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February 23, 2022

India’s Cosmea Financial forays into wealth management business

Indian financial service firm Cosmea Financial Holdings (CFH) has launched its wealth management business, PTI has reported.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Dubbed Torus Private Wealth, the new business will provide financial solutions and strategic advisory services to high-net-worth (HNW) individuals, ultra-high-net-worth (UHNW) individuals, as well as emerging businesses and start-ups.

Torus targets to obtain $1bn assets under management (AUM) in the next three years.

CHF said that Torus secured $20m in assets during the two of months of initial operations.

The business, which has offices in Mumbai and Delhi, plans to launch and distribute its products in the coming months.

The products will be focused on Indian and foreign currency to target the Liberalised Remittance Scheme (LRS) and non-resident pool.

It also plans to expand its presence to additional Indian cities, including Hyderabad, Bangalore, and Kolkata in the next few months.

Torus Private Wealth CEO Sumita Pillai said: “Wealth origination in emerging businesses and startup ecosystems has superseded traditional investment products.

“Startups and venture funding now form an important asset class for holistic wealth management. If one can add strategic value to these businesses, this facilitates in generating additional wealth.”

Torus plans to drive its growth by utilising in-house product manufacturing capabilities and an open architecture platform to create a model that combines deep insight and a domain technology.

The firm will also have a Business Owners Advisory (BOA) segment that will cater to micro, small and medium enterprises (MSME).

Pillai further said: “We are observing a paradigm shift in the wealth management industry with the emergence of the new generation of digital investors. Torus Private Wealth is attempting to re-shape how advice and investment products are being delivered through the use of new technologies.”

The launch of Torus comes on the close heels of CFH’s joint venture (JV) partnership with wealth tech startup Orowealth to launch a digital-first mutual fund business.

The JV, which will be known as Torus Oro Asset Management Company, marks the company’s entry into the mutual fund space.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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