ABSLAMC

Jan 27 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• DEC-QUARTER CONSOL NET PROFIT 2.24 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.45 BILLION RUPEES

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Oct 28 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• SEPT-QUARTER CONSOL NET PROFIT 2.42 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 4.24 BILLION RUPEES

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Further company coverage: ADIE.NS

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Aug 29 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• ADITYA BIRLA SUN LIFE AMC - NAMES PRADEEP SHARMA AS CFO

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July 24 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• ADITYA BIRLA SUN LIFE AMC JUNE-QUARTER CONSOL NET PROFIT 2.36 BILLION RUPEES

• ADITYA BIRLA SUN LIFE AMC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.87 BILLION RUPEES

Further company coverage: ADIE.NS

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April 26 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• DIVIDEND OF 13.5 RUPEES PER SHARE

• ADITYA BIRLA SUN LIFE AMC MARCH-QUARTER CONSOL NET PROFIT 2.08 BILLION RUPEES VERSUS PROFIT 1.36 BILLION RUPEES

• ADITYA BIRLA SUN LIFE AMC MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.66 BILLION RUPEES VERSUS 2.97 BILLION RUPEES

Source text for Eikon: ID:nNSE7ZKftd

Further company coverage: ADIE.NS

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** Shares of HDFC Asset Management Company HDFA.NS rise 2.25% to 3,726.70 rupees

** JP Morgan upgrades the stock to "overweight" from "neutral", raises PT to Street-high of 4,450 rupees

** The new PT implies an upside of 22% in nine months over its last close

** Brokerage values stock at 38 times 12-month forward earnings

** HDFA is trading at trailing twelve months (TTM) P/E of 43.81, compared to Aditya Birla Sun Life ADIE.NS, Nippon Life India Asset Management Company, and UTI Asset Management Company UTIA.NS, whose TTM P/E is in between 16-35 as per LSEG data

** JP Morgan expects HDFA to benefit from higher fund inflows

** Adds risk around regulations is largely mitigated, sees stable margins on the back of 25% rise in assets under management in FY24

** The avg recommendation of 19 analysts tracking HDFA is equivalent to "buy"; median TP, excluding JP Morgan's, is 3,440 rupees - LSEG data

** HDFA shares up 16.6% in 2024 so far, compared to 2% drop in financial services index .NIFTYFIN

(Reporting by Bharath Rajeswaran in Bengaluru)

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March 18 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• ADITYA BIRLA CAPITAL AND SUN LIFE (INDIA) AMC INVESTMENTS PROPOSE TO SELL 11.47% STAKE IN ADITYA BIRLA SUN LIFE AMC VIA OFFER FOR SALE - EXCHANGE FILING

• FLOOR PRICE OF ADITYA BIRLA SUN LIFE AMC OFFER FOR SALE AT 450 RUPEES PER SHARE - FILING

Source text for Eikon: ID:nBSE1Kp7lN

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** 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)

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By Jayshree P Upadhyay

Mumbai, Feb 9 (Reuters) - Several Indian asset managers said they are moving, or planning to move, some offshore fund business from financial centres such as Dubai and Singapore to a finance hub in the western state of Gujarat to gain better access to India's capital markets.

The Indian government is promoting the Gujarat International Finance Tec-City, or GIFT City, as a "gateway for global capital and financial services for the economy" and is trying to attract companies through tax-breaks and other incentives.

In the last six months, about eight of the 10 biggest Indian asset managers by assets have either relocated their business, or set up new funds or filed for permits to move to GIFT City, according to executives at these funds.

"The stable regulatory regime and proximity to the Indian markets is driving our decision," said Swarup Mohanty, chief executive of Mirae Asset Investment Managers, which has shifted a $200 million Hong Kong based fund to GIFT City and is in "active" consideration to move a second fund.

Mirae Asset Investment Managers is the Indian unit of South Korea's Mirae Asset Financial Group.

Mirae expects to manage $435 million out of GIFT City in the near term. The fund has a total of 1.46 trillion Indian rupees ($17.58 billion) of assets under management in India.

GIFT City offers companies that set up there a 10-year tax break and does not charge taxes on transfer of funds from overseas jurisdictions. There are no capital gains taxes for investing in units set at up GIFT City, similar to Singapore or Dubai.

"It is substantially more cost effective to run a fund in GIFT City as compared to Mauritius and Singapore due to lower cost of living, rentals and cost of manpower," said Sachin Samant, president banking and financial institutions group at Kotak Mahindra Bank. The bank has an office at GIFT City and has been helping funds set up their operations there.

DSP Mutual Fund, which manages $20 billion in assets in India and offshore, plans to move its Mauritius-based operation, which manages $450-500 million in assets, to GIFT City by March, said Jay Kothari, a senior vice-president.

Aditya Birla Sun Life AMC, India's sixth largest asset manager with 3.08 trillion rupees under management, is also moving operations from Dubai and Singapore to GIFT City.

"Outside of multiple inbound funds, we have one outbound fund and have an approval to set up an ESG-focused fund with seed investment already in place," said A. Balasubramanian, chief executive for Aditya Birla Sun Life AMC.

Over 80 fund managers with commitments of $30 billion and investments of over $2.93 billion have been set up in GIFT City in the last three years, according to data from the International Financial Services Regulatory Authority (IFSCA), which regulates financial services in GIFT City.

($1 = 83.0290 Indian rupees)

(Reporting by Jayshree P Upadhyay; editing by Miral Fahmy)

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** 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)

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** Shares of Aditya Birla Sun Life AMC ADIE.NS fall as much as 4.8% to 423 rupees, their steepest intraday pct decline since March 27

** Co's Q2 consolidated net profit fell 7.1% YoY

** Expenses surged 11.3% after a jump in employee benefit expenses; revenue climbed 7.7%

** Mean rating of eight analysts is "hold;" median PT is 437 rupees - LSEG data

** Stock last down 2.7%, taking YTD decline to 5%

(Reporting by Varun Vyas in Bengaluru)

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Oct 26 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• SEPT-QUARTER CONSOL NET PROFIT 1.78 BILLION RUPEES VERSUS 1.92 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 3.35 BILLION RUPEES VERSUS 3.11 BILLION RUPEES

Source text for Eikon: ID:nBSE6TNwVh

Further company coverage: ADIE.NS

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Oct 6 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• ADITYA BIRLA SUN LIFE AMC- HARISH KRISHNAN JOINS AS CO-CIO, HEAD EQUITY

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By Jayshree P Upadhyay

Aug 2 (Reuters) - India’s markets regulator will put forth two options to water down its earlier proposal to levy a standard investor fee on mutual funds, to limit the impact on the profitability of the 44.3 trillion-rupee ($537.75 billion) asset management industry, two sources with direct knowledge of the matter said.

The changes, following a push-back from the industry, will be part of a discussion paper likely to be issued in the coming weeks, the sources said. A discussion paper is the first step in crafting regulations.

Both sources declined to be identified as they are not authorised to speak to the media.

A spokesperson for the Securities and Exchange Board of India (SEBI) did not respond to an email sent on Monday.

The regulator is exploring an option to let mutual funds charge higher fees with all expenses, including brokerage and taxes paid by fund houses, the sources said.

SEBI's original proposal allowed fund houses to charge a maximum fee of 2.55% of the assets under management (AUM) with all expenses, including brokerage costs.

A final decision will be taken after receiving feedback on the discussion paper, but the industry expects it to be set at a level which has a "marginal impact" on profitability, said one of the sources.

In a presentation to the regulator in June, the industry argued that the original proposals would squeeze the profitability of almost all asset management companies (AMCs) by 20-80%, said the second source.

The other option is to exclude brokerage and taxes but the investor fees will be lower, the sources said.

Arbitrage funds that buy and sell securities frequently and hence have a higher tax burden, will be allowed to choose the second option, the sources added.

Both options were discussed with an internal committee finalising rules on July 21, according to the first source.

SEBI's discussion paper on mutual fund fees, first released on May 18, drew the ire of the industry, prompting the regulator to defer a decision to it June 29 board meeting.

At a news conference following the board meeting, SEBI's chairperson, Madhabi Puri Buch, said the regulator would issue a fresh discussion paper which will make the industry "quite happy."

($1 = 82.3800 Indian rupees)

(Reporting by Jayshree P Upadhyay; Editing by Dhanya Ann Thoppil)

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By Bharath Rajeswaran

BENGALURU, July 27 (Reuters) - Shares of asset management companies declined on Thursday, a day after Jio Financial Services JIOF.NS, part of the Mukesh Ambani-led Reliance Group said it will form a joint venture with U.S.-based BlackRock Inc BLK.N to launch services in India.

HDFC Asset Management HDFA.NS, UTI Asset Management UTIA.NS and Aditya Birla Sun Life AMC ADIE.NS fell between 0.75% and 2%.

"The fear, probably, in the market is that if they (Jio Financial) go the telecom way and do their asset management foray at very low costs, it could create a little bit of heat among the other existing players," said Amit Kumar Gupta, founder at Fintrekk Capital.

Reliance had upended India's telecoms industry when it launched cheap data plans and free calls, triggering a price war in the sector.

"Whether Jio Financial Services and BlackRock will go all passive or all active (funds) or a mix of both remains to be seen."

Jio Financial and Blackrock are targeting an initial investment of $150 million each in the joint venture, Jio Financial said on Wednesday. The announcement follows the recent demerger of Jio Financial Services from Reliance Industries RELI.NS.

The JV with Jio Financial Services will be BlackRock's second attempt to enter the asset management industry in India, after exiting a JV with local financial firm DSP Group in 2018.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee)

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July 26 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• INDIA'S ADITYA BIRLA SUN LIFE AMC JUNE-QUARTER CONSOL NET PROFIT 1.85 BILLION RUPEES VERSUS 1.03 BILLION RUPEES

• ADITYA BIRLA SUN LIFE AMC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.11 BILLION RUPEES VERSUS 3.05 BILLION RUPEES

Further company coverage: ADIE.NS

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** Shares of Indian asset management cos Aditya Birla Sunlife AMC ADIE.NS, HDFC Asset Management HDFA.NS, UTI Asset Management UTIA.NS and Nippon Life India Asset Management NIPF.NS surge between 5%-14%

** Markets regulator SEBI on Wednesday deferred a proposal on standard investor fees by mutual funds

** SEBI had in May proposed that mutual fund houses charge standardised fees from investors to ensure greater transparency

** SEBI will come out with another consultation paper to standardise investor fees for mutual funds, its chairperson had said on Wednesday

** "While we still await the shape of final regulations, improved prospects of a less disruptive outcome augurs well for AMC stocks," Kotak Institutional Equities said in a note

(Reporting by Nallur Sethuraman in Bengaluru)

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June 5 (Reuters) - Exchange Filing:

• ADITYA BIRLA SUN LIFE AMC RAISES STAKE IN RATEGAIN TRAVEL TECHNOLOGIES TO 5.1917% FROM 1.9845% - EXCHANGE FILING

Source text for Eikon: ID:nBSEFkQVM

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April 27 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• DIVIDEND 5.25 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 1.36 BILLION RUPEES VERSUS 1.59 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.97 BILLION RUPEES VERSUS 3.24 BILLION RUPEES

Source text for Eikon: ID:nBSE97J8CL

Further company coverage: ADIE.NS

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By Dharamraj Dhutia

MUMBAI, April 25 (Reuters) - The shorter end of the Indian government bond yield curve looks attractive right now as the central bank is unlikely to cut interest rates this financial year as inflation risks prevail, a fund manager at Aditya Birla Sun Life Asset Management Co said.

"We believe the front end of the yield curve, in the 1-3 year range, offers the best risk-adjusted returns to investors," said Mahesh Patil, chief investment officer at ABSL AMC, which manages 1.42 trillion rupees ($17.34 billion) of debt.

The 1-3 year yields were trading around 6.90% on the day. And while the benchmark 10-year bond yield IN072633G=CC was at 7.10%, Patil does not expect it to sustain below 7.15%.

India's headline retail inflation eased to 5.66%, within the Reserve Bank of India's (RBI) tolerance band of 2%-6%, in March and is expected to dip below 5% in April.

Patil, however, said the recent easing in inflation was mainly due to a base effect.

"Core inflation remains sticky and close to the 6% level. There is an upside risk to food inflation given weather conditions and the risk of El Nino."

Nonetheless, the RBI unexpectedly maintained the status quo on interest rates earlier this month, defying market expectations of a 25 basis points hike. However, policymakers said further hikes could be warranted to bring inflation to its medium-term target of 4%.

But Patil expects the RBI to stay on a prolonged pause as rates are close to the long-term average, although he says the Federal Reserve may continue with its rate-hiking cycle.

Patil further said that a higher supply of domestic debt and tighter liquidity conditions may warrant open market purchases from the RBI in the later part of the financial year.

"So we believe that while supply is high, it will continue to get demand. The question is of whether sufficient demand is there at current rates or somewhat higher rates."

($1 = 81.9050 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

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April 20 (Reuters) - Aditya Birla Sun Life Amc Ltd ADIE.NS:

• KUMAR MANGALAM BIRLA RESIGNS AS CHAIRMAN

Source text for Eikon: ID:nBSE2rZRxv

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