Posted by VRIDHI on 11/02/2012
Difference between Physical Gold, ETF Gold, E-Gold
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Posted by VRIDHI on 10/04/2012
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Posted by VRIDHI on 17/05/2012
Uma Shashikant, Economic Times 14/5/2012
The frustration with the advisory tribe-variously called relationship managers, financial advisers, wealth managers, financial planners or private bankers-is high. There is a serious lack of trust, which makes it difficult for investors to implement their personal finance decisions.
Creating a trust-inducing environment for financial transactions requires a new, bold, and fair policy framework. This is likely to be a long time away since regulators are only tinkering on the margin and refuse to see the need to come together in the interest of the investor. What can investors do in the meanwhile? You can put your advisers to test before you pay heed to their counsel.
Does the planner know enough about what he is offering you? How does he deal with questions whose answers are not found in the product literature he is carrying? Is he telling you that he will ‘get back’? Does he know why and how the returns he is promising will be generated? Is he able to explain the risks? Do not be reticent to ask, worrying about your limited knowledge of products and markets.
The adviser is expected to know. If your adviser brushes aside questions with generalisations-’our manager will take care of the risks’, ‘we have the expertise to do this’, ‘this guy is a star and he will do what it takes’-keep away. The quality of conversation about what is being offered to you is a clear indicator of how much the planner actually knows. A careless one does no homework and is not worth dealing with.
Is your planner throwing jargon at you to intimidate or impress you? Do not be led astray by his sound bites; seek simplification. If he knows what he is talking about, he will be able to explain in simple, clear terms what the product is about.
There are three basic things to know irrespective of the product you choose: how is the return going to be generated? What can go wrong? What would it cost? Even if you are told that ‘in the long run, things will be fine’, you need to be told why that will be the case. Desist overt simplifications-’this is a PSU company’, ‘this the largest offering’, ‘IPOs always list at premium’. Seek the ability to distill the core features of a financial product or service in a language that you can understand.
What are the alternatives? If an adviser is suggesting a single product or plan of action and returning to it too frequently, stop him to ask for another choice. Just one more option. Is he able to tell you why you should invest in the gold product he is selling? Is there another way to invest in gold? What is the difference?
If the conversation debunks every other option and holds up what he has come to sell as the best, end it there. Look for the ability to compare options and the choice to go with what you like better. Do not abdicate all decision-making to the adviser. Getting involved with the choices helps you learn over time. However, do not allow him to overwhelm you with too many options either.
You should also know about the work flow. What happens from the time you give the money to the point it is returned to you? Ask the adviser to explain to you the operational flow of the transaction. Many people only know that they have invested in a name. They do not even know if it is a mutual fund or a bank, or an insurance company. You have to know about the entities that will handle your money. Who will keep it? Who will allocate it? How will you access it? How does it come back?
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Posted by VRIDHI on 14/05/2012
Niladri Bhattacharya & Yogini Joglekar, Business Standard 14/5/12
source: http://www.business-standard.com/india/news/irda-bans-productshighest-nav-guaranteed/474272/
The Insurance Regulatory and Development Authority (Irda) has asked life insurers to stop selling highest net asset value (NAV)-guaranteed products.
In a recent communication to all life insurers, the regulator has said, “The marketing of products labelled as highest NAV product shall not be allowed”. These products contribute almost 20 per cent to the total premium collection of life insurers.
Irda, in the past eight months, had informally expressed its discomfiture with such products at several fora. The regulator’s argument was that such products led to systemic risks associated with the way funds were managed and posed the risk of a heavy sell-off in equities when stock markets fell.
Highest NAV-guaranteed products are those that promise to pay the highest value the fund achieves during a certain period, say, five or seven years. However, to maintain that NAV consistently, insurers have to take risks by investing in stocks aggressively. That could lead to undue risks.
These products had become the largest selling unit-linked life insurance policies (Ulips), after the new guidelines on Ulips came in September 2010.
In another move, the Irda has mandated a minimum death benefit of at least 10 times of the annualised premiums in case of traditional products, as there were some products offering a limited death benefit. The regulator has also discouraged the use of single premium or limited premium payment term polices as these could impact the cash flow management of companies. Accordingly, Irda has proposed all polices have a regular payment option equivalent to the term of the policy.
Single-premium polices might be issued only under special categories.
“In most of these products, customers are being lured with the promise of a decent maturity benefit, but in case of claims (in the event of death), the benefits or the amounts are sometimes lower than the premiums. The basic underlying principle of a life insurance policy is it should have sufficient life risk cover,” said an Irda official.
The regulator has expressed reservations on policies offering “low” or “insignificant” life risk covers. Irda has pointed out three types of traditional plans on such grounds — products where the death benefit is defined as the return of premiums (with or without interest), products in which the initial death benefit is significantly high and reduces subsequently during the currency of the contract and products in which the insurance cover is insufficient/insignificant in relation to the premium i.e. products which are mostly meant for savings. “We would not allow such products. It was clearly a marketing gimmick from the insurers,” said a senior Irda official. In case of unit-linked policies, the Irda mandates a minimum sum assured guarantee of roughly 10 times of the annual premiums (in case of death). However, for traditional plans, there was no such mandate. The Irda is likely to come out with the final guidelines on product design soon, which would include all such details. It is not approving any products until life insurers design products according to the framework suggested.
"Lately more complex products are being designed and filed for F&U (file and use) clearance with the Irda. In the process of clearing these products, the Irda has noticed that features of several products are not in alignment with the best practices and, frequently, lack clarity. The efficiency of product clearance has been constrained by such features,” the Irda said in its communication.
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Posted by VRIDHI on 07/05/2012
R Srividhya, Financial Chronicle 7/5/12
source: http://www.mydigitalfc.com/commodities/trading-commodities-learn-ways-cut-losses-053
Commodity trading is prone to risk due to price fluctuations. Lately, some of the commodities trading in the futures market have been undergoing high levels of volatility. However, the market itself offers ways to mitigate losses and maximise gains in commodity trading.
“Futures trading offers high level of leverage as one can trade with the margin money. However, in commodities where daily level of fluctuation is greater than the margins, the investor can suffer heavy losses. In such cases, we always advise to limit the exposure. Further, there are orders which can be placed to mitigate loss and maximise returns,” said Santosh Kumar Narayanan, product-in-charge, zonal, JRG Wealth Management.
An order helps the investor decide when to enter and exit the market, and also decide at what price and time the position could be executed.
Limit order: This is mainly used to determine the price at which one wants to enter and exit a commodity. When the buy limit order is set, the broker will automatically buy commodity when the price arrives. Similarly, after having taken a position, one can set a limit order for selling the commodity and the order will be automatically executed if the commodity touches that price. This helps the investor to plan the returns he expects from a particular commodity trading.
Stop loss order: This is given to limit the losses in a position if the prices move down beyond one’s expectations. Stop loss order will help determine how much loss one can bear on a position. This also helps the investor when he is not constantly checking the price movement or is on a holiday.
Trailing stop loss: This order helps the investor set a percentage below the present market price. If the market price moves heavily down and goes beyond the set percentage, a sell order is triggered.
Generally, these orders expire in one day. If one wants to place orders for a specific time span, there are a few other orders available.
Good-till-cancelled (GTC) order: This makes the stop loss, limit of trailing stop loss order last till the expiry of the contract or till the contract is cancelled.
Similarly, one can specify the date for the contract to be executed. For this good-till-date (GTD) order can be placed along with the stop loss or limit order.
“Orders help one to plan the extend of losses and returns from a contract. But, one need not necessarily be able to buy or sell at the same price he had placed the order for. It also depends upon the availability of a seller or buyer at that price point. Once the order is triggered, it will be filled with the best possible price. This would be invariably lesser than the specified price in the order. But the investor can either wait to execute at the specified price or execute at the price available,” said Narayanan.
According to him, the awareness level about the orders is not adequate in the Indian commodity market. While an order can limit losses, it can also cap the returns in a bullish market. “Generally, investors are advised to use stop loss or trailing stop loss orders. The number of them who use the orders are gradually increasing,” he added.
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Posted in Knowledge VRIDHI | Leave a Comment »
Posted by VRIDHI on 03/05/2012
Do you take Pride in saying that a Bank is taking care of your Wealth?
If Yes, think again and read the article below:
http://www.tflguide.com/2011/01/bankers-biggest-mis-sellers.html
Anyone recommending you an Investment without understanding you, should be kept away from your hard earned money!
Posted in B. Financial Planning | Leave a Comment »
