360 ONE WAM LTD (360ONE) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management targets doubling profits in 3.5 years, aiming for a 20% tangible ROE, utilizing capital from the upcoming UBS warrant conversion.
- A major private equity fund worth INR 3,000-3,500 crores is set for redemption over the next 6-18 months, posing a headwind to AM AUM growth.
- The UBS partnership is on track for its FY27 target of $600-650M in reciprocal flows, with revenue sharing expected to yield 40-50 bps.
Performance Overview
- Total AUM grew 31% YoY to INR 9,00,000 crores, driven by strong ARR AUM growth of 19.7% and robust net flows of INR 12,482 crores.
- Wealth management business delivered strong performance with ARR AUM up 24.3% YoY to INR 2,52,627 crores, supported by broad-based net flows of INR 10,990 crores.
- ARR revenue retention improved to 79 bps, boosted by INR 60 crores in carry income from third-party funds; core retention remained stable at 67 bps.
- Strategic priorities remain focused on scaling the UHNI franchise, achieving breakeven in the HNI business, and building profitable growth in the ET Money platform.
- Collaboration with UBS progresses, with a target of exchanging $600-650 million in flows for the financial year; INR 300-325 million has been exchanged in the last three months.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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