Karvy Private Wealth

About

  • 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”.

Key staff

  • 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.

Services

Wealth Advice Package: Combination of comprehensive financial planning and wealth review & investment strategy.

Investment philosophy (for firm)

Not found

Media

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.

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.

https://www.thenewsminute.com/article/ceo-karvy-private-wealth-other-officials-booked-cheating-103753

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. 

Analyst questions

  • 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 

Date – 

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