India's top listed AMCs ride rising market to beat Covid pandemic in FY21

Analysts expect momentum to sustain in the current financial year as equity flows rebound

Amid a boom in the equity markets, India’s top listed asset management companies (AMCs) reported a good performance for FY21, even as the Covid-19 pandemic dented the financial performance of multiple sectors.

This was achieved despite the mutual fund industry witnessing net outflow in the more profitable equity schemes for eight consecutive months in the previous financial year.

With equity funds witnessing net inflow in the past two months, the industry and analysts expect revenue and profits to be much better in the current financial year.

“Given our house view of a significant rally in the Indian equity markets in the near term,