Nippon Life India Asset Management

About

Nippon Life Asset Management Ltd. started mutual fund operations in 1995 as the asset manager for Reliance Mutual Fund, part of the Anil Ambani (ADAG) group. The Reliance stake was sold to Japanese Nippon Life. The firm was the first AMC to list on Indian stock exchanges in 2017.

NAM manages assets of … across mutual funds, pension funds, managed accounts, alternative investments and offshore funds, making it one of the top 10 firms in India. It also acts as an advisor for India focused Equity and Fixed Income funds in Japan, Korea and Thailand.

Key details from financial statements for FY 21-22 –

Total Income (INR crores)Total Expense (INR crores)EBIT (INR crores)EBIT MarginNet Profit (INR crores)Total Income (USD millions)Total Expense (USD millions)Net Profit (USD millions)
1,535.63543.14992.4965%743.37204.7572.4299.12

Key staff

Sundeep Sikka is the Executive Director and Chief Executive Officer of Nippon Life India Asset Management Limited (previously Reliance Nippon Life Asset Management Limited) (NAM India). Sundeep has served as both the Vice-Chairman and the Chairman of the industrial organisation AMFI (Association of Mutual Funds in India). Sundeep, who has extensive experience in the financial services industry, went on to lead NAM India to considerable wealth growth and to emerge as one of India’s most trusted mutual fund houses. NAM India has an AUM of INR 2.77 trillion, serves nearly 9 million investors, and has a presence in 290 locations across India, as well as Singapore, Mauritius, and Dubai.

Manish Gunwani, CIO – Equity Investments, Nippon India Mutual Fund – Manish has over 21 years of work experience primarily in equities spanning roles in equity research and fund management. He has also co-founded a technology company in the document management space. During his stint at ICICI Prudential AMC, he managed two flagship funds of the mutual fund whose assets grew from $1bn to $5bn in 5 years. One of the funds grew from $50m to $3bn becoming the second largest fund in the industry. As deputy CIO he was instrumental in various aspects of asset management including setting up research processes, product strategy, developing talent of the team etc.

Amit Tripathi, CIO – Fixed income investments – Amit has more than 20 years of experience in Financial Services. He has been with NIMF for around 14 years and in that time, he has evolved into a stellar portfolio manager, combining experience across the yield curve, with robust credit evaluation skills.

Investment Philosophy (for firm)

To summarise from a series of documents titled ‘Nippon Way’ https://mf.nipponindiaim.com/LearnAndInvest/Pages/Nippon-Way.aspx

Media

MMI Interview with Sundeep Sikka, dated 2014

MMI Interview with Sunil Singhania, dated 2014

Analyst questions

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