Total asset under management (AUM) was at Rs 43,413 crore in the quarter ended 30 June 2023, up 31.7% as against Rs 32,961 crore recorded in the corresponding quarter previous year.

Rakesh Rawal, chief executive officer said, “Our strong performance was further fueled by the robust growth in our Asset Under Management (AUM), which witnessed 32% YoY increase, reaching to Rs. 43,413 crore. This growth was driven by cumulative efforts of team and favorable market conditions. Additionally, we continued to expand our client base, adding 395 client families during Q1 FY24. In terms of Relationship Managers, we successfully added 15 new RMs on a net basis this quarter. We firmly believe that the Wealth Management sector holds immense potential, and this motivates us to remain committed to our vision of providing high-quality solutions that fulfil our clients' objectives.”

Feroze Azeez, deputy chief executive officer, said, “We have 8,700+ satisfied client families out of which 62% are with us for more than 3 years and account for 80% of our AUM. At Anand Rathi Wealth, our core belief has always been centered around offering uncomplicated, standardized and well researched wealth solutions to our clients. This philosophy has not only enabled us to consistently achieve desired returns but also enhance our client retention capabilities . Our client attrition rate is less than 1% in terms of AUM lost for Q1 FY24 which speaks of value which we add for our clients.”

Anand Rathi Wealth is engaged in business of services for distribution and sale of financial products.

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