Launching the Essel Mutual Fund (EMF) on Friday in New Delhi, Rajya Sabha MP, Dr Subhash Chandra said the enterprise's focus would be on winning the trust of people and assuring them that their funds is in safe hands.

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"We want to be the most trustworthy financial service and are not just looking at numbers to be at the top. We want to hear people say this is the Number One financial service in terms of trust and confidence," Dr Chandra said at the launch.

"The brief to Essel Finance is that they have to serve the common man and not the elite. Many business houses miss that," he added.

EMF is the latest venture of Essel Finance, which provides financial services such as housing loans, doorstep facility for foreign exchange, private equity, and business loans , among others.

Dr Chandra said the mutual funds industry is a new space for the group, and that, given its 90-year legacy, the group will win the faith of people.

"We will manage your funds and our funds," Dr Chandra added.

He also stressed that the basic legacy of his forefathers has been never to betray the faith and confidence of stakeholders.

He said that many a time there was a feeling within the group that managing money was not its core strength but with this team, they are confident of changing that.

Dr Chandra also narrated the success story of Zee when the group entered the media business 25 years ago. Today it is the second largest network in the world, with a viewership of 1.3 billion people across 170 countries.

He also had a message for people dreaming of making it big, saying they could even go beyond Essel group. "It is only us who create boundaries. You have countless capabilities. Just realise it and go for it," Dr Chandra said.

He also assured the assembled distributors — who form an integral part of the financial service industry — that the Essel group would do everything to ensure that their role is not diminished and that their interests are kept in mind.

Earlier, Amitabh Chaturvedi, managing director, Essel Finance, said there is a space for a large financial conglomerate to coexist with big groups. "We aspire to share space with top 10 players," he said.

Chaturvedi noted that the time has come for a multi-fold jump in the mutual fund industry, and could see investments of Rs 40 lakh crore over the next five years.