The BSE board director believes that leaving women, children out of the financial area is something a family cannot afford today. Besides, she argues, men are known to be bad planners, and emphasises that women must learn more about investments
"Women definitely make better investors, because investing, by default, is a game of common sense and patience and women possess this in spades," Ms Deena Mehta, the lone woman member on the board of directors of the Bombay Stock Exchange, said today. Speaking at a workshop hosted by Moneylife Foundation on the occasion of International Women's Day, Ms Mehta said that keeping women and children out of the financial arena is something a family cannot afford today.
Chandita Mukherjee speaking about her organization Comet Media
Ms Mehta dwelt a lot on what families ought to do about their finances. "Simply sticking to fixed deposits will not help, because inflation will eat away at your money. Understanding the market is necessary, and not difficult. If you can take the pains to learn, you will not only make money, you will also contribute to family fortunes," she said.
Almost all families are financially sick, because they don't pay attention to their money, she said. "Women must educate themselves about investing and the market, because if you miss the market, you are missing a lot, and losing a lot of money in the process."
Nikita Ketkar speaking about ‘Masoom’ her organization working for night school children
Several international studies have shown that women are wiser in investing and they manage finances better, whether it is at home or at the workplace. India's top banks have prominent women administrators and heads-names like Naina Lal Kidwai, Chanda Kochhar, Ranjana Kumar, Kalpana Morparia. Still, finance, and in general economics, is viewed as a predominantly masculine field. Ms Mehta pointed out how, historically, stock markets had been an exclusive arena, with no entry for women. Hence, till date, very few women have entered the markets. Mass participation in the markets is only a recent phenomenon.
Busting the 'men-only' myth on finances, Ms Mehta said, "Most men have zero understanding of financial management, and bad planners. That doesn't only apply to the husbands, but the fund managers as well. So question the man of the house as well, because there is a very good chance that he is not doing his work properly, or is clueless about what should be done."
Preeti Telang speaking about 'Swadhaar- FinAccess' and its activities
On the occasion of International Women's Day today, Moneylife Foundation felicitated three women achievers: Ms Preeti Telang, general manager, Swadhaar FinAccess, which helps urban poor women save money and advocates financial literacy among them; Ms Chandita Mukherjee, award-winning short documentary film maker and founder of Comet Media, which develops media to foster education and a scientific spirit; and Ms Nikita Ketkar, founder of Masoom, which supports night schools.
Last year, on this occasion, Moneylife Foundation had felicitated Ms Indrani Malkani, who started the Model School Bus Service and is also involved in some other social projects; Ms Sumaira Abdulali , noted environmentalist and founder of Awaaz Foundation; and Ms Anandini Thakur, noted civic rights activist from Bandra and chairman of H/West Ward Citizens' Forum.
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The Hero Group also said it will raise fund from private equity firms, including Bain Capital and Lathe Investment, estimated to be around Rs4,500 crore to finance its buyout by selling stake in Hero Investments Private Limited
New Delhi: The BM Munjal-led Hero Group today said it will pay Rs3,841.83 crore for Honda's 26% stake in their joint venture Hero Honda, reports PTI.
The group also said it will raise fund from private equity firms, including Bain Capital and Lathe Investment, estimated to be around Rs4,500 crore to finance its buyout by selling stake in Hero Investments Private Limited (HIPL).
"HIPL, an investment company of the Hero Group stated that it is acquiring Honda's entire 26% stake in HHML at Rs739.97 per share," the group said in a statement.
Honda currently holds 51,91,8750 shares in Hero Honda and at the said share prices, the total value of the buyout amounts to Rs3,841.83 crore.
The Hero Honda scrip closed the day at Rs1,518.15 per share on the Bombay Stock Exchange (BSE), down 0.77% from the previous close.
The Hero group further said it has also signed definitive agreements with PE firms BC India Private Investors II, an affiliate of Bain Capital LLC, and Lathe Investment Private Limited, a wholly-owned subsidiary of the Government of Singapore Investment Corporation (Ventures) Pvt Ltd.
HIPL will sell stakes to the PE firms to raise funds for acquiring Honda's stake in Hero Honda, it added.
While the group did not disclose the amount to be raised from the PE firms, HIPL had sought government approval to bring in foreign investment of Rs4,500 crore.
HIPL is one of the main shareholders of the country's largest two-wheeler maker Hero Honda. It holds 17.33% stake in the company as on 31 December 2010. The Foreign Investment Promotion Board (FIPB) had recommended the proposal to the Cabinet Committee for Economic Affairs (CCEA) for approval as it involves foreign investment exceeding Rs1,200 crore.
"Further details will be shared after receiving the necessary approval from CCEA. The funds received as investment made in the holding company by the PE firms will be used to retire a significant portion of the debt that has been raised by HIPL recently for financing the acquisition," the Hero group said.
According to a sector analyst, the share price for the buyout is in line with indications given before and for the PE firms this is a long term investment.
"The Hero Group has long term plans both in the domestic and international markets but will have to face stiff competition from Honda which is becoming aggressive itself in the economy segment and Bajaj is already a tough competitor," the analyst said.
Last year the Hero Group and Honda agreed to part ways from their joint venture after 26 successful years.
There have been discords brewing up between the partners ever since the Japanese firm decided to enter the Indian two-wheeler market through its wholly-owned subsidiary Honda Motorcycle & Scooter India (HMSI).
Moreover, the Hero Group was also unhappy with restrictions over exports as Hero Honda was not allowed to explore overseas markets.
Hero Honda manufactures motorcycles such as Splendor, Passion, Karizma ZMR, Hunk, CBZ Xtreme and scooter Pleasure.
Mirae's new scheme will try to take advantage of rising consumption in India and China. There are too many problems with this idea
How comfortable would you be about putting money in a scheme that will put as much as 35% of your money in unpronounceable Chinese names with unknown corporate governance norms?
Mirae Asset Global Investments (India) today announced the launch of Mirae Asset India-China Consumption Fund, an open-ended, equity-oriented scheme. Although there are many schemes that promise to invest abroad, this scheme, the first-of-its-kind in India, will focus on sectors and companies benefiting from the consumption-led demand that is driving the world's fastest-growing economies, India and China.
The investment theme is attractive on paper. After all, on a per-capita basis, China is still one of the poorest countries on the planet. It doesn't even make the top 100. The Chinese government's investment plans are nothing if not grand. They include a 2 trillion yuan ($250 billion) splurge on railways-including several new subway lines in Shanghai-in the next five years, 25,000 kilometres of expressways by 2010, and an additional 21 nuclear power stations by 2020.
All this may make for great headlines and even be a good case for direct investments case, what has all this got to do with stock picking? Here is one data to chew on. Over the last 10 years, India's Sensex has gone up by 4.29 times and Shanghai is up just by 0.5 times. Nobody can say that China is not booming. So why is its stock market down in the dumps, unable to beat inflation?
There are many excellent equity diversified schemes in India to invest in. The risks of investing through a Korean fund manager into Chinese stocks is something you can do without.
The scheme will use a customised benchmark index that constitutes MSCI India Consumption Index (65%) and MSCI China Consumption Index (35%). The scheme does not guarantee or secure any returns, the investment company said.