Seen some fantastic stories on the mutual fund industry. There is only one problem, you cannot drill down from the story…if you do that, you will quickly find ‘page not found’.
See some typical terminology
‘There is rampant mis-selling in the mutual fund industry – and this should stop’. So out of sheer curiosity you drill down and ask:
– who said there is mis-selling?
A: everybody says there is mis-selling why do I have to specifically say who is mis-selling.
Q: What is mis-selling?
A: everybody understands what is mis-selling, why does it have to be told separately?
Q: yes, but can you define it?
Q: Can you explain it?
A: Of course! If people have been cheated it is mis-selling.
Q: Last 3 years return on a fund is 24% p.a. while it is 8% in PPF. So you should invest in Equities. Is this a fair pitch?
A: Of course yes. It is true is it not.
Q: will the client get 24% over next 3 years?
A: Maybe…why not? If not 24% he WILL get at least 17-18%…so it is not mis-selling.
Q: How many active distributors are there in India selling mutual funds?
A: I do not know but Mr. Sinor told me that 41,000 active agents are there in the mutual fund industry.
Q: Vow! that is great….well, er, ‘what is an active agent?’
A: a person who is selling mutual funds…
Q: selling means?
A: registered with a fund house.
Q: well, er, does registered means active?
A: how many times do I have to say YES.
Q: So how have you arrived at this figure of 41000?
A: well I added up …those registered with Reliance, UTI and Hdfc …
Q: what about double counting?
Q: If a person has done Kyd, and gets at least one cheque a month from FRESH SALES he is active…is that your definiton..?
A: I must go Subra there is a call…but I promise to call you back…bye….
Post Footer automatically generated by Add Post Footer Plugin for wordpress.