ICICI Pru AMC: Jefferies sees 28% upside as alternates biz AUM hits Rs 81,000 cr
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- ✓Jefferies sees a 28 percent upside for ICICI Prudential AMC as its alternates business AUM hit Rs 81,000 crore.
- ✓The bank said the company grew faster than peers due to its large scheme basket.
- ✓Earnings could increase at 14 percent CAGR as the firm continues to invest in new initiatives.
Story at a Glance
- Category
- MARKET
- Reported By
- Financial Express
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The investment bank has raised its FY27-FY29 estimated earnings per share (EPS) view by 1-2%. Jefferies attributed its rating to lower reliance on marquee funds, 4-10 schemes within top and upper mid-tiers in the last five years, and expansion of alternates business, which is an additional growth lever.
Jefferies said ICICI Prudential AMC is the largest active asset manager in India and has grown faster than its peers. This growth was driven by its larger scheme basket and early entry into the portfolio management services segment.
Jefferies on ICICI Pru AMC: AUM growth
The investment bank expects the company's assets under management (AUM) to expand at 17% compounded annual growth rate (CAGR) over FY26 to FY29. This will be led by mutual fund AUM growing in line and alternates growing faster.
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