Moneycontrol
Get App
Last Updated : Jan 17, 2018 12:50 PM IST | Source: CNBC-TV18

Flows into equities, debt funds to continue; focusing on small towns: Reliance Nippon

Expect the flows into equities and debt funds to continue as other assets are not so attractive, said Sundeep Sikka, ED & CEO, Reliance Nippon Life AMC.

CNBC TV18 @moneycontrolcom

In the first quarterly earnings after the IPO, Reliance Nippon Life AMC (RNAM) posted a good set of numbers driven by strong topline and bottomline growth.

The company reported 25 per cent jump in profit after tax to Rs 130 crore for the December quarter of the current fiscal.

The company's revenues stood at Rs 470 crore in the October-December quarter of the 2017-18 fiscal, a growth of 31 per cent over the year-ago period, RNAM said in a statement.’

Close

Discussing the key features of the numbers and outlook going forward, Sundeep Sikka, ED & CEO, Reliance Nippon Life AMC told CNBC-TV18 that they saw a positive growth in Mutual Funds and alternate investment funds. The company saw a huge inflow of retail funds post demonetistion, he added.

He said, overall assets have growth to Rs 3.8 lakh crore.

The company has been focusing on tier 2 and tier 3 cities, and there is lot of interest from retail investors from these cities and small towns, he said.

Going forward, expect the flows into equities and debt funds to continue as other assets are not so attractive, said Sikka.

In terms of financial assets, India remains still underpenetrated, said Sikka, adding that only 2 percent of population is investing in Mutual Funds.

The more matured investors are expected to move to ETFs, he said.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on Jan 17, 2018 10:54 am
Sections
Follow us on