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Apr 21: New research* from Carne Group (Carne), Europe’s largest third-party management company (ManCo), reveals that both wealth managers and private markets fund managers expect assets under management (AUM) held in semi-liquid vehicles to exceed $3 trillion by 2030.  The semi-liquid market has already demonstrated explosive momentum, with AUM nearly tripling between 2020 and 2024 to approximately $349 billion**.

 Nearly eight out of 10 (78%) private market fund managers surveyed expect the sector to surpass $3 trillion by 2030. Wealth managers are equally bullish: 54% expect AUM to reach between $3 trillion and $3.5 trillion, while 18% believe the figure will climb even higher.

 Semi-liquid funds operate as open-ended investment vehicles, providing sophisticated and mass-affluent retail investors with access to typically illiquid assets like private equity, with periodic redemption windows.

 Wealth managers and IFAs increase their focus on the semi-liquid wrapper

Carne’s research reveals 72% of wealth managers surveyed already use semi-liquid funds for their clients. The remaining 28% are preparing to follow suit almost immediately – 75% of those not currently offering these funds expect to start within the next 12 months, and the remaining 25% within the next two years.

 The speed of adoption is reflected in the anticipated weightings within client portfolios. Nearly a third (32%) of wealth managers surveyed expect to have 5% of their clients’ total investible assets in semi-liquid funds within three to four years. This conviction strengthens over a slightly longer horizon, with 66% expecting to hit that 5% allocation within four to five years.

 Commenting on the growing focus wealth managers are placing on semi-liquid funds, Des Fullam

Chief Regulatory and Client Solutions Officer, Carne Group, said: “The democratisation of private markets must be met with a rigorous commitment to retail investor education. For this ‘retailisation’ trend to be sustainable, investors must fully grasp the mechanics of periodic redemptions and the long-term nature of the underlying assets. Empowering wealth managers with the right educational tools is as critical as the digital infrastructure itself in ensuring that mass-affluent investors can build truly diversified, resilient portfolios.”

 The manager pipeline: A Massive Supply Shift

While the demand from wealth managers is clear, the supply side is also moving quickly. Currently, only 2% of the private market fund managers surveyed have launched a semi-liquid fund. However, the survey reveals a massive potential pipeline of new entrants:

• 19% of private market fund managers surveyed are considering launching a semi-liquid fund within the next 12 months
• 42% plan to launch within 12 to 18 months
• 29% are targeting a launch within 18 to 24 months

In total, over 90% of the managers surveyed intend to have a semi-liquid offering in market within the next two years, signalling a fierce competitive landscape as firms vie for retail market share.

 Des Fullam added: “We are seeing a historic pivot in how private capital is raised and deployed. Wealth managers are no longer viewing private markets as an optional ‘extra’ but as a core component of a modern, diversified portfolio. For fund managers, this represents a golden opportunity to tap into a massive, relatively untapped pool of retail capital.

 “However, the operational complexity of managing semi-liquid vehicles – balancing daily or monthly subscriptions with illiquid underlying assets – requires a level of digital sophistication and governance that many firms are only now beginning to implement.

 “As the industry moves toward the potential 2030 $3 trillion milestone, the distinction between “institutional” and “retail” investment strategies is blurring. The next decade of growth in private markets will not be driven solely by pension funds and other institutional investors, but also by the democratisation of access via the semi-liquid wrapper.”

 Regulatory tailwinds: The ELTIF and LTAF Boom

The expansion of the market is being underpinned by significant regulatory progress in Europe and the UK. The European Long-Term Investment Fund (ELTIF) 2.0 and the UK’s Long-Term Asset Fund (LTAF) have become the primary vehicles for this “retailisation” wave.

 Private market managers are overwhelmingly optimistic about these structures:

• LTAFs: 84% of managers surveyed expect flows into LTAFs to increase over the next 12 months, with 44% predicting a “dramatic” increase
• ELTIFs: 77% expect flows into ELTIFs to rise over the same period, with 34% anticipating dramatic growth

New Delhi, Apr 21 (BNP): Fitch Ratings has said that higher foreign ownership in Indian financial institutions can be credit-positive, as it may bring long-term capital support and help improve governance standards in certain cases.

However, the global rating agency cautioned that foreign investment alone is not a reliable indicator of stronger credit fundamentals. It noted that the quality of investment matters more than ownership levels when assessing financial stability.

Fitch said transactions that lead to stronger internal controls, better risk management practices, and improved leadership accountability are more meaningful from a credit perspective than investments driven purely by financial returns.

The agency also observed that rising foreign investor interest reflects growing confidence in India’s long-term economic growth prospects, as well as the strength of financial sector regulation and supervisory frameworks.

Overall, Fitch said foreign participation can support the sector, but its credit impact ultimately depends on how effectively it contributes to institutional resilience and governance improvements.

  Entrepreneurs and industry experts during the RAKEZ community event at Compass Coworking Centre.

 

 

Mumbai, Apr 21: ASICS, the global Japanese sportswear brand, elevates its retail presence in Mumbai with the launch of its revamped Linking Road store. Located in one of Mumbai’s most prominent high-street retail destinations, the space brings a more refined and contemporary design language aligned with ASICS’ global standards and inspired by its philosophy of ‘Sound Mind, Sound Body’

The store defines the next generation of ASICS retail spaces, focusing on the brand’s commitment to innovation, design, and performance. Creating an immersive customer-centric retail experience, it features ASICS’ proprietary Foot ID technology, enabling customers to better understand their foot profile and make more informed footwear choices. It is designed to offer a seamless and intuitive shopping journey, with dedicated zones across Performance Running, SportStyle, Core Performance, and Apparel, enabling easy navigation and product discovery.

As part of its India expansion strategy, the brand continues to focus on premiumisation and deeper customer engagement.

Speaking on the occasion, Mr Rajat Khurana, Managing Director, ASICS India and South Asia, said, “India continues to be a key growth market for ASICS, and Mumbai remains an important region for us. With the enhancement of our Linking Road store, we are further strengthening our commitment to delivering elevated and meaningful consumer experiences. Our focus is on creating retail spaces as experience centres that showcase our product portfolio and enable consumers to make more informed choices through innovation-led solutions. As we continue to expand our presence, we remain committed to bringing the best of ASICS to consumers across the country.”

ASICS currently operates over 137 stores across India and continues to expand its retail footprint, with a strong focus on key urban centres. The enhanced Linking Road store reflects the brand’s continued investment in elevating retail experiences and strengthening its connection with consumers in the country.

 

London, Apr 21: Getting funding for study abroad shouldn’t feel like waiting in a visa line. Yet for many students, especially those from remote areas like Tier 2 and Tier 3 cities, the process can be just as slow, unclear, and uncertain. Multiple forms. Repeated document checks. Rejections without clear direction. It adds friction at the exact moment when students need momentum.

International education loans have opened doors for thousands of students. Yet very few conversations focus on how difficult the application journey itself can be. For a student outside a major city, even understanding the next step can take time. Completing an application is not just about meeting eligibility requirements. It is about access, clarity, and speed.

Prodigy Finance is addressing this gap with the launch of a new upgrade to its application experience built to make things faster and easier to access. As Sonal Kapoor, Global Chief Business Officer at Prodigy Finance, explains, “The journey to study abroad is already complex, from securing admission to navigating visa processes. At the very least, we can ensure that applying for funding does not feel daunting. With our new application experience, we are focused on giving students a clearer, faster path forward.”

The core offering remains unchanged. Students can still apply with no co-signer, no collateral, with Prodigy‘s core offering based on future earning potential rather than past credit history. What changes is how quickly and smoothly students can move from application to decision.

Students can now start their application with ease, straight from their smartphone. In just a few minutes, they can get going and move a step closer to their dream university. The experience is designed for speed and simplicity, without compromising on the rigour required for lending.

The upgrade is specially designed to guide students clearly at every step, so they always know what comes next. That means less time waiting and more time moving forward. For students in remote locations, it brings fewer delays, less uncertainty, and a clearer path to funding.

Their new application process is built with that intent. It keeps the rigour required for lending in place, while removing unnecessary complexity from the user experience. Students still follow essential steps and protocols. What changes is how easily they can complete them.

The result is a more responsive system. One that works for students in Tier 2 and Tier 3 cities as effectively as it does for those in major hubs. One that reflects how today’s applicants plan, decide, and act.

Because when a student is ready to take the next step, the process should be ready too.

New Delhi, Apr 21 (BNP): Precious metal prices edged lower in futures trade on Tuesday, with both gold and silver witnessing selling pressure amid weak global cues and profit booking by traders.

 Gold futures declined to ₹1,53,940 per 10 grams, reflecting a soft trend in international markets and reduced investor demand at higher levels.

Silver futures also slipped, falling by ₹946 to ₹2,51,599 per kilogram, as participants offloaded positions following recent gains.

Market analysts said the decline was largely driven by profit booking and cautious sentiment in global bullion markets, as investors assessed interest rate expectations and broader economic signals.

Overall, precious metals remained under pressure in the near term, tracking volatility in global financial markets.