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Informist, Tuesday, Apr. 21, 2026

 

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--360 ONE WAM: Working to reduce cost-to-income ratio to 45-46% 
--CONTEXT: 360 ONE WAM management's comments in post-earnings analyst call 
--360 ONE WAM: Aiming to get 12-15% opening AUM growth every yr 
--360 ONE WAM: See huge potential to grow in mutual fund business 
--360 ONE WAM: Hoping to double mkt share over next 3-5 yrs 
--360 ONE WAM: Need to work on getting domestic insurers to invest in AIFs 

 

By Priyasmita Dutta and Shumaila Feroz

 

NEW DELHI/MUMBAI – 360 ONE WAM Ltd. plans to maintain an opening assets under management growth of 12-15% on year, even if it may sound like a "tall order", Managing Director and Chief Executive Officer Karan Bhagat said Tuesday. "We really strongly believe we should be able to get to 12 to 15% of our opening AUM every year as net flows. It's a tall order, but we continue to work hard," Bhagat said in a post-earnings analyst call. 

 

"We should be able to grow our AUM on the wealth management side by 20-25%, grow our relationship managers carefully by 25-30% every year over the next 3-4 years. And effectively grow our profits on the wealth management side by 15 to 25%," Bhagat said. 

 

At the end of the March quarter, the wealth and asset management firm's total AUMs grew 16% on year to INR 6.74 trillion, with asset management AUM growing 13% on year to INR 952.06 billion, and wealth management AUM growing 17% to INR 5.79 trillion. The company's net profit for the period was INR 2.89 billion, up 16% on year. Revenue from operations of the wealth management company grew 27% on year to INR 11.15 billion.

 

Bhagat said that on the asset management side, the alternatives industry continues to grow in a "very, very big way" with business from it allowing the firm to participate in areas that drive the balance sheet of both the company and the client. The alternatives industry includes non-traditional assets like private equity, private credit, hedge funds, real estate, and infrastructure, aimed at higher returns and diversification from public markets.

 

"The mutual fund industry continues to do extremely well...that's one of the areas where we potentially could do better," he said. Another area for the firm to build on is attracting participation from domestic institutions and insurance companies into alternative investment funds, he added. Leveraging on the existing business and building on the above will help the wealth management company double its market share over the next three to five years, the managing director said. 

 

Reducing the company's cost-to-income ratio is one of the most important tasks in 2026-27 (Apr-Mar), Bhagat reiterated Tuesday. "We still believe that at a cost-to-income ratio of 49 to 50%, it's something which we should be able to get down to 46-48%," he said. "And over the next two to three years...we strongly continue to work hard to ensure that our cost-to-income ratios move towards the 45% to 46% to 47% numbers, driven both by operational leverage and efficiency on the core businesses, as well as improvement in the new businesses."

 

360 ONE WAM's cost-to-income ratio stood at a four-year high of 52.9% at the end of March. Shares of the company Tuesday ended at INR 1,108.35 on the National Stock Exchange, almost flat from the previous close. 

 

The company also received an income tax order of INR 3.36 billion earlier in the day. "We believe that we have duly discharged all tax liabilities as applicable," Bhagat said while addressing analysts. "We have adequate factual and legal grounds to substantiate our position, and we do not expect any material impact on the financials or on our operations," he said. "We will pursue appeals against the entire order under the applicable laws," the managing director said.  End

 

Edited by Deepshikha Bhardwaj

 

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