Corporate Structure

A legacy of excellence

At the heart of CAMS’ legacy of excellence is its thought leadership, by the first generation founder Mr. V. Shankar in the first 2 decades and the professional management team who imbibed it thereafter. This legacy of excellence was demonstrated with its first customer in the MF industry, back in 1995. Alliance Capital was a fund sponsored by Alliance Capital Management of Delaware, USA, whose Indian JV was registered with SEBI in 1994. CAMS’ relationships with merchant bankers and lead managers enabled it to advise Alliance on banks they could work with, and also taught them some cost-saving techniques. This paved the way for CAMS’ entry into Mutual Fund servicing in 1996, when SEBI came out with the guidelines that still govern Mutual Funds.

Even though MFs were then relatively new to the Indian customers, we decided that this would be the industry of the future and took a big leap of faith. At CAMS, we had already developed software for MF operations even before we bagged our first customer in 1995. A superior product that was far ahead of its times in many ways, the software impressed Alliance Capital, which eventually partnered with CAMS to further enhance its features. What emerged was the highly innovative ‘Investrak’, which proved a game-changer for asset management companies.

The investment made by HDFC Group in CAMS in year 2000 gave strategic impetus to the Company. It was a win-win – HDFC Group made a good investment, and with this association, CAMS went on to bag several clients. With the MF industry beginning to consolidate by the late 2000s, CAMS emerged as a leader in MF industry technology – a position it has retained through the years.

Our Values

The subsequent boom in the industry saw more and more MFs engaging CAMS as their RTA, which also coincided with change in ownership pattern at CAMS and induction of professional management team, bringing an Institutional overlay to the Company and strengthening governance and oversight in operations.

With the nature of our services to Mutual Funds spanning multiple facets of their relationship with their investors, distributors and regulators and by providing a range of services, we began playing an important role in developing and maintaining our clients’ market perception. With our growth predicated on our clients’ growth, we engaged as a strategic partner rather than a service provider and developed a unique value delivery model that catalysed clients’ growth helping us to maintain a steady uptrend in our market share

Many of our investor and intermediary services are offered online, through mobile apps and chatbot.

Committed to prudent business expansion

Over the years, we have leveraged our domain expertise, processes and infrastructure to diversify our offering of services to cater to a variety of other financial services sectors.

Our range of quality products and services spans six business verticals:

Mutual Funds
Electronic Payment Collection Services
Insurance Repository and Services
Alternative Investment Funds & Portfolio Management Services
KYC Registration Agency
Software Solutions

We have recently forayed into other regulated financial infrastructure arena and have secured licence to launch Account Aggregator services and Central Record Keeping Agency for NPS.

Our product portfolio has expanded to offer digital lien services for Banks and lending companies and Recon DynamiX , a specialist reconciliation solution for medium and large enterprises managing large scale transaction volume present exciting opportunities for growth.

Building on Robust Infrastructure

Our robust, pan-India infrastructure powers our competitive edge in the growing MF market. Our service centres, spread across the country, are connected in the real-time to our central data centre. These are supported by our back offices, in Chennai and Coimbatore, including a central distributor helpdesk, which acts as a single point of contact for distributors. Our disaster recovery site in Mumbai is designed to ensure business continuity across all our critical functions in the event of a disaster. The real-time connectivity of all our locations ensures continuous availability, as well as data replication and redundancy. We also have call-centres in Mumbai, New Delhi, Chennai and Kolkata. As at the end of May 2021, we have an aggregate of over 379 TB of data storage in our businesses.

Raising the service standard bar

As part of continuous improvement, CAMS has made substantial efforts in enhancing overall quality performance and delivers accuracy levels of 99.98% in financial transaction processing with residual error Parts Per Million (“PPM”) at 213. The low error PPM is consistently achieved despite increasing complexities in the processes led by various regulatory & product-related changes, fluctuating transaction volumes, stringent timelines for deliverables and heightened investor demands.

With an unwavering aim to deliver unmatched quality and first time right outcomes to investors and distributors, our drive to reduce SEBI complaints has delivered historically the lowest (and best) numbers (measured both as absolute complaints and complaints as a % of transactions). Interventions via training, automation and process improvements have enabled us to reduce SEBI complaints across funds serviced by us. Currently, at aggregate levels, complaints to transaction ratio stands at a historical low of 0.004%.

The Company has grown its market share from approximately 61% in March 2015 to approximately 69% in March 2021, based on AAuM serviced.

22.0 trillion

CAMS Serviced AuM(as on March 31, 2021)

323.4 million

Transaction Volumes(During FY 2020-21)

21.5 million

SIP Book(as on March 31, 2021)

237.1 million

SIP Transactions(During FY 2020-21)

The mature core back office platform, Investrak, along with many other industry-first technology-led initiatives launched by CAMS, has given the Company a strong leadership edge, which it continues to strengthen year-on-year.

16.6 million

Unique Investors Serviced(as on March 31, 2021)

40.4 million

Live Investor Folios(as on March 31, 2021)

A glance at our key business segments

Mutual Funds Services Business

Armed with high-end technology-platform, we provide services to Mutual Funds through the life cycle of an account - from account creation, to processing transactions and redemption of the amount invested.

With the initiative of creating an end-to-end value chain of services, we have grown our service offerings and currently provide a comprehensive portfolio of technology-based services, such as transaction origination interface, transaction execution, payment, settlement and reconciliation, dividend processing, investor interface, record keeping, report generation, intermediary empanelment and brokerage computation and compliance-related services, to our Mutual Fund clients, their distributors and investors.

16

At an aggregate level, we serve >72 million accounts

To enhance the services we offer our distributors, we recently launched a mobile application edge360, loaded with features that enable them to service their investors more efficiently.

Investor satisfaction survey

As part of compliance to SEBI mandated QRTA (Qualified RTA) guidelines, we have initiated – over the past three years – an investor satisfaction survey on our website, myCAMS and through our front offices to evaluate experience of investors at various touchpoints of CAMS. In the latest survey concluded in March 2021, 95.3% of respondents gave thumbs-up to CAMS services.

Diversifying our Service Portfolio

Leveraging our domain expertise, processes and infrastructure, we have, over the years, diversified our service offering to cater to a variety of other financial services sectors.

Alternative Investment Fund Service & Portfolio Management Services

We provide services to investors, manage records and perform fund accounting and reporting, among other services, for alternative investment and other types of funds

Electronic Payment Collection

We manage mandated transactions, including registering of mandates, initiation of collections, reconciliation and the related reporting services for Mutual Funds, non-banking finance companies. Expanded service suite offering UPI, UPI AutoPay, and net banking

Insurance Repository & Services (through our subsidiary, CAMS Insurance Repository Services Limited)

We offer processing of new business applications, holding policies in dematerialised form, servicing policies and other support functions to insurance companies

KYC Registration Agency (through our subsidiary, CAMS Investor Services Private Limited)

We verify and maintain KYC records of investors for use by financial institutions

Software Solutions (through our subsidiary, Sterling Software Private Limited)

Our technology team develops software for our Mutual Funds services business and for Mutual Fund companies, minimising client investment in technology applications

Account Aggregator Services (through our subsidiary, CAMS Financial Information Services Private Limited)

We will be providing Account Aggregator Services to Banking and Non-Banking Financial Institutions, Investment Advisors amongst others