Regulatory margin compression from exit load removal
Removal of 5 bps additional TER and TER restructuring may impact larger schemes; management expects to optimize but net effect uncertain.
HDFCAMC / Q3-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
Fund manager transition impact on flows
Analyst raised concern about flows into funds managed by exiting fund manager Rashi; management downplayed but acknowledged potential sentiment impact.
Telescopic pricing pressure on yields
As AUM scales, sliding scale TER structure naturally compresses yields; management expects steady yields but compression is inevitable over time.
Liquid fund market share decline
Liquid fund market share dropped from ~13% to ~11% over 10-11 quarters; management attributes to institutional client movements but no specific mitigation.