Market Outlook
Is its category moving in its favor or against it?
The outlook for India's wealth management category is favorable for 360 ONE Wealth because the market is forecast to grow from USD 154.25 billion in 2024 to USD 286.91 billion by 2030 at a 10.96% compound annual rate, rising individual wealth is linked to greater demand for expert wealth-management services, and the firm serves entrepreneurs, family offices, professionals and public figures across the full wealth lifecycle from wealth creation to intergenerational wealth transfer.
In 2025, India had a total of 8.71 lakh millionaire households, up by 90% from 2021.
Memo
What is the investment case, and what must be true for it to hold?
360 ONE WAM can continue growing recurring revenue because ARR revenue reached Rs 1,701 crore, an increase of 28.2% year over year, provided retention stabilizes. The key threats to that condition are declining ARR retention, which fell from 0.83% in FY21 to 0.78% in FY24, and market-sensitive flows, since sector net flow depends largely on market sentiment and recent market performance.
360 ONE Wealth serves entrepreneurs, family offices, professionals, and public figures throughout the wealth lifecycle, spanning wealth creation through intergenerational wealth transfer.
Risk Factors
Which risks could break the thesis, and what would warn of them?
Recurring-revenue yield pressure could weaken 360 One Wam's earnings durability: regulatory changes involving mutual-fund Total Expense Ratio and trail-based commissions for PMS and AIFs create pressure on yields from recurring assets while 360 ONE Wealth's ARR retention declined from 0.83% in FY21 to 0.78% in FY24, and market-sensitive net flows create a separate exposure to weak market performance.
Net flow in India's wealth management sector depends largely on market sentiment and recent market performance.
Product Overview
What does the product do for its buyer, and how is it delivered?
360 ONE Wealth provides portfolio management and advice through discretionary, non-discretionary and advisory propositions. Its 360 One Plus line delivers these as direct equity holdings, managed solutions built from mutual funds and exchange-traded funds, and bespoke portfolios customized to acceptable instruments and chosen investment approaches.
Beyond portfolio management, 360 ONE offers lending solutions that meet clients' short-term capital requirements.