Mumbai: Tax efficiency and relatively higher returns compared with traditional fixed-income products are drawing affluent investors to hybrid specialised investment funds (SIFs)-the newly-launched investment category positioned between traditional mutual funds and Alternative investment funds.

Data from ValueMetrics Technologies showed SIFs’ assets under management reached ₹13,814 crore as of May 2026 since their launch in September 2025, with ₹9,990 crore, or 72%, allocated to hybrid strategies.

The average folio size for hybrid strategies stands at ₹33.9 lakh, compared with ₹14.1 lakh for plain vanilla equity, while the overall SIF average is ₹24.3 lakh.

“We are largely seeing evolved mutual fund investors and HNIs, particularly those with prior experience investing in AIFs, participating in our hybrid strategy,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management.

SIFs use strategy-driven approaches, combining debt, equity and derivatives and typically require a minimum investment of around ₹10 lakh. AIFs offer flexible, high-risk strategies for wealthy investors with a minimum investment of ₹1 crore, while mutual funds are designed for retail investors with significantly lower entry requirements.

Returns have also supported interest, with hybrid SIFs delivering about 5.3% over the past three months. Distributors said high-net-worth individuals and family offices are drawn to these strategies for their tax-efficient returns and relatively low volatility.
All available hybrid SIFs qualify for equity taxation, where investors pay 12.5% long-term capital gains tax after one year. In contrast, income from traditional deposits or pure debt funds is taxed at slab rates, typically 30% for wealthy investors, making SIFs more attractive on a post-tax basis.”Investors can expect 8-10% return from conservative hybrid SIFs, with equity taxation and low volatility,” said Sandeep Seth, CEO and Founder, SIF360.com.

Hybrid strategies typically invest across fixed-income instruments, arbitrage opportunities, covered calls, special situations such as open offers and buybacks, and a smaller allocation to long-short or options-based strategies. “As hybrid SIFs build a track record, more money could come in even from categories like income-plus arbitrage FoF for tax efficiency,” said Manuj Jain, Co-Founder, ValueMetrics Technologies. Seth added that some investors may also use these strategies to generate regular income in retirement.

Mutual fund industry officials caution that the category is new, with less than a year’s track record, and involves active use of derivatives.

SEOUL, South Korea — Samsung Electronics has confirmed the existence of the Galaxy S27 Pro through regulatory filings, adding another device to its expanding flagship smartphone series for next year.

The disclosure comes through GSMA database documents that list multiple unannounced models, including the Galaxy S27, S27+, S27 Pro and S27 Ultra. The confirmation provides the clearest indication yet of Samsung’s plans for a four-model S27 lineup in early 2027.

The Galaxy S27 Pro, identified by model number SM-S957B/DS, is expected to bridge the gap between the standard S27 models and the Ultra variant. Industry analysts anticipate it will share many specifications with the Ultra while offering a more compact design.

Design and Display Expectations

Reports suggest the Galaxy S27 Pro will feature a 6.47-inch Dynamic AMOLED 2x display, making it more pocketable than the larger Ultra model. The device is rumored to omit the S Pen stylus, differentiating it from the top-tier variant.

Samsung’s continued investment in AMOLED technology is expected to deliver improved brightness, color accuracy and energy efficiency. The Pro model’s display specifications would position it competitively against rivals in the premium segment.

The more compact form factor could appeal to users seeking flagship features without the bulk of larger devices. This strategy reflects Samsung’s efforts to address diverse consumer preferences within its premium lineup.

Camera and Performance Specifications

The Galaxy S27 Pro is anticipated to feature a sophisticated camera system including a 200-megapixel primary sensor, 50-megapixel ultrawide lens with autofocus and a 50-megapixel telephoto camera offering 3.5x optical zoom. A 12-megapixel front-facing camera would handle selfies and video calls.

Power is expected to come from Qualcomm’s Snapdragon 8 Elite Gen 6 Pro for Galaxy processor, paired with at least 12 gigabytes of RAM and 256 gigabytes of UFS 5.0 storage. A 5,000mAh battery with 45-watt or faster charging would support all-day usage.

These specifications would place the Pro model in direct competition with other premium Android flagships while maintaining Samsung’s emphasis on photography and performance.

Market Strategy and Timing

Samsung’s decision to expand its S-series lineup reflects the growing sophistication of the premium smartphone market. The Pro model would offer consumers a middle ground between standard and Ultra variants.

The company typically unveils its flagship Galaxy S series in January or February. Early 2027 would align with Samsung’s traditional launch cadence for its most important product line.

Competition from Apple’s iPhone 19 series and other Android manufacturers will intensify pressure on Samsung to differentiate its offerings. The expanded lineup provides more options for consumers seeking specific features and price points.

Industry Context

The global smartphone market continues evolving with emphasis on artificial intelligence features, advanced cameras and improved battery life. Samsung’s Galaxy S27 series is expected to incorporate significant AI enhancements across its models.

Foldable devices and other form factors have gained traction, but traditional slab phones remain the dominant category. Samsung’s strategy balances innovation with refinement of its core S-series platform.

Regulatory filings provide early insights into device development but often lack complete specifications. Final details typically emerge closer to launch through leaks and official announcements.

Consumer Implications

The Galaxy S27 Pro could appeal to users wanting flagship features without the highest price point or largest size. Its expected specifications suggest strong performance for photography, gaming and productivity.

Samsung’s software support, including extended OS updates, adds long-term value to its devices. The company’s ecosystem of services and accessories enhances the overall user experience.

Consumers will evaluate the Pro model against competing devices from Google, OnePlus and other manufacturers. Camera capabilities, battery life and software features will be key comparison points.

Future Galaxy S-Series Outlook

Samsung’s expanding S-series lineup reflects the maturation of the premium smartphone market. The Pro variant would join a growing list of specialized models targeting specific consumer segments.

The company’s commitment to innovation in displays, cameras and processors suggests continued leadership in Android flagships. Success of the S27 series could influence future product strategies.

As artificial intelligence becomes more central to smartphone experiences, Samsung’s integration of these technologies will be closely watched. The Galaxy S27 series represents an important step in this evolution.

The confirmation of the Galaxy S27 Pro provides enthusiasts and analysts with additional details to anticipate. As development continues, more information about specifications and features is expected to emerge.

Samsung’s approach to its flagship lineup balances tradition with innovation, maintaining the S-series as a cornerstone of its mobile business. The addition of the Pro model expands options while reinforcing the company’s commitment to premium devices.

California voters will decide in November whether to impose a one-time 5% tax on billionaires under a ballot measure supporters say could raise about $100 billion to help offset federal Medicaid funding cuts, despite opposition from Gov. Gavin Newsom and other state leaders.

The proposal would apply to California residents whose net worth exceeded $1 billion as of Jan. 1, 2026. Under the initiative, roughly 90% of the revenue would be directed toward health care programs, with the remaining 10% earmarked for education and food assistance. 

Supporters of the measure, which they have branded the “Billionaire Tax,” celebrated this week after qualifying for the November ballot, arguing the proposal would help keep hospitals and emergency rooms open as California grapples with reductions in federal health care funding.

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Newsom, however, has argued the proposal is a short-term solution to a long-term budget challenge that could drive wealthy taxpayers out of the state and further destabilize California’s tax base. Democratic gubernatorial candidate Xavier Becerra and Republican candidate Steve Hilton have also voiced opposition.

A coalition of health care, education and housing organizations likewise warned the proposal could make California’s finances more volatile by encouraging high-income residents to leave.

The nonpartisan Legislative Analyst’s Office estimates the measure would generate tens of billions of dollars during its first few years, though it projects California’s personal income tax collections would later decline by hundreds of millions of dollars annually as taxpayers adjust their behavior.

California already relies heavily on its highest earners, with the state’s top 1% of taxpayers accounting for nearly half of all personal income tax revenue.

COCA-COLA TAKES ITS FIGHT WITH THE IRS TO FEDERAL APPEALS COURT WITH $20B ON THE LINE

The initiative includes several provisions designed to address concerns over how billionaires would pay the tax. Eligible taxpayers could elect to pay the liability over five annual installments, while certain individuals with largely illiquid assets could qualify for a deferral mechanism established under the proposal. The measure also contains anti-avoidance provisions intended to prevent taxpayers from shifting assets or restructuring ownership to reduce their tax liability.

Opponents argue many Silicon Valley billionaires have already relocated assets or threatened to leave California to avoid future tax increases.

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The labor union backing the proposal, Service Employees International Union-United Healthcare Workers West, previously offered to reduce the tax rate to 2% in an effort to win Newsom’s support. According to CBS News, the governor’s office said the lower rate did not change his opposition.

VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.

For many businesses, spreadsheets are the primary way to handle fleet maintenance. Going that route is affordable, intuitive, and usually sufficient in the initial stages of development.

​But using spreadsheets to organize data on car service, fuel expenses, drivers, and other important factors can become unwieldy quickly as businesses and fleets grow.

​The ability to recognize when a spreadsheet-based fleet maintenance system has run its course is essential. With that said, here are five telltale signs that it’s time to replace spreadsheets with specialized fleet maintenance software.

​1. Updating Records Requires Too Much Time

​A clear sign that it’s time to switch from spreadsheets to specialized software is when workers spend too much time updating data in spreadsheets. With the right solution in place, staff members can focus more time on core duties and less time on time-consuming tasks.

It’s also worth noting that a good fleet maintenance solution means fewer workers are needed in that area of the business. It’ll do much of the heavy lifting, so businesses aren’t distracted.

​Things that businesses need to monitor as their fleets expand include the following:

• The history of servicing of each vehicle
• Information about insurance renewals
• Driver information
• Details about warranty coverage
• Data concerning fuel consumption
• Repair and servicing reports

Updating data, maintaining consistency, and searching for specific information across multiple sheets can become time-consuming as the number of vehicles increases. Investing in fleet maintenance software is about investing in a tool that’ll help businesses operate their fleets more efficiently.

​2. Deadlines Are Frequently Missed

​It goes without saying that regular vehicle servicing and maintenance is critical to ensuring that issues are kept at bay and that all assets perform reliably. Using spreadsheets to track fleet maintenance often requires manually tracking each deadline.

​With a limited number of vehicles, it may be possible to stay on top of things. However, when the fleet grows beyond a certain number of vehicles, it may become difficult for fleet managers to monitor all maintenance schedules to ensure no required work is missed.

​Spreadsheet errors aren’t just an inconvenience — they’re also costly. One study, for instance, shows that spreadsheet mistakes cost companies $4,300 per staff member annually.

​So, if businesses find that spreadsheet errors are negatively impacting their fleets — for example, due to missed service — that’s a key indicator that fleet maintenance software is needed. Fleet assets can become less reliable if required upkeep isn’t completed on time.

​3. Obtaining Meaningful Insights Proves to Be Hard

​Business leaders must collect important data and derive insights to ensure proper decision -making. Using spreadsheets to analyze fleet performance can, all things considered, become increasingly difficult as more vehicles are added to their fleets.

​Using spreadsheets implies that the following important questions remain unanswered:

• Which vehicles require the most maintenance?
• Are fuel expenses increasing?
• Is there an urgent need to replace some assets?
• How much of productivity is affected by vehicle downtime?
• Is the corporate fleet maintenance program yielding positive results?

If businesses with spreadsheet-based systems struggle to answer these types of questions, they should consider solutions that provide essential analytics. Such data will inform good strategic planning to maximize the performance of fleet assets.

​4. Complying With Requirements Becomes Impossible

​Every business has regulatory responsibilities and requirements to adhere to. For companies working with vehicles, there is a wide range of regulations that need to be monitored to avoid trouble, including hefty fines. Depending on the industry, requirements may include the following:

• Vehicle inspections
• Information concerning driver licensing
• Insurance policies
• Service record of vehicles

Manual monitoring may become increasingly difficult as the list of requirements grows. Moreover, it can increase the risk of errors, with serious consequences. If businesses find it difficult to meet certain requirements, a specialized management system can make compliance easier and help ward off potential regulatory issues.

​5. The Fleet Is Growing Fast Enough

​It’s worth underscoring that a clear sign that businesses should abandon spreadsheets in favor of another management system is fast fleet expansion. Something that was suitable for a fleet of five cars may no longer be appropriate for one comprising 20, 50, or even 100 vehicles.

Rapid growth creates additional challenges, including the need to monitor more drivers and the spread of maintenance work across a larger number of cars, trucks, SUVs, and other vehicles in the fleet.

​Attempts to manage rapidly growing fleets using spreadsheets can lead to inefficiency, higher costs, and reduced productivity. At such moments, it’s necessary to look for alternative solutions.

​While there are some situations where using spreadsheets might be a doable option, there may come a time when it’s time to take the next logical step…investing in a software platform.

​If businesses face difficulties with recordkeeping, compliance management, analyzing fleet performance data, and controlling fleet vehicles, they should start looking for alternatives.

Implementing a specialized fleet maintenance management system can be a game-changer, helping companies get the most out of their fleet investments.

Greater Manchester Chamber and Growth Company say there are positive signs in manufacturing but warn on demand dip

Greater Manchester’s economy is staying resilient but seeing only low levels of growth, new figures have shown.

Greater Manchester Chamber of Commerce’s latest Quarterly Economic Survey (QES) showed a slight weakening in the local economy. Its headline Greater Manchester Index fell from 15 in the first quarter of the year to 13 in Q2.

Firms polled said they had been affected by dips in domestic demand and advance orders, while the service sector had seen a decline and construction had seen two consecutive quarters of contraction. Service exports also fell, but manufacturing exports rose as that sector showed some positivity.

The QES figures were revealed at the Greater Manchester Business Index event, held by the Chamber and the Growth Company at The Manchester College’s City Campus.

Subrahmaniam Krishnan-Harihara, director of business policy and research at the Chamber, said: “The key issue is that we’ve had a long period of low-level economic growth. We’re not heading towards a recession, but we do have a consistently low level of economic growth. The services-driven decline we’re seeing signals softer consumer spending but there’s been no collapse in manufacturing and construction activity is still resilient.”

He added: “The Greater Manchester Index has weakened since the last quarter. There’s no crash but it has certainly weakened compared with the last figure. The Index has been consistently hovering around the 13 to 15 mark.”

Mr Krishnan-Harihara said manufacturing had seen growth, while the Chamber’s Construction Pipeline Analysis showed £35bn of projects were planned over the next five years in Greater Manchester.

He added: “Optimism in manufacturing and construction has gone up. Nationally construction is under stress but there is resilience in Greater Manchester. There is some good news about business resilience in the figures, but we need business investment to pick up as we can’t just rely on consumer spending.”

Mr Krishnan-Harihara said the rise in the Retail Sales Index from April to May showed people were continuing to spend, but warned consumer confidence was weakening.

He said: “Many of the services sub-sectors, such as defence and health, are reliant on public sector spending but we can’t rely too much on that during times of financial stress.

“The key challenge for the new Prime Minister is: where will all the investment funding come from?”

At the QES event, Rupert Greenhalgh, head of business intelligence at The Growth Company, discussed what his organisation’s research revealed about the Greater Manchester economy.

He said: “There’s no material impact from the Middle East conflict in the figures but longer term it will wash through. In manufacturing the big concern is future orders, and we will probably start to see more stress in that area.

“Uncertainty about hiring means that the number of job vacancies in Greater Manchester is at its lowest level in five years. We’re nowhere near a recession but there’s nothing to shout about in terms of growth.”