Economy and Business

In an exclusive interview with BW Businessworld, Abhijit Bhave, CEO, Karvy Private Wealth talks about UHNI investors and more Over the years, have you observed any discernible behavioral differences in the way UHNI’s approach their investments/portfolios?  UHNIs are more diligent in allocating funds and are more informed. Transparency in fees and charges is expected and Investors are more cost-conscious. The investment decision-making process for UHNI investors has become more sophisticated, and asset allocation is of prime importance.  How would you describe the attitude of the majority of UHNI’s towards risk-taking?  Trends indicate a shift of portfolio exposure towards alternative investments. Direct venture capital investments and absolute return strategies among the most popular investments in UHNIs and Family Offices. Calculated risk-taking and tactical allocations can be seen in portfolios.  How inclined/disinclined are UHNI’s towards plain vanill...

Invest in regular health care program and for the long term to create wealth and lead a stress a free life Today's women are juggling between high-pressure work environments, fast-paced social life and simultaneously managing the family, which can sometimes put money management on the back seat. A few money management mistakes if avoided in the earlier part of life can help women hand carve and secure a financial future. It is advisable that they start their financial planning journey with the help of an advisor, who will help in drafting a customized fiscal road map, ensure optimum asset allocation as per the risk profile and simultaneously help in the execution of the investments. The seven mistakes that a woman should avoid being financially independent are 1.      Not having a contingency reserve of six months expenses 2.      Not investing regularly in a diversified portfolio with the right asset mix as per the risk pro...

The wealthy, Bhave says, has evolved a lot in the past two-three years, especially in terms of making learned decisions and considering the costs involved in the investments ABHIJIT BHAVE, chief executive officer of Karvy Private Wealth talks to Puneet Wadhwa on the key trends in the wealth management business in India and the road ahead for the industry. Edited excerpts: Do you think the wealth management segment is getting overcrowded and the margins will get thinner going ahead? India is on the growth trajectory where projections of a $10 trillion economy over eight years are being made. This leads to a lot of potentials for wealth management companies to grow and the sector will not get saturated anytime soon. In the short-term, there may seem to be some overcrowding in this space. That said, there is huge potential to grow over the long term. The margins will definitely get thinner going ahead but an increase in the asset base in terms of volumes will bring prof...

The initiative, conducted over Sept, Oct and Nov by Karvy, is viewed as a great morale booster among employees The initiative has encouraged a culture of creative thinking, say some employees It’s not every day that you are cherry-picked to become the CEO of a company. Prashant Wagh, vice-president (VP), wealth management, at Karvy Private Wealth got the chance to sit—literally—in the top boss’ chair as part of Karvy’s “CEO for a day" initiative. To make the day memorable, Wagh’s family received a bouquet, announcing his new designation, at their home in Pune. The 37-year old moved into the company’s guest house a day ahead of the “big day". The next morning, he was chauffeured to Karvy’s Mumbai head office, where he spent the day familiarizing himself with the tasks of a CEO. Ratika Gujral Manjrekar, 32, associate VP, wealth management, and Naveen Govind, 41, VP, wealth management, were two others chosen as “CEO". “I thoroughly enjoyed the help and assistance...