- Karvy Private Wealth is the wealth management division of Karvy Group and was founded in 2010.
- The headquarters for the company is located in Mumbai with branch offices in 8 other cities across India. The company employees total more than 600+ people. The total assets under management (AUM) are more than 3 billion USDs as per a report published in 2019. As per a report published by Asian Private Banker in 2019, the total number of relationship managers were 272.
- They offer services to HNIs and UHNIs both domestic and international.
- Karvy Private Wealth (A division of Karvy Stock Broking Limited): Operates from within India and is subject to Indian regulations. SEBI registration No’s:”NSE(CM):INB230770138, NSE(F&O): INF230770138, BSE: INB010770130, BSE(F&O): INF010770131,NCDEX(00236, NSE(CDS):INE230770138, NSDL – SEBI Registration No: IN-DP-NSDL-247-2005, CSDL-SEBI Registration No:IN-DP-CSDL-305-2005, PMS Registration No.: INP000001512”.
- Abhijit Bhave (CEO): Abhijit has more than two decades of experience in the financial services industry. He has a PGDM in Finance and Marketing from IIM, Lucknow. Abhijit Bhave LinkedIn
- No Chief Investment Officer (CIO) found for on company website or LinkedIn.
- Comprehensive Financial Planning: Analyzing financial health and planning investment goals for the future.
- Wealth Review and Investment Strategy services: A review of current wealth based on investment objectives and risk appetite.
- Equity Review & Investment Strategy: Analysis of existing equity portfolio and creation of portfolio summary in case restructuring is required.
- Mutual Fund Review & Investment Strategy: Analysis of existing mutual fund review.
- Wealth Planning for Retired Individuals: Thorough analysis of profile keeping in mind factors such as life expectancy, contingencies etc. and finding the right asset allocation strategy.
Investment philosophy (for firm)
- ‘There will be no impact on Karvy Private Wealth after Karvy Stock Broking episode’, CafeMutual, December 8, 2019 https://cafemutual.com/news/cafe-alt/17910-there-will-be-no-impact-on-karvy-private-wealth-after-karvy-stock-broking-episode
Abhijit Bhave discusses the impact of Karvy Stock Broking crisis on the business of Karvy Private Wealth as a large portion of the client’s wealth is in third party products.
- Individual wealth in India grows 9.62% in FY19: Karvy Private Wealth, The Economic Times, October 16, 2019. https://economictimes.indiatimes.com/markets/stocks/news/individual-wealth-in-india-grows-9-62-in-fy19-karvy-private-wealth/articleshow/71613293.cms
Karvy Private Wealth in its India Wealth Report 2019 highlights the growth in wealth by financial assets rather than physical assets and discusses the top destinations for asset allocation.
Karvy officials were accused of cheating investors by promising a return of 18-20%. Karvy Group produced a statement regarding the same saying that the company is doing everything in its power to recover the money.
- What is inherent in Karvy’s capabilities? Does the departure of Shantanu Awasthi affect the dynamics of the workplace in any way?
- What is Karvy’s investment philosophy? Is the same shared with the clients in written form?
- How do you think the investment landscape is going to evolve for HNW individuals over the next few years?
- How do you go about adding the alpha? Or how do you select products that will outperform in the future?
- CEO of Karvy Private Wealth, other officials booked for cheating, The News Minute, June 17, 2019
Prepared by – Chaitanya
Date – February 27, 2020
Peer reviewed by – Madhav Patel