Nippon Life AMC is narrowing its valuation gap with HDFC AMC
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Nippon Life India Asset Management Co. Ltd’s (NAM) valuations have always lagged behind sector leader HDFC Asset Management Co. Ltd. But the gap has narrowed considerably in recent months. NAM has outpaced its larger rival with 25% gains in 2021. In comparison, the HDFC AMC stock has returned a meagre 3%.
NAM may just be able to hold that lead this year. Analysts attribute the improved show largely to the better performance of some of its funds. This could even help market share gains in Q4 and build on NAM’s quarterly average 11.6% year-on-year growth in assets under management (AUM). The industry leader, meanwhile, has seen market share losses, especially on the equities side, which also helped NAM shares outperform.
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HDFC AMC’s outgoing MD Milind Barve on leadership and how Deepak Parekh inspired him
Barve says he has tried to make the culture at HDFC AMC as close as possible to that of HDFC’s
Milind Barve, MD, HDFC AMC
Milind Barve, 63, will retire from HDFC AMC on February 15, 2021. Barve has spent 20 years as the founding managing director at one of India’s the largest mutual fund houses. In a chat with Jash Kriplani and Kayezad Adajania, Milind Barve traces his journey with HDFC AMC and HDFC Ltd.
Playing the boss
Many people talk arrogantly and are seen as effective bosses. That is not my definition of an effective boss. You have to be aggressive in your thought process, you have to be aggressive in your strategies and how you drive people to achieve them.
Milind Barve is the longest-serving chief in the Rs 30 trillion Indian mutual fund (MF) industry. He will retire as the managing director of HDFC Asset Management Company (AMC) later this week.