IIFL Asset Management Company is a fully-owned subsidiary of IIFL Holdings Limited. It is sponsored by IIFL Wealth Management Limited. It is currently the 7th largest AMC in India in terms of total assets managed. The company was established in 1995 in the post-liberalisation era to capitalise on the emerging Indian financial services market.
Headquartered in Mumbai, the AMC is now present in all states of India and has several branches globally, most notably in Singapore, Canada, the USA, the UK and UAE. As of March 2018, IIFL Mutual Fund manages approximately $4.92 billion worth of assets.
The AMC offers dual capabilities of offshore and onshore asset management in a genuinely diversified portfolio of funds. It includes mutual funds, venture capital funds, and alternative investment funds cutting across private and public equities, real estate and fixed income securities.
About Holding Company
IIFL Holdings Limited was established on 17 October 1995 by Mr. Nirmal Jain, who continues to be the Chairperson of the firm till date. The independent financial institution is backed by American private equity firm General Atlantic, Canadian billionaire Prem Watsa and the UK-based CDC Group.
The name of the company was changed to India Infoline Limited in the following years. What started as a Probity Research firm soon transmuted into a trading platform during the dot-com revolution. Their trading portal, www.5paisa.com, was launched in 2000.
When the dot-com bubble burst, IIFL entered a tie-up with ICICI Prudential to capitalise on their existing distribution network, becoming the first corporate agent for insurance in India in the process.
Currently, they are one of the leading financial houses in the country with their fingers in many pies such as Wealth Management, Housing and Automobile Financing, Brokerage, Investment Banking and Institutional Banking. With over 10,500 employees, IIFL Holdings Limited has a consolidated net worth of over Rs. 45 billion. Over 300 of the world’s leading institutional investors depend on their research, which encompasses over 500 stock options. According to the company financials, they have Rs. 233 billion worth of loan AuM and Rs. 1,250 billion worth of assets under advice.
|Mutual fund||IIFL Mutual Fund|
|Set up||23 March 2011|
|Incorporated||22 March 2010|
|Sponsors||IIFL Wealth Management Limited|
|Trustee||IIFL Trustee Limited|
|MD and CEO||Prashasta Seth|
|Investor Service Officer||Shawn Sequeira|
|Compliance Officer||Kavita Khatri|
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How can you invest in Iifl Mutual Funds?
Investing in IIFL Mutual Funds is a straightforward online process. It’s quick and completely transparent. You can invest in any fund of your choice with a few clicks at your own convenience. All information relating to the funds can be accessed online as well so that you can make an informed decision in your choice of funds.
Follow this step-by-step guide to investing in IIFL Mutual Funds online.
Step 1: Go to the Groww website on your browser. Existing users can log in while new users have to complete a one-time registration process.
Step 2: Submit your KYC documents to prove your identity. Standard KYC documents such as Aadhaar, Voter ID, Passport, Driving Licence should suffice.
Step 3: Upload your address proof documents. Ration card and utility bills (telephone, electricity, water, etc.) are also valid along with relevant KYC documents.
Step 4: Select the investment tenure you are comfortable with. It can be short term, mid-term or long term.
Step 5: Select your risk appetite. You can choose between low, medium and high-risk funds.
Step 6: Select the IIFL Mutual Fund you want to invest in from a list of available funds according to your preferences.
Step 7: Complete the investment procedure by clicking on either ‘Invest One Time’ or ‘Start SIP’. The first option will allow you to make a one-time investment of the amount of your choice while the latter will start a SIP portfolio in your name.
Once you are through with these steps, the investment shall reflect on your Groww account within the next 3-4 working days. This simple yet secure online procedure makes sure that there are no fraudulent practices, and your investment is entirely safe.
Top Fund Managers
1. Mr. Prashasta Seth
Mr. Prashasta Seth is the Chief Investment Officer- Equity and Senior Managing Partner at IIFL Mutual Fund. Mr. Seth joined IIFL Holdings in 2008 and moved over to their new asset management wing in 2010. In his decade long stint at the firm, he has most notably been the key driver behind setting up the Equity desk and taking it to where it is now.
Mr. Seth has nearly 2 decades of experience in the financial markets. His specialisation lies in developing prudent investment strategies and generating research reports. He has previously worked with J.P. Morgan Asset Management in London and also spearheaded Global Research and Analytics- Irevna, which is a division of credit information agency, CRISIL.
Academically, Mr. Seth is a PGDM in Finance from IIM-Ahmedabad as well as a B.Tech from IIT-Kanpur. At IIFL Mutual Funds, Mr. Seth manages all 3 Equity options offered by the AMC. The total AuM under his management is a touch over Rs. 50 Crore. All three funds have continuously netted over 15% in returns.
2. Mr. Balaji Raghavan
Mr. Balaji Raghavan is Chief Investment Officer- Real Estate and a Managing Partner at IIFL Mutual Funds. He has over 20 years of industry experience in Real Estate Financing and Banking segments.
Mr. Raghavan has been associated with IIFL Mutual Fund since its inception in 2010. Along with Mr. Seth, he has built and deployed the funds managed by IIFL, especially in the Debt segment. He has personally carried out 70 transactions and built up an investment portfolio of over $1 billion.
Before he joined IIFL, Mr. Raghavan was the Joint General Manager at ICICI Bank for almost 5 years. He spearheaded their mortgage finance business while managing multiple portfolios across distribution, relationships and risk domains. Before that, Mr. Raghavan was a Vice President at ABN AMRO Bank for 3 years.
Mr. Raghavan has an MBA in Finance from T.A Pai Management Institute, Manipal. At IIFL, he manages 7 Debt funds, most notably IIFL Dynamic Bond and IIFL Liquid Fund.
3. Mr. Aniruddha Sarkar
Mr. Aniruddha Sarkar is an MBA in Finance from International Management Institute, New Delhi and a B.Com in Accountancy from St. Xavier’s College, Kolkata. He began his career at Sutherland Global Services as a Research Analyst in charge of emerging markets.
Mr. Sarkar joined IIFL Investment Managers in 2008 and has served in various capacities within the company. He joined as a Senior Equity Research Analyst and was directly involved in setting up the Equity desk at the firm.
In 2010, Mr. Sarkar was elevated to the post of Associate Vice President, where he managed the portfolio of multiple HNI clients. After three and a half years at the post, Mr. Sarkar was promoted to the post of Vice President and Portfolio Manager, a position he held for another three and a half years.
Mr. Sarkar moved on to IIFL Mutual Funds in 2017 as a Principal Fund Manager, wherein he manages the Discretionary Multisector and Multicap Equity funds.
Mr. Mehul Jani
A CFA and M.Sc in Finance from CASS Business School, Mr. Mehul Jani is a Principal Fund Manager at IIFL. He has over 15 years of experience in the Indian as well as global finance markets.
Mr. Jani was an Associate with Morgan Stanley in London from 2004 to 2008, where he gained valuable insights into the global economic scenario. His next stint was with DSP BlackRock Investment Managers, where he played the dual role of Research Analyst and Fund Manager. He was associated with the company for 10 years before he took up his current position at IIFL Mutual Fund.
At IIFL, Mr. Jani is responsible for managing the Listed Equity Funds worth a net AuM of Rs. 667 Crore.
5. Vikrant Sibal
Mr. Vikrant Sibal is a Principal Fund Manager at IIFL, with industry experience spanning over 15 years. Mr. Sibal has worked with several companies before joining IIFL. He started as a Research Analyst at Americorp Capital in 2003 and moved over to HDFC Securities Ltd. in the same position later that year. In 2005, Mr. Sibal joined ICICI Venture Funds Management as a Vice President. He spent the next 7 years of his career at this post, after which he joined Brand Capital as its Deputy General Manager.
Mr. Sibal finally joined IIFL in 2016 and has been a pivotal part of its fund management team ever since. He mostly manages Private Equity funds and has led the company’s investment in several companies such as Box8, Hopscotch, Bikaji Foods and Infigo Eye Care. Mr. Sibal is also an independent Board Member in the aforementioned companies.
Academically, Mr. Sibal is a B.Com from Narsee Monjee College of Commerce & Economics as well as an MBA in Finance from SIESCOMS. He has also cleared CFA Level 2 and ICSI.
Now let us jump and check about these top 10 mutual fund schemes.
Fund Performance: This fund has consistently beaten its benchmark in Dynamic segment and provided 7.36% annualized returns in the last 3 years. In the last 1 year, it gave 8.05% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 8.05% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹10,000. Minimum SIP investment amount for this scheme is ₹1,000. This is one of the best Debt mutual fund in India.
|Launch Date||23 Jun 2013|
|Min Investment Amt||₹10,000|
Fund Performance: This fund has consistently beaten its benchmark in Large Cap segment and provided 9.51% annualized returns in the last 3 years. In the last 1 year, it gave -3.27% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -3.27% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹1,000. This is one of the best Equity mutual fund in India.
|Launch Date||29 Oct 2014|
|Min Investment Amt||₹5,000|
Fund Performance: This fund has consistently beaten its benchmark in Liquid segment and provided 6.54% annualized returns in the last 3 years. In the last 1 year, it gave 6.61% returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 6.61% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹5,000. Minimum SIP investment amount for this scheme is ₹1,000. This is one of the best Debt mutual fund in India.
|Launch Date||12 Nov 2013|
|Min Investment Amt||₹5,000|
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