Asset Management Companies Update – Positive Trends To Support Earnings: ICICI Securities

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Asset management plays will benefit from the improving equity mix for the second successive quarter in Q1 FY22.

However, the overall average assets under management growth remains in low single digits QoQ.

Hence, sequential earnings growth will depend more on cost and yields performance.

Increase in equity mix has not always translated to higher yields. Yields will also be a critical element for Computer Age Management Services Ltd. earnings.

Yields were largely stable in FY21 for CAMS, but may decline in FY22 in lieu of AUM growth.

At an aggregate level, flows, systematic investment plan and new fund offer data remain positive.

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ICICI Securities AMC Update.pdf


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