I could have also called this ‘Mutual Fund and the Common Man’. This is a blog that is being written as a genuine feedback from IFAs and customers.
1. A good fund manager is a must: Only because a fund house has a good fund manager are clients coming to them.
2. However, having a good fund manager should not be the reason why the back office of an Asset management company (mutual fund as people call them) should be arrogant.
3. The fund statements are too complicated – especially if they are summarized. Even detailed statements do not show the IRR of the scheme FOR THE PARTICULAR CLIENT. Not logical at all.
4. Why does the fund house not send an ANNUAL statement of booked capital gains – afterall they have the purchase price, sale price, dates of the transaction – cannot this be automated?
5. Why do mutual funds send such complicated emails – and in many cases the files do not open. GRrrrrrrrrrrrrrrr.
6. For long running mutual funds, whey do they not send an annual summary with following details : year, amount invested, the market value of the investment, and IRR – for SIPs that are 3 years and older?
7. If banks can give us such detailed statements, why cannot Mutual funds give us an E-access to our statements so that we can see it in which ever format we WANT?
..CAN go on and on….but will stop…
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