IIFL AMC's assets under management crosses Rs 50,000 crore mark

Capital Market

IIFL Wealth Management said that the asset base of its wholly owned subsidiary, IIFL Asset Management (IIFL AMC), has crossed Rs 50,000 crore-mark.

The fund house's aggregate assets under management (AUM) comprising alternative assets and mutual fund rose to Rs 50,019 crore from Rs 37,372 on 31 March FY21. The mutual fund AUM stands at Rs.3,453 crore while the alternates and investment mandates are at Rs. 46,566 crore. While the one-year absolute growth in AUM was 87%, the three-year absolute growth was 212%.

The growth in AUM has been achieved mainly on the back of increased inflows into the listed and unlisted funds besides rising traction on long short, real estate and credit funds. IIFL AMC has received an encouraging response from both new institutional clients as well as large distributors in the market.

Karan Bhagat, Founder, MD & CEO, IIFL Wealth & Asset Management, said, We have witnessed a resounding acceptance from UHNIs, HNIs, Family Offices and global institutions and have emerged as an AMC of choice for investments in India."

IIFL Wealth is a private wealth management firm in India. It serves the needs of high net worth and ultra-high net worth individuals, affluent families, family offices and institutional clients through a comprehensive range of tailored wealth management solutions.

The company's consolidated net profit surged 42% YoY to Rs 119 crore in Q1 FY22 from Rs 83 crore in Q1 FY21. Revenue from operations rose by 43% to Rs 283 crore in Q1 FY22 from Rs 199 crore in Q1 FY21.

Also Read

IIFL Wealth Management soars after stellar Q1 performance

Board of IIFL Wealth Management to consider NCD issuance up to Rs 250 cr

Volumes soar at IIFL Finance Ltd counter

Volumes soar at IIFL Wealth Management Ltd counter

Volumes jump at IIFL Wealth Management Ltd counter

Persistent Systems jumps on announcing strategic acquisitions

Sterling and Wilson Solar slips on profit booking; rises over 58% in six months

Sterling & Wilson Solar Ltd leads losers in 'A' group

Asian Paints, Berger Paints extend losses on firm crude oil prices

Niraj Cement Structurals Ltd leads losers in 'B' group

The scrip fell 1.21% to end at Rs 1571.20 on the BSE on Thursday.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Oct 01 2021 | 8:33 AM IST

Explore News