Page 2 - Asset Management

CAMS Q4 results: PAT rises 38.5% to Rs 103 cr, revenue up 24% to Rs 310 cr

Registrar and transfer agent for mutual funds CAMS on Thursday reported a 38.5 per cent surge in profit after tax to Rs 103 crore for three months ended March this year, driven by robust performance across the business streams. In comparison, the company had posted a profit after tax (PAT) of Rs 74.36 crore in the year-ago period, Computer Age Management Services Ltd (CAMS) said in a statement. Its revenue grew 24.6 per cent to Rs 310.46 crore in January-March of the financial year 2023-24 (FY24) from Rs 249.24 crore a year ago. "We had an excellent quarter in terms of posting strong financial results, with quarterly revenue and PAT growing at 24.6 per cent and 38.7 per cent YoY (year-on-year). "All these numbers are a culmination and deep vindication of robust performance across our revenue streams and are reflective of deep business and operational focus of our teams," Anuj Kumar, Managing Director of CAMS, said. The company said that revenues from the mutual fund business rose

BlackSoil's FY24 disbursement grows 40%; firm exited 18 deals, entered 36

The company's year-on-year disbursement grew by 110%, and its Assets Under Management (AUM) increased by nearly 50 per cent year-on-year

Fund Pick: Nippon India Large Cap Fund leads from the front, says CRISIL

The fund has consistently outperformed its peers in all trailing periods under analysis

Jio Financial Services Q4 results: Net profit up 5.8% to Rs 311 crore

The total income of the entity, which is a holding company for businesses including lending, insurance broking, asset management etc., rose to Rs 418 crore in Q4FY24 from Rs 414 crore in Q4FY23

Kotak Alternate Asset Managers raises Rs 2,000 cr to invest in equities

The fund aims to solve the challenge of building and maintaining equity portfolios amid the difficulties faced by investors due to the market volatalities

Blackstone plans to invest $25 billion in India private equity asset

The New York-based firm also intends to bring on 20 more investment professionals to its asset management business in India and double its office space in Nariman Point in downtown Mumbai

Ombudsman system, sustainable clothing: Top personal finance stories

Our top stories this week explain how financial institutions are supposed to solve customers' complaints and what to wear in summer

Top Indian asset manager stress tests show delays in exiting small caps

A delay in exiting holdings of such stocks could defer the return of funds to investors, who expect to receive their money back within two to three days, as per current industry practice

Morgan Stanley cuts 9% of China fund unit staff amid market rout: Report

This would be the first time Morgan Stanley has cut staff at the China fund unit since it bought out its local partner's 36% stake in the loss-making business for about $54 million in 2023

CAMS Q3 results: Net profit rises 21% to Rs 89 cr, revenue up 19%

Computer Age Management Services Ltd (CAMS), registrar and transfer agent of mutual funds, on Tuesday reported 21 per cent growth in net profit at Rs 89.29 crore for three months ended December 2023. The company had logged a net profit of Rs 73.72 crore in the same quarter of preceding financial year (FY23), CAMS said in a statement. Revenue in the quarter under review rose 19 per cent to Rs 289.68 crore, as against Rs 243.57 crore in the year-ago period. "Revenue growth at 19 per cent and PAT (profit after tax) growth at 21 per cent year-on-year is the culmination of robust performance across our revenue streams. Mutual funds asset growth trajectory took the overall asset base we service to historic high of Rs 34 lakh crore," company's managing director Anuj Kumar said. CAMS is a financial infrastructure and service partner to the asset management industry and offers platform-based services to the Banking, Financial Services and Insurance (BFSI) segment. With a market share of ov

FY24 asset monetisation falls short of target at Rs 1.50 trn: Official

The central government and Central Public Sector Enterprises are estimated to monetise assets worth Rs 1.50 lakh crore in the current fiscal, a tad lower than the targeted of Rs 1.75 lakh crore, a senior official said. Under the National Monetisation Pipeline, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been estimated at Rs 6 lakh crore over a four-year period, from FY 2022 to FY 2025. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said about Rs 1.75 lakh crore was the target for asset monetization this year and "we are going to achieve something like Rs 1.50 lakh crore through monetisation". Pandey said monetisation is going on through infrastructure investment trust (InvITs), Toll Operate Transfer (TOT) in mining, road and power sector and is beginning to happen in the petroleum sector. "The asset monetisation proceeds do not visibly appear in the ..

Brookfield planning $1.2 billion of debt to buy India assets: Reports

Investment firm Brookfield is betting on growth in India, whose economy is outpacing that of other large countries and where smartphone usage is increasing rapidly

Fund houses on Sebi's radar for sops to mutual fund distributors

Amfi writes to AMCs for second time in 10 months, asks them to withdraw such programmes

Nuvama Asset Management, Cushman & Wakefield plan commercial realty fund

The fund will eye opportunities in Grade A+ office space across micro markets in the top 6 cities of Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad

Investment funds managers face tougher rules on investor cash calls

Global regulators published tougher rules for managers of open-ended investment funds to ensure they can meet investor cash calls in a crisis without need for emergency liquidity from central banks

AMCs get a revenue boost from strong retail inflows via mutual funds

Assuming 10% incremental annual inflows and market appreciation of 5-7%, AUM could continue to grow 15% in the medium term

UTI AMC Q2 results: PAT declines 8% to Rs 183 crore, revenue falls 7%

UTI Asset Management Company on Wednesday reported an 8 per cent decline in profit after tax to Rs 183 crore in the September quarter. It had posted a profit after tax of Rs 200 crore in the same quarter of the preceding fiscal, according to a regulatory filing. The company's total revenue from operations dropped 7 per cent to Rs 404 crore during the quarter under review. In the year-ago period, the same was at Rs 435 crore. For the quarter ended September 30, 2023, UTI Mutual Fund's average assets under management stood at Rs 2.67 lakh crore and it had a market share of 5.68 per cent. Imtaiyazur Rahman, Chief Executive Officer of UTI AMC, said the Indian mutual fund industry has constantly worked towards building financial literacy in the country for creating awareness about various products and in enabling investors to make informed investment decisions. "With our growing geographical and digital reach in the country and our expertise in investment management combined with a lar

See greater comfort in largecaps compared to small and midcaps: UTI AMC CIO

Subramaniam says pharmaceutical and healthcare sectors are reasonably valued and are showing incremental improvements in their balance sheets

Review of Resource Management Group issue completed, action taken: TCS

TCS stated that of the 19 employees, 16 have been separated from the company for code of conduct violations

Balanced hybrid funds: Mitigate risks and earn stable investment returns

Remember these funds have a limited track record currently; they will also not receive equity tax treatment