Page 3 - Asset Management

Prudential Plc mulls listing of ICICI Prudential Asset Management Company

Through the IPO, the London-headquartered financial major plans to divest some of its 49 per cent stake. Shares of Prudential rallied over 6 per cent after the announcement on London Stock Exchange

K Balasubramanian to succeed Ashu Khullar as India head for Citibank

Balasubramanian, a seasoned banker, has worked in multiple markets, covering clients across major industries and geographies in India

Multiples PE buys minority stake for $35 mn in logistics firm INSTANT-XP

NSTANT-XP, founded by brothers Rajbir Singh and Jasveer Singh, leverages proprietary technology to streamline services for customers, consignors, truckers, and drivers

Hotel asset management companies make room for international brands

An analyst said that in the last two-three years, there have been a lot of other hotel companies that are desperate to enter the Indian market with a branding sign

Asset manager Amundi targets India debt with two recent fund launches

To add to the dollar-denominated exchange-traded fund (ETF) launched in September, the fund house launched the rupee-denominated India Bond Fund earlier this month

80% investors raised passive allocation in last one year, says survey

Among passive fund categories, sectoral funds are the top choice, according to the surveyed investors

BS BFSI Summit: Why go to Mauritius, come to GIFT City, say fund managers

BS BFSI Summit: As GIFT City gains traction, panellists agreed it is well-positioned to become a key player in international finance, transforming India's role in the global financial landscape

Macquarie Asset to invest billions in India's energy, real estate sectors

Since 2009, global asset management firm Macquarie has invested $3.5 billion in various projects in India and looking to expand its presence

Dubai, Abu Dhabi race to lure world's asset managers, billionaires

Emergence of companies in a range of new sectors and potential for business created by Abu Dhabi's investments have not gone unnoticed in the international financial community

Seven & i to start majority stake sale in supermarkets by year-end: Nikkei

Seven & i has been under pressure from investor ValueAct Capital in recent years to improve its asset allocation and has sold down stakes in other lower-performing assets

AMC scrips rally on new asset class; Nippon Life India up 5.2% on BSE

Aditya Birla Sun Life ends trading day 4.4% higher

Global financial services firm Waystone opens its first India office

Plans to employ over 200 people in Mumbai by the first half of 2025

Neo Group raises $47.6 million led by MUFG Bank, Euclidean Capital

The capital raised will be used to expand the company's wealth management division and support its asset management business

SBI pushes into wealth management with vigour as wealthy people surge

SBI will face competition from global players like HSBC Holdings Plc and Barclays Plc, and local veterans like 360 One WAM Ltd

Bajaj Finserv AMC launches fund 'focused on' 25-30 largecap stocks

Bajaj Finserv Large Cap Fund will have a concentrated portfolio with a 'high conviction' stock selection approach

Secure your digital legacy: Steps for inheriting online assets

You should start to think beyond physical assets and consider the full scope of your digital footprint when planning for the future

Asset manager BlackRock to buy UK data firm Preqin for $3.2 bn in cash

BlackRock, which manages more than $10 trillion, is seeking to capitalise on a boom in demand from investors for alternative assets

Goldman Sachs aims to double lending to wealthy private bank clients

Goldman's total deposits jumped to $441 billion in the first quarter, with over 39 per cent coming from consumer accounts, versus $190 billion in total deposits at the end of 2019

Nomura gives 150% salary hike to its top executives as earnings boom

The moves come after the Japanese firm spent several years improving risk controls after losing almost $3 billion in 2021 on the collapse of investment firm Archegos Capital Management

PGIM India Asset Management aims to double AUM to Rs 50,000 cr in 2-3 yrs

PGIM India Asset Management aims to more than double its assets under management to Rs 50,000 crore within the next 2-3 years, which will be driven by efforts to complete the product basket coupled the strong focus on SIP, its top official said on Monday. The asset management firm, which forayed into the Alternative Investment Fund (AIF) space in October 2023, is also looking to complete its product basket with the launch of new schemes including a special opportunities fund. The fund house, which has an Asset Under Management (AUM) of Rs 23,240 crore at present, expects to touch Rs 50,000 crore mark AUM in the next 2-3 years, Abhishek Tiwari, Chief Business Officer of PGIM India Asset Management, told PTI here. "Factors that will drive the growth of PGIM India Asset Management are -- the organic growth of the asset management industry in India and our focus on completing our product basket along with the continued focus on SIP which is a very healthy part of our business growth," h