Every investor needs to have a wealth management and risk mitigation strategy in place, says Feroze Azeez, Deputy CEO of AnandRathi Private Wealth Management.
Talking about various elements of wealth management strategy, Azeez said: “We need to have clarity on essentially three things. First, you have to get asset class views. That helps you devise a strategy. Second is product choice; 90 percent of products are not required. And third is the risk mitigation strategy.”
Speaking about managing risks, he said, “There are several types of risks, but most important being price risk, credit risk, liquidity risk and longevity risk. Market risk has several measures. It can be measured using standard deviation.”