Nippon Life India Asset Management rose 2.13% to Rs 440.60 after the company's net profit rose 47.08% to Rs 213.72 crore on 31.86% increase in total income to Rs 425.08 crore in Q2 September 2021 over Q2 September 2020.
Profit before tax (PBT) jumped 48.09% to Rs 282.80 in Q2 September 2021 over Q2 September 2020. Operating profit was Rs 186 crore, an increase of 46% year-on-year (YoY).
Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund (NIMF).
As on 30 September 2021, NAM India's assets under management was Rs 4,00,831 crore ($54.2 billion).
For the quarter ended 30 September 2021, NIMF's overall AUM market share rose to 7.33%, an increase of 9 basis points as against the quarter ended 30 June 2021.
Also Read
For the quarter ended 30 September 2021, NIMF's average assets under management was Rs 2,65,459 crore ($35.9 billion), an increase of 33%.
For the quarter ended 30 September 2021, share of equity assets rose to 43% of NIMF's AUM as against 39% for the quarter ended 30 September 2020.
As on September 2021, NIMF has one of the largest retail assets in the Industry, at Rs 77,657 crore ($10.5 billion). Retail assets contributed 28% to NIMF's AUM.
As on 30 September 2021, NIMF is one of the largest ETF players with AUM of Rs 49,640 crore ($6.7 billion) and a market share of 13%.
Sundeep Sikka, ED & CEO, NAM India, said: "Q2 was a strong quarter on all important parameters. Higher operating profit (+46%) and wider investor base (+39%) was driven by strong fund performance, robust risk management, and granular distribution network. Overall market share has grown by 21 basis points in H1. We continue to focus onprofitable growth, strengthening the digital ecosystem and expanding the overall industry size. By leveraging on these key capabilities and, imbuing ESG principles across the organisation, we are confident of creating long term value for all stakeholders."
Meanwhile, the board has declared an interim dividend of Rs 3.50 per equity share and has fixed the record date as 9 November 2021.
Nippon Life India Asset Management is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including exchange traded funds, managed accounts, including portfolio management services, alternative investments funds and pension funds; and offshore funds and advisory mandates. NAM India is the asset manager of Nippon India Mutual Fund's schemes. It also acts as an advisor for India focused equity & fixed income funds in Japan (launched by Nissay Asset Management), and in Thailand (launched by BBL Asset Management). It also manages offshore funds through its subsidiaries in Singapore &Mauritius and,also has representative office in Dubai thereby catering to investors across Asia, Middle East, UK, US, & Europe.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
