About
Deutsche Bank established its first branch in India in 1980 and currently operates branches in 16 cities. Client centricity: They are structured around the clients that they serve – corporate clients, private clients, and fiduciaries & institutions.
Private wealth management develops investment solutions for financially sophisticated ultra-high net worth individuals (UHNWs) and family investment offices. Global and cross asset-class coverage across fixed income, FX, equities, commodities, and alternatives.
Relationship Managers: 21
AUM Size: $2.5 Bln
NBFC License, Stockbroker, Merchant Banking, Research Analyst.
Key staff
Atinkumar Saha – Managing Director and Head of Wealth Management –
Kaushik Shaparia, CEO of India Division – He did his MBA from IIM-Ahmedabad, having more than 36 years of work experience in financial service across commercial and investment banking. He has well-round experience in banking. Linkedin
Sagar Singh – Chief Investment Officer at Deutsche Bank – He did his engineering from IIT-Delhi, Diploma in Management (Finance) from ESCP business school, currently pursuing CFA. He has 7 years plus of experience in the private wealth management industry. Developed investment solutions for financially sophisticated ultra-high net worth individuals (UHNWs) and family investment offices. Global and cross asset-class coverage across fixed income, FX, equities, commodities and alternatives.
Services
Private and Commercial Business, Deutsche Bank Wealth Management
Investment philosophy (for firm)
The website doesn’t mention an investment philosophy per se.
However, it does elaborate on its process –
‘Deutsche Bank is pleased to refer to you Portfolio Management Services from reputed third party providers (fund houses / financial institutions), who, for a fee, invest your money after scientifically analyzing the pros and cons of the various options.
Expert Fund Management – Funds are managed by experienced fund managers who use sound investment strategies to invest your money smartly.
Professional Management – PMS products referred by Deutsche Bank combine the benefits of professional money management with the flexibility, control and potential tax advantages of owning individual stocks or other securities. The portfolio managers take care of all the administrative aspects of your portfolio with a monthly or semi-annual reporting on the overall status of the portfolio and performance.
Continuous Monitoring – The fund managers and research team keep a constant watch on your money. This team knows exactly how your money is performing through continuous monitoring. This information is sent by the fund houses through:
- Communications that include relevant information on major market events
- Quarterly or semi-annual performance updates.
Investment strategy
- The company recommends 5 different PMS where two of the funds focus on value investing which are long-term winners, large-cap stocks, with a strong economic moat, quality, and sustainable earnings, filters based on ROCE, ROE, Cash flows, and required safety of margin.
- Another fund has a major inclination towards small and mid-cap which focuses on emerging sectors/ stocks. The strategy is to buy and hold which has the potential of high growth business at a reasonable valuation.
- Other fund focuses on the long term which is deeply rooted in understanding businesses and market cycles in India which has potential to grow faster rate than the economy. It is expected to have positive cash flows from operations, sustainable competitive through entry barriers, and visibility of earnings for the next 2-3 years.
- Another fund invests in Indian entrepreneurial business of size, superior quality, and high growth at fair valuations. Look at a business that enables growth from both market share gains and growth of the opportunity size. Look at the Promoter who has adequate skin in the game ensures alignment of management and shareholder interests.
Funds are picked up based on their client’s unique requirements such as their investing goals, risk appetite, time horizon, and return expectations.
Media
Hiring into the Indian WM team, Nov 2019
Hubbis, Nov 2018
https://hubbis.com/article/re-engineering-the-wealth-management-model-for-foreign-banks-in-india
Analyst questions
- How do you analyze the PMS, what are the factors you look in, what made you pick those above-mentioned funds?
- Do these funds do tactical asset allocation, if so how?
- How long a fund is being recommended and what might be the reasons to remove the fund from the recommended list?
Prepared by – Subramanian.K, Mar 2021
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