Aditya Birla Capital to sell partial stake in AMC

Aditya Birla Capital (ABCL) and Sun Life (India) AMC Investments Inc. (Sun Life) are the Promoters of Aditya Birla Sun Life AMC (ABSAMC). ABSAMC serves as the investment manager for AB Sun Life MF, a legally registered trust governed by the Indian Trusts Act. Promoters currently together hold 86.48% of the ABSAMC – 49.99% by … Read more

Jio Financial partners with Blackrock

Jio Financial Services Ltd (JFSL), the demerged financial lending arm of Reliance Industries Ltd, and BlackRock, the world’s largest asset manager, have joined hands to set up an asset management company. It’s a 50:50 JV with both partners planning to invest $150 million each in the JV Jio BlackRock will bring BlackRock’s deep expertise and … Read more

AI Can Outperform LPs at Picking Top Private Equity Funds, Study Finds

AI can pick private equity firms to back better than many investors, per an Oxford study. Researchers trained AI to read 400 prospectuses to predict the top-performing funds. However, lead researcher Ludovic Phalippou believes it should still only be used as a sounding board. Artificial intelligence can pick out top-performing private equity (PE) funds better than … Read more

Abrdn completely exits out of HDFC AMC

After HDFC Life, Abrdn has quickly exited out of HDFC AMC too. After continuously reducing stake over the years, Abrdn had 10.2% balance stake left in HDFC AMC It has now sold this through open market transactions and realised Rs 4,079 cr The per share realised price is Rs 1,873 which is similar to the … Read more

Abrdn completely exits out of HDFC Life

As was expected, Abdrn (formerly Standard Life Aberdeen) has finally sold off it’s balance 1.66% stake of HDFC Life. Pre-IPO in 2017, Standard Life (now Abdrn) held 35% stake in the Company. Adrdn has been monetising its investments in India as part of its plans at the parent level to shore up capital reserves in … Read more

5Paisa demotes the current CEO, to make way for a new one

5Paisa has demoted the current CEO, Prakarsh Gagdani to the position of Chief Business Officer (CBO) w.e.f. May 25, 2023. He will however continue to be the Whole-time Director of the Company. Prakarsh was the CEO since October 2015 i.e., the inception. Reason for this change seems to be only to make way for the … Read more