AXA Financial News

Karnataka Bank’s board on Friday decided to raise about Rs 1,500 crore in fresh capital in one or more tranches through preferential issue / rights issue/ QIP or any other permissible mode. The board decision, however, is subject to shareholder approval. The board approved the issuance of up to 3,34,00,132 equity shares of face value of Rs 10 each to HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Quant Mutual Fund, Bharti AXA Life Insurance Company, and Bajaj Allianz General Insurance Company at a price of Rs 239.52 per equity share (including premium of ₹ 229.52/- per share), amounting to about Rs 800 crore on a preferential basis. The proposed issue will help the bank strengthen its financial foundation for future growth.

An influential group of institutional investors has called on governments to remove policy barriers to help unleash an estimated $275 trillion in new clean-energy investments over the next three decades.

After a high amount of dollar inflows into Indian equities since March, foreign portfolio investors slowed down their purchases in August. However, the trend is unlikely to reverse anytime soon, says Rahul Bhuskute, chief investment officer, Bharti AXA Life Insurance. India’s resilient economy, its strong investments driven growth, and robust corporate profitability has attracted much of the fund allocations made by Emerging Market funds, he said. “While the pace of incremental investments by FIIs has slowed down, we definitely do not see a reversal of flows any time soon, with investors confident about the long-term potential of the Indian markets,” Bhuskute said in an interview with ETMarkets. Edited excerpts:Inflation and rate hike concerns are making a comeback both on the domestic and global fronts. Is this likely to dampen the Indian market momentum in the near term?The equity market has been willing to look through near term inflation concerns and consider them temporary, while the overall growth conditions remain buoyant and corporate earnings are robust.

Validus Financial Associates, which oversaw approximately $800 million in assets at Lincoln Financial Group, has found a new home at LPL Financial, the firm announced Wednesday.

Insurance Regulatory and Development Authority of India (IRDAI) has approved changes to withdrawn life insurance policies that will benefit existing customers. The IRDAI's circular is a big step towards protecting the interests of existing policyholders. According to the Irdai circular dated September 1, 2023, “ IRDAI has introduced measures allowing more choices and benefits for policyholders with withdrawn life insurance products. Effective immediately, this applies to products which are no longer available for sale but still have existing policies serviced by insurers”. The primary goal of this circular is to give existing policyholders more flexibility while protecting their interests.The key provisions include:

LPL Financial Holdings Inc. and Prudential Financial Inc. announced Thursday morning that Prudential will move the retail brokerage and investment advisory assets of 2,600 financial advisors from Prudential Advisors’ current custodian, Fidelity’s National Financial Services, to LPL Financial.

Canada’s largest pension fund has joined a project to produce carbon credits by planting more than 100 native tree species on degraded land in Brazil’s Amazon region.

Food technology company ENOUGH, which has partnerships with Unilever and Marks & Spencer, has raised 40 million euros ($43.5 million), attracting investment despite signs of a slowdown in the alternative meat and protein sector. ENOUGH, which ferments fungi to produce protein for plant-based chicken, mince and dairy products, said the funding round was led by venture capital firm World Fund and CPT Capital, which was an early investor in Beyond Meat and has a stake in Upside Foods.

₹1,550, representing a 15 per cent increase over the stock's current market price hovering between ₹1,390- ₹1,400. The domestic brokerage firm said in its report that the insurer's expense ratio has improved to 29.7 per cent during the April-June quarter, ahead of analysts' estimates. Going ahead, the growth in the motor segment is likely to be back-ended, with the company waiting for the rationalization of pricing in the own damage (OD) segment.

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leadership within its Corporate Clients area. Daniel Hunziker, who currently serves as the Head of Institutional Clients and is a member of the Executive Board, will now also take over the leadership of the Corporate Clients business, effective immediately, in addition to his current role. Also read: Insurer Swiss Re nominates new chairman after Sergio Ermotti resigns to lead UBS The appointment of Daniel Hunziker comes as Andreas Gerber, the current Head of Corporate Banking and a member of the Executive Board at Credit Suisse (Switzerland) Ltd., would be departing from the company.

leadership role at UBS. The reshuffling of positions is a result of the ongoing aftermath of the Swiss authorities' intervention to rescue Credit Suisse through a shotgun merger with UBS, leading to new management taking charge. Jacques de Vaucleroy, a Belgian executive who previously held management positions at French insurer AXA and Dutch bank ING, has been serving as the acting chairman since Ermotti stepped down in April.

It’s the remote-working technology that’s getting Fidelity, Legal & General and AXA Investment Managers excited: the metaverse.

Asset managers have made good on promises to dump Russian assets from their ESG funds, but a year on from the Ukraine invasion some still have money tied up in the region.

The metaverse has been tipped to revolutionise the way people use the internet to work, socialise and learn.

LONDON — New British Prime Minister Liz Truss faces a confluence of economic challenges, but will need to balance her own ideals with the immediate needs of the country.

AXA Investment Managers, the €823bn asset management unit of the French insurance group, has made its first foray into Europe’s exchange traded funds market, and is betting an active approach will help it stand out from the competition.

AXA Investment Managers, the €864bn fund management unit of the French insurance group, plans to establish a new business unit to take advantage of the current boom in private markets.

Axa Investment Managers, the €864bn fund management unit of the French insurance group, plans to establish a new business unit to take advantage of the current boom in private markets.

Law firm Linklaters has set out a global menopause policy to provide support for employees going through it, raise awareness and boost retention among women.

Law firm Linklaters has set out a global menopause policy to provide support for employees going through it, raise awareness and boost retention among women.