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Sanjay Sinha, chief investment officer at SBI Mutual Fund, has been one of the most out-standing fund managers in India. An alumnus of IIM Calcutta, he joined the fund in November 2005 after a long stint with UTI where he began his career selling mutual funds. He has seen various market cycles...

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Only 28% of equity diversified growth funds  managed to outperform their benchmarks over one year, some have lost a lot of money. One more lesson on what to avoid and what to bet on. Analysis by Shailendra Lotlikar Rising crude prices, record inflation levels and higher interest rates have sent...

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One of our readers, Mayur Sindhwad, suspects that funds deliberately shun retail investors for FMPs. Here is his logic Fixed maturity plans (FMPs) are an important option for investors who like to take lower risks. Fund houses have launched several new fund offerings (NFOs) in this category and...

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SEBI bans speed-reading of MF disclaimers; will it achieve anything different? In one of its first ‘investor-friendly’ moves after CB Bhave took over as its new chairman, Securities and Exchange Board of India (SEBI) has banned mutual fund companies from speed-reading the disclaimers of fund...

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Funds have filed a plethora of schemes to gather money – without taking the trouble to differentiate themselves Desperate for funds, mutual fund companies have become frantic. High stock prices late last year and in January this year encouraged them to launch many new schemes. Sadly, they lack...

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The first international sector fund is here. Is it worth buying? Every fund house is launching a gold fund, mainly an exchange-traded fund (ETF). As we mentioned earlier, DSP Merrill Lynch has a different approach to this category. Its draft prospectus had mentioned that it would invest in gold...

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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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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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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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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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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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HSBC and Lotus have filed for identical offerings Mutual funds have turned into commodities. We have often documented how funds are copying each other’s ideas. Now two fund houses -- HSBC and Lotus -- are launching schemes that are mirror images of one another. The schemes are called HSBC Tax...

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A survey points to the overwhelming outperformance by emerging market indices over the actively-managed funds investing in places like India This magazine has consistently argued that index funds are among the best options available for investors looking to invest in the stock market for the...

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Capital protection fund is a new gimmick by mutual funds to attract money from you. Stay away from them In the 1990s, there were mutual funds that offered guaranteed returns. Every single one of these funds lost a substantial part of their capital. Amazingly, the regulator, Securities and...

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Looking for some thrill? A roller-coaster ride in an amusement park would be a cheaper and better alternative than this fund Mutual funds are getting more daring, coming out with schemes that defy all logic. ING Vysya has launched a three-year close-ended fund that will churn its portfolio,...

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Analysis by ML Research Desk 26 October 2006
Monthly Income Plans have disappointed over three months, six months and one year. Are MIPs worth buying at all? Has the possibility of excess returns gone out of this asset class? Analysis by ML Research Desk Mutual funds are known to capitalise on market fads and fancies to garner money...

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