Page 8 - Asset Management

HDFC AMC reports 9% decline in profit to Rs 314 cr in June quarter

HDFC Asset Management Company (AMC) on Friday reported a 9 per cent decline in profit after tax at Rs 314.2 crore in the three months ended June 2022. In comparison, the asset management firm had posted a Profit After Tax (PAT) of Rs 345.4 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's revenue from operations rose 3 per cent to Rs 521.6 crore in the first quarter of FY23 from Rs 507.1 crore in the same quarter preceding fiscal. Its Average Asset Under Management (AAUM) stood at Rs 4.15 lakh crore for the June quarter. The same was Rs 4.17 lakh crore for the corresponding period last year. HDFC AMC, investment manager to HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.

Front-running scandal at Axis Mutual Fund set to rock $465-bn MF industry

Axis Asset Management Co, India's seventh largest mutual fund manager and partly owned by Schroders, in May sacked two employees, including its chief dealer, amid an ongoing internal probe

States to get matching amounts from Centre for SPSEs' privatisation

The Centre has allocated Rs 5,000 crore for disinvestment of SPSEs and asset monetisation

Edelweiss MF dismiss report of business sale, term reports as 'baseless'

We remain excited about the prospects of this business and remain committed to investing in its growth, said Edelweiss MF CEO

Investing all my money in biz not best way to grow wealth: Ambit's Wadhwa

Veteran financier Ashok Wadhwa talks to Pavan Lall about mistakes and opportunities

NAM India's Q4 profit after tax rises by 5% to Rs 175 crore

In comparison, the company had a profit after tax (PAT) of Rs 166.77 crore in the same quarter preceding fiscal, NAM India said in a regulatory filing to stock exchanges

On Sebi diktat, mutual funds step up hunt for risk professionals

The hiring spree is expected to jack up costs for the industry

Baroda BNP Paribas MF's Suresh Soni on markets and more

Baroda Mutual Fund and BNP Paribas Mutual Fund recently merged to become Baroda BNP Paribas Mutual Fund. Its CEO Suresh Soni spoke to Krishna Veera Vanamali on markets and the mutual fund industry

CLSA upgrades HDFC, Nippon Life India AMCs from 'outperform' to 'buy'

CLSA believes domestic AMCs will have huge growth potential, given the huge underpenetration of MFs in the country

SBI planning to offload 6% stake in AMC through initial public offer

SBI currently holds 63 per cent stake in the mutual fund company and the remaining 37 per cent stake is held by AMUNDI Asset Management through a wholly owned subsidiary, Amundi India Holding

Private credit fashions a cautious entry, attracts attention of PE players

Despite differences over the projected size of this market, a growing number of PE funds are testing the waters

Street signs: Large AMCs corner SIP pie, GMP strong for new IPOs and more

Inflows through the SIP route have been strong this financial year, even as lump-sum investments have slid

Renuka Ramnath's PE firm Multiples looks to raise $10 billion by 2030

Elaborating on her strategy, Ramnath, who is CEO, said it was 'fairly ambitious'

We'll follow rule-based active investment style: Rajiv Shastri of NJ AMC

The CEO of an asset management company run by the country's largest MF distributor talks about how the fund house plans to create a niche and avoid conflict of interest

New entrants leveraging technology to attract customers in MF industry

Recent entrants are leveraging technology and low-cost 'passive investing' to attract customers in an industry where market penetration is low

Streamline investment for insurance, pension funds in InvITs: NITI Aayog

A staggered approach should be followed for streamlining of investment guidelines and limits to keep pace with the growth in the InvIT market, it suggested

Sebi's merchant banker order may stretch new AIF timelines, says industry

Regulator's notification has limited international precedent and is unnecessary, say analysts.

UTI AMC first quarter after-tax profit soars 53% to Rs 155 crore

UTI AMC is the investment manager of UTI Mutual Fund.

UTI AMC hits new high ahead of results, rallies 111% from October lows

The stock hit a new high of Rs 994, up 79 per cent from its initial public offer issue price of Rs 554 per share

Vivriti Asset Management launches two debt AIFs

Vivriti Asset Management has raised commitments of over Rs 1,500 crore across its funds and provides tailored debt of Rs 25-75 crore to emerging and mid-sized operating companies, for 2-5 year tenor.