Bajaj Capital targets over 70 per cent growth in its AUM in FY 10

MUMBAI: Bajaj Capital's Assets under Management (AUM) in 2009-10 is likely to grow more than 70 per cent due to overall growth in institutional as well as retail segments, a top company official said.

"We expect to continue the existing momentum because of our balanced business-mix which allows us to concentrate on institutional and high networth segments through our premium advisory channels," Bajaj Capital Limited's executive vice-president and national head, Surajit Misra, said in Mumbai.

Bajaj Capital, which is engaged in distribution of financial products has 236 distribution points pan-India.

The company which has launched its online platform for investing in equities, mutual funds and IPOs last year, plans to add 40 more distribution points in a year.

"We want to grow our market-share in the distribution space and are committed to grow our distribution network," Misra said.

Bajaj Capital expects a good revenue from the Tier-II and Tier-III cities on the back of the global (economic) recovery.

"Rural India throws up a bigger challenge and we want to tap the opportunity. We expect a 30 per cent growth in the retail segment in the next 6-8 months," he said.