Structural TER compression from telescopic pricing
Management acknowledged that margin compression from telescopic pricing is inevitable and remains an industry reality, which could pressure yields over time.
HDFCAMC / Q2-FY26 / risks
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HDFC Asset Management Company · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Market volatility impacting equity flows
While SIPs have remained resilient, management noted potential cyclicality in flows if market returns remain subdued, as seen in the past.
Alternatives business profitability timeline uncertain
When asked about revenue contribution from alternatives, management declined to give a forward-looking statement, indicating uncertainty in scaling profitability.