Clarity requested in the Nomenclature of MFDs. If we can have the detailed list like FinServ, FinSol, Financial Services, Financial Distributors, InvestCare, InvestAssure etc. are Not Approved or Approved. It can work as a ready reckoner for MFDs & AMCs. @NileshShah68@amfiindia
Changes that need to be followed in all firms/ companies need more time in #COVID times. Also mid-term changes have some further issues i.e. Income Tax, GST, Bank Changes etc. Request that Last date be extended to 31/03/2021 for all including individual ARN Holders. @cafemutual
Request @SEBI_India to also consider the matter. Further, would request to have a detailed list of names that are objectionable at the time of submission of Fresh or Renewal - ARN Application or at @Camsonline be made available. @bsindia@livemint@ActusDei@latha_venkatesh
Request @amfiindia & @Camsonline that all ARNs whose name is objectionable be communicated, as all are seeking clarity from here & there, even legal opinions are being sought. Learned counsel of our firm has told us that MFDs must request concerned authorities for detailed list.
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Recent circular issued by @SEBI_India issued to @amfiindia & directed the AMCs & MFDs to comply. Being a MFD we all surely will. It further states that we cannot print/ post/ type future returns based on assumptions & projections for which disclaimer was being used (1/n)
Not challenging the decision made but what if the #investor asks that how much is expected returns - What should we say kindly enlighten the MFDs? In case of stocks upsides are always projected by way of Target & this must stop as its misleading. (2/n) @MFSahiHai
Those who distribute #mutualfunds & promote it by misusing the code of conduct in any way stern action is always taken & should always be taken. Professionally we are perfectly in favor of it. Rules & regulations must be abided. (3/n)
To do any kind of modification in KYC records, there is no digital process as on today. Investor or MFD has to do the needful via physical application only. Would request @amfiindia @MFBALA@SEBI_India to make this process digital in the interest of #investors (1/n) @MFSahiHai
- Propose that Video KYC can be like the Banks are doing while applying for Credit Cards or Loans. Dedicated executives can assist #investors for RIs/ NRIs. IPV would be more real-time.
- Propose that Aadhaar Based KYC Validation be made quicker by virtue of OTP @amfiindia (2/n)
- Propose a dedicated link that can be provided to MFDs to ease the load on KRAs by Aadhaar based OTP Validation in order to save the transaction time.
- Propose that a common pool be created among all KRAs so that data can be fetched on real-time basis. @amfiindia (3/n)
#Investors should avoid knee-jerk reaction as the investigation is still underway & @AxisMutualFund has already sacked the concerned officials from their responsibilities.
Extent of notional losses that may have occurred to the #investors in these schemes can only be estimated after the probe. Investors may have to wait for further action, disclosures & announcements from the fund house & the regulator around this matter.(2/n) #axismutualfund
Unfortunately @AxisMutualFund is witnessing knee-jerk reaction of #investors via redemptions or stoppage of SIPs/ STPs. Focus of facts not rumors about the management. Such rumors have been there from past 2 years for @FTIIndia as well. (3/n)
A #finance professional must sell products which have strong foundation not because of high returns. Though on high return & risk basis #crypto can be considered may be 2% to 5% money of #portfolio which one is fine to take the chance or gamble. (1/n) #cryptocurrency#CryptoNews
#Crypto is, was & will always be 'A Zero Foundation Product'
If one is so bullish on #Crypto, one can recommend his or her clients to a greater extent instead of preaching a lot on crypto. Too much of crypto debate is not right as in our country its neither legal or illegal as on today. (3/n) @cafemutual@kaul_vivek@latha_venkatesh
Oaktree roots grow from an acorn to a taproot system, similary #wealth is created via #MutualFunds. Primary root would grow horizontally into the soil. Later on, would transform into an extensive root system alongside maturation of the plant i.e. Magic of Compounding (2/n)
Only 1 in 10,000 acorns grow up to be an oak tree, and the same is true for #mutualfund#investors - only 1 out of many stay put to see the magic of compounding. One of such living legend is @Raamdeo (Mr. Raamdeo Agarwal - Chairman & Co-Founder @MotilalOswalLtd) 👇 (3/n)