Target: ₹550
CMP: ₹429.10
360 One WAM (360ONE), erstwhile IIFL Wealth Management, is well placed to tide over a difficult environment in terms of savings, wherein the equity markets have been volatile and interest rates have been rising.
With a wide product portfolio, 360ONE is capable of countering the cyclicality as it is seeing strong traction in credit products and advisory mandates (IIFL One inflows of ₹8,400 crore in 9MFY23 v/s ₹3,500 crorein FY22).
In order to grow ARR AUM, 360ONE is focusing on a five-point strategy: 1) increase wallet share among existing clients, 2) expand into new geographies, 3) increase share in inter-generation wealth transfer, 4) chase new money and 5) scale up AMC.
Retentions could be under pressure as the asset mix moves toward fixed income and as competitive intensity increases.
Over the past decade, 360ONE (erstwhile IIFL Wealth) has evolved into one of the best wealth management franchises in India. It has become one of the largest alternative asset managers with unique product offerings. With IIFL ONE, the company is looking to change the way wealth management is offered in India by focusing on recurring revenue rather than the traditional approach of transaction- based revenue.