Indian Mutual Fund Investors must get MIN
Thursday, December 28, 2006
Indian Mutual Fund investors who invest more than Rs 50,000 in one go are now expected to get a MIN - Mutual Fund Identification Number without which he will not be able to invest from Jan-01-2007. Regulators want to know more about funds and investors under the "Know Your Customer - KYC" policy such that their is no illgeal channels of fund flows into the country.
A P Kurian, Chairman of AMFI explains the need for MIN in the following video,
Tags: Mutual Funds India, Emerging Market, Indian Customer, DalalStreet
Published by DalalStreet Business @ 2:35 PM
HSBC - Global Emerging Market Fund in India
Wednesday, December 27, 2006
HSBC Mutual Fund India has filed a draft offer document with SEBI for launching a new fund that will invest in emerging markets.The significance of this fund is, it will not only invest in Indian Stocks but also stocks of other emerging markets such as Argentina, Brazil, Russia, China and East Europe. The fund will have both BSE 200 and MSCI Emerging Market Index as its benchmark.
One should invest some sum in this fund as well as you see India has been an underperformer in 2006 compared to China and India is also a very expensive emerging market at P/E of 18. In such situations, these funds will reduce exposure in India and move their money to other lucrative markets such as Brazil.
Stay Tuned, I'll review the fund and post more views on it when it will be launched [ maybe Q1-2007].
Tags: Emerging Markets, HSBC India, Mutual Funds, Growth Stocks
Published by DalalStreet Business @ 6:29 PM
Reliance Growth Fund - SIP Review and Analysis
Saturday, December 23, 2006
Till now we have been only recommending HDFC Funds - Equity and Top 200. However, last month we recommended investors to invest in the NFO of Reliance Long Term Equity Fund. Our research team has carefully analysed Reliance Growth fund managed by Sunil Singhania and we recommend SIP investors to invest in the same.
Reliance Growth fund is a pure equity fund which mainly invests in Large Cap and Mid Cap stocks. If you have seen the presentation of Singhania, you will be convinced that he is in lookout for a sunrise sector and emerging companies of the same. These companies will always give higher percentage of returns.
Here is a quick look at historical performance of Reliance Growth Fund. Since inception, it has yielded a compounded return of 33.7% for NFO investors and 40.20% for SIP investors. Your investment of Rs 1,33,000 over a period of 11 years is today worth, Rs 14,75,756 :-) Kindly take a look at the attached excerpt from the latest factsheet.
Published by DalalStreet Business @ 10:54 AM
