Canara Robeco Mutual Fund sees substantial AUM growth in the last 5 years: AMFI
Kolkata: Canara Robeco Mutual Fund, the second oldest fund house in India, has seen its assets under management zooming by 400% in the last five years, reaching Rs 62,544 crore as on 31st March, 2023 from Rs 12,532 crore on 31st March, 2018 as per the data published by AMFI.
The fund house has seen a predominance of equity fund inflows as investors line up to benefit from its performing equity funds, the company said in a press release.
In FY 22-23 alone, Canara Robeco’s assets under management (AUM) rose by more than triple the rate of the 7% growth rate recorded by the industry as per the data published by AMFI.
The increased retail participation seen by the fund house has been reflected in a growth of close to 300% in SIPs over the last two years. The overall SIP count has crossed 23 lakhs as of 31st March, 2023, as per the fund house’s data.
"The steady investment performance, strong distribution network, significant penetration of retail investors across India and a multi-fold increase in SIP share have contributed to the strong growth of the fund house," said the press release.
In fact, Canara Robeco Equity Hybrid Fund (inception date 1st February, 1993) and Canara Robeco Equity Tax Saver Fund (inception date 31st March, 1993) both celebrate a milestone of 30 years in 2023.
The overall AUM of the fund house stands at Rs 69,133 as on 31st May, 2023.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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