Tata Asset Management Limited (TAML) was established in 1994 and is among the oldest asset management companies in the country. Tata Sons owns a 68% stake and Tata Investment Corporation Ltd owns a 32.09% stake in TAML.
As of March 31, 2023, the total assets under management are INR 106,697 crores (~ $13.01 billion @82 INR per USD). The company manages funds which include equity funds, hybrid funds and gilt funds. The company also offers portfolio management services to high-net-worth individuals and advisory services to offshore investors.
Key numbers for the financial year 2021-22
Reported total revenue from operations of Rs 342.29 crores (~ USD 42 million) and profit after tax of Rs 103.45 crores (~USD 12.7 million) for the financial year 2021-22.
|Year||Total Income (INR crores)||Total Expense (INR crores)||EBIT (INR crores)||EBIT Margin||Net Profit (INR crores)||Total Income (USD millions)||Total Expense (USD millions)||Net Profit (USD millions)|
Prathit Bhobe, CEO & MD – Bhobe has spent 11 years at ICICI Bank as senior general manager heading the Retail Liabilities Product, Wealth Management and Private Banking business. Before that he had an eight-year stint at Citibank, where he ran the banking vertical in the distribution process.
Rahul Singh, CIO, Equities – He has over 26 years of investment experience, previously managing partner at Ampersand Capital Investment Advisors LLP. He has worked with Standard Chartered Securities and Citigroup Global Markets India as Head of Equity Research. Rahul is a Bachelor of Technology in Mechanical Engineering from IIT Bombay and an alumnus of IIM Lucknow where he pursued his Master of Business Administration in Finance and Financial Management Services.
Murthy Nagarajan, Head of Fixed Income – He has been associated with the company since 2016. With an expertise spanning decades in the debt market, Murthy brings in a rich and valuable industry experience of more than 24 years in the financial services space. Previously Murthy worked with Quantum AMC. He was also associated with Mirae Asset Global Investment India Ltd in the Investment Department as the Head of Fixed Income for more than two years. Murthy holds a Master of Commerce degree and has completed his PGDBA from Somaiya Institute of Management & Research.
Investment philosophy (for firm)
The following information has been taken from the company’s website.
The Tata AMC philosophy is centered on seeking consistent, long-term results. They aim at excellence within the framework of transparent and rigorous risk controls. The core strength of the company stems from its intellectual capital and its robust risk management framework based on in-built controls and balances. The company follows a top-down approach to investing.
Tata Asset Management considers buying 45% in UTI AMC
Rahul Singh of Tata Mutual Fund shares his approach to the market – CNBC TV18 on 8th April 2022
In an interview with CNBC tv18 Rahul talks about increasing margin pressure due to commodity inflation and fear of interest rate hike which will keep the markets range bound on the index. This shows that he follows a top-down approach to investing.
Post Budget Commentary by Murthy Nagarajan, head of fixed income – Investment Guru India on 3rd Feb 2022
Post the union budget Murthy Nagarajan talks about how the government has clearly shown its objective which is growth by increasing the capex targets. It is focusing on growth for which they are ready to take short term pain in the form of higher fiscal deficit. Due to the huge borrowing program interest rates are going to go up in short term debt. The yield curve has spiked by 25 bps after the budget and expectation is it will go up further. Short term or money market products are very attractive to invest in this scenario.
Budget 2022, must focus on execution of elements of last year’s budget: Rahul Singh, CIO-Equities, Tata Mutual Fund – moneycontrol – 26th Jan 2022
The attempt to revive the investment cycle is much needed to sustain GDP growth at a higher trajectory of 7 percent and Singh believes that early signs of investment revival in the private sector are visible.
A shift towards an accommodative fiscal policy, in addition to a monetary policy, is critical especially if the thrust of the additional spending continues to be on capital account rather than revenue expenditure. Given the strong economic recovery, which has resulted in robust revenue collections, Singh thinks that the government has enough elbow room to provide for higher capex growth and social sector spending like employment guarantee and cash transfer schemes.
Prepared by – Rahul Sharma, May 2022, updated financials Anasuya Dhar Dec 2022
Updated by – Oraina Dsouza, June 2023