Reliance Nippon Sees Flows From Smaller Cities, Towns Increasing
Reliance Nippon Life Asset Management Company continues to focus on retail and profitable growth, as it sees flows picking up from smaller cities. The Anil Ambani-promoted company, has increased its presence in 89 locations, which it expects will add to the company’s operational leverage going forward.
“While we continue to see flows from bigger cities and towns, there has been an increase in flows from smaller cities on an incremental basis,” RNAM CEO Sundeep Sikka BloombergQuint in an interview.
There has been an increase in the amount of global inflows from Japan, Thailand, and Europe he added.
The asset manager’s profit increased 25 percent to Rs 130 crore for the December quarter of the current fiscal. The company's revenues stood at Rs 470 crore in the October-December quarter, a growth of 31 percent over the year-ago period, it said in a statement.
The board has announced maiden interim dividend of Rs 5 per share post listing. Reliance Nippon’s assets under management increased by 17 percent to Rs 3.88 lakh crore as on Dec. 31, 2017, across mutual funds, pension funds, managed accounts and offshore funds.