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“In the last 2 years we have launched 12 NFOs. None of these were AuM gatherers but total assets are now near 12,800 crores and 4.5L unique clients with average age of schemes in the 1-1.5 years vicinity. None of these NFOs were launched in hot procyclical sectors - when some did defense, manufacturing, energy etc. we did BFSI, Pharma and Special Opportunities - this is to ensure counter cyclical actions and ensure good investing experience.

But why so many NFOs? The industry has become very meritocratic. Brands are now built basis track record vs. past precedent of big brands being picked assuming they will perform. That’s a 360 deg reversal. If we don’t get products in all basic categories to begin with how does track record ever build up? By 2027, when we will be 5 years old, we will have entire range with 3-5 years track record. 5 years track needs, well; a minimum of 5 years! This takes some doing - it needs well capacitized investments team and strong execution and that’s what we have been up to.”

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