A post graduate in marketing and finance, Abhinav Angirish started his career with an MNC bank as a relationship manager and after a stint there he joined a top private bank as a relationship manager for high networth clients. Within four years, he mobilised over Rs 350 crore from HNIs in various wealth management products. That possibly gave Angirish the courage and enthusiasm to float his own wealth management outfit, Abchlor Investment Advisors P. Ltd.
Mumbai-based Abchlor offers porftfolio management services (Abchlor Classic Equity Fund), mutual funds and equity broking besides the other over-the-counter financial products like bonds, IPOs and the like. In 2004 alone, Abchlor managed to get over Rs 100 crore worth assets. In 2005, Angirish was recognised for acquiring the largest single deal in the industry, with Rs 125 crore of individual funds in a day.
As managing director of Abchlor, Angirish is known for his expertise in the financial sector, real estate advisory, home loans and securitised loans. He is extremely bullish about the prospects of the current calendar year. “As we enter 2018 and say good-bye to 2017, we reflect back upon the year that has gone past and what a year it has turned out to be! 2017 can clearly be termed as the ‘year of revolution'. Revolutionary measures such as GST (goods and services tax), Benami Transactions (Prohibition) Act, the Insolvency and Bankruptcy Code (IBC) and recapitalisation of banks were some of the major initiatives of the year for India. The year 2017 started with the economy grappling with the after effects of demonetisation. This was followed by the implementation of the GST, which is by far the biggest tax reform the country has seen. While there has been some temporary disruption in activity on account of GST, we do believe that supportive global growth, strong consumption demand (including a revival in rural demand) and improving corporate profitability would spur growth in 2018.”
Angirish thinks demonetisation and GST implementation have resulted in two large thematic shifts which are still playing out: (a) A shift from the unorganised to the organised space; (b) A shift in savings from physical to financial assets. Both the thematic shifts are positive for the economy, as now the economy will be transparent and the funds will be put to productive uses rather than being kept idle. Apart from this, even the earnings season has gone as better than expected. It’s not too much to expect a positive 2019, with 10-12 per cent return on the board (Nifty).