It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
The rise in the toasted category of high networth individuals in the country is getting affected in the 'high inflation, slow growth' scenario being witnessed at present, a top official of Merrill Lynch Wealth Management said in Mumbai on Thursday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
Many investors, who have made money in the rising market of the recent past, are pulling out of equity funds, believing that they can earn more by investing directly.
The growth of ultra high net worth households (UHNHs) slowed down in 2015-16, growing at seven per cent.
The Financial Stability and Development Council had earlier mandated RBI and the Securities and Exchange Board of India to undertake a review of the existing practices followed by banks and brokerage houses in offering wealth management services.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
'Do some profit booking and bring your equity allocation back to its original level.'
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
India's industrial production grew by 1 per cent in December, official data showed on Friday. According to the Index of Industrial Production (IIP) data, the manufacturing sector output grew by 1.6 per cent in December 2020.
Retail investors may safely invest in shorter-duration funds, suggests Sanjay Kumar Singh.
The most essential and necessary things should be on top of the list and others which we can do without should be avoided, says Nandini Anandkumar.
Tax experts G Srikanth and Anil Rego will answer all your tax queries in two different chats between 1 pm and 4 pm on Monday, February 3.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Bear in mind that the amount you get paid depends on the stage at which cancer is detected, reveals Sanjay Kumar Singh.
...Are algos taking over from 'shoeshine and a smile', asks Ajit Balakrishnan.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
'There is a weak link between the economy and the stock market.'
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The total household wealth in India during this period rose 1.7 per cent to $246 billion.
Physical advisors have been receiving tough competition from algorithm-based investment counselling and robo-advisories.
Anil Rego, CEO of RightHorizons, will answer your financial planning queries.
44% of HNHs are in emerging cities and small towns.
Infosys was the top gainer in the Sensex pack, rallying around 7 per cent, followed by TCS, IndusInd Bank, ONGC, HDFC Bank and HCL Tech. On the other hand, ITC, Bajaj Finance, Kotak Bank and Sun Pharma finished in the red.
Citing the impact of the second wave of the pandemic over the economy and consumer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP growth forecast by 150-300 bps to 13-14 per cent, but expects a stronger recovery in the second half as it sees the lockdowns having limited impact on tax collections. Last month, Neelkanth Mishra, the co-head of equity strategy for Credit Suisse Asia Pacific, and India equity strategist, had told PTI that he expected the real GDP to fall to 8.5-9 per cent in FY22 due to the more severe pandemic attack. The virus case load has crossed the 25-million mark, death toll from the same is nearing 2.9 lakh mark, which is one of the highest in the world as the test positivity rate has been around 15 per cent for long.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 on the back of smart returns in the stock market which had a roller-coaster ride during the year hit by the coronavirus pandemic. The COVID-19 outbreak ravaged lives and livelihoods on a global scale, shuttering businesses and jolting world equities. But amid all the gloom, Indian stock indices gave hope of returning to winning ways towards the latter part of the year.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
Two India-origin individuals -- Sandeep Malhotra and Sanjee Shah -- have found a place in the league of 40 rising stars in the European wealth management industry.
Various online platforms let you invest in direct mutual funds.
The group had earmarked $400-million to fund its expansion in the private banking business globally, two years back. The group has already hired 57 professionals for its Indian operations and plans to enhance the staff strength to nearly 100 within the next six months.
The recent NSEL crisis has prompted even rich and diehard equity investors to shift to safer fixed income products.
Sanjay B Jumaani, India's leading astro-numerologist, makes his predictions.
The Hinduja Group plans to enter the financial services space in India with a bang. Apart from plans to set up life insurance, non-life insurance and asset management companies, the group is also working towards areas such as wealth management, broking and portfolio management services. The group has finalised its partners for setting up a holding company, which will have three business arms offering wealth management, broking and portfolio management services.
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