Outlook Money, Jul 3, 2019
Prateek Pant, Head, Products and Solutions, Sanctum Wealth Management explains whether HNIs should review their portfolio for major events like budget, in a conversation with Himali Patel.
1. How do you expect the Union Budget 2019 to play out for HNIs?
High Net Worth Individuals (HNIs) would be hoping for rationalisation of direct taxes and no additional surcharges on personal tax. Additionally, any favourable outcome on Long Term Capital Gains and dividend taxation would make a significant difference. Also, they would be hoping that no changes are made to current Wealth Tax provisions or Estate Taxes, if any should be introduced in a calibrated manner.
2. What are the different asset classes or investment tools you would recommend to your HNI clients basis the Budget expectations?
Our advice to HNI clients is staying the course with individual goals and not being swayed by market noises. In this context it is always important to review the strategic asset allocation of the portfolios and employing tactical strategies to benefit on the margin from volatility. In other words, a sound portfolio structure, a small number of tactical decisions and otherwise staying the course should remain the investing mantra. Budget expectations should not drive portfolio decisions.
3. How should a HNI investor review his or her portfolio for major events like Budget?
Budget is just one of the many events that an investor faces throughout his investment journey. He should stick to asset allocation basis his investment goals. However, post budget review may present tactical investment opportunities due to favourable sector outlook or significant changes in taxation. A competent financial advisor should be able to make changes in the portfolio to enhance post-tax returns.
4. Which are the challenges that you would like the Union Budget 2019 to address?
The upcoming budget needs to address challenges around a slowing economy, distress in rural economy and continued infrastructure spending, but still manage the fiscal mathematics. Since private capex is still lagging, need of the hour for government is to provide measures to boost affordable housing and infrastructure spend which shall indirectly revive consumption with lag effect.
Registered Office: CoWrks, Level 3, Birla Centurion, Century Mill Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400030 Contact number: +91 22 6288 6100 | CIN: U74140MH2015PTC264932
CoWrks, Level 3,
Birla Centurion, Century Mill Compound,
Pandurang Budhkar Marg, Worli, Mumbai - 400030
Contact number: +91 22 6288 6100
| CIN: U74999MH2017PTC302008 |
Real Estate Regulatory Authority License no. (A51900011805)
For any grievance or disputes please contact us at the above address and phone number or send us an email to firstname.lastname@example.org. In case you are not satisfied with the response, you may contact the stock exchanges directly: (NSE) Tel: +91 22 2659 8190 / 1800 2200 58 (Toll free) or Email: email@example.com; (BSE) Tel: +91 22 2272 809 or Email: firstname.lastname@example.org.
Filing complaints on SCORES – Easy & Quick a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES I. Name, PAN, Address, Mobile Number, E-mail ID c. Benefits: I. Effective communication II. Speedy redressal of the grievances
Trading and investments in Securities are subject to market risk, there is no assurance or guarantee of returns. Please read the PMS Disclosure Document, Risk Disclosure Document and Dos and Don’ts prescribed by the Exchanges and Mutual Fund Offer Documents carefully before investing
Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No need to worry about the refund either, as the money remains in the investor’s account. Prevent Unauthorized Transactions in your demat and broking account −> Update your mobile numbers/email IDs with your stock brokers and depository participants. Receive information of your transactions directly from Exchange & NSDL on your mobile/email at the end of the day..... Issued in the interest of Investors. (Ref Circular No : NSE/INSP/27346, BSE/ 20140822-30, NSDL 2014/94/97 & 2015 / 104). KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.