Mumbai, Aug 22: IL&FS Mutual Fund is eyeing acquisitions and plans to launch six more schemes to increase its assets under management to over Rs 3,000 crore by the end of this fiscal. "We are very keen on acquisition but it should be at the right price and fit into our business strategy. We have identified 1-2 funds," IL&FS Mutual Fund president, N K Sharma, said here.
He did not name the funds but said "they are small and passive funds."
This assumes importance in the light of a spate of M&As witnessed in the mutual fund industry in the recent times with Templeton acquiring Pioneer ITI and HDFC taking over Zurich AMC in their attempts to grow bigger.

Although inorganic growth through M&As is part of the agenda of IL&FS, Sharma said "our primary strategy is to grow organically. Our corpus should go up by 50 per cent to over Rs 3,000 crore by the end of this fiscal from Rs 2,000 crore in March end 2003." Bureau Report