Page 3 - Nippon Life Company

NAM India Q1 profit up 25% to Rs 156 cr; income falls to Rs 336.18 cr

Nippon Life India Asset Management Ltd (NAM India) on Monday reported a 25 per cent jump in its profit after taxto Rs 156 crore for the June quarter. The company had posted a profit after tax of Rs 125.6 crore in the year-ago period, NAM India said in a statement. Total income for the quarter under review dropped to Rs 336.18 crore from Rs 360.41 crore in the April-June period of the preceding fiscal. NAM India is theasset manager of Nippon India Mutual Fund (NIMF). "Post the COVID-related events in Marchand April, NIMF saw improvement in investor flows and growth in AUM, in line with the industry. Q1 FY21 saw a rise of 25 per cent in profits, driven by better investor stickiness, strength in the retail segment, and cost efficiencies. "Post transition, our business recovery continues as planned. We have onboarded over 370 institutional investors in the last nine months, and have attracted fresh flows from several HNIs/ family offices," the company's CEOSundeep Sikka said. NAM Ind

Nippon Life India, HDFC AMCs: Surprise winners among financial stocks

As a result, analysts at Prabhudas Lilladher Research expect the valuation gap between the two AMCs to narrow, though HDFC AMC could retain its top position.

Nippon Life India AMC Q3: PBT jumps 18% to Rs 193 cr on rise in asset base

Management says post-rebranding several major investors have come back

Nippon India MF looks to regain lost market share after RNam takeover

RNam market share slid from 12% to 8.5% in 4 years; Re-branded fund house looks to regain investor assets in debt-oriented schemes

Japan's Nippon Life becomes sole sponsor of RNam, raises stake to 75%

With this transaction, Japan-based Nippon Life's gross investments in RNam is now over Rs 7,800 crore

Nippon Life makes open offer to acquire 23% stake in RNAM for Rs 3,179 cr

Reliance Capital has already signed the binding definitive agreements with Nippon Life Insurance of Japan