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Indian family offices now go beyond investing for HNIs and are involved in legacy planning, capital preservation for the future: Umang Papneja, CEO, Julius Baer India
Indian family offices now go beyond investing for HNIs and are involved in legacy planning, capital preservation for the future: Umang Papneja, CEO, Julius Baer India

Time of India

time3 days ago

  • Business
  • Time of India

Indian family offices now go beyond investing for HNIs and are involved in legacy planning, capital preservation for the future: Umang Papneja, CEO, Julius Baer India

RAPID FIRE the one financial habit every young investor should adopt early?The art and science of saving! your biggest investing superstition that you know is totally irrational?That the markets generally fall in do you unwind after a volatile market day?Markets don't move in a straight line, they are inherently volatile. It really doesn't bother one investing myth you wish more people would stop believing? Real estate investment in India is better than stranded with only three stocks for 10 years, which ones you'll choose?I am bullish on the BFSI sector in India as I understand that better than other businesses so all my stock picks will be from this global market or economy fascinates you the most right now, and why?I believe in the India growth more dangerous to your returns – a business TV news channel or Twitter?WhatsApp University is the most dangerous!Wealth creation and preservation is not just an aspiration for the common man and woman. The rich and the famous also want to see their money grow. But more importantly, they'd like their wealth and legacy being passed on to future generations. A report by wealth management firm Julius Baer, in association with EY, estimates that US$ 1.5 trillion is expected to change hands in India over the next decade. A large chunk of this wealth sits in family offices —the 'money box' of affluent families—run with a strict constitution designed to grow the capital and pass it to future generations, alongside any mandates for charity or other causes. The Julius Baer-EY report titled 'The Indian family office playbook–June 2025' gives us an insight into the world of family offices, trends in their investment preferences, their risktaking abilities, succession planning and so on. Excerpts from the conversation with Umang Papneja, CEO, Julius Baer India:The amount of wealth creation in India is unparalleled. India is at number three, just behind US and China in terms of new people being added to the ultra high-networth individual (UHNI) list. A report says that around three individuals get added in the $30 million plus bracket every day in are the kinds of additions we're seeing to the elite club. Wealth managers and multi-family offices are targeting 1,000 new clients annually, and over the next five years, another 5,000 individuals are expected to join—each with an investable surplus of $30 million (Rs.250 crore). No wonder we have seen the number of family offices swell from 45 to people don't only want to manage and grow the money in terms of asset allocation and product selection. International investing and philanthropy too are on their aspiration list. The focus is also on how to preserve and sustain this level of wealth for future generations—two or even three down the line. That's the mindset change. I won't be surprised if there's an exponential increase in the number of family offices over the next four- five a new-generation entrepreneur has launched an IPO and sold part of their stake through an offer for sale, or brought in a private equity investor. With this liquidity, the entrepreneur can now consider setting up a family age has got nothing to do with this. The perception that senior people do not like risk and only youngsters do, is a misconception. That's because the patriarch, even if he is 75 years old, knows that he is not just saving the money for himself. The wealth is for the next generations as well. Why should he be conservative in his choice of investments and wealth creation? He obviously thinks about growing and compounding as well, so that his future generations are taken care of. Family offices work way beyond goals like retirement planning. They think about preserving and compounding wealth for future generations; it's a growth mindset at play offices invest in traditional products like listed equities, fixed income products, and so on. But new generation entrepreneurs also want to give back to the community where they come instance, if a startup founder had a successful exit and there was an ecosystem which supported him, he would want to give something back to the system. For instance, say 4-5% of his wealth may go towards a startup founded by peers in his cohort. We see a lot of that in the technology sector landscape. The new age family offices might give something away to startups, but that's not the case always, with legacy depends from family to family. Typically, and irrespective of how many goals a family office would have, its investment agenda has three sides to it. First is safety. Second, growth investments. And, third, aspiration or the risk-taking each family might allocate different proportions to this. Some might not want any safety element in the way they manage their money. A family office might say it needs to earmark a certain amount or a certain percentage of the overall corpus, in the safety basket, which will only invest in risk-free or least risky instruments, and so on. But all of this is laid out in the family office's constitution at a broader level and more specifically, in their investment policy course, they still invest in mutual funds. That's the bread and butter. But they also aspire to grow their wealth. And the buckets that I just explained, also has a risk bucket in the midst. Most family offices restrict investments in alternate assets to around 10% of their overall corpus. There are growing opportunities in the private equity space—especially as government spending rises in sectors like manufacturing and defence. Many new companies are emerging in these areas, but they are still in the early growth stages and not yet listed. Savvy and smart investors like family offices might not want to wait till they get listed to make money out of them. For example, as iPhones get locally-made, they might turn to small local companies to supply parts. Some of these companies can provide tremendous growth opportunities, especially since they get access to them at early only thing to remember here is that liquidity in unlisted companies and private equity is very low. Hence, most family offices prefer to restrict their investments in alternate assets to under 10%.Patriarchs and matriarchs would certainly like to decide how the next generation takes over. Without a plan, it can become emotional or even create friction. It gets even more complex in larger families. Nearly 60% of family offices take succession planning head on. It's important. In our experience, families that plan early, tend to transition more smoothly.A trust is perpetual. If assets are transferred to a trust, the trustees will transfer assets to the next generation exactly as per the wishes of the person who has made the trust. It becomes automatic and more longterm. A trust deed ensures that assets can be distributed for long enough, to as many beneficiaries as the trust deed mentions and over a long time. It gives you enough number of permutation and combinations and works well for families with complex assets or if the members are spread across geographies. A will, on the other hand, needs to be executed immediately upon the person's this is something we are seeing more often. Younger family members may want to follow different careers or investment paths. In such cases, having a family office structure helps, because it gives them a way to manage their share of wealth and income separately, but still with some family oversight. It also allows families to stay connected through shared values, while giving freedom for individual choices. It's not always easy, but the right governance structure and family oversight offices are increasingly investing in real assets because they offer stable, long-term income. These are not linked to market ups and downs in the same way as equities. REITs and InvITs, for example, give them exposure to assets like commercial buildings, roads, warehousing or data centres, these spaces are leased under long-term contracts, creating stable monthly income for investors. This investment class brings in regular cash flows, which suits families looking for steady returns without taking on too much remains a strong long-term story. Even with the current global tensions, we've seen that domestic liquidity is high, and that has helped markets stay steady. A few years ago, we may have seen sharper corrections, but that's not the case today. We continue to be positive on India's fundamentals. Sectors like banking, infrastructure, renewables and manufacturing are all seeing good momentum. So while it's important to stay balanced, this is also the time to look for the right opportunities with a long-term lens.

Yuzvendra Chahal's rumored girl friend RJ Mahvash wants to ask questions from Virat Kohli and Salman Khan about their......
Yuzvendra Chahal's rumored girl friend RJ Mahvash wants to ask questions from Virat Kohli and Salman Khan about their......

India.com

time23-06-2025

  • Entertainment
  • India.com

Yuzvendra Chahal's rumored girl friend RJ Mahvash wants to ask questions from Virat Kohli and Salman Khan about their......

Image credit: Source: Instagram RJ Mahvash and Mihir Ahuja's show 'Pyaar Paisa Profit' is being appreciated a lot on OTT. During the promotion, Mahvash told what she would ask Salman, Shahrukh, Virat Kohli and Diljit if she got a chance to ask questions. She also gave a funny reaction to her name being linked with Yuzvendra Chahal. RJ Mahvish told Galatta India that if she get a chance to ask Shah Rukh Khan a question, it would not actually be a question but an opinion - what advice he would give her as a newcomer actor. Talking about Salman Khan, she joked, "I would like to ask him how the breakup happened?" and then pretended to wipe tears while laughing. When she was asked a question about Virat Kohli, she said, 'How come you always look so cute with Anushka?' Image credit: Source: Instagram Mahvash said, 'More than a cricketer, you look very cute with Anushka Sharma. So how do you achieve these goals throughout the year. I find him very cute.' If she has to ask a question about Avneet Kaur, Mahvash said that she would ask her how she felt when Kohli liked it? And she laughed after saying that. When asked a question about Chahal, Mahvash paused for a moment and said- tell me more? What is going on? On being asked about Chahal, RJ Mahvash paused for a second and said, "Tell me more? What's going on?" This answer was given in a funny way but many fans also reacted to it on social media. RJ Mahvash's name was taken a lot with Yuzvendra Chahal in the past. Recently, when people trolled RJ Mahvash for being named with Yuzvendra, the actress replied to them and wrote on Insta - I have been in the industry since 2019. Mahvash showed a glimpse of her work and then wrote - I have been hosting cricket since the time you were not even born Chotu. I have been on the cricket pitch since 2019. Mahvash targeted the forwards of WhatsApp University and wrote - Don't read the forwards of WhatsApp University.

"Why are you wasting time on a quack?": Pawan Khera hits out at Nishikant Dubey for questioning Indira Gandhi over Shimla Agreement
"Why are you wasting time on a quack?": Pawan Khera hits out at Nishikant Dubey for questioning Indira Gandhi over Shimla Agreement

Time of India

time23-06-2025

  • Politics
  • Time of India

"Why are you wasting time on a quack?": Pawan Khera hits out at Nishikant Dubey for questioning Indira Gandhi over Shimla Agreement

Congress leader Pawan Khera on Monday slammed BJP MP Nishikant Dubey , who questioned former Indian Prime Minister Indira Gandhi over the Shimla agreement . Pawan Khera called Nishikant Dubey a "quack" and urged the media not to pay attention to him. Taking a dig at Nishikant Dubey, the Congress leader said that he is not even a student from " WhatsApp University " but of "WhatsApp Nursery". Khera further asked Dubey to go to the Prime Minister's Office (PMO) and discontinue the Shimla Agreement. "Why are you (the media) wasting time on a quack? These are not even students of WhatsApp University but of WhatsApp nursery. Ask him to go to the PMO and tell them to discontinue the Simla Agreement. Why is he wasting time?", Pawan Khera told ANI. Earlier, Bharatiya Janata Party (BJP) MP Nishikant Dubey targeted former Indian Prime Minister Indira Gandhi, alleging that she signed the Shimla Agreement between India and Pakistan under the pressure of the United States. Sharing a document of a Rajya Sabha debate on 'X', Nishikant Dubey questioned why Indian governed 5000 square mile territory was given to Pakistan by India's "iron lady".The BJP MP further queried why 57 Indian soldiers killed in Pakistan's jail dispute were returning the 93000 Pakistsoldiers, who had surrendered after the 1971 war. Live Events Nishikant Dubey mentioned that former Defence Minister Mahavir Tyagi had raised these questions, but former Indian PM Indira Gandhi left them unanswered. Earlier on Sunday, Nishikant Dubey slammed Rahul Gandhi , questioning the motives of the Congress leader to encourage learning English rather than local languages while also alluding to the "hypocrisy" of opposing the National Education Police (NEP) 2020 for language choice, stating that the 1986 NEP had similar goals. "Rahul Gandhi ji, your investigative advisor is hell bent on destroying you. This is the education policy of 1986 given by your father to the country. in this, your father is promising the country to promote Hindi, teach the Sanskrit language and translate English into regional languages. This same education policy is almost in place now. Students should also grow with regional languages, changes in this have been made by Prime Minister Modi ji in 2020," Dubey said in a post on X in Hindi.

RJ Mahvash hits back at trolls claiming Yuzvendra Chahal ‘made her career'; shares pictures with Salman Khan, Aamir Khan: ‘Awards ki line mehnat se lagti hai, gold-digging se nahi'
RJ Mahvash hits back at trolls claiming Yuzvendra Chahal ‘made her career'; shares pictures with Salman Khan, Aamir Khan: ‘Awards ki line mehnat se lagti hai, gold-digging se nahi'

Time of India

time20-06-2025

  • Entertainment
  • Time of India

RJ Mahvash hits back at trolls claiming Yuzvendra Chahal ‘made her career'; shares pictures with Salman Khan, Aamir Khan: ‘Awards ki line mehnat se lagti hai, gold-digging se nahi'

Radio jockey and digital creator RJ Mahvash has come out strongly against trolls alleging that cricketer Yuzvendra Chahal is responsible for her rise to fame. In a video shared on her Instagram on Friday, Mahvash debunked claims that her career only took off because of her association with Chahal. The post was captioned, 'Jab tak khud ke liye nahi bologe, koi tumhare liye nahi bolega' (If you don't speak for yourself, no one will). Responding to a comment that read, 'Yuzi bhai ne iska career bana diya' (Yuzi made her career), Mahvash said in the video, '2019 se industry mein hu, aao isse pehle ka apna career dikhati hu' (I've been in this industry since 2019, let me show you my career before this). She then showcased her journey, from working with a production house in 2023 to her film debut Section 108 opposite Nawazuddin Siddiqui. 'I was hosting cricket shows before you were born' Another recurring criticism she tackled was whether she knew anything about cricket. Highlighting a snide comment, 'Cricket pitch tak pohach gayi, cricket ke baare mein kuch janti bhi hai?' Mahvash retorted, 'Jab tu paida bhi nahi hua tha na chotu, tab se cricket shows host kar rahi hu.' (I've been hosting cricket shows since before you were born). She backed her statement with visuals of her interactions with cricket legends including MS Dhoni, Chris Gayle, Harbhajan Singh, Shane Watson, and Mohammad Kaif, while stating, 'WhatsApp University ke forwarded messages mat paadha karo.' Mahvash dismisses Chahal-centric narrative Refuting another accusation that she gained access to big celebrities due to Chahal, Mahvash shared throwback photos with stars like Salman Khan , Aamir Khan , Rashmika Mandanna, Vicky Kaushal, and Kartik Aaryan. 'This has been my life before,' the video's text read. She further detailed her achievements, including writing two books, starring as a lead in Amazon Prime's Pyaar Paisa Profit, and winning multiple awards. In a pointed statement, she said, 'Apne wardrobe me itne awards ki line mehnat se lagti hai bro, gold-digging se nahi.' (You win awards through hard work, not gold digging.) 'Yuzi is a friend and I'll proudly say he's talented' Mahvash also addressed her equation with Chahal, stressing that their friendship is genuine. 'As far as Yuzi is concerned, I am super-proud of him. Main poori duniya mein chilla chilla ke bolungi ki main jise janti hu vo super talented hai,' she said. Their association made headlines after they were spotted together post Chahal's split with wife Dhanashree Verma. Despite speculation about a romantic angle, fueled by their public appearances and social media banter, Mahvash has repeatedly clarified that they're just friends. 'I'm very much single' In a recent interview with Yuvaa, Mahvash once again put the rumours to rest. 'I'm very much single,' she said, adding that she doesn't believe in casual dating. 'I don't understand the concept of marriage in today's time,' she remarked, indicating that she would only date someone if she saw a future with them.

RJ Mahvash claps back at trolls claiming ‘Yuzi bhai ne iska career bana diya' in new video. Watch
RJ Mahvash claps back at trolls claiming ‘Yuzi bhai ne iska career bana diya' in new video. Watch

Hindustan Times

time20-06-2025

  • Entertainment
  • Hindustan Times

RJ Mahvash claps back at trolls claiming ‘Yuzi bhai ne iska career bana diya' in new video. Watch

RJ Mahvash has come out against trolls who have been targeting her with a recurring narrative that cricketer Yuzvendra Chahal "made her career" in a new video. Mahvash took to her social media and shared a detailed video describing her career milestones, much before her interactions with Chahal started getting attention. (Also read: Paparazzi tease RJ Mahvash about rumoured boyfriend Yuzvendra Chahal, actor left blushing. Watch) RJ Mahvash has spoken against trolls in a new video. Mahvash took to her Instagram on Friday and posted a video with the caption, "Jab tak khud ke liye nahi bologe, koi tumhare liye nahi bolega (If you would not speak for yourself, nobody will speak for you)". The video starts with Mahvash posting a screenshot of a comment, 'Yuzi bhai ne iska career bana diya (Yuzi made her career)' and her saying "2019 is industry me hu, aao isse pehle ka apna career dikhati hu (I have been here since 2019, let me show you my career)." The clip shows a montage about her debuting with a production house in 2023 and making the film, Section 108 with actor Nawazuddin Siddiqui. The video then shows Mahvash tackling another comment that reads, 'Cricket pitch tak pohach gayee abto to ye, cricket ke baare me kuch janti bhi hai ye (She has reached the cricket pitch, but does she know anything about the sport).' Mahvash then says, "Jab tu paida bhi nahi hua tha na chotu, tab se cricket shows host kar rahi hu (I have been hosting cricket shows, before you were born). 2019 se I have been on the pitch, WhatsApp university ke forwarded messages mat paadha karo (I have been on the pitch since 2019, so stop getting your information from WhatsApp University's forwarded messages)" The video then shows Mahvash with cricketers such as Mahendra Singh Dhoni, Chris Gayle, Mohammad Kaif, Shane Watson, and Harbhajan Singh. Mahvash shows her awards She then mocks another comment which read, 'bade bade logo ke sath milne lag gayi hai ye to Yuzi bhai ki wajah se (she has started to meet famous people because of Yuzi)'. The video then shows her pictures with superstars Salman Khan and Aamir Khan along with actors like Rashmika Mandanna, Kartik Aaryan, Vickey Kaushal and many more (with background narrative, 'This has been my life before'). Mahvash then talks about writing two books and also starring as a lead in the Amazon Prime series Pyaar Paisa Profit. Then comes a montage of Mahvash winning multiple awards, and in the background, she says, 'Apne wardrobe me itne awards ki line mehnat se lagti hai bro, gold-digging se nahi (All the awards in my wardrobe are because of my hard work and not gold digging)'. Mahvash talks about Chahal Mahvash also clarified her friendship with cricketer Chahal and said that she will never back down from supporting a friend. "As far as Yuzi is concerned, I am super-proud of him. Me poori duniya me chilla chilla ke bolungi ki main jise janti hu vo super talented hai. (I will shout off the rooftops that he is very talented). About Mahvash and Chahal dating rumours Speculation around a possible romance between RJ Mahvash and cricketer Yuzvendra Chahal first began when the two were spotted spending time together following Chahal's separation from his ex-wife, Dhanashree Verma. Mahvash promptly dismissed the rumours, clarifying they were just friends. However, their public appearances—including attending a Champions Trophy match together—intensified the buzz. Mahvash has occasionally shared posts praising Chahal's performances in the IPL, while Chahal, in one interaction, affectionately referred to her as his 'spine.' However, in a recent interview with Yuvaa, RJ Mahvash set the record straight. 'I'm very much single,' she said, emphasising that she doesn't believe in casual dating. 'I don't understand the concept of marriage in today's time,' she added, noting that she would only consider dating someone with whom she envisions a serious future.

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