Yield compression from passive mix shift
Increasing share of passive AUM could compress blended yields, though management expects impact to be muted.
COMPUTERAGEMANAGEMENT / bear-case history
Track the concerns that keep returning.
Computer Age Management · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Potential AMC renegotiations on RTA fees
AMCs facing 3-5 bps impact from new regulations may seek to pass on costs to RTAs, though management sees limited risk.
KYC price down impact on revenue
A 20% industry-wide KYC price cut effective April 1 could reduce K revenue by ~8 Cr, partially offset by growth.
One KYC regulation could disrupt K business
If CKYC subsumes KYC, the K business model may face structural changes, though management sees it as a gradual process.