Edelweiss Asset Management (MF)

About

Edelweiss Asset Management Limited is owned and managed by Edelweiss Financial Services Limited, an Indian conglomerate operating in the financial services sector of the company since 1996. 

As of March 30th, 2023, it had an AUM of Rs 1 Lakh crore (~ $13.5 billion @ 82 INR per USD) spread across 41 mutual fund schemes, of which 12 are equity, 4 are hybrid, 14 are debt, and 11 are other.

 Key details from financial statements for FY 21-22 –

Total income (INR crores)Total Expense (INR crores)EBIT  (INR crores)EBIT MarginNet Profit (INR crores)Total Income (USD millions)Total Expense (USD millions)Net Profit (USD millions)
120.40115.624.784%4.7816.0515.420.64

In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management. In 2016, it completed the acquisition of fund schemes of JP Morgan Asset Management India. In 2019, it was awarded the mandate for India’s first corporate bond ETF, Bharat Bond – A Government of India initiative. In 2020, It was the first AMC to bring MSCI – world’s leading index provider – to the Indian market. In 2021, they were India’s first to launch Target Maturity Index Fund and managed Rs. 50,000 crore assets for their investors.

Key staff

Radhika Gupta, MD & CEO – she has more than 15 years of global asset management experience. She started her career with global giants McKinsey and AQR Capital, and then moved to India to start Forefront Capital Management, India’s first registered domestic hedge fund. She joined Edelweiss Group, after the acquisition of Forefront, scaling up the hedge fund business and also leading two asset management acquisitions – JP Morgan and Ambit Capital. She became the CEO of the mutual fund business in 2017. She graduated from the Management and Technology Program at the University of Pennsylvania, with the highest honours, and joint degrees in Economics from the Wharton School and Computer Science Engineering from the Moore School.

Trideep Bhattacharya CIO, Equities – he has over twenty years of experience in equity investing across Indian and global markets. Prior to joining Edelweiss AMC, he was instrumental in building a market leading PMS business at Axis Asset Management Company, as Senior Portfolio Manager – Alternate Equities. He has also spent a significant amount of time as a Portfolio Manager at State Street Global Advisors and UBS Global Asset Management (London, UK). He holds a PGDBM in Finance from SP Jain Institute of Management & Research, Mumbai and B.Tech in Electrical Engineering from IIT, Kharagpur.

Dhawal Dalal, CIO of Fixed Income – he had joined Edelweiss Asset Management Limited in the year 2016. He is responsible for the overall growth of fixed income assets through a healthy mix of retail and institutional clients. Before joining Edelweiss, he was the head of Fixed Income at DSP BlackRock Investment Managers Private Limited and led a team of Fund Managers managing fixed income assets. He has over 20 years of experience and an MBA from University of Dallas (USA). 

Investment philosophy

https://www.edelweissmf.com/assets/pdfIP/Edelweiss%20MF%20Equity%20Investment%20Philosophy%20&%20Process.pdf

For equities – “Our FAIR investment framework helps in identifying Robust and clean businesses available at acceptable prices and also keeps us informed on their ESG standings. What we don’t do – take out-sized sector bets, Macro calls, Cash-calls.” F stands for forensics, A for acceptable price, I for ESG informed, R for robustness.

https://www.edelweissmf.com/assets/pdfIP/Fixed%20Income%20Investment%20Philosophy.pdf

For fixed income – “We manage your money with a CLEAR process and philosophy.” C is avoid credit risk, L is ensure liquidity, E is ensure synergy with edelweiss principles, A is actively managed funds with care and in line with the investment mandate, R is maintain the perfect balance between risk and reward.

Media

Edelweiss Mutual Fund Multi-Asset Allocation Fund: Know Key features; NFO Is Open till June 19, Outlook, June 2023

https://www.outlookindia.com/business/edelweiss-mutual-fund-multi-asset-allocation-fund-know-key-features-nfo-is-open-till-june-19-news-292302

Edelweiss Mutual Fund has launched the Edelweiss Multi-Asset Allocation Fund, with its new fund offer (NFO) open until June 19, according to Outlook India. The fund aims to provide investors with a diversified portfolio across multiple asset classes, including equity, debt, and gold. It offers different plans to cater to varying risk appetites and investment horizons. The fund will be managed by a team of experienced professionals who will actively allocate assets based on market conditions and investment opportunities. The Edelweiss Multi-Asset Allocation Fund provides investors with the potential for capital appreciation and the benefits of diversification.

Radhika Gupta’s Edelweiss MF shifts focus to multi-asset allocation fund after debt taxation change, Moneycontrol, June 2023

https://www.moneycontrol.com/news/business/personal-finance/radhika-guptas-edelweiss-mf-shifts-focus-to-multi-asset-allocation-fund-after-debt-taxation-change-10726571.html

According to moneycontrol, Edelweiss Mutual Fund, under the leadership of Radhika Gupta, has shifted its focus towards multi-asset allocation funds following the changes in debt taxation. The company believes that multi-asset allocation funds offer better tax efficiency and flexibility compared to traditional debt funds. Edelweiss Mutual Fund aims to provide investors with diversified investment options that include equity, debt, and other asset classes like gold. The shift in focus is in response to the changing investment landscape and the need for more comprehensive and tax-efficient investment solutions.

Edelweiss Mutual Fund launches three passive equity funds, on Nov 09, 2022

https://economictimes.indiatimes.com/mf/mf-news/edelweiss-mutual-fund-launches-three-passive-equity-funds/article show/95400251.cms
According to the fund house, these equity index funds can be used to create a low-cost multi-cap portfolio. Edelweiss Nifty Next 50 Index Fund, Edelweiss Nifty Midcap 150 Momentum 50 Index Fund, and Edelweiss Nifty Smallcap 250 Index Fund were added to the list.

BHARAT Bond ETF series III: Collections cross Rs 6,200 cr, Dec 22, 2021

https://www.moneycontrol.com/news/business/mutual-funds/bharat-bond-etf-series-iii-collections-cross-rs-6200-cr-overwhelming-response-says-edelweiss-of-MD-7808871.html
The third tranche of Bharat Bond ETF (BBE3) has received an “overwhelming response,” with collections crossing Rs 6,200 crore, Edelweiss Mutual Fund MD and CEO Radhika Gupta said on December 9.

Prepared by Rahul Sharma, June 2022

Updated by – Sattik Mukherjee, December 2022, Ganesh Hulke, June 2023

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