Mutual Funds pump in Rs 7,200-crore in stock markets in April-June

June 27, 2016

Mutual fund managers have pumped in over Rs 600 crore into equities since the beginning of this month, taking the total to more than Rs 7,200 crore in the current fiscal so far.

Spotlight

Banks are exposed to climate-related risks through their lending and financial service activities, including project finance, equity, and debt underwriting. These risks are real and wide-ranging. A recent study estimates that the value at risk for investors from climate change, under a business-as-usual scenario, may be equivalent to a permanent reduction of up to 20% in portfolio value in just over a decade.


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FINANCIAL MANAGEMENT,FINTECH

Broadridge Ranked #10 on the 2022 IDC FinTech Rankings

Broadridge | September 13, 2022

As part of its eighth consecutive year being recognized, Broadridge Financial Solutions, Inc., a global Fintech leader, is pleased to announce it ranks #10 on the 2022 IDC FinTech Rankings, rising four places from its 2021 ranking. Broadridge was also named among a select group of companies as a 'Fast Track FinTech,' an accolade given only to those firms that continue to demonstrate consistent year-over-year financial growth. The 19th annual vendor ranking represents leading hardware, software, and service providers to the financial services industry from around the world. Companies are ranked based on 2021 calendar year revenues attributed to the financial services and FinTech industries. "Being recognized as a 'Fast Track FinTech' by IDC and making this distinguished list eight years in a row is a true testament to Broadridge's thriving culture of innovation and the belief in the power of transformative, next-generation technology, We remain steadfast in our commitment to helping financial institutions across the globe embrace innovation and implement cutting-edge technologies that drive growth, enhance customer experience and realize exceptional operational performance." -Tim Gokey, CEO of Broadridge The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC forecasts worldwide spending on IT across the globe to reach $590 billion (USD) by 2025. Being named in the IDC FinTech Rankings is a significant accomplishment, demonstrating a provider's commitment to the success of its financial institution clients, The IDC Fintech Rankings, now in its 19th year, is the global standard list of fintech providers to the industry, and we congratulate the 2022 winners,states Marc DeCastro, Research Director at IDC Financial Insights. To thrive in a digital economy, the financial services organizations must embrace and integrate innovative technology effectively to enhance the customer experience and achieve operational excellence. Broadridge and the companies featured on the IDC FinTech Rankings represent those providers committed to helping financial institutions successfully execute their digital transformation initiatives for the betterment of their customers around the world. Broadridge provides technology-driven solutions to banks, broker-dealers, portfolio managers, and public companies. The company's infrastructure serves as a global communications hub for thousands of mutual funds and millions of institutional investors. About Broadridge Broadridge Financial Solutions, a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

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FINANCIAL MANAGEMENT,INVESTMENT MANAGEMENT

Miracle Mile Advisors Announces Combination with Karp Capital Management and Simultaneous Investment by Corsair Capital

Miracle Mile Advisors, Karp Capital Management and Corsair | September 17, 2022

Miracle Mile Advisors and Karp Capital Management announced today that they intend to combine, creating an award-winning, national wealth advisory firm with over $4 billion in assets under management serving clients from five main offices. In conjunction with the transaction, the combined company will receive a significant investment from Corsair Capital, a leading private equity firm in the financial and business services industries. The combination and subsequent Corsair investment is expected to be completed in November 2022, subject to customary closing conditions. Karp Capital is a wealth management firm based in the San Francisco Bay area, with over $1.2 billion in client assets. Peter Karp founded Karp Capital in 2004 as an independent alternative to larger brokerage firms, providing sophisticated financial planning, investment advice, and retirement services to high-net-worth individuals and business owners with a specific expertise in the automotive sector. “Miracle Mile and Karp Capital coming together is a unique partnership. We share a strong cultural alignment and dedication to providing clients with highly customized, fiduciary advice. Our focus on providing wealth management services to the automotive, RV, and powersports spaces complement Miracle Mile’s broad foundation in advanced financial planning and wealth advisory services,” - Peter Karp Miracle Mile is a national, award-winning wealth advisor headquartered in Los Angeles, with offices in New York, Chicago and Portland. Founded in 2007, Miracle Mile provides clients with highly-customized financial advice across all aspects of their balance sheet. Miracle Mile is consistently ranked as one of the Top 50 Fastest Growing RIAs nationally, one of the Best Places to Work for financial advisors, and has multiple Forbes and Barron’s top-ranked advisors. We are fortunate to have developed an amazing culture and growth track record that has attracted some of the best and brightest advisory teams in the industry, and the addition of Karp Capital is a perfect example. As we scale the combined firm and enhance the service offering to our clients, we have found an incredible partner in Corsair. Their deep industry expertise and network will be instrumental in our future success, With our combined capabilities, we believe we can offer a differentiated partnership, culture, and set of resources to other wealth management firms looking to grow and thrive,said Duncan Rolph, Managing Partner. Corsair expects to leverage its deep fintech and wealth management expertise to support Miracle Mile, as it accelerates the growth trajectory, enhances the client experience, and builds on its history of successful acquisitions and partnerships. Corsair’s investment in Miracle Mile expands on its successful track record of investing in the asset and wealth management sector. We have been looking at the wealth advisory space for several years, trying to find the right platform company we found it in Miracle Mile. Their unwavering commitment to clients, incredible management team, market-leading growth, and award-winning culture makes the newly combined firm a perfect fit, said Gunnar Overstrom, a partner at Corsair. Tony Ling, a managing director at Corsair, added Miracle Mile is uniquely positioned as an ideal partner for high-growth advisors and their clientele. The Asset & Wealth Management Investment Banking team of Raymond James served as financial advisor to Miracle Mile and Karp Capital on the combination and recapitalization, Wilmer Cutler Pickering Hale and Dorr LLP served as legal counsel to Miracle Mile and Venable LLP served as legal counsel to Karp Capital. Simpson Thacher & Bartlett LLP served as legal counsel and Ardea Partners LP and Waller Helms Advisors served as financial advisor to Corsair Capital. About Miracle Mile Advisors Miracle Mile Advisors is a registered investment advisor committed to providing dynamic financial planning and custom investment management to high-net-worth individuals, families, business owners and institutions. Miracle Mile’s advisors integrate clients’ ambitions with best-in-class guidance, advice, and technology, and have been recognized across leading industry awards such as Barron’s, Financial Times, Forbes, Inc., and InvestmentNews. About Karp Capital Management Karp Capital Management is a registered investment advisor serving as a trusted partner for highly successful individuals, businesses, and families. Karp Capital simplifies the complexity in the financial lives of their clients and integrates clients’ entire wealth picture with their long-term aspirations so that they are confident about achieving what is important to them. About Corsair Corsair is a global specialist investment firm offering opportunities for investors and solutions for companies across financial & business services and infrastructure. The firm has almost three decades of experience partnering with businesses at the crossroads of technology transformation and financial services complexity and established its complementary infrastructure investment practice in 2015. Corsair has invested $12 billion in capital across its global buyouts and infrastructure platforms since inception.

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FINANCIAL MANAGEMENT,FINTECH

Cleareye.ai Announces Strategic Alliance with J.P. Morgan

Cleareye.ai | September 22, 2022

Cleareye.ai announces a new global strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital solution, ClearTrade, to solve both the challenges Trade Finance operations face today and tomorrow. Through significant advances in technology, the ClearTrade platform streamlines the onerous due diligence processing associated with Trade Finance transactions and the multitude of physical documents that are still prevalent in the industry today. Trade Finance is an industry going through a digital transformation. The ClearTrade solution offers a revolutionary change for banks to ensure they can continue to operate in this evolving landscape plagued with a significantly increasing cost base. Over the past year, ClearTrade has been integrated into J.P. Morgan’s Trade Processing System and is now live supporting transactions in the APAC region, with a global rollout planned over the coming quarters. Through this initiative, J.P. Morgan will be able to further leverage the digitizing of documents using powerful image processing solutions with the ability to extract, validate and accurately classify unstructured data. This level of digitization allows for: Smart interpretation of data and documents to automate letter of credit document examination Contextual and configurable rules engine to supplement existing Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice rules Identification of trade-based money laundering and sanctions red flags Seamless integration into any existing Trade Finance back-office platforms Cleareye firmly believes that the ClearTrade solution has the capability to increase Trade Finance operations productivity by up to 70%. Through the automated examination of thousands of trade presentations, including both industry common and non-standard document types, the solution has demonstrated up to 9x increase in trade velocity, significant reduction in document checking errors, greater than 85% accuracy standards and up to 80% reduction in E2E processing time. “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.” -Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan Mariya George, CEO and Co-founder for Cleareye, states: J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe. About Cleareye.ai Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and delivers exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking.

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FUNDING

USQ Expands Investment Platform with PREDEX Acquisition

USQ, Chatham Financial | August 02, 2022

Union Square Capital Partners, LLC, announced today it acquired the management of PREDEX, a real estate-focused interval fund. PREDEX (Ticker: PRDEX) has $163 million in AUM as of July 27, 2022, bringing total assets of USQ interval funds to approximately $400 million. “True diversification matters, and most investors have been reminded of that over the first half of this year,” said Thomas Miller, Chief Executive Officer of Union Square Capital Partners. Since both funds were launched, they have consistently demonstrated that non-correlation to the broader markets while still delivering strong risk-adjusted returns is possible, both having a three-year correlation of just -0.02 to the S&P 500 Index as of June 30, 2022. During the same period, the USQ Core Real Estate Fund (Ticker: USQIX) delivered an annualized return of 10.46%, while PRDEX delivered an annualized return of 12.09%. USQ’s first fund, USQIX, has a primary investment objective to generate a return comprised of both current income and long-term capital appreciation with moderate volatility and low correlation to the broader markets. USQ implements this strategy by investing in the core private equity real estate funds that comprise the NCREIF Fund Index — Open-end Diversified Core Equity (“NFI-ODCE”). PREDEX likewise serves as a gateway to private core real estate but implements a slightly different approach that allows for a portion of assets to be held in funds outside of the NFI-ODCE Index. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. The expansion of the USQ strategies is aligned with long-term plans for the firm. “This acquisition highlights our commitment to growing our asset management business through both organic growth and strategic acquisitions,” said Matt Henry, Managing Partner and Founder of USQ and Chief Executive Officer of Chatham Financial. The performance quoted represents past performance. Past performance does not guarantee future results. The current performance may be lower or higher than the performance data quoted. The investment return and principal value of the Fund will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month end may be obtained by calling 1-833-877-3863 for USQIX or 1-877-940-7202 for PRDEX. Fund returns reflect actual fee waivers and reimbursement of expenses for the time periods represented. Had fees and expenses not been waived and reimbursed, returns would have been lower. See each fund’s prospectus for more information on current fees and expenses. About USQ USQ, a wholly owned subsidiary of Chatham Financial Corp., is an investment management firm providing access to inventive strategies for real asset investing. The USQ platform leverages in-depth knowledge of real estate financing complexities to offer modern investing approaches spanning the needs from registered investment advisors to institutional investors. Union Square Capital Partners, LLC brings low-cost, institutional private real estate to wealth managers. About Chatham Financial Chatham Financial is the largest independent financial risk management advisory and technology firm. A leader in debt and derivative solutions, Chatham provides clients with access to in-depth knowledge, innovative tools, and an incomparable team of over 600 employees to help mitigate risks associated with interest rate, foreign currency, and commodity exposures. Founded in 1991, Chatham serves more than 3,000 companies across a wide range of industries — handling over $750 billion in transaction volume annually and helping businesses maximize their value in the capital markets, every day. To learn more, visit chathamfinancial.com.

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Spotlight

Banks are exposed to climate-related risks through their lending and financial service activities, including project finance, equity, and debt underwriting. These risks are real and wide-ranging. A recent study estimates that the value at risk for investors from climate change, under a business-as-usual scenario, may be equivalent to a permanent reduction of up to 20% in portfolio value in just over a decade.

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