Prateek Jain
CFO, Nippon Life India Asset Management
Nippon Life India Asset Management’s revenue from operations climbed 12 per cent to ₹354 crore while the net profit of the company zoomed 107 per cent on YoY basis to ₹236 crore. What were the factors responsible for the company’s performance?
NAM India is a true-blue diversified asset manager with total assets under management of ? 4.04 trillion (USD 49 billion) as of June 30, 2023. In Q1FY24, NAM India’s revenue growth of 12 per cent YoY has been in line with AUM growth of 12 per cent. AUM growth, especially in the equity segment, has been driven by strong scheme performance which has now started to translate into market share gains. Further this has been aided by our strong focus on SIPs and there has been a steady uptick in our systematic flows over the past eight quarters from ₹5.9 billion per month in June 2021 to ₹12.2 billion per month in June 2023. We now have an annualised systematic book of ₹147 billion and expect this SIP juggernaut to snowball further. On the segmental front, we have been focusing on growth in the HNI segment.
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