Edelweiss Asset Management

Capital markets regulator Sebi on Friday imposed penalties totalling Rs 16 lakh on Edelweiss Asset Management Ltd, its CEO Radhika Gupta and fund manager Trideep Bhattacharya for violating mutual fund rules. Individually, penalty of Rs 8 lakh was levied on Edelweiss Asset Management and Rs 4 lakh each on Gupta and Bhattacharya, according to an order passed by Sebi. Also, they have been directed to pay the amount within 45 days. While undertaking an industry wide analysis of whether focused funds are true-to-label or not, Sebi noted that Edelweiss Focused Equity Fund (EFEF) had violated the provision 'an open ended equity scheme investing in maximum30 stocks' on 88 days. The deviations from mandatory asset allocation were observed for the months of November 2022, December 2022, January 2023 and February 2023. In its order, Sebi said, "noticee No. 1 (Edelweiss Asset Management) had failed to ensure that the asset management company took all reasonable steps and exercised due dilig

A former fund manager of Edelweiss Asset Management has settled a case pertaining to alleged violations of mutual fund rules with markets regulator Sebi following a payment of Rs 19.5 lakh towards settlement charges. Abhishek Gupta allegedly failed to ensure that the funds of the schemes were invested to achieve the objectives of the scheme and by doing so he allegedly violated mutual fund rules. The order came after Gupta filed an application with Sebi proposing to settle the alleged violations "without admitting or denying of the findings of fact and conclusions of law" through a settlement order. "In view of the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against the noticee viz, Abhishek Gupta vide ShowCause Notice... dated January 4, 2024, are hereby disposed of," the regulator said in its settlement order. The Securities and Exchange Board of India (Sebi) received Rs 19.5 lakh from Gupta on October 17, towards the settlement amount.

Edelweiss Group crisis: The development followed days after the RBI cracked down on the Edelweiss group in May, imposing major business restrictions on two of its subsidiary companies

This multi-factor index fund comprises 30 stocks chosen from the top 150 listed stocks

Edelweiss Mutual Fund on Thursday disclosed its first stress test result in order to comply with recent Sebi directive.

The move to sell the stake will reduce the company's debt and improve its market value, it said

SAT has upheld the order by the committee

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

RBI may have to hike the repo rate to 6.75% as inflation remains a threat, lingering above the central bank's target range for the remainder of the year, the head of fixed income at Edelweiss AM said

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

The first six to nine months of this year (till July or August) will see more volatility, and money making would be difficult, says the CIO-Equities of Edewleiss AMC

We remain excited about the prospects of this business and remain committed to investing in its growth, said Edelweiss MF CEO

The short-duration credit fund, which will be an alternative investment fund, targets to raise Rs 2,000 crore

The CEO of Edelweiss Asset Management dwells on the Budget proposals and how they will impact various sectors

Gupta, the only female chief executive officer of a major asset manager in India, says it's "risky to be underweight equities" at a time when local stocks remain "heavily" driven by liquidity

Investors include Ontario Teachers' Pension Plan Board, Florida's State Board of Administration, Swedish Pension Fund - AP4 and a European insurance investor

The investment will be deployed in Edelweiss Alternate Asset Advisors' (EAAA), a platform that manages AUM of $3 billion

Long-short funds try to profit from both rise and fall in asset prices, whereas long-only funds try to buy undervalued assets and gain if the asset price appreciates

The regulatory changes are not as disruptive as how people are making them to be, Gupta said