Core Viewpoint - State Bank of India plans to sell a 6% stake in its subsidiary SBI Fund Management through an Initial Public Offering (IPO) [1] Group 1: Company Overview - SBI Mutual Fund, established in 1987, is the largest in the industry and was the first non-UTI mutual fund in India [2] - SBI Funds Management was incorporated in 1992 as a wholly owned subsidiary of SBI to manage investments for SBI Mutual Funds [2] - Currently, SBI and Amundi India Holding hold 62% and 36% stakes in SBI Fund Management, respectively [2] Group 2: Market Position - SBI Fund Management is the largest asset management company in India, with a market share of 15.55% [3] - As of September-end, it manages Quarterly Average Assets Under Management (AUM) of ₹11.99 trillion under various schemes and ₹16.32 trillion under Alternates [3] Group 3: IPO Implications - The IPO aims to maximize value realization for existing stakeholders and create opportunities for general shareholders [4] - It is expected to broaden market participation and increase awareness of products among a wider set of potential investors [4] - This will be the third subsidiary of SBI to be listed, following SBI Cards and SBI Life Insurance [3]

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Core Viewpoint - SBI and Amundi are jointly initiating an Initial Public Offering (IPO) for SBI Funds Management Limited (SBIFM), expected to list on Indian stock exchanges in 2026, pending regulatory approval and market conditions [2][3]. Company Overview - SBIFM, established in 1992, is primarily owned by SBI (61.9%) and Amundi (36.4%), with a market share exceeding 15.5% in the Indian mutual fund sector and total assets under management of INR 28.31 trillion (€269 billion) [3][19]. - The IPO will offer 10% of SBIFM's capital for sale, with 6.3% sold by SBI and 3.7% by Amundi [3]. Leadership Commentary - Valérie Baudson, CEO of Amundi, highlighted SBIFM's leadership in the Indian asset management industry, attributing its success to SBI's distribution network and Amundi's global expertise. The IPO aims to unlock value created by both companies and strengthen their partnership in a growing market [4]. - SBI Chairman, Shri Challa Sreenivasulu Setty, noted that this IPO marks the third subsidiary of SBI to be listed, following SBI Cards and SBI Life Insurance. He emphasized the timing as opportune due to SBIFM's strong performance and market leadership [4]. Industry Position - Amundi is recognized as a leading European asset manager, ranking among the top 10 global players, managing over €2.3 trillion in assets [5][19]. - SBIFM offers a wide range of investment solutions, including Mutual Funds, Specialized Investment Funds, Portfolio Management Services, Offshore Funds, and Alternative Investment Funds, catering to various investor segments [8][9]. Commitment to Standards - SBIFM was the first in India's mutual fund industry to adopt the CFA Institute Asset Manager Code of Conduct, reflecting its commitment to high ethical standards and professionalism. It is also a signatory to the UN Principles for Responsible Investment, showcasing its dedication to sustainable investing [10].

Core Viewpoint - SBI and Amundi have initiated an IPO for SBI Funds Management Limited, expected to list in 2026, pending regulatory approval and market conditions [2][3]. Company Overview - SBI Funds Management Limited (SBIFM) was incorporated in 1992 and is primarily owned by SBI (61.9%) and Amundi (36.4%), with a market share exceeding 15.5% in mutual funds and total assets under management of INR 28.31 trillion (€269 billion) [3][4]. - At the IPO, 10% of SBIFM's capital will be offered for sale, with 6.3% sold by SBI and 3.7% by Amundi [3]. Leadership and Strategic Comments - Valérie Baudson, CEO of Amundi, highlighted SBIFM's leadership in the Indian asset management industry and the successful growth leveraging SBI's distribution network and Amundi's expertise [4]. - SBI Chairman, Shri Challa Sreenivasulu Setty, noted that this IPO is timely due to SBIFM's strong performance and market leadership, aiming to maximize value for stakeholders and enhance public visibility [4]. Market Position and Offerings - SBIFM is recognized as a leader in the Indian asset management sector, offering a wide range of investment solutions including Mutual Funds, Specialized Investment Funds, Portfolio Management Services, and more [8][9]. - The company caters to a diverse investor base, including retail investors, high-net-worth individuals, non-resident Indians, corporates, and institutional clients [9]. Commitment to Standards - SBIFM was the first in India's mutual fund industry to adopt the CFA Institute Asset Manager Code of Conduct, demonstrating its commitment to high ethical standards [10]. - The company is also a signatory to the United Nations Principles for Responsible Investment, emphasizing its dedication to sustainable investing [10].

According to the exchange filing, the bank will divest 3,20,60,000 equity shares, representing 6.3007% of the total equity capital of SBIFML. The divestment will be carried out through the IPO route and is subject to the necessary regulatory approvals.“Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we advise that the Executive Committee of the Central Board (ECCB) of State Bank of India in the meeting held on 6 th Novemb ...

Core Viewpoint - Billionaire investor Ray Dalio warns that the Federal Reserve's shift in monetary policy could lead to a "1999-style 'melt-up'" in financial assets [1] Group 1: Federal Reserve's Policy Shift - Dalio argues that the Fed is "fueling a bubble, not fighting a bust," marking a significant change from its historical crisis response [2] - The Fed's recent decision to slow its balance sheet runoff, known as Quantitative Tightening (QT), is seen by Dalio as a dangerous easing move at an inappropriate time [3] Group 2: Economic Conditions and Comparisons - Dalio contrasts current economic conditions with past crises, stating that previous Quantitative Easing (QE) programs were "stimulus into a depression" during times of low asset valuations and high unemployment [3] - He highlights that current conditions feature high asset valuations, a strong economy, low unemployment, and inflation above the Fed's target, making today's QE a "stimulus into a bubble" [4] Group 3: Market Predictions - Dalio predicts that the liquidity injection will favor long-duration assets, particularly technology and AI stocks, as well as inflation hedges like gold [4] - He anticipates a market reaction similar to "late 1999 or 2010-2011," forecasting a "strong liquidity melt-up" that will eventually require restraint [5] Group 4: Fiscal and Monetary Policy Dynamics - The current fiscal and monetary looseness is characterized by Dalio as a "bold and dangerous big bet on growth, especially AI growth," which he believes is more inflationary than past stimulus efforts [6] Group 5: Market Performance Indicators - The S&P 500 is nearing the 7,000 mark, with its last 52-week high at 6,920.34 points, closing at 6,796.29, just 200 points away from the milestone [7] - The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ) have shown positive movements, with SPY up 0.35% and QQQ up 0.65% [8]

INVL Asset Management, a subsidiary of the leading asset management group in the Baltics, Invalda INVL, has launched a new investment fund, INVL Defence Infrastructure Fund I, which will participate in the tender for the construction of the Rūdninkai military town. The fund will act as a financial partner in the project. The Bank of Lithuania has approved the fund’s rules. “Taking into account the geopolitical situation in the region, we see that the defence sector is one of the most relevant areas where we ...

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Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The government shutdown couldn’t keep crypto’s newest milestone at bay. As federal agencies sat idle, the first U.S. exchange-traded products tied to altcooin cryptocurrencies launched anyway on Oct. 27—marking a watershed moment that could unleash dozens more digital asset funds without the regulatory red tape that once slowed the industry to a crawl. Canary Capital and Bitwise Asset Management are the tra ...