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Wednesday, Jul 02, 2003

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Hexagon to focus on high net worth individuals

Rukmini Priyadarshini


THE city-based Hexagon Capital Advisors, a wealth management company, is increasing its focus on high net worth (HNW) individuals this year.

With about Rs 250 crore being `managed' by it this year, the company is targeting individuals requiring advise on investing at least Rs 1 crore, said Mr Srikanth Bhagavat, Managing Director.

"Naturally, the relationship will start small— with about Rs 2 lakh — and once we show clients the value we can add, the engagement will scale up rapidly,'' he said. He says people with Rs 1 crore to spare are not as rare as might be expected in IT-rich Bangalore.

Apart from managing the treasury for corporates and trusts — schools, charitable institutions, temples etc — Hexagon is confident of increasing the proportion of HNW individuals in its portfolio. "We provide advise on controlling the risk in investing and try to get higher returns for clients,'' says Mr Bhagavat.

Hexagon's services include treasury management, investment planning, risk profiling, decision support for investing, market evaluation, fund research and evaluation, post-sale portfolio monitoring and tracking and logistics support.

"We have Web-enabled our tracking software and customers can remotely log-in to monitor the progress and growth of their investments, says Mr Bhagavat. The performance is updated on a daily basis and since the information is up-to-date and transparent, our customers can have the information at their finger tips.''

The company offers advice on investing in cash, bonds, equity funds, equities, and property.

"There is a perceptible shift in investor preference towards equity in the past couple of months,'' says Mr Bhagavat. With over 75 corporates, trusts and HNW clients, Mr Bhagavat is happy about the shift towards equity investing.

"The lowering of interest rates and the undervalued stocks make for a potent investment attraction,'' he says, adding that property too is a popular investment choice for his clients.

Certain suburban areas of Bangalore, especially vacant lots, have shown appreciation of 20-60 per cent in the past year and with construction activity set to continue, the appreciation will continue to be profitable for investors, he said. Within the city, however, there has been little or no appreciation and, in fact, there is likely to be excess commercial space very soon, he said.

Hexagon, which has garnered clients so far by word of mouth and through direct mailers, expects the interest in investing to continue.

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