Birla Sun Life Asset Management Company wins 'Asset Management Company of the Year' award

Recognized by Hong Kong's The Asset Magazine, under its 'The Asset Triple A Investment Awards 2010'. End Quote

(1888PressRelease) September 15, 2010 - Mumbai - Birla Sun Life Asset Management Company Limited (BSLAMC), one amongst India's top four AMCs based on average Assets Under Management (AUM) on 31st August 2010, has been recognized as 'The Asset Management Company of the Year, India' by Hong Kong's The Asset Magazine, under its 'The Asset Triple A Investment Awards 2010'.

The Asset Magazine is an eminent publication providing research and coverage of Asia's financial industry. The award acknowledges BSLAMC's comprehensive and innovative offering, its significant efforts to reach new investors and above-benchmark performance for the year ended June 30, 2010.

"The accolade not only endorses the stellar growth in our assets, profitability and investor base, but also encourages us to strive further to be a trusted financial partner. Our innovative approach to products, processes and cost reduction, in a highly challenging economic environment, enabled us to stay ahead of the curve and deliver consistent returns to investors," said Mr A Balasubramanian, CEO, BSLAMC.

"Over the past year, Birla Sun Life Mutual Fund has scaled up efforts to connect with new investors and markets. Our initiatives to create understanding about Systematic Investment Planning and financial discipline in markets with low investor education, helped expand our reach in smaller markets alongside our significant presence in large markets," he added.

During the period under review, the market share of BSLAMC grew by 11%, with AUM touching an all time high. At a time when the industry was witnessing a downtrend, its investor scheme accounts grew by over 7%, crossing 24.6 Lakhs. With over Rs 2,000 crores, BSLAMC had a disproportionately high share of the net equity inflows in the Industry during FY10.

The consistent focus in building scale in some of the schemes paid off well in terms of scaling up the size in schemes like BSL Midcap Fund (average AUM as of 30th June - over Rs 1,800 crores), BSL Tax Relief' 96 (average AUM as of 30th June - over Rs 1,400 crores) , BSL Dynamic Bond Fund (average AUM as of 30th June - over Rs 8,800 crores). This happened through a combination of net inflows as well as market actions.

BSLAMC's flagship equity fund, Birla Sun Life Frontline Equity Fund, recorded a 200% growth in average AUM, crossing Rs 2,000 crores mark, and outperformed its benchmark during this period.

AUM source: www.amfiindia.com
Past performance is no guarantee for future returns.

About Birla Sun Life Asset Management Company Ltd.
Established in 1994, Birla Sun Life Asset Management Company Limited (BSLAMC) is a joint venture between Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, leading international financial services organization from Canada.

BSLAMC is the 4th largest asset management company in India with average assets under management of Rs 64,218 crores as on August 31, 2010. An impressive mix of reach through 105 branches, wide range of product offerings across equity, debt, balanced as well as structured asset classes and strong investment performance has helped the Company garner over 2.4 Million investor scheme accounts. Known for its consistent investment performance, BSLAMC has received recognition from various institutes of international repute like Lipper and The Asset Magazine - Hong Kong.

About Aditya Birla Financial Services Group (ABFSG)

The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz life insurance, asset management private equity, NBFC, broking insurance advisory services, wealth management, and distribution.

The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with over 5.6 million customers manages assets worth USD 20 billion approximately and prides itself for having a talent pool of over 16,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1650 branches and over 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of over 1.25 bn US$, (2009-2010) ABFSG is a significant non bank player.

ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a USD 3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.

About Sun Life Financial Inc.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2010, the Sun Life Financial group of companies had total assets under management of $434 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

###

space

Other Related Press Releases