{"id":154892,"date":"2023-10-13T12:47:26","date_gmt":"2023-10-13T16:47:26","guid":{"rendered":"https:\/\/44.250.171.167\/?p=154892"},"modified":"2023-10-13T12:47:28","modified_gmt":"2023-10-13T16:47:28","slug":"hdfc-asset-management-company-ltd-q2-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/hdfc-asset-management-company-ltd-q2-fy24-earnings-conference-call-insights\/","title":{"rendered":"HDFC Asset Management Company Ltd Q2 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from HDFC Asset Management Company Ltd (HDFCAMC) Q2 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Industry Growth Trends<\/strong>\n<ul>\n<li>Quarterly average AUM reached INR47 trillion, up 20% year-over-year.<\/li>\n<li>Actively managed equity funds near 50% of total AUM at INR23.1 trillion, up 26%.<\/li>\n<li>Debt funds QAAUM surged to INR10.3 trillion.<\/li>\n<li>B30 category AUM steady at 17% of total and 27% of equity AUM.<\/li>\n<li>SIP flows totaled INR471 billion, 27% of gross equity flows.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>Quarterly average AUM crossed INR5 trillion, up 22% year-over-year.<\/li>\n<li>Market share at 11.2% overall and 12.5% excluding ETFs.<\/li>\n<li style=\"text-align: left;\">Actively managed equity AUM up 40% year-over-year, outpacing industry growth of 28%.<\/li>\n<li>Individual investors account for 68% of AUM, higher than industry at 58%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Key Business Updates<\/strong>\n<ul>\n<li>Unique investors reached 7.9 million, 1 in 5 industrywide.<\/li>\n<li>Processed 5.86 million systematic transactions in September, up 50% year-over-year.<\/li>\n<li>Launched new sectoral\/thematic funds in consumer, healthcare, technology.<\/li>\n<li>Wholly-owned Gift City subsidiary secured approvals, to launch funds soon.<\/li>\n<li>Revenue grew 18% year-over-year, operating profit up 20%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>SIP Flow Growth<\/strong>\n<ul>\n<li>SIP flows for industry grew 36% YoY to INR 16,000 crore, while for HDFC AMC SIP flows grew 56% YoY.<\/li>\n<li>Growth driven by performance improvement, distribution expansion, marketing, digital initiatives.<\/li>\n<li>SIP flows make up large share of flows for HDFC AMC and industry.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Expense Ratios and Yields<\/strong>\n<ul>\n<li>HDFC AMC equity yield is 67 bps including index funds.<\/li>\n<li>Flow yields lower than book yields due to industry dynamics.<\/li>\n<li>Pace of yield dilution has slowed due to rationalization of distribution costs.<\/li>\n<li>Recent NFOs launched at higher margins vs historical.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Operating Expenses<\/strong>\n<ul>\n<li>Employee expenses grew 11% YoY, 8% CAGR over pre-COVID levels.<\/li>\n<li>Other expenses grew 22% YoY but only increased ~INR 12 crores in absolute terms.<\/li>\n<li>Increase in expenses driven by higher travel, NFO-related costs, marketing<\/li>\n<\/ul>\n<\/li>\n<li><strong>Market Share Gains<\/strong>\n<ul>\n<li>HDFC AMC has gained market share across channels and products over the past few months.<\/li>\n<li>Seeing material improvement in engagement with HDFC Bank post-merger.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Managing Costs Amid Business Expansion<\/strong>\n<ul>\n<li>Operating expenses as percent of AUM down due to higher AUM growth vs expense growth.<\/li>\n<li>People cost inflation at 10-12% despite investments in distribution capabilities.<\/li>\n<li>Overall costs well managed given scale of operations and offices, employees, AUM serviced.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Utilization of Cash Balances<\/strong>\n<ul>\n<li>Increased dividend payout ratio to 72% in FY23; expect further increases.<\/li>\n<li>Evaluating inorganic growth opportunities.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Approach to Passive Funds<\/strong>\n<ul>\n<li>Do not see active to passive asset shifts like in some global market.<\/li>\n<li>Optimistic about growing select ETFs, though some market share constrained by regulation.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Adding Unique Investors<\/strong>\n<ul>\n<li>HDFC captured 40% of new unique investors added to the mutual fund industry.<\/li>\n<li>Strong performance across categories combined with distribution reach, marketing and digital efforts have helped gain investors.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Focus remains on gaining higher market share across channels through performance, products, distribution and marketing.<\/li>\n<li>Long-term opportunity remains attractive with low penetration of mutual funds in India.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from HDFC Asset Management Company Ltd (HDFCAMC) Q2 FY24 Earnings Concall Industry Growth Trends Quarterly average AUM reached INR47 trillion, up 20% year-over-year. Actively managed equity funds near 50% of total AUM at INR23.1 trillion, up 26%. Debt funds QAAUM surged to INR10.3 trillion. B30 category AUM steady at 17% of total and [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,1],"tags":[10169,1792],"class_list":["post-154892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-finance-stocks","tag-earnings","tag-financial-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":157700,"url":"https:\/\/alphastreet.com\/india\/hdfc-asset-management-company-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":154892,"position":0},"title":"HDFC Asset Management Company Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"January 12, 2024","format":false,"excerpt":"Key highlights from HDFC Asset Management Company Ltd (HDFCAMC) Q3 FY24 Earnings Concall AUM Milestones The mutual fund industry reached INR50 trillion AUM as of December 2023, a 27% YoY growth. Nifty 50 returned over 20% in the last year while actively managed equity funds grew 29%. Equity funds now\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":163078,"url":"https:\/\/alphastreet.com\/india\/hdfc-asset-management-company-ltd-q1-fy25-earnings-conference-call-insights\/","url_meta":{"origin":154892,"position":1},"title":"HDFC Asset Management Company Ltd Q1 FY25 Earnings Conference Call Insights","author":"Praveen","date":"July 16, 2024","format":false,"excerpt":"Key highlights from HDFC Asset Management Company Ltd (HDFCAMC) Q1 FY25 Earnings Concall Industry Growth Mutual fund industry AUM reached INR61 trillion, representing a seven-fold increase over the last 10 years. Industry size grew from INR8 trillion in March 2014. Over INR10 trillion added in the last six months alone.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":177741,"url":"https:\/\/alphastreet.com\/india\/canara-robeco-asset-management-company-ltd-reports-q3-fy26-pat-of-%e2%82%b9528-million-aum-at-%e2%82%b91-2-trillion\/","url_meta":{"origin":154892,"position":2},"title":"Canara Robeco Asset Management Company Ltd reports Q3 FY26 PAT of \u20b9528 million, AUM at \u20b91.2 trillion","author":"Staff Correspondent","date":"January 26, 2026","format":false,"excerpt":"Canara Robeco Asset Management Company Ltd (BSE: 544580 \/ NSE: CRAMC) reported total income of \u20b91,215 million and profit after tax of \u20b9528 million for the quarter ended December 2025, according to its Q3 FY26 investor presentation. 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Q2 FY26\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/AB.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":128661,"url":"https:\/\/alphastreet.com\/india\/hdfc-asset-management-company-ltd-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":154892,"position":4},"title":"HDFC Asset Management Company Ltd Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"April 28, 2022","format":false,"excerpt":"https:\/\/youtu.be\/o6XRzNWGgEk Key highlights from HDFC Asset Management Company Ltd (HDFCAMC) Q4 FY22 Earnings Concall Q&A Highlights: Prayesh Jain from Motilal Oswal asked about the business going ahead with the merger between HDFC Limited and HDFC bank. Navneet Munot MD said the merger will facilitate more efficient cross-selling of banking and\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":171544,"url":"https:\/\/alphastreet.com\/india\/hdfc-amc-q2-fy26-earnings-results\/","url_meta":{"origin":154892,"position":5},"title":"HDFC AMC Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 16, 2025","format":false,"excerpt":"Company Overview Incorporated in 1999, HDFC Asset Management Company (HDFC AMC) is one of India\u2019s leading asset management companies, providing fund management services across a broad range of mutual fund and portfolio management schemes for individual and institutional clients. Presenting below its Q2 FY26 Earnings Results. Q2 FY26 Earnings Results\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"HDFCAMC Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/HDFAMC.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/154892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=154892"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/154892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/154818"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=154892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=154892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=154892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}