Systematix AUM rises 26% to Rs 1,151 crore in Q2 FY27

Systematix Group increased assets under management, or AUM, by Rs 241 crore to Rs 1,151 crore in Q2 FY27 from Rs 910 crore in Q1 FY27, a 26% quarter-on-quarter increase. Mutual funds added Rs 200 crore, while Systematix also disclosed new alternative investment fund, or AIF, and portfolio management service, or PMS, activity.

How did Systematix AUM change in Q2 FY27?

Systematix reported total AUM of Rs 1,151 crore in Q2 FY27, up Rs 241 crore from Rs 910 crore in Q1 FY27. The disclosed movement represents a 26% quarter-on-quarter increase, based on the reported AUM totals.

Mutual funds accounted for most of the increase, rising Rs 200 crore to Rs 803 crore from Rs 603 crore. PMS AUM increased Rs 35 crore to Rs 223 crore, while AIF AUM rose Rs 6 crore to Rs 125 crore. The segment figures add to the reported total in both quarters.

Mutual funds represented Rs 200 crore of the Rs 241 crore total AUM increase, making this the principal source of quarterly growth. PMS provided the next-largest contribution at Rs 35 crore, whereas AIF growth was Rs 6 crore over the same Q1 FY27-to-Q2 FY27 comparison.

Which AIF and PMS products did Systematix disclose?

Systematix said it had received Securities and Exchange Board of India, or SEBI, approval for the Systematix India Select Equity Fund, a Category III AIF. Its presentation also identifies the India SME Growth Fund as a Category I AIF and the India Equity Opportunities Fund as a Category II AIF.

For the Category II India Equity Opportunities Fund, Systematix reported investor interest or commitments of more than Rs 170 crore. The stated fundraising target is Rs 750 crore to Rs 800 crore, but the presentation does not give a fund-close date, investor count or capital-drawdown figure.

Systematix listed three PMS offerings: Dynamic Investment Portfolio, Systematix Emerging Leaders PMS and Million to Billion PMS. It said the first tranche had been deployed in the two newly launched schemes referred to as M2B and EIS, without providing deployment values, launch dates or performance figures.

What progress has Systematix reported in its existing AIFs?

Systematix said its Category I India SME Growth Fund had completed seven investments and drawn down 65% of capital by the Q2 FY27 presentation. The fund had also exited its first investment, while two portfolio companies had been listed.

Three portfolio companies in the India SME Growth Fund had filed draft red herring prospectuses, or DRHPs, according to the presentation. Systematix did not disclose the names of the companies, the value of the first exit, fund returns or the timetable for the three proposed public-offering processes.

The AIF AUM line increased to Rs 125 crore in Q2 FY27 from Rs 119 crore in Q1 FY27. That Rs 6 crore change was below the Rs 200 crore mutual-fund increase and the Rs 35 crore PMS increase, while the India Equity Opportunities Fund's Rs 750 crore to Rs 800 crore target remains a disclosed fundraising plan.

How is Systematix expanding its team and reach?

Systematix reported four new offices across Mumbai, Indore, Kolkata and Delhi. The presentation describes the additions as an expansion across four key cities but does not disclose their opening dates, operating costs, employee allocations or individual product responsibilities.

Reported team strength increased to 38 in Q2 FY27 from 25 in Q1 FY27, an addition of 13 people. The presentation does not split the team between investment management, distribution, operations, compliance or the four new office locations.

Assets under custody increased Rs 1,400 crore to Rs 12,200 crore in Q2 FY27 from Rs 10,800 crore in Q1 FY27. Systematix reports this metric separately from its Rs 1,151 crore AUM, and the presentation does not provide a reconciliation or segment-level custody breakdown.

How does the expansion compare with Systematix's financial results?

Systematix reported consolidated total income from operations of Rs 57.81 crore in Q2 FY27, compared with Rs 56.26 crore in Q1 FY27 and Rs 55.72 crore in Q2 FY26. Consolidated profit after tax was Rs 13.13 crore, compared with a loss of Rs 4.89 crore in Q1 FY27 and profit after tax of Rs 14.48 crore in Q2 FY26.

The presentation says the private-wealth business is making upfront investments in senior talent, technology enablement and regulatory infrastructure. It says these investments affected short-term profitability and are expected to support sustainable revenue growth, but does not disclose the associated expense or a timing for revenue contribution.

For H1 FY27, adjusted revenue from operations was Rs 83.67 crore, compared with Rs 89.07 crore in H1 FY26. Reported profit after tax was Rs 8.24 crore in H1 FY27 versus Rs 24.94 crore a year earlier, placing the Q2 AUM expansion alongside lower first-half adjusted revenue and profit year on year.

Conclusion

Systematix's Q2 FY27 asset-management update combines a Rs 241 crore AUM increase with product development and physical expansion. Mutual funds supplied Rs 200 crore of the increase, while PMS AUM rose Rs 35 crore, AIF AUM rose Rs 6 crore, four offices were added and reported team strength increased by 13 people.

The next disclosed items to watch are fundraising for the India Equity Opportunities Fund, where interest or commitments exceed Rs 170 crore against a Rs 750 crore to Rs 800 crore target, and progress at the India SME Growth Fund's three DRHP-filing portfolio companies. Subsequent AUM disclosures can also show the effect of the newly deployed M2B and EIS PMS tranches and the SEBI-approved Category III fund.