Every person should invest in Mutual Funds, except..

Mutual Fund investments are one of the best options for a beginner or even most advanced investors for investing in stock market. Although I pick and buy stocks of good companies myself, I also invest a portion of my money in Mutual Funds, and overall in my past years experience there is nothing I have found to regret about my investment strategy. In spite of all the talk on global recession, subprime etc. my investments made before the recession have earned good positive returns. If you are a beginning investor, I recommend reading the article Riding the Equity Wave for you. Having said this, the first step in investing is to decide how much to invest in mutual funds or stock markets. In my opinion every person should invest in Mutual Funds or stock markets except those who do not have any risk appetite. And here's a simple recipe to find your 'monthly risk appetite'.

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Crisil - Credit ratings agency

Crisil is a credit rating agency which rates various companies for their ability to repay back debt. You can read about more about Credit rating agencies here. In addition to this, Crisil also rates mutual funds. Crisil is a well known and reputed company and is a market leader in India (followed by ICRA). Thus the ratings assigned by CRISIL can be taken seriously.

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DSP BlackRock Micro Cap - Introduction

DSP BlackRock Micro Cap Fund is the best mutual fund in 'equities diversified' category (best as per according to NSE MF Tracker. Note that this rating 'best' is only based on the past performance of the mutual fund, unlike CRISIL CPR ratings which not only take into account not just performance but also other risk minimizing factors like sector concentration, industry concentration and liquidity. However, DSP BlackRock Micro Cap Fund is not rated by Crisil yet. In any case, I personally think that this is the one of the best mutual funds to invest in (especially SIP - Systematic Investment Plan) in the coming years. Moreover, this mutual fund makes an even more attractive investment options in view of the latest news (see below) which says that DSP Blackrock Micro Cap Fund will now be converted into an open ended scheme. Earlier SIP in this scheme was not possible. Below are some of the highlights of this micro cap mutual fund scheme.

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This should have actually been a part of my previous post How to buy shares using a Demat Account? because it is meant to answer questions like How to buy shares? How to invest in stock market? etc.

There are two ways of investing in shares. One is directly buying shares. For example you decide that you are going to buy 25 shares of BHEl, 50 shares of Tata Steel, 10 of Cipla and so on. For such buying, you MUST have a Demat account.

However, there is also another way of investing in shares. Which can be thought of as indirect way of investing - Invest in a Mutual Fund. After all, a mutual fund takes your money and invests them in shares and gives you the return/profit (after deducting their fees called entry/exit loads). There are thousands of mutual funds around and several of them focus on some specific sectors. For beginners, this is the safest way to invest in a stock market. Well, safest here does not mean risk free. You still have to pick up the right mutual fund which suits your risk appetite and no matter how good the mutual funds past track record the investment is still subject to market risks. However for investing in Mutual Funds you does not require you to have a Demat Account. However you do need a PAN Card.

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Online Trading Accounts like SBICAP Securities allow you to buy Mutual Funds units online. However, currently only the following mutual funds are available for purchase through SBICAP Seucrities. (I will keep the post updated).

1. All products of JM Mutual Fund
2. All products of Reliance Mutual Fund
3. All products of SBI Mutual Fund
4. All products of Sundaram BNP Paribas Mutual Fund
5. All products of Tata Mutual Fund
   

Other than standard entry and exit loads of these mutual funds, there are no other charges. This has been confirmed by me through an email to SBICAP Securities.

It is currently not clear to me whether you can directly buy Mutual Funds and IPO directly using SBI Demat Account (without need an online trading account with SBICAP Securities).

Currently it is unclear to me whether you can directly buy the above Mutual Funds through your SBI Demat

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Exchange Traded Fund (ETF) :

Exchange traded funds are mutual funds which you can buy and sell in the stock market, just like any other stocks or shares ! This as far as investment is concerned an exchange traded fund is just a mutual fund and as far as buying or selling the mutual fund is concenred, an exchange traded fund is just like a stock or equity which you can trade on stock exchange like NSE. Below you will find a list of all exchange traded funds in India which are listed on NSE and their description.

How to buy or invest an Exchange Traded Fund?

Just as you buy a company share or a stock. You need a Demat account. The units of ETF or Exchange traded fund you buy will appear in your portfolio in your Demat account.

Why invest in Exchange Traded Funds (ETFs) ?:

Here is a list of advantages of investing in Exchange Traded Funds (ETF) :

• Absolutely no paper work : easiest method to buy / sell mutual fund.
  
• ETF like NIFTY BeEs provides the most affordable (unleveraged) way of 'buying Nifty'.
  
• Gold ETFs like GOLDBEES are the best way of investing in gold. No need to physically buy gold. Provides affordable way of investing in small amounts of gold, as compared to trading gold on commodities exchange. Also much better and hassle free than physically buying gold from the market and worrying about its purity, security etc.
  
• Real time NAV calculation. Essentially the price of the ETF can be thought of its NAV and it keeps changing real time. So the performance of ETF is much more transparent and easy to judge.
  

List of Exchange Traded Funds or ETFs traded on NSE India :

ETFs - Index Funds (Nifty, Junior Nifty, etc.)

• Nifty BeES (Index ETF)
  
• Junior Nifty BeES (Index ETF)
  
• QNIFTY (Index ETF)
  
• S&P CNX Nifty UTI Notional Depository Reciepts Scheme (SUNDER) (Index ETF)
  

ETFs - Banks / Banking stocks

• Bank BeES (ETF)
  
• PSUBNKBEES (ETF)
  
• KOTAKPSUBK (ETF)
  
• RELBANK (ETF)
  

Gold Exchange traded Funds

• GOLDBEES (GOLD ETF)
  
• KOTAKGOLD (GOLD ETF)
  
• GOLDSHARE (GOLD ETF)
  
• RELGOLD (GOLD ETF)
  
• QUANTUMGOLD (GOLD ETF)
  

To know more about Gold ETFs, please read my detailed post on

Gold mutual funds and Gold exchange traded funds

ETF - Liquid Funds

• Liquid Benchmark Exchange Traded Scheme (Liquid BeES)

Related posts :

• GOLD ETF - Invest in gold without buying gold
• Liquid Funds : What, Why, How, etc.
• Introduction to Mutual Funds

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What is a Gold Mutual Fund ?

A gold mutual fund is a mutual fund which invests in gold. When you buy or invest in a gold mutual fund, the fund managers invest your money in gold. Typically, when prices of gold increase, the gold mutual fund performs well. The exact performance and the returns you get depend on how the fund managers manage your money, when do they buy and/or sell, etc. You will be charged a small fee called entry load, typically around 2.5% at the time when you invest.

What is NAV of a Gold Mutual Fund?

Just like any other mutual fund, when you invest in a gold mutual fund, you buy units of that mutual fund. The price of one unit is called NAV or Net asset value. When the mutual fund makes profit, the NAV increases. If it makes loss the NAV decreases and so on. If you want to invest more, you buy more units. If you want to get part or whole of your cash you have invested back, you can sell some or all of the mutual fund units you have. The NAV can also be used to compare the performance of different gold mutual funds.

What is a GOLD ETF ?

GOLD ETF or GOLD Exchange Traded Fund is a Gold Mutual Fund which can be bought and/or sold in the stock market like any other shares or equities. Click on ETF to know more about Exchange traded funds.

List of Gold Mutual Funds and Gold ETFs in India-
Examples, Latest NAV and Comparison:

The following table gives a list of some of the popular Gold Mutual Funds in India. Clicking on the links below will take you to their Moneycontrol.com page where you can find their latest NAV's. You may use these links to compare the NAV and past performance of the gold mutual funds.

Gold Mutual Fund	Returns in 1 year	Latest NAV	Entry Load	Exit Load
AIG World Gold Fund	-	LATEST NAV	2.25%	1%
DSP ML World Gold Fund	-0.85%	LATEST NAV	2.25%	NIL
Kotak Gold ETF	16.7%	LATEST NAV	1.5%	NIL
Benchmark Gold ETF	16.7%	LATEST NAV	NIL	NIL
UTI Gold ETF	16.8%	LATEST NAV	2.5%	NIL
RELIANCE GOLD ETF	-	LATEST NAV	NIL	NIL
QUANTUM GOLD ETF	-	LATEST NAV	NIL	0.5%

*I have only compared mutual funds with growth options. All the above mutual funds also have dividend options. However, in order to compare the above gold mutual funds, it would be enough to compare either of the growth or dividend options.
*AIG Gold Fund, Reliance Gold ETF and Quantum Gold ETF have not completed one year.

DSP ML Gold mutual fund seems to have performed horribly. Its returns in the past 6 months are -40% which is bad by any standards, even though gold prices have dropped. So of the above gold mutual funds, avoid DSP ML Gold Mutual Fund and go for Kotak Gold ETF, Benchmark Gold ETF, or UTI Gold ETF. Benchmark Gold ETF has the added advantage that if you invest with them directly, you have no entry or exit load. This is a huge bonus.

Advantages of Investing in a GOLD MUTUAL FUND and GOLD ETF :

• It is much more hassle free and safe as compared to buying physical gold. If you buy physical gold, you have to worry about its purity, storage, security etc. Moreover buying / selling gold from the market takes much more effort and time.
  

• More affordable for small investors than buying gold futures on commodities exchange. Gold futures are typically in lots of 1kg, while the price of a Gold ETF is typically 1 gram (sometimes even 1/2 gram) of gold.
  

• Trading and investing in Gold ETFs is a matter of a few clicks once you have a DEMAT account and an online trading account.

List of Gold ETFs on NSE :

Following table summarizes the list of GOLD ETFs traded on NSE India, and their relative turnover (i.e. traded quantity) on NSE.

NSE Symbol	Gold Mutual Fund	Turnover
GOLDBEES (BENCHMARK GOLD ETF)	Benchmark Gold Mutual Fund	high
KOTAKGOLD KOTAK GOLD ETF	Kotak Gold Mutual Fund	medium
GOLDSHARE UTI GOLD ETF	UTI Gold Mutual Fund	medium
RELGOLD RELIANCE GOLD ETF	Reliance Gold Mutual Fund	medium
QGOLDHALF QUANTUM GOLD ETF	Quantum Gold Mutual Fund	low

* The price of all the above GOLD ETFs, except QGOLDHALF, is roughly equal to the current price of 1 gram of gold. The price of QGOLDHALF is roughly equal to the current price of 1/2 gram of gold.
* Clicking on the name of the GOLD ETF above will take you to the corresponding page of NSE's website


Related posts :

• ETFs in India - All those "BeES" on NSE
• Liquid Funds : What, Why, How, etc.
  
• Introduction to Mutual Funds

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What are Liquid Funds ? What are the advantages of investing in a liquid fund ? How to invest in liquid funds in India ? How to find their latest NAV's and historic performance ?

The word "liquid" or "liquidity" is usually associated with availability of free cash. Thus liquidity of an investment measures the ability of that investment to be quickly converted to cash. For example an investment in short term bank deposit is a liquid investment as compared to investment in a mutual fund having a lock-in period of 3 years or an investment in real estate.

What are liquid funds ?
Liquid Funds are one of the best available options you have to park your liquid cash and earn 'tax-free' dividends on it. You can simply think of liquid funds as an alternative investment options to short term fixed deposits. Liquid funds invest with minimal risk and their portfolio usually consists of short term deposits, short term government securities, Money Market Instruments, and I have also once seen a small exposure to leasing and real estate. From an external point of view, liquid funds function just like mutual funds - when you invest money you buy 'units' of the fund, they also have NAV , come in growth and dividend options.

Liquid Funds and Dividend Options:
For liquid funds with dividend options, the dividend is either Monthly dividend (MD) or Weekly dividend (WD) or even Daily dividend (DD) !. Yearly dividend would not be a popular in something that you expect to be 'liquid' like a short term deposit, would it?

Are Dividends on Liquid Funds Taxable ? (Liquid funds versus fixed deposits)
The dividends paid out by Liquid funds "in the hands of the investor" are currently tax free (in India), just like dividends paid out by Mutual Funds. However the Liquid Fund itself has to pay Dividend distribution tax and a surcharge of 3%. Currently the Dividend Distribution Tax (DDT) levied on Liquid Funds is 25%. Thus, DDT+surcharge comes out to be around 25.75%. This is however still less than 30% tax one would have to pay on interest from savings account (assuming the taxable income enters the 30% bracket). Moreover, including the 3% education cess, if 10% surcharge becomes applicable (i.e. when the taxable income of that person is greater than 10 lacs) then the total tax one would pay on interest in savings account or fixed deposit would be over 33% as compared to 25.75% for Liquid Funds. Thus there is a clear cut tax advantage for choosing Liquid Funds over short term fixed deposits.

How to invest in liquid funds in India ?
As I have already mentioned, the external functioning of the Liquid fund is very much like a mutual fund. Find a suitable liquid fund and invest in it as you would invest in a mutual fund. If you are located in India, you will probably need a PAN card to invest in a liquid funds.

Where can you find a list of liquid funds in India ?
Let me give few names / examples of Liquid Funds in India to really convince you of their existence :) These are not necessarily well chosen or well performing funds. Just random examples. In fact at the time of writing this blog entry, some of them have also given negative returns in the past few months. Later I may research and upload a list of funds which I personally find preferable.

• HDFC Liquid Fund - Dividend Daily
  
• ICICI Prudential Liquid Plan - Dividend-Quarterly
• Mirae Asset Liquid Plus Fund - Dividend-Weekly
• Reliance Liquid Fund - Cash Plan - Growth

For a comprehensive list of Liquid funds in India, choose one of the following options.

• Click here to get a list of liquid funds list of Moneycontrol.com.
• Go to finance.rediff.com , Search "Liquid Fund" and get a long list.

Liquid Funds, finding NAV and past / historical performance :
This again you can get on the finance.rediff.com or Moneycontrol.com or maybe even dozens of other financial websites, sometimes including the website of the fund itself. When you get a list of liquid funds in the above mentioned manner, just click on each to get details of NAV, historic NAV etc.

Exchange traded Liquid Funds - Liquid BeEs :
Liquid BeEs (or LIQUIDBEES) is a liquid fund which can be traded on NSE. This is currently the only ETF which is a Liquid Fund. The NAV, or the Price of Liquid BeEs is currently around Rs. 1000.

Other types of low risk Funds :
Arbitrage Funds, like Liquid Funds are also provide low risk investment options. However, in case of a good liquid fund one can normally expect returns comparable or better than the short term fixed desposit interest rate. In case of Arbitrage funds there is no such 'base-line' expectation. Moreover, now SEBI is planning to allow direct system or algorithmic trading. This will increase the efficiency of arbitrage funds, but will also be easy for people to set up more arbitrage funds.

Related Posts :

• Gold ETF and Gold Mutual Funds
• ETFs in India
  
• Introduction to Mutual Funds

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Dont even think of making new investment decisions at this point of time in mutual funds. Why?

1) Inflation is over 12% and climbing. There are talks of inflation coming under control in a couple fo quarters and it may certainly get easier if crude oil falls below $100 . But with reports about possibilities hurricane Gustav becoming a level 5 storm and hitting oil companies in mexico, this may not happen in the next couple of months. So we may be a little off about estimates about getting inflation under control.

2) Interest rates have increased, GDP has fallen and one may think this would be an ideal time to invest. But alas, interest rates will increase once again in October in all probability, growth will be hit once again. And the stock markets are going to fall further.

3) Currently the Nifty EPS is about 18.4 and Nifty growth is hardly 10%. In fact the growth in Q2 is going to be even worse than the growth in Q1.

4) The Global economic condition is worsening. Originally it was fear about US recession now Japan and UK, in fact a major portion of Europe is on the brink of recession. It is not at all clear how long and how deep is the current crisis is going to be.

So what is a good time to invest in mutual funds ?

1) Inflation under control.
2) GDP growth on target.
3) No major world economies, especially those directly affecting Indian markets facing recession fears.
4) Watch for IIP (Index of Industrial Production) data which is released every month. A consistent increase in IIP data would be a good indication of a healthy economy. Note however IIP must be compared with the same month last year rather than the previous month.

Related Posts :

• Liquid Funds
  

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Here are some important things to keep in mind while selecting a mutual fund.

1. Make sure you are clear on why you are investing in a mutual fund. There are roughly two main reasons. (i) Investment + for tax saving for claiming deduction under section 80C and (ii) Purely investing purpose.
   
   
2. Choosing between Growth and Dividend options : Nearly each mutual fund comes in two options : Growth and Dividend. In the growth option you get back your entire money after you sell or redeem all units of the mutual fund. In the dividend option, you keep getting periodic (usually yearly) dividend on your investment. i.e. the mutual fund periodically pays out a sum depending on its performance in that year. Dividend option is good for those who are looking for yearly income. Dividends are currently tax free. Choosing between growth and dividend options is purely a matter of ones own personal requirements.
   
   
3. How much risk to take ? You have to decide how much risk you want to take on this investment. Lets talk about three categories of risk : low risk, medium risk and high risk. I would advice the following type of people to stick with low risk options. (i) People who are new to stock market and have no or little experience in dealing with shares / stocks. This is because any risk you take without having an above average understanding of the stock market will NOT be a calculated risk. (ii) People for whom this investment is going to be a significant portion of the total investments and savings they currently have. Please bear in mind that "taking high risk amounts to higher returns" is a myth or a fallacy. Risk itself means your investment can shrink.
   
   
4. Selecting for Tax deduction purpose : Not all mutual funds are eligible for deductions under 80C. How to identify tax saving mutual funds ? Any such mutual funds usually clearly mention this. Also such mutual funds have a lock in period of 3 years.
   
   
5. Choosing a Low risk option : In order to minimise risk it is important that the mutual fund you pick has a well-diversified portfolio. Which means, if you look at the portfolio of the mutual fund, then it must not have a major percentage of its investment in a single stock. How does one find out about the portfolio of a mutual fund ? Here is one possible way (i) Go to Moneycontrol.com (ii) In the search options click on "NAV" and type the name or part of the name of the mutual fund in the search box and search. (iii) A list of matching names will appear on the screen. Click on the mutual fund you are looking for. On the page that will appear, scroll down and you will see "Portfolio Analysis". There will be a list of companies and next to each of them you will see the percentage of the total amount that the mutual fund has invested in that particular company. Make sure that the topmost company on that list does not have more than 7% to 8%. It is also important to have diversification sector wise. After looking at the portfolio look at past performance of that mutual fund (again for example on moneycontrol.com).
   
   A mutual fund which has satisfactory past performance and a well diversified portfolio is a good low risk investment option.
   
   Choosing a systematic investment plan or an SIP is a good idea in order to minimise risk. In order to further minimise risk you may choose to split your investment or SIP into two to three different mutual funds meeting the criterion.
   
   
6. For those with high risk appetite : For this you have to have a judgement about which sector is going to do well in the near future. For example if you think that construction and real estate are going to go up in the near future, then you can choose a high risk option by selecting a mutual fund which has a large percentage of its investment in real estate and construction companies. You will have to do some searching and researching for this though. Also bear in mind, if your guess is wrong a significant portion of your investment can be wiped out. Merely choosing a mutual fund based on past performance and whose portfolio is not so well diversified (for example one of the taurus mutual funds had around 33% of its investment in JaiPrakash Associates Ltd. - this is way above our 7-8% criterion for diversification) would also qualify as a high risk, although I am not sure that is a good idea.

Related posts :

• Introduction to Mutual Funds
• My own experience with Systematic Investment Plan (SIP)
• Liquid Funds : What, Why, How, etc.
  

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I would like to illlustrate with my own personal experience how systematic investment plan helped me. In November 2007 I wanted to make an investment in mutual funds for tax saving purpose and also because that was the time when stocks were very popular because of the crazy bull run. Now I would have had two choices, either invest, let say 1.2 lacs lumpsome in the stock market. or invest 10K every month (which means choose SIP). I chose the systematic investment plan. And I am very glad about that decision. Because the markets have fallen about 40% since then. Had i put all my money in stock market in that month itself, my losses would have been comparable to 40%. But now, although I am still in the negative terrain, my losses are less than half of what they would have been. because i kept putting money every month. I also put money when nifty touched 3700, the current bottom and that part of the investment is currently in the profitable region and hence my losses have been reduced.

You may think that it would have then be better to 'time the market' and put the money when nifty was around 3700. There are two problems with this. First i recall a friends experience where he did try to time the market and put money after the january drop, when nifty dropped from 5600 to around 4800 or something like that. But when he invested, the market kept droppping further. Even say I would have put the money with nifty @ 3700, how do i know nifty wont drop further ? Infact in all probability i think it is going to make a new bottom in the coming year. Who knows?

Thus in conclusion, if you want to reduce the risk you better choose SIP over lumpsome investment in mutual funds. Another advantage is that for most people it is easier to arrange or save money on a monthly basis rather than doing a bulk saving.


Related posts :

• Introduction to Mutual Funds
• Tips for selecting a mutual fund
• This is not a good time to invest in mutual funds
• Liquid Funds : What, Why, How, etc.
  

Read more ...

This is a super quick introduction to mutual funds.

Mutual funds are institutions which collect money from people and invest them in the stock market. There are also mutual funds investing in gold or other things but let me write everything in the context of mutual funds investing in stock markets and the concepts will be the same for other mutual funds.

FAQ

Q) Why should one invest in a mutual fund ?
A) There are two main reasons. The first reason is that investment in mutual funds have the potential to earn more returns than standard investments like fixed deposits in a bank. For example when the Indian economy was doing good from 2003 to 2007, mutual funds have given an average returns of over 30% per anum. This is much more than any bank would have given. However, this performance cannot always guaranteed and hence it is best not to put all your money in the stock market but also keep some in the safe fixed deposits which are not subject to market risks. The second reason is tax benefit. Certain mutual funds in India qualify for tax exemption under section 80 C. However note that not all mutual funds are eligible for such a deduction. A mutual fund usually mentions if its investments qualify for deductions under 80C. It is important to remember that currently all mutual funds which qualify for deductions under 80C have a lock-in period of three years. That is if you invest your money today, you wont be able to liquidate your investment only after three years.

Q) What is NAV ?
A) NAV is an acronym for Net Asset Value. The total assets , (i.e. money or cash and current value of investments) of the mutual fund is divided into small imaginary units. The price of one such unit is called Net asset value or NAV. For example when you invest say Rs. 10,000 in a mutual fund whose price of one unit, or NAV is Rs. 100, you actually buy 100 units of that mutual fund. When the mutual fund makes profit, the price of each of its units goes up. Thus suppose it makes 50% profit, then the number of units you hold will still remain to be 100, but the NAV, or price of each unit will increase from 100 to 150. Note that mutual funds also deal with fractional parts of the units.

Q) What is SIP ?
A) SIP is an acronym for Systematic Investment Plan. This is an investment plan where you invest a fixed amount of money every month instead of investing a lumpsome amount. The obvious advantage of an SIP is that you do not have to have a lumpsome amount to invest and can plan to keep aside a fixed portion of your salary every month. But the main advantage of investing in an SIP is that it is less risky than investing a lumpsome amount. Lets take an example. Suppose you want to invest rupees 50,000. Currently the market index is at , say 4000. If you invest all money today, and if the market goes down, then you will end up making a loss. You would have done better by investing when the market goes down. On the other hand, if you invest a fixed amount periodically, you will invest a portion today, and also a portion when the market goes down. Thus you will 'average out' the market risk to some extent. Thus SIP is a way of minimizing risk. It may not necessarily be a way of maximising returns, however. For people who do not have a thorough understanding of the market and the economy , SIP is highly recommended.

Q) What is Entry Load ?
A) When you invest in a mutual fund, the mutual fund charges you a fee as soon as you invest. Currently the typical value is around 2.25% of your initial investment. This fee is called as an entry load.

Q) What is Exit Load ?
A) Exit Load is a fee which some mutual funds charge when you liquidate your investment. Typically tax-saving mutual funds do not charge exit loads. So if you are investing partly for tax saving reasons, look for a mutual fund which does not charge an exit load.

Q) What is an Open ended mutual fund or an open ended scheme ?
A) Mutual Funds in which you can liquidate your investments, i.e. sell your units any time you wish are called open ended mutual funds. As mentioned above, mutual funds which qualify for tax-saving purpose are not open ended. Moreover Open ended mutual funds often charge an exit load if you sell your units before a specified time (for example they have a typical exit load of 2.25% if you exit before 6 months).

Q) What is a Closed ended mutual fund or a closed ended scheme ?
A) These are mutual funds which have a lock-in period, typically 3 years for tax saving mutual funds. If you invest today in a closed ended mutual fund, you will not be able to sell your units and get your money back before the expiry of the lock-in period.

Q) How to exit or stop an SIP ?
A) Suppose you start an SIP in a mutual fund which has a lock in period of 3 years and after a couple of months you want to stop investing. Ofcourse since the lock-in period is 3 years you wont be able to liquidate the investment that you have already made before the end of 3rd year. But you can stop your SIP, i.e. stop putting more money provided (in some cases after you have completed 6 months) by simply giving a one month notice to the respective mutual fund office.


Related posts :

• My own experience with Systematic Investment Plan (SIP)
• Tips for selecting a mutual fund
• This is not a good time to invest in mutual funds
• ETFs in India - All those "BeES" on NSE
• Liquid Funds : What, Why, How, etc.
• GOLD ETF - Invest in gold without buying gold
• 
  
  

Read more ...