• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Ravi Ranjan Prasad

Mumbai, June 4 High net worth individuals (HNIs) are re-entering the equity markets taking a cue from recent developments, said fund managers.

More HNIs are warming up to the idea of investing in equity after the rally witnessed in the stock market from the second half of March. The developments that have followed the new government formation have made more HNIs to make enquiries with their fund mangers.

ING Investment’s new offering ‘ING India Large Cap Quantitative Portfolio Fund’, has received investments from around 300 HNIs since its launch in the last week of March, and its corpus is nearly Rs 50 crore, Mr Navin Suri, Chief Executive Officer, ING Investment Management (India) Pvt Ltd said.

The investments in the above scheme have come not only from Delhi and Mumbai but from other 19 cities including Madurai, Ludhiana, Surat, Chandigarh, Lucknow.

The collections have come at an average ticket size of Rs 20 lakh, much above the minimum investment limit for the scheme, fixed at Rs 10 lakh. Following this, the minimum ticket size on the scheme has been raised to Rs 25 lakh from June 1.

“We have clients who have approached us for top-ups,” Mr Suri added.

Among the broking firms offering portfolio management services too, existing clients are going for top-ups.

“We have seen funds coming in, and existing clients are going for top-ups,” said Mr P. Phani Sekhar, Fund Manager-Portfolio Management Service, Angel Broking.

“The existing HNI clients who were dormant (during the market meltdown last year) have become active now,” said Ms Vaishali Pitale, Vice-President (Privileged Client), BRICS Securities.

“Confidence is coming back among the HNIs, both here as well as abroad, especially from the Middle-East. We are receiving enquiries from Dubai,” Mr Mehraboon Jamshed Irani, Senior Vice-President (Equity), FCH Centrum Wealth Managers Ltd, said.

Those HNIs who have missed the first leg of the market rally don’t want to be left out.

“The fresh enquiries from these HNIs are not for frontline stocks, there are a lot of queries for tier-two stocks within the BSE A group,” Ms Pitale said.

(BSE A group comprises the top 200 stocks in terms of average market capitalisation and average daily turnover for last three months.)

More Stories on : Investments | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line