Total assets owned by BJP’s candidate from Mandi, Himachal Pradesh Kangana Ranaut are valued at nearly ₹91 crore, showed the nomination papers she filed with the Election Commission of India (ECI) on Tuesday.
The 37-year-old actor has ₹2 lakh in cash and shares amounting to ₹1.22 crore in her companies Manikaran Films and Manikarnika Space LLP.
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Other assets include 50 insurance policies issued by Life Insurance Corporation (LIC), gold weighing 6.7 kg amounting to ₹5 crore, silver weighing 60 kg amounting to ₹50 lakh and diamonds amounting to ₹3 crore. Each of her 50 life insurance policies has a surrender value ranging between ₹one to ₹11 lakh.
| Category | Value ( ₹) |
| I. Total movable assets | 28.73 crore including |
| Gold Silver Diamond Cash Shares |
5 crore 50 lakh 3 crore 2 lakh 1.22 crore |
| II. Immovable assets | 62.2 crore |
| Total assets | 91 crore |
What do wealth advisors say
Investment advisors MintGenie spoke to believe that Ranaut should diversify her assets into equity and mutual funds to earn higher returns on investment.
Around 87 percent of her assets are in physical assets, so she is asset rich and cash flow poor, believes Sridharan Sundaram, a Sebi-registered investment advisor and founder of Wealth Ladder Direct.
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“She should have at least 30-40 percent in financial assets. If there is a crisis, she can’t sell part of her property. She should expose to equity in Indian markets given her age and the Indian growth story — – this is the only recommendation. As far as too many LIC policies are concerned, I am not sure if the maturity value of those policies will provide adequate liquidity considering her lifestyle,” he adds.
Preeti Zende, Sebi-registered investment advisor and founder of Apna Dhan Financial Services, says, “Kangana should diversify her assets in equity and mutual funds for better return and liquidity. She holds 50 LIC Policies. All these policies may be traditional plans where insurance and investments are mixed and that results in poor returns and high costs. She should have gone to a pure Term Plan for life insurance purposes and should have invested the extra premium in mutual funds for better cost and superior return.”
Decline in income
Ranaut’s income, as per the nomination papers, stood at around ₹4.12 crore for fiscal 2022-23, which was substantially lower than what she earned in the preceding years. The actor-producer-politician declared her income for FY 22 to be ₹12.3 crore, and ₹11.95 crore for FY 21. In fiscal 2019-20, she declared her income to be ₹10.3 crore.
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Published: 15 May 2024, 04:23 PM IST