360 One WAM , a leading wealth and asset management firm, has reported its highest quarterly profit to date, showcasing strong growth across key financial metrics for Q2. The company's performance highlights its robust position in the wealth management sector and its ability to attract significant client inflows.

Financial Highlights

Key Performance Indicators

• Wealth ARR AUM crossed the ₹2 lakh crore milestone
• Strong net flows of ₹32,132.00 crore in H1
• Q2 flows at ₹8,734.00 crore (excluding UBS)
• Board approved a second interim dividend of ₹6.00 per share

Business Expansion and Strategic Moves

The company reported significant progress in various business segments:

1. UBS Business Transfer: The transfer brought over ₹5,200.00 crore of AUM from 80+ UHNI families.
2. HNI Business Expansion: Added 50+ Relationship Managers (RMs) and 380+ clients across 10 locations.
3. B&K Acquisition: Integration is progressing well with synergies being realized.
4. ESOP Allotment: 2,09,895 equity shares allotted under ESOP schemes, increasing paid-up capital to ₹40,49,70,337.00.

Management Commentary

Karan Bhagat, MD and CEO of 360 ONE WAM, expressed confidence in the company's growth trajectory: "We remain very positive on our overall flow outlook for the year. With multiple senior high-quality teams having been added over the last few quarters, we expect strong flows on the Wealth business to continue over H2 and beyond."

Future Outlook

The company aims to maintain strong net flows of ₹8,000.00 to ₹10,000.00 crore per quarter, with approximately 75% coming from the wealth side and 25% from asset management. Management expects gradual improvement in the cost-to-income ratio for the consolidated business over the coming quarters as they scale up and drive synergies from new initiatives.

360 ONE WAM's robust performance in Q2 underscores its strong market position and ability to capitalize on the growing wealth management sector in India. The company's strategic initiatives, including the UBS collaboration and expansion in the HNI segment, are expected to drive future growth and enhance its competitive edge in the market.

360 One WAM , a prominent player in the wealth and asset management sector, has made a significant move by acquiring over INR 5,200 crores in assets under management (AUM) from UBS India's business. This strategic acquisition brings more than 80 ultra-high net worth families into 360 ONE WAM's client portfolio, marking a substantial expansion in their market presence.

Key Highlights

Business Performance and Projections

360 ONE WAM reports steady gross flows in equities and alternatives, with expectations of strong new product offerings in the coming quarters. This outlook suggests the company's commitment to diversifying its product range and catering to evolving client needs.

The company projects its cost-to-income ratio to reach 47-48% by the third or fourth quarter of FY25, with a slight improvement to 46-47% in the subsequent year. This indicates a focus on maintaining operational efficiency while scaling up its business operations.

Financial Targets

360 ONE WAM has set targets for its financial performance:

1. Quarterly net flows are expected to range between INR 8,000-10,000 crores.
2. The company anticipates that 75% of these net flows will come from wealth management, while the remaining 25% will be contributed by asset management.
3. Annual transaction income is projected to grow by 10-15%, with a target range of INR 900-1200 crores.
4. Net flows are expected to account for 10-12% of the initial AUM.

These projections reflect 360 ONE WAM's strategy and its aim to capitalize on market opportunities.

The acquisition of UBS India's AUM and the onboarding of numerous ultra-high net worth families signify 360 ONE WAM's expanding footprint in the wealth management space. This move may potentially strengthen the company's position in the competitive wealth and asset management industry.

As the company continues to grow and adapt to market dynamics, investors and industry observers will likely keep a close watch on 360 ONE WAM's ability to meet its projected targets and maintain its growth trajectory in the coming quarters.