Latest news with #AIFs
Time of India
a day ago
- Business
- Time of India
Kotak Bank launches solitaire programme for rich Indian families
Mumbai: Kotak Mahindra Bank has unveiled Solitaire, an exclusive, invitation-only banking initiative aimed at India's affluent households. Eligibility hinges on maintaining a relationship value exceeding Rs 75 lakh for salaried individuals and Rs 1 crore for the self-employed, which is across grouped family holdings. A unique feature is that, the programme permits the inclusion of up to 14 family members, offering one of the most expansive familial coverages in the domestic wealth management landscape. It offers a suite of financial privileges, including access to alternative investments, home loan benefits, premium credit cards, and personalised wealth management services. Members can invest up to $ 250,000 abroad annually and make outward remittances of up to $ 50,000 with relative ease. Kotak provides an invite-only Solitaire credit card that earns 10 air miles per Rs 100 spent on flight and hotel bookings through the Kotak Unbox platform. International spending is made cost-effective with a 0% forex markup. Members of the Solitaire program can be referred to investment opportunities such as Alternative Investment Funds (AIFs) through Kotak group companies. The program offers access to pre-approved home loans of up to Rs 7.5 crore, with a streamlined application process designed to reduce turnaround time. Financial flexibility is another key feature, with a pre-approved credit line of up to Rs 25 lakh, where interest is charged only on the amount utilised. The program also extends access to Kotak Life Insurance plans, including term and annuity products. A dedicated relationship manager is assigned to each member, offering personalised assistance across banking, investment, and insurance needs. The program includes enhanced banking facilities such as the ActivMoney feature, which automatically transfers idle balances above Rs 3 lakh into fixed deposits to earn higher returns. Members can also request Solitaire-branded debit cards and chequebooks, and extend credit card benefits to up to three family members. Eligibility for Kotak Solitaire is by invitation and is based on the individual or family's overall Relationship Value with the bank. This includes balances in savings and current accounts, fixed deposits, mutual funds, life insurance premiums paid, 30% of sanctioned loans (including home loans and working capital), and 30% of Demat holdings through Kotak Securities. The relationship value can be aggregated across family members, including spouse, children, parents, daughter-in-law, and minors (as non-primary holders). HUF accounts are eligible if the Karta is included, and CRNs for business accounts can be grouped if at least one partner, proprietor, or director is shared. Membership status is reviewed every six months. If the Relationship Value falls below the required threshold, Solitaire benefits may be withdrawn after prior notice. The Solitaire credit card's annual fee is waived as long as eligibility is maintained. If the member is downgraded and no longer qualifies, an annual fee of Rs 25,000 applies unless separate card eligibility criteria are met. The default threshold for ActivMoney is Rs 3 lakh, with sweep-ins directed to 180-day term deposits (or one-year deposits for NRE accounts). If an upgrade occurs, members must reset these thresholds manually. Insurance policies offered under the program are underwritten by Zurich Kotak Life Insurance and are not bank-guaranteed. The purchase of insurance products is entirely voluntary. All services, including credit facilities and investment referrals, are subject to the bank's discretion and governed by internal policies and applicable RBI regulations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
a day ago
- Business
- Time of India
Kotak Bank launches new wealth management for big Indian families
Mumbai: Kotak Mahindra Bank has unveiled Solitaire, an exclusive, invitation-only banking initiative aimed at India's affluent households. Eligibility hinges on maintaining a relationship value exceeding Rs 75 lakh for salaried individuals and Rs 1 crore for the self-employed, which is across grouped family holdings. A unique feature is that, the programme permits the inclusion of up to 14 family members, offering one of the most expansive familial coverages in the domestic wealth management landscape. It offers a suite of financial privileges, including access to alternative investments, home loan benefits, premium credit cards, and personalised wealth management services. Members can invest up to $ 250,000 abroad annually and make outward remittances of up to $ 50,000 with relative ease. Kotak provides an invite-only Solitaire credit card that earns 10 air miles per Rs 100 spent on flight and hotel bookings through the Kotak Unbox platform. International spending is made cost-effective with a 0% forex markup. Members of the Solitaire program can be referred to investment opportunities such as Alternative Investment Funds (AIFs) through Kotak group companies. The program offers access to pre-approved home loans of up to Rs 7.5 crore, with a streamlined application process designed to reduce turnaround time. Financial flexibility is another key feature, with a pre-approved credit line of up to Rs 25 lakh, where interest is charged only on the amount utilised. The program also extends access to Kotak Life Insurance plans, including term and annuity products. A dedicated relationship manager is assigned to each member, offering personalised assistance across banking, investment, and insurance needs. The program includes enhanced banking facilities such as the ActivMoney feature, which automatically transfers idle balances above Rs 3 lakh into fixed deposits to earn higher returns. Members can also request Solitaire-branded debit cards and chequebooks, and extend credit card benefits to up to three family members. Eligibility for Kotak Solitaire is by invitation and is based on the individual or family's overall Relationship Value with the bank. This includes balances in savings and current accounts, fixed deposits, mutual funds, life insurance premiums paid, 30% of sanctioned loans (including home loans and working capital), and 30% of Demat holdings through Kotak Securities. The relationship value can be aggregated across family members, including spouse, children, parents, daughter-in-law, and minors (as non-primary holders). HUF accounts are eligible if the Karta is included, and CRNs for business accounts can be grouped if at least one partner, proprietor, or director is shared. Membership status is reviewed every six months. If the Relationship Value falls below the required threshold, Solitaire benefits may be withdrawn after prior notice. The Solitaire credit card's annual fee is waived as long as eligibility is maintained. If the member is downgraded and no longer qualifies, an annual fee of Rs 25,000 applies unless separate card eligibility criteria are met. The default threshold for ActivMoney is Rs 3 lakh, with sweep-ins directed to 180-day term deposits (or one-year deposits for NRE accounts). If an upgrade occurs, members must reset these thresholds manually. Insurance policies offered under the program are underwritten by Zurich Kotak Life Insurance and are not bank-guaranteed. The purchase of insurance products is entirely voluntary. All services, including credit facilities and investment referrals, are subject to the bank's discretion and governed by internal policies and applicable RBI regulations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
17-07-2025
- Business
- News18
Alternative investments to gain more traction in India: Experts
Kolkata, Jul 17 (PTI) India's alternative investment market is poised for rapid growth as family offices, corporates and institutional investors increasingly turn to these instruments in search of higher returns with relatively lower risk and volatility compared to equities, according to industry experts. An alternative investment is an asset that does not fit into the categories of conventional equity, income or cash. Venture capital, hedge funds, real estate and commodities are examples of alternative investments. Speaking at an event organised by Venture Soul Partners and Spur Advisors, President (Finance and Strategy) at Atha Group, Vishal Vithlani, highlighted the sector's explosive global growth, with the private debt market estimated at USD 2.5 trillion, half of India's current GDP. Highlighting the broader growth in this segment, SEBI Whole-Time Member Ananth Narayan said, 'Perhaps something that is less noticed is the growth in the Alternate Investment Funds (AIFs), much of which is invested in the unlisted space." As of March 2025, commitments into AIFs stood at Rs 13.5 lakh crore, a growth of over Rs 1.7 lakh crore over the previous year, he said.. 'Over the past five years, AIF commitments and investments have seen a 30 per cent Compounded Annual Growth Rate, heartening signs for capital formation," Narayan said. In India, the segment is still nascent but is projected to grow nearly tenfold from Rs 25,000-40,000 crore in FY23 to Rs 2 lakh crore by 2027, Vithlani said. 'This is a market with significant headroom to expand further. Private debt funds globally have consistently outperformed, and we expect similar trends in India," Vithlani said. He noted that the increasing appetite for such funds to finance mergers and acquisitions and buyouts areas where traditional banks remain cautious. Industry leaders highlighted the growing appeal of alternative debt funds, which are currently offering yields in the range of 16-18 per cent, significantly higher than traditional fixed income avenues, Ashish Gala of Venture Soul Partners said. Lalit Khetan, Executive Director & CFO of Ramkrishna Forgings, said AIFs, particularly those focused on debt, are maturing in India and offer credible diversification opportunities for family offices and corporates seeking stable cash flows and enhanced portfolio returns. 'AIFs are not entirely risk-free, but prudent allocation can significantly enhance overall returns," Khetan said, stressing the need for alignment with the investor's philosophy and a thorough understanding of the fund manager's approach before committing capital. Mahendra Kumar Chajjer, CFO of Graphite India, cautioned that while alternative funds are witnessing strong traction amid rising demand from startups and the wider ecosystem, investors must remain mindful of risks, particularly around collateral quality and the fact that past performance is not necessarily indicative of future outcomes. 'Alternative funds will play a tremendous role, but due diligence remains key," Chajjer said. 'The era of 11-17 per cent returns from government securities and bonds is behind us. But the alternative debt space offers superior returns while being less exposed to market volatility," said one of the panellists. Drawing comparisons with global benchmarks, speakers noted that the S&P 500 delivered 8.4 per cent returns over the past two decades, while US private debt funds returned between 8-13 per cent in USD terms over the same period, roughly 1.6 times the index. With India's macroeconomic environment marked by robust liquidity and a softening interest rate outlook, experts believe the momentum in private debt markets will only strengthen. Large institutional investors, including insurance companies, have already begun increasing allocations in this space, they said. India's inclusion in global debt indices is also expected to further boost the growth and maturity of this investment class. PTI BSM NN view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
17-07-2025
- Business
- Economic Times
Alternative investments to gain more traction in India: Experts
India's alternative investment market is poised for rapid growth as family offices, corporates and institutional investors increasingly turn to these instruments in search of higher returns with relatively lower risk and volatility compared to equities, according to industry experts. ADVERTISEMENT An alternative investment is an asset that does not fit into the categories of conventional equity, income or cash. Venture capital, hedge funds, real estate and commodities are examples of alternative investments. Speaking at an event organised by Venture Soul Partners and Spur Advisors, President (Finance and Strategy) at Atha Group, Vishal Vithlani, highlighted the sector's explosive global growth, with the private debt market estimated at USD 2.5 trillion, half of India's current GDP. Highlighting the broader growth in this segment, SEBI Whole-Time Member Ananth Narayan said, "Perhaps something that is less noticed is the growth in the Alternate Investment Funds (AIFs), much of which is invested in the unlisted space." As of March 2025, commitments into AIFs stood at Rs 13.5 lakh crore, a growth of over Rs 1.7 lakh crore over the previous year, he said.."Over the past five years, AIF commitments and investments have seen a 30 per cent Compounded Annual Growth Rate, heartening signs for capital formation," Narayan said. ADVERTISEMENT In India, the segment is still nascent but is projected to grow nearly tenfold from Rs 25,000-40,000 crore in FY23 to Rs 2 lakh crore by 2027, Vithlani said. "This is a market with significant headroom to expand further. Private debt funds globally have consistently outperformed, and we expect similar trends in India," Vithlani said. ADVERTISEMENT He noted that the increasing appetite for such funds to finance mergers and acquisitions and buyouts areas where traditional banks remain leaders highlighted the growing appeal of alternative debt funds, which are currently offering yields in the range of 16-18 per cent, significantly higher than traditional fixed income avenues, Ashish Gala of Venture Soul Partners said. ADVERTISEMENT Lalit Khetan, Executive Director & CFO of Ramkrishna Forgings, said AIFs, particularly those focused on debt, are maturing in India and offer credible diversification opportunities for family offices and corporates seeking stable cash flows and enhanced portfolio returns."AIFs are not entirely risk-free, but prudent allocation can significantly enhance overall returns," Khetan said, stressing the need for alignment with the investor's philosophy and a thorough understanding of the fund manager's approach before committing capital. ADVERTISEMENT Mahendra Kumar Chajjer, CFO of Graphite India, cautioned that while alternative funds are witnessing strong traction amid rising demand from startups and the wider ecosystem, investors must remain mindful of risks, particularly around collateral quality and the fact that past performance is not necessarily indicative of future outcomes."Alternative funds will play a tremendous role, but due diligence remains key," Chajjer said."The era of 11-17 per cent returns from government securities and bonds is behind us. But the alternative debt space offers superior returns while being less exposed to market volatility," said one of the comparisons with global benchmarks, speakers noted that the S&P 500 delivered 8.4 per cent returns over the past two decades, while US private debt funds returned between 8-13 per cent in USD terms over the same period, roughly 1.6 times the index. With India's macroeconomic environment marked by robust liquidity and a softening interest rate outlook, experts believe the momentum in private debt markets will only strengthen. Large institutional investors, including insurance companies, have already begun increasing allocations in this space, they said. India's inclusion in global debt indices is also expected to further boost the growth and maturity of this investment class.
Time of India
17-07-2025
- Business
- Time of India
Alternative investments to gain more traction in India: Experts
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel India's alternative investment market is poised for rapid growth as family offices, corporates and institutional investors increasingly turn to these instruments in search of higher returns with relatively lower risk and volatility compared to equities, according to industry alternative investment is an asset that does not fit into the categories of conventional equity, income or cash. Venture capital , hedge funds, real estate and commodities are examples of alternative investments Speaking at an event organised by Venture Soul Partners and Spur Advisors, President (Finance and Strategy) at Atha Group, Vishal Vithlani, highlighted the sector's explosive global growth, with the private debt market estimated at USD 2.5 trillion, half of India's current the broader growth in this segment, SEBI Whole-Time Member Ananth Narayan said, "Perhaps something that is less noticed is the growth in the Alternate Investment Funds (AIFs), much of which is invested in the unlisted space."As of March 2025, commitments into AIFs stood at Rs 13.5 lakh crore, a growth of over Rs 1.7 lakh crore over the previous year, he said.."Over the past five years, AIF commitments and investments have seen a 30 per cent Compounded Annual Growth Rate, heartening signs for capital formation," Narayan India, the segment is still nascent but is projected to grow nearly tenfold from Rs 25,000-40,000 crore in FY23 to Rs 2 lakh crore by 2027, Vithlani said."This is a market with significant headroom to expand further. Private debt funds globally have consistently outperformed, and we expect similar trends in India," Vithlani noted that the increasing appetite for such funds to finance mergers and acquisitions and buyouts areas where traditional banks remain leaders highlighted the growing appeal of alternative debt funds, which are currently offering yields in the range of 16-18 per cent, significantly higher than traditional fixed income avenues, Ashish Gala of Venture Soul Partners Khetan, Executive Director & CFO of Ramkrishna Forgings , said AIFs, particularly those focused on debt, are maturing in India and offer credible diversification opportunities for family offices and corporates seeking stable cash flows and enhanced portfolio returns."AIFs are not entirely risk-free, but prudent allocation can significantly enhance overall returns," Khetan said, stressing the need for alignment with the investor's philosophy and a thorough understanding of the fund manager's approach before committing Kumar Chajjer, CFO of Graphite India , cautioned that while alternative funds are witnessing strong traction amid rising demand from startups and the wider ecosystem, investors must remain mindful of risks, particularly around collateral quality and the fact that past performance is not necessarily indicative of future outcomes."Alternative funds will play a tremendous role, but due diligence remains key," Chajjer said."The era of 11-17 per cent returns from government securities and bonds is behind us. But the alternative debt space offers superior returns while being less exposed to market volatility," said one of the comparisons with global benchmarks, speakers noted that the S&P 500 delivered 8.4 per cent returns over the past two decades, while US private debt funds returned between 8-13 per cent in USD terms over the same period, roughly 1.6 times the India's macroeconomic environment marked by robust liquidity and a softening interest rate outlook, experts believe the momentum in private debt markets will only institutional investors, including insurance companies, have already begun increasing allocations in this space, they inclusion in global debt indices is also expected to further boost the growth and maturity of this investment class.
