Anand Rathi Wealth Limited CC-Mar24.pdf · 2024-04-15
Thank you sir and congratulations on a good set of results. So, two questions which have been asked already. I just wanted some follow-ups on the same. Sir, first is on the structure product bit. So, you said that it could go back to 30. I am not holding that as a guidance. I am just saying maybe directionally it will go up from the current mix. So are we building new capacity for this or we think that maybe in a time where the markets are doing very well, maybe mutual funds take over a little bit more versus structure product and maybe in the next two years, obviously, I mean, markets do stabilize and that's how the structure product come back into flavor. So just wanted to understand the reason for the 30%- 35% improvement. What are the vectors for the same? And the second question is that, obviously, you have given a very good guidance for FY '25, but do you think that it is a little conservative because in the previous question you said that the number of RMs could actually reach 380. So that's about a 14% growth. And then obviously, you would have your -- some of your older RMs continuing to actually move higher up. Last year -- this year also you had some 20% actually growth in your RMs, which are more than 5 years which actually yield to a very high productivity. So, if you could just kindly delve a little more into your guidance of 24% PAT growth and a 21% AUM growth. So, these are the two questions. Thank you.
And sir, just on the first question that I had, if you could just elaborate a little bit more. So I understand that obviously having mature and understood that our process on suggesting a particular product is obviously very scientific. So just wanted to understand a little bit more on the structure product. So when you say rather if not guide that the share of Structure products would improve, what I was trying to check is that do you look that the capacities in this particular segment will move up. That's how it is a 30%-35% kind of a mix from the current. I f I am not on 25%? Or is it that some of the investors do not have structure products, which if they look to add to their portfolio, that's how the mix would move up? Or thirdly, does it naturally happen that, if at all, we assume that markets are not going to be the way they have been buoyant in the last 1 year, naturally, the share of structure products move up. So I just wanted to understand that when you say 30%-35%, what are the points that you look to highlight, if assume for us that it should move 30%-35% because this will obviously take your yields also higher. So that's the last thing. Thank you.