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CA Puneet Agarwal Profile picture
@banyanfa
Nov 18, 2019 • 3 tweets • 2 min read • Read on X
Regular plans are becoming cheaper, Direct Plans are becoming more expensive. Ask a fund house why this is happening... Radio Silence #MutualFundsSahiHai
The analysis is for one fund only in Small Cap space of a big fund house. 1/4/19 to 11/10/2019 Image
Same Fund - Midcap Fund.. During same period Regular TER came down from 1.91 to 1.71, while Direct Plan went up from 1.06 to 1.21

Is any one watching this space ?

I am wondering if Regular plans were earlier subsidizing Direct Plans and post cost cuts, reality is diff to hide ? Image
Lastest as of today from @dspmf

Midcap TER regular went down from 1.67% to 1.66% (understandable)
Same scheme, Direct plan went up from 0.78% to 0.99% (a whopping 27% jump)

If any one can interpret ! Image

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More from @banyanfa

CA Puneet Agarwal Profile picture
Mar 20, 2022
If you are a NRI who hasnt filed returns in India for years & who hasn't linked PAN with Adhaar, then please by 31 March 2022 do atleast one of the two tasks :
Please RT for further share this thread
1. If you have an Adhaar, you must link it to your PAN. You can check the PAN Adhaar link status via the easy link below. It works via a desktop
pan.utiitsl.com/panaadhaarlink…
2. You may have an inhibition on not linking your PAN with Adhaar. There isnt much happening via the linking. All of your key info is already with the Govt. Your biometrics are with them already via Adhaar. What else could you hide. Hence I recommend strongly to link
Read 8 tweets
CA Puneet Agarwal Profile picture
Dec 22, 2020
@MotilalOswalAMC annual Wealth creation study is live now. One of the most anticipated financial event in a year.
This year is the 25th Wealth Study and kudos to @Raamdeo for his consistent annual efforts to continue this activity.
This year's theme is coming up with a checklist of 25 questions (checklist) to identify bottom-up stock picking
Read 54 tweets
CA Puneet Agarwal Profile picture
Oct 4, 2020
Having data scientist is a common thing for all data centric businesses. You will be killed if you dont have it. I won't just run behind HDFC Life because for this fact. On the contrary, their tech sucks ! Ask their sales teams. They don't even hv a decent proposal capture app.
To know about tech, learn from any of the ICICI group companies. Miles ahead. Compared to ICICI Pru, HDFC Life is in stone age. Marcellus may say channel checks, but I am a part of the channel and their customer too. If Tech is the reason, then they got it wrong.
When it comes to investing in Life insurance companies, I don't always see the point. Their major part of the product is sulking investment portfolios of traditional and ULIPs. No sane investor would invest in them. Their agents won't love to sell Term Covers, which is the core
Read 6 tweets
CA Puneet Agarwal Profile picture
Sep 9, 2020
Monthly economic outlook from @KotakMF

Inflation is at an elevated levels. Image
Big spread between India vs US 10 year rate curve. US is
0.25% vs India at 6.117% Image
Longer term rates have yet to come down meaningfully. Shorter duration rates have come down materially. Orange line is for Aug 2020 vs the blue line of Jan 2020. Image
Read 24 tweets
CA Puneet Agarwal Profile picture
Aug 30, 2020
A dividend policy of a Company is a vital piece of info which should be considered for an investment decision. Generally a Co in high growth path would like to retain max earnings into the business to fund it's expansion plans. This sounds reasonable provided growth can be seen
If a Co doesn't have much of an expansion requirement or churns free cashflow in excess of its expansion, it should distribute the surplus to the shareholders. This is again okay, provided, one is not investing in a Co which has sub par growth and no future capex
A Co may retain its earning to bail it out of debts or excessive working capital needs. A not so happy situation to be in. This could at times be confused with high growth requirements & needs to be studied by lifting the lid of the can. Nothing much can be done here and
Read 6 tweets
CA Puneet Agarwal Profile picture
Aug 28, 2020
Tale of two PMS managers. First is one of the largest in India and avoids punter giri. Good stocks and strong track records. It didn't buy Reliance earlier citing Aggressive Accounting. Bought it in May post International stake sales. Perhaps, will help to align to benchmarks.
Another one is a recent entrant and its founder enjoys immense respect. Sticks to quality. By its Investment process, I believe that it won't buy Reliance till the business is a compounder and it gets free cashflow. Cites it's recent underperformance to not holding Reliance.
Hard to say if the recent entrant will succumb to the pressure of buying Reliance (like the first PMS). Fund manager job is hard. If they stick to their process, the investors would strangle them for recent underperformance. If they go to beat the benchmark, inv will challenge..
Read 4 tweets

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