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Aditya Birla Sun Life Asset Management

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Aditya Birla Sun Life Asset Management Company Limited
Company typePublic
ISININE404A01024
IndustryFinancial services
Founded1994
Headquarters
Mumbai, Maharashtra
,
India
Areas served
26 countries
Key people
A. Balasubramanian (CEO)
Services
RevenueDecrease ₹1,335.70 crore (US$160 million)[2] (2023)
Decrease ₹793.86 crore (US$95 million)[2] (2023)
Decrease ₹596.37 crore (US$71 million)[2] (2023)
AUMIncrease ₹29,849,298 lakh (US$36 billion) (2023)[3]
Total assetsIncrease ₹2,788.12 crore (US$330 million)[2] (2023)
Total equityIncrease ₹2,516.98 crore (US$300 million)[2] (2023)
OwnersAditya Birla Capital (50.01%)
Sun Life Financial Inc.(36.49%)[4]
Websitemutualfund.adityabirlacapital.com

Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Capital of India and the Sun Life Financial Inc. of Canada. The company offers sector-specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products and offshore funds.[5][6][7]

History

Birla Sun Life Asset Management Company was established in 1994 as a joint venture between the Aditya Birla Group (51%) and the Sun Life Financial of Canada (49%). The organisation offers a range of wealth accumulation and protection products, and services to individuals and corporate customers.[8][9]

Aditya Birla Financial Services Group (ABFSG) is the umbrella brand for the financial services business of The Aditya Birla Group. ABFSG ranks among the top five fund managers in India (including LIC) with an AUM of around Rs 3 trillion as of 2021.[8] The company portfolio includes life insurance, asset management, lending (excluding housing), housing finance, equity & commodity broking, wealth management and distribution, online money management portal (Aditya Birla Money MyUniverse), general insurance advisory, and private equity and health insurance businesses for both retail and corporate customers. In FY 2013–14, ABFSG reported consolidated revenue from these businesses at just under ₹70 billion (US$840 million) and profits of approximately ₹7.5 billion (US$90 million).[10] The company has 14,000 employees and over 6 million customers, with 1,500 points of presence and about 130,000 agents/channel partners.[citation needed]

Sun Life Financial, Inc. is a multinational financial services firm operating in India through Aditya Birla Sun Life Asset Management. Birla Sun Life Asset Management Company Ltd. (BSLAMC) was established in 1994 as a joint venture between Aditya Birla Group and Sun Life Financial, and has since then served as the investment manager for Birla Sun Life mutual fund. As of March 214, Birla Sun Life Mutual Fund was the fourth largest mutual fund in India based on domestic average assets under management, according to the Association of Mutual Funds in India (AMFI).[citation needed] This position was reaffirmed in 2021, when Aditya Birla Sun Life Asset management company launched its initial public offering (IPO) on the stock exchange and became a publicly-listed company.[11][12]

Mutual funds

It offers a variety of investment products and schemes including debt, treasury and equity schemes, investments including fund of fund schemes, wealth management services, regular income schemes, offshore funds, hybrid and monthly income funds, Wealth Creation, tax savings strategies, and also introduced research-based investments.

By 2020, it maintained a presence in several global markets including the United Kingdom, United States, Canada, Japan, Indonesia, Philippines, Ireland, China, Hong Kong, Bermuda, and India.[citation needed]

See also

References

  1. ^ a b c d e f "Our Businesses | Aditya Birla Capital".
  2. ^ a b c d e "Aditya Birla Sun Life AMC Ltd. – ABSLAMC Q4FY23 results" (PDF). bseindia.com. Retrieved 15 June 2023.
  3. ^ "AUM as on the last day of the Quarter" (PDF). mutualfund.adityabirlacapital.com. 30 June 2023.
  4. ^ Sonavane, Ravindra N. (14 April 2021). "Aditya Birla Capital, Sun Life to sell 13.5% stake in asset management biz IPO". mint. Retrieved 23 April 2021.
  5. ^ Allirajan, M (25 February 2016). "Birla Sun Life Mutual Fund introduces 100% paperless, Aadhaar-based eKYC". The Times of India. Retrieved 15 June 2022.
  6. ^ K, Muthukumar (28 August 2016). "Birla Sun Life Cash Plus: A secure avenue for surplus funds". The Hindu Business Line. Retrieved 3 November 2016.
  7. ^ "Birla Sun Life MF buys 7.19 lakh shares of Shriram City Union". www.moneycontrol.com. Retrieved 3 November 2016.
  8. ^ a b Laskar, Anirudh (8 March 2021). "Birla Sun Life plans1 raise ₹5,000 crore from share sale". mint. Retrieved 27 April 2021.
  9. ^ "About Us - Aditya Birla Sun Life Mutual Fund".
  10. ^ "Aditya Birla Group- The big player of Indian Business space. Sources". InsideIIM. Retrieved 9 April 2022.
  11. ^ Madia, Chirag (20 April 2021). "Aditya Birla MF files IPO document with Sebi; issue size Rs 2,000 cr". Business Standard India. Retrieved 23 April 2021.
  12. ^ "Aditya Birla Sun Life AMC IPO Price Band Likely At Rs 695 - Rs 712, Valuation Over Rs 20,000 Crore: Sources". Moneycontrol. Retrieved 24 September 2021.
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