Our funds will target wider audience

South Africa's largest asset manager, $80-billion Sanlam Group, picked up a 23% stake in Shriram AMC for ₹105 crore on Tuesday to become a co-promoter.

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Kartik Jain, MD & CEO, Shriram AMC, which has assets of ₹1,050 crore, tells Nesil Staney that the focus of the fund house will continue to be on first-time mutual fund investors and underserved communities. Excerpts:

How will the AMC utilize the money that has been raised?

It will primarily be used to support working capital requirements and business expansion. We will strengthen our core areas—investment management, product development and talent acquisition.

Why Sanlam?

Sanlam is South Africa's largest asset manager, managing over $80 billion in assets, with an established track record in fund management. More importantly, it has been our partner across Shriram Group businesses for over two years with a strong cultural fit. So, its direct investment in Shriram AMC is in many ways a natural extension of an existing deep relationship, rather than a new alliance. Sanlam views India as a key growth market and aligns closely with our long-term goals.

Will this partnership help you expand operations?