AMCs - Flow Trends, Improving SIPs Lift FY22E Earnings Outlook: ICICI Securities
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ICICI Securities Report
We expect asset management companies will benefit from the improving equity mix for the third successive quarter in Q2 FY22E.
End to end, equity assets under management has grown by 21% between March and August 2021.
This was aided by strong equity flows (dominated by new fund offers in July-Aug-21) of Rs 1.2 trillion (excluding-Index / passive and including hybrid funds) in five months FY22-to-date and improving systematic investment plan book (flows and folios).
This has resulted in a strong possibility of earnings upgrades in FY22.
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