DWS Group (DWS) with EUR 833bn of assets under management (as of 30 June 2022) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

Nippon Life said that the economy of the world's second most populous country is growing strongly, with real gross domestic product (GDP) increasing by 8.7% in 2021, and the International Monetary Fund forecasting a rise of approximately 7% to 8% in 2022 and approximately 6% to 7% percent in 2023.

Debt to GDP level has been relatively stable around 70 percent over the previous decade and the largest democracy in the world has never defaulted in the past. In addition, being net importer of energy, the Indian rupee is negatively correlated to energy prices, meaning a potentially higher resilience of Indian government bond's exchange-rate adjusted returns, during economic downturns.

The market size for securities issued by the Indian government is more than USD 1 trillion as of August 2022. This ranks it between the corresponding markets in Canada and Spain, in the emerging markets local currency space it is only second to China's treasury market.

Indian rupee-denominated government bonds issued by the Indian government for reasons of limited liquidity and accessibility are not included for the time being in flagship indices such as Bloomberg Global-Aggregate or J.P. Morgan Government Bond Emerging Markets Global Diversified.

The relevant index (J.P. Morgan India Government Fully Accessible Route (FAR) Bond index) aims to track the performance of fixed-rate Indian rupee-denominated Indian government bonds that have been made eligible for investment to non-residents under the Fully Accessible Route (FAR).

The FAR is a separate channel established by the Reserve Bank of India, in consultation with the Government of India, through which eligible investors can invest in specified Government securities without any investment ceilings. The instruments comprise FAR-eligible fixed-rate and zero-coupon bonds.

Nippon Life India Asset Management (Singapore), a wholly owned subsidiary of Nippon Life India Asset Management, through this collaboration is providing portfolio management and investment advisory services to the European-listed Indian Government Bond ETF.

Sundeep Sikka, executive director and CEO at Nippon Life India Asset Management, said: “We are delighted to provide access to India's growth story to DWS' investor base through this association. Long-term track record and deep understanding of the Indian capital market and ETF segment can be leveraged further through this opportunity. I believe such collaboration with DWS can go a long way in attracting global allocations into India.”

Nippon Life India Asset Management (NAM India) is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including exchange traded funds, managed accounts, including portfolio management services, alternative investments funds and pension funds; and offshore funds and advisory mandates. Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund (NIMF).

The company's consolidated net profit tumbled 37% to Rs 114.34 crore on 18.9% declined in total income to Rs 299.37 crore in Q1 FY23 over Q1 FY22.

The scrip advanced 0.22% to end at Rs 297.50 on the BSE today.

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Nippon Life India Asset Management (Singapore), the wholly owned subsidiary of Nippon Life India Asset Management is collaborating with DWS for providing portfolio management and investment advisory services to the European-listed Indian Government Bond ETF.

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Nippon Life India Asset Management has allotted 3,69,045 equity shares under ESOP on 19 August 2022. With this allotment, the company's paid up equity share capital stands increased to 62,29,03,550 equity shares of Rs 10 each.

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Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund (NIMF).

Consolidated profit before tax stood at Rs 154.59 crore in Q1 FY23, down 34.5% from Rs 236.03 crore recorded in the corresponding quarter previous year. Operating profit in Q1 FY23 was at Rs 171 crore, up by 1% YoY.

As on 30 June 2022, NAM India's assets under management was Rs 3,30,684 crore ($41.9 billion).

For the quarter ended 30 June 2022, NIMF's overall AUM market share rose to 7.40%, registering an increase of 16 basis points as against the quarter ended 30 June 2021.

For the quarter ended 30 June 2022, NIMF's average assets under management was Rs 2,79,431 crore ($35.4 billion), recording a growth of 16%.

For the quarter ended 30 June 2022, share of Equity Assets rose to 42% of NIMF's AUM as against 41% for the quarter ended 30 June 2021.

As on June 2022, NIMF has one of the largest retail assets in the Industry, at Rs 74,101 crore ($9.4 billion). Retail assets contributed 27% to NIMF's AUM.

As on June 2022, Individual AUM stood at Rs 136,742 crore ($17.3 billion) and contributed 50% to NIMF's AUM.

For the quarter ended 30 June 2022, NIMF is one of the largest ETF players with AUM of Rs 60,091 crore ($7.6 billion) and a market share of 14%.

Sundeep Sikka, ED & CEO of NAM India, said “Domestic economy as well as the Mutual Fund industry were impacted in Q1 due to macro headwinds. In this dynamic investment environment, “Investors' interest” continues to be our prime focus. We remain committed in supporting our clients pursue their long-term financial goals and add sustainable value.”

He further added, “Today, NAM India is humbled to have the faith and trust of over 1.8 crore investors, which is the largest investor base in the MF industry. NIMF's overall market share also improved by 16 basis points. The granularity of our distribution, consistent fund performance, strong governance architecture and de-risked business model have created beneficial opportunities, even in tough macro conditions. With a 100% investor-centric approach, our endeavour is to consistently create a better future for all stakeholders.”

Nippon Life India Asset Management (NAM India) is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including exchange traded funds, managed accounts, including portfolio management services, alternative investments funds and pension funds; and offshore funds and advisory mandates.

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