HDFC Asset Management Company Limited Q1 FY20-21 1
Industry - AUM and Net Sales Closing AUM Quarterly Average AUM (QAAUM) 40% 37% 43% 38% 39% 37% 27.0 25.5 25.5 24.6 24.3 2.7 2.6 22.3 2.0 2.4 2.1 5.3 2.1 5.4 4.9 4.1 5.5 4.1 QAAUM ( ₹ trn) 8.7 7.6 7.8 AUM ( ₹ trn) 8.1 7.8 7.8 10.4 10.5 10.3 9.8 9.0 8.3 Jun-19 Mar-20 Jun-20 Jun-19 Mar-20 Jun-20 Jun-19 to Jun-20 YoY: Jun-19 to Jun-20 YoY: Equity as a % of Total Equity as a % of Total Overall: -3%; Equity: -12% Overall: 5%; Equity: -7% Equity Debt Liquid Others Yearly net sales Quarterly net sales 1,187 761 670 640 743 Net Sales ( ₹ bn) 393 290 283 153 128 96 63 43 (75) (75) (91) (365) (463) (698) Q1FY20 Q4FY20 Q1FY21 (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) 83.4 91.1 27.4 31.2 16% 89.3 13.5 21.1 26.2 32.3 15% 15% 10.1 (MAAUM in ₹ tn) (SIP contribution in ₹ bn) (MAAUM ₹ trn) 86 22.1 21.8 81 20.9 81 79 71 11.8 12.9 (46%) 11.8 (49%) (48%) 43 31 14.0 13.2 12.9 (54%) 4.0 4.0 3.8 (52%) (51%) Jun-19 Mar-20 Jun-20 Apr-16 Mar-17 Mar-18 Mar-19 Jun-19 Mar-20 Jun-20 Jun-19 Mar-20 Jun-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 ₹ 2,243 bn ₹ 2,167 bn Assets Under Assets Under Equity-Oriented Equity-Oriented US$ 30 bn US$ 29 bn Management (1) Management (1) 63% 61% 37% 39% ₹ 3,562 bn ₹ 3,575 bn Non-Equity Non-Equity US$ 47 bn ₹ 1,319 bn Oriented ₹ 1,408 bn US$ 47 bn Oriented US$ 17 bn US$ 18 bn 9.4 mm ₹ 94 bn Live Accounts (1) PMS & SMA AUM (1) (3) 221 Branches (1)(2) ; 1,192 E mployees (1) 65k+ Empaneled ₹ 1,924 bn Distribution Partners Individual MAAUM (1) ____________________ (1) As of June 30, 2020 / for June 2020 ; (2) Includes one representative office in Dubai; (3) Includes advisory mandates 4 (2) Source: Internal. USD/INR conversion rate: ₹ 75.5075
Total AUM and Market Share Closing AUM Quarterly Average AUM ₹ billion ₹ billion YoY 0% YoY -2% 3,698 3,624 3,562 3,564 3,575 3,191 Jun-19 Mar-20 Jun-20 Jun-19 Mar-20 Jun-20 Market Share - Quarterly Average AUM Market Share – Closing AUM Jun-2019 Mar-2020 Jun-2020 Jun-2019 Mar-2020 Jun-2020 HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, 13.7% 14.2% 14.5% 14.7% 14.3% 14.0% Source: Internal, AMFI 5
Actively Managed Equity-oriented AUM and Market Share Quarterly Average AUM Closing AUM ₹ billion ₹ billion YoY -21% YoY -18% 1,689 1,645 1,574 1,378 1,293 1,200 Jun-19 Mar-20 Jun-20 Jun-19 Mar-20 Jun-20 Market Share – Closing AUM Market Share - Quarterly Average AUM Jun-2019 Mar-2020 Jun-2020 Jun-2019 Mar-2020 Jun-2020 HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, HDFC MF, 14.5% 14.7% 14.3% 16.1% 15.2% 16.2% 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 Jun-2020 Others Jun-2020 Jun-2020 Others Jun-2020 Others Others 1.9% 2.2% 9.6% 10.3% Equity Equity Equity Equity Liquid Liquid 38.3% 36.6% 37.0% Liquid Liquid 39.4% 28.9% 33.3% 19.4% 22.3% Debt Debt Debt Debt 27.8% 32.0% 31.5% 29.5% 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% Liquid Equity 27.2% 38.3% 38.5% 18.6% 19.5% 43.1% Debt Debt Debt Debt 30.7% 34.9% 32.2% 32.8% Jun-2019 Others Jun-2019 Others Jun-2019 Others Jun-2019 Others 1.2% 7.7% 1.3% 8.5% Liquid Liquid Liquid Liquid 22.3% 24.5% Equity Equity 21.3% 16.8% Equity 43.3% 40.3% Equity 45.7% 47.7% Debt Debt Debt Debt 28.7% 28.5% 31.4% 30.7% ____________________ 7 Source: Internal, AMFI
Individual Investors – no of Accounts & MAAUM Number of Live Individual Accounts (in millions) Individual MAAUM % of Total YoY -12% YoY 2% 1,935 1,924 2,197 9.35 9.34 9.20 58.8% 57.2% 51.7% 50.5% Jun-19 Mar-20 Jun-20 Jun-19 Mar-20 Jun-20 Industry (2) Jun-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 (Jun-20) Individual Assets Market Share (Mar-20) Individual Assets Market Share (Jun-19) 15.0% 14.6% 13.5% 15.7% 13.4% 13.6% 12.0% 11.7% 9.9% 8.3% 8.9% 7.8% 8.6% 7.0% 6.9% HDFC ICICI Pru SBI ABSL MF Nippon HDFC ICICI Pru SBI ABSL MF Nippon HDFC ICICI Pru SBI ABSL Nippon 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% 26% 25.0 (Unique Investors in million) 21.1 20.8 19.6 20.0 15.0 10.0 5.6 5.6 5.4 5.0 0.0 Jun-19 Mar-20 Jun-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) 82% 12.7 11.8 70% 11.5 11.3 3.11 9.6 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 Jun-19 Mar-20 Jun-20 #mm systematic transactions ____________________ Source: Internal (1) Based on tenure at the time of registration of all live SIPs during Jun-20 11
Multi-channel Distribution Network Well diversified distribution channels Equity-oriented AUM (Jun-20) Total AUM (Jun-20) HDFC Bank 5.2% HDFC Bank 9.6% Banks, 9.9% Direct Banks, 15.3% 19.3% Direct 49.0% IFAs 23.4% IFAs National Distributors 40.7% 24.8% National Distributors 17.8% Jun-2019 Mar-2020 HDFC Bank 10.5% Jun-2019 HDFC Bank 9.9% Mar-2020 HDFC Bank 7.7% HDFC Bank 5.6% Direct, Direct, 17.7% Banks, 15.7% Banks, 13.3% 19.2% Banks, 10.7% Banks, 16.6% Direct, Direct 39.2% 47.8% IFAs IFAs, 27.5% IFAs, 40.3% 23.4% IFAs, 40.9% National National Distributors, Distributors, 24.8% National Distributors, National Distributors 24.8% 20.0% 18.1% 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, 12.6% SBI MF, 21.0% Others, 38.8% HDFC MF, 11.7% ICICI Pru MF , 11.4% UTI MF, ABSL, 8.6% T 30, 8.5% 87.4% Network of 221 branches with 145 in B-30 cities (2) c. 65 k+ empaneled distribution partners ____________________ (1) Source: AMFI (2) As of June 30, 2020. Includes one representative office in Dubai; 13
Strong Digital Presence Supported by Integrated Online Platform Electronic and Physical Transaction as % of Total Transactions 8.6% 30.7% 32.8% 69.9% Digitization Across 91.4% Functions 69.3% 67.2% 30.1% FY15 FY19 FY20 Q1FY21 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
Digital Initiatives - Enhanced $ hdfcfund.com WhatsApp for Investors Investors & Partners: Quick links for easy Videos to help investors and for ease in communication online transactions, website landing page partners in their Digital journey assisting with digital transactions etc. Facility for internal employees to create Digital Marketing Education Series Video KYC (E-KYC) ensuring transactions on behalf of partners IFA Webinars & personalized websites convenience and efficiency 120+ programmes 24 YouTube Videos 10,000 + Partner Coverage 90,000 + total participants organized 3,000 + views 15
Financials
Financials Summary – Quarterly Earnings ( ₹ mm) Particulars Q1 FY21 Q1 FY20 Change Income Revenue from Operations 4,115 5,044 -18% 798 484 65% Other Income Total Income 4,913 5,528 -11% Expenses Finance Costs 22 23 -4% Fees and Commission Expenses 14 114 -88% Employee Benefit Expenses 526 567 -7% Depreciation and Amortization Expenses 137 119 15% Other Expenses 410 406 1% Total Expenses 1,109 1,229 -10% Profit before tax 3,804 4,299 -12% Tax Expenses 780 1,382 -44% Profit after tax 3,024 2,917 4% 17
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