Page 4 - Aum

Mutual Fund assets go past Rs 50 trillion; SIP-tied AUM hits Rs 10 trn

The record AUM growth in 2023 was underpinned by a sharp rally in the equity market

IFSCA may allow Indian listed firms to launch QIP, tax sops for listing

Suggests tax sops for direct listing

SIP accounts AUM jumps 38% in 2023, share in mutual fund assets tops 19%

Monthly SIP investments have been going up consistently, rising from Rs 8,023 crore in January 2021 to Rs 17,073 crore in November 2023

Bajaj Allianz Life's assets under management crosses Rs 1 lakh crore

Bajaj Allianz Life Insurance on Wednesday said its assets under management has surpassed the Rs 1 lakh crore mark. The Pune-based leading private sector life insurance player in a statement said this makes them one of the fastest growing life insurers among the top-10 players and the AUM touching Rs 1 lakh crore reflects a 1.8 times growth from Rs 56,085 crore in FY20. Bajaj Allianz Life Managing Director and Chief Executive Tarun Chugh said this is a milestone and is a testament to the trust that the customers have in the company. In the last three years till August 2023, the company has grown exponentially with the individual new business annual premium equivalent growing at 41.3 per cent at a compounded rate as against the industry growth rate of 13.5 per cent and the private sector's 22.4 per cent. This significant growth revival has helped the company achieve the Rs 1,00,000 crore AUM milestone. At an overall industry level, the market share of Bajaj Life has almost doubled f

Spandana Sphoorty Financial eyes AUM to grow to Rs 28,000 cr by FY28-end

As for geographic diversification, Spandana plans to reduce the share of the top three states to 36 per cent by FY28 from the current 44 per cent. The share of any one state would be capped at 12 %

Consistent inflows push small-cap funds AUM past Rs 2 trn mark in Nov

Strong, incessant net flows and favourable market conditions propped up the assets base for the small-cap mutual fund category to cross Rs 2 lakh crore mark in November-end, a sharp surge of 69 per cent from a year earlier. On a month-on-month basis, the Assets Under Management (AUM) of the category grew 10 per cent to Rs 1.99 lakh crore, data with the Association of Mutual Funds in India (AMFI) showed. Since the fourth quarter of 2019-20, the AUM for the category has seen a phenomenal rise, due to favourable market movement, along with record net inflows. Small-cap funds attracted Rs 37,178 in this year (till November). This includes Rs 3,699 crore last month and a record fund infusion of Rs 4,495 crore in October. On the other hand, the large-cap category saw a pull out of Rs 2,688 crore in the first 11 months of this year. "A few fund houses have limited the inflows in their small-cap funds over the last quarter given the sharp rise in flows and concerns on valuations," Morning

Mortgage firm SRG Housing Finance aims to hit Rs 750 cr AUM next fiscal

Mortgage firm SRG Housing Finance plans to achieve Rs 750 crore asset under management (AUM) during the next financial year, a top company official has said. "We have achieved AUM of Rs 500 crore in the last quarter. We hope to achieve the next milestone of Rs 750 crore in 2024-25," SRG Housing Finance Managing Director Vinod Kumar Jain told PTI. The company got listed on bourses in August this year. Currently, Rajasthan and Gujarat contribute about 60 per cent of its business. The mortgage firm plans to expand its footprint in southern states. The company will also open its branches in Andhra Pradesh, Telangana and Karnataka in the next few months, Jain said. Also, from April next year, the treasury and pan India business team will work from Mumbai, he added. During the second quarter of the current financial year, the mortgage firm recorded 20 per cent growth to Rs 5.26 crore compared to Rs 4.39 crore a year ago. Its total income stood at Rs 31.20 crore, with a growth of 37.9

Kirloskar Group's NBFC aims to add Rs 800 crore to AUM by March 2024

Arka Fincap, a non-bank lender promoted by the Kirloskar Group, on Tuesday said it is aiming to add another Rs 800 crore to its Assets Under Management (AUM) by March 2024. The shadow bank, which announced its plans to raise up to Rs 300 crore from a non-convertible debentures issue, will be focusing on lending to small businesses going forward, according to a statement. Its AUM currently stands at Rs 4,200 crore and the NBFC is aiming to close FY24 with an AUM of Rs 5,000 crore, the statement said. Further, it said the company plans to open 10 more branches by March to take its overall network to 40 branches, and will be adding about 175 employees to take its overall staff size to 500 by March 2024. Kirloskar group had infused Rs 1,000 crore into the NBFC commenced operations in 2019. It is offering coupons of up to 10 per cent on the NCDs, the statement said, adding that the NCDs come in three tenors of 24 months, 36 months and 60 months.

Chennai-based Shrinithi Capital aims to double AUM to Rs 600 cr by 2024

Shrinithi Capital Pvt Ltd engaged in commercial vehicle and two-wheeler loans aims to double its total assets under management to Rs 600 crore by 2024, a top official said on Saturday. The Chennai-headquartered firm currently has assets under management of Rs 300 crore. Under its expansion drive, Shrinithi Capital Pvt Ltd has planned to strengthen foot prints in southern parts of the country. "Shrinithi's rapid ascent in the industry, coupled with exemplary collection figures even during challenging times, has garnered attention across the sector. As part of our expansion process, we plan to open 30 more branches in South India and aim to double our AUM from Rs 300 crore to Rs 600 crore by 2024," company managing director and CEO S Sellamani said in a statement. The company today tied up with ESAF Small Finance Bank to offer a business correspondent facility. Sellamani and ESAF Small Finance Bank executive vice president Hari Velloor exchanged documents as part of the tie-up betwe

Axis AMC eyes Rs 3 trillion AUM by March; expects Rs 2,500 cr from new fund

Axis Mutual Fund on Wednesday launched a manufacturing fund and has set a target of collecting at least Rs 2,500 crore during the offer period. The Axis Bank subsidiary which competes with 44 other players, is also eyeing around Rs 3 lakh AUM by the end of this fiscal, given the market rally. The fund house opened the year with an AUM (assets under management) over Rs 2.25 lakh crore. The open-ended equity scheme represents the manufacturing theme and opens for subscription from December 1 and closes on December 15. The fund will track Nifty manufacturing index and will be managed by Shreyash Devalkar and Nitin Arora, the company announced here. If 10 per cent of the investment is redeemed/switched within 12 months from the date of allotment there will be no exit load, while for the remaining investment there will be a 1 per cent charge, B Gop Kumar, managing director & chief executive of the fund house said. On the overall AUM target for the year, Kumar said the growth has been

Medium & small NBFCs may require debt funding worth Rs 2.2 trn: ICRA

The capital profile of the larger NBFCs has improved after FY 2019 as the growth slowed down

BS BFSI Summit: Rs 50 trn MF AUM is just tip of the iceberg, say experts

At the end of September 2023, the industry AUM stood at Rs 47.8 trillion

AUM to see 18-20% growth during second half: Shriram Finance's Revankar

Executive vice chairman of Shriram Finance, believes that the company's assets under management (AUM) may see healthy growth during the rest of the year as well

Small, midcaps highly cyclical, best to invest through SIPs: WhiteOak CEO

In an interaction with Abhishek Kumar, Somaiyaa says investors should prefer hybrid funds in the current scenario

Near-term positives priced in for HDFC Asset Management Company stock

HDFC Bank works on open architecture and HDFC AMC's share in the bank's mutual fund business was only 24 per cent

Incred Finance plans to raise Rs 300 crore via non-convertible debentures

The company plans to allocate 75 per cent of the net proceeds for purposes such as onward lending, financing and the repayment of existing borrowings, including interest and principal

Balanced hybrid funds: Mitigate risks and earn stable investment returns

Remember these funds have a limited track record currently; they will also not receive equity tax treatment

Mutual fund industry sees best AUM growth in two years, shows data

The growth in AUM results from both market performance and fresh investments

Five-year lock-in facilitates long-term orientation in retirement funds

Investors unlikely to withdraw during market downturns or for other needs may do without them

Sebi mandates granular disclosure for certain FPIs, prescribes timeline

FPIs holding more than 50 per cent of their equity Asset Under Management in a single corporate group will be required to comply with the requirements for additional disclosures