Nippon Life Asset Management is one of India’s largest asset management company offering products across the entire spectrum of wealth management. Financialisation of savings is driving increased flows into mutual funds and professional fund managers such as Nippon Life benefit from this trend. Post complete acquisition of the business by Nippon Life, institutional investors are gradually coming back. Also it opens up new business avenues for the company from overseas investors, given Nippon Life’s network, reputation and position. Major risk factor is SEBI limits on charges and sustained bear market in debt and / or equity. Business has high operating leverage and scope for secular growth. We have an overweight rating on the stock due to good long term prospects – 23-01-2020 Price: 346.20 Rating: Over Weight Recommendation: Hold
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