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.
Nirmal Bang Report
Nippon Life India Asset Management Ltd. reported revenue of Rs 3,023 million for Q1 FY22, up 29.7% YoY and 0.1% QoQ (3.6% below our estimate).
Nippon Life's YoY revenue growth was driven primarily by healthy mutual fund assets under management growth of 33.5% YoY (up 5.1% QoQ).
Quarterly average assets under management market share improved by 13 basis points QoQ to 7.25%.
Equity AAUM (including exchange-traded funds) grew by 48% YoY and 6.9% QoQ. Debt AAUM (excluding liquid) was down 14.1% YoY (up 5.7% QoQ).
To some extent, the decline in debt AUM indicates normalisation of risk aversion seen last year.
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