Mirae Asset Global Investments, Swarup Mohanty, AUM, SIP, thematic fund, ETFs
Mirae Asset Global Investments’s average assets under management (AUM) jumped more than seven times in the last three years—from roughly ₹4 trillion (April-June 2016) to about ₹29 trillion (April-June 2019)—making it one of the fastest growing fund houses and a favourite with investors. Its CEO Swarup Mohanty talks about the company’s good run, the Indian markets and more:
You’ve had a good run over the past couple of years. But there is something called mean reversion. What do you say to the argument that people investing in the fund house now are doing so after the party is over?
It is our endeavour to keep the consistency going. Knowingly, we will not deviate from our record. Also, as we have grown, we have become superior risk managers. That differentiates us. We only launch schemes in categories where we believe we can create significant alpha. We stick to our strengths and play to them. In Q1 FY2018, our performance was not great, but we bounced back from there. What you are saying can happen but we are extremely paranoid about losing consistency and we will keep that paranoia going. What’s in our control is adhering to our investment process.
