The website of Nippon Life India Asset Management Ltd, India’s largest mutual fund by number of investors, has been down since a cyberattack hit the company’s IT infrastructure on 9 April. When Mint visited the website on 17 April, the home page was accessible but the login page was not.
The company wrote in an exchange filing on 10 April, “There has been an incident involving a cyber attack on our IT infrastructure late last night. Immediately upon becoming aware of the incident, we have taken the necessary steps to investigate and respond to the incident, including shutting down affected systems.”
It added, “We are working with leading cybersecurity experts to support our investigation and identify the extent of the issue and take remedial action as necessary.”
“We are surprised that it’s been like this for almost a week now,” said Amol Joshi, a mutual fund distributor. “Typically, routine maintenance would happen at midnight.”
He added that emails from the AMC containing addendums have had PDFs attachments since the incident. Previously, the contained a link to the addendum or notice on the company’s website.
Mint could not verify whether any customer data had been compromised in the cyberattack. The article will be updated when Nippon Life replies to our queries.
On Thursday, Nippon Life India Asset Management stock gained 3% to close at ₹598. It’s up 5.5% since 11 April, the day after the cyber attack.
What should investors do?
If you invest directly through Nippon’s website, you won’t be able to log in to your account for now. You can access your funds through the MFU platform or by logging in to Kfintech. For MFU, you need to first open an account and get your ‘common account number’.
If you invest in the AMC’s funds using third-party apps such as Zerodha or Groww , or RTA platforms, you can continue to transact through those apps.
