Quesiton : Which one of the following statement is incorrect regarding PAG & Edelweiss Partnership ?
(a) PAG is one of the world’s largest Asia-focused investment groups
(b) Edelweiss Group is India’s leading diversified financial services conglomerate
(c) Both announced PAG’s strategic investment of approximately USD 300 million for a 31% stake in Edelweiss Wealth Management
(d) Both announced PAG’s strategic investment of approximately USD 300 million for a 51% stake in Edelweiss Wealth Management
Answer (c)
Related facts
- PAG is one of the world’s largest Asia-focused investment groups.
- Edelweiss Group is India’s leading diversified financial services conglomerate.
- Both announced PAG’s strategic investment of approximately USD 300 million for a 51% stake in Edelweiss Wealth Management.
Indian financial services : Some key facts
- India has a diversified financial sector undergoing rapid expansion, both in terms of strong growth of existing financial services firms and new entities entering the market.
Market Size — Mutual Fund industry’s AUM grew from Rs 10.96 trillion (US$ 156.82 billion) in October 2014 to Rs 23.93 trillion (US$ 339.55 billion) in April 2020.
Inflow in India’s mutual fund schemes via the Systematic Investment Plan (SIP) route reached Rs 82,453 crore (US$ 11.70 billion) in 2019.
Equity mutual funds registered a net inflow of Rs 8.04 trillion (US$ 114.06 billion) by end of December 2019.
India is expected to be the fourth largest private wealth market globally by 2028.
By – Pankaj Pandey
Link:
https://cdn1.edelweissfin.com/wp-content/uploads/2020/08/Edelweiss-PAG-Release-final-India.pdf