When the mutual fund industry was groaning about the ban on entry loads, the sounds seemed genuine, but not any longer! Why do companies start a mutual fund (big houses in other financial products) we assume they do this to earn money, correct? Well I am not so sure now. The latest giga offer I [...]
One participant in one of my classes asked me does ECS stand for Easy Convenient Stupid method of payment? I did not know what he meant. Here is his story. Normally people think it is convenient to use the ECS method of payment. Like always this is normally the case. This reader had used ECS [...]
This is an amazing first hand story in the brokerage business. Once upon a time not long ago I happened to be associated with a stock broker who was the 3rd generation stock market broker. He was the Chairman of a brokerage company which we had floated to become a member of the National Stock [...]
Authentic customer statement. Of course I would not have been surprised or shocked if my driver or maid servant had made this statement. It was made by a bureaucrat – obviously by now you know in which ministry! Do not wish to talk about this person, but it is really amazing how the people who [...]
Some amusing incidents… A friend who heads wealth in a big branded organisation was sitting in his office…and I was one of the persons in the room when this happened. We were having coffee when his immediate assisstant came asking him to come along for a meet. My friend said all the right words..You must [...]
FMPs have had a great relationship with Asset management companies and with the investors. Fixed Maturity Plans (FMPs) were initially instruments which were mutual funds with ‘banklike’ products. You could buy a FMP with maturity ranging from 30 days to 180 days. Then a couple of FMPs were launched with 300 days maturity, then 366 [...]