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Focused <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which invest in a concentrated portfolio of <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, are gaining traction among investors with the <keyword id="22748135" type="General" weightage="20" keywordseo="asset-base" source="keywords">asset base</keyword> of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31% from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as <keyword id="22748136" type="General" weightage="20" keywordseo="Invesco-India-Focused-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Invesco India Focused Fund" meta.hostid="261" meta.entityid="Invesco India Focused Fund">Invesco India Focused Fund</keyword>, Mahindra Manulife Focused Fund, JM Focused Fund, and <keyword id="19896378" type="General" weightage="20" keywordseo="hdfc" source="keywords">HDFC</keyword> Focused 30 Fund delivered a remarkable return of 40-60% in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector. According to data from the <keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India (Amfi), the assets under management (AUM) of the focused funds were at Rs 1.43 lakh crore in the June quarter 2024-25 as compared to Rs 1.09 lakh crore in April-June FY24. This growth highlights the appeal of focused funds as an alternative to portfolio management services (<keyword id="19950020" type="General" weightage="20" keywordseo="pms" source="keywords">PMS</keyword>), especially with recent tax changes that make PMS less attractive due to higher costs and tax implications, Feroze Azeez, Deputy CEO, of Anand Rathi Wealth Ltd, said. "With the increase in taxation on both small-term capital gain tax and long-term capital gain tax, PMS portfolios are expected to see a drop in post-tax returns. For example, a PMS portfolio generating a pre-tax return of 14 % could see post-tax returns drop from 11.73 % to 11.29 %. This shift could lead to fund managers churning portfolios less frequently, which in turn will be affecting returns for investors," he added. Focused funds follow a similar concentrated portfolio strategy where the fund manager picks the top stocks and offers flexibility across market caps. Thus, becoming a more attractive option for investors looking to optimize their returns. Industry experts recommend investing in focused funds through systematic investment plans (SIPs) as a smart strategy in the current market environment of sector rotation and high valuations. Since these funds invest in a small number of stocks, SIPs can help reduce risk by spreading out investments over time. Overall, there are 31 focused schemes offered by different mutual fund houses in the category. These schemes have given returns of 19-60% in the last one year. In terms of returns, smaller funds have performed exceptionally well. The Invesco India Focused Fund delivered a remarkable return of over 60% in the past year, while Mahindra Manulife Focused Fund provided around 50% returns and JM Focused Fund offered a return of 45% during the period. With a corpus of Rs 1,552 crore as of June 2024, Mahindra Manulife Focused Fund has consistently performed well, securing the second rank for 1, 2, and 3-year periods. The fund delivered returns of 50%, 32%, and 26% over these periods, respectively. HDFC Focused 30 Fund achieved the top rank over the 3 years with a return of 28.63 %, while JM Focused Fund secured the third rank with a 25 % return during the same period. "The success of focused funds underscores the importance of skilled fund management and strategic stock selection," an industry expert said. Focused funds opt for a more targeted strategy rather than the broad diversification typical of traditional mutual funds. This approach helps fund managers make investments in a carefully selected group of stocks, reflecting their strongest investment beliefs. The concentrated nature of these portfolios requires careful selection of each stock, as the fund's performance heavily depends on these choices. Although these funds hold a limited number of stocks, they are structured to be sufficiently diversified to effectively manage risk. Overall, the assets of the equity mutual funds rose to Rs 27.6 lakh crore in June 2024 from Rs 17.43 lakh crore in June 2023.

Focused MFs' asset base rises 31% to Rs 1.43 lakh cr in June qtr; up to 60% returns last year

<keyword id="45673" type="General" weightage="100" keywordseo="porsche" source="Orion">Porsche</keyword> unveiled plans to launch a new all-electric SUV as it reported a rise in sales and profit in its first annual earnings since parent Volkswagen took the sports-car maker public last year, according to the <keyword id="6384660" type="General" weightage="50" keywordseo="wall-street-journal" source="Orion">Wall Street Journal</keyword>. The German company said on Monday that the new luxury SUV would be a cornerstone of its plan to boost profitability by having a sharper, strategic focus on high-end automotive consumers. While Porsche has always made high-end vehicles, like the iconic 911 and its all-electric sedan, the Taycan, the company is seeking to follow rivals like Ferrari, Mercedes-Benz Group and <keyword id="91409" type="General" weightage="50" keywordseo="aston-martin" source="Orion">Aston Martin</keyword> Lagonda Global Holdings in targeting the growing ranks of the world's wealthiest consumers, <keyword id="51124" type="General" weightage="50" keywordseo="wsj" source="Orion">WSJ</keyword> said. "We are underlining and strengthening our sporty luxury positioning," said Porsche Chief Executive Officer <keyword id="3078430" type="General" weightage="50" keywordseo="oliver-blume" source="Orion">Oliver Blume</keyword>. "We see there are growing profit pools in this segment, especially in China and the US." Blume did, though, add that the design of the new all-electric SUV would feature Porsche's typical curving front-to-rear fly line, give a strong electric performance and include a range of fully automated functions. The SUV will be based on Porsche's own performance EV technology, WSJ said. Porsche was among the first high-end sports carmakers to venture into the growing SUV market when it launched the Cayenne in 2002. According to WSJ, The success of the vehicle, and its smaller cousin, the Macan, launched in 2014, inspired other luxury carmakers including Bentley and Lamborghini to develop their own luxury SUVs. The Wall Street Journal said an all-electric version of the Macan is due to be launched next year after a delay because of troubles with VW's software. An all-electric version of the 718 sports car is slated to come to market next year, followed later by the launch of a new electric generation of the company's Cayenne SUV. VW holds 75 per cent of Porsche. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/avoid-ai-chatbots-that-dont-appear-on-companys-website-or-app-warn-researchers/articleshow/98629176.cms">Avoid AI chatbots that don't appear on company's website or app, warn researchers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-shares-of-indigo-paytm-pvr-nazara-technologies-among-others-in-february/articleshow/98630434.cms">MFs add shares of Indigo, Paytm, PVR &amp; Nazara Technologies among others in February</a>

Porsche plans new electric luxury SUV as profit rises

Microsoft-owned open-source developer platform <keyword id="1505863" type="General" weightage="100" keywordseo="github" source="Orion">GitHub</keyword> has announced the launch of Copilot X, the company's vision for the future of AI-powered software development. GitHub has adopted <keyword id="3169059" type="General" weightage="50" keywordseo="openai" source="Orion">OpenAI</keyword>'s new GPT-4 model, and introduced chat and voice for Copilot, bringing Copilot to pull requests, the command line, and docs to answer questions on developers' projects. "From reading docs to writing code to submitting pull requests and beyond, we're working to personalise <keyword id="13523259" type="General" weightage="50" keywordseo="github-copilot" source="Orion">GitHub Copilot</keyword> for every team, project, and repository it's used in, creating a radically improved software development lifecycle," <keyword id="12473215" type="General" weightage="50" keywordseo="thomas-dohmke" source="Orion">Thomas Dohmke</keyword>, CEO at GitHub, said in a statement. "At the same time, we will continue to innovate and update the heart of GitHub Copilot -- the AI pair programmer that started it all," he added. The company is bringing a chat interface -- "Copilot chat" to the editor, which will be focused on developer scenarios and natively integrate with VS Code and Visual Studio. Copilot chat will recognise what code a developer has typed, and what error messages are shown, and it's deeply embedded into the IDE (Integrated Development Environment). Copilot chat will also join GitHub's voice-to-code AI technology extension the company previously demoed, which it's now calling "Copilot voice", where developers can verbally give natural language prompts, according to the company. Moreover, developers can now sign up for a technical preview of the first AI-generated descriptions for pull requests on GitHub. This new feature comes powered by OpenAI's new GPT-4 model and adds support for AI-powered tags in pull request descriptions via a GitHub app that can be installed by organisation admins and individual repository owners. GitHub is also launching Copilot for docs, an experimental tool that uses a chat interface to provide users with AI-generated responses to questions about documentation -- including questions developers have about the languages, frameworks, and technologies they are using, the company said. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/first-82-days-of-2023-see-more-layoffs-than-the-entire-2022/slidelist/98960848.cms">First 82 days of 2023 see more layoffs than the entire 2022</a> <a href="https://www.businessinsider.in/business/news/debt-schemes-of-mfs-lose-edge-over-bank-deposits-as-budget-proposes-to-scrap-ltcg-indexation-benefits/articleshow/98965932.cms">Debt schemes of MFs lose edge over bank deposits as Budget proposes to scrap LTCG &amp; indexation benefits</a> <a href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a>

GitHub launches AI-powered Copilot X, adopts OpenAI's GPT-4 model

At least 36 per cent of senior management positions are now being held by women in India's mid-market businesses, a report has revealed. With 36 per cent of women in leadership roles, India is ahead of the BRICS (34 per cent) and G7 (30 per cent) averages. "Sadly, 5 per cent of mid-market businesses in India still don't have any <keyword id="16760013" type="General" weightage="20" keywordseo="women-in-senior-leadership-roles" source="Orion">women in senior leadership roles</keyword>," according to <keyword id="16760014" type="General" weightage="20" keywordseo="Grant-Thorntons-International-Business-Report" source="Orion">Grant Thornton's International Business Report</keyword>. Globally, 32 per cent of senior management positions are now held by women in mid-market businesses. Alarmingly, 9 per cent of such businesses still have no women in senior leadership roles globally. "To push for better parity, businesses must adopt a hybrid or flexible approach, create a supportive and understanding culture, and focus on employee well-being and mentoring programmes that support women," said Pallavi Bakhru, Partner, Grant Thornton Bharat. Working towards improving diversity, especially at senior levels, is not only the responsible thing to do but also the right thing to do commercially. "It is a proven driver of performance," she added. All regions (Africa, APAC, ASEAN, Latin America, North America, EU) surpassed the 30 per cent figure for women in senior management for the first time. The ASEAN region experienced the most significant percentage point rise among the regions, increasing from 37 per cent to reach 40 per cent mark. Globally, 36 per cent of mid-market businesses are now working purely office-based, and 53 per cent have a hybrid approach. In India, 62 per cent of such businesses are adopting a hybrid model, 27 per cent are still primarily office based, 5 per cent of staff is permanently home-based and 5 per cent have a fully flexible schedule and choice to choose where to work from, the report noted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mfs-hit-a-9-month-high-in-feb-retail-mf-folios-at-record-high/articleshow/98546135.cms">Inflows into equity MFs hit a 9-month high in Feb, retail MF folios at record high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/not-just-game-of-thrones-144-hbo-originals-are-exiting-disney-hotstar/slidelist/98541137.cms">HBO Originals White Lotus, Big Little Lies &amp; more that'll vanish from Disney+Hotstar</a>

36% of senior positions in India's mid-market held by women:  Grant Thornton's International Business Report

<ul><li>The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures. </li><li>The <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> that are happening in cohorts, are mostly to restructure the workforce according to changing business objectives. </li><li>Basic IT roles, new initiatives roles, and anything else that automation/semi-automation can take over are at risk. </li></ul>Layoffs are in the news. The reasons are many but <keyword id="604702" type="General" weightage="20" keywordseo="employee-performance" source="Orion">employee performance</keyword>. And that is the definition of layoff too —- the <a href="https://dictionary.cambridge.org/dictionary/english/act">act</a> of <a href="https://dictionary.cambridge.org/dictionary/english/ending">ending</a> a worker's <a href="https://dictionary.cambridge.org/dictionary/english/job">job</a>, sometimes <a href="https://dictionary.cambridge.org/dictionary/english/temporarily">temporarily</a>, usually because there is not enough <a href="https://dictionary.cambridge.org/dictionary/english/work">work</a> to do. Start-ups that raised capital during the go-go days of the pandemic, are now waking up to a different reality, where the next round of capital will be scarce and the business case is looking tougher, which is why these companies have led the layoffs in India. Since layoffs are not necessarily about the performance of employees, Business India spoke to a variety of human resource experts to understand what segments are at risk. Oftentimes, companies permanently discharge workers because of economic conditions or shortage of work. In such a situation, someone is laid off not necessarily based on one’s performance but because the role is not relevant any more. Here’s what we found: <cmsannotation type="cmsannotation" annotationid="Core functions are least at risk" comment="subhead2" text="Core functions are least at risk">Core functions are least at risk</cmsannotation> As unfortunate as it may be, but the first to get axed are the support functions. Revenue-generating functions are relatively safe from such mass layoffs. “During all slowdowns, companies prioritize retaining employees who are essential to their core operations and revenue-generating activities. However, we have seen new trends during certain slowdowns, such as the Covid-19 pandemic, where certain industries and job roles may be more vulnerable due to factors such as reduced demand, temporary closures, or shifts in consumer behaviour,” says Sanjay Shetty, director, professional search &amp; selection, and strategic accounts, Randstad India, a HR consulting firm. On the other hand, he adds that currently, the layoffs which are happening in cohorts, are mostly to restructure the workforce according to the changing business objectives. <cmsannotation type="cmsannotation" annotationid="A changing reality" comment="subhead2" text="A changing reality">A changing reality</cmsannotation> “High inflation has put a significant strain on margins. We have seen Q2 and Q3 results in India where revenues were in line with market expectations but margins were lower. As companies finalize their FY24 plans, every cost item is scrutinized, and any excess is identified and trimmed,” says Mayur Taday, chief business officer, TeamLease Services, an HR firm. During Covid, most companies focused on strategy for the post-Covid world, including digitalisation and forecasting demand based on specific themes. In accordance with the demand forecast, they constructed organizational structures and costs. IT companies, in particular, have been recruiting with the expectations of better days, which have not come about. Several assumptions were not validated due to geopolitical factors, disruptions in the supply chain, and unpredictability of consumer behaviour. Following Covid, the demand-supply situation forced higher-cost hiring. “The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures,” adds Taday. Experts agree that you are more likely to be laid off if you are in one of the following roles. Anything that automation can take over: “The likes of ChatGPT will take away <keyword id="11018" type="General" weightage="80" keywordseo="jobs" source="Orion">jobs</keyword> that demand significantly fewer variations besides being repetitive like coding, data entry etc,” says Rishi Patil, founder and director, Executive 81, a recruitment firm. So basic jobs which do not require any social or emotional intelligence are likely to be redundant. New initiative roles: “New initiatives roles are among the few types of specific job roles that are most at risk during layoffs,” says Shetty. During a good phase companies have expansion plans and recruit people for that purpose. During lean times, such jobs are at a threat of being terminated unless the company is making a specific effort to pivot into these new areas. Overpaid hiring: The demand supply situation is now tilted in the favour of supply. “All such hirings that were overpaid as a result of the then-prevailing overheated demand situation are being scrutinized,” says Taday. So, those being paid significantly above market rates, have a higher chance of losing their job. Contractual workers: According to a report by recruitment firm Spectrum Talent Management, 50% of Indian first were hiring contract employees amidst mass layoffs, since they were trying to avoid increasing their fixed costs. “Contractual workers in some cases might also feel the heat during downsizing due to the seasonal nature of their jobs,” says Shetty. Since these employment terms are for a certain period, the company may not renew it when the requirement is over. <cmsannotation type="cmsannotation" annotationid="Hiring to continue" comment="subhead2" text="Hiring to continue">Hiring to continue</cmsannotation> “We must understand that while organizations have, in some cases, adopted a strategic layoff approach, they are also hiring at a fairly reasonable pace. We expect companies in the IT, telecommunications, and services sectors to continue hiring due to increased digitization, 5G expansion, and a rebound in service sectors to pre-Covid levels of growth,” says Shetty. According to an internal survey by Randstad India, seven out of ten tech companies plan to increase their headcount in the next couple of months, suggesting that hiring in the Indian IT sector is likely to pick up as well. “Compared to the previous year, they expect a 25-30% increase in demand for tech talent in non-tech industries in 2023, driven over by the continued digitization of operations as these industries strive for greater scalability,” says Shetty. Says Saumitra Chand, career expert at Indeed, a job search portal, “We are seeing an increase in demand for talents in non-tech sectors such as healthcare, food services, construction and education. Even sectors like marketing, which was one of the earliest to see layoffs during the pandemic, has picked up steam.” To sum up, everything in the job space is evolving at a rapid pace. If one is not relevant to the new paradigm, their job is at risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-shares-of-indigo-paytm-pvr-nazara-technologies-among-others-in-february/articleshow/98630434.cms">MFs add shares of Indigo, Paytm, PVR &amp; Nazara Technologies among others in February</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sonys-new-camera-allows-visually-impaired-to-enjoy-photography-to-the-fullest/articleshow/98628614.cms">Sony’s new camera allows visually impaired to enjoy photography to the fullest</a>

Is your job at risk? If you're working in any of these roles then you need to be worried

<ul><li>Reliance Industries’ consumer businesses are expected to drive earnings growth going forward.</li><li>However, RIL’s aggressive expansion in its retail and 5G investments have led to its capital expenditure rising to an all-time high in FY23.</li><li>Brokerages maintained their bullish outlook on the company, noting that the leverage levels are expected to remain comfortable thanks to strong cash flows.</li></ul>In spite of its Q4 earnings beating analyst estimates, RIL stock traded flat on Monday as the street continues to remain cautious on account of its growing capex. In March, the stock touched a 52-week low of ₹2,180, and has been trading flat since the beginning of April. And, the recent earnings report hasn’t changed the trajectory. In the morning trade on Monday, its shares rose 0.2% to ₹2,354 and gave up most of the early morning gains due to profit booking. Reliance Industries Q4 <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">net profit rose</a> 19% YoY to ₹19,299 crore due to steady growth in the consumer businesses, and its revenues grew 2% to ₹2.16 lakh crore. For the full FY23, RIL <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">reported</a> a 9.9% rise in net profit to ₹66,702 crore, while the earnings before interest, taxes, depreciation and amortization (EBITDA) was ahead of brokerage estimates at ₹1.4 lakh crore. The oil-to-data giant’s FY23 revenue grew 23.7% to ₹8.93 lakh crore. <cmsannotation type="cmsannotation" annotationid="Capital expenditure at an all-time high, funded by strong cash flows" comment="subhead" text="Capital expenditure at an all-time high, funded by strong cash flows">Capital expenditure at an all-time high, funded by strong cash flows</cmsannotation> While the topline and bottomline growth was ahead of estimates, RIL’s capital expenditure also rose to an all-time high of ₹1.4 lakh crore due to acquisition of 5G spectrum and rollout of 5G services. This also led to a 43% YoY rise in depreciation to ₹11,456, which impacted the company’s bottomline. However, brokerages do not seem to be concerned even as the capex and EBITDA both came in at ₹1.4 lakh crore for the whole year. “Capex rose to $17.6 billion in FY23 but this was fully funded by cash profits,” said a report by Goldman Sachs, adding that this gives a “comforting leverage guidance”. Brokerages also maintain that going forward, Jio-related capital expenditure will climb down since the company has front-loaded it as it seeks to complete the pan-India rollout of 5G by the end of 2023. <cmsannotation type="cmsannotation" annotationid="Brokerages see a 25% upside in the next 12 months" comment="subhead" text="Brokerages see a 25% upside in the next 12 months">Brokerages see a 25% upside in the next 12 months</cmsannotation> Analysts believe that RIL’s consumer business will be a key growth driver going forward. A rise in gross refining margins will be key for growth in the company’s O2C earnings, and also help it finance the new energy ambitions while maintaining debt at comfortable levels. Brokerages maintain their bullish outlook on the company, with an average target price of ₹2,954 in the next 12 months, presenting an upside of around 25%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,125 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overweight </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,960 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,890 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,900 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nuvama Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,205 </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: Brokerages <cmsannotation type="cmsannotation" annotationid="Retail business steady, but softness observed in certain segments" comment="subhead" text="Retail business steady, but softness observed in certain segments">Retail business steady, but softness observed in certain segments</cmsannotation> <keyword id="58448" type="General" weightage="20" keywordseo="Reliance-Retail" source="Orion">Reliance Retail</keyword> <a href="https://www.businessinsider.in/business/corporates/news/reliance-retails-q4-net-profit-grows-12-9-on-the-back-of-rapid-expansion/articleshow/99673732.cms">posted</a> a 12.9% growth in net profit to ₹2,415 crore in the March quarter aided by growing footfalls, new store additions and high conversions. “In retail, with very sharp retail space growth, the rising share of new commerce and FMCG forays, growth will likely sustain at a fast clip,” said a report by Kotak Institutional Equities. In FY23, the company opened over 3,300 stores taking the total count to 18,040 stores. However, as they added more stores and warehousing space, depreciation went up by 91% to ₹1,188 crore during the quarter along with finance costs that shot up by 148%. <keyword id="58448" type="General" weightage="20" keywordseo="Reliance-Retail" source="Orion">Reliance Retail</keyword> is yet to fully ramp-up its operations from stores absorbed from Future Retail, which has led to its per square feet revenue to remain below the pre-Covid levels, said Jefferies. While Reliance Retail sounded excited about its foray into FMCG and beauty space, high capex due to expansion would have resulted in higher debt levels, say brokerages. “While we like Reliance Retail’s positioning in Indian retail, we remain perplexed with poor disclosures which leaves a lot to imagination,” it said. <cmsannotation type="cmsannotation" annotationid="Jio: Adding subscribers but with low yields" comment="subhead" text="Jio: Adding subscribers but with low yields">Jio: Adding subscribers but with low yields</cmsannotation> Reliance Jio <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-net-profit-grows-1-7-sequentially-at-4716-crore-in-q4-fy23/articleshow/99674353.cms">reported</a> a net profit growth of 1.7% sequentially to ₹4,716 crore in March quarter from ₹4,638 crore last quarter. Its revenue from operations also grew marginally by 1.7% sequentially to ₹23,394 crore as compared to ₹22,998 crore in the previous quarter. “Although subscriber additions were strong and higher than expected, revenue growth was sluggish, due to disappointing ARPU growth (flat QoQ). We believe lower ARPU growth could be attributed to Jio doing away with most of the low end users and absence of any direct tariff hike in the quarter,” said Nuvama Institutional Equities in a report. The telecom business is currently focused on 5G roll out across India by December 2023. So far Jio has extended coverage of its 5G services to over 2,300 cities/towns across India. “In Jio, the near-term focus will be 5G and accelerated fixed broadband rollouts. As customer engagement picks up, we believe there is a case for tariff hike, but we conservatively assume tariff hike only after 2024 general elections,” said a report by Kotak Institutional Equities. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/-some-sectors-will-benefit-from-lower-energy-prices-in-fy24-a-balasubramanian/articleshow/99722850.cms">Earnings to remain volatile in FY24, but some sectors will benefit from lower energy prices, says Aditya Birla Sun Life MF’s CEO A Balasubramanian</a> <a href="https://www.businessinsider.in/finance/banks/news/yes-bank-drops-nearly-5-as-high-provisions-drag-down-its-q4-net-profit/articleshow/99721698.cms">Yes Bank stock slips 5% as high provisions drag down its Q4 net profit</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a>

RIL’s Q4 performance keeps brokerages bullish on the company’s prospects

<ul class="summary-list"><li>BI Africa is hosting its inaugural awards to recognize outstanding individuals in business.</li><li>The 11 awards categories span Sub Saharan Africa's market landscape.</li></ul><keyword id="13524733" type="UNKNOWN" weightage="100" keywordseo="business-insider-africa" source="Orion">Business Insider Africa</keyword> is pleased to announce the launch of its inaugural <a href="https://africa.businessinsider.com/awards/the-business-insider-africa-awards-2022-are-live/812g683">Business Insider Africa Awards</a>, recognizing influential business leaders and entrepreneurs who are driving change and making a significant impact in Sub Saharan Africa (SSA). The Business Insider Africa awards kicked off with the nomination process, handled by the jury panel from diverse backgrounds across Sub Saharan Africa, whose talents and contributions to the continent and environment are instrumental to building a community of African leaders.<a href="https://africa.businessinsider.com/awards/meet-the-jury-for-business-insider-africa-awards/ww155ev">Click here to meet our Jury panel team for the Business Insider Africa Awards.</a>The award focuses on recognizing extraordinary individuals across 11 business categories that cover Sub Saharan Africa's market landscape.The nominees who emerge with the highest votes in each category will be crowned winners at the virtual award ceremony on April 12th 2022.Here are the nominees:<h2>Marketing Professional of the Year</h2><ul><li>Christiane Mbimbe Bossom - Group Corporate Communication Manager at Ecobank Transnational Incorporated</li></ul><ul><li>Onyedikachim Nwankwo - Head Of Product Marketing at Flutterwave</li></ul><ul><li>Osobajo Olufemi - Head of Marketing &amp; Corporate Communications at Bet9ja</li></ul><ul><li>Olajumoke Kujero - Head of Marketing at Jumia Nigeria</li></ul><ul><li>Christine Maina - General Manager (Marketing) at Brookside Dairy</li></ul><h2>Fintech Leader of the Year</h2><ul><li>Olugbenga Agboola- CEO at Flutterwave</li></ul><ul><li>Tayo Oviosu - Founder/CEO of Paga</li></ul><ul><li>Dare Okodjou - Founder/CEO of MFS Africa</li></ul><ul><li>Andrew Takyi-Appiah - Director at Zeepay</li></ul><ul><li>Curtis Vanderpuije - CEO at ExpressPay</li></ul><h2>Internet Entrepreneur of the Year</h2><ul><li>Sim Shagaya - Founder and CEO of uLesson Education Limited</li></ul><ul><li>Onyeka Akumah - Co-founder &amp; CEO Treepz</li></ul><ul><li>Peter Njonjo - Founder/CEO of Twiga Foods</li></ul><ul><li>Jihan Abass - Founder and CEO, Lami Insurance Technology</li></ul><ul><li>Olugbenga Agboola -CEO at Flutterwave</li></ul><h2>Young CEO of the Year award</h2><ul><li>Gregory Rockson - CEO of mPharma</li></ul><ul><li>Ham Serunjogi - CEO of Chipper Cash</li></ul><ul><li>Shola Akinlade - CEO of Paystack</li></ul><ul><li>Odunayo Eweniyi - Chief Operating Officer at PiggyVest</li></ul><ul><li>Olugbenga Agboola - CEO of Flutterwave</li></ul><h2>Social Entrepreneur of the Year</h2><ul><li>Toyosi Akere-Ogunsiji - CEO of Rise Networks</li></ul><ul><li>Orondaam Otto - Founder/CEO of Slum2School</li></ul><ul><li>Misha Teasdale - Co-Founder &amp; Director at Greenpop</li></ul><ul><li>Tunde Onakoya - Founder of Chess in Slums Africa</li></ul><ul><li>Shamim Nabuuma Kaliisa - Founder and executive director at Chil Artificial Intelligence Lab</li></ul><h2>Business Influencer of the Year</h2><ul><li>Vusi Thembekwayo - Chief Executive Officer of MyGrowthFund Venture Partners</li></ul><ul><li>Dr Ola Brown - Co-founder of Flying Doctors Nigeria</li></ul><ul><li>Reno Omokri - Author/Motivational Speaker</li></ul><ul><li>Victor Asemota - Board Chair at EdoInnovates </li></ul><ul><li>Tony Elumelu - Chairman, Heirs Holdings</li></ul><h2>Female Leader of the Year</h2><ul><li>Ngozi Okonjo Iweala - Director-General of the World Trade Organization</li></ul><ul><li>Funke Opeke - MD of MainOne</li></ul><ul><li>Rebecca Enonchong - Co-founder of Logiciel</li></ul><ul><li>Maya Horgan Famodu - Founder &amp; Partner at Ingressive Capital</li></ul><ul><li>Miishe Addy - CEO/Co-founder, Jetstream Africa</li></ul><h2>Tech Investor of the Year</h2><ul><li>Iyinoluwa Aboyeji - MD, Future Africa</li></ul><ul><li>Dr Ola Brown - Director at GreenTree VC</li></ul><ul><li>Kola Aina - General Partner, Ventures Platform</li></ul><ul><li>Maya Horgan Famodu - Founder &amp; Partner at Ingressive Capital</li></ul><ul><li>Olugbenga "GB" Agboola - CEO of Flutterwave</li></ul><h2>Creative Leader of the Year</h2><ul><li>Mo Abudu - CEO of EbonyLife</li></ul><ul><li>Bethlehem Tilahun Alemu - Founder, SoleRebel</li></ul><ul><li>Michael Collins Ajereh (Don Jazzy) - Founder and Record Executive at Mavin Records</li></ul><ul><li>Chimamanda Ngozi Adichie - Nigerian novelist</li></ul><ul><li>Imane Ayissi - Cameroonian fashion designer</li></ul><h2>Serial Entrepreneur of the Year</h2><ul><li>Strive Masiyiwa - Founder of Econet Global and Cassava Technologies</li></ul><ul><li>Dr Ola Brown - Co-founder of Flying Doctors Nigeria</li></ul><ul><li>Jason Njoku - Founder of iRokoTV</li></ul><ul><li>Eunice Ajim - Founding Partner at Ajim Capital</li></ul><ul><li>Odunayo Eweniyi - COO at PiggyVest</li></ul><h2>Entrepreneurship Lifetime Achievement Award</h2><ul><li>Funke Opeke - MD of MainOne</li></ul><ul><li>Strive Masiyiwa - Founder of Econet Global and Cassava Technologies</li></ul><ul><li>Tony Elumelu - Chairman, Heirs Holdings</li></ul><ul><li>Tara Fela-Durotoye - Nigerian beauty entrepreneur</li></ul><ul><li>Mo Ibrahim - Sudanese-British billionaire businessman</li></ul>

The Business Insider Africa Awards are here — meet the nominees and jury panel

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul><li>Michael Burry, the investor made famous by "The Big Short," told Bloomberg Wednesday that he sees a bubble in passive investing. </li><li>Many other money managers have called out the investment strategy, which they say isn't the best course of action for investors in the current market environment. </li><li><a href="https://markets.businessinsider.com/">Read more on Markets Insider. </a></li></ul>Michael Burry, the investor that famously<a href="https://markets.businessinsider.com/news/stocks/big-short-investor-michael-burry-calls-passive-investment-a-bubble-2019-8-1028481790"> shorted mortgage securities before the 2008 housing crisis, </a>told Bloomberg on Wednesday that he sees a "bubble" in passive investing. That bubble is ignoring small-cap stocks, said Burry, who was a key figure in Michael Lewis' bestselling book "The Big Short" and was played by Christian Bale in the movie with the same name. The problem is happening because the pillars of passive investing - exchange-traded funds and index-based assets- mostly focus on bigger companies. This puts downward pressure on the stocks of smaller companies and has effectively "orphaned smaller value-type securities globally," he wrote to Bloomberg in an email.Burry isn't the only investor calling out passive investing. Over the last few years, as passive investing has grown in size and popularity, many investors have called out flaws in the approach, which minimizes buying and selling to protect investors from dips in performance that can come with frequent trading. In today's current market environment, where a number of <a href="https://markets.businessinsider.com/news/stocks/yield-curve-inversion-deepest-since-2007-flashes-recession-signal-2019-8-1028478146">recession indicators are flashing</a> and <a href="https://markets.businessinsider.com/news/stocks/recession-signal-bond-fund-inflows-hit-3-month-record-slowdown-2019-8-1028469954">investors are becoming increasingly nervous</a>, money managers have also argued that passive strategies can set up investors for major losses if an unexpected market downturn occurs. Active managers should be positioning client portfolios for a downturn or recession, Bill Adams, the chief investment officer of fixed income for MFS Investment Management, told Markets Insider. "No one's good enough to tell you when the recession comes. But it's starting to look and feel and smell a lot like it's on the horizon." A passive investor buying passive strategies is just buying the market, Adams said, not necessarily positioning portfolios for a specific outcome. Here are some other big name investors that have spoken about issues with passive investing.

'Big Short' investor Michael Burry is calling passive investment a 'bubble.' He's not the only finance luminary sounding the alarm.

If you are looking to invest in a <keyword id="6354820" type="ORGANIZATION" weightage="20" keywordseo="mutual-fund">Mutual Fund</keyword> (MF), you will find one that will match your needs but with so many companies, each with so many schemes, it will be a difficult journey to find one that fits the requirement. 
 
Here, we will focus on a few parameters that will help you in choosing the right mutual fund for investment depending on an individual’s requirements. 
 
Ø Identify the objective: Like stated before, there is a right kind of mutual fund for everyone and every need. So, the first thing one needs to do is identify their objective for <keyword id="35175" type="UNKNOWN" weightage="20" keywordseo="investing">investing</keyword> in the mutual fund. This can be based on the timeline for investment (short or long term) or the financial goal. For instance, if Asha is looking to invest in a mutual fund to save tax; an Equity Linked Savings Scheme (ELSS) will suit her requirements, while Mr. Mehta is looking for a regular flow of income so for him a Monthly Income Plan (MIP) is required. So the first step is to be sure about the reason for investing in a MF so that you can focus on that segment and choose a scheme that suits you best. You can have multiple funds to satisfy one objective or different fund to meet different kinds of goal. 
 
Ø Asses your Risk Appetite: Mutual funds are managed by professionals and generally these professionals base their decisions on extensive research. However one cannot forget the MFs are market linked products which means they are susceptible to market risk and they do not have guaranteed but have indicative returns. So before choosing a scheme it is important to understand if it matches your objectives and whether it matches your risk appetite also or not. Equity funds are high risk and high returns, while debt funds lie on the other end of the spectrum. Balanced funds as the name suggests lie somewhere in between. Generally those in advanced years do not prefer equity oriented schemes while the younger investors can afford to invest in equity funds and take some risk. 
 
Ø Focus on History: As stated earlier, MFs are market related instruments so there can be no guaranteed returns. Even for debt funds the returns are indicative; so how does an investor decide if the fund will deliver what it promises in terms of returns? This can be assessed to an extent by looking at the past performance which can be indicative of the expected future returns but again there is no surety that in the future also a similar pattern will be followed. Looking at the past returns can help in assessing a trend that a mutual fund follows in terms of returns. 
 
Ø Use Statistics: Apart from returns, certain other numbers are also important when choosing the right mutual fund. Alpha is one such indicator; it is a measure of MF’s performance on a risk adjusted basis and as compared to the benchmark. A positive alpha indicates that the fund is doing well. Beta is the measure of fund’s volatility as against the benchmark. It measures the fund’s sensitivity to changes in the market. For an investor with low risk appetite a fund which has a beta value less than one is the right choice and the opposite is true for those are willing to have a bigger risk appetite. Standard deviation in terms of a MF will indicate its volatility; how much the returns deviate from the expected returns calculated based on the past performance. An investor should also keep an eye on the various costs that he/she incurs as these costs ultimately impact the overall profitability of a mutual fund. 
 
Ø Pedigree is Important: Another factor that one should focus on while selecting a mutual fund is the fund house that is promoting it and who the fund manager is. Choosing a well known and experienced fund house will ensure that they will not indulge in unethical practices or will go bust while leaving you in the lurch. A fund manager decides which instruments or securities to invest in so an experienced and knowledgeable fund manager will ensure that you get good returns on your investments. Being preemptive and not reactive is what distinguishes a good fund manager from an average one. 
 
The above factors can hopefully help you in choosing the right mutual fund for yourself which not only helps you in meeting your financial goal but is also a safe and profitable investment. 
 
(Rajiv Raj is the Director and Co-Founder of www.creditvidya.com) 
 
(Image: ThinkStock)

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