Puneet Saxena, CFA

https://lnkd.in/girNavcv n this insightful video, join Naha, Aniruddha- Chief Investment Officer of PGIM India Mutual Fund PMS & AIF business, as they delve into the strategic use of leverage in Alternative Investment Funds (AIFs). Whether you are an investor looking to understand the nuances of leveraging or a financial professional seeking deeper insights, this video provides valuable knowledge and practical perspectives on the strategic role of leverage in AIFs. Don't forget to like, share, and subscribe for more expert insights on investment strategies! #investmentmanager #AIF #PGIMalternate #pms Aditya Prabhu Kiran Joshi Abhijeet Sharma Uday Koppalkar Sri Chakri Prakash Mandavilli Ganesh P N

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Watch Vetri Subramaniam, Chief Investment Officer, talking about global and domestic market scenarios. Also, get an overview and investment philosophy of UTI Flexi Cap Fund by Ajay Tyagi, Head of Equity. Streaming LIVE on June 14,2024 (Friday) at 4 PM. To set a reminder click https://bit.ly/3nMCIPm #UTIMutualFund #marketinsight #equity #flexicap #marketupdate #mutualfund #wealthcreation #stayinvested #webinar

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Today's Headlines from : *Economic Times* 📝 Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance 📝 TCIL may offload 5-10% stake in Bharti Hexacom 📝 Oxford study commends India's 'PRAGATI' model to boost infra 📝 Promoters Samina and Rumana Hamied exit Cipla; sell 1.72 pc stake for Rs 2,111 crore 📝 Flexible workspace provider Smartworks receives SEBI approval for IPO 📝 Panschil Realty’s hospitality arm receives SEBI approval for a Rs 2,000 crore IPO 📝 RBI asks banks to bring down inoperative accounts urgently, report their numbers quarterly 📝 Nazara Technologies invests Rs 196 crore in new startups, subsidiaries 📝 Prosus invests $80 million in supply chain finance startup Mintifi for 10.6% stake 📝 RaptorX raise funds in a pre-seed round from Peak XV Spark, EagleWings Ventures, Point One Capital among others 📝 Employee engagement platform AdvantageClub AI raises $4 million *Business Standard* 📝 Rupee stares at 85 against dollar amid GDP worries, hits fresh low of 84.70 📝 FAME-II violations: SFIO conducts search operations at 3 companies 📝 Ola Electric fires up plans for 4,000 store locations by end-December 📝 Vodafone Idea becomes latest telco to launch AI-based spam detection filter 📝 Tata International, Tata Motors start vehicle scrapping facility in Pune 📝 HC sets aside ITAT order declining stay on Rs 1,200 cr demand on Samsung 📝 Punjab & Sind Bank eyeing Rs 3,000 crore through infrastructure bonds 📝 Swiggy expands its 10-minute delivery offering 'Bolt' to over 400 cities 📝 Gopalpur Ports' credit rating upgraded 6 notches post-acquisition by APSEZ 📝 MGNREGA work demand up 4% in November as farm sowing ends, shows data 📝 India's potential GDP growth is in range of 6.5-7%, says CEA Nageswaran 📝 Coal India's total production up by 2% to 471 million tonnes in Apr-Nov 📝 Corporation tax paid by listed companies at 4-year low in Q2 FY25 📝 Windfall tax on domestic oil, fuel exports scrapped with immediate effect 📝 Razorpay partners MHA and I4C to boost digital payments security 📝 PhonePe discontinues its partnership with payment aggregator Juspay 📝 Top Indian cities report about 1 million unsold housing units: Study 📝 PSBs at only 42% of FY25 MUDRA disbursement target by October-end 📝 Electric vehicle sales down 12% in November after festival-driven rush *Financial Express* 📝 ONGC eyes mining of offshore minerals 📝 NBFCs asset growth to moderate to 15-17 per cent over two years 📝 Govt ropes in IIM Bangalore, others to assess impact of PM Internship Scheme 📝 Rabi sowing gathers pace, up 4 per cent on year 📝 Sebi orders attachment of bank, demat accounts of Reliance Big Entertainment 📝 India’s manufacturing PMI drops to 11-month low of 56.5 amid intensifying price pressures, weak demand 📝 Torrent Power opens QIP, sets price Rs 1,555.75 per share

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The INR 12,864 crore investment in Reliance Retail by Abu Dhabi Investment Authority (ADIA) is only the beginning of wealth creation enabled by Sovereign Wealth Funds(SWFs). Here’s what you need to know about SWFs – SWFs are instrumental in creating wealth for economies and their nationals. SWFs usually invest the state’s surplus revenue in a diverse range of assets to create long-term wealth and economic stability for its citizens. What is interesting is that SWFs are making bold moves, and India has become one of their top destinations. Just last month, ADIA, the largest sovereign wealth fund in the United Arab Emirates(UAE), started operations in India's GIFT City . They have already committed to investing USD 75 billion in Indian projects, including a USD 4-5 billion allocation through the GIFT City. SWFs manage over a staggering USD 12.6 trillion worldwide, and their investments in India can drive growth across industries. Currently, we are seeing high interest in the infrastructure, technology and sustainable energy sectors.  In the latest newsletter, I have covered- ➡️ The global significance of Sovereign Wealth Funds (SWFs)  ➡️ How the top 3 SWFs invest  ➡️ What makes India a leading destination for SWF investments ➡️ Sectors in India that are drawing the attention of the biggest SWFs The message is clear: India’s potential is on the global radar, and Sovereign Wealth Funds are betting on it. 🔗 Read the complete analysis here: https://lnkd.in/d3jtAvt7 Join 300,000+ wealth creators who receive our weekly insights on investing, business, and wealth creation (SUBSCRIPTION LINK IN COMMENTS). #SovereignWealthFunds #IndiaGrowth #CreateWealth #Dezerv

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While valuations are a concern, large caps and some larger midcaps are better placed on risk reward vis-a-vis some of the smallcaps and microcaps, Shibani Sircar Kurian of Kotak Mutual Fund tells THE WEEK #India #StockMarket #UnionBudget2024 #Investing #investments https://lnkd.in/d9HPfXMa

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Hi Friends, It's been eight months since the launch of our live Rs 1cr portfolio, 𝗪𝗲 𝗮𝗿𝗲 𝘂𝗽 𝟵.𝟰𝟴% since then, thanks to our 𝗹𝗼𝗻𝗴 𝗴𝗼𝗹𝗱, 𝗹𝗼𝗻𝗴 𝘀𝗶𝗹𝘃𝗲𝗿, 𝗹𝗼𝗻𝗴 𝗱𝘂𝗿𝗮𝘁𝗶𝗼𝗻, 𝗮𝗻𝗱 𝗟𝗼𝗻𝗴 𝗖𝗵𝗶𝗻𝗮 𝗲𝗾𝘂𝗶𝘁𝘆 strategies playing out well. The portfolio is managed to target a 𝟭𝟱% 𝗮𝗯𝘀𝗼𝗹𝘂𝘁𝗲 𝗿𝗲𝘁𝘂𝗿𝗻 𝗼𝗻 𝗮 𝗖𝗔𝗚𝗥 𝗯𝗮𝘀𝗶𝘀 through dynamic, opportunistic multi-asset, multi-geography allocation. Given our current portfolio skew towards bonds, the risk parameter that we monitor on an ongoing basis i.e. 1y 97.5% VaR, is comfortably within the Rs 15 lakh limit set, thereby making any outsized drawdown unlikely. Below is a summary of our allocation rationale and rebalancing opportunities: Equities Global equities performed well over the past month. The S&P 500 and STOXX 600 gained 2.4% and 2.3%, respectively, while the Nikkei rose 3.4%. The Shanghai Composite underperformed, falling 4.4%, as weak Chinese macro data and the ongoing property sector downturn weighed on consumption. Nifty gained 2.3%, driven by defensive sectors. Nifty IT rose 7.4%, followed by Pharma (3.7%) and FMCG (3.6%). Smallcaps defied valuation concerns, gaining 4.7%. 𝗪𝗲 𝗵𝗼𝗹𝗱 𝟮𝟮% 𝗼𝗳 𝗼𝘂𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗶𝗻 𝗲𝗾𝘂𝗶𝘁𝗶𝗲𝘀, 𝘄𝗶𝘁𝗵 𝟭𝟱% 𝗶𝗻 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗮𝗻𝗱 𝟳% 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮𝗻 𝗲𝗾𝘂𝗶𝘁𝗶𝗲𝘀. Bonds and Rates Deteriorating US labor market data has fueled expectations of more aggressive Fed rate cuts, with a 30% chance of a 50bps cut in September. US 2y and 10y yields dropped by 30bps and 16bps, respectively, while India's 10y yield fell by just 3bps. Banking system liquidity remains in surplus, but redistribution of deposits has driven 1y CD rates 90bps higher than 1y T-bills. 𝗢𝘂𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗺𝗮𝗶𝗻𝘁𝗮𝗶𝗻𝘀 𝗮 𝗹𝗼𝗻𝗴-𝗱𝘂𝗿𝗮𝘁𝗶𝗼𝗻 𝘀𝘁𝗮𝗻𝗰𝗲. FX The Dollar index weakened by 1% as weak US data raised recession concerns, attracting safe-haven flows. The 𝗥𝘂𝗽𝗲𝗲 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝘀𝘁𝗮𝗯𝗹𝗲 at nearly 84 against the Dollar, while EUR/INR and GBP/INR reached record highs. Commodities Commodities saw risk aversion. Brent fell 15% on demand fears, while safe-haven bids supported Gold (+1.8%) and Silver (+1.4%). 𝗪𝗲 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗯𝗲 𝗰𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝘃𝗲 𝗼𝗻 𝗯𝘂𝗹𝗹𝗶𝗼𝗻 𝘄𝗶𝘁𝗵 𝗮 𝟭𝟯% 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗲𝘅𝗽𝗼𝘀𝘂𝗿𝗲 𝘁𝗼 𝗴𝗼𝗹𝗱 𝗮𝗻𝗱 𝘀𝗶𝗹𝘃𝗲𝗿. Copper remained steady, despite broader market risks. For insights into our current portfolio allocation and real-time MTM, click on the link below: https://lnkd.in/dFTRiTnd

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Our Director, Chirag Muni explains the concept of alpha in investing, how it is calculated and its impact on portfolio performance with Neha Vashishth on ET Markets. Know more: https://lnkd.in/daArpwC8 #mathematicalrevolution #financialplanning #wealthmanagement #mutualfunds #anandrathiwealth #india #indian #investment #investor #investmentideas #databacked #LeadershipInsights #RiskManagement https://ecoti.in/7Am5_a

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#Budget2024 Still think SGB investors are the only victim of customs duty cut on gold? The truth is that the government has earned about Rs 620 crore from redeeming sovereign gold bonds at a lower price but has also lost Rs 26,000 crore worth of potential revenue due to the customs duty cut. As per Aksha Kamboj ​"Revenue loss to the government may be approximately Rs 26,000 crore due to customs duty cut but the same is likely to be compensated by import of gold through the official channel. The Government will benefit up to Rs 620 crore in the F.Y 2024-2025 on account of redemption of SGB, as nearly 10 tons of gold bonds will mature in F.Y 2024-2025." SGBs remain the most expensive borrowing instrument for the government but this does not mean that the customs duty cut was for reducing the SGB redemption liability. (As per Sachin Kothari, "​The Sovereign Gold Bond issuance began in November 2015 and was intended to provide a secure and simple alternative to physical gold. But SGB is one of the most expensive tools for government borrowing now as gold prices have elevated. And it seems, uncertain whether the government will issue new securities during the current fiscal year. When the SGB plan was implemented in 2015, the customs tax was set to 10%. It was later raised to 15% in 2019, 2021, and ultimately in 2022. These duty hikes resulted in bigger returns for investors, which raised the government's redemption liabilities. If there had been no customs duty cut, gold prices would have been trading around Rs 7600/gram, which would have led to an outflow of nearly Rs 2090.65 crore." So why was customs duty cut on gold? ​As per Sachin Kothari, "The core reason for lowering customs tax on gold in India is to create a balanced, transparent, and competitive market that reduces illicit activity, promotes industry growth, and coincides with larger economic goals." As per Aksha Kamboj, "The Government has already stated that they wish to control illegal import of gold in the country and hence this is the major reason to control gold price." With inputs from Abhishek Gupta Augmont | Gold For All India Bullion and Jewellers Association Ltd. (IBJA) #gold #sgb #goldinvestment

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Listen to this insightful conversation where Vinay Paharia and Vivek Sharma explain our investment strategy and advice investors on how to tread the current market. Vinay Paharia : Investors should be very careful to not extrapolate past trends while engaging in investing, especially in current market environment. Pavlovian conditioning of investors ensures that every dip gets bought into. However, the results of such investing activity may not produce the desired outcomes, especially if held for short to medium term. Vivek Sharma : The markets have seen correction in mid and small cap space, where there is excess exuberance and valuations were unsustainable. Markets seem to have assigned high valuations to cyclical and slow growing companies and now there is some reality check. Further correction in pockets where earnings are not sustainable is not ruled out. Our philosophy of investing in high quality and high growth companies with focus on valuations will serve us well in the long run. Advisorkhoj.com Suren Kochhar

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Part 2 of Trump Win: India Impact. Ref previous post for Part 1. 4. Policies actually implemented: a. Politicians usually do not talk about the harsher measures required to mitigate the very obvious downsides of any populist measure they announce in the campaigns. b. Policy Approvals: Republicans have won the Senate and have a lead in the House of Representatives at the time of writing. President can decide without Congress approval, on Tariffs and Immigration (H1B visas for our IT). However he will need Congress approval for Corporate Tax cuts and Fiscal Spends. c. The US is unlikely to use a blunt hammer to solve each issue, and will implement each policy as it best suits its self-interest. For eg, its tariff increases are apparently based on 3 considerations, ie trade balances, currency manipulation & China threat to security in particular. India comes mostly in the 2nd category, hence it is possible that some negotiations will occur about mutual tariffs on specified items rather than a blanket increase and a tariff war as it could be for China. 5. Sectoral Drivers: For each of our major sectors apparently affected by US policies, there are FAR greater drivers unrelated to the same: a. IT sector growth primarily depends on i) how much AI LLM application work will come to us + ii) increase in IT Budgets of US Inc. as Presidential uncertainty is removed + iii) Fed rate cut impact on growth. The relatively less important direct effects of potential US policy changes are: Reduced Corporate Tax + Make-in-America (to help loosen US IT budgets). US Tax cuts would help Indian IT subsidiaries, US Banking recovery to esp. help Mphasis, any tightening of Visa restrictions may not affect Infy/ Wipro as much as others, as they are more localized. b. On commodities (metals, and inputs for FMCG), this will depend as much on Chinese growth and global competitive currency devaluation as on end of the Ukraine war. c. For pharma, the key consideration is the pipeline of drugs going off-patent. This is more important than the effect of tariffs on India & China. d. On Oil, there’s likely to be high global refineries shutdown next year resulting in high GRMs. Note, that US has to export its oil to Europe & buy from Saudi as its refineries are not most efficient in refining local oil. Trump means to loosen oil supplies and logistics in the US, which is not as important as the above factor. Part 3 in next post.

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In our post on Ist October, we suggested that Nifty has generated a sell signal, and if it breaks 9th September low of 24753.15 by 19th October, the big reversal will be confirmed. We again suggested Friday that if 24753.15 is gone, then the Nifty may go down as low as 21000-19000. Now Nifty has broken the 24753.15 level, and now Nifty should break June 4th low of 21281.45 in the next 3 months. On Friday, we also suggested lightening the equity exposure, and today, both midcap and smallcap indices have crashed, hitting investors' portfolios a little hard. Till now, these two indices have been having a free run. Now, it will be quite a tough time for PMS schemes as it is going to be very difficult to exit from these positions in a falling market. Now, the boys will be separated from the men. As Warren Buffet famously said, " Only when the tide goes out do you discover who's been swimming naked." We advise extreme caution going ahead. Wish you all the very best! 👍✨

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"Quantive is Science, Qualitative is Art and Investing is combination of Science & Art." Yes, these remarkable words are enough to understand psychology of stock picking. And These are the words by Bharat Shah (Executive Director - ASK Asset & Wealth Management ) and handles over 45,000 crs. of assets. Today with Series - 1 of '💎 of Indian Markets' let's try to drive of some valueable lessons from his journey. He started his journey with non-finance role but his keen interest lied in finance and with his educational background backed by finance.His love for equity market could be judged by his dive in market in 80's where markets were considered to be place to gamble . At that time there were lack of job and security in the market place and there were least regulations though therewere no FII's that time. Despite this he was courageous enough to join Grow More, Yes this is same "Harshad Mehta wald Groww More" as Head of Research team. He had close bond with Ashwin bhai they used to have long decisions and he addresses Harshat Mehta as 'Future Firm Predictor' because of his clear and invincible vision of investing. And he also admire Charlie Munger a lot and we could find there conversation very impact full for investing and we will discuss it some other day or I will share some sources to it. Let's observe his way of Investing now: He believes in more philosophical and psychological aspect of Investing. Where he believe Quality Investing to be key parameter of investing as quality adds more durability than returns to your portfolios and good managment is also must have attribute to company you are investing in. We will purely elaborate it in upcoming posts. and I was shocked hearing his political stance. He don't admire government as a major factor effecting Indian Market. "1 out of 140B won't decide markets". His Views' on markets right now : " Markets are there, where they are expected to be" and he mentioned with inc. in earning too with increase in price. He appreciatesthe backing support of DII's and retailers who are leading the markets which is advantage for marketsas it won't effect much FII's selling. He is man with ocean of lessons on which we tried floating upon. Thank you Kushal Lodha for bringing up this conversation. Such a value adding convo. Sorry for any error / miscommunication as I am not an expert but a learner tries to share some of my valueables so hope it would have added some value in you. Share your experience and thoughts in comment section. I will try to bring such content on table with time. #Investing #EquityMarket #Stockmarket #Lessons #Billionaire #BharatShah #ASKgroup #Growmore #HarshadMehta #CharlieMunger #IndianMarkets #Analysis #Stockpicking #Research #Learning #Investor .

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Akshar Shah, Founder of Fixerra, and Nikhil Aggarwal, Founder of Grip Invest, dive into the evolving world of equity and fixed asset investments in this engaging conversation with Rohit Murarka, Business Head at Kotak Cherry. From the changing dynamics of equity markets to the rising appeal of fixed assets for consistent returns, this episode unpacks the emerging trends and strategies to navigate today’s financial landscape. They also share personal insights on what it takes to succeed in fintech, the impact of diversification, and actionable advice for investors on building resilient portfolios. A must-watch for those looking to understand the future of investments and make informed financial decisions. Catch the full podcast here: https://lnkd.in/gbBvpwvc #StaySmartWithCherry #ExpertInsights #Investments #Portfolio

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Sectoral or Thematic funds have now got the largest AUM. Defence, Manufacturing, Digital, Infra, Auto, Realty, Consumption etc. are the season's flavours. For retail investors, I always feel going for either index funds or diversified flexicap or multicap funds serves the best purpose.

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BIG BREAKING FOR F&O PLAYERS: SEBI appointed panel has recommended to increase minimum size of derivative contracts from 5 lakhs to Rs. 20-30 lakhs It's up for secondary market committee review. This is for Futures contracts as those are the contracts that has minimum ticket size at 5 lakhs. Not options. Infact options ticket sizes were slashed at index level previously for more liquidity. There is chaos regarding this news. It's just a recommendation amongst multiple recommendations received by sebi from this team. No concrete decisions have been made so far. Source:- MoneyControl

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LIC Mutual Fund’s CIO - Equity, Yogesh Patil, talks about India's manufacturing sector being on the cusp of a golden era. In his latest analysis, he explores how global trends and government policies are converging to create unprecedented opportunities for Indian manufacturing. From rising investments driving GDP growth to the 'China Plus One' strategy benefiting Indian industries, Yogesh offers valuable insights into the factors shaping this transformative trend. He also examines how urbanization is boosting demand for premium goods and highlights the export potential in high-value sectors. Discover how these developments could reshape India's economic landscape and create new investment avenues. Click here to read the full article on @OutlookMoney: https://bit.ly/4bqmphw

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InCred Asset Management has decided to book profits in its India Value Growth Fund I, and hand it back to investors. Citing elevated risks of significant fluctuations in the market, InCred has taken this decision to stay disciplined across cycles. Aditya Sood, Fund manager, has given his comments on this decision, covered by The Economic Times digitally and in print. To read the full story click here: https://lnkd.in/dpdS_y6V To know about the portfolio strategies of Aditya Sood, email us at: [email protected] #Leadership #Stockmarket #Assetmanagement

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This news on GIC Re , a PSU to hit the market with a follow on public offer (FPO) at a price of Rs 395/ per share, is there in almost all prominent dailies and online business platforms.Quite interestingly in 2017 this company came with an IPO at about Rs 940/- later a 1:1 bonus was declared bringing the effective price to Rs 420 /- level. The same company seven years later is coming up with a share offering at a premium lower than what was charged 7 years ago. Is this fair to those who bought this company's shares 7 years ago? Was it not over priced then?

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