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Wealth First Portfolio Managers Ltd.

BSE: 532269 Sector: Financials
NSE: WEALTH ISIN Code: INE658T01017
BSE 05:30 | 01 Jan Wealth First Portfolio Managers Ltd
NSE 10:23 | 04 Oct 260.05 -9.25
(-3.43%)
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Wealth First Portfolio Managers Ltd. (WEALTH) - Chairman Speech

Company chairman speech

Because today our safety has come after a huge cost trust you and your loved onesare safe and well.of lives and livelihoods. Despite these colossal losses IIbelieve India's _ghtback against this pandemic has been truly remarkable. This resiliencehas _rmly placed India back on its journey to prosperity which brightens the prospects ofIndia Inc. And us.

But before I throw light on what lies ahead I would take a step back into whattranspired in FY21. FY21 as we all know pushed India into the abyss of uncertainty.Turmoil and fear prevailed because we were up against an invisible enemy. We had no ideaof its potency or capability. We were completely defenseless. Like our clients we werealso holed into our homes.

But work had to continue. Because the _nancial markets the banking system and allother investment markets were alive. People had signi_cantly more time to look at theirportfolio. They had more concerns. Because their wealth was eroding; even long-terminvestments had halved - which became di_cult to stomach. During bad times clients alwayslooks for a safety net. In such trying times we remained awake and agile. This wasprimarily owing to our proactive investment in technology which allowed us to operateseamlessly from anywhere.

The _rst couple of months were considerably tough.

The Wealth First team was busier than it had ever been before. We connected with allour clients. We handheld them. Reassured them that this phase was only an aberration andit would pass. Answered every query with quiet con_dence. This e_ort of the team has gonea long way in cementing the Wealth First brand in the minds of our client as a dependablepartner. Adversity I believe always presents opportunities. And it did. It was agoldilocks scenario - bond yields reduced while returns from equity surged.

In the debt and equity spaces. Our team was quick on the uptake owing to theiralertness in comprehending early signals accurately. We advised all our clients onreadjusting their portfolio to maximise the bene_t from emerging opportunities. Those whodid received handsome returns that provided something to cheer about in an otherwise dullecosystem. Their portfolios climbed to newer heights than ever before. For us it was thebest year. We registered a stellar performance with our topline growing by 145.81% overthe previous year and the bottomline scaling by 889.24%. This performance is squarelyowing to the e_orts of our team as they worked tirelessly in maximising returns for ourclients. While I am certain that performance benchmarks will continue to get better as weprogress forward FY21 holds a special signi_cance in our journey. We advanced from NSE'sSME board to its Main Board. This means that the Wealth First equity can be traded on theNSE like any other stock. This means more liquidity and more shareholders which I reckonwould lead to shareholder wealth creation. It's a big deal for all of us. It has happenedbecause we have zealously stuck to our processes we have the courage to use our knowledgefor the bene_t of our clients we always keep our investment ideas simple for a layman tocomprehend (after all its his money).

What's in store

The start of FY22 has been an even more challenging start owing to the aggressive andfatal second wave as I mentioned earlier. But India has successfully _attened the curvein a shorter time span.

The second wave has hit the investing community hard. This is because having dippedinto their savings to overcome the _rst wave they had just about started to rebuild theirportfolio when the second wave struck. Hence their investible surplus has reducedconsiderably. What does it mean for us? It means that the saving propensity will increaseas the average Indian will work overtime to rebuild what he has lost even as the fear ofthe third wave looms large. Portfolio managers across the country will need to workovertime to make this happen for the investing community.

The Wealth First team will need to continue what it has been doing all these years -unearthing gems from the clutter of investment options to enable its clients to earnsuperior returns. Over the medium-term I am convinced that the India story will onlystrengthen. India post the pandemic will gain increased global spotlight - as a reliablebusiness partner and an investment destination. When this happens it will open innumerableopportunity windows for us. The journey ahead of us is riveting to say the least. As weendeavour towards getting better every day I take the opportunity to thank the Board toguide us in framing our long-term strategy. I thank our clients on trusting us with theirhard earned savings time and time again. I thank the entire Wealth First team for theirunwavering dedication to bring the Company to where it is today. I also thank Governmentagencies and _nancial institutions in supporting us in our journey.

And last but most importantly I thank our shareholders in believing in our story andplacing your con_dence in our word. I continue to solicit your support.

Warm regards Ashish Shah

 

A fellow shareholder

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