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HDFC AMC: Online transactions up from 41% to 51% in one year

HDFC AMC, the mutual fund company of the HDFC group, increasingly depends on its online channel for increased business. Milind Barve, the company’s MD & CEO, tells Banking Frontiers that transactions on its integrated online platform are up from 41% in FY2017 to 51% of total transactions in FY2018. Says Barve: “We have higher proportion of individual AUM (62%) vis-a-vis industry average of 51%. As much as 77% of our book has transaction tenure of 5+ years. FY15-18 CAGR for electronic transactions is of 46.2% and 14.4% transactions are through HDFC MFOnline and mobile applications.”

The company has 133 schemes that were classified into 27 equity-oriented schemes, 98 debt schemes (including 72 fixed maturity plans (FMPs), 3 liquid schemes, and 5 other schemes (including exchange-traded schemes and funds of fund schemes). At Rs1.71 trillion, the company’s IPO was oversubscribed by 83 times. It received 2.5 million applications, the highest for any IPO recently.

Barve says the company has recorded an increase in live accounts from 4.9 million in March 2013 to 8.1 million in March 2018 at a CAGR of 11%. “We have Rs1863 billion individual AUM and Rs7.22 billion net income in financial year 2017-18). As of March 2018, the AUM stood at Rs2.92 trillion and this comprised Rs1.49 trillion equity-oriented AUM and Rs1.42 trillion of non-equity-oriented AUM,” he says, adding the profits have grown every year since 2002.

– Manoj Agrawal, Group Editor, [email protected]

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