Infographic by- The Credit Examiner
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Author: Raoji
A great video from the IDFC Foundation.
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Linkfest:Jan 03,2013
Some stuff I am reading today morning:
Rangarajan Committee seeks freeing of gas prices (Mint)
20 something college grads make it big with healthcare startup (ET)
Tata group to invest over 45000 Crores in the next 2 years (FE)
SEBI proposes overhaul of share buyback guidelines (BS)
Comparison of all tax free bond issues (OneMint)
Keep investing simple (BigPicture)
India looking to innovate with IPOs that will only go up (Dealbreaker)
State meddling in BRICs curbs equity returns (Bloomberg)
Two word investment outlooks (TRB)
John Mauldlin:This will be one of the greatest trades of my life (Climateer)
One of the astonishing aspects of the Indian Capital Markets scene is the abysmal size of the Indian Mutual fund industry.
The total asset size of Equity funds (including ELSS) is around 190,000 Crores Rs (around 35 Billion $) as of Nov, 2012. (source AMFI)
This is approximately 55% of the annual turnover of Reliance Industries !
While many people have blamed distributors/fund houses/Govt/SEBI for the mess that Indian MFs are in, one section that has been immune to criticism are the fund managers
There was a conference couple of years back where the panel consisted of fund managers.The moderator asked the panel about their personal asset allocation.It was shocking to hear that some fund mangers had less than 5% of their personal portfolio in equities.For most of them, their biggest asset was the house they lived in Mumbai !!
Its fairly clear that Indian fund managers don’t eat their own cooking and don’t have any skin in the game.
If ordinary muncipal corporators/govt employees are asked to declare their assets publicly, shouldn’t fund managers who manage thousands of crores in assets do the same?
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