Aashish Somaiyaa has decided to exit from Motilal Oswal Asset Management Company (AMC) after heading the fund house for seven years.
According to industry grapevine, Somaiyaa may be joining Paytm AMC, but the same could not be ascertained.
In March quarter of 2012-2013 (FY13), when Somaiyaa took charge as MD and CEO, the average asset size of Motilal Oswal AMC stood at Rs 538 crore, which is today Rs 17,230 crore.
Under Somaiyaa, the AMC has widened its product basket from exchange traded products to actively-managed equity products, with focused portfolios being a key focus area.
Part of the reason for fund house’s smaller asset base compared to other peers, can be AMC’s main focus on equity products, and largely steering clear of debt product offerings.
The AMC has also gained a sizeable market share in the portfolio management services (PMS).