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Max Life Invests Rs. 175 cr in Pune Commercial Building

Sep 27, 2018 | Emerging Trends Advisors, India

Max Life Insurance recently finished one of the chief transactions in the real estate sector by an Indian life insurance corporation. The private life insurer has acquired a pre-rent marketable building spread over 1.79 lakh square feet in Pune’s Magarpatta city for Rs. 175 crore.

This planned investment is in line with the company’s long-term investment approach to spread the in general risk in the assortment by investing in multiple asset classes, including fixed income, equities, real-estate and alternative assets, to optimize returns for its policyholders. Talking about the transaction, Executive Vice-Chairman and Managing Director, Rajesh Sud, of Max Life Insurance, said: “The recent real estate transaction is a long-term investment by Max Life and will add to the returns that we offer to our customers on their policies.”

Looking back at few years back, Max Life’s Asset Under Management (AUM) has seen fast growth. From a level of about Rs. 25,000 crore in financial year 14, it has grown to over Rs. 52,000 crore in financial year 18, and is anticipated to cross the 1-lakh crore mark over the next 4 years, he said.

Indicating on Max Life’s investment plans, Mihir Vora, Director and Chief Investment Officer, Max Life Insurance, said: “Max Life is sure of its investment plan, which is based on a deep sympathetic of the markets and economic conditions, locally & globally. We are positive on both equities and fixed income savings over the long-term, given the growth that India is likely to attain in the next decade. We continue to invest in line with our viewpoint of buying growth at a reasonable price.”

Given the ongoing alteration in business environment lead by the reforms undertaken by the government, Indian real estate is onlooker a healthy rise in investment inflow as both foreign and domestic institutional investors are thrust in more funds into the sector. Large global institutional investors, including Brookfield Asset Management, Blackstone Group, GICNSE -0.59 %, Canada Pension Plan Investment Board (CPPIB), Qatar Investment Authority and Goldman Sachs, have been investing insistently in Indian real estate possessions over the last years.

In addition to this, more funds are eyeing investment and union opportunities in the backdrop of recent policy reforms. While these entities had earlier shown interest in investing in commercial real estate, they are increasing their investment range in the backdrop of the opening up of a boulevard for monetization through Real Estate Investment Trusts (REITs).

Article Source: economictimes.indiatimes.com

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