IDFC Mutual Fund open to inorganic growth in MF space: CEO Vishal Kapoor
IDFC Mutual Fund is open to acquisitions in the mutual fund space to grow its business, said the asset management company’s chief executive officer (CEO) Vishal Kapoor.
“We are definitely looking for growth if we come across good opportunities, it has to be something that adds value to our business,” he said.
Kapoor was talking on the sidelines of an investor education initiative: a screening of the short film ‘Return of One Idiot’.
The new film is a sequel to ‘One Idiot’, IDFC’s short film which highlights the importance of regular savings and investments. The fund house partnered with director Amol Gupte for both films.
Kapoor further said that mutual fund industry has been growing at a rapid pace and will continue to grow. The mutual fund industry crossed Rs 20 lakh crore milestone in July this year, having increased in size by 2.5 percent in July alone.
The fund house has also witnessed systematic investment plans (SIPs) growing by over 50 percent from the last quarter.
On the question of whether IDFC Mutual Fund would like to list the fund house, Kapoor said they have no plan of listing as yet .