Systematix Private Wealth has set an ambitious target of expanding its assets under management (AUM) to ₹38,000–40,000 crore over the next five years, betting on asset allocation-led advisory and expansion into smaller cities to carve out space in India’s burgeoning wealth management market.
Starting with an AUM base of around ₹9,000 crore, the firm is aiming for more than four-fold growth in a segment where both domestic and global players have struggled to achieve consistent scale. “This wealth management practice is fundamentally based out of right asset allocation. It is never product-driven,” Bhaskar Hazra, Joint Managing Director and CEO, told businessline.
Target Segments
Systematix plans to offer a full suite of services spanning equities, fixed income, alternatives, commodities, and offshore investments, alongside estate planning and tax advisory.
The minimum ticket size is ₹5 crore for high-networth individuals and ₹25 crore for ultra-HNIs.
It is targeting three client segments. “One is professionals, which includes CEOs, CXOs, and high net worth individuals. The second segment is family offices and business owners. And the third segment, which we will cater to, is corporate treasury,” said Hazra.
Each of these segments had unique requirements, he added.
A key pillar of its strategy is an in-house fund selection model, which the firm claims can deliver consistency by ensuring a majority of funds rank among the top performers.
Geographic expansion is central to its growth plan, with a target to enter 17 cities, focusing on emerging wealth hubs such as Surat, Jaipur, Baroda, and Lucknow. The firm is seeking to tap the rising affluence in tier-II markets.
”In the first year of our plan, we have started in six cities, which are Delhi, Mumbai, Kolkata, Ahmedabad, Indore, and Pune. These are the six cities that we are starting in. Gradually, by the end of the fifth year, the number will become 17. And it covers all the cities that I mentioned, plus cities like Hyderabad, Goa,” Hazra said.
Systematix is relying on the under-penetration of formal wealth management in India, estimating that nearly $400 billion of high-net-worth wealth remains informally managed.
Hazra pointed out that millionaires in India were rising by 12 per cent annually, and the wealthy population controlled over a trillion dollars.
“So it gives us a lot of conviction that there is opportunity in India at this point, and the opportunity has been growing at a substantial pace.”