Making Future Safe, Secure & Bright @ Master Mind FinnAsset
Mar 6 • 4 tweets • 5 min read
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
Feb 28 • 6 tweets • 9 min read
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)
#Investors should avoid knee-jerk reaction as the investigation is still underway & @AxisMutualFund has already sacked the concerned officials from their responsibilities.
Impacted #mutualfund schemes (image enclosed) haven't been recommended by us at #MasterMindFinnAsset (1/n)
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
Nov 25, 2021 • 6 tweets • 11 min read
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'
We have maintained our stand since the very begining that @FTIIndia has not committed fraud, No scam, no #investment has been made in junk bonds, not committed a crime. We still stand by the same. (1/n) #franklintempleton#mutualfunds#investments#DebtFunds#DebtMutualFunds
Payments are even coming from those securities whom naysayers claimed are junk bonds, which we told was not the case but these #investors were being mislead by them & even now they are trying to prove their mischevious intentions. Ultimately Action Wins, not noise. (2/n) @bsindia
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
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
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)
Jul 1, 2020 • 7 tweets • 12 min read
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
#Indian citizens should understand who is polarizing by playing communal agendas, talking trash in debates, favoring agenda of a particular political party - instead of asking tough questions to the governing party, they only focus on opposition. Think Unbiasedly & Ethically !!
Feb 26, 2020 • 4 tweets • 5 min read
Liquid #mutualfunds generated 6.32% returns in Jan - Dec, 2019 & 4.74% returns for ongoing FY 2019-2020.
@quantmutual & @FTIIndia funds have managed to outperform the benchmark index. For long tenure of 2 & 3 years, all schemes have beaten the benchmark & category avg. returns.
To reiterate, liquid funds are not risk free. Keep in mind that when you approach for #mutualfunds, returns should be secondary. Therefore, do not go after #LiquidFund that has a high credit risk exposure. Do not #invest solely based on past returns.
Feb 24, 2020 • 4 tweets • 3 min read
@SEBI_India is again looking at relaxing reclassification of #mutualfunds by expanding the ambit of #mutualfund categories. Widening large & mid cap list would provide fund managers better choice in #portfolio construction & bring in more liquidity into the mid cap space.
As per media reports, large cap funds may be redefined to include top 125-150 stocks. Mid cap funds could include the next 200 stocks, while the rest could be included in small cap funds. This might help in reducing polarisation currently seen in equity markets. @cafemutual