Reliance AMC overtakes HDFC AMC to emerge as the most profitable AMC
Mumbai: The year 2010-11 has been a mixed one for the top fund houses. This year 5 AMCs have shown growth in their net profit. Last year 9 top fund houses recorded a growth in their PAT.
Franklin Templeton recorded 65% growth in PAT this year at Rs. 97 crore from Rs. 59 crore last year. Birla Sun Life posted 75% growth in PAT at Rs. 85 crore from Rs. 48 crore last year. SBI AMC saw its PAT growby 4% at Rs.79 crore this fiscal.
ICICI Pru, DSP BlackRock, Tata and Kotak witnessed a drop in their net profits this year. UTI AMC is yet to declare its results.
“Declining equity flows and the entry load ban, which would have its full impact in FY10-11 would be the major contributors to this declining profitability,” says Dhruva Raj Chatterji, Senior Research Analyst, Morningstar India.
The inflows in equity schemes have been subdued this year. As on March 2011, net outflows from equity schemes stood at Rs. 13,405 crore
PAT (In Rs. Cr) Fund House FY 10-11 Percentage Growth FY 09-10 Percentage Growth FY 08-09 Reliance AMC 261 34% 195 47% 133 HDFC AMC 242 16% 208 61% 129 UTI AMC* NA NA 170 48% 115 Franklin Templeton AMC * 97 65% 59 -43% 104 Birla Sun Life AMC 85 75% 48 422% 9 SBI AMC 79 4% 76 10% 69 ICICI Prudential AMC 72 -44% 128 17906% 1 DSP AMC 47 -8% 51 26% 41 TATA AMC 17 -47% 32 21% 27 Kotak AMC 11 -84% 66 534% 10
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