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Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
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13 Oct, 3 tweets, 5 min read
Inter Scheme Transfer Norms will benefit the #investors & the change will lead to enhanced accountability of fund house & fund management team of both the transferor & transferee scheme. #mutualfunds #MutualFundsSahiHai #SaarthiZarooriHai @bsindia @livemint @ET_Wealth (1/3)
This will ensure to employ better #RiskManagement systems at scheme & AMC level, ensure better responsibility while purchasing & liquidating a security & thus lower instances of defaults & downgrades. #MutualFundsSahiHai #mutualfunds #SaarthiZarooriHai @livemint @bsindia (2/3)
#Investors should recall current #economic condition where the spate of downgrades & defaults are expected to rise, it is important to be extra-cautious while making #Investment in #debt #mutualfunds. Remember #SaarthiZarooriHai #PlanZarooriHai @livemint @ET_Wealth @bsindia (3/3)

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More from @vaid_varun

Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
29 Sep
Name Clarity on Nomenclature for MFDs as per best of our ability & interactions with some legal experts.
MFDs still can consult legal experts for any further clarity or doubts. @cafemutual @bsindia @livemint
@wealthforum_tv @ETNOWlive @ArthmitraG @FinancialXpress (1/4)
Objectionable:

1. XYZ Adviser/ Advisers
2. ABC Advisor/ Advisors
3. XYZ Financial Advisors
4. ABC Investment Advisors
5. XYZ Wealth Advisors
6. ABC Wealth Manager
7. XYZ Wealth Managers
8. ABC Financial Advisory
9. XYZ Wealth Advisory
10. ABC Investment Advisory (2/4)
Names where obections may be raised:

1. ABC Wealth Management
2. XYZ Investment Management
3. ABC Investment Consultants
4. XYZ Wealth Consultants (3/4)
Read 5 tweets
Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
24 Sep
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
Read 4 tweets
Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
2 Sep
To protect the #interest of #investors & to enhance transparency @SEBI_India has revised much awaited disclosure norms pertaining to transactions in #debt & #money market #securities by #mutualfunds. @fifaindiaorg @bsindia
@OutlookMoney #SaarthiZarooriHai #PlanZarooriHai
W.e.f 1.10.2020 these disclosure details will be required in new format -

1. Name & type of security
2. Credit Ratings
3. Name of the rating agency
4. Maturity date
5. Settlement date
6. Interest accrued & yield
(2)
7. Information like rating of the security at the time of transaction, whether the security is listed, put/call option date, yield at which the security was traded, type of trade (inter scheme transfer/primary/secondary market, etc.)
(3)
Read 7 tweets
Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
4 Aug
Request @SEBI_India to look into these 2 RIAs both offering as plans. Orowealth is even showing comparison between Savings Account vs Liquid Fund vs Amazon Save & Shop. It seems they are in direct violation of code of conduct of RIAs. @harshroongta @monikahalan @SureshSadagopan ImageImage
Request @aria_india to also have a look though these 2 are not members of your association but being RIAs are doing unethical practice. It is a matter of great concern for other RIAs as well. @bsindia @livemint @DainikBhaskar @CNBC_Awaaz @networkfp @cafemutual @businessline
After reading the article bit.ly/31i6nnX @livemint by @ActusDei ; we can suggest #investors that: Don’t fall for the promise of indicative or exorbitant or assured returns by RIAs or MFDs. Don’t let greed overcome rational #investment decisions. (1/2)
Read 4 tweets
Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
11 Jul
Couple of days back office of #MutualFund house was closed in #Chandigarh as one of the employees at a senior position was tested positive for #COVID19 & also 2 of his family members. The risk is high #AMCs, #RTAs & #MFDs must take ample precautions. @amfiindia @fifaindiaorg
(1)
Request all #MFDs to do all transactions in digital mode. Request @amfiindia to ensure that all those requests that are to be submitted physical some digital alter must be opted for. In the interest of #AMCs, #RTAs, #MFDs & #Investors some solution must be thought. (2)
Request @NileshShah68 to kindly look into the matter. As per our understanding the amicable solution to this is taking scan copies of the documents or hard copies can be collected outside the office premises of #AMCs, #RTAs or #MFDs!! @ananthng @Sanjay_69 @klash233 @dhirendra_vr
Read 4 tweets
Varun Vaid (वरुण वैद | ਵਰੁਣ ਵੈਦ) Profile picture
1 Jul
All categories of #mutualfunds (including ETFs) would be covered under #stampduty charges for units issued in demat & non-demat form. It will cover equity, derivatives & currency trades. Stamp Duty = Direct Tax levied by the govt. u/s 3 of Indian Stamp Act, 1899. @AmarUjalaNews
#StampDuty charges:

Equity (delivery) - 0.015% or ₹1,500 per crs on buy-side

#Equity (intra-day) - 0.003% or ₹300 per crs

#Futures (equity & #commodity) - 0.002% or ₹200 per crs

#Options (equity & commodity) - 0.003% or ₹300 per crs

#Currency - 0.001% or ₹10 per crs
- The #stampduty will also be applicable on #AlternativeInvestmentFunds (AIFs)

- Impact is more on the short term #investments by the #investors

- No stamp duty on #redemption of #mutualfund units.

- Impact at #portfolio level too i.e when fund manager executes transaction.
Read 7 tweets

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