India's HDFC AMC tops performance among listed fund houses, Nuvama says

Aditya Birla Sun Life Amc

06/03/2024 05:58

** Enhanced fund performance along with strong distribution
network led to rising AUM in outperforming fund schemes of HDFC
Asset Management Co  HDFA.NS , says Nuvama Institutional
Equities
    ** Nuvama says HDFC AMC's fund performance improved as rated
AUM in outperforming schemes rose to 88% from 74.8% in May 2023
    ** Nippon Life India Asset Management's  NIPF.NS  large-cap
and equity funds contributed to strong fund performance, taking
NIPF's AUM in outperforming schemes to 70.9% from 45.5% in May 
    ** Brokerage says AUM performance improved for Aditya Birla
Sun Life AMC  ADIE.NS  while flagging a deterioriation in UTI
Asset Management Co's  UTIA.NS  AUM
    ** Nuvama maintains "hold" on HDFA, NIPF, while retaining
"buy" rating on ADIE, UTIA
    ** Nuvama adds unlisted ICICI Prudential AMC has highest
share of rated AUM in outperforming schemes at 90.6%
    ** As of last close, HDFA up 17.9% YTD, NIPF risen 14.6%
    ** ADIE climbed 9.4% YTD, UTIA gained ~2%
    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))