Latest news with #ShriramGroup
Yahoo
3 days ago
- Business
- Yahoo
Shriram Group, Sanlam establish wealth management venture in India
Shriram Group has entered the wealth management sector through a partnership with South Africa's Sanlam Group, targeting India's affluent and high-net-worth individuals (HNIs). The 50:50 JV, named Shriram Wealth, aims to achieve Rs500bn ($5.84bn) in assets under advice (AUA) and recruit 500 wealth management professionals over the next five years. Shriram Wealth will offer a range of services, including mutual funds, alternative investment funds, portfolio management, lending solutions, protection plans, global investment opportunities, and legacy planning. Operations will begin in the top ten cities, with plans to expand to ten more cities within a year, focusing on both metropolitan and emerging Tier 2 and Tier 3 markets. The JV will cater to three client categories, including mass affluent clients with assets between Rs1m and Rs20m, high-net-worth individuals with assets from Rs20m to Rs250m and ultra-high-net-worth individuals with assets exceeding Rs250m. The management has recruited professionals with 15 to 20 years of experience in banking and non-banking sectors, aiming to leverage their client base and diverse product offerings to explore new demographics. Shriram Wealth managing director and CEO Vikas Satija said: 'Currently, only about 15% of financial assets in India are professionally managed, compared to 75% in mature global markets.' Last month, Sanlam formed a partnership with Shriram Asset Management Company (Shriram AMC), a division of the Shriram Group. Shriram AMC offers a range of financial services, including commercial vehicles, consumer finance, life and general insurance, stock broking, chit funds, and financial product distribution. "Shriram Group, Sanlam establish wealth management venture in India" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hindu
3 days ago
- Business
- The Hindu
Shriram Group forays into wealth management through joint venture with Sanlam
Shriram Group announced its entry into a wealth management business though its joint venture with South African financial services company Sanlam, on Thursday. Sanlam will have a 50% stake in the joint venture. 'With Shriram Wealth, our vision is to be the most trusted partner, maximizing client wealth and create value that endures over time,' said Vikas Satija, Managing Director & CEO of Shriram Wealth. The company targets a ₹50,000 in Asset Under Advice (AUA) in the next five years, according to the statement. 'The venture will begin operations in India's top 10 cities, expanding to 20 cities in next year, with a strong focus on Tier 2 and Tier 3 markets — regions where Shriram Group has long-standing brand equity,' the statement read.
Mint
3 days ago
- Business
- Mint
South Africa's Sanlam sharpens India focus with Shriram wealth management JV
India's Shriram Group and South Africa's Sanlam Group on Thursday announced the launch of a wealth management joint venture firm, which aims to have ₹ 50,000 crore in assets under advice over the next five years. Shriram Wealth, a 50:50 a joint venture between the two groups, is already operating in nine cities, and aims to soon expand to Nagpur and Coimbatore as well, as the company eyes India's growing affluent and high net worth investor base. With a strong focus on expanding into tier-II and tier-III cities and catering to a broad base of investors, Shriram Wealth is looking to scale rapidly. Sanlam Group is focused on three core markets—its home base South Africa, the broader African continent, and India, says Thian Fick, executive for India and Group Initiatives at Sanlam. He noted that with India's large population, strong demographics, and robust economic growth, the country's current 20% contribution to the group's business is set to grow significantly. Fick told Mint that sluggish economic growth in South Africa has pushed the group to seek opportunities elsewhere. 'That's where the strategy comes from–focusing on Africa beyond South Africa, and India–two markets where we believe our partnerships position us well for success,' he said. 'Simply, the growth rates of India relative to South Africa will make this contribution grow way beyond the 20% over time.' Vikas Satija, managing director and chief executive, Shriram Wealth, pointed out that high net worth individuals in the affluent segment are expanding at a compounded annual rate of 13-14%. When asked about the listing plans for Shriram Wealth, Satija said it is still early to discuss a timeline, but emphasized that the business is clearly built with a long-term vision. He added, 'Eventually, yes, listing could be part of the plan. I don't want to put my neck out and say whether that's in 7, 10, or 20 years—but at some stage one would want to. One goes to the market to raise capital and if you don't need capital, you may not go to the market.'
Yahoo
29-05-2025
- Business
- Yahoo
Sanlam invests in Indian asset management firm Shriram AMC
South African asset manager Sanlam has entered into a strategic partnership with Shriram Group's business unit, Shriram Asset Management Company (Shriram AMC). Shriram AMC operates in various financial services, including commercial vehicles, consumer finance, life and general insurance, stock broking, chit funds, and financial product distribution. Under the deal, Shriram AMC has preferentially allotted 3.89 million equity shares to Sanlam Emerging Markets (Mauritius) (SEMM), resulting in a capital infusion of Rs1.05bn ($12.2m). This investment grants SEMM a 23% direct stake in Shriram AMC, marking its entry as a co-promoter alongside Shriram Credit Company Limited (SCCL). Consequently, the total promoter shareholding has risen from 62.55% to 71.17%, prompting a reconstitution of Shriram AMC's board to include representatives from Sanlam. The partnership is part of Shriram Group's strategy to enhance its financial services portfolio. Shriram AMC managing director and CEO Kartik Jain said: 'Leveraging its expertise in both quantitative and fundamental analysis, Sanlam will enhance the sophistication of Shriram AMC's investment processes and help deliver relevant and differentiated investment solutions to the right customer segments.' In 2022, the group had already secured an investment from Mission1 Investments, which acquired a 23% stake in Shriram AMC. This latest investment from Sanlam is seen as a continuation of the group's efforts to strengthen its asset management business and create a comprehensive platform for asset management services. Sanlam Investments CEO Carl Roothman said: 'We see India as a strategic growth market, and our partnership with Shriram AMC reflects our commitment to co-creating investment excellence, particularly in emerging markets. 'With over two decades of successful collaboration between the Shriram Group and Sanlam, this partnership builds on a long-standing legacy of trust, and a mutual vision to create impactful investments that benefit society.' The collaboration between Shriram Group and Sanlam is built on over two decades of joint ventures in various sectors, including financing, life insurance, and general insurance. In November 2024, Sanlam signed a binding agreement with Ninety One to establish a long-term partnership, making Ninety One the primary active investment manager for Sanlam's single-managed local and global products. "Sanlam invests in Indian asset management firm Shriram AMC" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
&w=3840&q=100)
Business Standard
27-05-2025
- Business
- Business Standard
Sanlam invests Rs 105 crore for 23% stake in Shriram Group's AMC arm
South Africa's Sanlam has invested Rs 105 crore for a 23 per cent stake in Shriram Group's asset management arm. The transaction marks the entry of Sanlam, an asset manager having over USD 80 billion under management, into the Indian market. It has an over 2-decade partnership with the Chennai-based diversified financial services group. With the investment, Sanlam becomes a co-promoter in Shriram Asset Management Company (AMC) with ShriramCredit Company, a statement said. The overall promoter stake in the listed company will increase to 71.17 per cent from the 62.55 per cent currently, it added. Sanlam Emerging Markets (Mauritius) was allotted 38.89 lakh shares in a preferential allotment, the statement said. It can be noted that the Indian AMC space has been attracting a slew of global players, and Blackrock was among the last major investors to enter the fray through a tie-up with Jio Financial Services. The last few years have seen a steady increase in the Indian AMCs' AUM. The capital raised from Sanlam will be utilised for expanding offerings and attracting talent, the Shriram Group statement said. "Leveraging its expertise in both quantitative and fundamental analysis, Sanlam will enhance the sophistication of Shriram AMC's investment processes and help deliver relevant and differentiated investment solutions to the right customer segments," Shriram AMC's managing director and chief executive Kartik Jain said. He termed the fund infusion a "strong endorsement" of the company's "quantamental approach" that fuses data science with fundamental insights. Shriram AMC's board will be reconstituted to include Sanlam's representatives, it said. Sanlam Investments' chief executive Carl Roothman said India is a strategic growth market for the group, and added that this partnership builds on a long-standing legacy of trust, and a mutual vision to create impactful investments. Shriram AMC had previously received funding from Mission1 Investments LLC in 2022 for a 23 per cent stake. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
