AMC

Motilal Oswal Financial Services initiated coverage on NAM India with a BUY rating and a one-year target price of Rs 900.

New applications serve as launchpad for diversifying business and expanding capital market reach

The AMC expects the private credit segment to grow to $3.5 trillion by 2028 in India

Forecasts industry AUM to grow at 18% CAGR between FY24 and FY30

Aditya Birla Sun Life ends trading day 4.4% higher

The deal comes at a time when India's office market is witnessing significant demand

BSE PSU Index has doubled in the last one year, owing to strong momentum in PSU stocks

Companies have strong cash conversion, predictability and growth runway

Cites failure to onboard the AMC under EOP framework

Nilesh Shah shares his insights on these developments, explores whether the initial low voter turnout is causing concern in the markets, and delves into investment strategies against this backdrop

Aditya Birla Sun Life AMC on Friday reported a 54 per cent increase in net profit to Rs 208.4 crore for three months ended March 2024. In comparison, the company had posted a net profit of Rs 135.57 crore in the same quarter of the preceding fiscal, the asset management firm said in a filing to the stock exchanges. Total income surged 34 per cent to Rs 440 crore in the January-March period of FY24 from Rs 329 crore in the year-ago period. The company's board of directors in its meeting recommended a dividend of Rs 13.50 per equity share for FY24. For the entire FY24, the company's total income stood at Rs 1,640 crore, marking a jump of 21 per cent year-on-year and net profit was at Rs 780.36 crore in 2023-24, an increase of 31 per cent from the preceding fiscal. ABSL AMC is a leading asset management company in the country with quarterly average assets under management of Rs 3.32 lakh crore as of March this year. Aditya Birla Sun Life AMC, a joint venture between the Aditya Birl

Nippon Life India Asset Management Ltd on Wednesday reported its highest-ever quarterly profit after tax (PAT) at Rs 343 crore for the March quarter, marking a 73 per cent jump from the year-ago period. The company had posted a PAT of Rs 198 crore in the year-ago period, the asset management firm said in a stock exchange filing. Total income rose to Rs 560.57 crore during the fourth quarter of FY24 from Rs 388.03 crore in the year-ago period. Reacting to the strong quarterly performance, shares of Nippon Life India Asset Management surged 11 per cent to hit their 52-week high at Rs 623.40 in the intra-day trade on the BSE. Also, the company's board has recommended a final dividend of Rs 11 per equity share for the financial year ended March 31, 2024. With this, the total dividend for 2023-24 will be Rs 16.50 per share, including the interim dividend of Rs 5.50 apiece distributed in November 2023. Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund.

Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets. This was higher than Rs 62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23. "The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites," FYERS Research said in its report. As India's growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support. This trend bodes well for .

The Aditya Birla Group, which holds 50 per cent stake in the AMC, offloaded 5 per cent, while Sun Life, which has 36.48 per cent, sold 6.47 per cent stake

Flags negative implications; may impact profitability

Mutual fund distributors will now have the opportunity to receive trail commissions from Asset Management Companies (AMCs) for assets transferred by an investor from one distributor to another. This change follows numerous requests from Mutual Fund Distributors (MFDs) to review the current AMFI Registration Number (ARN) transfer norms. These norms currently prevent AMCs from paying trail commissions to the new distributor when an investor transfers their assets to a new MFD. In a communication to its members on Tuesday, Association of Mutual Funds in India (Amfi) permitted AMCs to pay trail commission to distributors in case a client transfers his assets from one distributor to another. However, AMCs can only pay trail commission after cooling off period of six months from the date of transfer of assets by investors. "In respect of change in distributor/ ARN code initiated by the investor, the AMCs may consider making payment of trail commission to the transferee distributor afte

Fee waiver, more participation and increased order size result in surge

The companies are likely to remain on the growth path in the coming quarters too, say brokerages

With new CEO at helm, fund house to focus on performance, distribution reach

Choudhary says he expects the central bank to start cutting rates by mid-CY 2024