CAMS - Prepared To Succeed In Conjunct Opportunities: Motilal Oswal Initiates Coverage

CAMS - Prepared To Succeed In Conjunct Opportunities: Motilal Oswal Initiates Coverage

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Motilal Oswal Report

Computer Age Management Services Ltd., with a 70% market share (versus 64% in FY15), is the leader in India’s mutual fund registrar and transfer agent industry.

The addition of new customers and rising market share of its incumbent customers has led to the company consistently gaining prominence in this duopoly market.

CAMS is entrenched with four out of the five largest MFs as well as 10 of the 15 largest MFs based on average assets under management.

This makes it is a direct play on the growing financialisation of savings in India, and is also a key enabler for digitisation in the MF industry. With MF penetration in India at just 16% as against the global average of 63%, we expect a strong 15% compound annual growth rate in AUM for the industry in the coming decade.

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Motilal Oswal CAMS Initiating Coverage.pdf
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