Aditya Birla Sun Life AMC Ltd Company Summary

Aditya Birla Sun Life AMC Ltd Summary

Aditya Birla Sun Life AMC Limited (ABSLAMC) was originally incorporated as Birla Capital International AMC Limited at Mumbai as Public Company on 05 September 1994 and commenced operations with Certificate for Commencement of Business dated 10 November 1994. Further, name of the Company changed from Birla Capital International AMC Limited to Birla Sun Life Asset Management Company Limited pursuant to a revised Certificate of Incorporation issued by RoC dated 29 June 1999. Subsequently, name of the Company changed from Birla Sun Life Asset Management Company Limited to Aditya Birla Sun Life AMC Limited on 17 July 2017. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the Promoters and Major Shareholders of the Company.The Company is a Joint Venture between the Aditya Birla Group and Sun Life Group. The Share Capital of the Company is owned by Aditya Birla Capital Limited (Subsidiary of Grasim Industries Limited) - and Sun Life (India) AMC Investments Inc., (wholly owned subsidiary of Sun Life Financial, Inc.). The principal activity is to act as an Investment Manager to Aditya Birla Sun Life Mutual Fund. It manages investment portfolios of Aditya Birla Sun Life Mutual Fund and Aditya Birla Real Estate Fund. It provides Portfolio Management Services (PMS) and Investment Advisory Services to Offshore Funds and High Net Worth Investors. It has set-up two Alternate Investment Fund (AIF) one under Category III & other under Category II with Securities Exchange Board of India (SEBI). Aditya Birla Sun Life AMC Limited has been appointed as an Investment Manager of the said AIF by the Trustee to the Fund.The Company ranked as the largest non-bank affiliated AMC and fourth largest AMC in India managing Assets under management of Rs. 3,07,409 Crore under its suite of Mutual Fund, Portfolio Management Services, Alternate Investment Funds, Offshore and Real estate offerings. It has geographically diversified Pan-India distribution presence of over 280 location and subsidiaries in Singapore, Dubai, and Mauritius.As on 31 March 2019, the company has 7 overseas subsidiary companies under its roof.The Company stood as the 4th largest Asset Management Company in the Mutual Fund industry with Annual AAUM for the year ended March 31, 2020 of Rs 2,51,310 crore of AAUM and a market share of 9.58%. The Domestic Equity Annual AAUM reached Rs 90,234 crore representing a market share of 8.22% and 5 year CAGR growth of 35% which is also the 2nd highest amongst top 5 AMCs. The retail AAUM for March-2020 stood at Rs 1,06,496 crore with a market share of 8.25%, and a 5 Year CAGR of 18% which is 2nd highest among top 5 AMCs. Four new funds, Aditya Birla Sun Life Pharma & Healthcare Fund, Aditya Birla Sun Life PSU Equity Fund, Aditya Birla Sun Life Banking ETF and Aditya Birla Sun Life Fixed Term Plans garnered AUM of Rs 133 Crore, Rs 213 Crore, Rs 83 Crore and Rs 71 Crore respectively during their New Fund Offer (NFO) period.The companys presence across 310 Locations with greater than 75% locations in B-30 Cities.As on 31 March 2021, the company has 6 overseas subsidiaries.During the financial year 2021-22, New Horizon Fund SPC ceased to be the step-down subsidiary of the Company with effect from 30th September 2021. On the Real Estate front, the Company collaborated with Bentall Green Oak, an arm of SunLife International, to jointly source and underwrite deals for Real Estate funds. It completed its first close of Aditya Birla Real Estate Credit Opportunities Fund under Category II AIF. It has launched 13 new passive products including the Companys 1st Smart Beta and 1st Debt Index Fund.In FY 2021-22, the Company came out with its IPO and diluted 13.50% of the paid-up equity share capital in favour of the public. Both the Promoters of the Company i.e. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc participated in the IPO by way of an Offer for Sale (OFS) and diluted 0.99% & 12.51% of their holdings, respectively, in favour of the public. The equity shares of the Company were listed on the National Stock Exchange of India Limited and BSE Limited with effect from 11th October 2021.During the financial year 2021-22, Grasim Industries Limited and Aditya Birla Capital Limited, which continued to be Holding Company were as a result listed at National Stock Exchange of India Limited and BSE Limited. The Company set up a branch office at the Gujarat International Finance Tec-City (GIFT City) in January, 2022. As of 31st March, 2022, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,706 billion.As of 31st March, 2023, Aditya Birla Capital Limited manages aggregate assets under management of approximately Rs 3,600 billion.During the year 2023, the Company launched and raised a commitment of Rs 734 Crore in India Equity Services Fund (CAT III AIF) andreceived a SEBI clearance for three more funds, namely ABSL India Special Opportunities Fund, ABSL India Equity Innovation Fund, ABSL Structured Opportunities Fund. On the real estate front, it completed the first close of the Aditya Birla Real Estate Credit Opportunities Fund (Category II AIF) and started deploying the first investment.Overall Mutual Fund Quarterly Average Assets Under Management (QAAUM) in Q4 FY23 was Rs 275,204 Crore with a market share (excluding ETF) of 7.7%. Overall Mutual Fund Closing Assets Under Management was Rs 262,292 Crore. Mutual Fund Equity QAAUM in Q4 FY23 was Rs 115,827 Crore with market share of 5.6%. Equity Closing Assets Under Management was Rs 111,135 Crore. Mutual Fund Fixed Income QAAUM of the Company in Q4 FY23 was Rs 159,377 Crore with market share of 10.6%.