Mutual Funds, Fixed Deposit, Shares, Bonds and more: Here's what dominates portfolio of politicians
Like ordinary citizens, politicians also invest their money in the market. As per the election rules, politicians have to declare their assets in an affidavit before filing nomination papers for contesting elections in India.
Like ordinary citizens, politicians also invest their money in the market. As per the election rules, politicians have to declare their assets in an affidavit before filing nomination papers for contesting elections in India. This year, interesting details of politicians' portfolio have been reported. According to a report by news agency PTI, fixed deposits and tax-free bonds appear to be the most favoured financial investments for the political leaders contesting in Lok Sabha elections 2019. The portfolio of some popular politicians is also adorned by mutual funds and stocks. Interestingly, some politicians continue to possess shares of now-defunct firms like Kingfisher Airlines. Shares of Kingfisher has been delisted from the stock exchanges for long.
Several politicians possess shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) as well as stocks and mutual fund units of the companies from younger brother Anil Ambani-led Reliance Group.
Here's a look at the portfolio of some of the popular leaders, including PM Narendra Modi and Rahul Gandhi:
Prime Minister Narendra Modi has no stock market or mutual fund exposure at all. His financial savings are limited to deposits in banks, tax-free bonds, insurance policies and instruments like National Savings Certificate.
BJP President Amit Shah has a number of listed and unlisted shares in his name and in the name of his wife. The value of listed shares in his name totals over Rs 17.5 crore. They include companies from Aditya Birla Group, Bajaj, L&T, Tata and both Reliance groups, as also several PSUs.
Congress president Rahul Gandhi has equity holding in Young Indian. He has also made investments in several mutual funds.
Rahul Gandhi's mother and senior party leader, Sonia Gandhi, has invested in equity shares of Young Indian and Maruti Technical Services Pvt Ltd. She also holds mutual fund units of HDFC, Kotak, Motilal Oswal and Reliance MF.
NCP leader Supriya Sule has unlisted shares worth over Rs 1 crore and listed shares worth over Rs 6 crore. She has also invested in some mutual funds. The listed shares in Sule's name include those of Adani Group firms, the two Reliance groups, several Tata firms and even Kingfisher Airlines. She also holds shares of some companies of the erstwhile UB Group, including United Spirits. This company was sold by Vijay Mallya to Diageo Plc.
BJP candidate from Nagpur, Nitin Gadkari, has disclosed had he has got equity shares of Purti Power and Sugar Ltd. He has also made some other investments.
The spouse of BJP candidate from Mumbai North Central, Poonam Mahajan, has made listed equity investments in Kingfisher Airlines, as also in Reliance Industries, TCS, Vodafone Idea Cellular and Reliance Power.
Congress candidate from Mumbai North Central, Priya Dutt, has invested in several mutual fund and portfolio schemes totalling about Rs 14.92 crore. Her husband has listed shares Reliance Industries, Reliance Infra and Reliance Power etc.
Milind Murli Deora
Milind Murli Deora is a Congress candidate from Mumbai South. He has invested in multiple bonds, structured market products, PMS account, mutual funds and FMPs (fixed maturity plans).
Congress candidate from Mumbai North, Urmila Matondkar, has an investment worth Rs 28.28 crore in shares, bonds and mutual funds. She has made PMS (portfolio management service) investments worth about Rs 6 crore. The actor-turned-politician has not disclosed the individual stocks/units in which she has invested.
BJP candidate from Rampur in Uttar Pradesh, Jaya Prada, has made investments in some listed companies such as Energy Development Company Ltd, Coal India, HDFC Bank, ITC, MCX and Reliance Industries. Jaya Prada's political mentor Amar Singh is a promoter of Energy Development Company Ltd.
Congress candidate from Fatehpur Sikri, Raj Babbar, has disclosed investments in IL&FS Transportation Networks Ltd.