Alldigi Tech & LuLu Financial Partner to Simplify Payroll for SMEs in MEA Region

Alldigi Tech Limited, formerly known as Allsec Technologies Limited, has announced a strategic partnership with LuLu Financial Holdings, a global financial services provider based in the UAE. This collaboration aims to redefine payroll and HR management solutions for small and medium enterprises (SMEs) across the Middle East and Africa (MEA) region.

Alldigi Tech, a subsidiary of Quess Corp, processes over 1.5 million payslips every month, making it a key player in the payroll industry. By integrating its expertise with LuLu Financial Holdings’ extensive reach and financial services network, the 2 companies seek to simplify and enhance payroll and HR processes for businesses of all sizes.

Alldigi Tech’s share price was trading 0.20% higher as of 10:51 AM on February 6, 2025.

How the Partnership Benefits SMEs

The partnership will allow LuLu Financial Holdings to integrate Alldigi Tech’s advanced payroll platform into its ecosystem, offering SMEs a seamless and efficient payroll processing experience. The key benefits of this initiative include:

  • Automated Payroll Processing: Businesses can now handle salary calculations with greater accuracy, reducing manual efforts and minimising errors.
  • Regulatory Compliance: The integrated solution ensures compliance with local payroll regulations, reducing the risk of legal and financial complications.
  • Time and Cost Efficiency: By streamlining payroll and HR functions, SMEs can save valuable time and resources, allowing them to focus on business growth.
  • Seamless Integration: The solution integrates effortlessly with LuLu Financial Holdings’ offerings, ensuring a hassle-free experience for clients.

Industry Leaders Speak on the Partnership

Commenting on the collaboration, Richard Wason, CEO of LuLu Financial Holdings, said,
“Our mission has always been to provide innovative and accessible financial solutions that meet the diverse needs of the community. Partnering with Alldigi Tech will enable us to offer a simple, cost-effective payroll management solution, helping SMEs reduce administrative burdens and focus on growth.”

Similarly, Naozer Dalal, CEO of Alldigi Tech, highlighted the synergy between the two companies, stating, “We are excited about this partnership as it combines our payroll expertise with LuLuFin’s deep understanding of the SME sector. Together, we are creating a solution that not only addresses the growing demand for payroll automation but also helps businesses run more efficiently and enhance employee satisfaction.”

Empowering SMEs with Technology-Driven Payroll Solutions

Through this collaboration, SMEs will gain access to a simplified, technology-driven payroll solution backed by strong customer support. The partnership combines LuLu Financial Holdings’ local market expertise with Alldigi Tech’s innovative payroll and HRMS technology, helping businesses streamline their payroll processes efficiently.

With an increasing demand for payroll automation, this initiative is set to reshape how SMEs handle workforce management, ensuring both compliance and operational efficiency.

About LuLu Financial Holdings

LuLu Financial Holdings is a leading global financial services provider offering cross-border payments, currency exchange, and financial technology solutions. Operating in over 10 countries across the Middle East, the Indian subcontinent, and the APAC region, the company is known for its commitment to innovation and customer satisfaction.

About Alldigi Tech

Alldigi Tech Limited, formerly known as Allsec Technologies Limited, has been a trusted leader in customer and employee experience management for over 24 years. Backed by Quess Corp and Fairfax Holdings, the company provides payroll and HR management solutions globally, serving over 400 clients, including Fortune 100 companies, across 42 countries.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

HCLTech Partners with ChargePoint to Improve EV Charging Technology

HCLTech, a leading global technology firm, has announced a strategic collaboration with ChargePoint, a prominent provider of networked EV charging solutions. This partnership aims to accelerate innovation in electric vehicle (EV) charging software, a crucial component in the transition towards sustainable mobility.

As of 10:43 AM on February 6, 2025, HCL Tech’s share price was up by 0.20%.

A New Research and Development Hub in Bengaluru

As part of this initiative, HCLTech has inaugurated an advanced research and development (R&D) centre for ChargePoint in Bengaluru, India. This facility will serve as a central hub for ChargePoint’s software development efforts, leveraging HCLTech’s extensive engineering expertise to create scalable and customisable EV charging experiences.

Speaking at the launch event, Rick Wilmer, CEO of ChargePoint, highlighted the strategic importance of India in the company’s growth journey. “India has long been vital to our success, and this is a critical region for our software development. We aim to recruit the brightest talent for this new facility to develop products that will shape the future of our industry,” he said.

Strengthening the EV Charging Ecosystem

With the increasing global adoption of EVs, reliable and efficient charging infrastructure is crucial. HCLTech’s role in this collaboration is to enhance ChargePoint’s innovation strategy by integrating its advanced engineering capabilities into the development of next-generation EV charging technologies.

Ajay Bahl, Chief Growth Officer, Americas, Manufacturing, and Allied Industries at HCLTech, expressed enthusiasm about the partnership: “We are pleased to be a part of ChargePoint’s EV innovation journey and accelerate the transition towards sustainable mobility solutions. HCLTech’s comprehensive portfolio will contribute to ChargePoint’s mission to delight customers with superior charging experiences.”

About HCLTech

HCLTech is a global technology leader, operating across 60 countries with a workforce of over 220,000 professionals. The company provides cutting-edge solutions in digital, engineering, cloud, and AI, serving industries such as financial services, manufacturing, healthcare, telecommunications, and retail. For the 12 months ending December 2024, HCLTech reported consolidated revenues of $13.8 billion.

About ChargePoint

ChargePoint has been at the forefront of EV charging solutions since 2007, building one of the largest EV charging networks worldwide. Its cloud-based subscription platform and software-defined charging hardware cater to a diverse range of needs, including home, workplace, retail, and fleet charging. ChargePoint’s solutions are designed to make EV adoption seamless for businesses and drivers across North America and Europe.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Apollo Micro Systems Entered Into a Consortium Pact with Redon Systems

Apollo Micro Systems Ltd., established in 1985 and headquartered in Hyderabad, stands as a distinguished leader in the design, development, and assembly of bespoke electronic and electro-mechanical solutions.

Consortium Agreement with Redon Systems Pvt Ltd

In a strategic move to bolster India’s defence manufacturing capabilities, Apollo Micro Systems has forged a landmark consortium agreement with Redon Systems Pvt Ltd. This collaboration aims to spearhead the production of state-of-the-art loitering munition systems and allied technologies, reinforcing India’s ambition towards self-reliance in defence technologies.

Pioneering Defence Consortium

The alliance between Apollo Micro Systems and Redon Systems Pvt Ltd will harness their combined expertise to jointly develop and manufacture advanced Containerised Automatic Landing Module systems. Redon Systems, renowned for its cutting-edge loitering munition technology, has successfully showcased its products to the Indian Armed Forces, cementing its reputation as a trusted partner in defence innovation.

This strategic partnership is set to significantly elevate Apollo Micro Systems’ prominence within the defence sector, positioning the company as a pivotal player in fulfilling India’s critical defence manufacturing requirements.

Impressive Financial Performance

Apollo Micro Systems delivered outstanding Q2 FY25 results, with revenue surging 85% to ₹206 crore and net profit soaring 105% to ₹21 crore compared to ₹10.2 crore in Q2 FY24. Backed by a robust order book of ₹1,375 crore and strong demand for defence and aerospace solutions, the company remains confident of exceeding its 45% revenue growth target for FY25.

Apollo Micro Systems Ltd: Share Price and Market Performance

On 6 February 2025, Apollo Micro Systems Ltd. commenced trading at ₹130.70, marking a 1.98% rise from its prior closing price of ₹128.20. The stock demonstrated impressive momentum, surging to an intraday high of ₹134.90, a notable gain of 5.24%, while touching a low of ₹129.20.By 12:49 PM, the share was trading at ₹130.92, reflecting a 2.15% increase, reinforcing investor confidence. With a commanding market capitalisation of ₹4,015.01 crore.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Oswal Greentech Has Acquired a 4.97% Stake in Oswal Agro Mills Limited

Oswal Greentech Limited, established in 1981 and headquartered in New Delhi, India, predominantly operates in real estate development and strategic investments. The company’s activities span trading real estate assets, equity investments, and extending inter-corporate deposits.

Oswal Greentech Limited Acquired 4.97% Stake in OAML

In a significant move to bolster its influence and reaffirm its commitment to stakeholders, Oswal Greentech, the promoter of Oswal Agro Mills Limited (OAML), has recently acquired a 4.97% stake, equivalent to 66,82,109 shares, in OAML. 

Prior to this acquisition, Oswal Greentech held 1,000 equity shares in the company. While the acquisition does not stem from any immediate operational necessity, it aims to enhance market confidence, provide strategic agility, and consolidate the promoters’ control over the enterprise.

About Oswal Agro Mills Limited (OAML)

Oswal Agro Mills Limited, founded in 1979, operates across key sectors, including real estate development, commodity trading, and investment management. The company also lends surplus funds as interest-bearing inter-corporate deposits. In FY24, Oswal Agro Mills reported a turnover of ₹1.86 crore. Prominent stakeholders in the company include Aruna Oswal with a 41.74% holding, Shallu Jindal with 0.12%, and Pankaj Oswal holding 0.06%.

Oswal Greentech Limited Q2 FY25 Results

Financially, Oswal Greentech witnessed a promising turnaround in the second quarter of FY2024-2025, reporting a net profit of ₹3.94 crore compared to a net loss of ₹3.23 crore in the corresponding period of the previous year. Year-over-year net sales surged by 31.69%, reaching ₹14.96 crore.

Despite this resurgence, the company faces hurdles in sustaining profitability. Profitability experienced a dramatic 221.88% year-over-year decline, coupled with a 15.71% dip compared to the preceding quarter. Additionally, the operating profit margin turned negative at -1.74%, slipping from 4.42% in the previous quarter.

Oswal Greentech Ltd. Share Price and Performance 

At 12:17 PM today, Oswal Greentech Ltd. shares traded at ₹46.83 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Vishnu Prakash Punglia Has Received a Letter of Award From BHEL

Vishnu Prakash R Punglia Limited is a distinguished infrastructure development firm based in India, renowned for its expertise in delivering high-calibre projects spanning water supply systems, roads, highways, bridges, and irrigation networks. 

Vishnu Prakash R Punglia Limited Got LOA From BHEL

Vishnu Prakash R Punglia Limited recently celebrated a monumental achievement by securing a prestigious Letter of Award from Bharat Heavy Electricals Limited (BHEL). This coveted contract, valued at ₹247.55 crore, pertains to the civil, structural, and architectural works for the expansive 1X800 MW NTPC Sipat Project.

Details about Project

The project’s comprehensive scope encompasses pivotal construction activities within the Power Block Area, including the Power House, Boiler, Electrostatic Precipitator (ESP), Mill & Bunker, Transformer Yard, Turbine Generator (TG), Boiler Feed Pump (BFP), Fan Foundations, Flue Gas Desulphurisation (FGD) system, and Chimney Raft. 

Additional undertakings include paving works, the installation of sewage water lines, low-pressure piping and fire-fighting civil works, rooftop solar system foundations, worker accommodation, and ventilation ducting.

Vishnu Prakash R Punglia Limited Q2 FY25 Results

Vishnu Prakash R Punglia Limited also showcased impressive financial performance in its Q2 FY25 results. Revenue surged by approximately 13% year-on-year to ₹3,348.69 million, up from ₹2,964.39 million in Q2 FY24, driven by enhanced operational efficiency and accelerated project execution. Net profit climbed by 12% to ₹237.33 million compared to ₹212.46 million in the same period last year.

Despite these commendable gains, earnings per share (EPS) saw a modest decline to ₹1.90 from ₹2.05 in Q2 FY24, while profit margins edged down to 7.0% from 7.2%, largely attributable to elevated expenses. Nonetheless, the robust growth trajectory underscores the company’s strategic prowess and operational resilience.

Vishnu Prakash R Punglia Ltd. Share Price and Performance

At 11:46 AM today, Vishnu Prakash R Punglia Ltd. shares traded at ₹217.65 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Mahindra Manulife Mutual Fund Launches Value Fund

Mahindra Manulife Mutual Fund has launched the Mahindra Manulife Value Fund, an open-ended equity scheme that follows a value investing strategy. The fund aims to invest in undervalued but fundamentally good companies with the potential for re-rating and earnings growth.

NFO Details

The New Fund Offer (NFO) for the Mahindra Manulife Value Fund will open on February 7, 2025, and close on February 21, 2025. After the NFO period, the scheme will be available for continuous sale and repurchase from March 5, 2025.

Investors can start with a minimum investment of ₹5,000, with additional investments in multiples of ₹1. The fund is benchmarked against the Nifty 500 Value 50 Index.

Category Details
NFO Opening Date February 7, 2025
NFO Closing Date February 21, 2025
Continuous Sale & Repurchase Start March 5, 2025
Minimum Investment ₹5,000
Additional Investment Multiples ₹1
Benchmark Nifty 500 Value 50 Index

Investment Strategy

The scheme follows a bottom-up stock selection approach, identifying companies trading below their intrinsic value. It also involves fundamental analysis of businesses with strong financials and sustainable competitive advantages.

The portfolio will include stocks across large-cap, mid-cap, and small-cap segments. The fund house states that the scheme is aimed at investors looking for long-term capital appreciation.

Fund Management

The fund will be managed by Krishna Sanghavi, CIO – Equity, and Vishal Jajoo, Fund Manager – Equity. Their role will involve identifying companies that align with the fund’s value investing strategy and managing the portfolio accordingly.

This fund is for investors seeking exposure to value stocks, companies that may be undervalued in the market but have strong fundamentals. The strategy focuses on stocks with potential price corrections and long-term prospects.

However, any equity fund comes with market risks so investors should assess their risk tolerance and investment horizon before considering this fund.

Ready to watch your savings grow? Try our SIP Calculator today and unlock the potential of disciplined investing. Perfect for planning your financial future. Start now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Bajaj Allianz Life Insurance Launches Nifty 500 Multicap Momentum Quality 50 Index Fund

Bajaj Allianz Life Insurance has introduced the Bajaj Allianz Life Nifty 500 Multicap Momentum Quality 50 Index Fund, an index-based fund available under its Unit Linked Insurance Plans (ULIPs). The New Fund Offer (NFO) is open until February 14, 2025.

Benchmark and Stock Selection Criteria

The fund tracks the Nifty 500 Multicap Momentum Quality 50 Index, which selects stocks based on momentum and quality factors from the Nifty 500 index. The momentum factor is determined by a stock’s six-month and 12-month price return, adjusted for volatility. 

The quality factor considers financial indicators such as return on equity (ROE), debt-to-equity ratio, and earnings growth variability over the past five years.

Portfolio Across Market Segments

The fund offers exposure to a mix of large-cap, mid-cap, and small-cap stocks that meet the selection criteria. The idea is to maintain a balanced portfolio that combines high-momentum stocks with good financial fundamentals.

The index is rebalanced and reconstituted semi-annually in June and December to reflect changing market conditions and make sure that the selected stocks meet the fund’s criteria.

ULIP Integration

Since the fund is available through Bajaj Allianz Life’s ULIPs, policyholders investing in ULIP plans can opt for this fund as part of their allocation. ULIPs combine life insurance with investment options, allowing policyholders to invest in different funds based on their preferences.

NFO Details and Considerations

The NFO opened on February 4, 2025, and will remain open until February 14, 2025. Investors looking to participate in an index-based ULIP fund with a focus on momentum and quality-based stock selection can consider this offering. However, as with any market-linked investment, returns are subject to market risks, and investors should evaluate their risk appetite before investing.

Want to plan regular withdrawals? Our SWP Calculator helps you calculate how much you can withdraw while keeping your investments intact. Try it now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Hexaware Technologies IPO Set to Open on February 12, 2025: Key Things to Know

Hexaware Technologies’ ₹8,750 crore initial public offering (IPO) is to open for subscription from February 12 to February 14. The company has set a price band of ₹674 to ₹708 per share. The issue is entirely an offer-for-sale (OFS) of 12.36 crore shares by CA Magnum Holdings, a subsidiary of Carlyle Group Inc. 

Since this is a pure OFS, Hexaware Technologies itself will not receive any proceeds, everything will go to the selling shareholder.

IPO Timeline

Event Date
IPO Opens February 12
IPO Closes February 14
Basis of Allotment February 17
Refund Initiation February 18
Shares Credited to Demat February 18
Listing Date February 19

Investor Participation and Lot Size

Investors can bid for a minimum of one lot (21 shares), requiring an investment of ₹14,868. The allocation breakdown is as follows:

  • 50% of the net offer is reserved for Qualified Institutional Buyers (QIBs)
  • 35% for Retail Individual Investors (RIIs)
  • 15% for Non-Institutional Investors (NIIs)

For small non-institutional investors (sNII), the minimum investment is ₹2,08,152 (14 lots), while large non-institutional investors (bNII) can apply for at least 68 lots, which amounts to ₹10,11,024.

Financial Performance

In FY24, Hexaware Technologies reported a 12.8% increase in net profit, reaching ₹997.6 crore, compared to ₹884.2 crore in the previous fiscal. Revenue from operations also grew by 12.8%, from ₹9,199.6 crore in FY23 to ₹10,380.3 crore in FY24.

For the first nine months of FY25, the company posted:

  • Revenue: ₹8,820 crore (13.6% YoY growth)
  • Net Profit: ₹853.3 crore (6% increase YoY)

Business Segments

Hexaware Technologies operates across six sectors:

  • Financial Services
  • Healthcare & Insurance
  • Hi-Tech & Professional Services
  • Manufacturing & Consumer
  • Banking
  • Travel & Transportation

The company has set aside ₹90 crore worth of shares for employees in the IPO.

Lead Managers and Registrars

The IPO is being managed by Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India, HSBC Securities & Capital Markets, and IIFL Securities. KFin Technologies is the registrar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments are subject to market risks, read all scheme-related documents carefully.

Kotak CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund Draft Filed

Kotak Mahindra Mutual Fund has filed a draft for the Kotak CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund. This is an open-ended index fund that aims to track the CRISIL-IBX Financial Services 3 to 6 Months Debt Index. 

It falls under the category of constant maturity index funds, offering exposure to short-term debt securities with lower interest rates and credit risk​.

Metrics Details
Load Structure No exit load
Minimum Investment Amount ₹100 and any amount thereafter
Minimum Additional Purchase ₹100 and any amount thereafter
Minimum Redemption ₹100 or account balance, whichever is lower
New Fund Offer Price ₹10 per unit during NFO

Objective and Strategy

The scheme’s objective is to generate returns in line with the underlying index, which consists of corporate debt securities, Commercial Papers (CPs), and Certificates of Deposit (CDs) with maturities between three to six months. 

The fund follows a passive investment approach and does not actively manage portfolio composition. Asset allocation is as follows:

  • 95-100% in securities that form part of the CRISIL-IBX Financial Services 3 to 6 Months Debt Index.
  • 0-5% in cash and other money market instruments​.

Benchmark 

The fund is benchmarked against the CRISIL-IBX Financial Services 3 to 6 Months Debt Index, which includes AAA-rated financial sector instruments. Tracking errors may occur, but the fund aims to maintain alignment with the index over time​.

Liquidity and Fund Structure

Since this is an open-ended fund, investors will be able to subscribe and redeem units at NAV-based prices on all business days. The Net Asset Value (NAV) will be disclosed daily on the Kotak Mutual Fund and AMFI websites​.

The scheme will be managed by Manu Sharma, who has experience in fixed-income fund management. 

Risks and Considerations

  • Sectoral Risk: The fund invests in debt securities of financial institutions, which could lead to concentration risk.
  • Tracking Error: Passive funds may not exactly replicate index returns.
  • Liquidity Risk: Market conditions can impact the ease of buying and selling underlying securities​.

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Understanding the Blue Dart Delivery Scam and Protecting Yourself

With the rise of online shopping, fraudulent delivery scams have become increasingly common. A new scam involving fake calls from individuals posing as Blue Dart executives has emerged, tricking unsuspecting people into compromising their financial and personal security. 

Understanding how this scam operates and taking preventive measures is essential to avoid falling victim to such deceptive tactics.

How the Blue Dart Delivery Scam Operates

Scammers typically initiate this fraud by sending a fake delivery failure notification, claiming that a parcel could not be delivered due to incorrect details. Victims then receive a call from someone impersonating a Blue Dart representative, who requests them to verify personal information or enable call forwarding.

Once call forwarding is activated, fraudsters can intercept calls and messages, potentially gaining access to banking information, OTPs, and other sensitive data. This scam exploits the trust individuals place in courier services, making it crucial to stay vigilant against such deceptive practices.

Preventive Measures and Staying Safe

To protect yourself from such scams, always verify the authenticity of delivery notifications. Contact the courier service directly through their official website or customer service number instead of responding to unexpected calls.

Never share personal details or enable call forwarding unless you are certain of the caller’s identity.

Enabling two-factor authentication (2FA) on banking and email accounts can provide an added layer of security. Additionally, staying informed about common scams and reporting suspicious activity to the authorities can help prevent others from falling victim to similar frauds.

Conclusion

The rise in online shopping has provided scammers with new ways to deceive individuals. The Blue Dart delivery scam is just one of many fraudulent tactics used to gain access to sensitive information. By staying alert, verifying delivery claims, and refusing to share confidential details over the phone, individuals can safeguard themselves against such cyber threats.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.