Page 3 - Aum

Mortgage firm SRG Housing Finance aims to hit Rs 750 cr AUM next fiscal

Mortgage firm SRG Housing Finance plans to achieve Rs 750 crore asset under management (AUM) during the next financial year, a top company official has said. "We have achieved AUM of Rs 500 crore in the last quarter. We hope to achieve the next milestone of Rs 750 crore in 2024-25," SRG Housing Finance Managing Director Vinod Kumar Jain told PTI. The company got listed on bourses in August this year. Currently, Rajasthan and Gujarat contribute about 60 per cent of its business. The mortgage firm plans to expand its footprint in southern states. The company will also open its branches in Andhra Pradesh, Telangana and Karnataka in the next few months, Jain said. Also, from April next year, the treasury and pan India business team will work from Mumbai, he added. During the second quarter of the current financial year, the mortgage firm recorded 20 per cent growth to Rs 5.26 crore compared to Rs 4.39 crore a year ago. Its total income stood at Rs 31.20 crore, with a growth of 37.9

Kirloskar Group's NBFC aims to add Rs 800 crore to AUM by March 2024

Arka Fincap, a non-bank lender promoted by the Kirloskar Group, on Tuesday said it is aiming to add another Rs 800 crore to its Assets Under Management (AUM) by March 2024. The shadow bank, which announced its plans to raise up to Rs 300 crore from a non-convertible debentures issue, will be focusing on lending to small businesses going forward, according to a statement. Its AUM currently stands at Rs 4,200 crore and the NBFC is aiming to close FY24 with an AUM of Rs 5,000 crore, the statement said. Further, it said the company plans to open 10 more branches by March to take its overall network to 40 branches, and will be adding about 175 employees to take its overall staff size to 500 by March 2024. Kirloskar group had infused Rs 1,000 crore into the NBFC commenced operations in 2019. It is offering coupons of up to 10 per cent on the NCDs, the statement said, adding that the NCDs come in three tenors of 24 months, 36 months and 60 months.

Chennai-based Shrinithi Capital aims to double AUM to Rs 600 cr by 2024

Shrinithi Capital Pvt Ltd engaged in commercial vehicle and two-wheeler loans aims to double its total assets under management to Rs 600 crore by 2024, a top official said on Saturday. The Chennai-headquartered firm currently has assets under management of Rs 300 crore. Under its expansion drive, Shrinithi Capital Pvt Ltd has planned to strengthen foot prints in southern parts of the country. "Shrinithi's rapid ascent in the industry, coupled with exemplary collection figures even during challenging times, has garnered attention across the sector. As part of our expansion process, we plan to open 30 more branches in South India and aim to double our AUM from Rs 300 crore to Rs 600 crore by 2024," company managing director and CEO S Sellamani said in a statement. The company today tied up with ESAF Small Finance Bank to offer a business correspondent facility. Sellamani and ESAF Small Finance Bank executive vice president Hari Velloor exchanged documents as part of the tie-up betwe

Axis AMC eyes Rs 3 trillion AUM by March; expects Rs 2,500 cr from new fund

Axis Mutual Fund on Wednesday launched a manufacturing fund and has set a target of collecting at least Rs 2,500 crore during the offer period. The Axis Bank subsidiary which competes with 44 other players, is also eyeing around Rs 3 lakh AUM by the end of this fiscal, given the market rally. The fund house opened the year with an AUM (assets under management) over Rs 2.25 lakh crore. The open-ended equity scheme represents the manufacturing theme and opens for subscription from December 1 and closes on December 15. The fund will track Nifty manufacturing index and will be managed by Shreyash Devalkar and Nitin Arora, the company announced here. If 10 per cent of the investment is redeemed/switched within 12 months from the date of allotment there will be no exit load, while for the remaining investment there will be a 1 per cent charge, B Gop Kumar, managing director & chief executive of the fund house said. On the overall AUM target for the year, Kumar said the growth has been

Medium & small NBFCs may require debt funding worth Rs 2.2 trn: ICRA

The capital profile of the larger NBFCs has improved after FY 2019 as the growth slowed down

BS BFSI Summit: Rs 50 trn MF AUM is just tip of the iceberg, say experts

At the end of September 2023, the industry AUM stood at Rs 47.8 trillion

AUM to see 18-20% growth during second half: Shriram Finance's Revankar

Executive vice chairman of Shriram Finance, believes that the company's assets under management (AUM) may see healthy growth during the rest of the year as well

Small, midcaps highly cyclical, best to invest through SIPs: WhiteOak CEO

In an interaction with Abhishek Kumar, Somaiyaa says investors should prefer hybrid funds in the current scenario

Near-term positives priced in for HDFC Asset Management Company stock

HDFC Bank works on open architecture and HDFC AMC's share in the bank's mutual fund business was only 24 per cent

Incred Finance plans to raise Rs 300 crore via non-convertible debentures

The company plans to allocate 75 per cent of the net proceeds for purposes such as onward lending, financing and the repayment of existing borrowings, including interest and principal

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

Mutual fund industry sees best AUM growth in two years, shows data

The growth in AUM results from both market performance and fresh investments

Five-year lock-in facilitates long-term orientation in retirement funds

Investors unlikely to withdraw during market downturns or for other needs may do without them

Sebi mandates granular disclosure for certain FPIs, prescribes timeline

FPIs holding more than 50 per cent of their equity Asset Under Management in a single corporate group will be required to comply with the requirements for additional disclosures

SRG Housing Finance plans to surpass Rs 1,000 cr AUM in 3-4 next years

The loan disbursement of the company in the entire FY23 stood at Rs 191 crore which the management project to move towards Rs 250 to 300 crore in FY24

New entrants slow off the blocks in top-heavy mutual fund industry

Five new fund houses Rs 12,400 crore AUM during their initial period

Putting all eggs in one basket

The dominance of banks in the mutual fund space raises questions about financial stability that require careful examination

Moderating sales, valuations concerns pull down mutual fund deployment

Moderating sales, valuation concerns pull down deployment; net inflows from domestic equity funds at Rs 2,980 cr since April

Investors can eliminate price-NAV mismatch by opting for index funds

Long-term investors can optimise costs by purchasing ETFs through low-cost brokers

Poonawalla Fincorp's AUM grows 41% YoY in Q1FY24 to at Rs 17,770 crore

Sequentially, the AUM grew by 10% over the March 2023 quarter