On Wednesday, Aditya Birla Sun Life AMC had declined 1.75% after the net profit was down 33.6% to Rs 102.84% decline in total income to Rs 273.70 crore in the first quarter of this financial year (FY23).

Aditya Birla Sun Life AMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund. Interest rate and equity market volatility led to Mark-to-Market (MTM) impact on other income, which resulted in a 31.6% YoY decline in profit before tax to Rs 140.80 crore in Q1FY23. Operating revenue for Q1FY23 was Rs 304.5 crore compared with Rs 303.2 crore in Q1FY22. Operating profit before tax for Q1FY23 stood at Rs 171.6 crore against Rs 172.8 crore in Q1FY22.

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As on 30 June 2022, the AMC was the largest non-bank affiliated AMC with quarterly average assets under management (QAAUM) of Rs 2,81,500 crore. Total QAAUM including alternate assets stood at Rs 2,92,600 crore for the quarter ending 30 June 2022.

Equity mutual fund QAAUM increased by 14% YoY to Rs 1,16,800 crore in Q1FY23. Equity MF mix is 41.5% for Q1FY23. Individual monthly average assets under management (MAAUM) stood Rs 1,31,500 crore for June 2022. The individual mix is 48.2% of the total AUM.

Aditya Birla Sun Life AMC (ABSLAMC) is a joint venture between Aditya Birla Capital and Sun Life (India) and AMC Investments Inc. Apart from being the investment manager of Aditya Birla Sun Life Mutual Fund, it also operates multiple alternate strategies including portfolio management services, real estate investments and alternative investment funds.