Carnelian Asset Management & Advisors announced receiving approval from the Securities and Exchange Board of India (Sebi) to launch its mutual fund business. According to reports from PTI, the firm plans to offer both active and passive funds, stating that the MF licence will allow the firm to cater to a broader investor base, offering reliable investment solutions based on active as well as passive strategies through equity, debt and hybrid products. The approval will enable the firm to expand its offerings to retail investors by launching active and passive investment products across equity, debt and hybrid categories.
Nippon Life India Asset Management reported impressive financial results for Q1 FY 2027, with net profit of ₹503 crore, representing a 27% jump from the same quarter last year. As reported by Business Standard, the profit was supported by a similar rise in revenue from operations, which increased from ₹607 crore in Q1 FY 2026 to ₹767 crore in Q1 FY 2027. The company's average mutual fund assets under management (AUM) grew 23% year-on-year in Q1 to ₹7.5 trillion. According to Motilal Oswal, Nippon's strong performance was aided by other income of ₹170 crore, up 17% year-on-year, compared to a loss of ₹33 crore in the previous quarter. The company's other income boost was a key factor in beating profit estimates, as noted by the brokerage firm.
The strong performance was driven by buoyant equity markets that lifted assets under management through mark-to-market gains. As reported by Kotak Securities, the Nifty 50 gained 6.9% during the quarter, while the Nifty Midcap 150 and the Nifty Smallcap 250 surged 17% and 24% respectively, boosting the value of mutual fund portfolios. According to Ventura Securities, since AMCs earn fees based on AUM, the appreciation in market value increased their earnings, even without fresh inflows. The treasury gains recovered in the June quarter after most AMCs reported losses in treasury income during the March quarter due to weak market conditions.
According to Business Standard, quarterly systematic flows rose 13% year-on-year to ₹11,030 crore, indicating strong investor confidence in the company's offerings. The company's average AUM of ₹7.5 trillion demonstrates significant growth in the mutual fund segment. Founded in 2019 by Vikas Khemani, Manoj Bahety and Swati Khemani, Carnelian Asset Management currently manages over ₹18,300 crore across PMS, AIFs and offshore investment strategies, serving over 8,600 clients through a network of more than 710 partners as of June 30, 2026.
The domestic mutual fund industry continues to show robust growth, with assets under management of over ₹82 lakh crore as of June 30, 2026, according to PTI. The industry now serves more than 20 crore folios and around 10 crore active SIP accounts. However, sequential performance showed mixed results when excluding one-off gains. As reported by Equirus Securities, while reported PAT rose significantly, core PAT growth was much slower - HDFC AMC's core PAT grew only 3.5% sequentially despite 34.5% reported PAT growth, and Nippon AMC's core PAT fell 9.3% despite 30.8% reported PAT growth. SIP flows moderated across AMCs, with Nippon Life's SIP assets declining marginally to ₹31,800 crore from ₹32,100 crore quarter-on-quarter.
