June 24, 2024

Weekly Wealth Report 24th June 2024 (Weekly Wealth Newsletter and a Private Circulation from Creating Wealth Company)                                                                                Curated by Mr. Sathish Kumar Founder – Creating Wealth Company Crorepathi Creator | Financial Consultant | Author | Speaker | Columnist | Youtuber Phone – 9841058689    Mail – creatingwealthadvisory@gmail.com      Web – www.sathishspeaks.com Issue 148, Weekly Wealth Newsletter: 24th June 2024 – 1st July 2024 Fastest Growing AMC “Quant” is facing SEBI Inquiry, What an investor should do now? Another Front Running inquiry from SEBI, this time it is from Quant Mutual Fund. Quant is one of the fastest growing Asset Management Company with 90,000 Crore of AUM. SEBI has conducted raids at Mumbai Head Quarters and suspected beneficial ownership in Hyderabad on the grounds of Front Running activity. Front running (in the current context) is when a fund manager and their associates buy shares in their personal account(s) before a fund purchases the shares. Since the fund would place a large order, the price will move up. So, the employees would get an immediate gain that can be sold off. Naturally, this is illegal and unethical and is banned by SEBI. We advise against any knee-jerk reactions, such as redemptions, until there is more clarity from the regulator or the mutual fund company. It’s important to note that, unlike individual stocks that may experience significant drops in response to such news, mutual fund investors are generally not impacted in the same way since mutual funds are essentially pass-through vehicles. The current investigation appears to pertain to the fund management process, not the stock portfolio of the funds being managed by the Asset Management Company (AMC). Call us @ 63795 18807 to Handpick High Performing Funds and Stocks for your Portfolio Weekly Market Update Domestic equity markets rose for the third consecutive week as key benchmark indices BSE Sensex and Nifty 50 rose 0.28% and 0.15%, respectively. The rally was broad-based, as the mid-cap segment and the small-cap segment also closed the week in green. Domestic equity markets reached a fresh high supported by a favourable view of the overall domestic economy, along with the hope for a prosperous rainy season. Gains were extended after the Swiss National Bank delivered another interest rate cut, reducing its policy rate by 25 bps to 1.25%. Investors’ focus remained on the upcoming Union budget along with progress of the monsoon for further cues. On the BSE sectoral front, BSE Bankex rose 3.22% led by private sector banks due to ‘valuation comfort’ over public sector banks and the return of foreign money. BSE IT increased 1.88% after a major U.S. based information technology firm provided a positive annual revenue growth forecast, indicating demand in the crucial U.S. marketplace Mutual Fund Corner ICICI Value Discovery Fund This fund follows a value/contrarian style of investing, which endeavours to find stocks that are priced significantly lower than market. This is managed directly by Mr Shankar Naren, CIO of ICICI Prudential AMC. This fund needs 5 – 7 years of Horizon as the value fund needs higher duration than normal equity funds To invest in SIP & in Mutual Funds Click the link and start your investments instantly ( You can also call us @ 7810079946 ) http://www.assetplus.in/partner/sathishkumar Stock of the Week HDFC Bank CMP – 1662 Target – 1999 ( In 12 – 18 Month’s Time Frame) HDFC Bank is a publicly held banking company, the bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. It is engaged in providing a range of banking and financial services including retail banking, wholesale banking and treasury operations. Strong Long Term Fundamental Strength with an average Return on Assets (ROA) of 1.75% With a growth in Interest of 58.41%, the company declared Very Positive results in Mar 24 HDFC Bank has delivered positive results for last 11 Quarters With ROA of 1.7, it has a Fair valuation with a 2.9 Price to Book Value HDFC Bank has High Institutional Holdings at 72% The Bank has a high Capital Adequacy Ratio of 17.12% signifying high buffers against its risk-based assets The stock is trading at a discount compared to its average historical valuations For your Equity recommendation – open a De Mat account with Angel Broking with this link https://app.aliceblueonline.com/openAccount.aspx?C=SSP03 This week Media Publications This week at Nanayam Vikatan – Should you switch your Mutual Fund Schemes frequently for High Returns? https://www.youtube.com/watch?v=rAFwSjXcKUkhttps://www.youtube.com/watch?v=Q8Ss6Mv9RTMhttps://www.youtube.com/watch?v=Pjc-Byv38kchttps://www.youtube.com/watch?v=Uj7TCfGWGqchttps://www.youtube.com/watch?v=Ra7fXuKcwqI Middle Class to Million Dollar Book Man and his struggle to generate and preserve wealth is eternal. One thing which is common among everyone in this society, that everyone has financial dream and aspiration to become Crorepati. Middle Class to Million Dollar is a guide to understand how simple and common sense in Personal Finance can help you to get wealthy Corpus.  Click here to purchase the book from Amazon Buy Middle Class to Million Dollar / மிடில் கிளாஸ் முதல் மில்லியன் டாலர் வரை Book Online at Low Prices in India | Middle Class to Million Dollar / மிடில் கிளாஸ் முதல் மில்லியன் டாலர் வரை Reviews & Ratings – Amazon.in To Buy my Untold Wealth Secret Book from Flipkart Untold Wealth Secrets: Buy Untold Wealth Secrets by Sathish Kumar at Low Price in India | Flipkart.com Facebook Youtube Whatsapp Instagram Linkedin This Newsletter is from Creating Wealth Company – For Private Circulation only. For more information connect with Sathish Kumar @ 9841058689 You can also connect with us investments@sathishspeaks.com Visit – www.sathishspeaks.com for More Details. Disclaimer Mutual Funds and Stock Market Investments are subject to market risks, pls read all scheme-related documents carefully. The past performance of the mutual fund is not necessarily indicative of future performances. Mutual fund does not guarantee any returns or dividends. This report is for informational purposes only and contains