Recently in a Bollywood award function held internationally in Tampa - Florida, USA, mutual funds were made a matter of joke. Coincidently, the regulator SEBI recently (obviously before the instance took place) took up this issue of seriousness of mutual fund players in the industry. In May, 2014 SEBI decided to raise the minimum net worth of AMCs to Rs. 50 crore instead of the earlier level of Rs. 10 crore.
AMCs have got a 3 year period to grow their net worth up to Rs. 50 crore.
What is Net Worth?
Net worth is the total assets minus total liabilities of an individual or a company.
I intend to share this with you, because I believe it is your right as an investor to know what is the future of the AMC you have invested your hard earned money with. With around 8 years of successful operations and a road less traveled of going only direct to investor Quantum believes in growth that's sustainable. We want our investors to be with us for long term.
You can quell any doubts by looking at our past 3 years year-on-year growth numbers that shows how as an AMC we have achieved success during times when many other AMCs were facing difficult times.
Year |
Quantum AMC's Net worth | No. of Folios |
April 30, 2014 (unaudited numbers) | Rs. 28.44 crore | 41,042 |
June 30, 2013 | Rs. 25.74 crore | 38,392 |
June 30, 2012 | Rs. 23.44 crore | 25,230 |
June 30, 2011 | Rs. 20.49 crore |
14,820 |
With this growth pace and abiding by our vision to be the most respected fund house we expect our future profits to help us cross the Rs 50 crore net worth line. Nevertheless, to back us with strong support our sponsors too are focused and determined on the growth of the AMC.
At Quantum, we believe our role is to be asset managers and not asset gatherers, as an AMC its is more important to take care of our investor's money prudently, offer investors user friendly investment platforms and maintain transparency in our processes.
We stay committed towards our investors offering them a disciplined research and investment process to take advantage of the long-term investment opportunities that exist across various asset classes - while balancing the inherent risks of investing in an evolving market.
In an industry which comprises of some players who carry with them the legacy of their brand and a humongous capital, we are proud of the fact that we are going strong and look forward to serve you with more investor friendly products and services. Over and above we want to thank you, our investor, because of whom we are always motivated to deliver our best and strive to sustain this relationship over the long run.