Ravi Gopalakrishnan, Head (Equities) at Canara Robeco Mutual Fund, has put in his papers. At Canara Robeco Mutual Fund, Gopalkrishnan led the fund management and equity research team for the last five and half years. Phone calls to Gopalkrishnan remained unanswered while an e-mail sent to Canara Robeco Mutual Fund did not get any response. It is not known as to where Gopalkrishnan is headed, but industry sources believe Gopalkrishnan is likely to join another firm in the asset management or private equity space. Prior to Canara Robeco, Gopalkrishnan worked with Pramerica Asset Management and Principal Asset Management. At Canara Robeco Gopalkrishnan managed Canara Robeco Emerging Equities Fund, Canara Robeco Force Fund, Canara Robeco Large Cap Plus Fund and the equity component of Canara Robeco Balanced Fund. Canara Robeco Emerging Equities, the largest equity fund in the stable with assets of Rs 3,559 crore, has been of the best performing equity funds in the small cap space with a … [Read more...] about Ravi Gopalakrishnan, head of equities at Canara Robeco Mutual Fund, steps down
Who wants to watch Real Madrid versus Auckland City? Previous attempts to initiate new global tournaments have always ended with an overwhelming sense of bathos and disappointment. Just what the beautiful game needs: more pointless, money-spinning football tournaments. There have been so many over the years that it is impossible to recount them all. According to reports, private equity giant CVC is in talks to back at least two new "global" football tournaments: a revamped Club World Cup, a tournament contested by the winners of FIFA's continental cup competitions that no real football fan pays any attention to; and an entirely new club league contest. Vast sums of money continue to pour into... … [Read more...] about CVC’s proposals for new world football tournaments should be shown a red card
Does India really need a New Education Policy? Is our educational reform held back by the datedness of the 1986/1992 education policy which was written before the internet and mobile phones? On this question, I tend to agree with what the current Prime Minister said back in 2013 – “India needs Action, not Acts.” So I admittedly approach the draft National Education Policy 2019 with some scepticism.Further, in my opinion, a good policy should not be too long, should take stands on important issues, prioritize action items, readily provide evidences for the tenets it advances and draw extensively on the experience of people who have worked in the sector nationally and internationally. It should focus on the objectives that more of us can agree on, than on philosophies on which there will be more divergence. These points are important because in India we tend to write policies and Plan Documents in education that say the right … [Read more...] about Does India really need a New Education Policy to achieve educational equity?
The ailing travel group Thomas Cook was close to abandoning hope of a private sector rescue deal on Friday evening as a City blame game engulfed the UK's oldest travel agent.Sky News has learnt that a series of possible scenarios that were on the table in recent days have been ditched after it became clear that the company could become insolvent within hours.Sources said that Thomas Cook, its lenders and advisers had been working on a plan earlier on Friday to devise a way of keeping its airlines in the UK, Germany and northern Europe out of administration while letting its British tour operating arm fail.They said that plan had been discounted as being too complex.A separate proposal which would have involved CQS Management, the hedge fund run by the London Stock Exchange Group's former chief executive, Xavier Rolet, providing a big chunk of the £200m additional funding demanded by Thomas Cook's lenders, had also been aborted. Advertisement Insiders added that in … [Read more...] about Thomas Cook gives up hope of private rescue amid City blame game
Private lender IndusInd Bank on Wednesday posted lower-than-expected financial results for the quarter ended March 31 on nearly five-time spike in provision and contingencies on a yearly basis. The lender posted 62.21 per cent dip in profit at Rs 360.10 crore. Analysts in an ET NOW projected a profit of Rs 765 crore during the quarter under review. Shares of the lender were trading 0.69 per cent down at Rs 1,437.55 after the announcement of quarterly numbers. Here are the other key takeaways from IndusInd Bank’s fourth quarter earnings: Exposure to IL&FS: The lender classified Rs 3,004 crore worth of exposure to IL&FS group as non-performing assets (NPA). This includes Rs 2,000 crore to holding company and Rs 1,004 crore to group companies and SPVs. As much as 70 per cent provisions held against holding company exposure and 25 per cent were made against operating companies and SPVs. Net interest income (NII): Net interest income of the bank increased 11.19 per … [Read more...] about IndusInd Bank Q4 profit takes a hit from IL&FS provisioning: key takeaways