BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
HDFC Asset Management Company Ltd.'s earnings were mixed with QAAuM and revenue being a bit higher which was offset by a miss on ESOP charge of Rs 176 million.
Hence operating income was nearly in-line at Rs 3.65 billion.
PAT was a beat as other income jumped quarter-on-quarter to Rs 1.0 billion mainly led by sale of collateral on Essel group debentures.
Sequentially, equity share rose while that of debt declined.
The recently launched BFS NFO garnered Rs 18.7 billion and other new schemes are lined up which could add ~2% to overall AuM.
Although, market share loss is a worry, equity flows turning positive for the AMC industry could benefit a market leader like HDFC AMC.
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