Nippon Life - Strong Retail Presence; Expanding Distribution Reach: Nirmal Bang

Nirmal Bang Report

We hosted the management of Nippon Life Asset Management Ltd. as part of our Investor Conference. Key takeaways from the meeting are:

• The company highlighted that it has the largest investor base in the AMC industry with 37% share of unique investors and a retail share of 30% (higher than industry average of 27%).

• While equity yields are expected to remain under pressure, the company is focusing on Offshore/AIF business to drive volume. A steady uptick in SIP flows and market share revival in high-yielding segments is likely to aid earnings.

• As a non-banca backed AMC, Nippon Life AMC continues to invest in technology/ infrastructure; focus is on B-30 locations and digital customer acquisition to help strengthen distribution reach.

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