Essel Finance formally expanded its financial footprint into India's thriving mutual fund industry on Friday, 27th October, 2017 at the hands of Hon'ble Chairman, Dr.Subhash Chandra. This milestone was marked in the presence of key dignitaries from a host of sectors at a grand event complete with entertainment, unique experiences, wine, dine and an enlivened audience of over 300 at the St Regis, Lower Parel, Mumbai.
Commemorating the launch of Essel Mutual Fund, Dr Subhash Chandra, Chairman of the Essel Group expressed that "Businesses are built on trust, and I'd like to tell the entire Essel Finance team to build on this trust and create a winning proposition for depositors on one side and clients on the other.” Further into the evening Dr. Chandra accompanied by Amitabh Chaturvedi, Managing Director, Essel Finance Management (EFM) unveiled the logo of this latest vertical.
This foray into the mutual fund business was achieved with the acquisition of the entire shareholding of the Peerless General Finance and Investment Company Ltd and others in Peerless Funds Management Co Ltd and Peerless Trust Management Co Ltd. via the EFM subsidiary Essel Finance Wealthzone.
Amitabh Chaturvedi, Managing Director, Essel Finance in his address stated, "We feel that the mutual fund industry will double its assets under management (AUM) in the next five to six years. At Essel Finance, our aim is to get a large pie of this growth with Rs 1 lakh crore AUM for Essel Mutual Fund in the next seven to eight years."
Taking a unique approach to interaction there was music, lights and a brilliant inaugural act to set the mood, followed by a mesmerizing act by a mentalist that left all in awe. A special activity was lined-up where the guests got their hands embodied in wax and got to take them home as unique giveaways. The key highlight of the night was the grand entry of Dr. Subhash Chandra, which was preceded by an on-the-spot, life-size painting created by Speed Painter Vinod More in his honour.
The next pit-stop will be Delhi on Friday, 3rd November, which once again will be done under the aegis of Hon'ble Chairman, Dr.Subhash Chandra.
Report By: Mahrukh Vijan
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