RETIREMENT PLANNING Killol Karia OUR SERVICES … · banking sector stocks, we invest in stocks or...
Transcript of RETIREMENT PLANNING Killol Karia OUR SERVICES … · banking sector stocks, we invest in stocks or...
which is in alignment with your notions, while ignoring the rest. Try to look at contradictory viewpoints, consult your financial advisor, he/she will show you the right path.3. MENTAL ACCOUNTING BIASMental Accounting Bias is the tendency to mentally categorize money into different mental accounts based on their source or on the basis of it's intended use, and then treat the money in different categories differently. For Example, you had set aside a R500 note last month for buying yourself a book, but then today when you open your cupboard, you find that you have lost the note. You are sad and decide you'll not buy the book. Normally, had you 'not' dedicated this note to the book, and would have lost R500 in the usual course, the book purchase might not have been affected. This is simple case of Mental Accounting Bias.Similarly, people take investing decisions based on the mental accounts they have created. For instance, in case of sudden inflow of money like bonus or inheritance received, people tend to be irrational in their decisions compared to when the source is their monthly salary. Or say you have kept an FD for your vacation and at the same time you are paying a massive interest on your credit card bill outstanding. Logically you should break the FD to pay the loan since you are getting 7% and paying 25%, but you don't do so, since you have created a mental account for that money in your mind. We must understand here that money is fungible in nature, the value is the same irrespective the source or the outlay. Hence, you must be careful of such mental accounts and the impact they may have on your investing decisions. 4. FAMILIARITY BIASAt times our investing decisions are based on our connection or comfort with the product we are investing in. People working in banks often purchase their employer's stocks or banking sector stocks, we invest in stocks or sectors because we have researched a lot on this stock/sector and believe in it, and the like. Because of this bent towards our familiar options, we are restricting our investment horizon. There is a universe of investment products available out
there, and we must choose the best from the lot. 5. LOSS AVERSION BIASThe most common one, we fear the possibility of loss, and we are just not prepared to let go our money, under any circumstance. We hold on to the poor performers because we do not want to book losses, in fact we purchase more of the same infertile stock/mutual fund to average out the cost and cover up the losses that we have made. You have to accept the fact that a bad decision was made, book losses and move on. Our strength is tested in volatile times, when we see our investments falling. It's up to us, we can either fall prey to the bias, sell our investment to avoid losses; or we can do what we are ought to do, that is avoid the noise and hold the investment for it is for our long term goals. 6. BANDWAGONAs the name suggests, we have this uncontrollable urge to order what the people on the other table are eating. We often extend the urge to our investing decisions also, we feel other people are making money because they made better choices, we feel we are missing out on some information that they may have, it's a typical case of FOMO (Fear of Missing Out), and it can have disastrous repercussions. Every individual is unique in terms of his/her financial standing, goals, needs, priorities, risk appetite, so how can the investing process or products be similar? Hence, you must always be mindful that investing is not about making more money by following your neighbour, rather it's about gratifying your unique goals and needs. To conclude, a large number of times, we follow our emotions, inclinations tend to influence our day to day decisions. Without realizing, you might have fallen prey to biases, while investment decision making. They say “The one who has mastered his emotions is mightier than one who conquers a city”, it is inordinately applicable to investing, we must always stick to the fundamentals and follow our masterplan religiously. And your financial advisor is there to help you overcome these cognitive biases, to show you the mirror whenever your decisions are clouded by your emotions.
NOVEMBER 2018For private circulation only
BEHAVIORAL BIASESIN INVESTMENTDECISION MAKINGInvesting should be based on research, rules, principles, set guidelines and procedures; these are the pillars which set the foundation of successful investing. Emotions like fear, excitement, gut feeling, greed, desire, etc., should have absolutely no role to play in making investment decisions. But the reality is far from ideal, because when emotions come to play, we normally, immediately let go of all the logics and fall prey to our emotions.The irony is, we usually know that investing is about principles, asset allocation, goals, risk and return tradeoff. We read, we hear, and that's how we become investors, but then here the underlying subject is money and we are emotionally attached to money. Often, we don't even know if we are letting our emotions dictate our financial decisions. It is said that the biggest enemy of an investor is his own emotions. And the biggest investing mistakes committed by investors are triggered by their own behavioural biases. So, in this passage we have brought for you the most common behavioral biases that investors often fall victim to, how these biases manifest and you can avoid/correct for them.
1. ANCHORINGAnchoring is quite a common cognitive bias witnessed among investors, which means basing investment decisions on an initial piece of information. This initial information serves as the starting point, which we adjust, to arrive at investment conclusions. Say for instance, you bought a stock of XYZ co., in the month of January at R100, at the end of May the stock went upto R130, then the top management changed, and by October the stock came trotting down to R90. Now, you are holding on to the stock hoping it will again rise upto R130, then only you will sell to book the profits. In this case, you may be clinging onto the anchor. Buy, sell or hold decisions must be on back of fundamentals, and not on previous highs or lows. Don't let perceptions or experiences, good or bad, clout your judgment ability, a past bad experience with equity, doesn't direct the future, it's the rudiments of the product that matter in the long term.
2. CONFIRMATION BIASAnother product of extending our beliefs and preconceived notions to our decision making process is Confirmation Bias. For instance, you are really looking forward to the launch of the new Honda Civic for your next car upgrade, you have read good reviews about the car, the sunday car shows are talking about the Civic, all the blogs you read people have written good things about the car, etc. All the information seems to be in the affirmative, so now you firmly believe that you have made the right decision. But have you ever thought that it is only because you are reading selective reviews and blogs. Probably you have subconsciously ignored contradictory views and negative reviews or skipped reading good things about other cars in the segment. In short, we are all ears to information which supports our beliefs, while filtering out everything that does not fit into our comfort zone. And when this tendency is extended to finances, it dilutes the investment decision making process. You may be looking at only that information
GOLD
PROPERTY
FD
FUND
BOND
STOCK MARKET
OUR
SERV
ICES
INVE
STM
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OPTI
ONS
MUTUAL FUNDSLIFE INSURANCEGENERAL INSURANCETAX SAVING & RBI BONDS
RETIREMENT PLANNINGCHILD EDUCATION PLANNINGINSURANCE PLANNINGTAX PLANNING
FINANCIAL PLANNINGNRI INVESTMENT PLANNINGCHARITABLE TRUST INVESTMENT PLANNING
Email: [email protected] | Website: www.kkcredible.com
Killol Karia
Centre Point, Karansinhji Road,Chamber Of Commerce Building,Rajkot - 360 001, Gujarat.
Mob.: 98240 19123Tel.: 02812223177
which is in alignment with your notions, while ignoring the rest. Try to look at contradictory viewpoints, consult your financial advisor, he/she will show you the right path.3. MENTAL ACCOUNTING BIASMental Accounting Bias is the tendency to mentally categorize money into different mental accounts based on their source or on the basis of it's intended use, and then treat the money in different categories differently. For Example, you had set aside a R500 note last month for buying yourself a book, but then today when you open your cupboard, you find that you have lost the note. You are sad and decide you'll not buy the book. Normally, had you 'not' dedicated this note to the book, and would have lost R500 in the usual course, the book purchase might not have been affected. This is simple case of Mental Accounting Bias.Similarly, people take investing decisions based on the mental accounts they have created. For instance, in case of sudden inflow of money like bonus or inheritance received, people tend to be irrational in their decisions compared to when the source is their monthly salary. Or say you have kept an FD for your vacation and at the same time you are paying a massive interest on your credit card bill outstanding. Logically you should break the FD to pay the loan since you are getting 7% and paying 25%, but you don't do so, since you have created a mental account for that money in your mind. We must understand here that money is fungible in nature, the value is the same irrespective the source or the outlay. Hence, you must be careful of such mental accounts and the impact they may have on your investing decisions. 4. FAMILIARITY BIASAt times our investing decisions are based on our connection or comfort with the product we are investing in. People working in banks often purchase their employer's stocks or banking sector stocks, we invest in stocks or sectors because we have researched a lot on this stock/sector and believe in it, and the like. Because of this bent towards our familiar options, we are restricting our investment horizon. There is a universe of investment products available out
there, and we must choose the best from the lot. 5. LOSS AVERSION BIASThe most common one, we fear the possibility of loss, and we are just not prepared to let go our money, under any circumstance. We hold on to the poor performers because we do not want to book losses, in fact we purchase more of the same infertile stock/mutual fund to average out the cost and cover up the losses that we have made. You have to accept the fact that a bad decision was made, book losses and move on. Our strength is tested in volatile times, when we see our investments falling. It's up to us, we can either fall prey to the bias, sell our investment to avoid losses; or we can do what we are ought to do, that is avoid the noise and hold the investment for it is for our long term goals. 6. BANDWAGONAs the name suggests, we have this uncontrollable urge to order what the people on the other table are eating. We often extend the urge to our investing decisions also, we feel other people are making money because they made better choices, we feel we are missing out on some information that they may have, it's a typical case of FOMO (Fear of Missing Out), and it can have disastrous repercussions. Every individual is unique in terms of his/her financial standing, goals, needs, priorities, risk appetite, so how can the investing process or products be similar? Hence, you must always be mindful that investing is not about making more money by following your neighbour, rather it's about gratifying your unique goals and needs. To conclude, a large number of times, we follow our emotions, inclinations tend to influence our day to day decisions. Without realizing, you might have fallen prey to biases, while investment decision making. They say “The one who has mastered his emotions is mightier than one who conquers a city”, it is inordinately applicable to investing, we must always stick to the fundamentals and follow our masterplan religiously. And your financial advisor is there to help you overcome these cognitive biases, to show you the mirror whenever your decisions are clouded by your emotions.
THREE PILLARS OFFINANCIAL PLANNINGYour financial plan revolves around your life aspirations or goals, and helps you manage your finances in a way that you are able to achieve these goals when they come. Your financial plan:Defines your goals in numbers, that is in terms of time and money. Your goal to live a peaceful retirement would be the need to have “R5 Crore in 25 years” in your financial plan.Breaks your aspirations into short and long term, your next year's vacation will be categorized as a short term goal and retirement will be categorized as a long term goal. Lays down a roadmap through which you can achieve these goals. Where to invest, How Much to invest, When to invest, lies at the center of the plan, to ensure a timely achievement of your goals.So basically, your financial plan gives you a broad view of your life and the position of each of your goals in it, you get a sense of direction while taking financial decisions, since you can analyze the impact of the decision on your life goals. Hence, having a sound financial plan is of prime importance, for living a financially sorted and worry free life. In this article we have highlighted the three key elements or the pillars of a financial plan, which will serve as guidelines for you while doing your financial planning. These pillars are: Time, Investment and Insurance.
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1. TIME:
To begin with, the first pillar, Time. Financial Planning on-marked at the start of the accumulation phase of life, gives you the leverage of time. The longer the horizon, the higher the chances of a successful financial plan, the lesser the horizon, the more limited you become and might have to compromise on your goals. So, it's ideal to start financial planning at the beginning of your career, no matter how humble the beginning is. Carve a part of your income for your future, from the time you start earning, you can start with an amount as small as R500 or R1,000 a month, and increase gradually as income increases. It's impor-tant to start early, so that you are able to dedicate more of your present income towards a stronger and secure future.
2. INVESTMENT:
You may have income, you may have time in hand as well, but even time and income put together as detailed above, may not be adequate to make the most of your surplus income.
Generally, we save money from our limited incomes and then invest. But how do we decide the amount and the avenue? On what basis do we invest R50,000 in an FD, R1 Lac in Gold, R50,000 in insurance, etc.? What purpose are these in-vestments going to serve? Are the poten-tial returns from the investments enough?
To make the most of your saving, the following step, investing, must never be random.
Our investment must follow our ideal asset allocation. Asset allocation forms a very crucial part of overall financial planning. There are a number of parameters that must be cared for while defining our ideal asset allocation, because different asset classes and investment products carry different risk and return characteristics. The asset allocation must take into consideration our goals, the time left for our goals to arrive and our risk profile.
The investment product selection must aim at getting maximum returns while remaining within the boundaries of our asset allocation.
Your financial advisor has a big role to play in helping you
arrive at your ideal asset allocation as well as in choosing
the best investment products by narrowing down from the
universe of options available.
3. INSURANCE:
The third pillar holding the financial plan up high is Insurance. Even when you have time in hand and your investments in place, an unfortunate event can wreck the entire financial plan, if not adequately covered by insurance. Hence, risk protection comes before return generation. Life is unpredictable, you don't know what's in store for you. You may continue to earn and thrive, and achieve your life goals with your income and investments, or you may lose all you have, including your
investments to an emergency, thus jeopardizing your life goals and your financial plan. The idea behind insurance is securing financial assurance against the unpredictable nature of life, by insuring against all visible risks.
To strengthen your financial plan, you must secure yourself and your family with adequate:
Health Insurance: Medical costs are continuously soaring, one medical
emergency or a critical disease in the family can gulp down all your investments and
assets. Hence, you need to have an adequate health plan to provide for the gigantic hospital and medicine bills, while protecting your invest-ments and assets for their intended purpose.
Life Insurance: Your investments are for your life goals, your kids' wedding,
education, your dream house, your peace-ful retirement life. But what if, you don't
survive to see your dreams coming true? Will all these dreams remain unfulfilled? No you would not
want that, you would want your family to live the dreams that you concocted together. It will be possible if your family has the resources to survive and the investments you made for the goals remain intact. An adequate term plan will ensure that your family lives the quality of life as planned, even in your absence, and they don't have to sacrifice their life goals.
To conclude, your financial plan converts your dreams into reality, by helping you manage your finances, your savings and investments better. And the power of three: Time, Investments and Insurance are the base of any financial plan, the stronger these elements are, the powerful your plan is, the simpler your will life be. However, developing a finan-cial plan is an equally complex and critical task, because it's only when the plan is strong and free from flaws it'll be able to serve it's purpose. So, having the support of a good financial advisor can be boon for your financial planning, his knowledge, professionalism and experience, can add great value in your financial life.
1. What are your views on the recent carnage in the equity markets?
Answer: Recent steep fall in indices is more of a reaction to strength in crude, stretched valuations across sectors and massive liquidity surge seen in the equity markets in recent times. With crude rising above $80/bbl, there is a massive fear of India missing its fiscal deficit targets, increasing inflation and slowdown in economy. This coupled with drying up of liquidity in certain segments in debt market lead to a massive blow out in equity markets
2. How do you assess the current situation of ? What impact earnings do you see going forward?
Answer: The current situation does not alter the long term growth thesis of above 8% GDP growth in Indian economy. This growth along with increased saving and channelization of these savings in financial assets should provide a spurt to the overall up move in financial markets.
Of the factors affecting the current situation, the key determinant of earnings going forward would be the levels at which crude stabilises at. With India importing 80% of its crude (3 million barrels per day of crude oil), resulting in a sensitivity of 40 basis points on GDP for every $10/bbl move in oil. We do not see a major impact to earnings growth of close to 20% CAGR over the next two years unless there is a major up move in crude.
3. How do you manage the volatility in your funds? How did you manage /limit the impact of market in your funds?
Answer: As a fund house we don’t take cash calls but we manage volatility in our funds by investing in low beta stocks.
We have managed to limit the impact of market in our funds by adhering to our framework of holding well researched, liquid and quality stocks in our portfolio.
4. How do you make buy and sell decisions for the stocks in your funds?
Answer: We have a well-documented investment philosophy backed by rigours research which forms a backbone of our buy and sell decisions in our funds.
We invest in stocks where we have already done our research in terms valuations, business dynamics and market scenario.
5. How do you assess the valuation of different segments in the markets? With heavy corrections in the mid-small cap stocks, is the segment now attractive?
Answer: Valuation of certain segments like Media, export oriented sectors, private banks and selective gas stocks have reached attractive levels while certain segments like NBFC’s have still some froth left.
The fall gives us an opportunity to buy quality mid-small stocks available at reasonable valuations. We see reasonable buying opportunities in mid cap stocks in the above mentioned sectors
6. What is your outlook from the markets and what would be your advice to the existing as well as new investors in equities?
Answer: Outlook for the markets from here on continues to be bullish. From consumption to construction, India remains one of the only markets with cyclical growth still on the up cycle. Along with this, certain macro data indicators like Inflation, GDP and IIP also point to a healthy outlook.
Going forward, markets are expected to benefit from good earnings growth, a pickup in capital expenditure, decent monsoon, limited exposure to trade wars and upcoming festive season.
Advice to existing and new investors in equity would be to maintain or increase their asset allocation to equity markets but be selective in stock picking and avoid companies affected by high leverage, changing government regulations and global linkages.
FUND MANAGER INTERVIEWS
Mr. Viral BerawalaChief Investment Officer, Essel Mutual Fund
Viral Berawala is the Chief Investment Officer at Essel Finance AMC Limited. Previously, he has worked with Reliance Nippon Life Insurance Company Limited as Chief Investment Officer for about 5 years where he was responsible for a total asset size of USD 2.9 Billion.
Prior to that, he worked at Reliance Capital AMC as an assistant Fund Manager, for the Reliance Equity Opportunities and the Reliance Tax Saver Fund. As an analyst, he has worked in IT, Oil & Gas, Real Estate and Retail sectors.
Prior to that Viral worked for over 7 years in TCS in Corporate Finance as well as technical roles. Viral comes with over 18 years of experience in the Financial Services and Information Technology sectors. Viral is a Chartered Accountant and a PGPX from the Indian Institute of Management, Ahmedabad.
Disclaimer: The information herein below is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The document has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. The sponsors, the Investment Manager, the Trustee or any of their directors, employees, affiliates or representatives (‘entities & their affiliates”) do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Entities & their affiliates including persons involved in the preparation or issuance of this material, shall not be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including on account of lost profits arising from the information contained in this material. Recipient alone shall be fully responsible for any decision taken on the basis of this document.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY
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SIP RETURN AS ON 31ST OCT 2018
Starting - November Month of
Years
Invested Amount :
Schemes (Diversified Equity)
2017
1
1,20,000
2015
3
3,60,000
2013
5
6,00,000
Returns % - CAGR
2011
7
8,40,000
2008
10
12,00,000
2006
12
14,40,000
Mutual Fund's AUM rises 14% to `24 lakh crore in Sept quarter
Mutual fund's asset base rose to over `24 lakh crore in July-September quarter, a 14 per cent surge from the year-ago period, driven by participation from retail investors and a spirited investor awareness campaign by the industry. The asset base of the industry, comprising 41 players, was `23.4 lakh crore in the preceding three months, showing a growth of just 2.5 per cent on quarterly basis, according to the data by Association of Mutual Funds in India (AMFI). The total asset base of all the fund houses put together was `21 lakh crore in July-September 2017. Industry experts attributed year-on-year growth to strong participation from retail investors, especially from the smaller towns. Besides, investor awareness campaigns by the industry and phenomenal growth in systematic investment plans also helped in the growth of assets under management. The industry has been witnessing evolved behaviour from the retail mutual fund investors, as despite the continued market volatility, the equity in�ows into markets continue to be robust. Further, systematic investment plans continue to be the fancy of retail investors, as it allow investors to invest in small amounts periodically, it also helps in rupee cost averaging.
Despite volatility, SIPs in�ows at all time high
The latest AMFI data shows that the mutual fund industry has been receiving an average monthly in�ow of `7,650 crore through SIPs. This is the average monthly in�ow of three months for the period July to September 2018. In the preceding quarter, i.e., between April and June 2018, the average monthly SIP in�ow was `7,182 crore. In September alone, the monthly in�ows in mutual funds through SIP reached an all-time high of `7,727 crore. Another good news for the mutual fund industry is the increase in the SIP accounts. Mutual fund SIPs accounts stood at 2.44 crore in September. AMFI data shows that the MF industry had added about 10 lakh SIP accounts each month on an average during the FY 2018-19, with an average SIP size of about `3,200 per SIP account.
NEWS UPDATE
-13.03-11.57-12.59-8.39-5.10
-17.29-18.02-21.45-9.19
-18.26-8.95
-13.74-19.14-17.98-3.58-9.20
-22.20-14.72-19.23-12.80-19.40-13.01-10.25-7.32
-25.57-15.69-25.30-8.37
-24.62-6.85
-38.97-17.70-9.76
-11.01-19.67-16.22-10.61-15.85-18.64-23.04-10.18-26.93-13.40-2.77-7.59-8.12
-22.13-9.43
-14.890.39
-38.97137
-13.88-9.55
-22.58-16.45-29.13-5.96
-14.55-17.33-10.25-11.69-19.66-5.19
-10.10-17.23-10.13-15.31-10.40-12.83-10.14-6.67
-20.65-14.84-24.58-13.49-20.13-15.63-9.33
-12.90-12.53-14.27-5.19-29.13
29-3.12-5.44
8.694.172.34
11.9111.313.800.425.08
11.968.216.949.714.204.97
11.036.899.646.581.684.612.448.337.115.91-2.985.60
10.2110.341.969.59-5.778.314.974.852.887.912.702.874.782.674.89-1.204.879.898.107.241.786.265.8114.54-5.77137
8.338.740.902.593.578.455.693.355.336.783.817.686.508.468.757.036.338.927.86NA
7.149.12-0.213.642.776.12
10.292.825.305.9610.29-0.21
289.888.62
NA6.303.8318.3713.437.89NANA
12.3914.538.8012.3010.889.5612.178.7617.6110.086.099.116.5512.0610.828.516.9211.0919.6112.6110.729.356.2913.178.637.189.8212.525.175.407.957.455.57NA
7.579.909.778.819.587.069.8519.612.37126
12.4812.115.216.967.529.4010.467.259.438.798.0510.0110.8611.4511.7610.2510.1511.759.46NANA
11.926.397.107.6111.1811.034.758.049.3612.484.7527
8.658.33
NA9.156.8022.9816.25
NANANA
13.3519.4011.3915.5115.8412.7614.6112.3023.3412.979.7212.899.4414.6014.3411.0914.6014.6224.3414.3115.9910.6913.1516.2512.039.8515.2916.347.668.4410.6810.558.15NA
10.3310.9912.5011.1516.269.50
13.4524.343.07122
15.9616.738.9411.2710.9911.7114.2010.8313.0111.8811.8513.63
NA14.8715.0413.3112.4314.0212.03
NANA
15.2912.1510.9610.6714.2912.34
NA10.7412.8216.738.9425
10.049.89
NA9.607.50NA
16.95NANANA
13.0519.3612.0114.7015.8912.8514.2414.74
NA13.1510.0713.299.2717.5614.2011.8815.9413.79
NA13.0717.0310.0013.7315.8812.7210.8215.9315.618.089.8011.9411.21
NANA
10.8911.3913.4511.5217.4511.3313.8821.607.50106
15.21NA
9.4512.76
NA12.7814.57
NA14.2012.7012.6214.86
NANA
15.5712.0112.2814.3311.48
NANA
14.6113.8511.7210.7714.5612.18
NA11.0013.0915.579.4521
10.0510.00
NA8.836.97NANANANANA
12.04NA
11.4812.65
NA12.25
NA14.18
NA12.879.5312.168.6815.8513.1411.2913.7712.15
NANA
15.989.2413.1714.9911.6010.4914.4012.877.178.9811.5010.97
NANA
10.0211.5413.0010.9516.0511.6312.4019.246.9781
13.62NA
8.6411.26
NA12.78
NANA
13.6012.16
NA14.00
NANANANA
10.9713.6710.14
NANA
12.5213.2010.8810.3113.3311.99
NA10.0612.0314.008.6417
9.259.29
SIP RETURN AS ON 31ST OCT 2018
Starting - November Month of
Years
Invested Amount :
Schemes (Diversified Equity)
2017
1
1,20,000
2015
3
3,60,000
2013
5
6,00,000
Returns % - CAGR
2011
7
8,40,000
2008
10
12,00,000
2006
12
14,40,000
India jumps 23 spots to 77 in World Bank's ease-of-doing-business rankings
India jumped 23 places to come in at the 77th spot in the World Bank's latest ease-of-doing-business global rankings in 2018, a year after it had jumped 30 places. The World Bank’s ‘Doing Business 2019: Training for Reform’ report, showed India's rank in ease of doing business jump up from the 100th place among 190 countries. India had broken into the club of 100 nations easiest to conduct business in last year when it managed to jump 30 places from the 130th position. India has been adjudged the �fth-best performing nation in reforming the business environment. The country improved its rankings in six of the 10 sub-categories used by the World Bank to judge business climate.
Manufacturing PMI up at 53.1 in Oct on new business orders, employment push
The country's manufacturing sector activity improved in October, as �rms scaled up production and employment levels amid strong rise in new business order �ows, a monthly survey said. The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months. This is the 15th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
India Inc foreign borrowing halves to $41.71 bn in Sept, Jio gets $500 mn
India Inc's foreign borrowing more than halved to $1.71 billion in September, data from Reserve Bank showed. The Indian �rms had raised $3.48 billion by tapping resources overseas such as external commercial borrowings (ECBs) and rupee-denominated bonds (RDBs). Of the $1.71 billion raised in previous month, $1.21 billion was through automatic route while $500 million came in via approval route. In a break-up, billionaire Mukesh Ambani owned Reliance Jio Infocomm Ltd
raised $500 million for rupee expenditure through the approval route.
IMF retains economic growth projection for India at 7.3% for FY19
The International Monetary Fund (IMF) retained economic growth projection for India at 7.3 per cent for 2018-19 (FY19), lower than the government’s and the Reserve Bank of India’s (RBI’s) forecasts. This is, however, noteworthy as the IMF cut global growth projections by 0.2 percentage points. In its World Economic Outlook (WEO), the IMF said foreign exchange interventions should be limited to address disorderly market conditions, something which RBI Governor Urjit Patel also talked about. The IMF wants the RBI to tighten monetary conditions, something which it did not do in the October policy review. For the next year (FY20), the IMF lowered India’s growth projections by 0.1 percentage points to 7.4 per cent. India will continue to be the fastest-growing major economy as China’s growth projection was retained by the IMF at 6.6 per cent for FY19. For FY20, the Chinese economic growth rate was cut by 0.2 percentage points to 6.2 per cent.
India and US bilateral trade rises 119% since 2007 at $126.2 billion
Bilateral trade of goods and services between India and the US has gone up by 119 per cent since 2007, touching $126.2 billion, according to the data collated by the o�ce of the United States Trade Representative (USTR). According to the data, exports were valued at $49.4 billion and imports were worth $76.7 billion. The US goods and services trade de�cit with India was $27.3 billion in 2017. The data comes at a time when the two nations are locked in a trade war. The US goods trade de�cit with India was $22.9 billion in 2017.
India's steel demand expected to be back on higher growth track
India's steel demand is expected to move back to a higher growth track as the country recovers from "twin shocks of demonetisation and GST implementation", global industry body World Steel Association (worldsteel)
said. In its October 2018 Short Range Outlook, worldsteel said it projects global steel demand at 1,657.9 million tonnes (MT) in 2018, an increase of 3.9 per cent over 2017. The demand for steel in the developed world remains healthy, while in the developing countries steel demand will continue to recover amid challenges.
Telcos begin rolling out alternate digital KYC process for new connections
Large telecom operators including Vodafone Idea Ltd and Bharti Airtel have begun rolling out an 'alternate digital KYC process' for new connections, which will replace Aadhaar-based electronic veri�cation process. Reliance Jio sources indicated that the operator has a plan on alternate digital KYC and will roll it out soon. However, it is not immediately clear if telecom service providers are, for now, continuing Aadhaar eKYC for veri�cation of new subscribers. The Supreme Court had in a landmark verdict in September restricted the use of Aadhaar by private entities in the absence of a legal provision. On October 26, the telecom department asked operators to stop using Aadhaar for electronic veri�cation of existing mobile phone customers as well as for issuing new connections to comply with the SC order.
Share of generation to fall to 30% in new power sector investments
The share of generation segment in fresh power sector investments in the future is set to fall to 30 per cent over the next �ve years. A report by CRISIL Research estimates that power sector will attract Rs 9-9.5 trillion new investments from FY19 to FY23. While the share of generation (excluding renewables) in the projected investments will be substantial, it is expected to fall to 30 per cent compared to 51 per cent share which the segment had in the previous �ve years. Power sector investments would be fuelled by transmission and distribution sectors that would have a share of 36 per cent and 34 per cent respectively.
LIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - GrLIC MF Multi Cap Fund - GrMirae Asset Emerging Bluechip Fund - GrMirae Asset India Equity Fund - GrMotilal Oswal Focused 25 Fund - GrMotilal Oswal Midcap 30 Fund - GrMotilal Oswal Multicap 35 Fund - GrPrincipal Dividend Yield Fund - GrPrincipal Emerging Bluechip Fund - GrPrincipal Focused Multicap Fund - GrPrincipal Multi Cap Growth Fund - GrReliance Focused Equity Fund - GrReliance Growth Fund GrReliance Large Cap Fund - GrReliance Multi Cap Fund - GrReliance Small Cap Fund - GrReliance Value Fund - GrReliance Vision Fund GrSBI Blue Chip Fund - GrSBI Contra Fund - Regular DivSBI Focused Equity Fund - Regular Plan - GrSBI Large & Mid Fund - DivSBI Magnum Equity ESG Fund - DivSBI Magnum MidCap Fund - GrSBI Magnum Multicap Fund - GrSBI Small Cap Fund - GrSundaram Large & Midcap Fund - GrSundaram Mid Cap Fund - GrSundaram Select Focus - GrSundaram Small Cap Fund - GrTata Equity P/E Fund GrTata Large & Mid Cap Fund - Regular Plan - GrTata Large Cap Fund - GrTata Mid Cap Growth Fund - GrTaurus Discovery (Midcap) Fund - GrTaurus Largecap Equity Fund - GrTaurus Starshare (Multi Cap) Fund - GrTempleton India Equity Income Fund - GrTempleton India Value Fund - GrUnion Multi Cap Fund - GrUnion Small Cap Fund - GrUTI Core Equity Fund - GrUTI Dividend Yield Fund. - GrUTI Equity Fund - GrUTI Master Share - GrUTI Mid Cap Fund - GrUTI Value Opportunities Fund - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseELSS / Tax Savings SchemesAditya Birla Sun Life Tax Relief 96 Fund - DivAxis Long Term Equity Fund - GrBaroda Pioneer Elss 96 - DivBNP Paribas Long Term Equity Fund - GrBOI AXA Tax Advantage Fund - Regular - GrowthCanara Robeco Equity Tax Saver Fund - DivDSP Tax Saver Fund - GrEdelweiss Long Term Equity Fund (Tax Savings) - GrFranklin India Taxshield GrHDFC Taxsaver - DivHSBC Tax Saver Equity Fund - GrICICI Prudential Long Term Equity Fund - Regular GrIDBI Equity Advantage Fund - GrIDFC Tax Advantage (ELSS) Fund - Regular GrInvesco India Tax Plan - GrJM Tax Gain Fund - Growth OptionKotak Tax Saver - GrL&T Tax Advantage Fund - GrLIC MF Tax Plan GrMirae Asset Tax Saver Fund - GrMotilal Oswal Long Term Equity Fund - GrPrincipal Tax Savings FundReliance Tax Saver Fund - GrSBI Magnum Tax Gain Fund - DivSundaram Diversified Equity (Tax Saver) Fund - DivTata India Tax Savings Fund Regular Plan - DivTaurus Tax Shield - GrUnion Tax Saver Scheme - GrUTI Long Term Equity Fund (Tax Saving) - GrAverage Return of Above FundsMaximum ReturnMinimum ReturnUniverseS&P BSE SENSEXNIFTY 50
1,06,0541,06,2381,13,0081,14,9001,13,9801,06,4151,00,22897,777
1,16,1541,13,0891,17,7181,14,4061,04,9431,08,2071,12,4491,04,5031,08,8961,02,3851,16,8881,09,6461,15,9671,10,0241,13,6911,06,1781,09,1501,10,1071,08,9781,08,35399,939
1,09,3681,12,2761,15,1171,05,2501,12,3891,11,8521,13,5851,11,3961,13,0531,10,5451,09,0681,02,9801,10,5051,17,0031,09,2491,15,0201,08,2041,11,9031,19,0391,12,4511,08,66698,177
1,16,6041,10,5711,20,2441,14,8541,08,8411,18,44798,628
1,17,8331,12,6821,09,0351,12,4221,07,1941,13,6161,09,1051,05,6541,12,2381,13,7611,14,4951,13,9541,13,1751,14,3391,08,3901,08,6711,18,8021,10,1891,07,4911,12,5091,06,4821,11,3031,16,4481,02,9391,14,1981,06,4841,12,6051,13,6621,09,6941,07,8841,07,5771,11,7721,12,7111,12,057
3,59,3133,74,6744,05,4753,98,3913,96,0343,75,0613,70,1763,62,0334,17,9224,24,7874,26,6313,85,6953,71,8263,72,4583,83,8153,61,9713,82,7303,64,7124,10,3774,08,3134,13,5743,80,8413,89,9363,60,7493,88,7823,95,1233,73,3803,89,9783,50,8743,73,5794,00,7334,07,9493,88,5684,14,7413,86,8283,86,3053,82,6233,89,5533,86,8903,87,4003,69,4414,05,4074,18,2073,79,2723,95,4933,93,1344,45,2544,21,3163,97,1553,84,1043,56,0214,16,6103,98,6844,14,1963,99,6843,92,9644,14,6783,45,5733,99,6783,85,9783,64,1044,04,6344,05,3154,00,9893,76,9664,02,6873,90,3884,01,0174,29,1714,17,5223,94,1424,11,0203,89,2444,00,2703,96,2763,97,6903,93,8143,87,1163,83,1153,92,8554,25,1413,65,0004,08,4684,28,8503,97,0933,90,1803,95,5153,89,1154,06,4474,09,4983,83,2093,72,910
6,68,6517,57,0178,10,6537,58,9977,55,1667,76,2777,83,2687,76,7107,74,7758,25,6378,35,9747,03,5906,36,8656,96,3167,22,9167,39,4187,43,2766,75,5287,59,0208,89,9047,63,156
NA7,31,161
NA7,46,4147,85,0017,19,3738,16,9397,97,7896,88,5797,59,3577,62,7328,11,417
NA7,31,0067,25,2417,34,5697,62,3017,71,3458,06,3977,93,2347,91,4447,84,9487,22,8977,07,2798,19,1059,07,2617,84,0967,36,3267,37,8027,43,2747,87,313
NA7,62,4157,49,5587,97,9248,06,9776,58,4697,84,931
NA6,81,5737,72,5717,47,3007,25,1707,35,6157,99,317
NA7,50,0918,62,8028,03,3827,45,0328,33,3487,84,8417,82,7607,23,9647,74,4297,88,5937,31,9508,24,5607,70,3577,94,4997,63,0828,14,135
NA7,54,7047,25,1598,33,4077,51,0708,76,092
NA7,02,4756,60,430
11,02,89013,72,38514,66,16513,24,60913,11,26414,10,19915,26,77614,46,01113,13,573
NA15,50,39411,35,8369,36,003
11,58,61612,44,22014,04,43512,93,75511,20,29312,46,93317,62,63512,64,634
NA12,31,668
NA12,65,56013,73,20812,19,92715,16,74016,12,02111,21,71512,80,88212,85,21415,65,007
NA11,99,21411,99,75012,90,07713,41,90214,46,07215,45,61916,17,17913,92,94313,43,60312,12,90811,32,70115,58,72216,11,11313,14,98811,99,87912,86,39313,95,60413,39,064
NA12,72,21012,72,64915,17,73214,10,70811,39,67214,60,941
NANA
12,81,75212,01,86711,72,21213,22,62014,08,145
NANA
15,55,68913,90,19312,54,58615,66,07314,88,57013,39,70411,86,65513,32,79313,50,74912,25,32515,51,74713,33,19513,29,01113,93,64714,53,198
NA12,85,02312,11,26915,74,34613,07,75816,86,542
NA11,60,95010,67,867
19,95,11324,27,13026,20,34224,19,15324,00,65526,17,59429,67,18027,61,447
NANANANANA
19,23,95022,42,31428,91,58024,31,83218,74,720
NA37,37,27823,13,406
NA20,81,860
NA22,49,81424,64,171
NA29,91,93934,44,07619,43,73922,71,981
NA31,41,154
NANA
21,39,59023,68,41624,88,18327,73,91531,09,27633,29,95126,00,59024,66,40521,15,68718,97,40732,63,24629,80,29523,52,45519,92,95522,77,75823,79,65725,01,754
NANA
22,92,70228,34,35525,38,93720,99,41030,23,275
NANA
21,58,97119,86,26319,95,76026,63,20827,31,035
NANA
28,56,36624,90,848
NA32,18,57431,40,09320,91,30819,26,68321,60,77521,07,43021,23,21329,39,33423,84,40323,39,18426,63,121
NANA
23,29,25221,71,949
NA24,48,40132,52,864
NA19,68,19417,63,061
28,02,18231,16,18334,18,53232,07,81532,71,26435,22,596
NANANANANANANA
25,36,78428,83,63935,94,66633,50,292
NANA
49,68,52931,59,363
NA27,05,363
NA30,49,99832,60,941
NA40,87,418
NA26,08,566
NANANANANA
28,70,03531,69,39633,52,290
NA41,26,20044,27,98835,13,30533,81,13527,74,74223,80,815
NANA
32,30,49425,58,64429,10,83129,36,181
NANANA
30,30,80135,68,42733,09,814
NA42,94,354
NANA
27,40,47826,10,40625,52,15938,68,462
NANANANANANANANANA
23,20,715NA
24,08,10727,68,813
NA31,46,29230,74,18934,37,660
NANA
31,28,274NANA
32,35,17543,36,315
NA24,99,97522,19,483
Starting - November Month of
Years
Invested Amount :
Schemes (Diversified Equity)
2017
1
1,20,000
2015
3
3,60,000
2013
5
6,00,000
Investment Value e
2011
7
8,40,000
2008
10
12,00,000
2006
12
14,40,000
SIP VALUE AS ON 31ST OCT 2018 NEWS UPDATE
India jumps 23 spots to 77 in World Bank's ease-of-doing-business rankings
India jumped 23 places to come in at the 77th spot in the World Bank's latest ease-of-doing-business global rankings in 2018, a year after it had jumped 30 places. The World Bank’s ‘Doing Business 2019: Training for Reform’ report, showed India's rank in ease of doing business jump up from the 100th place among 190 countries. India had broken into the club of 100 nations easiest to conduct business in last year when it managed to jump 30 places from the 130th position. India has been adjudged the �fth-best performing nation in reforming the business environment. The country improved its rankings in six of the 10 sub-categories used by the World Bank to judge business climate.
Manufacturing PMI up at 53.1 in Oct on new business orders, employment push
The country's manufacturing sector activity improved in October, as �rms scaled up production and employment levels amid strong rise in new business order �ows, a monthly survey said. The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months. This is the 15th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
India Inc foreign borrowing halves to $41.71 bn in Sept, Jio gets $500 mn
India Inc's foreign borrowing more than halved to $1.71 billion in September, data from Reserve Bank showed. The Indian �rms had raised $3.48 billion by tapping resources overseas such as external commercial borrowings (ECBs) and rupee-denominated bonds (RDBs). Of the $1.71 billion raised in previous month, $1.21 billion was through automatic route while $500 million came in via approval route. In a break-up, billionaire Mukesh Ambani owned Reliance Jio Infocomm Ltd
raised $500 million for rupee expenditure through the approval route.
IMF retains economic growth projection for India at 7.3% for FY19
The International Monetary Fund (IMF) retained economic growth projection for India at 7.3 per cent for 2018-19 (FY19), lower than the government’s and the Reserve Bank of India’s (RBI’s) forecasts. This is, however, noteworthy as the IMF cut global growth projections by 0.2 percentage points. In its World Economic Outlook (WEO), the IMF said foreign exchange interventions should be limited to address disorderly market conditions, something which RBI Governor Urjit Patel also talked about. The IMF wants the RBI to tighten monetary conditions, something which it did not do in the October policy review. For the next year (FY20), the IMF lowered India’s growth projections by 0.1 percentage points to 7.4 per cent. India will continue to be the fastest-growing major economy as China’s growth projection was retained by the IMF at 6.6 per cent for FY19. For FY20, the Chinese economic growth rate was cut by 0.2 percentage points to 6.2 per cent.
India and US bilateral trade rises 119% since 2007 at $126.2 billion
Bilateral trade of goods and services between India and the US has gone up by 119 per cent since 2007, touching $126.2 billion, according to the data collated by the o�ce of the United States Trade Representative (USTR). According to the data, exports were valued at $49.4 billion and imports were worth $76.7 billion. The US goods and services trade de�cit with India was $27.3 billion in 2017. The data comes at a time when the two nations are locked in a trade war. The US goods trade de�cit with India was $22.9 billion in 2017.
India's steel demand expected to be back on higher growth track
India's steel demand is expected to move back to a higher growth track as the country recovers from "twin shocks of demonetisation and GST implementation", global industry body World Steel Association (worldsteel)
said. In its October 2018 Short Range Outlook, worldsteel said it projects global steel demand at 1,657.9 million tonnes (MT) in 2018, an increase of 3.9 per cent over 2017. The demand for steel in the developed world remains healthy, while in the developing countries steel demand will continue to recover amid challenges.
Telcos begin rolling out alternate digital KYC process for new connections
Large telecom operators including Vodafone Idea Ltd and Bharti Airtel have begun rolling out an 'alternate digital KYC process' for new connections, which will replace Aadhaar-based electronic veri�cation process. Reliance Jio sources indicated that the operator has a plan on alternate digital KYC and will roll it out soon. However, it is not immediately clear if telecom service providers are, for now, continuing Aadhaar eKYC for veri�cation of new subscribers. The Supreme Court had in a landmark verdict in September restricted the use of Aadhaar by private entities in the absence of a legal provision. On October 26, the telecom department asked operators to stop using Aadhaar for electronic veri�cation of existing mobile phone customers as well as for issuing new connections to comply with the SC order.
Share of generation to fall to 30% in new power sector investments
The share of generation segment in fresh power sector investments in the future is set to fall to 30 per cent over the next �ve years. A report by CRISIL Research estimates that power sector will attract Rs 9-9.5 trillion new investments from FY19 to FY23. While the share of generation (excluding renewables) in the projected investments will be substantial, it is expected to fall to 30 per cent compared to 51 per cent share which the segment had in the previous �ve years. Power sector investments would be fuelled by transmission and distribution sectors that would have a share of 36 per cent and 34 per cent respectively.
Aditya Birla Sun Life Dividend Yield Fund - GrowthAditya Birla Sun Life Equity Advantage Fund - GrAditya Birla Sun Life Equity Fund - GrAditya Birla Sun Life Focused Equity Fund - GrAditya Birla Sun Life Frontline Equity Fund - GrAditya Birla Sun Life Midcap Fund - GrAditya Birla Sun Life Pure Value Fund - GrAditya Birla Sun Life Small Cap Fund - GrAxis Bluechip Fund - GrAxis Focused 25 Fund - GrAxis MidCap Fund - GrBaroda Pioneer Large Cap Fund - GrBaroda Pioneer Mid-cap Fund - GrBaroda Pioneer Multi Cap Fund - Growth PlanBNP Paribas Large Cap Fund - GrBNP Paribas Midcap Fund - GrBNP Paribas Multi Cap Fund - GrBOI AXA Large & Mid Cap Equity Fund - Regular Plan GrCanara Robeco Bluechip Equity Fund - GrCanara Robeco Emerging Equities Fund - GrCanara Robeco Equity Diversified Fund - GrDHFL Pramerica Diversified Equity Fund - GrDHFL Pramerica Large Cap Fund - GrDHFL Pramerica Midcap Opportunities Fund - GrDSP Equity Fund - Reg. Plan - DivDSP Equity Opportunities Fund - GrDSP Focus Fund - GrDSP Midcap Fund - Reg GrDSP Small Cap Fund - GrDSP Top 100 Equity Fund GrEdelweiss Large & Mid Cap Fund - Regular GrEdelweiss Large Cap Fund - GrEdelweiss Mid Cap Fund - Regular GrEdelweiss Multi-Cap Fund - GrEssel Large Cap Equity Fund - GrFranklin India Bluechip Fund GrFranklin India Equity Advantage Fund - GrFranklin India Equity Fund - GrFranklin India Focused Equity Fund - GrFranklin India Prima Fund GrFranklin India Smaller Companies Fund - GrHDFC Capital Builder Value Fund - GrHDFC Equity Fund - DivHDFC Focused 30 Fund - GrHDFC Growth Opportunities Fund - GrHDFC Mid Cap Opportunities Fund - GrHDFC Small Cap Fund - GrHDFC Top 100 Fund - DivHSBC Large Cap Equity Fund - GrHSBC Multi Cap Equity Fund - GrHSBC Small Cap Equity Fund - GrICICI Prudential Bluechip Fund - GrICICI Prudential Dividend Yield Equity Fund - GrICICI Prudential Focused Equity Fund - Retail GrICICI Prudential Large & Mid Cap Fund - GrICICI Prudential MidCap Fund - GrICICI Prudential Multicap Fund - GrICICI Prudential Smallcap Fund - GrICICI Prudential Value Discovery Fund GrIDBI Diversified Equity Fund - GrIDBI India Top 100 Equity Fund - GrIDFC Core Equity Fund - Regular Plan - GrIDFC Focused Equity Fund - Regular Plan - GrIDFC Large Cap Fund - Regular Plan - GrIDFC Multi Cap Fund - Regular Plan - GrIDFC Sterling Value Fund - Regular GrIIFL Focused Equity Fund - GrIndiabulls Blue Chip Fund - GrInvesco India Contra Fund - GrInvesco India Growth Opportunities Fund - GrInvesco India Largecap Fund - GrInvesco India Midcap Fund - GrInvesco India Multicap Fund - GrJM Core 11 Fund - Series 1 - Growth OptionJM Large Cap Fund - Growth OptionJM Multicap Fund - Growth OptionJM Value Fund - Growth OptionKotak Bluechip Fund - GrKotak Emerging Equity Scheme - GrKotak Equity Opportunities Fund - GrKotak India EQ Contra Fund - GrKotak Smallcap Fund - GrKotak Standard Multicap Fund - GrL&T Emerging Businesses Fund - GrL&T Equity Fund - GrL&T India Large Cap Fund - GrL&T India Value Fund - GrL&T Large and Midcap Fund - GrL&T Midcap Fund - GrLIC MF Large & Mid Cap Fund - GrLIC MF Large Cap Fund - GrLIC MF Multi Cap Fund - Gr
SIP VALUE AS ON 31ST OCT 2018
Starting - November Month of
Years
Invested Amount :
Schemes (Diversified Equity)
2017
1
1,20,000
2015
3
3,60,000
2013
5
6,00,000
Investment Value e
2011
7
8,40,000
2008
10
12,00,000
2006
12
14,40,000
NEWS UPDATE
India jumps 23 spots to 77 in World Bank's ease-of-doing-business rankings
India jumped 23 places to come in at the 77th spot in the World Bank's latest ease-of-doing-business global rankings in 2018, a year after it had jumped 30 places. The World Bank’s ‘Doing Business 2019: Training for Reform’ report, showed India's rank in ease of doing business jump up from the 100th place among 190 countries. India had broken into the club of 100 nations easiest to conduct business in last year when it managed to jump 30 places from the 130th position. India has been adjudged the �fth-best performing nation in reforming the business environment. The country improved its rankings in six of the 10 sub-categories used by the World Bank to judge business climate.
Manufacturing PMI up at 53.1 in Oct on new business orders, employment push
The country's manufacturing sector activity improved in October, as �rms scaled up production and employment levels amid strong rise in new business order �ows, a monthly survey said. The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months. This is the 15th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
India Inc foreign borrowing halves to $41.71 bn in Sept, Jio gets $500 mn
India Inc's foreign borrowing more than halved to $1.71 billion in September, data from Reserve Bank showed. The Indian �rms had raised $3.48 billion by tapping resources overseas such as external commercial borrowings (ECBs) and rupee-denominated bonds (RDBs). Of the $1.71 billion raised in previous month, $1.21 billion was through automatic route while $500 million came in via approval route. In a break-up, billionaire Mukesh Ambani owned Reliance Jio Infocomm Ltd
raised $500 million for rupee expenditure through the approval route.
IMF retains economic growth projection for India at 7.3% for FY19
The International Monetary Fund (IMF) retained economic growth projection for India at 7.3 per cent for 2018-19 (FY19), lower than the government’s and the Reserve Bank of India’s (RBI’s) forecasts. This is, however, noteworthy as the IMF cut global growth projections by 0.2 percentage points. In its World Economic Outlook (WEO), the IMF said foreign exchange interventions should be limited to address disorderly market conditions, something which RBI Governor Urjit Patel also talked about. The IMF wants the RBI to tighten monetary conditions, something which it did not do in the October policy review. For the next year (FY20), the IMF lowered India’s growth projections by 0.1 percentage points to 7.4 per cent. India will continue to be the fastest-growing major economy as China’s growth projection was retained by the IMF at 6.6 per cent for FY19. For FY20, the Chinese economic growth rate was cut by 0.2 percentage points to 6.2 per cent.
India and US bilateral trade rises 119% since 2007 at $126.2 billion
Bilateral trade of goods and services between India and the US has gone up by 119 per cent since 2007, touching $126.2 billion, according to the data collated by the o�ce of the United States Trade Representative (USTR). According to the data, exports were valued at $49.4 billion and imports were worth $76.7 billion. The US goods and services trade de�cit with India was $27.3 billion in 2017. The data comes at a time when the two nations are locked in a trade war. The US goods trade de�cit with India was $22.9 billion in 2017.
India's steel demand expected to be back on higher growth track
India's steel demand is expected to move back to a higher growth track as the country recovers from "twin shocks of demonetisation and GST implementation", global industry body World Steel Association (worldsteel)
said. In its October 2018 Short Range Outlook, worldsteel said it projects global steel demand at 1,657.9 million tonnes (MT) in 2018, an increase of 3.9 per cent over 2017. The demand for steel in the developed world remains healthy, while in the developing countries steel demand will continue to recover amid challenges.
Telcos begin rolling out alternate digital KYC process for new connections
Large telecom operators including Vodafone Idea Ltd and Bharti Airtel have begun rolling out an 'alternate digital KYC process' for new connections, which will replace Aadhaar-based electronic veri�cation process. Reliance Jio sources indicated that the operator has a plan on alternate digital KYC and will roll it out soon. However, it is not immediately clear if telecom service providers are, for now, continuing Aadhaar eKYC for veri�cation of new subscribers. The Supreme Court had in a landmark verdict in September restricted the use of Aadhaar by private entities in the absence of a legal provision. On October 26, the telecom department asked operators to stop using Aadhaar for electronic veri�cation of existing mobile phone customers as well as for issuing new connections to comply with the SC order.
Share of generation to fall to 30% in new power sector investments
The share of generation segment in fresh power sector investments in the future is set to fall to 30 per cent over the next �ve years. A report by CRISIL Research estimates that power sector will attract Rs 9-9.5 trillion new investments from FY19 to FY23. While the share of generation (excluding renewables) in the projected investments will be substantial, it is expected to fall to 30 per cent compared to 51 per cent share which the segment had in the previous �ve years. Power sector investments would be fuelled by transmission and distribution sectors that would have a share of 36 per cent and 34 per cent respectively.
DISCLAIMER: We have taken due care and caution in compilation of this booklet. The information has been obtained formvarious reliable sources. However it does not guarantee the accuracy, adequacy or completeness of any information and are not responsible for any errors or omissions of the results obtained from the use of such information. Investors shold seek proper financial advise regarding the appropriateness of investing in any of the schemes stated, discussed or recommended in this newsletter and should realise that thestatements regarding future prospects may or may not realise. Mutual fund investments are subject to market risks. Please read the offer document carefully before investing. Past performance is for indicative purpose only and is not necessarily a guide to the future performance.
1,14,7471,16,8251,08,9901,08,5141,06,2331,14,2361,08,3551,14,3881,11,3081,07,7751,08,5361,17,7761,14,2291,05,7311,10,6731,07,7141,11,9191,07,6011,11,7811,13,5601,15,4241,03,4541,10,0411,03,6371,14,7571,04,0971,15,72094,007
1,08,7211,13,8731,13,0701,07,4211,09,6971,13,3271,09,9391,08,1021,05,1641,13,6031,02,5201,11,5321,18,2811,15,2561,14,9171,05,7791,14,0841,10,5421,20,24494,007
137
1,11,2201,14,0061,05,4731,09,5441,01,0001,16,2831,10,7851,08,9661,13,5561,12,6361,07,4251,16,7691,13,6561,09,0321,13,6381,10,2901,13,4631,11,8971,13,6301,15,8381,06,7701,10,5961,04,1221,11,4711,07,1131,10,0821,14,1491,11,8511,12,0941,10,9431,16,7691,01,000
291,18,0651,16,607
4,28,9254,25,2763,81,1393,62,2763,88,4384,29,2414,06,6473,99,1844,15,5963,83,3943,87,8004,23,5883,98,9284,15,1963,97,0933,69,2233,85,7513,73,4774,07,3714,00,1673,93,1843,43,9883,91,3984,18,5914,19,4213,70,8044,14,8863,29,4364,07,2663,87,8193,87,1273,75,9284,04,9033,74,9343,75,8733,86,6783,74,7753,87,3143,53,4853,87,2144,16,6884,06,0384,00,9423,69,7923,95,2413,92,6704,45,2543,29,436
137
4,07,3484,09,7953,64,9053,74,3223,79,8414,08,0773,91,9563,78,5753,89,8423,98,2873,81,1734,03,5123,96,6464,08,1344,09,8723,99,7173,95,6614,10,8584,04,606
NA4,00,3614,12,0813,58,8573,80,2343,75,2943,94,4354,19,0663,75,6003,89,6813,93,5264,19,0663,58,857
284,16,6274,09,086
9,44,5418,37,4987,30,720
NANA
8,16,4918,60,4347,47,2918,14,6907,86,7437,61,5828,12,0147,46,6379,27,4717,71,3826,98,7847,53,0567,06,8168,09,8947,85,5057,41,9397,13,4097,90,8989,73,2878,20,9407,83,7317,57,5587,02,1978,32,2517,44,2387,18,0357,66,3818,19,1566,82,9616,86,9367,31,7917,22,8506,89,742
NA7,25,0027,68,0377,65,4337,47,4997,61,8617,15,8797,67,1779,73,2876,36,865
126
8,18,2688,10,9396,83,5917,13,9967,24,1177,58,4427,78,5627,19,1817,59,0447,47,1187,33,5417,70,1377,86,4447,97,7598,04,0247,74,6427,72,7028,03,7017,59,620
NANA
8,07,1467,04,0877,16,4867,25,6467,92,5427,89,6226,75,8457,33,5167,57,8048,18,2686,75,845
277,44,6087,38,691
18,94,91314,93,584
NANANA
13,47,27616,69,47012,56,70114,54,89914,71,68213,19,63214,09,15412,98,35319,18,87713,29,55911,84,74113,25,84211,72,92514,08,51813,95,39712,43,36614,08,51714,09,68919,87,22813,94,08614,79,67912,26,03013,37,69014,93,31112,85,65311,90,13614,43,29714,98,03611,00,94911,31,84012,25,65612,19,92511,20,547
NA12,10,32912,39,03013,07,61012,46,41814,94,19611,75,29513,52,59619,87,2289,36,003
122
14,78,13515,19,22011,52,42112,51,68512,39,16512,71,14213,88,83012,32,12013,31,20012,78,72812,77,73013,60,732
NA14,22,00814,30,73413,45,50913,03,95813,79,74212,85,892
NANA
14,43,34212,91,20712,37,78212,25,36213,93,15213,00,026
NA12,28,26513,22,72315,19,22011,52,421
2511,98,03811,91,623
NA29,10,364
NANANA
23,62,69733,11,76422,35,95125,79,94627,50,03623,37,82225,16,95225,85,315
NA23,75,07920,17,60223,92,93419,34,00830,07,02325,11,52022,20,42127,56,96624,57,270
NA23,65,73329,23,37620,10,13524,49,92127,48,09123,21,78620,98,73327,55,45227,08,14018,16,76319,89,24822,27,07521,42,703
NANA
21,07,03721,63,17424,12,83021,77,82729,89,98421,56,27524,69,59337,37,27817,63,061
106
26,50,861NA
19,52,93823,26,051
NA23,29,50125,62,222
NA25,12,51823,19,01223,08,85926,02,284
NANA
27,02,38722,35,08022,67,39725,29,72021,73,715
NANA
25,67,42224,65,08922,01,84820,93,41825,61,23322,55,432
NA21,19,28423,68,39427,02,38719,52,938
2120,15,25720,10,098
NANANANANA
30,81,392NA
29,69,45832,06,178
NA31,23,950
NA35,47,723
NA32,52,94226,16,81731,04,53224,76,54939,61,66833,12,87929,32,87534,52,12831,02,828
NANA
39,98,04925,67,90833,19,54537,41,76429,92,80627,84,50036,00,07732,54,08522,47,72025,24,25529,73,85828,73,611
NANA
27,00,77329,81,52432,82,31728,68,36340,15,02430,00,18631,55,48649,68,52922,19,483
81
34,18,918NA
24,69,80429,27,528
NA32,35,319
NANA
34,14,13831,04,504
NA35,04,373
NANANANA
28,73,62234,29,07127,22,216
NANA
31,79,84533,24,51128,55,94527,52,66233,53,30330,71,730
NA27,06,91730,79,08335,04,37324,69,804
1725,69,25425,76,289
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