Policybazaar now a composite insurance broker after IRDAI final nod
New Delhi: Policybazaar Insurance Brokers, a wholly owned subsidiary of PB Fintech, has now become a composite insurance broker with the insurance regulator IRDAI handing over the certificate of registration to the company.  This latest upgrade from earlier category of direct insurance broker (general and life insurance) to a composite insurance broker will allow Policybazaar to enter reinsurance products selling.

NFO: Bajaj Allianz Life Small Cap Quality Index Fund launched – Check details
Bajaj Allianz Life, one of the leading private life insurers, has launched the Bajaj Allianz Life Small Cap Quality Index Fund NFO which aims to leverage the growth opportunities in Small Cap Equities. The fund objective is to provide investors capital appreciation by investing in companies listed in the Nifty Small Cap 250 Quality 50 Index.

Study abroad? Why it helps buying insurance from India
Nishan Konan (36) had no inkling of the emergency that awaited him in the US. Barely a week after he moved there in July 2022 to do a Master of Science (MS) course in business analytics from the University of Texas, he suffered a heart attack and collapsed. Konan was hospitalized and had to undergo an emergency open-heart surgery. The hospitalization costs were huge but Konan had a health insurance plan, albeit one that was provided by his university and covered all his bills. “The insurance premium was part of the course fee that I had paid. After my recovery, I decided to discontinue the course and move back to India. The university returned the tuition fee, excluding the insurance premium,” Konan says.

Elevated mid, small-cap valuation led Sebi to act
The Securities and Exchange Board of India’s (Sebi’s) recent nudge to the mutual fund industry body, the Association of Mutual Fund in India (Amfi), to sensitise fund houses to be cautious about mid and small-cap schemes comes at a time when stocks in both these segment have been rising steadily and valuations have also gone up significantly.

SEBI chief’s second year: Focus on tech and data-based regulation for ease of doing business
Mumbai: Madhabi Puri Buch’s second year as chairperson of Securities and Exchange Board of India (SEBI) was characterised by a flurry of consultation papers, technology integration and a focus on ease of doing business. A whole-time member of SEBI from April 5, 2017 to October 4, 2021, Buch assumed charge as the SEBI chairperson on March 2, 2022.

Mirae Asset Mutual Fund seeks Sebi's approval for mid, smallcap funds
While the industry has always had large and midcap funds, there is no scheme that offers exposure only to mid- and smallcap stocks.

Keep emergency money ready before investing in any asset class, says Chirag Mehta of Quantum Mutual Fund
When it comes to investing, instead of obsessing about news and events outside your control, it’s important to manage what’s in your control, says Chirag Mehta, CIO, Quantum Mutual Fund.

Inflows into equity mutual funds surged for 35th month in a row: Report
Thanks to a considerable surge in mutual fund inflows, total mutual funds’ assets under management (AUM) hit a whopping ₹52.74 lakh crore last month against ₹50.78 lakh crore in December 2023.

Swan Energy raises over ₹3,300 crore via QIP; LIC, SBI Life among investors
Swan Energy has raised a little over ₹3,319 crore through a qualified institutional placement of shares that was subscribed by institutions such as Life Insurance Corporation, SBI Life Insurance, Quant Mutual Fund, BNP Paribas Mutual Fund, and Goldman Sachs. The shares were issued at a price of ₹670 per share against the floor price of ₹703.29 each. The issue opened on February 20, 2024, and closed on February 28, 2024.

MFs told to disclose stress-test reports of mid, smallcap schemes

The reports, which will also be published on Amfi's website, will have to be disclosed every 15 days.  
 

Oaktree top private credit lender in 2023

Mumbai: OakTree Capital, Kotak Alternative Asset Managers and Varde Partners have emerged as the three biggest lenders in the country's private credit segment last year, according to a report by REDD. Special situations fund Oaktree Capital topped the list, lending$ 1.6billion across five deals. Kotak Alternative Asset Managers followed as the second-largest lender, with a total amount of $866 million across 10 deals fol-lowed by Varde Partners with $791 million across 11 deals, the report revealed. Last year, Oaktree along-with JP Morgan, lent $550 million to Vedanta for refinancing holding company debt. lt also did a $ 361 million asset securitisation deal with Indiabulls Housing Finance. Kotak Alternate Asset Managers lent $129 million to Bio-con Biologics and another $132 million to Bharat Hotels. Varde lent $96 million to GMR airports towards refinancing. It also took part in $1.7 billion loan syndication for Shapoorji Pallonji by private credit funds. The real estate sector accounted for 29.5% of 2023 private credit volume. Vedanta complex's fundraising put the metals and mining sector a close second with a 28.2% share. The utilities sector came in third with 11.2% of total volume, with transactions from issuers like GI Hydro, Steamhouse India, Rattan lndia Power and Essar Power,the report stated. Indian private credit had a record year in 2023, with issuers raising $7.66 billion across 77 deals, according to the data. However, a large chunk of volume was concentrated in outsized deals such as Shapoorji Pallonji Group and Vedanta Resources. 

Why are Mutual Fund houses limiting one-time investments in their smallcap fund?
The recent upsurge in market prices of small-cap stocks has led to significant increases, resulting in valuations exceeding the fair value of the underlying businesses. Consequently, assets under management (AUM) have experienced significant growth. In response to this trend, certain mutual fund houses have taken proactive measures to restrict lump sum or one-time investments, aiming to safeguard investor interests. Recognising the importance of investor protection, the Securities and Exchange Board of India (SEBI) has articulated its concerns and urged mutual funds' asset management companies (AMCs) to adopt preemptive measures to ensure investor protection and market stability.

FDI inflows decline 13% to $32 billion in April-December 2023
Foreign direct investment (FDI) inflows in India declined 13 per cent to USD 32.03 billion in April-December 2023, dragged down by lower infusion in computer hardware and software, telecom, auto, and pharma sectors, according to the latest government data.

FPIs get licence to thrill, lap up $8.7 billion govt bonds in 5 months
Mumbai: Overseas ownership of Indian government bonds climbed about $9 billion in just five months since JP Morgan announced its decision to include local sovereign debt in its emerging markets index, illustrating the attractiveness of fixed-income assets in the world’s fastest-expanding major economy for bulge-bracket funds in a constant global hunt for stable currencies and credible investment options.
 

REC to issue deep-discount bonds to raise Rs 5,000 crore in March

The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely to see strong investor demand, the sources said.

Adani Energy Solutions aims to raise about $400 mn via oversees bonds

Indian billionaire Gautam Adani’s conglomerate is looking to raise roughly $400 million through the private placement of overseas bonds, according to people familiar with the matter.