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Tuesday, April 20, 2021

Equity Mutual Fund: HDFC MF , Axis MF and ICICI Prudential MF - top 3 Companies

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Equity Mutual Fund: HDFC MF , Axis  MF and ICICI Prudential MF  - top 3 Companies

HDFC MF, Axis MF and ICICI Prudential MF were the top 3 fund houses in terms of equity average assets under Management (AUM) as on March 2021, shows an analysis of quarterly average AUM of all fund houses. Equity average AUM includes pure equity schemes and ELSS.


HDFC MF topped the list of fund houses having the highest equity assets. The fund house average was Rs.99205 crore as on March 2021, Axis MF and ICICI MF followed HDFC MF with average AUM of Rs.97,336 crore and Rs.95,731 crore, respectively.

Further, analysis of the top 30 AMCs shows that the top 5 fund houses accounted for an average AUM of Rs.4.65 lakh crore, which is 46% of the total equity average AUM.

Next in the list was SBI MF with equity average AUM of Rs.93,420 crore followed by Aditya Birla Sun Life (ABSL) MF and Nippon India MF with assets of Rs.80,152 crore and Rs.72,102 crore, respecvely.

Kotak MF, Mirae Asset MF,  UTI MF and Franklin Templeton MF were other AMCs in the top 10 AMCs list of highest equity AAUM.

Overall, the top 30 AMCs manage around Rs.10 lakh crore of AAUM.

Equity AAUM of top 30 fund houses  2021 March End  


Growth / Equity Oriented Schemes  Rs crores

ELSS Funds - Rs crores

Total Equity

Rs crores

HDFC MF

89,868.51

9,337.47

99,205.98

Axis MF

69,618.24

27,718.48

97,336.72

ICICI Prudential MF

87,465.69

8,265.32

95,731.01

SBI MF

83,162.23

10,258.60

93,420.84

Aditya Birla Sun Life MF

66,134.27

14,018.00

80,152.27

Nippon

60980.0275

11,122.74

72,102.77

Kotak

61,490.06

1,667.67

63,157.72

Mirae Asset MF

50,743.01

6,255.02

56,998.03

UTI MF

45,747.38

5,002.67

50,750.05

Franklin Templeton

43,409.80

4,412.15

47,821.95

DSP MF

35,654.13

7,857.76

43,511.89

L&T MF

26,747.22

3,464.88

30,212.10

IDFC MF

14,597.78

14,597.78

29,195.57

Tata MF

18,601.46

2,627.33

21,228.79

Sundaram MF

18,309.76

2,715.87

21,025.63

Motilal Oswal MF

16,118.15

2,014.69

18,132.84

Invesco MF

15,189.69

1,467.30

16,656.99

Canara Robeco MF

14,468.42

1,710.03

16,178.44

PPFAS MF

7,364.83

132.38

7497.2082

Principal MF

4,954.40

803.13

5,757.53

Edelweiss MF

3,900.03

159.75

4,059.78

BNP Paribas MF

3,283.27

501.98

3,785.24

Baroda MF

3,113.41

196.29

3,309.71

HSBC MF

3,116.83

170.87

3,287.70

LIC MF

1,948.73

680.73

2,629.46

PGIM India MF

1,820.35

357.63

2,177.98

Union MF

1,772.24

330.57

2,102.81

IDBI MF

1,554.04

523.42

2,077.46

Mahindra Manulife MF

1,700.08

339.72

2,039.80

JM Financial MF

451.85

51.34

503.19

Monday, April 19, 2021

LIC: Insurance Policy Death claims rose 17% to 8,16,650 in first 9 months of 2020-21

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LIC: Insurance Policy Death claims rose 17%  to 8,16,650 in first 9 months of  2020-21

Death claims made on state-run Life Insurance Corporation of India (LIC) crossed the 8-lakh mark between April and December 2020, reversing the decline in their numbers over the previous three years.

As many as 8,16,650 death claims were made on LIC in April-December 2020, up 17.11% from the 6,97,314 claims in the corresponding period of 2019.

It was not specified how many of these death claims related to Covid-19.

In the nine months of 2020-21, LIC settled 8,08,575 death claims and paid Rs. 16,945.96 crore.



The data indicate that the number of death claims made rose sharply in the October-December period. Between April and June, as many as 1,68,300 death claims were made and they increased to 4,50,850 in the six months between April and September 2020.

Insurers have pointed out that the nationwide lockdown in the first quarter of last year had delayed filing of claims.

The surge in death claims in 2020 came after a decline in the previous years from 2017. The death claims made on LIC dropped from 7,57,460 in April-December 2017 to 7,15,390 in the same period of 2018.

The data must be seen in the context of the fact that though India was among countries earliest to report Covid, its death rate due to the infection has not been very high.

Sunday, April 18, 2021

Nippon India Mutual Fund to offer Taiwan’s Cathay Site MF’s products in India

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Nippon India Mutual Fund to offer Taiwan’s Cathay Site MF’s products in India

Nippon India Mutual Fund (MF) has entered into an agreement with Taiwan based asset manager Cathay Site to distribute each other’s product in their respective markets. 

With this, Nippon India MF & Cathay Site will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing & distributing each other’s investment products in India and Taiwan.

Both companies will seek to develop and explore business opportunities in active and passive strategies and leveraging upon their distribution reach in India and Taiwan, said the company press release. 



Nippon India MF’s ED and CEO, Mr. Sundeep Sikka, said, “Cathay’s reach and breadth of products offerings will enable Indian investors to have much needed diversification out of their local market by providing access to a sophisticated, technology heavy market. This exclusive partnership would enable Indian investors to partake of a unique high technology, high growth market and diversify the basket of products available, which they can choose from as per their investment appetite”

Cathay SITE manages AUM of about $26.76 billion. 

 

What is Penthouse apartment?

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Simply said a special apartment on the top floor of a building is called is Penthouse. Penthouses are typically differentiated from other apartments by luxury features.

Due to the high cost of a penthouse apartment, most real estate agents and rental agencies will not even show a penthouse until a customer has produced proof that he or she can pay.



This is designed to cut down on the number of gawkers traipsing through a penthouse when it enters the market, and to avoid the tremendous waste of time involved in working with clients who cannot actually afford a penthouse.

Typically, these apartments are handled by specialists who work exclusively with high end real estate.

First penthouse

The idea of a penthouse apartment was born in the 1920s, called “The Roaring Twenties”, when economic growth brought a construction boom to New York City, the heart of the American economy.

The high demand for living in urban areas and the wealth of Americans led to luxury apartments on the top floor or floors of a building.

One of the earliest penthouse apartments in the city was publisher Conde Nast’s duplex penthouse at 1040 Park Avenue.

The original 1923 plan for the building provided three units on each floor with additional maids’ rooms on the roof, but in 1924 the building’s upper spaces were constructed to provide a grand duplex for Nast. Connected by a staircase to the rooftop entertaining salons, the corner unit at the top floor was redesigned to be private family quarters.

The whole unit was decorated in the French manner by Elsie de Wolfe. Completed in 1925, Conde Nast’s duplex penthouse was used for many lavish parties, which were made famous as much by guest lists as by the entertainment.

Design



In architecture, the term penthouse is used to refer to a structure on the roof of a building that is set back from the outer walls. These structures do not occupy the entire roof deck.

High-rise buildings will often have penthouse structures enclosing mechanics such as those in an elevator machine room.

While European designers and architects long recognized the potential in creating living spaces that make use of rooftops and such setbacks, in US cities, exploitation of these spaces began in earnest in the 1920s.

It was a matter of news when the development of a rooftop apartment at the Plaza Hotel overlooking Central Park was announced in 1923, and this was followed by rapid development of luxury penthouse apartments in the following years.

Penthouse apartment at the top of a building on the Upper West Side, New York City.

Advantages

Penthouse apartments have not only the advantages of a regular apartment such as security and convenient location but also all those of a house such as size and design.

Similar to apartments, penthouses are usually located in the heart of busy cities yet offer a sense of being situated far away from or above noisy and crowded urban life. Such locations provide easy access to hotels, restaurants, malls, and schools.

Overcoming the issue of small space in regular apartments, penthouses are large. Sometimes having two or more levels, penthouses have a size that is equal to multiple

Penthouse residents often have fine views of the city skyline. Access to a penthouse apartment is usually provided by a separate elevator. Residents can also access a number of building services, such as pickup and delivery of everything from dry cleaning to dinner; reservations to restaurants and events made by building staffers; and other concierge services. Most of penthouse have swimming pool.

Penthouse apartments are considered to be at the top of their markets, and are generally the most expensive, with expansive views, large living spaces, and top-of-the line amenities.

Tue, Mar 17

Monday, April 12, 2021

SBI Mutual Fund: AUM Crossed Rs.5 lakh crore

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SBI Mutual Fund: AUM Crossed Rs.5 lakh crore

SBI Mutual Fund has crossed AUM of Rs.5 lakh  crore in March 2021.

In the last one year, SBI MF’s AUM has grown to Rs 5.04 lakh crore from Rs 3.73 lakh crore recording a growth of 35 %.

The market share of the fund house has also grown from 13.82% to 15.71% in the last one year.

The mutual fund company  attributed this growth to increase in the systematic investment plan (SIP) investment.

The SBI Mutual Fund SIP book has increased to Rs 1,382 crore from Rs 1,180 crore over the last one year recording a growth of 17%.

Wednesday, April 07, 2021

Home sales across 8 major Indian cities jump 44% in 2021-22 March quarter: Chennai witnessed 36% growth

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Home sales across 8 major Indian cities jump 44% in  2021-22 March quarter: Knight Frank India

As per the data of sales bookings in primary residential markets of eight major Indian cities, home / flat sales in Mumbai rose 49% year-on-year to 23,752 units in January-March 2021



Chennai witnessed 36 per cent growth to 4,058 units. 

Axis Bank becomes a co-promoter of Max Life

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Axis Bank becomes a co-promoter of Max Life

•            Axis Entities will own 12.99% stake in Max Life

•            Max Life’s Board to be recast with three Axis nominees

•            Axis Entities have right to acquire another 7% in Max Life

 

April 7, 2021 - New Delhi Axis Bank Limited (“Axis Bank”), India’s third largest private sector bank, together with its subsidiaries Axis Capital Limited and Axis Securities Limited (collectively referred to as “Axis Entities”) have become the co-promoters of Max Life Insurance Company Limited (“Max Life”), after completion of the acquisition of 12.99 % stake collectively by the Axis Entities in India’s fourth largest private life insurance firm - Max Life.  The Board of Max Life recorded the closure of the deal today.

 


The transaction was completed after the Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February this year. Max Life’s holding company Max Financial Services Limited (“MFSL”) and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020.

 

Transaction

Axis Bank and its two subsidiaries—Axis Capital Limited and Axis Securities Limited collectively own 12.99% stake in Max Life after the consummation of the deal. The Axis Entities have a right to acquire an additional stake of up to 7% in Max Life, in one or more tranches, subject to regulatory approvals.

With the conclusion of this transaction, Max Life’s Board will be strengthened further, with co-option of three nominee directors of Axis Entities on its Board. 

 

Amitabh Chaudhry, Managing Director & CEO, Axis Bank said: “We are delighted to see the strategic partnership come through. Axis Bank has been a long-term partner to Max Life and together we have contributed to deepening insurance penetration in India over the last decade. We have the opportunity now to shape the future of the industry through continued leadership in products, technology, and customer centricity. We are confident this venture will enhance the value for all the stakeholders of Axis Bank and Max Life.”

 

Welcoming this long-awaited strategic development, Analjit Singh, Chairman of Max Group and Max Financial Services, said, “The conclusion of this transaction is truly a monumental milestone, which will bring added strength to Max Life and help it chart a new growth trajectory by combining the forces of the third largest private bank in India with the fourth largest private life insurer in the country.

We are again privileged to welcome another sterling name to Max’s history of storied partners. Throughout our decade-long business association, Axis Bank has exhibited value across customer insights, distribution expertise and a myriad of functional benefits which will be of great benefit to our business.”

 

Subrat Mohanty, Group Executive, Banking Operations & Transformation, Axis Bank, said, “We have a long-term commitment to build a strong insurance distribution platform for our customers. This deal is an affirmation of that commitment. Max Life is a well-managed professional organization with a stellar track record. We are excited to enter into this new phase in our partnership with them.”

Mohit Talwar, Managing Director, Max Financial Services, said, “With the conclusion of this deal between Max Life and Axis Bank, we are ready and equipped to integrate the synergies of the two players and commence a relationship that will cement Max Life’s position as a top quartile life insurer delivering sustainable and profitable growth.”

 

Prashant Tripathy, Managing Director & CEO, Max Life Insurance, added, “This closure marks a new phase of growth and stability for Max Life. The JV enhances our brand in the eyes of our customers, business partners and investors by integrating the resources and benefits that the two players bring. This development is also a reflection of the relentless efforts put in over the years by the Max Life team. We are looking forward to entering this promising era for Max Life with utmost fervor and dedication.”

 

Axis Bank has shared a successful business relationship with Max Life for over a decade, providing long-term saving and protection products to nearly 20 lakh customers. The total premium generated through this alliance has aggregated to over Rs. 40,000 crores. Both companies have invested extensively in product and need-based sales training, thereby leading to a consistent increase in productivity.

Max Life has been consistently outperforming the private industry. Its asset under management (AUM) grew by 23% YoY and reached Rs 84,724 crore as on 31st December 2020, which has more than doubled in less than 4 years. In the last four years (FY 16 –20), its Individual Adjusted New Sales registered a compounded annual growth rate (CAGR) of 18%. In the first 11 months of last fiscal FY 21, Max Life has outperformed the top three private players with YoY Individual Adjusted New Sales growth of 14%.

 

About Axis Bank:

Axis Bank is the third largest private sector bank in India. It offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,568 domestic branches (including extension counters) and 11,629 ATMs across the country as on 31st December 2020, the Axis Bank network spreads across 2,521centers, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.

For further information on Axis Bank, please refer to the website: https://www.axisbank.com

 

About Max Financial Services Limited:

Max Financial Services Limited (MFSL) is part of the leading business conglomerate – the Max Group. Focused on Life Insurance, MSFL owns and actively manages an 81.8% stake in Max Life Insurance, India’s largest non-bank, private life insurance company. MFSL earned a revenue of Rs. 18,242 crore in FY20. The Company is listed on the NSE and BSE. Besides a 17.3% holding by Analjit Singh sponsor family, some other shareholders include Mitsui Sumitomo, Ward Ferry, New York Life, Baron, Vanguard, First Voyager, Jupiter, Blackrock and the Asset Management Companies of Reliance, HDFC, ICICI Prudential, Motilal Oswal, Aditya Birla Sun Life, Mirae, and Kotak.

 

About Max Life:

Launched in 2000, Max Life is a Joint Venture (JV) is the sole operating subsidiary of Max Financial Services Limited. Max Life is India’s largest non-bank private life insurer and the fourth largest private life insurance company, with gross premium of 16,184 Cr., a Claims Paid Ratio of 99.22%, a Market-Consistent Embedded Value (MCEV) of 9,977 Cr., and a sum assured of 9,13,660 Cr., with a total of 269 branch units across India as of March 31, 2020.

 

Tuesday, April 06, 2021

Sundaram Mutaul Fund CIO Equity Mr. S Krishnakumar Quits

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Sundaram Mutaul Fund CIO Equity Mr. S Krishnakumar Quits

 

Mr. S Krishna Kumar has quit Sundaram Mutual Fund as chief  investment officer (CIO) Equity after about 18-year service at the company.

Mr. Krishnakumar expressed his desire to leave the company as he wanted to do something of his own, said MD & CEO Mr. Sunil Subramaniam.



The Sundaram Mutual Fund has launched a search for his replacement and is considering both internal and external candidates.

The mutual funds that mr. Krishnakumar managed have been handed over to people within the team.

The Sundaram Mutual Fund is hopeful of finding the replacement in the next month.

 

Monday, March 29, 2021

Rising retail investments in Equities Investments..!

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Rising retail investments in Equities Investments..!

Indians are not just saving more but are also adopting new investment modes.

According to a report by Jefferies, Indians directly bought stocks to the tune of $12 billion over January-September 2020.

The impact of this investment was that the average shareholding of small retailers in listed companies went up by 0.6% between December 2019 and September 2020.

Sunday, March 28, 2021

Indian Household savings Rose

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Indian Household savings Rose

A study released by UBS in January 2021 revealed that household savings in India rose in 2020 after declining steadily between 2014 and middle 2019.

The foreign brokerage UBS  said household savings scooped up a hefty $200 billion in extra savings, which is a 20 year high.

Bank deposits & insurance / pensions form 14% each of the total household savings, while nearly 19% constitute claims on government and a whopping 135% are in hard currency, according to the UBS report.

“The sharp surge in retail deposits of banks, inflows into government's small savings schemes, insurance (new business premium & resilient persistency ratios), retail equity flows and rising cash in circulation are all evidence of higher financial savings by the households,” the UBS report said.

Saturday, March 27, 2021

Urgent and important action required : Link Aadhaar with PAN

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 Urgent and important action required

Recent amendments to the Indian Income Tax Rules makes it mandatory to link Aadhaar with PAN on or before 31st March 2021.

 Failing which, the PAN of such person shall become Inoperative from 1st April 2021



The Link 

https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/LinkAadhaarHome.html


Vijayakumar. N 

www.vbuildwealth.com

 98840-76737

Covestro : New pilot plant in operation for next level chemical recycling

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Covestro: a pioneer in foam recycling and cycle design

Closing the loop for polyurethane mattresses

  • New pilot plant in operation for next level chemical recycling
  • Innovative process for recovering both core raw materials enables high yields
  • Pioneer for chemical recycling on an industrial scale
  • Co-shaping of a cycle in cooperation with the value chain

Covestro researcher Sebastian Scherf during a laboratory experiment on the chemical recycling of polyurethane mattress foam. © Covestro

Covestro has developed an innovative process for the chemical recycling of polyurethane (PU) flexible foam from used mattresses. It builds on its participation in the PUReSmart project, which is coordinated by Recticel company.

 

Each mattress contains on average 15-20 kilograms of foam. The Covestro process is novel compared to other chemical recycling approaches, since it enables the recovery of both main PU components. In addition to the polyol, the primary product of the other component formed during recyling – the isocyanate – can now also be generated.

 

Since recently, Covestro has also been operating a pilot plant for flexible foam recycling, in order to verify the positive laboratory results achieved to date. With this project on the chemical recycling of PU mattress foam, the company has made significant progress toward the goal of a recycling loop.

 

"The project is part of a long-term strategic program to fully align Covestro with the circular economy and be a driving force in value creation," says Dr. Klaus Schäfer, Covestro's Chief Technology Officer. 


"The development of this innovative recycling technology and the investment in the pilot plant are further milestones to close material loops. In this way, we aim to replace fossil resources in production, reduce the carbon footprint of our materials and create solutions for dealing with plastic waste. At the same time, we succeed in proving that polyurethanes are recyclable."

 

Next-level foam recycling

 

"Our goal is to industrialize chemical recycling processes for post-consumer flexible foams in order to ultimately commercialize both raw materials derived from the recycling of mattress foam," explains Karin Clauberg, Venture Manager Flexible Foam Chemolysis at Covestro. 


"With our innovative technology we aim to deliver a high purity, high quality recycled polyol that fulfills customer specifications, and a recycled toluene diamine, or TDA, which is suitable for further processing to toluene diisocyanate. This isocyanate, or TDI for short, is used together with the polyol for the production of flexible foams."

 

Furthermore, in collaboration with the companies Recticel and Redwave – a division of Wolfgang Binder GmbH – and as part of the PUReSmart research project, Covestro has developed an intelligent sorting solution to efficiently separate the different PU foams from post-consumer mattresses. 


The software uses machine-learning algorithms for a proper recognition of the different types of foam, enabling clean material inputs for the subsequent recycling process. This development is a further component of the digitalization strategy with the associated new opportunities for the entire chemical and plastic value chain.

 

Co-shaping a circular eco-system

 

Covestro uses international collaborations for joint solutions and innovative business models to help shape the future value cycle for flexible polyurethane foams with its recycling technology. To this end, Covestro is focusing on intensified cooperation with partners along the value chain.

 

Among other things, the aim is to create new business opportunities for Covestro, but also for its customers and partners along the entire value chain; they can also reduce their own CO2 footprint. Increased use of post-consumer waste also helps solve the societal challenge of sustainable management of such waste and contributes to achieving the European Union's circular economy, climate and environmental protection goals.

 

New pilot plant setting the stage for process industrialization

 

The new pilot plant that Covestro has now commissioned is designed to expand recycling into an efficient industrial process. The aim is to validate laboratory results, optimize the process and develop products and applications on a small industrial scale. This is an important step in taking the development of the circular economy at Covestro to a new level.

 

The first phase is to focus on process development for polyol recycling, followed by the recovery of TDA as a precursor to TDI, scheduled to start this summer.


About Covestro:

With 2020 sales of EUR 10.7 billion, Covestro is among the world's leading polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative, sustainable solutions for products used in many areas of daily life. In doing so, Covestro is fully committed to the circular economy. 

The main industries served are the automotive and transportation industries, construction, furniture and wood processing, as well as electrical, electronics, and household appliances industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. At the end of 2020, Covestro has 33 production sites worldwide and employs approximately 16,500 people (calculated as full-time equivalents).

 


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