Everyone likes to celebrate milestones.... they remind us of an important achievement, inflexion point or simply a precious event to be remembered and rejoiced. November of every year brings a deep sense of pride, satisfaction and gratitude to every member in the L&T Mutual Fund Team as we celebrate our landmark acquisition of Fidelity's India mutual fund business 8 years ago in 2012. With an excellent blend of equity and debt assets, combined with a great brand as L&T and a complementary distribution network, industry experts took note of this acquisition with a mixed bag of sentiments. Some gave a big thumbs-up while a few did doubt where we would go from there.
Well, what a run it has been since! 8 years on, we have seen highs and lows in the markets with varied levels of volatility and investors who have stayed with us have benefited. Our folio count has grown from 8.95 lakh number of live folios, as of March 2013 to approximately 27.8 lakh as of October 2020. Our AUM stands at 66,588 crore (October, 2020) which has grown by 26% (CAGR) since 2013 as against the industry AUM growth rate of 20%. Our distributor base has increased significantly from 13,003 to 49,412 (October 2020) – a growth of over 3.8 times.
While we take a lot of pride in those growth data metrics, we are absolutely aware of the crucial part that every investor has played in this journey over these 8 years. At the same time our distribution fraternity has also been the backbone of our growth trajectory, without their constant support we would not have reached where we have today.
It is heartening to hear stories from various corners of the country where our investors who stayed invested with us through this journey, tell tales of how the wealth generated through their investments in our schemes have helped them achieve some of their crucial life goals. We at L&T Mutual Fund are thankful that we could be a part of their life journeys and bring value to them.
Such milestones motivate each one of us to work harder and keep bringing value to our investors. Our management ethos, internal guidelines and policies have stood strong in the test of volatile market cycles and would continue to do so. We hope our investors keep their faith in us and stick to their financial goals in these uncertain times that 2020 has shown everyone across the globe. We always recommend that one must follow the basics of investing like asset allocation, risk taking appetite and financial goals as the guiding principles for every investment that they make irrespective of the market cycle.
We are grateful to every distributor in this journey who have supported and complemented our objective of providing top of the line customer experience. With the industry and L&T Mutual Fund also leveraging the uptick of digital usage across the spectrum of customers, our distribution fraternity has also shown a very high degree of adaptability to the new normal. They have been the handholding a multitude of investors in making seamless transition from the physical way of investing to the digital space. We hope that each one of you will continue to partner and support us in this journey in the years to come with the same rigour.
On behalf of the entire team at L&T Mutual Fund, I take this opportunity to express our gratitude to everyone who has walked with us through this exciting journey. Thank You!
Source: AMFI, CAMS, Internal
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.