Bhubaneswar : Samco Mutual Fund is all set to expand its business in the state of Odisha. With the aim to partner with 300+ distributors across the state, the company has a target to achieve 10% market share of MFDsby the end of CY21.
Odisha contributes 2.58% to India’s GDP, however the contribution of the state to the AUM of Mutual Fund industry is only 0.98% which means that investor community is highly under penetrated. Identifying Bhubaneshwar among the key markets for growth, Samco is all set up to ramp up its distribution and assets under management in the state with the upcoming launch of the mutual fund.
The Samco Group takes great pride in innovating the right set of products and solutions for its customers and in line with this strategy Samco Mutual Fund introduces ‘Stress Tested Investing’ for the first time in India. Stress Tested investing is a strategy to put to work money with businesses that can endure and survive in a variety of stressful situations and generate long-term risk-adjusted returns. Each business is put through a series of six rigorous tests defined by SAMCO’s proprietary HexaShield framework and only businesses that pass the HexaShield test shall form a part of the investable universe. SAMCO’s HexaShield framework is designed to stress test whether a business can survive across a variety of macro and microeconomic pressures and truly be a compounding machine.
Also, for the first time in India, SAMCO Mutual Fund will transparently disclose daily Active Share to Indian Investors, so they know that when they are paying an active fee, it’s certainly for buying something widely different from the Index. Active Share measures the fraction of a portfolio (based on position weights) that differs from the benchmark index
Umeshkumar Mehta, CEO of Samco Asset Management Pvt Ltdsaid,“Bhubaneshwar is emerging as the hotspot for fund houses and advisers who are catering to the increasing investors’ appetite for mutual funds. Awareness about mutual funds has increased in smaller towns has led to the growing interest in the state. With that said, compared to the overall population in the state the number of active investors are low. We believe with the right product and distribution mix we can deliver a great investment for the people of Bhubaneshwar in the form of our upcoming mutual fund.”
Shatadru Gupta, Zonal Head, Eastof SamcoGroupsaid, “We are excited to expand our business in Bhubaneshwar and willhire and depute the best teams for catering to the state. The distributors in Bhubaneshwar will have an exciting product for their investors.”
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