Asset Management:For 3QFY20, monthly SIP inflows averaged at ~Rs 83.5bn aggregating to Rs 250.4bn (+4.4/0.9% YoY/QoQ), while lump-sum outflows increased substantially to ~Rs 224bn (1HFY20: Rs 189bn). For 3QFY20 total equity inflows (ex. arbitrage and ETF) were only Rs 26bn (-90.8%/-88.2% YoY/QoQ). Broking:Total market ADTV (ex-prop) for 3QFY20, continued to grow at a healthy pace of 45.1/(0.1)% YoY/QoQ; cash ADTV (higher yielding) growth improved 7.6/5.4% vs. 46.5/(0.3)% YoY/QoQ for derivatives. Consequentially derivative : Cash mix moved remained stable at 2.9:97.1%. Life Insurance: Growth in pvt. indiv. APE continues at a steady 15.6% YoY in Oct/Nov-19, compared to 16.0% YoY in 1HFY20. The high base set after strong growth of 22.8% CAGR during FY17-19, slowing sales of NPAR products (compared to 2QFY20), and a slowing economy may mean slightly lower growth for the sector in 4QFY20. General Insurance While total industry GDPI growth in Oct-Nov-19 is 13.6% YoY, pvt. multi-line insurers have grown at 16.1% YoY. Public insurers on the other hand have grown only ~4.3% YoY.