Birla Sun Life Mutual Fund has today completed 20 years in asset management business. In a press release issued by the company, it said, “Birla Sun Life Mutual Fund completes 20 years of wealth creation in relentless service to over 2.2 million investors.”
Recently, Birla Sun Life Mutual Fund became the fourth fund house to cross Rs. 1 lakh crore assets under management mark. Also, a few of its equity funds like Birla Sun Life Frontline Equity Fund and Birla Sun Life Top 100 Fund have consistently outperformed their benchmark over one, three and five year period.
Through the press release, Ajay Srinivasan Chief Executive – Financial Services, Aditya Birla Group said, “Birla Sun Life AMC has been one of the flagship businesses of Aditya Birla Financial Services Group and is one of the fastest growing business within the Mutual Fund industry. BSLAMC has grown from strength to strength over the last 20 years and our performance is a testimony to our fund management capabilities and the trust customers repose in us. We remain committed to expand the reach of mutual funds in India, as we make a positive influence in the life of our discerning customers and channelize further savings into the economy.”
A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, “It is a proud moment for us at Birla Sun Life AMC. Our people are our core strength and our achievements are a result of the collective efforts of the entire team working single-mindedly in one direction. The quest for growth and continuous improvement in our business continues and we now look ahead to surpass our own records working closely with our partners. This is an ongoing journey for us and we are deeply committed to build the business to the next level while serving an increased number of customers as well as distributors.”
“The fund house’s equity AUM grew by 70% to over Rs.21,000 crore, making it a rank 5 player in equities. As alternate assets consolidated, the Offshore business surpassed AUMs of US$1 billion. Effectively the business grew 24% year-on-year with overall AUM standing at US$18 billion as of October 2014,” says the press release.
The fund houses manages assets of Rs. 1.03 lakh crore as on September 2014.
Milestones - Birla Sun Life Mutual Fund
ü The Aditya Birla Group and The Capital Group of Companies, Inc. USA come together to set up Birla Capital International AMC Ltd in 1994
ü First Branch - Inaugurated by Shri Aditya Vikram Birla in Mumbai
ü First Equity Scheme - Birla Advantage Fund and First Debt Scheme - Birla Income Plus, both of which continue to prosper and grow even today.
ü Introduced Systematic Transfer Plan in 1998
ü Acquired Apple AMC in 1999
ü Entered into a joint-venture with Sun Life Financial Inc., Canada in 1999
ü Offered Gift certificates of Birla Income Plus in 2002
ü Acquired Alliance AMC in 2005
ü Launch mobile account statement and online transactions in 2007-2008
ü Offered Century SIP with life insurance cover at 100 times the first SIP amount in 2008
ü Had its funds listed on BSE and NSE in 2009
ü Launch the Aditya Birla Financial Services Privilege Club – the only loyalty program of its kind for partnership with IFAs in 2011
ü Introduced SIP in Debt through Recurring Savings Plan in 2012
ü Introduced Click In Photo Upload application to enable upload of application forms from mobile in 2012
ü Pioneered product categories with Birla Sun Life Dividend Yield Plus and Birla Sun Life Dynamic Bond Fund
ü Launched Portfolio Management Services in 2002
ü Launched its first Real Estate Fund in 2008
ü Grew to serve global investors through offices in Dubai and Singapore in 2011
ü Established its 100th branch in India in 2013
ü Acquired schemes of ING AMC in 2014
ü Crossed the One Lakh crore AUM Milestone in 2014
