Hi,
Yes a tepid 4Q results but i expect this to continue for next 1 year. I assume it will take minimum 2-3 years to breakeven since there are upfront costs in the AMC biz. They have grown manpower to 55 as of April 24 and i assume most of this would be backend/mid support employees. They have started hiring for Fund Managers and Analysts as per CIO. Shriram MD has said they will be ready to scale up once they have enough manpower available.
It’s an AUM business. For that they are bringig distributors, enabling in-house Shriram branches, potential launch of Mid/small cap fund by this fiscal as informed by CIO. In last 6/12 months their funds have outperformed the benchmark and Nifty50 which should aid further AUMs.
They are also serious on the Wealth Management piece (apart from AMC)
Shriram Group in talks with partners for wealth management biz foray
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