HDFC Asset Management Company aspires to be the wealth creator for every Indian, says Navneet Munot, MD & CEO
Mumbai, July 27, 2021: HDFC Asset Management Company’s MD & CEO, Mr. Navneet Munot, addressing the shareholders said that as India continues on its growth journey, the fund house aspires to be a wealth creator for every Indian, with an audacious vision: to be the most respected asset manager in the world. He added “At HDFC AMC, we are well-positioned to capitalize on the opportunities with Pedigree, People, Processes, Products, Performance, Presence, Partnerships, and Platform.
According to Mr. Munot, despite strong growth in the past decade, mutual fund penetration remains extremely low in India. He added, “I believe the economy should come back to a steady recovery path, with the COVID curve showing signs of flattening and the nationwide vaccination drive gathering steam. The markets are clearly exhibiting confidence, signaling better times ahead. Our people are well equipped with top-class digital infrastructure to function seamlessly. We have created the tools to provide a best-in-class User Interface and User Experience to our customers and partners. We will continue to strengthen our digital capabilities with a focus on delivering customer delight”.
While addressing the shareholders on the expansion of the equity product portfolio, Mr. Munot said, “Today, we offer a broad range of products across asset classes/ risk spectrum which addresses varied customers’ needs. We constantly evaluate opportunities but refrain from creating a product/solution unless we strongly believe that it will add value to our customers’ portfolios over the long term. During FY 20-21, we launched HDFC Dividend Yield Fund and HDFC Banking ETF. With equity markets near record highs and interest rates at the lower end of the spectrum, investors are searching for the right balance to optimize their portfolio returns. Our hybrid funds and asset allocation-oriented products enable investors to balance their asset allocation, optimize portfolio returns and ride out market gyrations. In the next few quarters, we would like to expand our equity product portfolio to cover sector/specific themes, international markets, and passive strategies”.
Investment management is all about developing a culture – of doing right for the customer. Mr. Munot emphasized that HDFC AMC’s fiduciary duty to its customers – their interests clearly supersede. Transparency and good governance are the key pillars in upholding the highest standards of fiduciary responsibilities. He added, “our customers entrust us with their savings, with a strong belief that we would help them achieve their financial goals. Our culture reflects a deep sense of trusteeship towards them”.
Acknowledging the shareholders for their continued support Mr. Munot said “I thank you once again for your trust and confidence in HDFC AMC. I also take this opportunity to thank our customers, distribution partners, service providers, and above all, our people for their unwavering commitment. We would like to thank SEBI for continued guidance and direction for orderly growth of our industry”.
About HDFC AMC
HDFC Asset Management Company Limited (HDFC AMC) is Investment Manager to HDFC Mutual Fund, one of the largest mutual funds in the country. It was incorporated under the Companies Act, 1956, on 10th December 1999 and was approved to act as an Asset Management Company for HDFC Mutual Fund by SEBI on 3rd July 2000. It has other SEBI licenses viz. PMS / AIF. HDFC AMC has a diversified asset class mix across Equity and Fixed Income/Others. It also has a countrywide network of branches along with a diversified distribution network comprising Banks, Independent Financial Advisors, and National Distributors.