Page 5 - Asset Management

Kotak Alternate Asset Managers raises Rs 2,000 cr to invest in equities

The fund aims to solve the challenge of building and maintaining equity portfolios amid the difficulties faced by investors due to the market volatalities

Blackstone plans to invest $25 billion in India private equity asset

The New York-based firm also intends to bring on 20 more investment professionals to its asset management business in India and double its office space in Nariman Point in downtown Mumbai

Ombudsman system, sustainable clothing: Top personal finance stories

Our top stories this week explain how financial institutions are supposed to solve customers' complaints and what to wear in summer

Top Indian asset manager stress tests show delays in exiting small caps

A delay in exiting holdings of such stocks could defer the return of funds to investors, who expect to receive their money back within two to three days, as per current industry practice

Morgan Stanley cuts 9% of China fund unit staff amid market rout: Report

This would be the first time Morgan Stanley has cut staff at the China fund unit since it bought out its local partner's 36% stake in the loss-making business for about $54 million in 2023

CAMS Q3 results: Net profit rises 21% to Rs 89 cr, revenue up 19%

Computer Age Management Services Ltd (CAMS), registrar and transfer agent of mutual funds, on Tuesday reported 21 per cent growth in net profit at Rs 89.29 crore for three months ended December 2023. The company had logged a net profit of Rs 73.72 crore in the same quarter of preceding financial year (FY23), CAMS said in a statement. Revenue in the quarter under review rose 19 per cent to Rs 289.68 crore, as against Rs 243.57 crore in the year-ago period. "Revenue growth at 19 per cent and PAT (profit after tax) growth at 21 per cent year-on-year is the culmination of robust performance across our revenue streams. Mutual funds asset growth trajectory took the overall asset base we service to historic high of Rs 34 lakh crore," company's managing director Anuj Kumar said. CAMS is a financial infrastructure and service partner to the asset management industry and offers platform-based services to the Banking, Financial Services and Insurance (BFSI) segment. With a market share of ov

FY24 asset monetisation falls short of target at Rs 1.50 trn: Official

The central government and Central Public Sector Enterprises are estimated to monetise assets worth Rs 1.50 lakh crore in the current fiscal, a tad lower than the targeted of Rs 1.75 lakh crore, a senior official said. Under the National Monetisation Pipeline, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been estimated at Rs 6 lakh crore over a four-year period, from FY 2022 to FY 2025. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said about Rs 1.75 lakh crore was the target for asset monetization this year and "we are going to achieve something like Rs 1.50 lakh crore through monetisation". Pandey said monetisation is going on through infrastructure investment trust (InvITs), Toll Operate Transfer (TOT) in mining, road and power sector and is beginning to happen in the petroleum sector. "The asset monetisation proceeds do not visibly appear in the ..

Brookfield planning $1.2 billion of debt to buy India assets: Reports

Investment firm Brookfield is betting on growth in India, whose economy is outpacing that of other large countries and where smartphone usage is increasing rapidly

Fund houses on Sebi's radar for sops to mutual fund distributors

Amfi writes to AMCs for second time in 10 months, asks them to withdraw such programmes

Nuvama Asset Management, Cushman & Wakefield plan commercial realty fund

The fund will eye opportunities in Grade A+ office space across micro markets in the top 6 cities of Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad

Investment funds managers face tougher rules on investor cash calls

Global regulators published tougher rules for managers of open-ended investment funds to ensure they can meet investor cash calls in a crisis without need for emergency liquidity from central banks

AMCs get a revenue boost from strong retail inflows via mutual funds

Assuming 10% incremental annual inflows and market appreciation of 5-7%, AUM could continue to grow 15% in the medium term

UTI AMC Q2 results: PAT declines 8% to Rs 183 crore, revenue falls 7%

UTI Asset Management Company on Wednesday reported an 8 per cent decline in profit after tax to Rs 183 crore in the September quarter. It had posted a profit after tax of Rs 200 crore in the same quarter of the preceding fiscal, according to a regulatory filing. The company's total revenue from operations dropped 7 per cent to Rs 404 crore during the quarter under review. In the year-ago period, the same was at Rs 435 crore. For the quarter ended September 30, 2023, UTI Mutual Fund's average assets under management stood at Rs 2.67 lakh crore and it had a market share of 5.68 per cent. Imtaiyazur Rahman, Chief Executive Officer of UTI AMC, said the Indian mutual fund industry has constantly worked towards building financial literacy in the country for creating awareness about various products and in enabling investors to make informed investment decisions. "With our growing geographical and digital reach in the country and our expertise in investment management combined with a lar

See greater comfort in largecaps compared to small and midcaps: UTI AMC CIO

Subramaniam says pharmaceutical and healthcare sectors are reasonably valued and are showing incremental improvements in their balance sheets

Review of Resource Management Group issue completed, action taken: TCS

TCS stated that of the 19 employees, 16 have been separated from the company for code of conduct violations

Balanced hybrid funds: Mitigate risks and earn stable investment returns

Remember these funds have a limited track record currently; they will also not receive equity tax treatment

PGIM India forays into Rs 8-trn AIF space with Category III fund launch

Fund to focus on multi-year growth trends, identifies discretionary consumption, manufacturing as top themes

Sebi empanels 34 entities for forensic investigation of MFs, AMCs, trustees

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives. Also, they need to prepare and submit a report mentioning the findings and conclusions of the analysis. In ...

AMC TPG will invest Rs 2,788 crore in data management company Denodo

Asset management company TPG has committed an investment of USD 336 million (Rs 2,788 crore) in data management firm Denodo, the two companies said on Thursday. The fresh investment by TPG will lead to sale of shares by Denodo's existing investor HGGC. The transaction is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo's Series A investment round in 2017, will remain a significant investor, the companies said in a statement. TPG Partner Mike Zappert said, "With a market-leading net promoter score of over 50, the company has built a notable roster of marquee, global customers including TPG, and we see a tremendous opportunity to accelerate Denodo's expansion going forward." Denodo CEO and founder Angel Via said, "We look forward to leveraging TPG's deep experience to continue the rapid expansion of our global market share. We are equally thrilled that HGGC will remain an important investor in Denodo and are thankful for thei

AUM of NPS, APY crosses Rs 10 trillion: PFRDA chairman Deepak Mohanty

PFRDA plans to come out with a systematic withdrawal plan