Category Management

Investors seeking international exposure often turn to American Depositary Receipts (ADRs) as a convenient way to invest in foreign companies. ADR dividends, the payments made to shareholders of these receipts, play a crucial role in the overall return on investment.

Understanding the nuances of ADR dividends is essential for investors aiming to maximize their benefits while navigating potential pitfalls.

ADR dividends are a unique aspect of investing in foreign companies through American Depositary Receipts. These dividends are typically declared in the foreign company’s local currency and then converted into U.S. dollars before being distributed to ADR holders. This conversion process can introduce an element of currency risk, as fluctuations in exchange rates may impact the final dividend amount received by investors.

The frequency and amount of ADR dividends can vary significantly depending on the practices of the issuing foreign company. Some companies may pay dividends quarterly, while others might do so semi-annually or annually. The dividend policy of the foreign company, including its payout ratio and historical dividend growth, can provide valuable insights into the potential income stream for ADR investors.

Another important feature of ADR dividends is the withholding tax imposed by the foreign country. This tax is deducted from the dividend payment before it is converted into U.S. dollars and distributed to ADR holders. The rate of withholding tax can vary widely between countries, and investors should be aware of these rates as they can affect the net dividend income. Some countries have tax treaties with the United States that may reduce the withholding tax rate, providing a more favorable outcome for investors.

Navigating the tax landscape for ADR holders can be complex, given the interplay between U.S. tax regulations and those of the foreign country where the underlying company is based. One of the primary considerations is the foreign withholding tax, which is deducted at the source before dividends are converted to U.S. dollars. This tax can significantly reduce the net income received by investors, making it important to understand the specific rates applicable to each country. For instance, countries like the United Kingdom and Canada have tax treaties with the United States that can lower the withholding tax rate, potentially enhancing the net dividend yield for ADR holders.

Beyond foreign withholding taxes, ADR holders must also consider their U.S. tax obligations. Dividends received from ADRs are generally subject to U.S. federal income tax, and the tax treatment can vary depending on whether the dividends are classified as qualified or non-qualified. Qualified dividends, which meet specific criteria set by the IRS, are taxed at the lower long-term capital gains rate, whereas non-qualified dividends are taxed at the higher ordinary income tax rate. This distinction can have a substantial impact on the after-tax return of an investment in ADRs.

To mitigate the impact of foreign withholding taxes, U.S. investors may be eligible for a foreign tax credit. This credit allows investors to offset the amount of foreign tax paid against their U.S. tax liability, thereby reducing double taxation. However, the process of claiming this credit can be intricate, requiring detailed documentation and adherence to IRS guidelines. Investors often find it beneficial to consult with a tax advisor to navigate these complexities and optimize their tax position.

When investing in ADRs, one of the most significant factors to consider is the impact of currency exchange rates. Since ADR dividends are initially declared in the foreign company’s local currency and then converted into U.S. dollars, fluctuations in exchange rates can have a profound effect on the final dividend amount received by investors. For instance, if the foreign currency strengthens against the U.SNew Delhi Stock Exchange. dollar, the converted dividend amount will be higher, benefiting the investor. Conversely, if the foreign currency weakens, the dividend amount in U.S. dollars will be lower, potentially diminishing the expected returns.

The timing of currency conversion also plays a crucial roleSurat Wealth Management. Exchange rates can be highly volatile, influenced by a myriad of factors including geopolitical events, economic data releases, and central bank policies. Investors need to be aware that the exchange rate at the time of dividend declaration may differ from the rate at the time of conversion and distribution. This discrepancy can introduce an additional layer of uncertainty and risk. Some ADR programs may offer currency hedging options to mitigate this risk, but these come with their own costs and complexities.

Moreover, the choice of currency conversion method can impact the final dividend amount. Banks and financial institutions often use different rates for currency conversion, which may include a spread or fee. This means that the rate applied to convert the foreign currency into U.S. dollars might not be the most favorable one available in the market. Investors should be mindful of these potential costs and consider them when evaluating the overall return on their ADR investments.

The performance of ADRs is intricately linked to the economic and political landscape of the foreign markets in which the underlying companies operate. Economic indicators such as GDP growth, inflation rates, and employment figures can significantly influence investor sentiment and, consequently, the stock prices of these companies. For instance, robust economic growth in a foreign country can lead to higher corporate earnings, which may boost the value of ADRs. Conversely, economic downturns can erode investor confidence and negatively impact ADR performance.

Political stability is another crucial factor. Political events, including elections, policy changes, and geopolitical tensions, can create uncertainty and volatility in foreign markets. For example, a sudden change in government policy that affects a specific industry can lead to rapid shifts in stock prices. Investors in ADRs must stay informed about the political climate of the countries where their investments are based, as these factors can have immediate and far-reaching effects on their portfolios.

Market liquidity also plays a significant role. Foreign markets with lower liquidity can experience more pronounced price swings, making ADRs more volatile. This is particularly relevant for investors who may need to buy or sell their ADRs quickly. Lower liquidity can lead to wider bid-ask spreads, increasing transaction costs and potentially reducing overall returns.

Custodian banks play a pivotal role in the administration and distribution of ADR dividends. These financial institutions are responsible for holding the foreign company’s shares and ensuring that dividends are accurately converted and distributed to ADR holders. The custodian bank acts as an intermediary, managing the complexities of cross-border transactions and ensuring compliance with both U.S. and foreign regulations. This role is crucial for maintaining the integrity and reliability of ADR investments.Lucknow Investment

The process begins when the foreign company declares a dividend. The custodian bank receives the dividend in the local currency and then undertakes the task of converting it into U.S. dollars. This involves not only currency conversion but also the deduction of any applicable foreign withholding taxes. The bank must ensure that the correct amount is withheld and that the remaining funds are accurately converted at a fair exchange rate. This meticulous process helps to minimize errors and discrepancies, providing ADR holders with a reliable income stream.

Indore Stock

NEEDHAM, Mass. January 22, 2024 – International Data Corporation (IDC) estimates worldwide shipments of used smartphones, including officially refurbished and used smartphones, will reach 309.4 million units in 2023. The unit growth represents a 9.5% increase over the 282.6 million units shipped in 2022. In addition, IDC projects that used smartphone shipments will reach 431.1 million units in 2027, with a compound annual growth rate (CAGR) of 8.8% from 2022 to 2027.

Supply of used smartphones remains a critical challenge as refresh cycles, high price points, and macroeconomic challenges have all negatively impacted the new smartphone market. However, demand for used smartphones remains healthy and will continue to grow throughout the forecast period, just at a slower rate than previously forecast, thanks to the challenge of acquiring inventory. IDC forecast new smartphone shipments to decline 3.5% in 2023 as demand, inflation, and political unrest continue to impact the global economy. In contrast, the used market demonstrated fierce resilience to overcome these unforeseen circumstances by displaying nearly 10% growth for the year. Refresh rates for new phones in most developed markets have extended past 40 months, which has caused a shortage of available inventory for the secondary market. Trade-in programs continue to fuel the industry but only make up a portion of the total used inventory.

Although the secondary market growth looks impressive compared to the new market, which continues to struggle, growth rates are slowing from our previous forecastAhmedabad Investment. Moreover, the lack of inventory has also impacted each region’s total available market (TAM) for used devices. The total secondary market has been pulled down around 2.7% as longer refresh rates and weak consumer spending continue to dampen both the new and used markets.

“Despite the near 10% growth, the secondary market is showing signs of slowdown due to a genuine lack of inventory,” says Anthony Scarsella, research manager with IDC’s Worldwide Quarterly Mobile Phone Tracker. “With refresh rates extending in most mature markets, acquiring inventory remains the biggest challenge for resellers. Secondary phone retailers are hungry for inventory as the high end of the market continues to be scarce due to customers just holding on to their devicesAgra Investment. This lengthening can also be witnessed in the new market where shipments declined 3.5% for 2023.”

Table Notes:

* Forecast projections (4Q23-4Q27)

Data is subject to change.

According to IDC’s taxonomy, a refurbished smartphone is a device that has been used and disposed of at a collection point by its owner. Once the device has been examined and classified as suitable for refurbishment, it is sent off to a facility for reconditioning and is eventually sold via a secondary market channel. A refurbished smartphone is not a “hand-me-down” or gained due to a person-to-person sale or trade.

The IDC report, Worldwide Used Smartphone Forecast, 2023–2027 (Doc #US51463823), provides an overview and five-year forecast of the worldwide refurbished phone market and its expansion and growth by 2027. This study also provides a look at key players and the impact they will have on vendors, carriers, and consumers.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data, and marketing services company. To learn more about IDC, please visit Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

Varanasi Investment

On April 17, NAFA submitted the following letter to the editor of USA Today regarding the opinion piece published by Ken Fisher. A copy of this letter can also be downloaded from the NAFA Press Room.

Dear MsLucknow Investment. Carroll,

In response to Kenneth Fisher’s opinion piece in USA Today, dated April 14, 2019, I would like to rebut his misleading and factually inaccurate view regarding annuities. In this piece, he mirrors his decade long marketing campaign “Why I Hate Annuities,” coined by the investment firm he founded. Mr. Fisher clearly does not like the annuity concept, yet his own firm gets paid out like an annuity, steadily receiving his current clients’ fees regardless of his performance in managing his clients’ assets. Mr. Fisher’s organization requires a $500,000 minimum to invest, so his clients are paying a minimum of $5,000 per year in feesLucknow Wealth Management. As clients de-accumulate during their retirement years, is Mr. Fisher’s firm going to drop them or provide less service when they fall below that $500,000 threshold, at a time when they need individualized financial advice the most?Since The Roman Empire

Annuities are insurance products that have been around since the Roman Empire utilized to pay Roman soldiers an “annua” or annual stipend for life for their service. Guaranteed lifetime income is important, as many Americans do not have a pension plan: survey after survey confirm that a significant worry for retirees is the possibility of outliving their retirement savings. Is MrGuoabong Wealth Management. Fisher’s firm going to guarantee that his clients will have a steady income for life, whether they live to 75 or 105? Is Mr. Fisher’s firm going to provide guaranteed, consistent income to a retiree that retired during a downturn in the market — or just to those fortunate to have been in a sustained bull market?

Like health, auto, homeowners or life insurance, financial advisors and insurance professionals recommend annuities to deal with specific risks like longevity, health care costs, and sequence of return risk as part of a stable retirement income plan, which today may last 25 to 40 years. Annuity sales reached $234 billion in 2018, which was an almost 15% increase over 2017. More importantly, consumers are happy with annuities, as evidenced by de minimus customer complaint data.Surat Investment

Life insurance companies pay out billions of dollars annually in annuities (in 2017 that number was $82 billion!) to individuals and families to help them customize their financial and retirement plans. Far from being “horsepucky,” annuities protect against life’s uncertainties, allowing consumers to manage their financial risks and offering peace of mind to Americans when they need it the most.

Sincerely,

Charles J. DiVencenzo

NAFA President & CEO

NAFA, the National Association for Fixed Annuities, is the premier trade association exclusively dedicated to fixed annuities. Our mission is to promote the awareness and understanding of fixed annuities. We educate annuity salespeople, regulators, legislators, journalists, and industry personnel about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace covering 85% of fixed annuities sold by independent agents, advisors and brokersUdabur Stock. NAFA was founded in 1998. For more information, visit

Jaipur Investment

Is email deadSimla Wealth Management?  Lately, it feels like the marketing world has fallen out of love with email.  McKinsey’s iConsumer survey reported a 20% decline in email usage between 2008-2012, as the medium surrendered ground to social networks, IM, and mobile messaging apps.

However, while marketers expect to shift budgets to other channels (including social and display) in the coming years, email continues to account for a far greater share of acquired customers than social media – nearly 40x that of Facebook FB +0.99% and Twitter combined (see Exhibits below).  Email remains a critical part of the marketer’s toolkit, with 91% of all consumers still reporting daily email use. Email conversion rates to purchase are estimated to be at least 3x as high as social media conversion rates, with average order values estimated to be 17% higher via email than social media, according to eMarketer.

Marketing investments in new channels are certainly necessary, as companies learn to master omni-channel marketing.  But marketers should also remember that email marketing also requires investment, as it continues to evolve.  Marketers need to adapt to a new inbox in order to harness the full power of emailGuoabong Wealth Management.  Here’s how.

Marketers often obsess over every aspect of every message sent, from subject line, to visuals, to copy.  And they should—as long as they don’t forget that the email is only the first click – literally – in the consumer’s decision journey.

The email is part of a series of interactions with the brand. When developing emails, marketers should be just as obsessed with where an email sends the user.  Why invest so much time on an email only to drop the user onto the generic home page?  Customized landing pages—sending the user directly to the item or offer featured in the email—can result in conversion rate uplifts of 25%+.

And don’t forget mobile.  Nearly 45% of all marketing emails today are opened on a mobile device, according to eMarketer. Yet many marketers fail to optimize landing pages for the platform. Google GOOG +0.36% says 61% of users are unlikely to return to a mobile site they had trouble accessing. Worse, 40% visit a competitor’s site insteadAhmedabad Wealth Management!

The best marketing organizations view every email as an opportunity to learn more about their consumer.  They define clear learning objectives for each campaign, capture the data, and share it within the marketing group and throughout the organization.

One multi-channel apparel player recently implemented a monthly review of email campaigns, in which marketers share three “hits” and three “misses.” The reviews are attended by marketers, merchants, and brand teams. Top lessons are broadcast on closed-circuit TV screens throughout the corporate campus.

“We want our team to share every lesson,” explains the head of direct marketing. “If what we’re doing doesn’t work, we should celebrate finding that out.”  Through this continuous learning process, the company is on course to double ecommerce revenues as a percentage of total sales while keeping the number of email campaigns constant.

Standing out has certainly become more difficult; in the US, email volumes will reach a record 838 billion marketing messages in 2013, according to Forrester.  Given this backdrop, it’s no wonder why relevancy should be a priority for every marketer.

The best emails feel personal.  And they are.  Flash sales site Gilt Groupe, for example, sends over 3,000 variations of its daily email, each tailored to past user click-throughs, browsing history, and purchase history. Of course, building true customization and targeting abilities is a transformative process that requires specific capabilities and supporting infrastructure.  Customer information – which often lives in different parts of the organization – must be aggregated to create a single view of each consumer.  A targeting engine must be built to guide the right message to the right person.  And operations need to be ready for the change; creating and sending 3,000 emails per day is very different than sending one mass email blast.Bangalore Stock Exchange

While it may sound like a lot of work, there is evidence that targeting drives real return.  One financial institution increased revenues from target segments by 20% by using lifecycle events to trigger personalized emails to existing customers.  Home goods retailer Williams-Sonoma reported a 10x improvement in response rates from personalized email offerings, based on individuals’ onsite and catalog shopping behavior.

Hyderabad Investment

Gold prices in India on Thursday zoomed as US Federal Reserve Chair Jerome Powell signaled enough hints that the rate cut cycle likely to begin as early as September. 22K gold price today in India surged by Rs 500 to Rs 64,500/10 grams and 100 grams of 22 carat yellow metal prices soared by Rs 5000 to Rs 6,45,000 on August 1, 2024. Meanwhile, 24k gold price today in India zoomed by Rs 540 to Rs 70,360/10 grams and 100 grams of 24 carat precious metal prices surged by Rs 5400 to Rs 7,03,600 on Thursday.

On the other hand, 18k gold prices today in India rose by Rs 410 to Rs 52,780/10 grams and 100 grams of 18 carat gold price in the country rallied by Rs 4,100 to Rs 5,27,800.

Spot Gold, Spot Silver Prices Today: In the global commodity market, spot gold remained unchanged at $2,448.38 per ounce, as of 0217 GMT, after touching its highest level since July 18 earlier in the session. Prices were just about $35 shy of the record high of $2483.60 scaled on July 17. U.SIndore Investment. gold futures firmed 0.8% to $2,492.50Jaipur Stock. Spot silver fell 0.3% to $28.94 per ounce, platinum lost 0.3% to $973.65 and palladium was flat at $925.16, according to Reuters.

Silver Prices Today In India: Silver prices in India today surged yet again by Rs 600 to settle at Rs 87,100/kg. Meanwhile, 100 grams silver prices today surged by Rs 60 to Rs 8710.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold prices in India today zoomed by Rs 500, surged by Rs 800 on July 31, declined by Rs 200 on July 30, rallied by Rs 150 on July 29, stayed steady on July 28, soared by Rs 250 on July 27, slipped by Rs 1000 on July 26, fell sharply by Rs 950 on July 25, remained stable on July 24, fell steeply by Rs 2750 on July 23, and fell by Rs 100 on July 22.

Amid rising yellow metal prices globally, Dr. Renisha Chainani, Head Research – Augmont – Gold For All said, Gold prices have reached new highs above $2500 in international markets as investors are fleeing to safety as tensions between Iran and Israel escalate. Iranian Supreme Leader Ali Khamenei ordered an immediate strike on Israel after Hamas chief Haniyeh was killed. Bank of Japan also surprised markets by hiking interest rates by 15-basis points yesterday, which triggered a huge sell-off in the USD/JPY pair and supporting gold prices. Furthermore, the Fed ended its meeting yesterday with the fed funds rate remaining between 5.25% and 5.5%. Fed Powell acknowledged that inflation is still somewhat elevated despite the easing and the interest rate path ahead will depend on the way how the economy evolvesJaipur Investment. We are likely to see some profit booking towards $2460 (~Rs 69000) before prices move ahead.”

1kg Silver price India movement in last 10-daysJaipur Investment

Silver price in India today rose by Rs 600, rallied by Rs 2000 on July 31, declined by Rs 500 on July 30, rose by Rs 500 on July 29, remained steady on July 29, July 27, and July 26, witnessed sharp fall of Rs 3000 on July 25, declined by Rs 500 on July 24, fell by Rs 3,500 on July 23, remained steady on July 22, and stayed unchanged on July 21.

According to Reuters, “Gold bulls couldn’t resist the urge to buy more gold after the Fed effectively signalled the beginning of its rate-cut cycle. But gold bugs may want to warrant some caution above $2,500, given gold’s reluctance to hold on to gains around these levels,” City Index senior analyst Matt Simpson said.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On Aug 1, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,430

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on August 1, 2024 is Rs 6,450

Mumbai Stock Exchange

Occasionally, startups will ask me for advice. That’s a shame, because I am a terrible person to ask for advice. The conversation usually goes something like this:

We’d love to get your expert advice on our thing.

I probably don’t use your thing. Even if I tried your thing out and I gave you my so-called Expert advice, how would it matter? Anyway, why are you asking me? Why don’t you ask your community what they think of your thing?

And if you don’t have a community of users and customers around your thing, well, there’s your problem right there. Go fix that.

Like I said, I don’t get asked for advice too often. But for what it’s worth, it is serious advice. And the next question they ask always strikes fear into my heart.

You’re so right! We need a place for online community around our thing. What software should we use?

This is the part where I start playing sad trombone in my head. Because all your software options for online community are, quite frankly, terrible. Stack Exchange? We only do strict, focused Q&A there and you’d have to marshal your proposal through Area 51Ahmedabad Investment. Get Satisfaction, UserVoice, Desk, etcetera? Sorry, customer support isn’t the same as community. Mailing lists? Just awful.

Forum software? Maybe. Let’s see, it’s 2013, has forum software advanced at all in the last ten years?

I’m thinking no.

Forums are the dark matter of the web, the B-movies of the Internet. But they matter. To this day I regularly get excellent search results on forum pages for stuff I’m interested in. Rarely a day goes by that I don’t end up on some forum, somewhere, looking for some obscure bit of information. And more often than not, I find it there.

There’s an amazing depth of information on forums.

A 12 year old girl who finds a forum community of rabid enthusiasts willing to help her rebuild a Fiero from scratch? Check.

The most obsessive breakdown of Lego collectible minifig kits you’ll find anywhere on the Internet? Check.

Some of the most practical information on stunt kiting in the world? Check.

The only place I could find with scarily powerful squirt gun instructions and advice? Check.

The underlying research for a New Yorker article outing a potential serial marathon cheater? Check.

I could go on and on. As much as existing forum software is inexplicably and terrifyingly awful after all these years, it is still the ongoing basis for a huge chunk of deeply interesting information on the Internet. These communities are incredibly passionate about incredibly obscure things. They aren’t afraid to let their freak flag fly, and the world is a better place for it.

At Stack Exchange, one of the tricky things we learned about Q&A is that if your goal is to have an excellent signal to noise ratio, you must suppress discussion. Stack Exchange only supports the absolute minimum amount of discussion necessary to produce great questions and great answers. That’s why answers get constantly re-ordered by votes, that’s why comments have limited formatting and length and only a few display, and so forth. Almost every design decision we made was informed by our desire to push discussion down, to inhibit it in every way we could. Spare us the long-winded diatribe, just answer the damn question already.

After spending four solid years thinking of discussion as the established corrupt empire, and Stack Exchange as the scrappy rebel alliance, I began to wonder – what would it feel like to change sides? What if I became a champion of random, arbitrary discussion, of the very kind that I’d spent four years designing against and constantly lecturing users on the evil of?

I already built an X-Wing; could I build a better Tie Fighter?Nagpur Stock

If you’re wondering what all those sly references to Tie Fighters were about in my previous blog posts and tweets, now you know. All hail the Emperor, and by the way, what’s your favorite programming food?

Today we announce the launch of Discourse, a next-generation, 100% open source discussion platform built for the next decade of the Internet.

The goal of the company we formed, Civilized Discourse Construction Kit, Inc., is exactly that – to raise the standard of civilized discourse on the Internet through seeding it with better discussion software:

100% open source and free to the world, now and forever.Bangalore Wealth Management

Feels great to use. It’s fun.

Designed for hi-resolution tablets and advanced web browsers.

Built in moderation and governance systems that let discussion communities protect themselves from trolls, spammers, and bad actors – even without official moderators.

Our amazingly talented team has been working on Discourse for almost a year now, and although like any open source software it’s never entirely done, we believe it is already a generation ahead of any other forum software we’ve used.

I greatly admire what WordPress did for the web; to say that we want to be the WordPress of forums is not a stretch at all. We’re also serious about this eventually being a viable open-source business, in the mold of WordPress. And we’re not the only people who believe in the mission: I’m proud to announce that we have initial venture capital funding from First Round, Greylock, and SV AngelBangalore Stock Exchange. We’re embarking on a five year mission to improve the fabric of the Internet, and we’re just getting started. Let a million discussions bloom!

So now, when someone says to me …

You’re so right! We need a place for community around our thing. What software should we use?

I can reply without hesitation.

Bangalore Wealth Management

“Because we are a founder-led company, actions by, or unfavorable publicity about, Brian Armstrong, our co-founder and Chief Executive Officer, may adversely impact our brand and reputation,” the filing says. “Such negative publicity also could have an adverse effect on the size and engagement of our customers and could result in decreased revenue, which could have an adverse effect on our business, operating results, and financial condition.”Indore Investment

Armstrong is heavily incentivized to keep the momentum goingJaipur Stock. He was paid a salary of $1 million last year, though his total compensation topped $59 million with all his option awards.Jaipur Investment

In August, Armstrong was granted a multibillion-dollar performance award, giving him the ability to purchase 9.29 million options at $23.46 over 10 years. The awards are all based on the company❼stock trading at a certain price for 60 daysVaranasi Investment. Based on the private market price, roughly three-quarters of the award will vest in short order. The highest tranche vests at $400.Mumbai Investment

Mumbai Stock Exchange

DO NOT include personal/account information in this form. Please contact using the business customer service center phone number to discuss any account questions.

Deposit products offered in the United States by HSBC Bank USA, N.A. Member FDIC.

For clients located outside of the U.S. – Our products and services are not specifically directed at individuals located in the European Union. Our U.S. representatives, as well as our public website, us.hsbc.com, provide products and services governed by U.S. laws and regulations. Our products and services, as well as their specific terms and conditions, are subject to change and may not be available in all territories or to all customers. If you are not located in the U.S., the laws and regulations of your country of residence could affect the offering, negotiation, discussion, provision, and/or use of HSBC U.S. products and services. If you are not a U.SJaipur Stock. resident, please read the specific cross-border product and service disclaimers, which are available on the Cross Border Disclosure page of our public website at Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC. Lending products are offered in the U.S. by HSBC Bank USA, N.A. Investments and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. Whole life, universal life, term life, and other types of insurance are provided by unaffiliated third parties and offered through HSBC Insurance Agency (USA) Inc., a wholly owned subsidiary of HSBC Bank USA, N.A.

* Limitations apply. International calls cover over 190 countries including Western Europe, Canada, Mexico, China and India.

Ŧ Investment, annuities, and variable life insurance products are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. In California, HSI conducts insurance business as HSBC Securities Insurance Services. License #: OE67746. HSI is an affiliate of HSBC Bank USA, N.A. Whole life, universal life, term life, and other types of insurance are offered by HSBC Insurance Agency (USA) Inc., a wholly owned subsidiary of HSBC Bank USA, N.A. Products and services may vary by state and are not available in all states. California license #: OD36843.Jaipur Stock

Investments, Annuity and Insurance Products: Are not a deposit or other obligation of the bank or any of its affiliates; Not FDIC insured or insured by any federal government agency; Not guaranteed by the bank or any of its affiliates; and subject to investment risk, including possible loss of principal invested.

All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor.

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be canceled or are subject to change at any time and cannot be combined with any other offer or discount.

Pune Investment

Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.  Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from the depository on your email id and/or mobile number to create a pledge.   Pay 20% upfront margin of the transaction early to trade in the cash market segment.   Investors may please refer to the Exchange’s Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020, and NSE/INSP/45534 dated August 31, 2020, and other guidelines issued from time to time in this regardJaipur Investment.   Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

Corporate Office: No. 153/2, 3rd Floor, M.R.B.Arcade, Bagalur Main Road, Dwaraka Nagar, Yelahanka, Bengaluru – 560 063, Karnataka.

Registered Office: Old No.56/2 ,New No.58, LIC Nagar, Vinayagar Kovil Street, Erode -8,Tamil Nadu– 638002.

Alice Blue Financial Services (P) Ltd : NSE EQ | NSE FO | NSE CDS-90112 SEBI REG : INZ000156038

Alice Blue Financial Services (P) Ltd : BSE EQ | BSE FO | BSE CD-6670 SEBI REG : INZ000156038

Alice Blue Financial Services (P) Ltd : CDSL DP ID 12085300 DP SEBI REG : IN-DP-364-2018

Alice Blue Financial Services (P) Ltd : MCX-56710 SEBI REG : INZ000156038Jaipur Wealth Management

We hereby declare that we are doing PRO trading

Procedure to file a complaint on SEBI SCORES : Register on SCORES portal and SEBI SCORES 2.0.  Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail IDVaranasi Stock. Benefits: Effective Communication, Speedy redressal of the grievances

Click on the provided link to learn about the process for submitting a complaint on the ODR platform for resolving investor grievances.

Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit.Surat Investment

For queries regarding account opening or activation, email to and for fund updates, email to

Disclaimer : Prevent unauthorized transactions in your account. Update your mobile numbers/email IDs with your stock brokersPune Stock. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day. Issued in the interest of investors. All clients have to update their email id and mobile number with Member : Investor Grievance

KYC is a one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

No need to issue cheques by investors while subscribing to an 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 worries for refund as the money remains in the investor’s account.

Jaipur Investment

These privately pooled investment vehicles, regulated by the Securities and Exchange Board of India (SEBI), have experienced remarkable growth in recent years, reflecting a shift in investor preferences towards more sophisticated and diverse investment options.

AIF investments differ from traditional funds like stocks, debts, and securities. AIFs are privately funded pooled investments that collect money from private investors and offer a variety of fund options such as private equity, venture capital, hedge funds, and angel funds. Unlike mutual funds, AIFs do not fall under SEBI mutual fund regulations. They can be set up as a company, Limited Liability Partnership (LLP), corporate body, or trust. The minimum investment fees for AIFs are generally higher than conventional investments, with the minimum investment amount set at ₹1 crore. This significant entry threshold ensures that these funds cater to high-net-worth individuals and institutional investors looking for advanced investment strategies.

AIFs in India are categorized into three types, each catering to different investment strategies and objectives. Category I AIFs focus on socially desirable sectors such as startups, infrastructure, and social ventures. This category includes Venture Capital Funds, Angel Funds, SME Funds, Social Venture Capital Funds, and Infrastructure Funds. Category II AIFs consist of funds without specific incentives, including private equity and debt funds. This category is significant as it includes Private Equity Funds, Debt Funds, Real Estate Funds, Funds for Distressed Assets, and Funds of Funds. Category II AIFs contribute the largest share to the industry, reflecting their broad appeal and versatility. Category III AIFs involve complex trading strategies with potential leverage, like hedge funds. These funds use diverse trading strategies, investing in listed and unlisted derivatives, and are not required to publish their information regularly. Hedge Funds and PIPE Funds are typical examples in this category.

Over the past decade, AIFs have grown rapidly in popularity, especially following the 2008 financial crisis, as investors sought to diversify their portfolios and reduce over-dependency on a single market or asset. As of 2023, investment commitments in AIFs surged to an impressive ₹9.54 trillion, marking a 13% increase quarter on quarter and a staggering 36% jump year on year. This growth trajectory underscores the increasing appeal of alternative investments among sophisticated investors seeking diversification and potentially higher returns.

From a wealth management perspective, AIFs offer several compelling advantages. AIFs provide exposure to innovative sectors and technologies, allowing investors to diversify beyond traditional asset classes. This diversification can potentially lead to superior long-term returns and offer protection against inflation, enhancing wealth preservation and growth strategies for high-net-worth clients. AIFs are less volatile than stocks, given their diversification away from market ups and downs. The substantial size of funds enables fund managers to tap into a broader investment universe. Most AIFs deliver better returns than regular investments, aimed at achieving long-term capital appreciationAgra Wealth Management. Through the tool of AIFs, investors can be exposed to alternate securities providing higher returns compared to traditional investment instruments.

The outperformance of Indian private markets compared to public market equivalents further strengthens the case for AIFs. An analysis of 217 AIFs in the PE/VC space from fiscal years 2013 to 2022 revealed that Category I and Category II investing outperformed the S&P BSE Sensex TRI by 13.5% as of 2023. This outperformance is not driven by a few outliers but reflects a broader trend in the AIF industry. The growth of AIFs has been supported by favorable government policies and regulatory improvements. Initiatives aimed at enhancing market integration through infrastructure development and digital advancements have fueled the growth of venture capital and expanded market opportunities for private equity in India. Improved regulatory oversight has also increased transparency and investor protection, boosting confidence in the AIF sector.

The overall AUM% breakup across Category I, II, and III AIFs is as follows: Category I AIFs, which include Infrastructure Funds, Social Venture Funds, Venture Capital Funds, and SME Funds, account for 7.21% of the total AUM. Category II AIFs, which include Private Equity Funds and Debt Funds, account for 81.96% of the total AUM. Category III AIFs, which include Hedge Funds that employ diverse or complex trading strategies and leverage, account for 10.84% of the total AUM. The AIF industry in India has witnessed substantial expansion over the past decade, with investment commitments in AIFs surging to an impressive ₹9.54 trillion by 2023. This represents a 13% increase quarter on quarter and a staggering 36% jump year on year. Category II AIFs have been the primary driver of this growth, with commitments reaching ₹7.82 trillion and invested amounts totaling ₹2.48 trillion. Meanwhile, Category III AIFs have crossed the ₹1 trillion mark in commitments for the first time, reflecting growing interest in strategies focused on listed securities.

Looking ahead, the AIF industry is poised for continued growth. The ratio of AIF industry commitments to GDP stood at approximately 3% as of 2023 and is expected to rise to around 6% by 2027. This projection suggests a growing role for AIFs in India’s investment landscape and underscores the importance of wealth managers staying informed about these evolving opportunitiesSimla Wealth Management. For wealth managers, the rise of AIFs represents both an opportunity and a challenge. While these funds offer the potential for enhanced returns and portfolio diversification, they also require a deep understanding of complex investment strategies and regulatory frameworks. As client interest in alternative investment grows, wealth managers must be prepared to provide informed guidance on the risks and rewards associated with AIFs.

In conclusion, Alternative Investment Funds have become an integral part of India’s investment ecosystem, offering sophisticated investors access to diverse and potentially lucrative opportunities. For those seeking more background on AIFs, this article offers a thorough introduction and historical context.

Agra Wealth Management