homeearnings NewsNippon Life India AMC reports healthy Q2 set; says 7 products lined up for passive funds
Nippon Life India AMC reports healthy Q2 set; says 7 products lined up for passive funds
Prateek Jain, chief financial officer (CFO) of Nippon Life India AMC, on Wednesday said that seven products are lined up for passive funds.
Prateek Jain, chief financial officer (CFO) of Nippon Life India AMC, on Wednesday said that seven products are lined up for passive funds (funds that track a specific index).
The asset management company reported earnings for the September-ended quarter with revenues and profits growing at a healthy sequential pace. The average assets under management (AAUM) and market share also saw a positive growth trend.
"We are coming up with a Taiwan Equity Fund and seven other on the exchange-traded fund (ETF) basket; so seven products lined up for passive. Taiwan Equity Fund is a diversification vehicle giving access to Indian investors to the Taiwanese market,” Jain said in an interview to CNBC-TV18.
On market share, he said, “Our total market share is 7.33 percent in the overall category and in terms of passive category, we are about 13 percent.”
However, said Jain, growth has not been best, but a lot of product pipeline and the highway has been created.
"We had some group related issues, but now we are independently Nippon Life companies. We are working closely with the partner network of Nippon Life and in this regard, we will be launching Taiwan Fund in India. We believe a corresponding fund, in a shorter time, will be launched in Taiwan as well which will cater to the Indian markets," he said.
For the entire management interview, watch the video
(Edited by : Abhishek Jha)
First Published: Oct 27, 2021 4:55 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Stampede-like situation disrupts Rahul Gandhi, Akhilesh Yadav's joint rally in Uttar Pradesh
May 19, 2024 4:26 PM
Ladakh Lok Sabha election: With Independent candidate's entry, it's now a 3-way contest for BJP and Congress
May 19, 2024 4:01 PM