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Indian Wealth Management Forum 2019 - Exclusive Insights - Satheesh Krishnamurthy

Satheesh Krishnamurthy

Executive Vice President & Business Head - Affluent & NRI

Axis Bank

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  • 1. What does the current revenue mix of wealth managers in India look like? How is it changing?

    If you look at the wealth management industry's revenue pie: about five years ago, largely, the source of revenue was from mutual fund distribution. If you look at it today, there is a big shift from the distribution of just mutual funds, to products like portfolio management services and AIFs. That's on the distribution of products. The second big revenue pool (in which) we are seeing action is on leverage solutions, where you provide leverage. For example, if you have a deposit with a bank, you can leverage against the deposit X times and provide higher alpha to customers. So clearly there is a big shift from just purely distribution of mutual funds as an income stream, to developing PMS and AIF as a new stream, and leverage products as a new stream.