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Aggressive, but achievable: AUM Capital eyes close to three-fold growth over three years

The Calcutta-headquartered firm is managing Rs 12,000 crore of wealth spread across family offices, ultra-HNIs (high net worth individuals) and HNIs. It expects this to jump to around Rs 30,000-35,000 crore over the next three years

Vivek Nair Mumbai Published 12.02.24, 10:21 AM
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AUM Capital is eyeing close to a three-fold growth in its wealth management business over three years.

The Calcutta-headquartered firm is managing Rs 12,000 crore of wealth spread across family offices, ultra-HNIs (high net worth individuals) and HNIs. It expects this to jump to around Rs 30,000-35,000 crore over the next three years.

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``That is our target, it may look aggressive, but it is achievable,’’ Mukesh Kochar, national head of wealth at AUM Capital, told The Telegraph.

It reflects the confidence of AUM Capital in a business that even drew the interest of a foreign lender such as HSBC.

In 2023, HSBC announced it was re-entering private banking in India, after a gap of eight years. HSBC said that it would target professionals and entrepreneurs with investable assets of more than $2 million.

AUM Capital is now looking to expand its presence in major cities and have more relationship managers across key branches such as Mumbai, New Delhi, Bangalore and Calcutta.

Kochar pointed out that the focus on customer trust is one of the major reasons for AUM Capital's success in the highly competitive wealth management industry.

``Our tagline is `Your Trust is Our Wealth’ and we have not compromised on this front. This is the reason why we have a strong retention and new customers are also coming to us,’’ he said.

The practice of disclosing the risk of a proposed investment to a client upfront has contributed to retention.

``We never sell or suggest products for the sake of our profitability. We always highlight risk to the client and this has enabled us to create a trust over a period of time,’’ he said.

Kochar said the industry has seen various changes, particularly after Covid-19.

The "financialisation of assets’’ is one such change as individuals are no longer looking to only put their money in real estate or jewellery.

There has been a big jump in family offices and their nature has also changed.

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