Religare Macquarie Private Wealth brings overseas investment options for HNIs for the first time in India
Religare Macquarie Private Wealth becomes lead distributor for Macquarie Global Investment Service (GIS)
New Delhi, September 29, 2009: Religare Macquarie Private Wealth today opened the gates for India’s personal investors to access a new investment service, called the Macquarie Global Investment Service (GIS). This is the first time such an investment option, offered by an overseas organisation, has been available in India and Religare Macquarie Private Wealth will be the lead distributor.
Created and managed by Macquarie Investment Services Limited, a Sydney based portfolio manager forming part of the Macquarie Group, the Macquarie GIS is a discretionary investment management service. It provides its clients access to innovative global investment opportunities by utilising Macquarie’s unique partnerships around the world.
The CEO of Religare Macquarie Private Wealth, Mr Vikas Agnihotri, said he was delighted to be able to open up this new opportunity for local investors to gain access to overseas investments they otherwise would not have had exposure to.
Mr Agnihotri said; “Through the Macquarie GIS, Indian investors can access three attractive investment themes, including those that could see them benefitting from global markets whether they rise or they fall and investing alongside large and powerful institutions.”
Through the service, Macquarie Investment Services Limited manages each client’s account, removing both the complexity of researching, selecting and monitoring the underlying investments and taking away the administrative burden. For those who do not have the time or the experience to select and manage such a diverse portfolio of investments, the Macquarie GIS can provide an important service.
Macquarie Global Investments Executive Director, Mr Craig Swanger, said this service gives Indian investors access to Macquarie’s extensive investment management expertise and market knowledge, with an entry level of only US$20,000.
Mr Swanger said; “Macquarie is known globally for its investment experience, along with other capabilities, and through this service, Religare Macquarie Private Wealth is providing Indian investors with the opportunity to gain direct access to that knowledge. India’s personal investors are highly astute and are looking for unique opportunities to grow their wealth, so this is the first of a series of investment options we aim to provide to this market.”
According to a recent report by international consultancy firm Celent*, Indians are expected to have one trillion dollars worth of investable wealth by 2012. For wealth managers, the number of potential clients they are able to assist in managing their wealth and the size of that wealth are both expected to grow four times through 2012.
According to the report, the ultra-high net worth households with wealth in excess of US$30 million would have a total population of 10,500 households by 2012, while the super high net worth households US$10 to 30 million are expected to grow to 42,000.
The population of high net worth households (US$1 to10 million) would grow to 3,20,000, while there would be 3,50,000 households in the super-affluent category (US$ 100,000 to 1 million).
About Macquarie Global Investment Service (GIS)
For launch, the service will have three attractive underlying investment themes, with the aim of changing and growing these options alongside key market trends. Clients using the Macquarie GIS will have the choice of all investment options, either a single investment
option or a blend of one or more of the available options.
The investment themes for launch include an absolute return strategy, a cash strategy and the opportunity to co-invest alongside large institutional investors.
The co-investment opportunities are sourced by Macquarie internationally through its unique deal pipeline and extensive relationships. This opens up opportunities in areas such as infrastructure and private equity, which are usually only available to large institutions like asset managers and sovereign wealth funds.
The absolute return strategy employs investment methods with a low correlation to the traditional buy and hold approach. This means it has the potential to generate returns in both rising and falling markets. By investing in a broad range of global asset classes, the strategy can offer diversification and help manage risk within a portfolio, without relying on rising markets to generate returns.
The Macquarie GIS’s cash strategy, which offers capital security and a high level of liquidity, can be used as a holding place until other investment decisions are made.
The Macquarie GIS is accessible by investors directly through Religare Macquarie Private Wealth as lead distributor for the service.
For more information about Religare Macquarie Private Wealth please visit www.religaremacquarie.com
About Religare Macquarie Private Wealth
Religare Macquarie Private Wealth (RMPW) is the coming together of Religare and Macquarie. At RMPW, we have designed a refreshing whole new approach for managing, growing and preserving your wealth. It is dynamic yet thoughtful, tailored yet broad natured, brisk yet measured. An approach which is symbolic of the ethos of diligence and forward thinking, and strives to be constantly alert to opportunities with “eyes and ears” to the ground. At Religare Macquarie, we call this ‘Active Wealth Management’.
While Macquarie has a fine heritage of product innovation and investment finesse, Religare offers a comprehensive suite of customer-focused financial products and services targeted at retail investors, high net worth individuals and corporate and institutional clients. Quite naturally, when the two combine, what emerge are innovative solutions and a disciplined approach to managing, preserving and building the wealth of the Indian HNI’s.
For more details please visit www.religaremacquarie.com
Religare Enterprises Limited proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make a rights issue of its equity shares to its existing shareholders and has filed a draft letter of offer (“DLOF”) with the Securities and Exchange Board of India (“SEBI”). The DLOF is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the lead manager at www.enam.com. Investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the section titled “Risk Factors” of the DLOF.”
* Acquired by Oliver Wyman in February 2008, Celent is a research and advisory firm formed in 1998 based out of Massachusetts, United States. It is dedicated to helping financial institutions formulate business and technology strategies. Its analyst team is organized by financial services industry vertical: Banking, Securities & Investments, and Insurance. The company publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies.
For further details, contact:
Subhrangshu Neogi
Director, Brand & Corporate Communications
Religare Enterprises Limited
Hand Phone: +91-9910993925
Email - subhrangshu.neogi@religare.in
Laura Bramwell
Public Relations
Macquarie Banking and Financial Services Group
Fixed Line: +61 2 8232 3835
Email - laura.bramwell@macquarie.com
Macquarie Investment Services Limited ABN 73 071 745 401 (MISL) has no local presence in India and does not hold any registration/licence with a financial services regulator in India. The Macquarie Global Investment Service (Service) referred to in this document is not being offered as an Indian regulated product or service.
The Service is marketed to Indian investors by local distributors appointed by MISL and Religare Macquarie Private Wealth and those sub-distributors appointed by distributors with the consent of MISL. This document does not constitute an offer to provide a service in any place, where, to any person to whom, it would not be lawful to provide such a service.
This document does not constitute financial product advice and should not be relied upon as such. The information in this document is for discussion purposes only and is not an offer or solicitation to purchase or sell any securities
or financial product. None of the information in this document takes into account any person’s/entity’s personal objectives, financial situation or needs and you must determine whether the information is appropriate in terms of your particular circumstances. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.
Investments made through the Service are not deposits with or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL) or any other Macquarie Group company and are subject to investment risk, including
possible delays in repayment and loss of income or principal invested. Neither MBL, MISL, nor any other member company of Macquarie Group guarantees the repayment of capital or the performance or any particular rate of
return from the investments purchased through the Service.
Macquarie Bank Limited (“MBL”) is authorised by The Australian Prudential Regulation Authority in the Commonwealth of Australia and each of MBL and Macquarie Bank International Limited is authorised by The Financial Services Authority in the United Kingdom, to carry out banking business or to accept deposits in those respective jurisdictions. Macquarie Group is not otherwise currently authorised to carry out banking business or to accept deposits in India.
