Strong equity inflows to boost Indian asset management firms - Nuvama

Aditya Birla Sun Life Amc

11/12/2023 08:23

** With outlook for equity markets improving, regulatory
concerns waning, asset management co stocks can do well in FY24,
Nuvama says
    ** Benchmark Nifty 50 index  .NSEI  up 16% YTD, extending
record high rally
    ** Nuvama picks HDFC Asset Management  HDFA.NS  and Nippon
Life India Asset Management  NIPF.NS  as its top bets
    ** For FY24 to date, strong SIP inflows have driven active
equity net inflows to 1.22 trillion Indian rupees  ($14.63
billion)(+18.9 YoY), Nuvama says
    ** Brokerage adds equity assets under management are at
all-time high of 25.8 trillion rupees 
    ** HDFA last down 0.2% at 2,981 rupees and NIPF up 1.1% at
438.50 rupees
    ** HDFA up 36% YTD, NIPF up 76% so far this year


($1 = 83.3797 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))