HDFC AMC Q1 Review - Overall Inflows To Support Earnings: ICICI Securities
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

HDFC AMC Q1 Review - Overall Inflows To Support Earnings: ICICI Securities

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.

ICICI Securities Report

HDFC Asset Management Company Ltd.’s Q1 FY22 result was lower-than expectations due to higher employee costs and continued absence of yield improvement despite higher equity mix.

The market share of equity/debt and unique investors/systematic transfer plan did not improve on a QoQ basis.

Business levers ahead include:

  1. building on the performance, which can improve flows as indicated by HDFC AMC's management;

  2. new product pipeline; and

  3. possible industry momentum given the net inflows and increase in systematic investment plan witnessed in April 2021 – June 2021 at aggregate level.

However, fruition of these levers might take some time and gain in flow share might come at higher cost.

Click on the attachment to read the full report:

ICICI Securities HDFC AMC Q1FY22 Result Update.pdf

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