Computer Age Management Services Limited (CAMS) will take time to build a book in GIFT City with regards to revenues, Anuj Kumar, CEO, told CNBC-TV18.
The company is a mutual fund transfer agency to Indian asset management companies. It recently announced plans to set up an office in Gujarat International Finance Tec-City (GIFT City) to provide asset management support services to foreign investors.
“We are already seeing inquiries, both from a base of clients and the new book that we will develop over a period of time. So looks like an exciting medium-term opportunity for us. In terms of charges, this is a sell market, we have to go and sell to every Alternative Investment Fund (AIF) coming in. The charging capability of a typical client, annually is between Rs 10 lakh and Rs 20 lakh, that just an average in terms of the stack of services that we offer. So it takes time to build a book, but from a foundation perspective, it is the right thing for us to do,” Kumar said.
On growth, he said, “Looking at AUM CAGR of the market, which has been about 17-18 percent in the past 5-6 years and looks stronger in this year, it is reasonable to assume that this could be a mid-teens kind of a number. However, we do not give specific guidance but we are very optimistic about the current year.”
For the entire management interview, watch the video
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