Raghav comes in as CEO of 360 One AM to leverage its considerable investment management strengths and brand equity in the HNI space to build out equally robust mass affluent and retail franchises.
While 360 One has around Rs.12,000cr in MF AuM, it has an equal amount in PMS and AIFs – which together with its institutional mandates amounts to an AuM of over Rs.40,000 crs in public equity. Add an equal amount in private equity and private credit – which brings overall AuM to overRs.80,000 cr (US$ 10 Bn).
Expect to see a round of branch expansions as Raghav enhances distribution reach. Product launches will continue to be investments team led – which currently see greater opportunity now in the hybrids space given where equity valuations are.
Expect to see a multi asset fund launch soon which promises to be truly multi-asset.
Raghav is optimistic about Investment Strategies – the new asset class flagged off by the regulator. He sees over time the product pyramid evolving as follows: mutual funds for retail; investment strategies for mass affluent; AIFs for HNIs and managed accounts (the likely future avatar of PMS) for corporates and family offices.
Raghav believes the key priority for MFDs now is to not only manage soaring client expectations but also actively moderate risk in client portfolios.
He believes this is the time for MFDs to open up their minds to scale they had never imagined possible – it is only when you do this that you will start exploring and embracing digital solutions that allow you to truly scale up.
And finally, use this phase of super normal profits aided by a prolonged bull market to reinvest in and strengthen your business – and don’t get complacent with growing income and take your eyes off new client acquisition. Stay hungry – that’s the only mantra to stay ahead.