Nippon India Mutual Fund (NIMF) Ltd. Company Profile : Products,Promoters and Clients
Nippon India Mutual Fund (NIMF)
This is a leading mutual fund in India, managing Rs 4,31,308 Crores in Average Assets Under Management (AAUM) as of Jan-Mar 2024. With 243.16 Lakhs folios and a presence in 263 locations across the country, NIMF offers a diverse portfolio of products to meet investor needs. Established under the Indian Trusts Act, 1882, NIMF is sponsored by Nippon Life Insurance Company (NLI) and managed by Nippon Life India Trustee Ltd (NLITL). Registered with SEBI since June 30, 1995, NIMF was formerly known as Reliance Mutual Fund before its name change on September 28, 2019.
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Q1. What are the Product and service offerings of Nippon India Mutual Fund ?
The services offered by Nippon India Mutual Fund encompass a diverse range of investment avenues:
A) Mutual Funds & ETFs: NIMF provides a comprehensive portfolio of products including Equity, Debt, Liquid, and ETFs, catering to various investor needs. Equity constitutes 47% of Mutual Fund AUM, while ETFs account for 23%.
B) Portfolio Management Services (PMS): The company offers PMS to high-net-worth individuals and institutional investors, managing prestigious government mandates such as Postal Life Insurance and Employee State Insurance Corporation.
C) Alternative Investment Fund (AIF): Through its subsidiary, Nippon Life India AIF Management Limited (NIAIF), NIMF manages 15 schemes of AIFs across Category II & Category III. These schemes offer various strategies including Listed Equity, High Yield Real Estate Debt, Credit, and Tech / VC FoF.
D) Offshore Funds and Advisory Mandates: NIMF manages offshore funds and distribution through its subsidiaries in Singapore and Mauritius, with a representative office in Dubai. These entities cater to institutional and high net worth investors across Asia, Australia, the Middle East, UK, US, and Europe.
E) Pension Funds: NIMF, through its 49% interest in Reliance Capital Pension Fund Limited, acts as a registered Pension Fund Manager under the Pension Fund Regulatory and Development Authority (PFRDA). It manages pension assets under the New Pension System (NPS).
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Q2. Who are the Promoters/Management of Nippon India Mutual Fund ?
Mr. Sundeep Sikka, the CEO of NAM India, brings over 28 years of asset management experience, emphasizing stakeholder-aligned processes and risk management. Sikka has a Commerce Graduate degree and an MBA from Pune University, along with an Advanced Management Program from Harvard Business School. Since 2003, he has led NAM India through rapid growth, including buying Goldman Sachs' India business in 2016 and gaining majority ownership from Nippon Life Insurance in 2019. He actively engages in industry leadership roles, notably at AMFI and various regulatory bodies, demonstrating his extensive industry influence and expertise.
Sailesh Raj Bhan serves as the CIO of Equity Investments at Nippon India Mutual Fund, bringing over 27 years of experience in Indian Equity Markets, with 19 years dedicated to Nippon Life India Asset Management Limited. Over the past 15 years, he has effectively managed several flagship funds, including Nippon India Large Cap Fund, Nippon India Multi Cap Fund, and Nippon India Pharma Fund.
Q3. Who are the Clients of the Nippon India Mutual Fund?
The clients of the company include:
- Employees: 1,00
- Folios: 24.3 million
- Distributors: Over 101,400
- Unique Investors: 16.5 million
- Systematic Flows (Quarterly): INR 70 billion
- Individual AUM: INR 2,578 billion
- Mutual Funds AUM: INR 4,313 billion
- Managed Accounts AUM: INR 791 billion
- International (Advisory) AUM: INR 134 billion
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