Nippon Life Q2 Review - Improved Equity Fund Performance Augurs Well: Yes Securities
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Yes Securities Report
Nippon Life India Asset Management Ltd.'s revenue from operations at Rs 3279 million was up 8.5%/26.8% QoQ/YoY, somewhat lagging the growth of quarterly average assets under management at 10%/33% QoQ/YoY.
Share of equity in AUM (including hybrid funds) at 43% was up 200 basis points QoQ and 400 bps YoY (calculated on rounded off figures).
Share of B-30 in AUM at 18% was down 110 bps QoQ and 30 bps YoY. Share of mutual fund distributors, banks and NDs was 57%, 22% and 21%, respectively in overall AUM.
Operating profit margin for the quarter, at 59.0%, was up 28 bps QoQ and 625 bps YoY.
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