HDFC Asset Management Company Limited Q4 FY19-20 1
Industry - AUM and Net Sales Closing AUM Quarterly Average AUM (QAAUM) 40% 39% 43% 37% 40% 41% 26.8 27.0 26.5 24.5 2.7 23.8 2.5 2.7 22.3 1.7 1.9 5.3 2.1 5.4 4.6 5.9 4.4 4.1 QAAUM ( ₹ trn) 8.4 8.7 8.3 AUM ( ₹ trn) 7.3 7.1 7.8 10.9 10.6 10.4 10.2 9.7 8.3 Mar-19 Dec-19 Mar-20 Mar-19 Dec-19 Mar-20 Mar-19 to Mar-20 YoY: Mar-19 to Mar-20 YoY: Equity as a % of Total Equity as a % of Total Overall: 10%; Equity: 7% Overall: -6%; Equity: -19% Equity Debt Liquid Others Yearly net sales Quarterly net sales 1,187 761 465 670 447 640 Net Sales ( ₹ bn) 290 303 393 178 115 109 46 (75) (75) (172) (365) (463) (698) Q4FY19 Q3FY20 Q4FY20 (1,244) FY19 FY20 ____________________ 2 Source: AMFI AUM excluding FOF – domestic; equity includes equity-oriented hybrid funds; ‘Other’ includes Gold ETFs, other ETFs and FOF – investing overseas. From Apr 2018, Arbitrage is included in 'Other' category. Money market is classified as Debt
Individual / Institutional MAAUM, SIP Flows, B30 MAAUM by Investor category (1)(2)(3) SIP Flows (1) MAAUM of B-30 (1)(2) 82.1 89.3 26.2 29.8 31.2 16% 86.6 10.1 13.5 21.1 15% 16% (MAAUM in ₹ tn) (SIP contribution in ₹ bn) 23.0 (MAAUM ₹ trn) 86 85 20.9 20.8 81 71 12.7 11.0 (47%) 11.8 (45%) (48%) 43 31 13.5 14.5 12.9 4.3 3.8 3.8 (55%) (53%) (52%) Mar-19 Dec-19 Mar-20 Apr-16 Mar-17 Mar-18 Mar-19 Dec-19 Mar-20 Mar-19 Dec-19 Mar-20 T-30 B-30 Individual Investors Institutional Investors No. of SIP Accounts (mm) Share of B-30 MAAUM Individual Folios (mm) ____________________ (1) Source: AMFI, (2) Based on monthly average AUM (3) Percentages in brackets denote % share of total 3
HDFC AMC at a glance Quarterly Average AUM Closing AUM ₹ 2,105 bn ₹ 1,969 bn Assets Under Assets Under Equity-Oriented Equity-Oriented US$ 28 bn US$ 26 bn Management (1) Management (1) 57% 62% 43% 38% ₹ 3,698 bn ₹ 3,191 bn Non-Equity Non-Equity US$ 49 bn ₹ 1,593 bn Oriented ₹ 1,222 bn US$ 42 bn Oriented US$ 21 bn US$ 16 bn 9.4 mm ₹ 85 bn Live Accounts (1) PMS & SMA AUM (1) (3) 221 Branches (1)(2) ; 1,194 E mployees (1) 70k+ Empaneled ₹ 1,935 bn Distribution Partners Individual MAAUM (1) ____________________ (1) As of Mar 31, 2020 / for Mar 2020 ; (2) Includes one representative office in Dubai; (3) Includes advisory mandates 4 (2) Source: Internal. USD/INR conversion rate: ₹ 75.6275
Total AUM and Market Share Closing AUM Quarterly Average AUM ₹ billion ₹ billion YoY -7% YoY 8% 3,689 3,439 3,825 3,698 3,191 3,423 Mar-19 Dec-19 Mar-20 Mar-19 Dec-19 Mar-20 Market Share - Quarterly Average AUM Market Share – Closing AUM Mar-2019 Dec-2019 Mar-2020 Mar-2019 Dec-2019 Mar-2020 HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, 13.7% 14.0% 14.3% 14.5% 13.9% 14.3% Source: Internal, AMFI 5
Actively Managed Equity-oriented AUM and Market Share Quarterly Average AUM Closing AUM ₹ billion ₹ billion YoY 2 % YoY -27 % 1,694 1,666 1,643 1,574 1,539 1,200 Mar-19 Dec-19 Mar-20 Mar-19 Dec-19 Mar-20 Market Share – Closing AUM Market Share - Quarterly Average AUM Mar-2019 Dec-2019 Mar-2020 Mar-2019 Dec-2019 Mar-2020 HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, 14.7% 15.9% 15.8% 15.2% 16.2% 15.6% Source: AMFI, Internal 6 Actively managed equity-oriented AUM excludes index and arbitrage funds from equity-oriented funds
AUM by Segment – HDFC AMC and Industry Quarterly Average AUM Closing AUM HDFC MF HDFC MF Industry Industry Mar-2020 Others Mar-2020 Mar-2020 Others Mar-2020 Others Others 2.1% 1.7% 9.8% 9.4% Liquid Equity Liquid Equity Equity 24.1% Liquid 37.1% Equity Liquid 27.2% 38.3% 38.5% 18.6% 19.5% 43.1% Debt Debt Debt Debt 30.7% 34.9% 32.2% 32.8% Dec-2019 Others Dec-2019 Dec-2019 Others Dec-2019 Others Others 1.8% 2.1% 9.3% 10.2% Liquid Liquid Equity Equity 21.5% 25.9% Liquid Liquid Equity 41.1% Equity 39.6% 17.2% 20.3% 44.0% 46.4% Debt Debt Debt Debt 28.3% 31.5% 30.1% 30.9% Mar-2019 Others Mar-2019 Others Mar-2019 Others Mar-2019 Others 1.2% 7.1% 1.2% 8.1% Liquid Liquid 20.1% Liquid 24.7% Liquid Equity Equity Equity 18.3% 24.2% 42.9% 39.8% Equity 45.2% 48.1% Debt Debt Debt 30.6% Debt 28.8% 30.7% 29.0% ____________________ 7 Source: Internal, AMFI
Individual Investors – no of Accounts & MAAUM Number of Live Individual Accounts (in millions) Individual MAAUM % of Total YoY -11% YoY 3% 2,274 1,935 2,167 63.0% 9.36 9.34 59.5% 9.03 57.2% 52.2% Mar-19 Dec-19 Mar-20 Mar-19 Dec-19 Mar-20 Industry (2) Mar-20 Individual MAAUM (Rs bn) (1) Individual customer prefer equity-oriented schemes and stay invested for longer periods Source: Internal, AMFI 8
Most Preferred Choice of Individual Investors Individual Assets Market Share (Mar-20) Individual Assets Market Share (Dec-19) Individual Assets Market Share (Mar-19) 15.0% 15.5% 15.4% 13.4% 13.7% 13.6% 11.7% 10.7% 9.7% 9.3% 8.3% 9.2% 8.5% 7.0% 7.6% HDFC ICICI Pru SBI ABSL MF Nippon HDFC ICICI Pru SBI ABSL MF Nippon HDFC ICICI Pru SBI Nippon ABSL MF MF MF MF MF MF MF MF MF MF MF MF MF Source: AMFI , based on monthly average AUM 9
Unique Investors Unique Investors- HDFC AMC vs MF Industry 27% 28% 27% 25.0 (Unique Investors in million) 20.8 20.3 19.3 20.0 15.0 10.0 5.5 5.6 5.3 5.0 0.0 Mar-19 Dec-19 Mar-20 HDFC Mutual Fund Mutual Fund Industry HDFC MF share in Mutual Fund Industry Source: CAMS. Note: Unique Investors as identified by PANs/PEKRNs of all unit holders & Guardians 10
Systematic Transactions Quality Long-term Inflows Through Systematic Transactions Long Tenure SIP Book (1) Systematic Transactions ( ₹ bn) 3.29 81.0% 12.2 11.8 69.0% 11.5 11.3 6.8 Over 5 Years Over 10 Years 4.9 4.7 1.23 3.1 Strong and stable “Order Book” to provide predictable flows Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Dec-19 Mar-20 #mm systematic transactions ____________________ Source: Internal (1) Based on tenure at the time of registration of all live SIPs during Mar-20 11
Multi-channel Distribution Network Well Diversified Distribution Channel Equity-oriented AUM (Mar-20) Total AUM (Mar-20) HDFC Bank 5.6% HDFC Bank 9.9% Banks, 10.7% Direct Banks, 15.7% 19.2% Direct 47.8% IFAs 23.4% National Distributors IFAs National Distributors 24.8% 40.3% 18.1% HDFC Bank 10.7% Mar-2019 Dec-2019 HDFC Bank 10.0% Mar-2019 Dec-2019 HDFC Bank 8.6% HDFC Bank 6.5% Direct, Direct, 18.7% 17.2% Banks, 16.0% Banks, 14.2% Banks, 16.9% Banks, 12.2% Direct Direct, 41.7% 38.3% IFAs, 27.5% IFAs 26.4% National National Distributors, Distributors, 24.8% 24.8% IFAs, 41.1% IFAs, 40.5% National Distributors National Distributors, 19.8% 20.0% Source: Based on internal classification. Equity-oriented AUM excludes Arbitrage schemes 12
Geographic Spread Total MAAUM by T30 and B30 cities (1) #2 Player in B-30 Markets (1) B 30, SBI MF, 13.6% 20.7% Others, 38.4% HDFC MF, 11.9% ICICI Pru MF , 11.2% ABSL, UTI MF, 9.0% T 30, 8.7% 86.4% Network of 221 branches with 145 in B-30 cities (2) c. 70k+ empaneled distribution partners ____________________ (1) Source: Internal, AMFI (2) As of Mar 31, 2020. Includes one representative office in Dubai; 13
Strong Digital Presence Supported by Integrated Online Platform Electronic and Physical Transaction as % of Total Transactions 30.7% 32.8% 69.9% Digitization Across Functions 69.3% 67.2% 30.1% FY15 FY19 FY20 Electronic Physical Strong online presence - dedicated separate digital platforms distribution partners and customers FY15 to FY20 CAGR of 36% in electronic transactions, and CAGR of 15% in total transactions 14% of all transaction during FY20 were through HDFC MF Online and mobile application Source: Internal 14
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