HDFC Securities On Asset Management Companies - Subdued But Improvement Expected
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HDFC Securities Report
While increased volatility and active equity outflows of Rs 204.8 billion in FY21 to-date have dented the performance of asset management companies, we do expect a more benign environment as markets are near all-time high levels and Q4 FY21 will see Equity Linked Savings Scheme inflows.
Performance at most listed fund houses except for UTI Asset Management Company Ltd. continued to disappoint as a higher percentage of rated active equity asset under management slipped to underperformance.
Despite weak performance, HDFC Asset Management Company Ltd. continues to be the largest active equity fund manager with a market share of 13.9%.
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