Latest news with #AnoopVijaykumar
Time of India
a day ago
- Business
- Time of India
Deepak Shenoy's Capitalmind Mutual Fund files its first draft document with Sebi for a flexi cap fund
Deepak Shenoy 's CapitalMind Mutual Fund has filed its first draft document with Sebi to launch a flexi cap fund - Capitalmind Flexi Cap Fund . The fund will be an open-ended dynamic equity scheme investing across large cap, mid cap and small cap stocks. The investment objective of the fund will be to generate long-term capital appreciation by investing predominantly in equity & equity related instruments across market capitalization i.e. large-cap, mid-cap and small-cap stocks. Also Read | ITC and Cochin Shipyard among stocks that Quant Mid Cap Fund bought and sold in May Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Vietnam (Prices May Surprise You) Container House | Search ads Search Now Undo It will be benchmarked against NIFTY 500 TRI and will be managed by Anoop Vijaykumar . The fund will offer regular and direct plans both with growth option only. For each purchase of units through lumpsum / switch-in / Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), exit load on redemption / Systematic Withdrawal Plan (SWP) / Switch-out, will be as: (i) If units redeemed or switched out within 12 months from the date of allotment – 1% of the applicable NAV (ii) If redeemed/switched out after 12 months from the date of allotment, the exit load will be nil. Live Events The minimum application amount for lumpsum investment is Rs 5,000 and in multiples of Re 1 thereafter. For SIP, the minimum amount is Rs 1,000 and in multiples of Re 1 thereafter with a minimum of 6 instalments. The fund will allocate 65-100% in equity and equity related instruments of large cap, mid cap and small cap companies, 0-35% in debt securities & money market instruments (including cash & cash equivalents), 0-10% in units issued by REITs and INVITs, and 0-5% in units of mutual fund scheme. The investment objective of the scheme is to generate long-term capital appreciation by investing in equity and equity-related instruments across market capitalizations. We employ a rule-based active approach using proprietary rule sets developed through an analysis of market, macroeconomic, and fundamental factors. Also Read | Money market funds outshine liquid & overnight funds in May. Time to rethink emergency fund strategy? 'Our equity allocation decisions are data-driven, based on objective market variables, including but not limited to macroeconomic variables, current equity market valuations and interest rates. Final investment decisions will be taken by the Fund Manager(s) based on the data referenced above, but may also be based on specific subjective analysis of underlying securities,' the fund house said in the draft document. Stock selection and weighting utilize quantitative factor-based methodologies designed to achieve a balanced mix of attributes that support long-term performance within defined risk parameters. A factor represents any quantifiable attribute that significantly explains the risk and/or return characteristics of a security. The Scheme may employ single factors or combinations to enhance diversification and risk control. According to the draft document, the scheme will be suitable for investors who are seeking - long term wealth creation and investment predominantly in equity and equity related instruments across large cap, mid cap and small cap stocks.
Mint
11-06-2025
- Business
- Mint
Asset management stocks rebound as AMFI data shows record AUM; Nomura bullish on HDFC AMC, NAM
Shares of asset management companies (AMCs) staged a modest recovery on June 11, 2025, after facing some profit booking in the previous session. The rebound came even as equity mutual fund inflows fell to a 12-month low in May. The data released by the Association of Mutual Funds in India (AMFI) showed a mixed picture—while equity inflows slipped sharply, overall assets under management (AUM) hit an all-time high. The sector also received a boost from Nomura's reaffirmed bullish stance on leading players HDFC AMC and Nippon Life India Asset Management (NAM India), citing strong growth in AUM and profitability. HDFC AMC rose nearly a percent after dropping 2 percent in the prior session. Similarly, UTI AMC gained 0.8 percent, recovering from a 1.4 percent decline on June 10. However, Aditya Birla Sun Life AMC (ABSL AMC) remained under slight pressure, trading flat to marginally lower. Despite short-term volatility, AMC stocks have shown strong momentum in recent weeks—UTI AMC and ABSL AMC have surged up to 20 percent in the last one month, while HDFC AMC has gained 15 percent over the same period. The initial decline in AMC stocks came after AMFI reported a steep 22 percent drop in equity mutual fund inflows for May, totaling ₹ 19,013 crore, the lowest in a year. However, analysts view this drop as a moment of consolidation rather than cause for concern. Anoop Vijaykumar, Head of Equity at Capitalmind MF, said, 'Even with a 22 percent month-on-month dip, ₹ 19,000-plus crore of fresh equity money marks the 51st straight month of positive flows—a remarkable show of investor discipline since March 2021.' One of the biggest positives from the AMFI data was the continued strength in Systematic Investment Plans (SIPs). Monthly SIP contributions rose marginally to hit a new high of ₹ 26,688 crore, marking a 28 percent year-on-year increase. The rising SIP numbers suggest that retail investors continue to favour disciplined, long-term investing strategies. Moreover, the mutual fund industry's total AUM climbed to a record ₹ 72.20 lakh crore in May, up from ₹ 69.99 lakh crore in April. This milestone is seen as an indicator of the deepening of retail participation in capital markets and the ongoing shift of household savings toward financial assets. Overall, the industry registered net inflows of ₹ 29,108 crore during the month. Adding to the positive sentiment, Japanese brokerage Nomura reiterated its bullish outlook on HDFC AMC and NAM India in a report released on June 10. The brokerage maintained 'Buy' ratings on both stocks, driven by expectations of continued growth in AUM and operating profits. HDFC AMC and NAM have rallied 13 percent and 16 percent respectively in the past month, outperforming the broader market even as overall equity inflows slowed. Nomura analysts Ankit Bihani and Parth Desai highlighted the resilience of SIP flows and improving operating leverage as key tailwinds for these companies. The brokerage has set a price target of ₹ 4,272 for HDFC AMC, supported by its dominance in the high-margin equity AUM segment. For NAM India, the target price stands at ₹ 624, driven by cost efficiency and scalable operations. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
06-06-2025
- Business
- Economic Times
Nirmala Sitharaman backed consumption over capex. But guess who's making billions
Four months after Finance Minister Nirmala Sitharaman's Union Budget appeared to pivot policy focus towards consumption, the real winners in the market have emerged from an unlikely corner: capital goods. ADVERTISEMENT Despite a budget speech that dialed back aggressive infrastructure spending in favour of easing middle-class tax burdens and supporting household demand, capital expenditure stocks have not only held their ground but have outperformed. The BSE Capital Goods Index has soared 10% since Budget Day, trouncing the Nifty India Consumption Index, which managed a muted 3% rise, and even outperformed the Nifty 50's 5% climb. The rally in capital goods stocks has added a staggering Rs 1.85 lakh crore in market value. Leading the pack is Hitachi Energy India, with a 54% surge. Defence heavyweights like Bharat Dynamics (up 49%), BEL (33%), and HAL (26%) have also posted stellar returns. Other notable gainers include Schaeffler India, BHEL, Kaynes Tech, SKF India, GMR Airports, Suzlon Energy, and Inox Wind—all of which have clocked double-digit gains. Meanwhile, the consumption story hasn't lived up to the Budget's optimism. The Nifty India Consumption Index has underperformed broader markets. Varun Beverages and Colgate-Palmolive have posted double-digit declines.'The mix of cheaper starting prices, accelerating earnings, and stronger order pipelines explains why capital goods stocks have outperformed consumption,' Anoop Vijaykumar, Head of Equity at Capitalmind Mutual Fund told ET pointed to multi-year high order books at engineering firms and the RBI's OBICUS survey showing manufacturing capacity utilisation at 75.4% in Q3 FY25—the highest in six years—as signs that the industrial engine is firing on all cylinders. ADVERTISEMENT Also read | Sensex will hit 1.5 lakh by 2030 & 3 lakh by 2035! Raamdeo Agrawal makes big prediction 'Policy support for railways, defence, renewables and the PLI 2.0 schemes has not slowed; these programmes are multi-year and continue. Meanwhile, the consumption complex faces a softer near-term backdrop: rural volumes are only just turning positive, urban discretionary demand is normalising after two strong years, and the sector entered Budget season on richer valuations,' Vijaykumar added. ADVERTISEMENT Dhiraj Relli, MD & CEO of HDFC Securities, echoed the sentiment, calling the capital expenditure revival a "multi-year" phenomenon. 'Between FY21 and FY25E, private sector capex has grown at 19.8% CAGR. The momentum is likely to intensify in FY26, driven by domestic manufacturing, continued government infrastructure initiatives, and healthy corporate balance sheets,' he the flip side, Relli flagged that consumption faces headwinds from 'sluggish urban demand, delayed rural recovery, and persistent inflation.' While tax reductions and early signs of rural revival offer a glimmer of hope, margin pressure and steep valuations may limit upside. ADVERTISEMENT So is the capex story here to stay? Vijaykumar believes it is. 'The central government has already budgeted over Rs 11 lakh crore of infrastructure spending for FY26, while states and CPSEs have pencilled in similar growth. Private sector intent is also strengthening with new project announcements rising in double digits,' he said. With healthy corporate balance sheets and a banking system ready to fund fresh investments, 'the investment cycle is broadening rather than peaking.'Venugopal Manghat, CIO – Equity at HSBC Mutual Fund, is selectively bullish within capex. 'We like power, manufacturing and defence over roads and railways. Ongoing liquidity infusion by RBI, expected rate cuts, and regulatory easing should support NBFCs and banks,' he the consumption front, Manghat is cautious on staples. 'The sector has seen disruption from tech and new formats. With higher disposable incomes, households are shifting toward aspirational and discretionary spending,' he said. He sees greater opportunity in small-cap consumer discretionary plays, citing low penetration and a large unorganised-to-organised transition in the space. ADVERTISEMENT The scorecard since the Budget is clear: while policy seemed to back the consumer, the market has placed its bets on industrial India. And for now, capex is delivering the returns. Also read | Neither largecaps, nor smallcaps! India Inc's Q4 result season belongs to the middle order (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
02-05-2025
- Business
- Time of India
Backed by decades of positive INR returns, is gold set to shine brighter in 2025?
Gold is once again commanding investor attention as global macro uncertainties, currency fluctuations, and central bank purchases continue to strengthen its position as a reliable safe-haven asset. According to recent market analysis and expert commentary, the yellow metal has not only delivered consistent outperformance over the long term but is now poised for another strong year in 2025. Interestingly, gold (in INR terms), has not had a negative decade in INR versus two decades of negative returns for the USD, according to a report by Capitalmind Financial Services. Further, gold's history reveals its dual nature: an enduring store of value and a volatile investment prone to long drawdowns. 'Gold has been a relatively safer asset for Indian investors on account of the Rupee's depreciation versus the USD,' said Anoop Vijaykumar, Head of Research at Capitalmind, highlighting that gold's role in modern portfolios should be part of a strategic, systematic allocation rather than reactive FOMO-driven decisions. The divergence between gold's performance in INR versus USD terms has been stark. Capitalmind's research shows that even in periods where USD returns were negative (e.g., 1980s, 1990s), INR returns remained positive, thanks largely to the rupee's depreciation. Live Events For example, during the 1990s, gold posted a -28% return in USD, but a +85% return in INR. From 1990 to 2002, the USD return on gold was frequently negative, whereas INR returns remained largely in the green. As of 2025, it takes more than 80 INR to buy 1 USD, up from just 8 INR in 1973, highlighting the importance of currency hedging for Indian investors. (Source: Capitalmind Financial Services) Also read: Gold retreats on firm dollar, US payrolls data on tap Gold's increasing demand Nippon India Mutual Fund also shared certain data points that show the yellow metal's growing demand among investors. The data highlights that the industry turnover has tripled since 2018, comparing the prices of the metal on the occasion of Akshaya Tritiya each year. The turnover has increased to Rs 32,541 lakhs in 2025, up from Rs 3,007 lakhs in 2018. Meanwhile, the Nippon Gold ETF accounted for 40–63% of total industry turnover in most years. Further, in 2025, Nippon's volume was also 21 times the industry average (excluding its own). Volumes spike annually around Akshaya Tritiya, also reflecting a shift in consumer behavior — from buying physical gold to investing in digital and paper gold formats like ETFs. Gold outlook for 2025 As per Capitalmind's study, gold is expected to approach USD 3,300 per ounce in 2025, supported by slowing U.S. growth, rising fiscal deficits, and ongoing geopolitical instability. This would mark a sharp rise from the $800/oz levels seen during uncertain periods in 2024. Key drivers supporting this outlook include: Trade War Escalation: U.S. tariffs on Chinese goods (145%) and retaliatory tariffs from China (125%) have increased safe-haven demand. Currency Hedging: Depreciation of the yuan and other emerging market currencies has accelerated gold buying. According to Manoj Kumar Arora, Managing Director at Almondz Global , 'Gold as a commodity is expected to perform well in 2025 despite gold posting a 30% return since last year.' He added that, 'Gold has posted a 15% CAGR return since 2001 and has outperformed inflation by more than 2% to 4% since 1995.' Arora also highlighted continued strong central bank buying as a structural pillar for gold's bullish trend. 'As of March 2025, China holds 2,292 tons while RBI holdings reached a record 879 tons,' he stated, noting that global central banks have been adding 1,000 tons of gold annually over the past three years. 'We believe tariff-driven recession and stagflation risks are forecasted to continue for gold's structural bull run,' Arora added. He recommends investors consider Gold ETFs as a low-cost investment avenue in this environment. Also read: The golden illusion: Know the risks behind gold's safe haven image With elevated central bank demand, tariff-related uncertainties, a depreciating rupee, and geopolitical risks on the horizon, experts maintain a constructive outlook on gold for 2025 and beyond. As history shows, even a modest gold allocation can enhance portfolio stability, especially when markets are in flux. As Capitalmind's report summarises: Portfolios with just a 5–10% allocation to gold often achieve better risk-adjusted returns than equity-only portfolios.
Hans India
30-04-2025
- Business
- Hans India
Gold may touch $3,300 per ounce in 2025 amid global worries; INR returns outshine USD: Report
New Delhi: Gold prices could climb to $3,300 per ounce in 2025, driven by concerns over slowing economic growth in the US, increasing geopolitical tensions, and rising fiscal deficits, a new report said on Wednesday. This has led to renewed interest in gold as a safe investment option, especially as equity markets see corrections, as per a report by Capitalmind Financial Services Private Limited. The report highlights that gold has proven to be a strong and reliable asset for Indian investors over the long term. Despite its price volatility in global markets, gold has consistently delivered positive returns in Indian rupee (INR) terms. In fact, the study points out that gold has never had a negative decade in INR, while it faced two decades of negative returns in US dollar (USD) terms. Anoop Vijaykumar, Head of Research at Capitalmind, said that gold plays a dual role. It acts as a store of value over the long run while also being a volatile asset prone to short-term ups and downs. For Indian investors, however, the depreciation of the rupee against the dollar has made gold a relatively safer bet. 'While gold may not generate cash flows or compound like equities, its low correlation with other assets makes it essential for diversification,' he added. He also advised that the best way to include gold in one's investment portfolio is through systematic rebalancing. This means adjusting gold holdings regularly as part of a long-term strategy, rather than buying out of fear or missing out. The report outlines key reasons for the recent surge in gold prices. One major factor has been the escalating trade war between the US and China. High US tariffs on Chinese goods and retaliatory tariffs by China have pushed investors toward safe-haven assets like gold. Analysts have linked an $800 per ounce surge in gold prices in 2024 to these trade tensions. Additionally, the depreciation of the Chinese yuan also played a role in boosting gold demand, the report said.
