Lotus India Asset Management Company (AMC) has crossed $ 2 billion of Assets Under Management (AUM) as on 31 October 2007. Lotus India AMC has witnessed remarkable growth in AUM from Rs. 906 crores as on 30 November 2006 to Rs. 8,142 crores as on 31 October 2007; a growth of around 798%. Speaking on the occasion, Ajay Bagga, CEO, Lotus India AMC, said, We have been witnessing exponential growth in our AUM since we launched last year. Reaching a milestone of over $ 2 billion AUM reinforces our belief that there is significant opportunity for quality players to make their mark in the mutual fund industry in India. The contribution of our distributors and our consistent investment performance are the two primary reasons for this success. Within a short period, we have managed to create a distinct identity in the industry based on our innovative products and customer friendly services. Our focused growth strategy has translated into a rapidly increasing distribution network and our growing AUM is a reaffirmation of the faith reposed in us by our investors and distributors.
Lotus India Mutual Fund has recently launched Indias first Quant based Mutual Fund scheme- Lotus India Agile (Alpha Generated from Industry Leaders) Fund that aims to generate capital appreciation by investing in a passive portfolio of stocks selected from the industry leaders on the basis of a mathematical model. The NFO opened for subscription from 25 October 2007 and will close on 23 November 2007.
They have also recently closed the Lotus India Infrastructure Fund a closed ended equity scheme that aims to provide long-term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of infrastructure companies. The NFO closed for subscription on 24 October 2007 and received favorable response from investors and distributors alike. Collections were more than Rs. 200 Crores.
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