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but on increasing retail participation with a greater allocation to equity. "Right now our AUM is heavily tilted in favour of debt but we would like equity to account for at least 40 per cent, much larger than the industry average," he says. While plans are on to continue working with the existing distributors and employ technology to help in sales and distribution, the thrust is also on focussing on certain geographies with a concentrated strategy.
This AMC was set up in 1997 as a joint venture with U.K.-based Cazenove Fund Management and Cholamandalam Investment & Finance, a part of the Chennai-based Murugappa Group. Years later, the latter acquired the former's stake. In 2006, the fund was renamed DBS Chola Mutual Fund
S
ANJAY Sinha's initiation into DBS Chola Mutual Fund was truly a 'baptism by fire'. When he joined the mutual fund as chief executive officer, he was taking over an organisation that had been virtually 'headless' for a while. And despite the fund house being positioned as an established debt player, it did not even have an experienced debt fund manager.
The very next day of his appointment, Lehman Brothers filed for bankruptcy, triggering off panic in the global equity markets. Within a month, the liquidity crisis hit the debt market.
"My first task was to add some research analysts to aid the equity team, build a debt team and populate vacancies in sales and marketing," says Sinha. He now has a fund
folio against the broader market sector returns.
While DBS Chola Opportunities and DBS Chola Midcap have performed fairly well, the other equity schemes need to show some pickup. On the debt side, there are some good performers.
Barring a tax planning fund, there have been no fund launches in 2008 and 2009. Sinha's focus is not on assets under management (AUM)
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