INVESTOR INTEREST


A high-risk scheme with CRISIL Liquid Fund Index as its benchmark! It’s all very fine for the market regulator to dash off a letter to MoneyLIFE on behalf of fund companies coming out with mis-labelled schemes, but the supply of funny schemes from the fund industry looks endless as the...

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Funds encoureage churning to meet targets while the incentive to sell insurance is too high Recently, I met a friend who is in the business of distribution of mutual funds and life insurance. We were discussing issues relating to selling of both and some interesting facts emerged. During a...

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These funds have negligible public participation. Yet, the regulator allows these to remain in the public domain! Mutual funds are meant for the public, just as listed equity shares are. But while listed companies have to ensure a minimum public participation, mutual funds are exempt from it....

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Sucheta Dalal Sucheta Dalal 07 December 2006
A large number of companies have queued up at SEBI to make public issues. SEBI has been accused of dragging its feet in ‘clearing’ them. But when it looked closely at the draft prospectuses, SEBI discovered scores of problems in disclosures. This is the seamy side of a red hot IPO market....

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ML Research Desk 07 December 2006
Of the 15 mid-cap funds with a one-year record, only 7 have beaten their benchmarks. Analysis by ML Research Desk MoneyLIFE has been extensively tracking the performance of the fund industry since its launch and has proved, through its research, that more than half the funds fail to beat...

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If and when asset management companies are listed, sell all your funds and buy the stocks of AMCs! Here is why This magazine has repeatedly proven that a large number of funds underperform their respective benchmarks. Intensive fund tracking in the US spread over the last 40 years reveals...

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A slew of new funds is offering combined flavours. Some will work. As usual, you can never know in advance which one Pru ICICI’s new fund, Equity and Derivative Fund, has two flavours. One is designed to appeal to the conservative investors and the other is more geared to take advantage of...

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It is a debt fund that is benchmarked against Nifty. It is called Index Enhancer but it will not buy index stocks. With at least 55% invested in debt, it warns you that it will be a high-risk fund. How much stranger can mutual funds get? Among the long list of mutual funds that are...

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It is not easy to create proof of identity and address that are acceptable to banks, brokers, SEBI and other regulators quickly. For the common person, the most dreaded thing today is Know Your Customers or KYC. For every kind of financial transaction, whether mutual funds or stock trading or...

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Some Suggestions for SEBI I am listing down some suggestions for SEBI to implement which would benefit mutual fund investors. 1. Format of data sheets, application forms and other forms of all mutual funds should be identical to enable easy comparison and filling. Usually, clients want us to...

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The growth of Divi’s shows no signs of slowing down Differences between drug companies are very significant. Some of them are focused on contract research. Others are focused on domestic formulation. Some others are focused on the off-patent opportunity. To know about the risks and...

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Another new fund flavour. Will it work? It is the business of asset management companies to gather assets because they make money on the money they manage. To claw assets out of investors, AMCs come out with products of different flavours - balanced funds, contra funds, flexi-cap, MIPs, rural...

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Marico has an interesting portfolio of products built slowly over a long period Between 1996 and 2002, consumer products companies suffered badly due to poor off take. From 2003, they have enjoyed tremendous volume growth as overall economic growth and consumption picked up. In this boom, it is...

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Three new arbitrage funds have been filed. Do they make much sense? Three fund houses have filed for launching arbitrage funds: Canbank, Tata and Standard Chartered. Some time ago, SBI came out with its Arbitrage Opportunities Fund and, before that, UTI launched its Spread Fund. Do arbitrage...

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ML Research Desk 23 November 2006
Sector funds focus their attention on the stocks of just one sector. Buying them is a bad idea, as we had pointed out earlier. But if you must buy one, which one should you go for? ML Research Desk offers the options The theoretical case for sector funds is very strong because it can be based...

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AIA is expensively valued and justifiably so AIA Engineering Ltd, an Ahmedabad-based company, is a niche player in the value-added high chrome metallurgy segment catering to cement, mining and thermal power industries. All these sectors are doing extremely well and AIA has been riding that...

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ML Research Desk 23 November 2006
These companies have been doing very well for the last five years but are not on the market's radar yet. Are they worth buying?Analysis by ML Research Desk Most investors, including fund managers, react to market conditions like lemmings, stampeding into stocks when the market is rising...

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Gary Smith, a professor at Pomona College in California does very interesting studies on stock markets. One of his creations is a FUN Index of catchy stock symbols, tagged to American stocks. He asked his finance students to pick their favourite stock symbols among the 33,000 ticker symbols that...

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How is wine as an investment? “First Growth Bordeaux of 1990 vintage has beaten the S&P 500 hands down over the last 15 years.” Internationally, arguments like these float around in favour of wine as an investment. With the help of selective facts you can argue that fine wine is a better...

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Earnings growth overshadows inflation fears What a difference five months can make. Inflation is back in the news but, unlike in May when investors panicked globally and sold off risky assets as if there is no tomorrow, this time, the market has shrugged off the trend and has focused on the...

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