Asset management firms see surge in other income from mark-to-market gains

Among the listed players, HDFC AMC reported a 65% y-o-y jump in other income in the June quarter, at Rs 79 crore

Asset management companies (AMCs) have seen sharp uptick in other income in the June quarter on the back of mark-to-market (MTM) gains on investment book, aided by a run-up in equity markets and lowering of bond yields.

Among listed players, HDFC AMC reported 65 per cent year-on-year (YoY) jump in other income in the June quarter, at Rs 79 crore.

India Mutual Fund (NIMF) reported nearly threefold jump in other income, surging to Rs 103 crore in the June quarter.

In an earnings call, Milind Barve, managing director of HDFC AMC, said, “There has been benefit of MTM gains on lowering interest rates