Madhukumar Nair takes over as the new CEO at Union MF with a growth focused mandate to increase AuM from 15,000cr to 75,000cr over the next 5 years.
Madhu’s priority is to focus on 3 aspects which he wants Union MF to be known for and which he believes will be their biggest growth drivers:(1) Consistency – across fund performance, communication and distributor engagement(2) Simplicity in products, processes and service and (3) Responsibility with which his team will accept and discharge their fiduciary responsibilities of managing hard earned investor money.
Union MF will open up new distribution channels as well as new product categories in its growth efforts. More focus on MFDs – especially the top 500, deeper engagement with banks and NDs, greater emphasis on institutional business and roll out of PMS and AIF products are all part of his growth plans.
Union MF will leverage the enormous strengths of Union Bank(16 cr customers, 9000 branches) as well as the expertise and international distribution reach of its Japanese JV partner Dai-itchi to ramp up in-house distribution as well as international business.