Telme something, dont all fund managers try to find out stocks which are undervalued and then invest in them?? So wats so different abt this contrarian thing?? arent all fund managers trying to use the same strategy?
sbi has started sbilife and recrued the sons of this own employees and in most of the cases, only cheating and there is no help from the parent bank. regarding other products i do not inow much. however i observe that everybody about the virtues of sbi and its products,ignoring the other side of the story, its popularity is due to its sheer size and the first ever big bank. i am rather disiiluisoned with the bank
i have started an SIP in SBI Magnum TAX Gain fund .. i am already done with 4 of its installments of Rs. 2000 Each.. now i m worried after reading the message posted by Mr. DSK Rao .. i will have to give it a thought before this BULL RUN is over, and be safe.
Though i haven't been naive enough to ever invest my hard earned money in sarkari MF's no matter how good or top of the line they are. The working of UTI, MF's of banks like PNB,INDIAN BANK and maybe many more such monolith PSU's are a stark reminder of their past misdeeds and what can be expected out of sarkari babu's thinking mentality if they ever have time or inclination to put into I wonder what do with your savings!! As far as the working of SBI MF's is concerned it can be said there is some strong points but at the same time one should not forget the lacklustre working of MF's of banks like Canara bank,etc etc. No worthwhile record to show off I guess. Whats more appalying is the fact magazines like 'Outlook Money' keep on showning SBI funds as numero uno!! since time immorial.
Anyway I'll recommend funds like DSP Merril Lynch-Tiger Fund, Fidelity, Birla ( I have Birla Dividend Yield-Plus, has given me fairly good dividend and initial investment is too quite steady and have infact grown quite a bit!),Franklin Templeton or even if you still have the guts can even buy Reliance MF's. my advice-- Do your homework first before investing, talk with friends, MF advisors, read!!
I agree with the wiew expressed by Mr DSK Rao. SBI with with such a huge fund should have managed their Fund atleast at par with the Banking industry norms. I had invested Rs. 2000/- in 1993 after keeping a track record for 4 to 5 years I left hope for that and at present I am not aware of whether I got any return or not. Anyway, I do advise the investors that the things have changed, professionalism is prevailing as such the investors can place some fund, say about 10 % of their investible fund under Magnum based on the informations furnished. Further it is advisable to invest for a short term duration, say for one year.
I am cautioning people in general in investing blindly into any MF's without doing their own research. I invested Rs.10,000/ in 2001 in SBI TaxMagnum and after the mandatory lock-in period of three years I got back Rs.4118/ i.e almost 60% erosion. I wonder how a respected institution like SBI function so poorly eroding the investments (and faith) of it's investors.
Hi, It's a really nice article but it would also be great if you answer my question too. What do you mean by "short term" and "long term". Is 1 year consider to be "short term" or "long term"?
