Tuesday, 13 August 2019
Pension fund manager HDFC Pension Management is looking to touch assets under management (AUM) of Rs 10,000 crore in FY20. In an interaction with Moneycontrol, Sumit Shukla, CEO, HDFC Pension said retirement is a big opportunity for the company.“We are hoping to close the year with an AUM of Rs 10,000 crore in FY20. The idea is to move far ahead of the competition in this sector,” said Shukla.
HDFC Pension is a wholly-owned subsidiary of HDFC Life Insurance. The AUM stood at Rs 5,170 crore in FY19 and the company touched Rs 6,000 crore AUM in July 2019.At the end of Q1FY20, the company was the fastest-growing Pension Fund Manager (PFM) under the National Pension System (NPS) architecture. HDFC Pension saw year-on-year (YoY) growth of 96 percent in its AUM.