This week was a busy one for news gatherers and newsreaders. Catch up on the most important deep dives researched and written by the good writers at Forbes India
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SBI MF: Betting big on alternatives
SBI MF is on top with average assets under management (AAUM) of around Rs8 lakh crore from an industry total of Rs46 lakh crore, i.e. AUM market share of just under 18 percent. SBI MF has been able to occupy a leadership position thanks to the parentage, managing EPFO money and adoption of technology. But if you exclude the EFPO money, private MFs such as ICICI Prudential AMC and HDFC AMC would be serious competitors. Alternative Investment Funds (AIFs) have emerged as one of the new investment assets to invest into—besides Portfolio Management Services (PMS)—for sophisticated, high-income investors. It is no surprise then that SBI MF has planned AIFs as its next target for strategic growth. Now, it needs to set the rules as a leader leapfrogging to the next level. Read more
What’s up with Adani stocks, again?
In a fresh blow to the Adani group, a global network of investigative journalists alleged that the conglomerate was involved in manipulating share prices of its companies from 2013 to 2018. These revelations come nearly 6 months after Hindenburg had raised questions on the Gautam Adani-led group of companies, their financial health and disclosures. On Thursday, investors rushed again to sell its shares, wiping off around Rs32,740 crore of wealth on a single day. Shares of Adani Enterprises, Adani Ports and SEZ, Adani Power, Adani Energy Solutions, Adani Total Gas and Adani Wilmar lost around 2-4 percent on the BSE, at closing. However, Adani group of companies have denied the report calling it ‘recycled allegations’. Here’s what you need to know