Nippon Life India AMC Q1 Review - Retail Participation Robust; Inflows Should Improve: ICICI Direct
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ICICI Direct Report
Nippon Life India Asset Management Ltd. posted steady quarter with marginal uptick in market share.
Assets under management growth of 33% YoY, 5% QoQ was led by 44% YoY and 5.2% QoQ rise in equity AUM while exchange-traded funds also increased 11.7% QoQ.
Other income declined 35% YoY to Rs 67 crore, mainly due to higher mark to market in base year.
Nippon Life's yields declined ~3 basis points QoQ to 50 basis points mainly on account of lower total expense ratio due to increase in fund size, higher flows into passive and short duration debt funds, which are low yielding.
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