IIFL Asset Management (IIFL AMC), one of India’s largest players in the alternatives’ segment, today stated that its asset base has crossed the Rs. 50,000 crore-mark. The fund house’s aggregate Assets Under Management (AUM) comprising Alternative Assets and Mutual Funds (MF) rose to Rs. 50,019* crore from Rs.37,372 on March 31, FY21, IIFL AMC stated. While the one-year absolute growth in AUM was 87%, the three-year absolute growth was 212%.
The growth in AUM has been achieved mainly on the back of increased inflows into the listed and unlisted funds besides rising traction on Long Short, Real Estate and Credit funds. IIFL AMC has received an encouraging response from both, new institutional clients as well as large distributors in the market.
Karan Bhagat, Founder, MD & CEO, IIFL Wealth & Asset Management, said, “Our AMC has shown stellar growth over the last few years and the Rs.50,000 crore AUM mark is a culmination of multiple milestones achieved along the way. We are very excited by the potential that our AMC offers – the opportunity is multi-fold compared to where we are today.”
“We have witnessed a resounding acceptance from UHNIs, HNIs, Family Offices and global institutions and have emerged as an AMC of choice for investments in India. IIFL AMC is led by a strong team and has established itself as an innovative investment firm that offers pioneering investment products and solutions,” Karan Bhagat added.
Manoj Shenoy, CEO, IIFL AMC, said, “Crossing the landmark number of Rs. 50,000 crore AUM is both humbling as well as inspiring. We significantly strengthened our senior leadership team with Anshuman Goenka joining us to lead Private Equity and Amar Merani joining us to head the Real Estate strategy. We continue to add new channel partners and achieve scale across our existing products.”
Anup Maheshwari, CIO, IIFL AMC, commented, “We are grateful to our investors for giving us the opportunity to act as their fiduciary. We passionately believe that a strong investment culture, backed by a disciplined framework and process are the key for us to deliver a sustainable performance over time. Our core objective is to deliver alpha to our clients – across products, investment performance and service quality. Crossing the Rs.50,000 crore assets mark is an important milestone in our journey of wealth creation for our clients.”