Gold
AUMs likely to grow 9-11%
The growth in assets under management (AUM) of NBFCs and HFCs is likely to be According to a report, the growth in assets under management (AUM) for NBFCs and HFCs in FY23 is predicted to be between 9-11 per cent higher than the 9.5 per cent increase in the previous fiscal.
According to a note from rating agency Icra Ratings, the rapid growth seen in Q4 FY22 was a major factor in the rise in AUM of non-banking financial companies (NBFCs) and housing finance companies (HFCs) in fiscal 2022.
While HFCs grew by almost 10 per cent in the previous fiscal, NBFC retail and wholesale saw increases of 8.5 per cent and about 12 per cent, respectively.
On the sector funding resources, the agency said the non-convertible debenture (NCD) issuances by NBFCs and HFCs in Q1 FY23 hit a multi-quarter low - around 28 per cent lower than Q1 FY22 and 65 per cent less than Q1 FY21.
