Bharti Axa Investment Managers is targeting $10 billion in assets under management by 2012, something it hopes to achieve mainly through an aggressive retail expansion and a broadening of its product selection. Achieving its goal would make it among the top 10 fund houses in India.

The fund house is a joint venture between Bharti Group (represented by Bharti Ventures) and Axa Group (represented by Axa Investment Managers and Axa Asia Pacific).

It plans to open 60 sales offices across 45 cities in India (from the current 32 sales offices in around 25 cities) by December, and has designed its maiden equity portfolio, the Bharti Axa Equity Fund.

The Bharti Axa Equity Fund is an open-end growth portfolio that seeks to generate long-term capital appreciation from a diversified portfolio of mainly equity and equity-related securities including equity derivatives. Its performance will be benchmarked against the S&P CNX Nifty Index. The fund is part of the core portfolio for Bharti Axa Investment Managers.

The fundÆs manager is Prateek Agarwal and its research team is headed by Sandeep Nanda.

ôIn the retail markets, our focus will be on three aspects to acquire customers û affordability, accessibility and simplicity,ö says Sandeep Dasgupta, CEO of Bharti AXA Investment Management.

The equity portfolio is in addition to the Bharti Axa Liquid Fund and Bharti Axa Treasury Plus Funds, both of which were launched in July.