Best for discretionary portfolio management in India 2022
Having its roots in a financial company with a conservative profile paid off for Centrum Wealth Management in 2021.
While the firm thrives on the entrepreneurial energy coursing through India, there’s a stick-to-the-basics code that works especially well when the global economy goes awry, says Arpita Vinay, managing director and co-head of Centrum Wealth.
This means Centrum Wealth’s commitment to institutionalized processes, checks-and-balances and de-risking held its business in good stead in the past year.
In 2021, overall assets under management rose a robust 48%, year on year. Centrum Wealth claims to have recorded one of the highest annualized insurance premium take-ups in the industry last year.
The firm’s strong focus on building annuity income also paid off. Mutual fund-based annuity revenue was up 65%, year on year, while annuity income overall surged 75%.
It was a similar story elsewhere too. Centrum Wealth’s asset management business showed a solid performance. Discretionary portfolio management services revenue grew 2.4 times, and the equity advisory business nearly doubled in revenue with a 75% AUM increase.
The impressive numbers of the wealth arm are in large part thanks to the broader Centrum Group’s journey these last two-plus decades.