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Iifl Wealth and Asset Management OUR PEOPLE OUR WEALTH Annual Report 2020-21 The COVID-19 disruption has been the single most defining period of our times. The suddenness, scale and impact have been staggering across all walks of life. And if there’s been one shining light that has come through for us during this period of disruption it is this – Our People. Our annual report is a testament to them; through real human stories that present a picture of how we continue to deliver value in spite of the challenges. Contents Chairman’s Message Our Businesses 04 Corporate 15 Landmarks Structure From the Wealth 22 CEO’s desk 12 Management Asset 06 Vision 16 Management Key Financial 13 IIFL-ONE 24 Highlights Geographies 18 09 14 02 Annual Report 2020-21 Directors’ Report 74 Distinguished Management Legacy Discussion Alliances and & Analysis 26 Partnerships 104 Company Key People: 62 Financials Owners Work Corporate and Workers Own In The Governance 166 News Report 28 Corporate 134 Information Team 64 Stories Presence on Business 326 34 Social Media Responsibility Report Environmental, 68 Social, 157 Governance (ESG) Awards and 48 Accolades Corporate Social 70 Responsibility at IIFL WAM 54 Events 59 IIFL Wealth Management Ltd. 03 Chairman’s Message Boston Consulting Group (BCG), financial wealth funds which have seen an overwhelming in India grew from 2015 to 2020 by 11% per annum response. You will be pleased to note that IIFL to $3.4 trillion and is expected to grow by 10% per Focused Equity Fund, was amongst the best annum to $5.5 trillion by 2025. India is expected performing funds in its category. to lead percentage growth of fortunes in the coming years and that augurs well for IIFL Wealth The year gone by has been one of the toughest years for businesses across the globe. The future & Asset Management. Your company is belongs to those businesses that can harness the I believe that well-poised to seize opportunities by optimally value contributed by their people, to create the we are currently at the cusp leveraging technology while staying tethered to right products and distribute them in the most our core philosophy of putting people first and of a great opportunity. The efficient way possible. strong stock market retaining the human element in wealth performance and a spike in management. Less than 15% of high net worth I would like to sincerely thank our fellow Board individual (HNI) financial assets is managed by members, our stakeholders and our investors, for savings has fuelled a wealth the top 25 wealth managers in India. Over the their constant support and trust reposed in us. boom globally. years, several global wealth managers have Your company’s Board remains committed to reduced their presence in the country even as ensure the highest levels of corporate Indian wealth managers continue to increase their governance. share. Your company has fortified itself as one of As we keep a close eye on the changing wealth Dear Shareholders, the leading pure wealth management company in management landscape, we are confident that the country with assets under management of The past year has been unprecedented in many interact has irrevocably changed. At the same with the support of the management and the over `2,46,000 Crs as on March 31, 2021. aspects. Our homes became our new workspace, time, the uncertain and high-risk landscape has people at IIFL Wealth and Asset Management, we will continue to capitalise on emerging Zoom calls replaced chats by the water cooler, put a spotlight on risk-mitigation and now, more In the pages ahead, you will read about how your opportunities that can deliver long term, and brainstorming sessions were dictated by the than ever before, brought to fore the importance company’s bold move to change its business sustainable growth for our clients, our employees Wi-Fi. All this happened, even as we and the rest of astute financial planning. model a couple of years ago, has resulted in and our stakeholders. of the world, dealt with the stress and fear of enhancing our leading position in the industry. On Technology is now playing a more integral role in managing the pandemic and its widespread the asset management side too, our AMC has Our annual report this year is dedicated to our our client’s journey and is becoming a fulcrum for impact. continued to innovate and pioneer thematic people, who are our wealth. growth. In parallel, the investment landscape is With no playbook in hand, we drew on the also going through a transition as tech-powered strength and support of our people to navigate innovation engenders new products and unique through these unprecedented times. Henry Ford investment avenues. A digital revolution is once said, 'Coming together is a beginning. underway and we are enthused by the large Keeping together is progress. Working together is number of possibilities in terms of product and success.' In the past year, this has been service innovation that we, as one of the leading exemplified by our people and partners who have wealth managers of India, can provide to the come together in varying ways to support each industry. other and the organization. I believe that we are currently at the cusp of a It is this solidarity that has held us in good stead great opportunity. The strong stock market and will continue to anchor us as we wade through choppy waters in the aftermath of the performance and a spike in savings has fuelled a pandemic. Inevitably, the way we work and wealth boom globally. According to a report by 04 Annual Report 2020-21 Boston Consulting Group (BCG), financial wealth funds which have seen an overwhelming in India grew from 2015 to 2020 by 11% per annum response. You will be pleased to note that IIFL to $3.4 trillion and is expected to grow by 10% per Focused Equity Fund, was amongst the best annum to $5.5 trillion by 2025. India is expected performing funds in its category. to lead percentage growth of fortunes in the coming years and that augurs well for IIFL Wealth The year gone by has been one of the toughest years for businesses across the globe. The future & Asset Management. Your company is belongs to those businesses that can harness the well-poised to seize opportunities by optimally value contributed by their people, to create the leveraging technology while staying tethered to right products and distribute them in the most our core philosophy of putting people first and efficient way possible. retaining the human element in wealth management. Less than 15% of high net worth I would like to sincerely thank our fellow Board individual (HNI) financial assets is managed by members, our stakeholders and our investors, for the top 25 wealth managers in India. Over the their constant support and trust reposed in us. years, several global wealth managers have Your company’s Board remains committed to reduced their presence in the country even as ensure the highest levels of corporate Indian wealth managers continue to increase their governance. share. Your company has fortified itself as one of As we keep a close eye on the changing wealth the leading pure wealth management company in management landscape, we are confident that the country with assets under management of The past year has been unprecedented in many interact has irrevocably changed. At the same with the support of the management and the over `2,46,000 Crs as on March 31, 2021. aspects. Our homes became our new workspace, time, the uncertain and high-risk landscape has people at IIFL Wealth and Asset Management, we will continue to capitalise on emerging Zoom calls replaced chats by the water cooler, put a spotlight on risk-mitigation and now, more In the pages ahead, you will read about how your opportunities that can deliver long term, and brainstorming sessions were dictated by the than ever before, brought to fore the importance company’s bold move to change its business sustainable growth for our clients, our employees Wi-Fi. All this happened, even as we and the rest of astute financial planning. model a couple of years ago, has resulted in and our stakeholders. of the world, dealt with the stress and fear of enhancing our leading position in the industry. On Technology is now playing a more integral role in managing the pandemic and its widespread the asset management side too, our AMC has Our annual report this year is dedicated to our our client’s journey and is becoming a fulcrum for impact. continued to innovate and pioneer thematic people, who are our wealth. growth. In parallel, the investment landscape is With no playbook in hand, we drew on the also going through a transition as tech-powered strength and support of our people to navigate innovation engenders new products and unique through these unprecedented times. Henry Ford investment avenues. A digital revolution is once said, 'Coming together is a beginning. underway and we are enthused by the large Keeping together is progress. Working together is number of possibilities in terms of product and success.' In the past year, this has been service innovation that we, as one of the leading exemplified by our people and partners who have wealth managers of India, can provide to the come together in varying ways to support each industry. other and the organization. I believe that we are currently at the cusp of a It is this solidarity that has held us in good stead great opportunity. The strong stock market and will continue to anchor us as we wade Nilesh Vikamsey through choppy waters in the aftermath of the performance and a spike in savings has fuelled a Chairman, pandemic.
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