Nippon Life India Asset Management rose 2.14% to Rs 413.75 after the company's consolidated net profit increased 16.1% to Rs 181.54 crore on 9.8% rise in total income to Rs 369.18 crore in Q1 FY22 over Q1 FY21.
Nippon Life India Asset Management is an asset manager of Nippon India Mutual Fund (NIMF).
For the quarter ended 30 June 2021, NIMF's overall AUM market share rose to 7.25%, an increase of 13 bps as against the quarter ended 31 March 2021. The company's overall AUM market share was 7.3% in the Q1 quarter last year.
For the quarter ended 30 June 2021, NIMF's average assets under management was Rs 2,40,364 crore ($32.5 billion), an increase of 33.5% compared with Q1 FY21 and an increase of 5.2% compared with Q4 FY21.
For the quarter ended 30 June 2021, share of equity assets rose to 41.3% of NIMF's AUM as against 37.8% for the quarter ended 30 June 2020. The share of equity assets was 40.6% for the quarter ended 31 March 2021.
As on June 2021, NIMF is one of the largest ETF players with AUM of Rs 40,809 crore ($5.5 billion) and a market share of 13%.
Sundeep Sikka, ED & CEO, NAM India, said "I am happy to share that NAM India's continuous focus on strong profitable growth has been yielding positive results. In this quarter, we increased our market share and overall investor base, led by a keen retail-driven approach, robust product suite and, dedicated efforts to grow across all asset categories."
Nippon Life India Asset Management (NAM India) is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including Exchange Traded Funds, managed accounts, including portfolio management services, alternative investments funds and pension funds; and offshore funds and advisory mandates. It also acts as an advisor for India focused equity & fixed income funds in Japan and in Thailand.
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