Mahindra AMC looks to focus on rural, semi-urban markets

Mahindra Asset Management Company (AMC), which has received an approval from capital markets regulator Sebi to set up mutual fund business, today said it will focus on rural and semi-urban markets.

The company is also in the process of setting up its products and marketing.

Mahindra AMC, a wholly-owned subsidiary of Mahindra and Mahindra Financial Services, is the latest Indian conglomerate to enter the mutual fund segment.

At present, there are over 40 mutual fund houses operating in the country.

The company will focus on rural and semi-urban markets where its non-bank lender parent Mahindra Finance has a strong presence.

"We are committed to reaching out to semi-urban and rural markets. We believe that many of the investors from these markets are new to mutual funds," Mahindra AMC Managing Director and Chief Executive Ashutosh Bishnoi said.

Interestingly, smaller towns have contributed 44 per cent of total inflows in the past fiscal.

"Our primary focus is to meet the investment needs of semi-urban and rural investors. Mahindra Finance has been serving the borrowing needs of such customers for two decades, and now we are aligning ourselves to the investment needs of the same customers," he said.
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