Active Mutual Funds Vs ETF's Who is the WINNER

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Investor Activism by Mutual Funds

The Frustrated Minority Shareholder

This post is out frustration with the Capital Market, every day i keep hearing news about company failures wrong acquisitions and over priced IPO's. is in there any good Investor protection association in the country that can fight on behalf of us the shareholders. SEBI as usual is always the last one to react and whatever said and done as a minority shareholder I have lost my money. SEBI has never bothered to compensate me for funds i have lost or for the loss of my income. nor there has been instances were company board of directors have been taken to court for their laxity. 

My Problems are 

1. Over priced IPO's and a whole set of merchant bankers supporting it for their private gains. 

2. High Paying CEO's entry and exit and in the process leaving the company in shambles without taking responsibility for the value destruction, is there no one to take them to task.

3. Star Fund Mangers leaving fund houses and with them the NAV's also tumble and Fund Mangers who have been rash in their stock picks and hence led to heavy investor loss. 

4. mergers, acquisition, stake sale, institutional bidding etc. as minority shareholder do i have a say. why don't i get preferential allotment of shares or even rights issue. why only the top management gets it at heavily discounted prices.

5. Balance between promoter holding and minority commercial holdings who will take care of my interest the minority shareholder. 

I feel sad in being a poor retail investor. every single institution is talking about how important is the retail investor to the equity markets yet so little has been done to protect our interest or to bring the culprits to justice for eroding our wealth. 

Laws have come in place partially but point is information is not widely published. powers given to shareholders is not known and hence the big corporate moghuls take small time investors for a ride. 

“The US has the most liberal of laws when it comes to shareholder activism,” Anybody who owns ₹80,000 worth stocks, which is held over a one-year period, can force agenda into annual shareholder meetings. In the UK, you need the support of at least 100 similar groups to force an agenda into meetings. And in developing countries such as India, the rules are not even there or just evolving. I am not saying institutions or investors have not stood up against corporate miscreants. one of the earlier examples would be Grasim's take over offer for L&T. Securities Appellate Tribunal’s (SAT) decision not to vacate the market regulators’ stay on Grasim’s open offer for Larsen & Toubro shares at Rs 190 each had taken most of us by surprise. Another instance was when Reliance Mutual fund questioned Novartis about its inter group transfer of funds and why it had given loans to group companies at cheap rates. other examples would be Satyam-Mytas deal, cairn, Bank of Rajastan-ICICI etc. 

The truth is investor activism has always lagged behind if shareholder activism can be spearheaded by Institutional investors it could bring a huge difference to the corporate accountability. Intuitions like mutual funds should actually take it on themselves to fight corporate miscreants. A recent SEBI circular has given some push in regard which states "Asset management companies (AMCs) shall disclose their general policies and procedures for exercising the voting rights in respect of shares held by them on the website of the respective AMC as well as in the annual report distributed to the unit holders from the financial year 2010-11.

The sad fact is process is slow and information regarding the proceedings is always covered up and not disclosed fully. If u see Canada’s mainstream mutual funds have had a reputation as the most passive of institutional investors, (compared to the developed markets like US. Germany & London) rarely publicly objecting to companies’ activities and seldom taking the lead to vote against unpopular proposals. But signs of activism are emerging in that conservative realm. Mutual funds are now outpacing the broader pack of shareholders in voting against management compensation proposals, and in supporting resolutions from activist investors, according to a new study released. The report found mutual funds’ support for shareholder resolutions climbed from 3.2 per cent in 2006 to 21.1 per cent in 2009. And support for management proposals on compensation – most involving approvals for new stock option grants – slipped from 81 per cent to 75 per cent in the same period. A flood of shareholder resolutions asking companies to give investors an annual advisory vote on executive compensation practices – known as say on pay – have attracted broad shareholder support in the past two years, boosting overall support for shareholder resolutions across the ranks of investors. Say on pay proposals submitted at Canada’s biggest banks garnered 63 per cent support from mutual funds in 2008 and 74 per cent in 2009. Mutual funds have also begun to much more widely support shareholder resolutions on environmental and social issues. 

In the US shareholder activism has gone to such an extent that there are times were in the CEO's of big companies had to put down their papers. like the case were Home Depot CEO, Bob Nardelli had to resign because Ralph Whitworth, who is a part of the USD 7 billion Relational Investors fund, was insisting that the stock price is not going up. Then he acquired nearly 1.5% of the stock and forced the CEO to quit and finally he resigned. 

My point is Mutual Funds, Insurance companies and other Private Equity companies should increasingly start making use of their voting rights and keep the interest of minority shareholders. the SEBI should start investor compensation for frauds and price rigging which will bring some relief to the shareholders. SEBI should increase its purview to include company CEO's Mutual Fund managers and promoter mismanagement of funds. 

Difference between Gold Fund and Gold ETF

For a long time now I have been hearing about the performance of DSP Blackrock World GOLD fund. I thought it is high time I shed some light on this product before people commit further funds to this product.The post will also explain the difference between Gold Fund and Gold ETF.


A gold ETF tracks the real time price of gold in the market, it is equal to holding physical gold but the difference is you don’t take the delivery of the gold in your hands. It is electronically held, which gives the benefit of easy disposal, easy liquidity and real time prices for your gold. You don’t have to pay for making charges. Nor do you have to pay wealth tax on the gold ETF. You will fall under the debt taxation category. A gold ETF is one of the smartest way of holding gold as there is no worry reagarding safe keeping of gold and the transactions can be done for huge amounts, even a leveraged position can be taken.


A gold fund tries to mimic the price of gold by buying stocks of gold mining companies. The logic is when the price of gold goes up the profits of gold mining companies will also appreciate. Which, in turn will lead to the rise in stock prices and increase in your Mutual Fund NAV. Holding a gold fund is like holding a High beta gold investment. However, investors should note that this fund carries above-average risk. While it may deliver higher returns than Gold ETFs during a gold price rally; it is also prone to correcting much more sharply, if prices fall.The theory holds good as long as the markets are in stable state, but during times like in 2008 & 2009 the stock prices in general had dipped, however good the company was the stock prices were down. Gold Funds underperformed Gold ETF's

For the Inquisitive Investor
Here are some facts that proves that a Gold Fund held in India will under perform a Gold ETF and a Gold Fund Carries itself higher risk factors than a Gold ETF.


Disadvantages of DSP BlackRock World Gold Fund
1. The Fund is affected by general Equity Market performance as the Fund buys gold mining companies stock. Gold is bought as a hedge against equity, so investing in this fund defeats the very purpose of diversification & Asset Allocation.
2. The Fund invest the proceeds into a mother fund which is based in US as there is a very limited set of companies in India. This leads to unnecessary currency risk and the fund is increasingly affected by a appreciating Rupee. 
3. The investor ends up paying higher expenses; Fund Expenses of the Indian fund+ Fund Expenses of the mother fund which is BlackRock World Gold Fund and Expenses related to Hedging. 
4. The Fund Will not benefit from Equity Taxation it falls in the Debt Taxation segment
5. Over and above this it is also affected by the price of gold. 


My point is the fund can to do well if the rupee depreciates or stock markets do well etc. but while making an investment we should consider how does the product fit into our asset allocation basket and what are the risk factors while investing into such products is there cheaper options.  


Just to prove i am not blabbering...


A ₹100,000 invested in August 2007 in DSPBlackRock World Gold Fund would have appreciated to ₹155,000 while the same amount in an Gold Exchange fund would have appreciated to ₹197000, just look at the outperformance a huge 42%. 


I am not saying investing in Gold Mining companies is a bad option but the investor needs to be aware that he is not buying gold and hence the dynamics of Investing in Gold ETf is totally different from investing in Gold mining companies. At these levels i would suggest the fund to only an aggressive investor. 

Happy Investing!!!

Most MFs fail to match even returns of banks - The Economic Times

Most MFs fail to match even returns of banks - The Economic Times

MYTH About MF Returns, Myth about Mutual Fund returns read on...

The times Group is known for adding spice to every day mundane news. So before jumping into any conclusions on the the above report my advice to the inquisitive investor is to read between the lines. The article mentions that very few schemes managed to outperform a fixed deposit investment, it also mentions out of 30 good funds 20 gave less than 2% returns in the last two years. the point of comparison is Jan 15th 2008 Sensex@20,000 and Sept 21 2010 Sensex 20,002. They also dared to mention in 'Times of India' Paper that Mutual fund investments may not be good for the long term.  

For the Inquisitive Investor

Lets assume the banks in the last two years gave consecutively gave 8% then the compounded absolute return in the last 30 months will be approx 20%. I have enclosed on a point to point basis the absolute returns of 250 Open ended equity schemes, there are 30 schemes that have given returns in excess of 20%.

There are 90 Schemes that have given positive returns, out of that 57 have given returns in excess of 8%.

Bank FD 1 year rates from June 2008 to Dec 2008 were hovering around 8.5% and 500 day rates touched 10%. anybody who picked a 5 year deposit at that rate is a winner no doubt but the point is banks received very        few funds during that time. now 1 year FD rates are at barely 7%. were as average mutual fund returns last 1 year is in excess of 30%.

the last point is Mutual Fund Investments are long term, and by long term i refer to 5 years and above. why because you need to give them time to buy stocks hold the stocks till the value is fully realized. what if they had bought Infosys at its offer price of 95 in 1993 and sold it in 2 years because the stock had not done well. the stock went all the way to 16000. look at the value unlocked. never be impatient with stock market.

I am not saying bank investments are bad, but look at them as different asset class. Don't compare bank returns to Equity returns its like Apple Vs Mango. Bank investments are safer and hence lesser returns, equity investments are riskier hence higher returns.

Happy Investing!!!

The New GOLD - SILVER

In three years the price of silver will double and in 5 years silver will overtake gold.

Owing to my poor writing skills I might not be able to elucidate here the logic on the basis of which I am siding with silver and stating that it will become a more precious metal than gold. Rest assured, there is sound logic and undeniable facts in support of the same. 

Among the list of rationale that I am using to support silver, one is that over a period of years I have been able to spot rallies quite accurately and I see a huge rally marching up for silver. The truth is that this is not just a hunch. I have a lot of facts inside my head and a intuitive feeling developed by my subconscious mind on the basis of those facts that silver is set to touch an all time high.Well, i know that a lot of readers who just read this would go 'hmph'. Not good enough a reason for you to raise the bar for silver. 

Okay, accepted. Read further for more radical reasons. 

Like any other commodity, silver's price is also determined by the push and pull of demand and supply. Simple economics says if 'SUPPLY' is constant then, higher the ‘DEMAND’ higher the price and vice-versa i.e. ‘DEMAND’ is constant and 'SUPPLY' is more the prices trend downwards. Now let’s understand the forces of ‘DEMAND’ and ‘SUPPLY’ for silver and find out which creates a bigger impact. If ‘SUPPLY’ wins then price will trend down in the medium to long term and if ‘DEMAND’ wins then prices will rise. 

For the Inquisitive Investor - I am not proposing anything new here, all I am trying to do is arranging the facts available through the world wide web (silverinstitute.org) and trying to come to a conclusion on the movement of silver prices in the medium to long term. I have personally bought silver at Rs 30,000/Kg. I am not trying to induce a buy but just want to tom-tom about the fact that I predicted a rally. (some would say I am doing it to prove to my wife down the years that buying silver now was a better idea than a new refrigerator like she wanted)

Sources of ‘SUPPLY’

Some say Silver supplies are steadily shrinking. In 1900, global silver stocks trotted up to 12bn ounces, according to commodities researcher CPM Group. But by 1990, that figure had dropped to around 2.2 billion ounces. And today, 'above ground' refined silver inventories amount to less than one billion ounces. Indeed, for most of the last 20 years industrial demand alone has outstripped mined supply. 

Silver production was flat this year and is expected to be flat again next year. Surprisingly, the amount of mined silver has been less than its demand every single year for the last 15 years. This hasn't resulted in significantly higher prices yet because the world has been able to fill the gap from inventories and official government stockpiles. The decline in refined silver stocks, from around 2.2 billion ounces in 1990 to around 300 million ounces today means that silver stocks are near an all time low.

Silver mine production rose by 4 percent to 709.6 Moz in 2009. Gains came both from primary silver mines and as a by-product of gold mining. Regionally, the strongest growth stemmed from Latin America, where silver output increased by 8 percent, with the most visible gains recorded in Argentina and Bolivia. Peru was the world’s largest silver producing country in 2009, followed by Mexico, China, Australia and Bolivia. All of these countries saw increases last year except for Australia, where output from the lead/zinc sector declined markedly. Global primary silver supply recorded a 7 percent increase to account for 30 percent of total mine production in 2009.

Net silver supply from above-ground stocks dropped by 86 percent to 20.2 Moz in 2009, driven mostly by the surge in net investment, higher de-hedging, lower government sales and a drop in scrap supply. With respect to scrap supply, 2009 saw a 6 percent decrease over 2008’s figure to a 13-year low of 165.7 Moz. This represented the third consecutive year of losses in the scrap category.

Government stocks of silver are estimated to have fallen by 13.7 Moz over the course of last year, to reach their lowest levels in more than a decade. Russia again accounted for the bulk of government sales, with China and India essentially absent from the market in 2009. Regarding China, GFMS states that after years of heavy sales, its silver stocks have been reduced significantly.

The supply of silver is inelastic. Silver production will not ramp up significantly if the silver price goes up. Supply didn't increase in the 1970’s when silver rose 35 fold in price – from $1.40/oz in 1971 to a high of nearly $50/oz in 1980. 

Importantly, silver is a byproduct metal and some 80% of mined silver is a byproduct of base metals. Higher prices for silver will not cause copper, nickel, zinc, lead or other base metal miners to increase their production. 

There are only a handful of pure silver mines remaining. This inflexible supply means that we cannot expect significant mine supply to depress the price after silver rises in price.

Sources of ‘DEMAND’

Industrial demand for silver has consistently increased; Silver has a number of unique properties including its strength, excellent malleability and ductility, its unparalleled electrical and thermal conductivity, its sensitivity to high reflectance of light and the ability to endure extreme temperature ranges. 

Silver has the highest electrical conductivity of all metals, even higher than copper. It was used in the electromagnets used for enriching uranium during World War II (mainly because of the wartime shortage of copper). Silver has the highest thermal conductivity and optical reflectivity of all metals. Silver’s unique properties restrict its substitution in most applications.

Industrial demand includes electrical, medical, photography, Jewellery and silverware. Together, these categories represent more than 95 percent of annual silver consumption. In 2005, 409.3 million ounces of silver were used for industrial applications, while over 164.8 million ounces of silver were committed to the photographic sector, and 249.6 million ounces were consumed in the jewellery and silverware markets.

Silver is used in film, mirrors, batteries, medical devices, electrical appliances such as fridges, toasters, washing machines and uses have expanded to include cell phones, flat-screen televisions, Air purifiers, water purifier’s cosmetics and many other modern high tech devices including RFID tags.

Increasing industrial demand for silver is forecast due to strong economic growth in China, India, Vietnam, Russia, Brazil and other emerging economies in AFRICA & ASIA. Growing middle classes are now demanding the quality of life and standard of living enjoyed by many in the West and thus the demand for silver will increase.

Silver is known as the healthy metal and has many and increasing medical applications. While silver's importance as a bactericide has been documented only since the late 1800s, its use in purification has been known throughout the ages. 'Born with a silver spoon in his mouth' is also a reference to health as well as wealth. In the early 18th century, babies who were fed with silver spoons were healthier than those fed with spoons made from other metals, and silver pacifiers found wide use in America because of their beneficial health effects.

Today silver is used in many health-care products. Specifically, the ‘silver bullet’ is used by nearly every hospital in the world to prevent bacterial infections in burn victims and allow the body to restore naturally the burnt tissue. Increasingly, wound dressings and other wound care products incorporate a layer of fabric containing silver for prevention of secondary infections. Surgical gowns and draperies also include silver to prevent microbial transmission. Other medical products containing silver are catheters and stethoscope diaphragms.

In a world that is showing increasing concern about the spread of diseases and pandemics such as bird flu, silver is being increasingly tapped for its 'biocidal' properties. Research is going on the use of silver and its compounds for therapeutic uses and on its potential use as a disinfectant in hospitals and other medical facilities. 

The great nano technology has been put to great use by silver; silver particles are used in lining air filters and water purifiers because of their microbial growth prevention properties. Even Deodorants and cosmetics now contain SILVER particles.   

The rate of growth in silver has outpaced that of gold in real terms. The best pointer about silver is when the economy revives the demand for silver will rise even more; because 50% of silver demand comes from industrial houses. A recovery in the world markets could significantly give a big booster to silver demand where by demand could exceed previous highs of 900m/oz to 1200m/oz. This increase in demand and stable output will lead the prices to soar to the tune of almost $34/oz. 

On the investment side, gold has benefited from a significant participation from institutional players like hedge funds, pension and retirement funds, insurance companies, and sovereign wealth funds. So far, silver has not enjoyed equal recognition from these large players -- but this is likely to change as fund managers recognize silver's relative value and simply wish to diversify their precious metals exposure. This will also lead to more ETF’s hitting the markets which will increase silver demand further by another 200m/oz. The days are numbered when silver would be called the poor man’s Gold.

The Above mentioned reasons are the fundamental factors that can stimulate the price of SILVER and take it to new highs. I have also something else to add...


As explained earlier commodity prices should reflect market forces of Demand and Supply. but this is not the case most of the time, as we don't operate in absolutely free markets and honest players. Prices of commodity at times can behave irrationally and the duration of irrationality like our well know 'KEYNES' have foretold be irrational longer than you can stay solvent. 


Some participants in the market still feel the price of silver is being manipulated and kept at unreasonably low price due to excessive Short Positions. The unreasonably low price has depleted Silver holdings in the world and industrial consumption of silver cannot be retrieved that silver is lost forever. already commissions have been formed to investigate into manipulation of silver prices. The parties involved are Financial Institutions like JP Morgan, US Federal Reserve, HSBC. If the commission states that the said institutions are not allowed to hold such huge short positions of silver and they need to cover it... then there could be an explosion in silver price. I know the dollar could crack with the rise in Silver prices but i am no God to think of all the pros and cons.         

Mutual Fund Investment, Performance, NAVs, Returns Calculator, Compare funds

Mutual Fund :- Mutual Fund Investment, Performance, NAVs, Returns Calculator, Compare funds

STAY AWAY FROM Mutual Fund Scheme Rankings


MYTH ABOUT SCHEME RANKINGS....

Hi just felt like giving an opinion on the Performance Ranking of Mutual Funds By Moneycontrol or other related sites.

you should understand these sites show ranking of schemes based on returns achieved in the last three months 6months or a year. my suggestion never go by this methodology in picking a fund. never consider returns as criteria in picking funds. coz the fund manager would have got lucky and picked a right sector and hence outperformed its peers or benchmark in the last three months. you should look at consistency in out performance.

The other point is when Small caps rallied last week small cap Funds became the top performers(DSP Micro Cap fund), when mid caps rallied 9 months backs then DSP Small & mid Cap fund was the market leader. last year when markets were coming out of recession dividend yield funds were in vogue. all that these sites and magazines gives out is past performance. please don't invest your money based on past performance. consult a financial advisor in analyzing the risk factors before investing. micro caps and small caps can erode your capital by half if there is a market correction.

a financial advisor is responsible for your portfolio performance at least you can catch him by the collar in case anything goes wrong, news papers very clearly avoids to take responsibility for the report published.

be careful at least before investing in a particular fund understand what category is the fund investing in. has this fund performed well in the bear market 2 years back.

Happy Investing!!

Worst Mutual Fund companies in India

The ratings are purely based on my personal analysis and  experiences with the industry. 

I have rated these Fund Houses on the following factors. Details cannot be revealed as some of the data is not public information. I will explain why I think they are important. One last thing the rating is purely from an Investor Point of view so I have put myself in the shoes of an Investor to see what is good for me. Not what is good for the industry.

Factors that determined my RATING of Best Mutual Fund Houses

1. Overall performance of schemes Vis a Vis benchmark
2. Fund Management team
3. In house research Publications
4. Universe of stocks tracked in house
5. Corpus under Management
6. Scheme to Fund Manager Ratio
7. Expense ratio on different schemes
8. Disclosures in Fund Fact Sheet.
9. Variance from Investment Objective.
10. Innovativeness of the Fund House.

For the Inquisitive Investor – why I chose the above factors

Performance of Schemes – for obvious reasons. The better the schemes performs of a respective Fund House the better the Fund House is. It also helps in picking New Fund Offers due to strong Pedigree of Performance.

                                                     

Returns (rolling returns) gives a trend and helps to understand whether it is a one man show, in case he quits will it be like a ship without a captain. Again High beta performance is not appreciated, so when I say performance it is not absolute returns over a period of 5 years, but Risk Adjusted Performance i.e. how much risk did the fund house take to deliver the return obviously benchmarking it with peers.  

Fund Management Team – you need a strong team not a person driven business, as an investor I want to diversify my risk so I don’t want my hard earned money on the whims and fancies of a single person. I have somehow managed to live with the ups and downs of the stock market; I don’t want it (my money) to depend on the mood swings of the fund manager also. I expect a team of good knowledgeable individuals taking care of my fund. Secondly, I would avoid fund houses where there is too much churn in the FM Team it means there is lack of direction/vision, one more thing I would want to avoid.

In house Research – very important it just tells me how serious they are coz once you get it in paper then there is proof as to how they perceive or analyse the markets and sectors and how did it turn out to be 6 months down the lane. And as an investor I can evaluate whether  the Fund house(s) have followed what they published. (2) If I am not happy with the research quality I avoid the fund.

Universe of Stocks tracked In house is very important. It gives you an idea how far they have gone to give you that extra out-performance. It gives you an idea of the effort put in by the Fund House. If they are playing with the same top 200 stocks then I will buy an Index ETF and keep the extra expense I pay in my own hands. (2) It also tells how strong is their research, coz nowadays they outsource most of the research so dependability is a question. Markets work in real time and to make decisions real quick you need to have facts at the back of your hands.

Corpus Under Management – the bigger they are the less likely that they may fail. And the more stable they are, the more trust they can generate. Though it is highly debatable whether big funds perform well or small funds, I am of the opinion that economies of scale do matter. And as far as a fund house is concerned the more they get money into their schemes the better their performance and the cycle goes on.

Scheme to fund manager ratio – I wouldn't like to have an overburdened fund manager. One single soul juggling with different schemes different investment objectives, different stocks, etc. After all he is also human, he has his limitations just because he gets paid a crore doesn’t mean he has 10 heads/10 hands or 36 hours in a day. An overworked fund manager could have a negative affect on my fund kitty. So, I would rather select a fund house where the scheme to fund manager ratio is high.

Expense ratio – I know the Fund Managers need to get paid well after all they are as important to us as our family doctor or legal adviser . But that does not mean in the greed to make more profits they make us pay high fund management expenses. Compounding works both ways, not only on my return but on the expenses I pay them to get these returns counts as well.

Fund Fact sheet – you will find that the fact sheets of some the fund houses give out lot of  of information on the scheme. I agree not everyone is interested in the plethora of information they give out but there are some people with a research bent of mind, some advisors, who need certain information for comparison and to understand how have these schemes performed or why are these schemes different from their competitors. Especially in a debt fund there is hardly a few fund houses that publish the YTM, MTM and duration of the debt fund. I guess some funds don’t even mention the average maturity.  

Investment objective – Sometimes these fund houses break their promises. They pulled us on board saying they will invest into large caps. But soon, we discover they have started buying some mid cap stocks. When inquired, they said it is to increase returns. Investing into mid caps to increase returns is not a bad thing. But assuming, I am a very conservative investor, I invested into their fund for stability that a large cap gives not excess returns. By investing into mid-caps they have increased the risk element of the fund. 2. Fund houses should mention clearly what their respective schemes will do, they cannot mention general objectives like we will invest into stocks and securities traded in the stock market, hey I know that! That is precisely why I am giving you my money but tell me in what type of stocks you will be investing ‘A’ category bluechip stocks, mid cap stocks emerging company stocks, theme based investing, etc etc….

Innovation – finally I would want a fund house which always thinks above the rest of the crowd, not come out with plain vanilla schemes. I want them to come out with intelligent products from time to time. Products that make sense to investors and products which can help us amateur investors in the long run. A good fund house should always be one step ahead. Like I appreciate the fund house who first launched the SIP. The Fund House who thought of FMP the fund house who thought of Income funds as a retail Product.
 

   

  

This is just 12 mutual funds which I have entered and you may be wondering why I have not mentioned the other 28 Fund houses. It is because the 12 fund houses together manage around 900 Schemes which is comprehensive enough to take care of your entire investment needs. The other reason is the other mutual funds are not even worth mentioning. They have too much of fund management team churn, very less corpus and some of them are new to the street so let the kids grow up and then we will think of including them.    

The observant might be thinking why there are no 5 stars, that is because there is no fund house which I think deserves a 5 star. Just being better than the rest doesn’t deserve to be a  5 star right.

The Fund houses Rejected by Filtering; these fund houses have not been be able to be part of the Analysis.

Mutual Fund

AIG Global Investment Group Mutual Fund

Axis Mutual Fund

Baroda Pioneer Mutual Fund

Bharti AXA Mutual Fund

BNP Paribas Mutual Fund

Edelweiss Mutual Fund

Escorts Mutual Fund

IDBI Mutual Fund

JPMorgan Mutual Fund

Mirae Asset Mutual Fund

Morgan Stanley Mutual Fund

Motilal Oswal Mutual Fund

Peerless Mutual Fund

Pramerica Mutual Fund

Sahara Mutual Fund

Shinsei Mutual Fund

Taurus Mutual Fund

Anybody thinks the analysis could be done better, has any inputs or wants more clarity you are welcome to comment just use nice words. Top performing schemes, top schemes, best funds in india, best elss schemes, best equity schemes, best diversified equity schemes, 

If you are Born Poor it's not your Mistake, But if You Die Poor It's Your Mistake - Billgates

Simple and Sure - SIP

One of the most easiest way of making money in the Stock Market is to start an Systematic Investment Plan.


Systematic - Disciplined/Regular/Methodical/Orderly/Logical
Investment - Stock/Speculation/Savings/Asset
Plan - Intend/Preparation/Idea/Strategy/Design


The above mentioned are not just synonyms this is what you will be doing in an SIP. It is one of the most Intelligent way of investing into the stock market. 


SIP gives the investor immunity to fight stock market volatility but this medicine also gives the much needed kicker in your investments when compared to a Bank FD.


For the Inquisitive Investor


Systematic Investment Plan/SIP is a investment process where in an investor systematically  makes regular/periodic investments into the stock market. Think of it like a recurring deposit into the stock market. The amount can be as low as Rs. 100. The process is most effective when you do a ECS(Electronic Clearing Service) thru a bank. 


All mutual fund houses offer SIP facility all you have to do is fill a simple form and submit the application with your pan card. the forms can be submitted in any Mutual fund office or any collection centers like CAMS/KARVY. 


Some good schemes were SIP can be done...


for the aggressive Investor
   DSP BlackRock Small & Mid Cap Fund
   IDFC Small & Mid cap Fund
   Sundaram Mid Cap Fund
   Birla Sunlife Mid Cap Fund


for the moderate Investor
   Birla Sunlife Frontline Equity
   HDFC Equity
   Reliance Growth
   ICICI Prudential Dynamic Plan


for the Conservative Investor
   Bank FD/Post office saving scheme


further clarification please ask...