The stock had declined 4.30% in the past four sessions to end at Rs 2,035.05 yesterday, from its recent closing high of Rs 2,126.60 recorded on 18 April 2023.

In the past six months, the scrip has lost 23.17% while the benchmark Sensex has gained 0.88% during the same period.

In an exchange filing made after trading hours on Monday, Computer Age Management Services said that CAMS WealthServ has signed on 75 alternative investment funds (AIF) & portfolio management services (PMS) enterprises to provide smooth digital experience for high net-worth customers.

CAMS WealthServ is an intuitive digital interface that enables ‘first-time-right' investor application process. The platform is designed to ease and expedite onboarding of HNI clientele. Opening accounts for AIF and PMS investors and executing transactions are typically time intensive and iterative processes, often extending to several days. With WealthServ, on-boarding process to account activation is done within a few hours.

Anuj Kumar, managing director, CAMS, said, “AIF industry has grown exponentially and is expected to continue the growth momentum due to superior returns and declining attractiveness of hard assets.

With an enabling regulatory framework, the industry is expected to grow at a CAGR of 25% over the next 5 years. As the leading platform and services partner to this segment, we are constantly looking to deliver technology-led transformation to ease both customer experience and business processes.

Over 75 enterprises including some very large AIFs have readily adopted this new capability considering the immense benefits and ease of onboarding with the digital option WealthServ when compared to the traditional, paper intensive ways of serving high net-worth clients.

Computer Age Management Services (CAMS) is a financial infrastructure and service provider to mutual funds and provides platform-based services to other financial institutions. The company is India's largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 69% based on mutual fund average assets under management (AAUM).

The company's consolidated net profit fell 4.6% to Rs 73.72 crore despite of 2.5% rise in net sales to Rs 243.57 crore in Q3 FY23 over Q3 FY22.