HDFC Asset Management Company

It’s true that there are very less comparable US companies to any plain MF company in India. The US AM industry is so far ahead, that it’d be a crime to even begin making a comparison. However, what I meant was to look at how the immense competition in this space has evolved in the US. The following are some great articles to read up on, to understand this:

  1. The History of Mutual Fund Industries in UK, USA and INDIA

  2. https://www.globalfinanceschool.com/book/us-capital-markets/american-mutual-fund-industry

If you are asking about the assumptions, then I usually get some of my assumptions from Prof. Aswath Damodaran’s Useful Data Sets. In this specific case, I got the Terminal Period Margins from this specific file from his website: marginIndia.xls (69 KB)

The Professor uploads all this data on his website (For free!) every year. It may not be very accurate, considering how most of the data is targeted on the US, with APAC being a little sparse (However, there are India-specific data available here and there). But it should be good for approximation purposes (Which is what we’re trying to do with a Valuation). I made a thread on this initially, but there wasn’t much activity, so I didn’t bother updating it:

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