tag:blogger.com,1999:blog-17216346896110556432024-03-05T04:40:59.200-08:00' Treasure of Insights'Finance--Travel---Dance---People---Me.bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-1721634689611055643.post-46045485060811995752013-09-28T23:01:00.001-07:002013-09-30T04:13:38.325-07:00The date that went sour ~ Lunchbox<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal">
<span lang="EN-IN">Considering I am not getting paid to write
this, I am going to speak my mind. Well, I never decided to watch this movie, because
I did not expect much from a movie called the ‘Lunch Box. But with the critical
acclaim and the rare reviews it got and people salivating over it, I and my
friend decided to give this movie a shot. </span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-IN">To begin with, it’s a bloody slow movie. So if you are sleep
deprived, messed in life, bored or not anywhere close to extremely happy, don’t
go for it.<span style="mso-spacerun: yes;"> </span>You may just get tempted to
stab yourself in the midst of it. The irony is, that it’s nowhere in the box,
its way too out of the box.</span></div>
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<span lang="EN-IN">The movie however does convey a couple of things that may not be too
significant in your life or motivate you in anyway. The critics who called this
movie ‘optimistic ‘, kindly go check out the meaning, there is no tinge of
positivity in the movie. In my opinion, it could be the most sought after movie
for jail inmates, the ideal torture plan. Make them watch it over and over
again and that should suffice for them to succumb. You say I am being
‘vociferous’, well then go watch the movie and you shall know.</span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-IN">Throughout the movie I had one expression ‘Question mark ‘. Some
aspects highlighted it even more like the ones below:-</span></div>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">That 0.01% probability of the
Mumbai dabbawallas faltering was all because of this movie. They are simply not
going to like it</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Always wondered who sang those
Pandarpur songs in the train. Got to know it was these dabbawallas</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Before killing herself, a woman
ensures she removes all her ornaments, so it’s preserved for the next generation.
At least the movie portrays so</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">Bananas are the main source of
lunch for majority of population in Mumbai as it is cheap, filling and acts as
a good laxative</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Orient fans are the best source
of entertainment for coma patients. It gives them a reason to stay in coma</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">Vegetables can be passed across
from the top floor to the bottom floor by pulley mechanism including adult
diapers</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Some people do use their
suitcases as vegetable chopping tools when they travelling in trains, so that
they save on time when they have to go home and cook</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Bhutan is the happiest country.
Although their GDP sucks , they have high GNH i.e Gross National happiness</span></li>
</ul>
<ul style="text-align: left;">
<li><span lang="EN-IN" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-IN">Cooler in Matunga ,is still the
most happening place for old couples and you get the best kheema pav there</span></li>
</ul>
<div class="MsoListParagraphCxSpLast" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-IN">Sounds absurd? That’s exactly how the movie is! It conveys one line
consistently ‘The wrong train may also take you to the right destination ‘.
There is no denying the statement, but definitely put up in a very morose fashion
igniting a more negative thought.</span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-IN">To give the movie some credit, the acting is phenomenal without
doubt. Imran Khan as usual has done a commendable job with that nonchalant look
and great timing of words. Nawazzudin Sidique as ‘Irrfan Khans ‘ assistant brought
some glimmer of hope in the movie with some good comic skill and Bharati
Acrekars voice as Mrs Deshpande was the bonus point for the desolate sounding
movie.</span></div>
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<span lang="EN-IN">So watch it if you must for the actors who have done their job with
finesse and not because you generally expect entertainment – then you are bound
to be disappointed.</span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-19178078562425003912013-09-03T13:16:00.001-07:002013-09-07T13:47:27.060-07:00My Review on ' Madras Cafe'<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Good
Cinema is rare to come by and Madras Cafe was a movie that was not only quality
cinema but also very informative which delivered a concrete message in its own
unique style. To me, it was a movie I would recall for a long time as I was
immensely touched, in the manner in which it was made and how it conveyed a
strong message about the essence of humanity.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;">PLOT:-</b></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
It
begins with a harrowed looking John Abraham –aka Major Vikram wrapped in morose
and disgust, sharing his thoughts with the church priest. He confides in him,
his innermost angst and emotion and expresses his concern of the excessive
amount of ‘Fear and Greed ‘that we humans are exposed to. With deeper
interrogation by the priest, John starts narrating his tale and the rest is
history.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
John
Abraham<span style="mso-spacerun: yes;"> </span>i.e Major Vikram was a major in
the Indian army, who was dispatched to Jaffna , an area in the Eastern part of
Sri-Lanka to take control of the situation which was going out of hand on
account of the upheaval and mayhem caused by ( Anna Bhaskaran , the LTF chief )
– fictional name for LTTE . The set up is a little beyond post `1987 , wherein
the LTF was fighting for a separate province of its own and waging war against
the Sinhalese and creating ruckus with the normal civilians. The intent was to
create a separate the rights of the minority i.e the Tamilians. In this
situation India was forced to intrude as there was a major influx of
Sri-Lankans (refugees) into India and this needed to be stopped.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
At
this juncture, the Indian govt was keen on the provincial elections in Sri-
Lanka taking place and hoped that the opposition leader of LTF could be taken
into confidence. However this attempt failed and had to look into ways to
dismantle the situation. The military forces of India had failed to take
control with LTF and thus looked further into creating ways with its intel team
i.e R&AW. Major Vikram was chosen for this assignment and had to work with Robin,
Head of Intel in Sri-Lanka. However, turns out the there was leak in
information and Robin turned out to be a traitor which proves to be an
expensive deal for the Indian Govt.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
The
plot also brings in a foreign element with people from Bangkok, Singapore, US
etc who were keen on supporting the LTF due to vested interests in the
strategic location of Sri-Lanka with access to the Indian Ocean and its
bounties (My presumption here). The LTF gains more traction due to the support
of arms and ammunition from this foreign aid. The arms sent by the Indian
government for Indian army purpose was too hijacked the LTF.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
In
the interim John becomes a threat to the LTF as he managed to garner pivotal
information which thereafter led to brutal killing of his wife. This pushes
John to further get to the root of crisis and expresses his wish of de-coding
this entire trap to the, then President. With his trusted sources, he’s able to
track foreign communication and de-codes the on-coming assassination of the
ex-PM who was standing for elections and had taken a strong resolve to end the
woeful story of Sri-Lanka. This propelled the LTF head to execute a plan on
killing him.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
John
managed to track this information which was communicated to the Indian Govt who
was then helpless with limitations in provision of the security. The ex-PM
chose to ignore the information and go ahead with his rallies for the upcoming
elections.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
At
the rally in Tamil Nadu, a well trained suicide bomber and her team managed to
blow up the area leading to the assassination of the Ex-PM (Then Rajiv Gandhi)
and lives of many innocent people.<span style="mso-spacerun: yes;"> </span>With
that the movie ended, ushering in John in the same spot in the church still
morose but with the hope that things will change.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;">MOVIE MAKING: -</b> The movie is directed
by Shoojit Sircar, maker of Vicky Donor and produced by John Abraham. Together
they conceptualised a fast moving gripper, getting people glued to their seats
without wanting to budge. The beauty of the movie lied in the way they
communicated so much of information in a unique style without being too blatant
or loud about sensitive issues. The cinematography was brilliant which was
dabbled in places i.e Sri-Lanka, India and Bangkok- Singapore. The places were
beautifully captured with great clarity in nuances and the feel given was
completely of the 1980’s and 1990’s. The fresh faces used in the movie made it
look even more realistic with John carrying the movie beautifully on his
shoulders as protagonist. The sequencing was good, must say every moment was
captivating with second half being fast paced and interesting. What I cannot
miss out on is the script, which was witty, flawless interjected with
intelligent timely lines that were very though provoking. In a nutshell, a very
well researched movie which conveyed all the events in a crisp duration of 120 mins.
The movie left people thinking.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;">Take Away: - </b>What stood out for me in
this movie was the beginning and end. The end was with John quoting
Rabindranath Tagore’s famous lines on; “where the mind is without fear”. This
conveyed the intent of disseminating a fearless attitude on sacrificing for the
country and taking up the right steps for the betterment of the nation. The
movie appealed to my sensibilities, as I learnt about the whole of era of the
Sri- Lankan Civil war which ran into long 26 years leading to killing about at
least a lakh of civilians. It is a strong message to everyone on how wars lead to
only destruction and peace should be maintained for the greater good of the
society. It is an indirect hint to the politicians and decision makers on how
to ignore their vested interest, abandon greed and look into the welfare of the
common people. <span style="mso-spacerun: yes;"> </span>This take away upgrades
the movie to a new level and places it in the niche segment of ‘Must Watch’. </div>
<br />
<div class="separator" style="clear: both; text-align: left;">
DISCLAIMER : The interpretations are solely my opinion and I am strongly opinionated . Also very delayed re-view , but I knew I had to write this one. Intended for it to be a mix of the story and my interpretation of the movie. Cheers :)</div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com3tag:blogger.com,1999:blog-1721634689611055643.post-59368241872744957642013-09-02T10:40:00.000-07:002013-09-07T13:47:56.744-07:00Poco Loco<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Hola
! Spanish food in India? Well I have wanted to try that out in ages, but never
managed that until yesterday. And Yeay! It feels good, although my next plunge
with Spanish food will only have to be Spain, not India. I am sure some people
out there know what I mean. We like to experiment with food, liking that comes secondary.
Spanish was one cuisine I could not lay my hands on and now I am just content, because
I can tick it off my wish list.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
As a
resident of Mumbai, there is no dearth of eating joints. But after having
looked up, the options for Spanish seemed limited. The closest one to me was
Poco Loco, situated at Pali – Bandra next to Totos.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
To
begin with, I think the name Poco Loco is so apt –which in Spanish means a
little crazy. Crazy people in a crazy places. Nice! So how crazy it was ? Ambience is great and
pictureholics like us found it ‘picture perfect’.</div>
<br />
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
The
place is well lit and is a one flooreyed place, where the stairway led to a
nice cosy area upstairs. We chose to stay put up there. It can perhaps
accommodate about 15 people with just about three tables.So ideally not meant
for a very large group of people ;but more suited to small group of friends or
couples.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipLz07t6pXr4pPFu-9_tPMJRDCVPdrqq5c7grh2azZWSttDXO-tySIj7QfwTKKdHZHQyVb9i45UPsZLkzo5e2KiGPpRGachitUf6xx_4Vl7-_hufKfMIqNa2avLv0eapOTSPchsWNz-_s/s1600/IMG-20130831-WA0017.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipLz07t6pXr4pPFu-9_tPMJRDCVPdrqq5c7grh2azZWSttDXO-tySIj7QfwTKKdHZHQyVb9i45UPsZLkzo5e2KiGPpRGachitUf6xx_4Vl7-_hufKfMIqNa2avLv0eapOTSPchsWNz-_s/s640/IMG-20130831-WA0017.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Top Floor</td></tr>
</tbody></table>
<div class="MsoNormal">
<span style="font-family: Wingdings; font-size: 10.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-char-type: symbol; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin; mso-symbol-font-family: Wingdings;"><br /></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibaluvboN0xg_QFjQHiZglM13lprJan6sfD-LFAoegp-RzJu48rHncTcDbQKmW1s6it3i_PJdLCN1o1u4nBj0xMagDcLexFiDU7x2ZWeSM4BMhjTpVktrMEVZdbhBhsaR0NFP8hfIBB6U/s1600/IMG-20130831-WA0018.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibaluvboN0xg_QFjQHiZglM13lprJan6sfD-LFAoegp-RzJu48rHncTcDbQKmW1s6it3i_PJdLCN1o1u4nBj0xMagDcLexFiDU7x2ZWeSM4BMhjTpVktrMEVZdbhBhsaR0NFP8hfIBB6U/s640/IMG-20130831-WA0018.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">View From the Top</td></tr>
</tbody></table>
To begin we had the ‘ Ensalada de Citrocos’, in short an exotic fruit platter . A friend on fruit detox chose pick on that one. Must say it was a delight to the eye <span style="font-family: Wingdings;">J</span> . The other two of us hogged on some bread, cheese and mashed potato. The cheese was peculiarly different and I loved it. You should try that one<span style="font-size: 10pt; line-height: 14px;"> </span><span style="font-family: Wingdings; font-size: 10pt; line-height: 14px;">J</span><br />
<span style="font-family: Wingdings; font-size: 10pt; line-height: 14px;"><br /></span>
<span style="font-family: Wingdings; font-size: 10pt; line-height: 14px;"><br /></span>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCCCqmpmiQrApkCZqlsvOrAl14yEgqbr0UpiDgYsDeSYzDQA_vJMg8HiWdQNo6ZSKQx6ua5gVLefjO62YUjzQ09A9ambuSpoFWpzyWsIQ__-knBj_PAdahbBKpfw865Tmmh1gEJqgFe_A/s1600/IMG-20130831-WA0019.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCCCqmpmiQrApkCZqlsvOrAl14yEgqbr0UpiDgYsDeSYzDQA_vJMg8HiWdQNo6ZSKQx6ua5gVLefjO62YUjzQ09A9ambuSpoFWpzyWsIQ__-knBj_PAdahbBKpfw865Tmmh1gEJqgFe_A/s640/IMG-20130831-WA0019.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; line-height: 115%; mso-ansi-language: EN-IN; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">'Ensalada
de Citrocos’</span></td></tr>
</tbody></table>
<span style="text-align: justify;">Post which in entree we ordered Patata Bravas ~ Potatoes with spicy tomato sauce . Frankly this was dismal , and I ordered it specially with the reviews people had given on Zomato. It is nothing but a blander version of French Fries with your regular tomato ketchup with a fancy Spanish name. The Champinones was mushrooms tossed in garlic and olive oil. Not very impressive again , however mushroom lover that</span><span style="text-align: justify;">am, I thought it was fairly good with adequate amount of flavour.</span><span style="text-align: justify;"> </span><br />
<span style="text-align: justify;"><br /></span>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5dg30BvYlVaiUfQIAfbkK_NEALXBnjXcNGJYhHtFj9AEbubH0xIqDOpTCg-OkQnukUbOoT8fQNZjVTdiMtuupc0IogQb8A0Af4TQrVNrPnb8WI6t2d4hzU-e0yJqRTg4cAgS4ThGfoX0/s1600/IMG-20130831-WA0020.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5dg30BvYlVaiUfQIAfbkK_NEALXBnjXcNGJYhHtFj9AEbubH0xIqDOpTCg-OkQnukUbOoT8fQNZjVTdiMtuupc0IogQb8A0Af4TQrVNrPnb8WI6t2d4hzU-e0yJqRTg4cAgS4ThGfoX0/s640/IMG-20130831-WA0020.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div align="center" class="MsoNormal">
Patata Bravas & Champinones A La Plancha<i><o:p></o:p></i></div>
<div align="center" class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: small;">Post
which in entree we ordered Patata Bravas ~ Potatoes with spicy tomato sauce .
Frankly this was dismal , and I ordered it specially with the reviews people
had given on Zomato. It is nothing but a blander version of French Fries with
your regular tomato ketchup with a fancy Spanish name. The Champinones was
mushrooms tossed in garlic and olive oil. Not very impressive again , however
mushroom lover that I am, I thought it was fairly good with adequate amount of
flavour.</span></div>
</td></tr>
</tbody></table>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
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<b>'Croquetta de Mozzarella'</b></div>
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<span style="font-size: small;">After which we ordered the main course. All of us being veges ,our pick was ‘ Croquetta de Mozzarella ‘. As the name suggests , it was some sort of a roll with exhuberant filling of mozzarella complemented with basil oil and tomato cheese. Definitely stunner of a dish , although I liked the stired veges with its dressing better.Personally if I had to pick again , this would’nt be my pick.</span></div>
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<span style="font-size: small;">Holistically speaking, the place is fabulous , ambience is vibrant , food is not really up to mark ( dont know if Spanish food in Spain would be better ), service friendly and reasonably priced.</span></div>
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</div>
<div class="MsoNormal" style="font-size: 13px; text-align: justify;">
<span style="font-size: small;">If given an option , hell yes I would go there again with a different group of people and try other stuff on that menu. So, ‘<span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #212121;">Buen provecho</span>’to all <span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #212121; font-family: Wingdings;">J</span></span></div>
</div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-68906039964556520172013-04-30T10:43:00.003-07:002013-09-07T13:48:37.848-07:00'True Form of Work'<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: 12.0pt; line-height: 150%;">Most of us
believe in God and do our best to please him .Many do it in the form of various
offerings like fruits, flowers, Candles and so forth. While doing so, we also
ensure it’s the best quality and he is happy with what we give him .However
when we delve into it, we know these things are given to us by him and in turn it
goes back to him. <span style="mso-spacerun: yes;"> </span>When we pray, the very
breath is his gift. So what is it that we give, that is not given by him?<span style="mso-spacerun: yes;"> </span>This very question was put forth to God.</span></div>
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<span style="font-size: 12.0pt; line-height: 150%;">God replied “I
gave you every resource you needed .In (my) case, Food, Shelter, Clothing and
so much more. How best you utilize these and how you do your duties in the best
possible manner is the best offering you can give me “. This whole episode was
narrated to us by our mentor in the midst of an office meeting. This came up
when we were discussing quality controls with context to work/processes. The
episode implied that we can give God nothing, but when we offer our work to God
/higher self, the best comes out with ease and quality simply follows as it
leaves it no choice. And this is all he expects and wants.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">This very aspect,
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Although it is consciously never practiced .When our mentor , quoted the very
same thing , it just reinforced the thought and how true it must be ,if <span style="mso-spacerun: yes;"> </span>he had to say that with confidence backed <span style="mso-spacerun: yes;"> </span>by the immense experience he has had himself.
When we perform our duties /work with no vested interest and dedicate it to the
higher self, it just results into the best and one gets that absolute sense of fulfillment.
More than fulfillment, it leads on to working with passion and absolute
integrity……………………………..</span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-70584812739698183222013-03-16T06:49:00.000-07:002013-09-07T13:41:52.536-07:00My Understanding Of Debt Funds !!!<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;">Macro View</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: .25in; tab-stops: 436.5pt 6.25in 454.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">This
week was a loaded one with a lot of crucial figures hitting the headlines. The
WPI figure rose to 6.84% versus the January figure of 6.62%. This followed by
the IIP and CPI which came in at 2.4% and 10.9% respectively. Although the IIP figures
seemed to be better than expected, the Inflation figures were bit
disappointing. The GDP figure remained stagnant at 4.8%. If we re-view these
figures in hind sight, headline inflation has dropped from a peak of 10% in
September 2011 which seems appealing. However the growth figures have dropped
drastically from 9% in Q1FY11.<span style="mso-spacerun: yes;"> </span>With the
re-view of monetary policy on the 19<sup>th</sup> of this month, RBI is in a
pressure situation with context to cutting interest rates. Despite WPI figures
spiking as on today, the good news is that the core inflation as an indicator
of demand side pressures on prices - fell below the 4.0 per cent mark for
the first time in past 35 months, strengthening the case for a repo rate cut by
the RBI on March 19, 2013. </span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: .25in; tab-stops: 436.5pt 6.25in 454.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Why
is rate cut imperative?</span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 13.5pt; tab-stops: 436.5pt 454.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">GDP </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">has
been on a decline for a pretty long time and the further it deteriorates; the
tougher it is to pull it back to the growth phase. One of the impediments to
growth is a higher interest rate. But with Inflation ruling high, RBI was not
able to lower the rates without it impacting the economy in other ways. But
with core inflation finally cooling off and government promising to spend less,
which in turn shall mean a lower pressure on funds, a rate cut via Repo maybe
on the cards when RBI meets at its policy meet on 19<sup>th</sup> March 2013.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 13.5pt; tab-stops: 436.5pt 454.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Impact
on Debt Funds </span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 0in 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Macro
economic factors impact interest rates which in turn affect bond yields and
bond prices. The announcement of a higher WPI number, yield rates went up, but
dropped 5 bps as core inflation moderated. So based on all the above
parameters, I anticipate interest rate (repo) to be cut and as a result, bond
prices will go up to adjust for the lower interest rate scenario that shall get
played out.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 0in 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">At
this juncture, the question we should ask is, if the interest rates in India
are turning around, what fund in the debt segment should one invest? </span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 0in 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">The
answer to this ultimately depends on the horizon of the investor. The short
term debt fund is good for a tenure that is less than a year. The factors that
become more pertinent are the liquidity situation and thus a CRR rate cut would
imply better returns on a short term fund. However, for an investor who is
comfortable locking in funds for a long term, this is a good time to invest in
long term bonds funds to ensure that he locks up his funds at the current
yields which are reasonably higher than what can be got in the future when RBI
starts to cut interest rates to stimulate the economy.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; tab-stops: 0in 436.5pt 6.75in; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Where
to Invest?</span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">With a plethora of funds available
in the Mutual Funds – Debt segment, it is important to pick the appropriate fund.
After evaluating the macro scenario and the debt investment duration, the fund
evaluation is the last step to the process. The long term debt fund involves
Income Funds, Gilt Funds and Dynamic Bond Funds.</span></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-right: 4.5pt; text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">The top 3 picks are:-</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">IDFC
SSI Invest A (G):- </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">This fund was launched way back in June
‘2000 and is managed by Mr. Suyash Choudhary. The fund has managed to sustain
itself in the top quartile of funds, year on year which exhibits consistency in
performance. It has delivered a return of 12.37% in the last one year and a
return of 8.57% since the launch. The average credit rating has been AAA. The
number of holdings is 17 with an average maturity being 2 years.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">UTI
Bond Fund: - </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Another good income fund which
occasionally is unpleasant, but mostly it’s about pleasant surprises. It found
itself amongst the top five twice; once in 2005 and the other instance in 2011.
In recent times, the fund is seen to more actively manage its maturity bets. It
is fairly consistent in its performance which does not deviate too far from the
category average and has a long term track record to back it up. The fund
maintains a high quality portfolio with majority of the investments into
debentures and government securities.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">Morgan
Stanley Active Bond Fund: - </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%;">With an inception as
late as 2009, the fund has picked momentum and is one of the best performing
funds. It had its share of initial glitches; however we anticipate a good show
in the times to come. It is a fund for investors with lower risk appetite with
a portfolio of just 10 securities and an average maturity of 3.18 years. The
quality of security is good and well maneuvered by Mr Ritesh Jain.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-right: 4.5pt; mso-add-space: auto; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-16345611830916414292013-01-24T07:29:00.000-08:002013-09-07T13:41:29.275-07:00My Encounter with the Book 'The Checklist Manifesto"<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">All of us
want to be associated with success .And most times we would wonder, what is it that
successful people do so differently? Are they necessarily gifted with more
inherited intelligence? Perhaps, there is no denying that .But is that the only
reason why they end up being successful.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">I so
disagree. That would just be an excuse to shield our laxity .The latest book
that caught my fancy, simply reinforced that thought. The book was called the
‘Checklist Manifesto’ and written by a very renowned surgeon called ‘Atul
Gawande’. Now this book isn’t as glorified as the name suggests. But it simply
gives us the magic of what ‘simple’ checklists can do.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">The author
despite being a surgeon has explored into areas beyond his expertise. To
highlight its importance, he researched into construction of sky –scrapers,
aviation and Investment Banking. He has emphasized the fact, that profession is
irrelevant, but the usage of checklists stands inevitable. And this thought is
definitely that ‘secret’ that these successful people possess.<span style="mso-spacerun: yes;"> </span></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Being in the
field of surgery, the author gave umpteen examples on how a simple checklist
saved lives and brought complications to a very base level. He explained the
routines that take place in an Operation Theatre and how minor changes done in them,
gives a better result. He drilled into the importance of how every member in
the OT had a key role to play and how pertinent every member is while hoping
for a successful outcome. Generally, as he put it, an anesthetist’s role is
usually undermined. But he highlights the crucial pointers like timing, quantum
and patients past history /allergies that are needed to be taken into account by
the former. In a similar manner, he explained the importance of nurses and
resident surgeons. He further highlighted the importance of having a team
meeting of all the members with the consent of a common checklist. This led to
better harmony and understanding when the actual proceedings were being
conducted. </span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">The book gave
a glimpse on the author being approached by WHO (World Health Organization) and
how this common checklist was implemented in select hospitals across the world.
It brought into lime light the common problems faced by all doctors across the
globe and how these solutions can be incorporated by everyone in their
checklists. What caught my attention was the fact that the best brains are
capable of making the most trivial of errors. Errors like operating on the
wrong patient, dissecting the wrong side, leaving objects inside the body etc. These
factors also seek place in the checklist. The objective that was considered in
these checklists was to assess what the worst case scenario would have been and
what is the best possible solution and requirement that could have been put
into place. <span style="mso-spacerun: yes;"> </span>Thus the experiment of a
common checklist which was implemented in the poorest to the richest of
countries reduced surgical complications by 36% and deaths by 47%. So, as seen
the checklists may seem very rudimentary and rigid in nature but they certainly
help improvise and not repeat errors. </span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Now aviation
was another aspect he highlighted. In Surgery it’s about a life, however in
Aviation it’s about many lives. In this case, it’s more than imperative that
they use a checklist. In an example, he highlighted how the plane ascended in
the Hudson River and timely sent lifeboats saved all lives. He also explained
how the co-pilots role is not considered as crucial and that aspect cannot be
ignored. The very communication and coordination of the pilot and co-pilot with
use of checklists helped save lives in this case. </span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">He even
transcended to areas of Investment Banking and how the best of investors use
the checklist. He quoted an example of the Value based Fundamental Investors
who studied companies for months together to infuse their money. However, they
did make mistakes and lost some money on account of some judgment errors. These
aspects were enlisted, so that same factor is not missed out on while assessing
another company /investment bet. </span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">To sum it up,
he quoted Discipline as the prime factor which must be an integral part of
every individual’s life. It must be that extra cost that one must pay to derive
that success one dreams of getting. We are not born to maneuver our bodies and
minds as per a fixed schedule and checklist. When that extra push is given and
discipline is maintained, we turn extra –ordinary from the ordinary. And that’s
certainly the secret of people who touch the pinnacle of success. </span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-56555667153480153792013-01-22T03:23:00.001-08:002013-09-07T13:40:55.747-07:00Is Equity the Multi – Bagger amongst all Asset Classes??<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: 12.0pt; line-height: 150%;">One of the
most predominant features of the ‘so –called ‘developed economies is its depth
in their financial markets and the financial Industry, with about 30% of their
savings being infused in the market instruments. However, Indians in general do
not seem to have the faith, of their savings being captured in the gamut of
market instruments. The recent affairs seem to have consolidated this fact. The
year 2012, saw 55,000 cr being redeemed from the Equity Mutual Fund Space
wherein FII’s pumped in $23 Billion in the Indian Markets.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Now those
figures are mind – boggling .Its enticing as to why less than 5% of the
household Savings in India is invested in Equity Mutual Funds. This write up
pretty much tries to analyse that.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">One of the
primary reasons, of course is the lack of investor education and how there is
no substantial penetration in the Tier2, Tier 3 cities. These figures, even
made SEBI wake up from their slumber and take some rectifying actions. The
Rajiv Gandhi Savings scheme launched in September was one of the primary steps
taken to incentivize investing in Equity with tax breaks as an important
feature. The next step was incorporating more safety measures for a retail
investor with Regulations like Direct Plans and Actions on Mis-selling. Perhaps
this would propel the retail towards the equity market.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Another
concrete reason why an Indian abstains from putting the surplus in equity is
his/her belief in physical assets like Real Estate and Gold. It’s undoubted
that these asset classes have given phenomenal returns over varied time frames.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">But the
corollary to this is , the equity is not well analyzed .Every asset class has
its pros and cons .And the Equity as an instrument is devoid of too many cons. Let
me name a few pros to begin with which is not a pre-dominant feature in the
other physical asset classes. They are Liquidity, Diversification and
Systematic Investing or Leveraging risks. Generally Investments are made with a
certain purpose /goal. When that goal needs to fulfilled, liquidity becomes an
essence that cannot be missed on. Diversification into different categories or
Schemes of equities makes the scope of loss even lesser. Systematic Investment
Planning across time frames will average out the bears and bulls garnering
sumptuous returns. So these pros give Equity an edge.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">To further
assess, a chart of performance asset classes is extracted. The premise being, Equity
Mutual Funds is the universe of Diversified Equity Segment, the Real Asset
considered is the Delhi –NCR region and data considered is till March, 2012.</span></div>
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<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">The chart
suggests that the last three years equity has done marginally better than the
Real Estate Category with a 29 % CAGR returns compared to a 27%, where as in the
5 year period it was a dismal 8 % CAGR. An exceptional year of 2008 ushered in
the down-slide. However, if we increase the band-width to a ten year horizon
then 23 % CAGR in Equities with additional features of liquidity, Professional
Fund Management and Diversification of Risk is a feather to the cap. Even gold
hasn’t managed to cope with those figures despite being the best hedge against
inflation and financial turmoil. Real Estate undoubtedly managed to win the
game in terms of returns, but the hassle may not be worth it. Real Estate
generally implies locking up a huge corpus, piled on with EMI’s and the
exorbitant high interest rates in India, maintenance of the property and not to
forget insuring it against the worst come scenarios. All these hassles are
eliminated in Equity, though the risk of capital erosion will always be pertinent.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Taking all of
the above into consideration, the next thought that comes to us is the future
of these asset classes. If analyzed well, we understand that the upside of the
equities is Unlimited whereas the upside of Real Estate and gold is limited.
Wouldn’t we all agree to that? </span></div>
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<span style="font-size: 12.0pt; line-height: 150%;">The equities
are at a nascent stage in India and the scope of growth is massive. Every
developed country has immense depth in its financial markets and that step
would be taken for us to reach that pedestal. According to us, the financial services
are bound to see phenomenal growth. As the chart below deciphers, the upside
from 1991 upwards .Most likely the trend will remain upwards. One of the
prominent reasons being the growth of the Companies underlying will always see
more growth than GDP of the country and that has been the trend of any growing
economy.</span></div>
<br />
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<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">The reason
for limited Upside in Real Estate will be for varied reasons like Expensiveness
of liquidity, lack of availability of Service Urban Land and thus Land
Acquisition costs will sky rocket, Delays in Approvals and general pace of
construction. All these factors could certainly prove to be detrimental for the
sector. The 96-99 plummeting of prices in Real Estate prices is a live example.</span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">Equities when
compared to Gold are a clear cut winner in terms of performance over years.
Gold is an exhaustible commodity with its set of cons. Its utility scope is limited,
purely used for hedge and sentimental reasons and thus usually not recommended
more than 5-10 % in an individual’s portfolio.</span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<span style="font-size: 12.0pt; line-height: 150%;">To further
highlight Gold v/s Equity, this chart has been extracted. Over the span of
thirty years, Rs 100 invested in 1980-81 in Equity has culminated to Rs 10,060
and Gold is Rs 1690. There is a very good possibility that the next thirty
years could give similar returns.</span></div>
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<div class="separator" style="clear: both; text-align: center;">
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<b style="mso-bidi-font-weight: normal;"><u><span style="font-size: 12.0pt; line-height: 115%;">Conclusion: -</span></u></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"> </span></b><span style="font-size: 12.0pt; line-height: 115%;">The final verdict after understanding
the asset classes is that Asset Allocation is imperative and every individuals
risk appetite should be measured. Real Estate and Gold are certainly not bad
Investments. However it demands a lock in of huge amounts which may not be
affordable after a certain point in time for majority of the population. As we see,
the prices today are sky rocketing and is an investment option which is
confined to the affluent class. In comparison, equity has a good scope. If
investments in equity are done with absolute discipline, appropriate study and
Expert-advise, then garnering decent returns and achieving goals will be an
easy deal.</span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-28986597471334422562013-01-11T11:03:00.002-08:002013-09-07T13:42:17.981-07:00RBI V/S THE GOVERNMENT !<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">The GDP is seen at its 8 year low at about 5.5 % v/s a WPI
inflation of about 7.6 which is not as bad as in comparison to the last 3
years. So the predominant question that surfaces is whether growth is the
primary agenda or is it about curbing inflation? The RBI has been incessant on
maintaining its stance on having lower headline inflation and thus having
strong resistance in cutting down interest rates any further. The previous repo
cut happened in April 2012 with the likelihood of it happening again on the
29-1-2013. The CRR rate was cut by a 25 basis point earlier this year. The
normal notion lies that the CRR rate cut is followed by the cut in the repo
rate.</span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">However the question that still lies to be answered is</span><span style="color: red; font-size: 11.5pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-hansi-font-family: Calibri;"> </span><span style="font-size: 11.5pt;">how important is it to cut
rates at this juncture. Will growth re-surface if the interest rate cut
has been implemented? The fact that is intriguing is why growth was prevalent
in the last three years when inflation kept rising. The several factors that
could have led to a decline in growth is the high levels of corruption, higher
subsidy bills, poor distribution channels, slower reform processes and the
languishing pace of infrastructure . This contributed to growth plummeting and
inflation rising. So to my knowledge unless these problems are rectified there
is no scope of steady or increasing growth. </span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">The next question that features is what are the ramifications of
an interest rate cut? This will propel an increased corporate and retail
borrowing, which will in turn lead to increased growth. Currently the
government is only trying to curb expenditure but without increasing sources of
revenue. The recent measures of divestment, rationalizing diesel prices (which
do contribute to inflation) were some of its means to curtail expenditure</span><span style="color: red; font-size: 11.5pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-hansi-font-family: Calibri;"> </span><span style="font-size: 11.5pt;">.Hence it becomes
imperative for new sources of income to be generated.</span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">Printing of money will only lead to inflation. So productivity and
supply side constraints are the main parameters that would be the primary
agenda to limit inflation. However, there are certain factors like import bills
of crude, gold and increasing real estate prices which is putting a massive
pressure on expenditures and inflation. It is a known fact that India as a
country charges a very nominal sum on its oil products in turn leading to
losses for the oil companies and the government treasury. If crude products are
rationalized and market demand –supply oriented then, it will contain or reduce
expenditure.</span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;"> The recent moves by the
government seem to have ignited a certain positive sentiment in the market. It
is evident that the government is compelled to act in perspective to the
elections that are featuring in a year’s time. The FDI in retail and Aviation
was essentially a strategic move to setting the economy in momentum and other the
policy overhauls in mid September 2012 worked in the governments favor.</span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">So again I come back to the question what is more essential growth
or curbing inflation. What seems to be a graver problem? In my opinion,
everything is linked. So if growth features in with the requisite productivity
and streamlining of processes and reforms happens then inflation will wane off
gradually to a decent level. Though the RBI is not wrong in resisting the rate
cut, the prospects of growth versus that</span><span style="color: red; font-size: 11.5pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-hansi-font-family: Calibri;"> </span><span style="font-size: 11.5pt;">seems higher. Obviously the
impediments and deterrents needs to be eliminated and investments on factors
like infrastructure should be a priority to stay in tandem to the general
growth.<o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaVakZMlWmvVY3G_l_6Z_lkTgrlg1zr9o9sn78GLcxNnooMDo-w1lBf5z_JZb6ANaBGe0oa6BhLgf1Hulh47sOY8TeoaJ-ZomQOqpKhkKOfMIhhfFD_nIJcEQ13oj5nTLtmSjpNprDPxM/s1600/INDIA+INFLATION+RATE.bmp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="358" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaVakZMlWmvVY3G_l_6Z_lkTgrlg1zr9o9sn78GLcxNnooMDo-w1lBf5z_JZb6ANaBGe0oa6BhLgf1Hulh47sOY8TeoaJ-ZomQOqpKhkKOfMIhhfFD_nIJcEQ13oj5nTLtmSjpNprDPxM/s640/INDIA+INFLATION+RATE.bmp" width="640" /></span></a></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: 11.5pt;">Thus there has to be a balance in curbing expenditures and
increasing revenues. Though the RBI would have its own reason, curtailing the
fiscal deficit should be a priority as India has a problem of twin deficit
which involves current and fiscal deficit which has to be the government’s
primary concern. That generally leads to the Rating agencies downgrading our
bonds and leading to a lesser inflows of FII money. We all know if that inflow
was absent, then the depth of our market would have been a very shallow deal.
And the 20 K Sensex currently would have stayed put at about 4-5 k (An
approximate figure). Foreigners have purchased a net $18.7 billion of local
shares this year, the most among the 10 Asian markets tracked by Bloomberg,
excluding China. India's gross domestic product will increase 5.8% in the year
through March 31, the Reserve Bank of India said on October 30, the slowest
pace since 2003. This implies the consistent positive sentiments and growth
prospects will have to sustain to attract investments from global arenas.</span><span style="font-size: 13.5pt;"><o:p></o:p></span></span></div>
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<span style="font-size: 11.5pt;"><span style="font-family: Arial, Helvetica, sans-serif;">Thus if these reforms and measures sustain ,if the import bills
and subsidy bills reduce and corporate earnings increase, then the rate cut is
possibly a very good measure and reduced inflation will follow suit.<o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvyizb1WOIqggWNiNy__pXM1xGQwNSRTH39KqHmoRnK95TOq-D3j3ZOYncsbqhIKoiN57cZ5lqk36BOsDaYhGtia3_DyGob6bBz0VjVWuBGafOQDivo3_CFnO6uGRhn9uCz6s9lSjpGBY/s1600/SENSEX+PE.bmp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="358" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvyizb1WOIqggWNiNy__pXM1xGQwNSRTH39KqHmoRnK95TOq-D3j3ZOYncsbqhIKoiN57cZ5lqk36BOsDaYhGtia3_DyGob6bBz0VjVWuBGafOQDivo3_CFnO6uGRhn9uCz6s9lSjpGBY/s640/SENSEX+PE.bmp" width="640" /></span></a></div>
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<span style="font-size: 15px;">Source of Image :Economic Times.</span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com2tag:blogger.com,1999:blog-1721634689611055643.post-30989057685893009182012-12-23T09:27:00.000-08:002013-09-07T13:42:48.369-07:00Tryst with 'Wankhede'<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwXso6G8tXXffffJuaB0Y6JOGXXVUt4NVb0yqX00g4xuUsx0um6VWet5g7edfHrydvn_75xbn5WOtAqLQZ8G8jTYj42Qhsy9OkoAjpfFYVahggSr-JobnCx1JNgUbaIJBqvmBDGHmopok/s1600/wankhede.bmp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwXso6G8tXXffffJuaB0Y6JOGXXVUt4NVb0yqX00g4xuUsx0um6VWet5g7edfHrydvn_75xbn5WOtAqLQZ8G8jTYj42Qhsy9OkoAjpfFYVahggSr-JobnCx1JNgUbaIJBqvmBDGHmopok/s640/wankhede.bmp" width="640" /></a></div>
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<span style="font-family: Georgia, Times New Roman, serif;">Everything should be experienced once in a lifetime they say
.And being An Indian, it is an atrocious crime if you dint like Cricket -1 and
2 – If you dint go see a match Live. I personally never was into this game, but
curiosity always kills the mice & ME. So when my office colleagues (All
Cricket fanatics) asked me if I would like to come, I complied. The ticket cost
a good 1500 bucks (In my head at least 2 tops or 1 bag or 1 shoe equivalent or
3 visits to the Comedy Store).</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">Speaking about the match, it was the T-20 format against
England. The T-20 made me wonder of its transitions across years from the good
old Test Matches to the ODI’s and now this .Cricket seems to have adapted well
to blend with the Gen Next. I must say if Cricket were to be personified, he
would have been an amazing husband adapting to all needs.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">The match started at 7 pm and trust me if you have never been
for any of these matches, leave at least like by noon (doesn’t matter which
area of Mumbai you reside) cause the organizers would have ensured to create
some hell for you. We booked our tickets online and so we have to collect our
tickets, obviously prior to standing in the queue. Mindlessly, you would expect
that the entry to the venue and this ticket collection counter would be in the
same area (by that I mean at least 100 – 200 meters distance). But it isn’t as simple as the Cricket Game in
itself. They manage to place it in Cross Maidan which is a good 2 kms away from
Marine Line & Gate NO 5 that we were to enter from. By the time I collected my ticket, I felt
like I played a game of Mini- Scotland Yard. </span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">Wankhede Stadium – The name is funny and so are its entrances.
A friend said Chinaswamy stadium in Bangalarooo has 18 entrances, then what
happened to this one, why just two? Another very pertinent question to the
architect .Did you just not like Mumbai or the people here. The miles of line
waiting to get in are worse than the lines at the passport offices. (Organizers
please fix that soon), i.e. if you think
Cricket will continue to rule, with Sachin ‘No more ‘ in the picture as the ‘
Cricket GOD ‘ chose to retire.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">Well, this is just the start. If you do get stuck outside and
wish to communicate with anybody inside, forget about it. No chance that Vodafone
or Airtel will help you. The Vodafone dog is not permitted inside. But if there
is some hope, then it’s the Aircel users .Yes you heard me right. Always keep
an Aircel sim handy incase you go there; it may just not let you down.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">The sight as you enter is amazing .That view from the fourth
level height does look good. This one
thing is worth it undoubtedly. But as time passes, all you need to see is some
constant action like hits or wickets. Mind you it is very different from what
you see on TV. The view on television is hundred times extrapolated. You catch
on every emotion and everything about it seems euphoric. This game was more of
the 1-2‘s and seemed less exciting than the test match unfortunately. To feel
excited, we did all the screaming we could for Sidhu Paajis Yellow Turban, the
Arrogant Dada (Saurav Ganguly) who chose not to wave at us and the flying paper
rockets that landed well near the fielders. Also mandatory do’s are the (flag
painted on your face , a India jersey with your name on it , annoying whistles
and trumpets that blow into peoples ears ) . These factors get you into the
groove and perhaps / maybe get you the camera footage. Or carry a shirtless kid and wave it around. This
too manages to give you some camera footage.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">If you do read this, you may not see too much of the ‘real’
cricket. .Well honestly there is nothing worth mentioning. If Yuvraj Singh was
the only bowler who could do some damage and the other bowlers included Piyush
Chawla, Dinda and Ashwin, who were chilling around the boundary line leaving
catches, you truly know my plight.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">And mind you, hunger will happen and thirst will come on
account of the cumbersome exercising you would have done to get in. But don’t
you dare get tempted. The samossas will mess your stomach, the cold drinks is
just ice water and all this for 50 bucks each. The dominos mini- mini pizza (i.e.
size of my palm) is 150 bucks. What will save you this wrath are those waves
that keep happening in the stadium. Its simple .All you got to do is get up with
hands up and move like the wave .This will keep happening alternately across
all segments in the stadium and you should scream. That sight will fill you up.</span></div>
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<span style="font-family: Georgia, Times New Roman, serif;">Criticism apart, I must say the match got exciting in the
last over and we lost at the very last ball which got hit for a six. I would go
again, maybe for IPL .The energy levels is possibly more and the experience
could be different. The feeling when you catch hold of the sight from the top
is certainly ethereal. And all those looking out for a crash course in weight
loss, this is more than ideal. Television is good, but stadium once in a blue
moon with friends is fabulous.</span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com2tag:blogger.com,1999:blog-1721634689611055643.post-53361464835173324082012-11-04T11:57:00.000-08:002013-09-07T13:43:51.071-07:00'Dainty Lion' with the 'Ferocious BHAT's'<div dir="ltr" style="text-align: left;" trbidi="on">
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.blogger.com/video.g?token=AD6v5dz014o_qSiMmAzBu-taSx-lcjMfqxEYxPo4Gh8CEmYlNULhpFcs76NH1lRUXAkg8eslpKPZ1lcVWpNRRdCu' class='b-hbp-video b-uploaded' frameborder='0'></iframe></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">As I look back to
those years, I recall all the annual family vacations we have had. And this
year was no exception .Every year we put in a lot of thought into deciding our
destination, however this year seemed more of an impromptu deal. Gir forests
–The Home to Asiatic Lions in Gujarat, were not something I heard of too often,
but when I did read about it, I was sure it would translate into an exciting
trip. As nature and animal lovers, this seemed like the best option.</span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">As I read a
little more about places worthy of checking out, I came across this place
called ‘The little Rann of Kutch’. It is supposed to be a smaller replicate version
of the actual ‘Rann of Kutch’ in Bhuj, which is artificially created. As we had
time constraints, we decided to spend a day here. We took the Duronto Express,
which reached Ahmedabad at 6 a.m in the morning. This place as mentioned is
located in a village known as ‘Dasada’, 110 kms from the station. On our way,
we took a halt to munch on the fresh ‘Fafda’ prepared in the local shop there.
Obviously we were looking forward to catching authentic Gujrati food.</span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">The place that we
stayed was called the ‘Rann Riders’. It’s a beautiful resort of sorts that
transcends you to a very ethnic surrounding .It was indeed a well planned space,
with beautiful cottages, loads of greenery, peacocks –ostriches-ducks trotting
all over and the occasional camels .The cottage was well equipped inside with a
mix of modern and traditional. We were lucky to have a swimming pool right
outside our cottage. The food however here was a disappointment as we did not
get the authentic Gujarati food that we expected. We got the typical
continental stuff as loads of ‘white skin’ frequented this place.</span></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoNAv5nJRi1Og69OOVr55-AnWftg-3Onh6j4bJTAGcoXgrJ4hC9jxD2MRjnbWJYhyWNtQxVx8X0RjFG1uplDzXKhZU_I7hU_282pTnY2ugbZRhSDnmNRqIJqt2vyhJoP6lAZ8Mmtj56_Y/s1600/DSC03978.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoNAv5nJRi1Og69OOVr55-AnWftg-3Onh6j4bJTAGcoXgrJ4hC9jxD2MRjnbWJYhyWNtQxVx8X0RjFG1uplDzXKhZU_I7hU_282pTnY2ugbZRhSDnmNRqIJqt2vyhJoP6lAZ8Mmtj56_Y/s640/DSC03978.JPG" width="640" /></a></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> <b>(Outside the cottage: Rann Riders).</b></span></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVew-tDfdvoPcsO82WqlB8piImVpx7qkYsC_ikhKEg-JuxPaWXp3UEIlyjJfCcYPzDJVMTib_6_lCw9fPaZDyz3-T8QdgSv6ZqoRQ4wIou_TugTJ0D2EUxfHpDf5aM6StC6cegz2pI8Ng/s1600/DSC03950.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVew-tDfdvoPcsO82WqlB8piImVpx7qkYsC_ikhKEg-JuxPaWXp3UEIlyjJfCcYPzDJVMTib_6_lCw9fPaZDyz3-T8QdgSv6ZqoRQ4wIou_TugTJ0D2EUxfHpDf5aM6StC6cegz2pI8Ng/s640/DSC03950.JPG" width="640" /></a></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> <b>(Loads of these waddling around :pleasure)</b></span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="mso-spacerun: yes;"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> </span></span></span><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">‘Nomadic’ and ‘Restless’ that my family is, we
chose to explore and scout for things to see outside the resort. The nearest
thing we could catch hold of was the ‘Sun Temple’, popularly known as the ‘Vav’
in Gujarati i.e. a ‘Well’. This was 45 kms from our resort. At first sight, I
knew why it was called the ‘Vav’ or the ‘Wow’ as I call it. It was truly
breath-taking and very unique. It was a 30 feet deep well, with hundreds of
steps leading down to it. The walk down was full of captivating ‘sculptures’
perhaps made 100’s of years ago. It was a mini adventure walking down and
clicking pictures all through was fun. This place was also surrounded with a couple
of temples which were adorned with intricate stone work. It reminded me a
little of the ‘Dilwara’ temples in Mount Abu. But these were equally
magnificent. And all those who thread this path, should certainly make a visit
here.</span></span></span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEijjjvWcte4H3cBKBQNkU7b2o_GslQbndyEaji2Wo-wZx4v71nOUckgGlHmgiv6hJcdl-Q9xEeSsJVOdf6TPu4xLsxuR6stR7WNdMzDKNGQpfse4fWrkzTg4F-TYHArejaeQYeKGIzF8/s1600/DSC04017.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="476" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEijjjvWcte4H3cBKBQNkU7b2o_GslQbndyEaji2Wo-wZx4v71nOUckgGlHmgiv6hJcdl-Q9xEeSsJVOdf6TPu4xLsxuR6stR7WNdMzDKNGQpfse4fWrkzTg4F-TYHArejaeQYeKGIzF8/s640/DSC04017.JPG" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b>'THE VAV'</b><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"><br /></span></span></span></td></tr>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Early next
morning, we drove down to the mini ‘Rann of Kutch’. To be very honest our
expectations seemed to have been washed down a little. It was a barren land
with white sand, filled with ‘Wild Asses’. Yes the name seems atrocious. But
that’s exactly what they are called and happens to be rare breed of a ‘horse.
They were indeed wild, as they kept fleeing away as we kept approaching them.
The only other thing that we saw here was the pretty ‘flamingos’ alongside a
lake in there. This place is also filled with salt pans. But that somehow did not
add taste to our visit.</span></span></span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJyqjEv_qhDIum7_IbooIiYNdoIOQfN-lB-Dr-uqfbGTLuvrY4WsdXuDd-S5xwPr1E1bw3ljtIJTrwBUtXa-cpEpw4uhLDGqtdvMSxYoYDmLdLBdWGE20NSlmu6hc0DGzmJ4VNhrvoZE4/s1600/DSC04084.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJyqjEv_qhDIum7_IbooIiYNdoIOQfN-lB-Dr-uqfbGTLuvrY4WsdXuDd-S5xwPr1E1bw3ljtIJTrwBUtXa-cpEpw4uhLDGqtdvMSxYoYDmLdLBdWGE20NSlmu6hc0DGzmJ4VNhrvoZE4/s640/DSC04084.JPG" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">The 'Wild Asses'</td></tr>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Our day in Dasada
seemed fruitful though, as the resort ‘Rann Riders’ truly seemed like another
heaven. From here we drove down to Sasan Gir situated in the district of
Junnagad, good 350 kms away. It was a long 5-6 hour drive which was indeed very
tiring. We stationed ourselves at ‘The Club Mahindra’ Gir Resorts. This place
was pleasant too, but certainly not as well planned as the ‘Rann Riders’.</span></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrVazZSRyUaXY06815f3VaW-wvhH231v2gBp-1ecf0H_3imp-82W5ZjkqEKGjmyybg8PD7h-rCjOYVmx774_sCfDkRp4x51i41qRWFDyJfqtPwWt2SSiLbNm_h9tikmaamrVcjr5eHGuU/s1600/DSC04243.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrVazZSRyUaXY06815f3VaW-wvhH231v2gBp-1ecf0H_3imp-82W5ZjkqEKGjmyybg8PD7h-rCjOYVmx774_sCfDkRp4x51i41qRWFDyJfqtPwWt2SSiLbNm_h9tikmaamrVcjr5eHGuU/s400/DSC04243.JPG" width="400" /></a></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">The next morning
we left for what we came for, the Jungle to spot lions. Early morning, apparently
is the best time to spot lions as the weather is pleasant, and the probability
to spot lions in the morning was always higher. As we entered there were
multiple routes where many jeeps dispersed including ours. All of us got
restless after driving into the jungle for a couple of kms as we did not spot
any. However the guide informed us that the jungle was home to 46,000 deer and
410 lions which raised our hopes of seeing them. Along the way we spotted a lot
of deer and peacocks which were in herds, as the guide narrated his zillion
experiences with the lions.</span></span></span><br />
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">As we ventured
deeper into the jungle, the guide said he had spotted ‘fresh’ pugmarks. Sheer
experience I say. A further drive down translated his words into reality. A
lion had just managed to quench his thirst at the lake and walk past us. We
clutched our hands and gave a small squeal of excitement. Obviously, as we had
never seen it beyond the cage. Being the King of the jungle, it strolled at its
own pace, as we trudged in the jeep behind it. But let me tell you this king
was in the mood to entertain us. Atleast that’s what we assume. It kept turning
behind in the pretext of fiddling with the plants, and posed as we clicked
away. This went on for an extensive ‘half an hour’. Finally it chose to budge
and walk into the sidelines and into the jungle. But the show wasn’t over .It
came close to us with a drift of just 5-6 feet and gave us that ‘loving’ look.</span></span><span style="mso-spacerun: yes;"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> </span></span></span><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Again that’s what we presume. Perhaps it had
other intentions. But that gave us the opportunity to get closer pictures and
videos. It then walked away with that grand finishing touch. By now we had a
fictional ‘crown’ placed on our heads and that momentary ‘high’. Yes but this
was a ‘male lion’ and generally found single unlike their female counterparts
which are found in prides.</span></span></span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-t3GijuLOy3a7pp578IhoLKk3ezMSzDQeQB2nNhseUJqngZ_5g6FY5DCmvYWOKfBR-ojWP3oQZtVzKyiLpXyuCdXJ4lJpjU2A2kN6CunbrCAdgJjtxqbdvdT9cXVYZkytuyW6cF-nVz4/s1600/DSC04206.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="476" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-t3GijuLOy3a7pp578IhoLKk3ezMSzDQeQB2nNhseUJqngZ_5g6FY5DCmvYWOKfBR-ojWP3oQZtVzKyiLpXyuCdXJ4lJpjU2A2kN6CunbrCAdgJjtxqbdvdT9cXVYZkytuyW6cF-nVz4/s640/DSC04206.JPG" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b>'The pretence stint'</b></td></tr>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXL7gCbtartXqF9HWwQ8iBmx2MqHwd61Oeogp60v1okLdK_eD4qmxb4k0-NrBwiCNvL6AmzDKapjvWMlE3HSD9-j7UiJVj6x5Jw4toclvucZqLN9cC_Iw7aKr4_1-G9jAeO8RhKwXrlks/s1600/DSC04207.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="478" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXL7gCbtartXqF9HWwQ8iBmx2MqHwd61Oeogp60v1okLdK_eD4qmxb4k0-NrBwiCNvL6AmzDKapjvWMlE3HSD9-j7UiJVj6x5Jw4toclvucZqLN9cC_Iw7aKr4_1-G9jAeO8RhKwXrlks/s640/DSC04207.JPG" width="640" /></a></div>
<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> <b>'About turn'</b></span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">After this
ethereal experience, there was another one in the offing. That evening we
decided to drive down to the Somnath temple. This was 52 kms of drive from GIR.
We reached the place about 7p.m in the evening, in time for the Aarti. I must
admit though that I got to this place with absolute reluctance as I considered
it to be like any other commercial temple. I felt ‘angrier’ when I figured;
cameras weren’t permitted in the premises. As the adage goes ‘When you expect
the least, the surprise elements are enormous ‘. This temple showcased a movie
that happened to be one of a kind. As we seated ourselves in the open space
alongside the ‘Indian Ocean’, the movie played. It was special because it was
pure lighting effect and sound of ‘magnificent’ voice over. The light effect
was strategically placed on different areas of the temple, as the voice over
explained the history of the temple. It was a beautiful 45 minute projection,
wherein they highlighted the temples inception and how it was destroyed by
Mogul emperors multiple times in different eras, purely out of envy and despite
that it stands upright today in all its fortitude. As I feel close to the lord
Nataraja and his Tandav, the story of this temple touched me even more. In my
head I felt the need to perform here sometime in the future.</span></span></span><br />
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">With that, it was
end of another memorable day. The next day we chose to relax and stick indoors
with activities like air hockey, carom (In which I surprisingly won), scrabble
and some amount of cycling. The things that we perhaps long to do in our daily
lives. </span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">The following day
happened to be the last day of our trip and I ached to stay back. I gave it a
finishing touch by going for a ‘nature walk’ early in the morning. The guide
showed us novel birds which we mostly managed to capture with our binoculars.
How I wish we saw this in our very own Mumbai.</span></span></span></div>
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<span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">So this trip
turned out to be more exciting than anticipated. If you do plan to make a visit
to Gujarat, the places I mentioned are certainly worth it. I have yet to
explore more of the state, perhaps in one of the many years to come.</span></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Moolah Spent (For Information).</span></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Rann Riders</span></span></span></b><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">- Rs 9000 (Stay, 3 meals and the Desert
Safari for 4 people for a day).</span></span></span></div>
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</span></span><br />
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Desert Safari @ Gir</span></span></span></b><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> – (Rs 3,000 for a jeep which takes about
3 hours) (Also kindly take your permits well in advance I.e about a month prior.
Winter and summer better suited times to spot lions.)</span></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Food @ Club Mahindra</span></span></span></b><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;"> – (1k per day per person for breakfast,
lunch and dinner).</span></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">Travel </span></span></span></b><span style="font-family: "Centaur","serif";"><span style="font-size: small;"><span style="font-family: Georgia, "Times New Roman", serif;">– Approximately Rs 8.5 /km in a AC Indigo.</span></span></span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-60157906612649080022012-10-24T04:57:00.001-07:002013-09-07T13:49:04.561-07:00Fine He(Art)..!!!<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Centaur","serif"; font-size: 14.0pt; line-height: 150%;">Twelve years ago, I witnessed for the first time, a Nataraj
pose and instantly fell in love with it. At that very moment I decided to learn
Bharatnayam and pursue it diligently. And today on this Vijaydashmi day, I feel
nostalgic as that was the day I entered into the ambit of this stunning fine
art.<o:p></o:p></span></div>
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<span style="font-family: "Centaur","serif"; font-size: 14.0pt; line-height: 150%;">Every year on this very day, it is customary for all
disciples of this art to offer their new learning to the Lord .And as I look
back, I feel happy to part of this festivity every year. It has been special to
me, as I strongly believe it takes me to the very roots of our Indian culture. Pursuing
this art makes me feel truly ‘Indian’.<o:p></o:p></span></div>
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<span style="font-family: "Centaur","serif"; font-size: 14.0pt; line-height: 150%;">What makes me appreciate the art even more is how
traditionally it is conducted. By traditional I imply ‘wearing our sarees
adorned with temple jewellary, the flowers and the ghoongroos. This being
followed by ‘puja ‘to the Lord Nataraj’ and taking the blessings of our gurus
seeking success with art in the times to come. This is something I say is ‘unique’
to our country and I feel proud to a part of this culture.<o:p></o:p></span></div>
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<span style="font-family: "Centaur","serif"; font-size: 14.0pt; line-height: 150%;">Speaking of culture, our country has no dearth of fine art
dance forms. However Bharatnatyam allured me the most. It is a mix of nritta,
nritya and natyam, a combination of scintillating footwork, mudras and expressions.
It is a complete package of beauty and elegance, of course if adorned with
grace. This art comprises of various items which is compiled into a Margam.
Having said all of that, it is a life long learning experience with endless
compositions by stalwarts.<o:p></o:p></span></div>
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<span style="font-family: "Centaur","serif"; font-size: 14.0pt; line-height: 150%;">The reason I chose to write this, was I wished to share with
you the ethereal experience and facets that are attached to learning our very
own art forms. These art forms as we know are purely based out of Ancient India
and Hindu mythology. To me they are divine, and the best way to connect to the
Almighty .Keeping the art alive is perhaps one of the best gifts we can give to
the generations to come. It’s an art we should nurture before it withers away
to become ‘History’.<o:p></o:p></span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-18982248385629445442012-09-29T21:38:00.000-07:002013-09-07T13:44:16.939-07:00Mutual Funds – Long term bet?<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="background-color: white;">Mutual funds have earned a reputation that hovers between
risky and conservative. It caters to the segment that is skeptical to stocks but
still want to take a shot at it. Also it provides a platform, wherein the funds
are professionally managed by exposing it to multiple stocks. So it becomes
certain that they are not as risky as stocks but they are not as safe as pure
debt either. </span></div>
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<span style="background-color: white;">Another aspect that is generally associated with mutual
funds is that, it is a long term investment. What is the definition of long
term here, 5-7 years? The perception is that it is a more passive mode of
investment; hence consistent check is not a mandate. </span></div>
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<span style="background-color: white;">After analyzing a certain set of funds, that did not seem
necessarily true. I took a sample of funds to justify this notion.</span></div>
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<span style="background-color: white;">These are the Top 3 Funds of Top 5 AMC’s namely the <b>HDFC, ICICI, Reliance, UTI and Franklin
Templeton.</b></span></div>
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<b style="line-height: 150%; text-align: justify;"><span style="font-size: 9.0pt; line-height: 150%;">The same set of funds across the span
of last 3 years.</span></b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglRFx_m4adwuFrtf9jTnezH2SH38YHB6VQLEQkSLnoAD9zyo9Hyq4rOovPvb7Jhe7QgqfAPecS9NpNKYBJ-VkXN7HYjryoN_e59QkaRNPAP8ENJY1Ye5sdwFVwCc4KO6YZRIDn6b3OR3A/s1600/untitled.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="358" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglRFx_m4adwuFrtf9jTnezH2SH38YHB6VQLEQkSLnoAD9zyo9Hyq4rOovPvb7Jhe7QgqfAPecS9NpNKYBJ-VkXN7HYjryoN_e59QkaRNPAP8ENJY1Ye5sdwFVwCc4KO6YZRIDn6b3OR3A/s640/untitled.JPG" width="640" /></a></div>
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This is the CAGR returns that you would get, if you parked
in these funds for 5 years. The ICICI Prudential Discovery Fund (G) and UTI MNC
Fund (G) have been the best funds with an average of 12 % Annualized returns in
5 years. The average of these funds would have been 8.5 % CAGR Returns. </div>
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<b>The same set of funds across the span of last 3 years.</b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKhcrSzW2u_-5X7e7Hh6_884RURSfz275KHBTJ9fT07hY5zmKrVGt02GNZj_fi_RV7A6H6-4dtnTC9Cyrh7mKy6rfzq1f620dGDoLRnFnvE8KFQja_j45Z3lZ6_BfQd9pJfVqBfLNrGB4/s1600/abc.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKhcrSzW2u_-5X7e7Hh6_884RURSfz275KHBTJ9fT07hY5zmKrVGt02GNZj_fi_RV7A6H6-4dtnTC9Cyrh7mKy6rfzq1f620dGDoLRnFnvE8KFQja_j45Z3lZ6_BfQd9pJfVqBfLNrGB4/s640/abc.JPG" width="640" /></a></div>
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Undoubtedly there has been some consistency in the
repetition of top funds in the AMC’s across tenures. However here, the Reliance
Equity Opportunities Fund (G) and the HDFC Midcap Opportunities Fund (G) has
have given the highest returns i.e 17.08 % and 16.95% respectively. On an
average these top funds have given an average of 11.8 % CAGR returns. Certainly
that is more than the 5 year tenure as seen above. </div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghFhHII1Fkq6XI-6390Lgiiu7WimzH5VPEPZ0SbYHWqV52Itdgt3-Q3E61E1qowo7JOzoXzOaH5jicsOvQK-Bm3zLziXuLYGNySSsBKl0H1wCvOHaYgFvtbe4759ccQiPvkUZ4EHoaANo/s1600/dbe.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghFhHII1Fkq6XI-6390Lgiiu7WimzH5VPEPZ0SbYHWqV52Itdgt3-Q3E61E1qowo7JOzoXzOaH5jicsOvQK-Bm3zLziXuLYGNySSsBKl0H1wCvOHaYgFvtbe4759ccQiPvkUZ4EHoaANo/s640/dbe.JPG" width="640" /></a></div>
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These
figures evidently state the returns are higher than the 3 or 5 year tenure. The
best performing among the above, the Reliance Equity Opportunities delivered
22.22 % return in the last year and the ICICI Prudential Discovery Fund gave a
21.36 % return. The average in the tenure came to 16.8 %, way higher than even
3 year return.</div>
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<b>Further,
let’s take a peek at the worst performing funds and their returns in 5 years.</b></div>
<!--EndFragment--><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghmE9qycVhd4Lg3m9aW-sHXNCEoOCYTaYMMkPooU4AfyziR5OQyTvExJ6D5EPhJqh7w589nPalldu8Z_rqdihRXYefoej1KE616d4nAAMbbMCX1TxRgohDcwSHrzYyqNw6tjjDyhW3gEo/s1600/hgf.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghmE9qycVhd4Lg3m9aW-sHXNCEoOCYTaYMMkPooU4AfyziR5OQyTvExJ6D5EPhJqh7w589nPalldu8Z_rqdihRXYefoej1KE616d4nAAMbbMCX1TxRgohDcwSHrzYyqNw6tjjDyhW3gEo/s640/hgf.JPG" width="640" /></a><span style="line-height: 150%; text-align: left;">The
observation tells us that even in a 5 year span, there was a good possibility
of the capital getting eroded with funds like HSBC Unique Opportunities Fund
(G) and L & T Contra Fund (G) giving negative returns after five years.</span></div>
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<o:p> </o:p><span style="line-height: 150%;">Moral of the
story is:</span></div>
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<!--[if !supportLists]--><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]-->It is purely a notion that longer the tenure of
the fund, the higher the returns. There is a good possibility that the returns
dwindle, even with the best of funds. The reason being, the longer the tenure,
more the market cycles. Any bearish phase may be detrimental to the equity fund
in general, unless you are into the right/ defensive fund.</div>
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</span></span><!--[endif]-->Pick of fund becomes even more important. As we
have seen, the wrong pick of funds puts you into lurch as the years go by. </div>
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<!--[if !supportLists]--><span style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">ü<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">
</span></span><!--[endif]-->Mutual funds are not passive mode of investment.
It requires consistent monitoring and replacements as and when market cycles
change.</div>
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After stating whatever I did above,
I do accept that there are funds which you should stay invested in for a long
tenure. But that quotient will be a very small figure, and tracking that is
difficult. Thus reviewing becomes imperative.</div>
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*** All opinions above
are personal and any further debate is welcome ***</div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-70678769630861599422012-09-20T01:12:00.000-07:002013-09-07T13:44:51.696-07:00Has the giant woken Yet ?<div dir="ltr" style="text-align: left;" trbidi="on">
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<br />
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
The
bulls seem to be surging consistently and we have seen a couple of gap ups in
the index in the last ten days. Nifty managed to cross the psychological
barrier of 5600 .The flurry of positive news gushed in with the ECB willing to
buy back bonds to the QE3 infusing liquidity .In India, there were pleasant
surprises too. The UPA government finally accelerated their reform policies.
The delayed, but the well awaited FDI’s in Single, Multi- Retail and Aviation
sectors finally got the nod .The diesel prices were hiked by Rs5 and
disinvestment in 5 PSU’s were finally implemented to eliminate high CAD issues.
These factors seem to have given sufficient boosters to the market to do some
tango.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
However,
the question that surfaces is, whether would you enter the market at such high
levels. Clearly it may not make too much of sense to the do the same. The FMCG
and Pharma stocks, being the defensive stocks generally do not run along with
the bulls. So which are the sectors that you would be able to capitalize in
these times? </div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
As
we look at the reforms that have recently propelled and the valuations, the
Infrastructure sector seems like a decent bet .The commodities like steel and
aluminum are at its lowest valuations with very limited import liability. The
domestic capacity of these commodities has been expanded, in turn catering to
the expanding infrastructure needs of the country. The hike in diesel prices
and cutting on subsidies in LPG will enhance margins of the oil companies. Infrastructure
related stocks like IRB infrastructure, Power Grid Corporation, SAIL are all
looking to rise steadily for some time.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Coming
back to investments, how would you deploy funds in the sector? In the Mutual
fund arena, there are ample thematic –Infrastructure Funds. Among those, the
AIG Infrastructure and SBI PSU Fund seem lucrative, mainly due to the low
valuations. These funds have barely seen momentum since the slump in 2008. The
stock compilation is true to its theme. Funds like HDFC and ICICI
Infrastructure can also be looked into. The deterrent being, it does not seem
true to its theme but has heavy weightage on the Banking Sector. This sector is
likely to do well with the RBI cutting the CRR rate 25 bps and general positive
credit sentiment. The down side of these funds seems minimal.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="mso-no-proof: yes;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
This
graph depicts the CAGR returns of the month August, 2012. The Infrastructure
and Banking clearly underperformed in the month. The situation seems to have
retraced to some extent. Another good bet is the Media sector Mutual Funds. The
Sundaram Entertainment Fund and the Reliance Media Fund may give you some
positive returns in the times to come with factors like mandatory digitization
and 74 % permit in FDI for broadcasting.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
If
you like the above or perhaps dislike it too! Please do give me a feedback.</div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com2tag:blogger.com,1999:blog-1721634689611055643.post-28905007801001431372012-09-18T14:58:00.002-07:002013-09-07T13:46:07.209-07:00Percepts of a Market Novice<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Markets
are funny. And I say markets are sadistic too. My mere stint in them for three
months has taught me a lot. It has the ability to engulf you, woo you and then
discard you like the UPA did to didi. (Haha that was seriously funny though). (In
this case I don’t care about the knee jerk reaction but admire the confident
stand by the party. Kudos. I say India has finally landed.) .</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
What
I understand is that markets purely work on the mechanism of supply and demand.
So the price at what you buy or sell plays a crucial role. But who gets trapped
in this mechanism? Yes you and I, who think markets, are soaring, and before
you know, it’s all gone. Well let’s face it; we have to be extra cautious backed by consistent expert advice, before we plunge into it.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
When
I say this I recollect the TV advertisements which feature in stunts. They come
with a disclaimer ** Do not try this at home / without an expert .It is
dangerous **. I can perfectly correlate the market to the same. I agree when
financial advisors claim that equity is the best asset class to get superlative
returns as it beats inflation and is devoid of tax and so on. However there lie
the clauses attached. </div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Let
me just elaborate with hind-sight. The market crashed in 2008, followed by a
massive bull run in 2009. The horizontal stint continued in 2010. 2011, it fell
considerably. Until now 2012 seemed dull, if not for the sudden Bull Run. The factors
pertinently being the ECB Liquidity move, QE3 and now the UPA reforms. However,
when we look back, how many of us would have known the exact points of
deflection. Markets are evidently too quick to factor in any news. So the
moment you blink, market has reacted and run way ahead. Ok now you wake up, and
say I wish to join this marathon run too. You start to accumulate and by the
time you realize, you shall be accompanied by bears.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Another
prominent dilemma I see that many us would have faced. Buy, when the IPO is
launched on a high, and then wait till we reach our graves for the prices to
reach those levels again.(Somehow reminds me of Facebook). My observation tells
me, that it’s psychological to plunge into the market when it’s at the peak. Everyone
is hesitant in the bear zone. But common sense states buy low, sell high. Well
I’m guessing we shall all learn that after we get into the ring and get
crushed. (Including me at this stage). </div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Let
me further elaborate more on my personal observations;-</div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<!--[if !supportLists]-->-<span style="font-size: 7pt;"> -</span>When you do invest (especially with bottom- Up)
Approach look into the fundamentals backed by the technical’s of the stock .If
you don’t understand, ask your expert to give you a review of both .It
certainly works best.</div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<!--[if !supportLists]-->-<span style="font-size: 7pt;"> -</span>Understand
sectors. Not all work in your bullish run. The Pharma and FMCG sectors seem to
be in a committed relationship with the bears. They are defensive in nature. So
they will not make you, your moolah in buoyant markets. Or keep it for a long
time frame. Most likely to work. The Infrastructure sector is good ally of the
bulls.</div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; text-justify: inter-ideograph;">
<!--[if !supportLists]-->-<span style="font-size: 7pt;"> -</span><!--[endif]-->Mid-cap and small caps mostly outperform large
caps in the Bull Run. On the flipside, they may not work in weak zone. And
small caps will get wiped off.</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
Ok,
so if you ask me what does the market say now? I say the bulls are not
exhausted yet. There is good scope for the Sensex to hit the 20 K levels. What
stocks look good to me? I say Onmobile Global, Shalimar paints, Dish TV,
Syndicate Bank, Polaris, Corporation Bank, MT Educare, Dena bank ( Above 105 –Target
125 ) , Motherson Sumi , NRB Bearings .( All on a upside of about 20% ).</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
So
markets are cruel but can be endearing. You can love them and hate them at the
same time. But I’m certain it’s difficult to leave them. So, I say we devour it by upgrading our
knowledge and skill sets. Because it’s an exciting place to be!!!</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
*** Disclaimer:
Invest in these stocks at your own risk and if you do book profits, send me
some***</div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-8089069384316071112012-07-29T00:27:00.001-07:002013-09-07T13:46:51.468-07:00Cast Away<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">It’s Saturday afternoon and I have nothing concrete to do. I see
the contents of my hard-disk .Yes; I’m in the mood to watch a good movie. A
friend gave me a couple of new stuff and one of this movie was called ‘Cast
Away ‘ .The protagonist was played by ‘Tom Hanks’ and directed by ‘Robert
Henrick’. Well I heard it was a classic and decided to watch it.<o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">It began with the protagonist being this employee of Fed Ex
who was obsessed with time and wanted to ensure his delivery standards were impeccable.
Well yes, fair enough. He was a workaholic and due to which most of his
relationships were put on the back burner. Correct, not correct, don’t know? To
each his own. <o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">Then comes the day when he was summoned to Malaysia to check
on the processes there. As the aircraft was flying over the Pacific Ocean, it
suddenly faced a deadly storm .The aircraft succumbed and so did the fed ex
employees in it. But fate had a different story for ‘Chuck Nolan ‘(Tom Hanks).
He managed to survive with this float and was thrown on a desolate island.<o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">Now begins the real story. No job, no people, just sheer him
and the island. In the beginning he’s desperate with several attempts to get
help. However that seemed futile. He even tried to kill himself by hanging
himself with a rope .But the branch broke, thus another reminder to him that he
was meant to live. He accepted his fate and chose to move on. Some Fed-ex packages
were sent to the shore. Most of the items inside seemed useless (divorce
papers, video tapes, girls dress, volleyball). However, most of these things
become useful when there’s absolutely nothing to your aid. As he was dying of hunger
he had to make do with whatever was available. He satiated his thirst with
coconut water and learnt the art of nailing fishes. To add on to it, he learnt
how to make fire purely out of wood and friction. Something that we read only
in our history books but never experienced. He also managed to extract his own
tooth and became his own dentist. That sight was disgusting as blood gushed out
and that pain put him to sleep. Compelling times enforces compelling remedies. The
volleyball turned into his best ally, at all times whom he could confide into everything.
He called it ‘Wilson’. This is the best part about the movie. The relationship
between the man and inanimate object is woven so well .It actually seemed so
beautiful. Nature and he merged as one entity. He made weather charts and could
forecast what was coming. Something that most us would not be able to
comprehend as we are too busy to watch nature closely or we have sabotaged to
it to an extensive level.<o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">Four years that he lived there, he craved for his loved ones
.Something that he did not value too much with his job .He cherished them now even
more. More so, he thought it was about time to take the risk and venture out of
the island .Isolation was something he could not deal with anymore. He managed
to make a raft with logs tied together .He used the video tapes for it. A
plastic plank found on the island was used as a sail. He managed to construct a
pretty formidable structure. Made me wonder and understand, that our brain is a
beautiful faculty and can be used in the most creative manner when needed .It
prompts you when desperation or need glides in. He tied his ‘Wilson ‘securely
to the raft as he was his only companion. He managed to sail quite a distance
but lost ‘Wilson’ in the journey. Four years had made him tired and weary and
so wasn’t alert enough when Wilson moved away. When he woke up to realize it,
he was shattered. His emotions were so real ,it made me want to cry too.<o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">Finally, a ship located him and took him back home. Most of
them had assumed he was dead. The fed –ex team hosted him a grand welcome back
party. But he did not feel ecstatic to be back as his long time girlfriend had
married someone else because of his long absence. Her photograph was the sole
inspiration for his survival on a lonely island .Coming back and not having her
felt void and ruthless. Made him question the very purpose of his existence.<o:p></o:p></span></i></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify; text-justify: inter-ideograph;">
<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">This movie probably dint have the perfect ending, although I
loved it thoroughly. It had so much silence unlike the chaotic movies today
.But it brought in a lot of meaning .Every emotion was captured so well .His
transition due to circumstances was enthralling and kept me captivated
throughout. From the first time he eats a ‘raw fish and crab ‘to how
conveniently he knives out blood from his palms to create Wilson again.<o:p></o:p></span></i></div>
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<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">From what I gather from the movie is, we as human beings feel
it’s easy to conquer nature and make it dance to our tunes. But nature will
always take its course. The storm brought the protagonist to live like the most
primal human being .That’s how perhaps people lived once upon a time until we
ushered in technology and probably will live like that again cause nature will
have its threshold. Also how important it is to nurture relationships and value
it because it’s painful when you get isolated and there’s no love .That the
basic most thing in our DNA.<o:p></o:p></span></i></div>
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<i><span style="background-color: white; color: #333333; font-family: Tahoma, sans-serif; font-size: 8pt; line-height: 150%;">This writer has somehow visualized it perfectly and the
director has executed it carefully capturing every nuance of movement and
emotion. This movie is certainly an impressionable one and will always be on my
‘all time favorite list’.<o:p></o:p></span></i></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-64016634636663063282012-07-24T14:23:00.000-07:002013-09-07T13:49:23.871-07:00‘Not Phony’<div dir="ltr" style="text-align: left;" trbidi="on">
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<i><span style="font-size: 10pt; line-height: 115%;">Well writing a blog at this time at
night may just seem gibberish. But I seem to have the intense urge to tell you
what it’s possibly like to live without a mobile phone for like the last five
whole days.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">I was a ‘phoneaholic ‘like most
people nowadays as my eyes yearned for the sight of the phone every few seconds. I
had to reply to every whatsapp message spontaneously. Saying this I recollect a lot of
people warning me about my phone addiction and how it could perhaps just
disorient me. But that’s obviously something I chose not to take seriously.
Then finally life chose to teach me to live without it.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">In the beginning when I left my
precious thing in the cab I cursed my luck to no extent. Filed an ‘FIR’, checked
on the new phone models and the constant ‘feelers’ of me wanting to check on my
phone. No focus at work. Felt completely entrapped and compelled to feel
recluse .For a day I felt like the wild animal trapped in the cage, nowhere to go.
I felt completely isolated and lost cause that was my only access to mobile
information. However the more I thought about it, I realized something very
essential just happened. Life just asked me to shut up and take that needed
break.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;"> Slowly and gradually it felt nice. It gave me
the space and time to introspect and know what’s actually happening in my life.
I was so caught in the maze of the phone that I lost out on so much precious
time. It gave me the time to read or spend more time with family. It actually
helped me eliminate some amount of clutter in the head.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">While reminiscing, I recollect my
childhood days when we were so technology deprived .However we managed to be
more active and connected. I still managed to be way closer to my friends. The
relationships were deeper and more meaningful .Today even with the best of
technology kids have become more petty , trivial and fragile in their
relationships .My conclusion being you don’t necessarily need technology to
maintain or have beautiful relationships if the intent behind is positive.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">I still don’t have a phone as I write
this, however I certainly know it has taught me to be more judicious in the
future. However enamored you may be with the recent technology, it is bound to
lose its novelty.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">Currently I am in a consolidated period,
wherein I’m grateful for the loss of my phone .It has taught me how to save up
on so many things more precious and valuable. If people did survive once upon a
time happily without the luxury of this technology, we too can. Not that I’m
against any of it, but the balance usage of it becomes imperative.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">Pointers to mull over:-<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">*mobile phones are a luxury not the
dictator of your life*.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">*Simplicity today is rare. But I’m
positive in times to come it’ll be a more valued entity*.<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">*Everything is a cycle. What happened
in the past is destined to repeat in the future*<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">(Cause we come from nature and we
will merge back with it).<o:p></o:p></span></i></div>
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<i><span style="font-size: 10pt; line-height: 115%;">I really hope that you all validate
the same and perhaps let me know if you have experienced the same ever.<o:p></o:p></span></i></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-84098738279695158882012-07-20T11:57:00.000-07:002013-09-07T13:49:50.985-07:00Markets ,Success and You.<div dir="ltr" style="text-align: left;" trbidi="on">
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<i><span style="font-size: 9.0pt; line-height: 115%;">I am a part of the financial markets;
at least that’s what I console myself with. And I love it. Not just because it’s
glamorous or an opportunity to earn a quick buck, but cause it’s the best
teacher. There are days when I’m thrilled and top of this world and there are
days I feel like I rather not live. I sway than the worst times in the volatile
markets. Markets get affected by every sentiment and emotion and so do I. But
the point remains is that worth it. Does any one prefer a volatile market .Not really?
(Maybe the derivative guys but mostly not) .So do I want to be that volatile market.
Obviously not. <o:p></o:p></span></i></div>
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<i><span style="font-size: 9.0pt; line-height: 115%;">As an investor it is the fundamentally
good stocks that people look at .It is the stock that has sustained for years
.The main reason being its consistent and sound. It’s a disciplined entity. Its
important that you become that stock .That stock which people have cherished
over years and made ample money for others. How does that happen? .Its the
faculty called ‘mind’ that needs to be trained. It has to be nourished with the
right goals with strict discipline. It is something that you need excessive
control over. <o:p></o:p></span></i></div>
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<i><span style="font-size: 9.0pt; line-height: 115%;">Letting it trail and dominate can lead
you to that downtrend. I have learnt couple of things the hard way and I still will
continue to. It is that dedicated ‘focus ‘with absolute ‘planning acumen’ that
will give you that boost. The markets highlight the very same thing. The one’s
who are disciplined with their timing and have the focus of their targets, are
the ones who manage to make some money. (As they say nothing comes free).<o:p></o:p></span></i></div>
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<i><span style="font-size: 9.0pt; line-height: 115%;">Another thing that I was thrown light
upon recently was the concept of ’technical analysis’. I do feel lucky that I’m
learning from the best guru of ‘technical’s who’s none other than ‘Dr. C.k
Narayan .And I’m the happiest cause I get to interact with him daily .The funda
of this concept says ‘price is everything’ . It intrigued me highly but slowly
and steadily it made a lot of sense. (Read about it if you can). However I correlate
this price to a’ character ‘. The price is the character of the stock. It gives
you a gist of the stock. Likewise for a person the ‘character’ is most
important as it forms the yardstick for the future .Its a gamut of lot of
actions .A good character in the long run is likely to gain .That’s nature.<o:p></o:p></span></i></div>
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<i><span style="font-size: 9.0pt; line-height: 115%;">So at this stage, I look at it this way.
Can I at the end of my life ‘write a book ‘on something similar to ‘efficient
market hypothesis</span></i><i><span style="background: white; font-size: 9.0pt; line-height: 115%; mso-bidi-font-family: Arial;">. Life will be like the markets with its ups and down, but you have to
be the stock that’s resilient. Life is not perfection; it has to be converted
into one. When circumstances are not in your favor, you have to be that ‘Negative
beta’ stock which still sways the other way round. <o:p></o:p></span></i></div>
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<i><span style="background: white; font-size: 9.0pt; line-height: 115%; mso-bidi-font-family: Arial;">Success is a relative term but it will only be the asset of the few who
possess the above.<o:p></o:p></span></i></div>
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<i><span style="background: white; font-size: 9.0pt; line-height: 115%; mso-bidi-font-family: Arial;">(Written to motivate you and me.)</span></i><i><span style="font-size: 9.0pt; line-height: 115%;"><o:p></o:p></span></i></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-67556846414201930392012-06-29T13:12:00.000-07:002013-09-07T13:50:14.344-07:00Mental Web<div dir="ltr" style="text-align: left;" trbidi="on">
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<a 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" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="data:image/jpeg;base64,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" /></a><i><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 115%;">It is a deterrent</span></i><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 115%;">;</span></div>
<div class="MsoNormal">
<i>A mental calamity; <o:p></o:p></i></div>
<div class="MsoNormal">
<i>Unknown to few, known
to many;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Kills for certainty.<o:p></o:p></i></div>
<div class="MsoNormal">
<i>It knows no freedom;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Knows no joy;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>You remain in a shell;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>And mind is not
productively deployed.<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Shun the notions;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Kill the tumor;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Usher in fresh air;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>And stick to humor.<o:p></o:p></i></div>
<div class="MsoNormal">
<i>The worlds massive;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>With loads to explore;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Time is precious;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>So let’s not waste any
more.<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Abandon it,<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Loathe it;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Cause we have one life
to live;<o:p></o:p></i></div>
<div class="MsoNormal">
<i>Let that ‘it’ not be ‘FEAR’.<o:p></o:p></i></div>
<div class="MsoNormal">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-45050919792052175182012-06-23T14:23:00.000-07:002013-09-07T13:50:36.495-07:00Cafe by the beach<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal">
Man v/s Food…Well yes this story never ends. Most of us like
exploring into this specific segment.</div>
<div class="MsoNormal">
Catching up on new
restaurants and experimenting with cuisines..Well anything to pamper our pallets.</div>
<div class="MsoNormal">
I too did the same for the last couple of years..Felt like
catching up on the number of years that I missed out on. For someone as cynical
as me, most restaurants seemed like the usual. </div>
<div class="MsoNormal">
Today we chose to head to this place called ‘Café by the
beach. Beaches are not typically my thing. But somehow got a very different
vibe from this place. It was Sprawled over a large area and floored with sand
all over. Overlooking the beach as it is, some sort of equanimity prevails. The
ambience is the USP which is perfectly lit with these small caged lamps. They
were hanging all over the place and it did captivate me. As it finally poured
the weather seemed in tandem to the place.</div>
<div class="MsoNormal">
Well what we ordered? Parpadelle pasta in saffron chili
sauce, nachos and couple of mocktails. Like the look of the place, the
presentation of the food matched it impeccably. I chose to highlight the
presentation because that’s where it stopped. The taste was mediocre. Looked
perfect but perhaps not something you would relish. The mocktails perhaps were
a tad better than the food. </div>
<div class="MsoNormal">
Somehow the food is something that most people who come here
may not complain about…The ambience covers for it beautifully. For all those
who look forward to a romantic outing this place may surpass their
expectations. To top it there are these beautiful looking cottages with couches
in there. People wanting more privacy may head there too* wink wink *.</div>
<div class="MsoNormal">
Perfect place to end a stressful day and unwind. Certainly
one of the places I liked most. I rate it a 3/5.</div>
<div class="MsoNormal">
Suggest you go there and let me know..!</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<o:p> P.S : Location ; Choupatty.</o:p></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-17663955276967152402012-06-22T05:33:00.000-07:002013-09-07T13:50:57.117-07:00Equity and mutual funds....<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal">
Mutual Funds industry is in a tricky situation. This
industry experienced a very positive inflow from the span of 2003-2008.However
since 2008 this industry has seen a jerky ride.</div>
<div class="MsoNormal">
FY 12 and FY 11 lost 1.6 million and 1.8 million equity
folios respectively. The inflow was more into debt funds like the FMPS, liquid
funds and short term MIP’s. Also the gold etf’s saw a major surge.</div>
<div class="MsoNormal">
Although the top MNC’S are making a fair share of their
profits, the retail investors over the span of last four years have gained
nothing. We are at lower levels than what it was in the 2007.</div>
<div class="MsoNormal">
Currently there are many issues in India and globally that
is crippling the equity segment in general. The negative IIP ‘S, high inflation
and low GDP numbers are the drivers of the negative sentiment in the equity
markets.</div>
<div class="MsoNormal">
Globally the Euro zone is on tenterhooks. Events like the
Greece elections, G20 Meetings will help derive a conclusion. It becomes
imperative for the Euro to sustain for the positive trend to begin. Also the
QE3 in the US is an important event. The employment figures there look dicey.</div>
<div class="MsoNormal">
These factors will have an impact but a temporary one.
However the good news is that at this point the market looks fairly priced as
all the negatives have been factored in. In the past few months the market has
corrected significantly.</div>
<div class="MsoNormal">
Also interest rates have peaked out, gold imports have been
reduced and global crude prices have corrected quite a bit. The Rupee has seen
20% erosion in the year. There’s a strong buzz that RBI may further cut rates.</div>
<div class="MsoNormal">
All these factors have placed a good possibility that the
equity markets are bottoming out. The equity markets may gradually pick up from
here on. </div>
<div class="MsoNormal">
In turn the investors can be more positive about the equity
mutual funds. If interest rates further slash and debt funds are unable to beat
inflation, the obvious route is equity mutual funds.</div>
<div class="MsoNormal">
The latest news declared that <span style="background: white; color: #333333; mso-bidi-font-family: Arial;">equity </span><span style="background: white; mso-bidi-font-family: Arial;">Mutual funds ended in a green led by positive market
rally. All the funds in Equity and Balanced category advanced witnessing
no decline. The same trend was followed even by sectoral categories. None of
the funds in any category witnessed any decline.<o:p></o:p></span></div>
<div class="MsoNormal">
Knowing there’s a good possibility the markets will be a
better and if the funds are systematically chosen and actively managed, the
equity mutual funds are definitely a good arena to invest in.</div>
<div class="MsoNormal">
<br /></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-3895884194520688132012-06-22T04:21:00.000-07:002013-09-07T13:51:18.790-07:00Present and Future King :FMCG Sector<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal">
<span style="font-size: 9.0pt; line-height: 115%;">The
staggering population of 1.2 billion is generally considered to be a bane
.However if seen from the FMCG sectors’ perspective, then it’s a rooster that
lays golden eggs.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 9.0pt; line-height: 115%;">This I am
saying because an unexplored market is awaiting the FMCG sector to dawn upon
it. When I say unexplored I am implying the rural markets of India.68% of the
Indian economy resides here and accounts for 40% of Indian Economy. Obviously
the Corporates can’t afford to neglect this segment. More so about 50% of the
population is below the age of 25 years. So to the youth with additional
disposal income is another segment that needs to be tapped.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 9.0pt; line-height: 115%;"> If statistics are to be believed then the
Indian organized retail is just a mere 5% of the US $450 billion market. Thus
being the second most populous country in the world we have immense scope for
growth.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 9.0pt; line-height: 115%;">Let me put
forth a gist of why there will be momentum in this sector:-<o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Rapid increase in the rate of urbanization.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Rise in disposable incomes
enabling the companies to focus on premium product brands.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Constant innovation in existing
products from customer feedback.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Penetration to rural markets with
strong distribution channels.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Rise in rural non-agricultural
income and benefits from government welfare programmes contribute to
top-line growth for FMCG companies.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Investment in this sector stocks
also attracts investor’s attention because the demand for FMCG products is
throughout the year.<o:p></o:p></span></li>
<li class="MsoNormal"><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Media playing an important role in
creating awareness of products in rural areas.<o:p></o:p></span></li>
</ul>
<div class="MsoNormal">
<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Further let me add on to further
figures why investing in FMCG stocks is worth it.<o:p></o:p></span></div>
<div class="MsoNormal">
<b><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">SENSEX
Vs BSE FMCG Index<o:p></o:p></span></b></div>
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<a href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Returns-FMCG-Vs-Sensex-index1.jpg"><span style="color: blue; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600"
o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f"
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</v:shapetype><v:shape id="Picture_x0020_3" o:spid="_x0000_i1028" type="#_x0000_t75"
alt="Sensex Vs FMCG Sector Returns"
href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Returns-FMCG-Vs-Sensex-index1.jpg"
style='width:304.5pt;height:78.75pt;visibility:visible;mso-wrap-style:square'
o:button="t">
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<v:imagedata src="file:///C:\DOCUME~1\ABC\LOCALS~1\Temp\msohtmlclip1\01\clip_image001.jpg"
o:title="Sensex Vs FMCG Sector Returns"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="Sensex Vs FMCG Sector Returns" border="0" height="105" src="file:///C:/DOCUME~1/ABC/LOCALS~1/Temp/msohtmlclip1/01/clip_image001.jpg" v:shapes="Picture_x0020_3" width="406" /><!--[endif]--></span></a><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">FMCG sector is performing well due to
strong characteristics and dependence on consumption in domestic market. The
returns table (above) portraits that it registered lower drop in 2008 i.e.
during slowdown in the economy. The performance of FMCG sector was laggard in
2009 when economy was recovering and major sectors started performing well
contributing to growth in SENSEX. However, performance of BSE FMCG index in
2010 was outstanding on back of fiscal stimulus but got hit again in 2011 due
to European debt crisis and domestic reasons. In 2011, SENSEX was volatile and
gave negative returns of ~25% at end of year whereas; FMCG is the only sector
which gave strong returns of ~9% in 2011.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Also according to the Economic Times,
The FMCG Sector has been the best performing asset class against Nifty.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">The past five-year average returns by
the category of Equity FMCG funds have been about 19% against a meager 3.5%
returns by the Nifty. In fact, over the past three-year period, average returns
by the equity FMCG funds turn out to be as high 35%, surpassing even the
returns of Gold ETFs that gave 25% during this period. The three-year returns
by the Nifty, on the other hand, are as low as 2.9%.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Why FMCG is
top performer among other sectors?<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">In last 15 months, FMCG sector
attracted many investors and gave strong returns to them. The other sector indices
gave negative returns in the range of 2% to 38% due to slowdown in the economy,
high interest rates and rising inflation<o:p></o:p></span></div>
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<a href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Table_Sector-Performance1.jpg"><span style="color: windowtext; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape
id="Picture_x0020_4" o:spid="_x0000_i1027" type="#_x0000_t75" alt="Sector Wise Performance in Stocks"
href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Table_Sector-Performance1.jpg"
style='width:468pt;height:62.25pt;visibility:visible;mso-wrap-style:square'
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o:title="Sector Wise Performance in Stocks"/>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Let me venture into something more
captivating. They say all that glitters isn’t gold. But FMCG sector outshone
the metal by a decent margin</span><span style="font-size: 10.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">.<o:p></o:p></span></div>
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<a href="http://economictimes.indiatimes.com/topic/Gold"><span style="color: windowtext; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Gold</span></a><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">
may have outstripped other asset classes after the financial meltdown of 2008.
However, there is one segment in equities which has surpassed the returns of
even the yellow metal - the Fast Moving Consumer Goods or FMCG sector. This
sector, has in fact emerged as one of the top performing assets over the past
three years.</span><span style="font-size: 10.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">In 2009, for instance, while gold
returned about 24% in terms of absolute gains, the </span><a href="http://economictimes.indiatimes.com/topic/BSE%20FMCG%20index"><span style="color: windowtext; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">BSE FMCG index</span></a><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> generated more than 40% gains in that year alone. Similarly
in 2010, the BSE FMCG Index generated returns of close to 32% while gold
delivered returns of 23% that year</span><span style="font-size: 10.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">And even as the year 2011 may have been
a bit subdued for the FMCG sector, with the BSE FMCG having clocked just about
9.5% returns against 32 % for gold, this year so far has been another
spectacular year for this defensive sector. Since January this year, the BSE
FMCG has generated a gain of about 16% against returns of 5% from the yellow
metal.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Although a lot of investors would have
participated in the gold rally, not many would have realized that while their
investment in gold since 2009 till date may have fetched them absolute gains of
about 113% an investment in </span><a href="http://economictimes.indiatimes.com/topic/FMCG%20stocks"><span style="color: black; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">FMCG stocks</span></a><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> (BSE FMCG) would have generated about 136% during the same
period.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Investments can be done by direct
equity mode or via mutual funds.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Let us look into some company
financials that have performed spectacularly in this sector.<o:p></o:p></span></div>
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<a href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Peers-comparision1.jpg"><span style="color: windowtext; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_6" o:spid="_x0000_i1026"
type="#_x0000_t75" alt="Peers comparision"
href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/Peers-comparision1.jpg"
style='width:468pt;height:204.75pt;visibility:visible;mso-wrap-style:square'
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">The table comprise of some best listed
FMCG companies in India. The outperformers among these companies are HUL and
ITC with strong revenue Rs 199,390 mn and Rs 221,598 mn respectively in FY11.
The EBITA margin across the sector has remained in the range of ~15% to ~26.5%.
However, EBITDA margin for ITC in FY11 was 37.5%. The companies HUL and ITC
registered PAT of Rs 23,066 mn and Rs 50,700 mn in FY11.<br />
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<b><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Investing
through Mutual Fund Route<o:p></o:p></span></b></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">There are two sector funds available in
market which invests mainly into FMCG stocks. So, you can opt to invest in
these schemes considering historical returns, portfolio and risk analysis. The
returns from mutual fund schemes have outperformed benchmark index from 2009
onwards till date<o:p></o:p></span></div>
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<a href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/MF-schemes1.jpg"><span style="color: blue; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape id="Picture_x0020_7" o:spid="_x0000_i1025"
type="#_x0000_t75" alt="MF schemes"
href="http://www.ninemilliondollars.com/wp-content/uploads/2012/05/MF-schemes1.jpg"
style='width:480pt;height:112.5pt;visibility:visible;mso-wrap-style:square'
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o:title="MF schemes"/>
</v:shape><![endif]--><!--[if !vml]--><img alt="MF schemes" border="0" height="150" src="file:///C:/DOCUME~1/ABC/LOCALS~1/Temp/msohtmlclip1/01/clip_image007.jpg" v:shapes="Picture_x0020_7" width="640" /><!--[endif]--></span></a><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">SBI
Magnum FMCG Fund<o:p></o:p></span></b></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Fund background:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> This sectoral fund was introduced from July 1999. The asset
management company holding this scheme is SBI Funds Management Ltd. The minimum
investment amount required is Rs 2000 and minimum SIP investment is Rs 500. The
fund manager is Mr Saurabh Pant since June 2011.<o:p></o:p></span></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Objective:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> To achieve maximum growth opportunity through investments
mainly in FMCG stocks.<o:p></o:p></span></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Top Holdings in
portfolio:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> SBI Magnum FMCG Fund invests ~95% fund
amount in FMCG stocks. The portfolio has 14 stocks from FMCG and consumer
durable sectors. Top holdings of this scheme are ITC (~30%), HUL (~12%), VST
Industries (~9%), Marico (~8%), Agro Tech Foods (~7%), Glaxo Consumer
Healthcare (~7%), Emami (~6%), etc.<o:p></o:p></span></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Investment style:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> Invests mainly in large cap stocks with top down approach.<o:p></o:p></span></div>
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<b><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">ICICI
Prudential FMCG Fund<o:p></o:p></span></b></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Fund background:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> This scheme was introduced from March 1999. The asset
management company holding this scheme is ICICI Prudential Asset Management
Company Ltd. The minimum investment amount required is Rs 5000 and minimum SIP
investment is Rs 1000. The fund managers are Mr Punit Mehta and Yogesh Bhatt
since February 2012.<o:p></o:p></span></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Objective:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> To generate long term capital appreciation by investing
predominantly in equity and related securities of FMCG companies.<o:p></o:p></span></div>
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<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Top Holdings in
portfolio:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> ICICI Prudential FMCG Fund invests
~80% fund amount in FMCG stocks. The portfolio has 9 stocks from FMCG, textiles
and chemicals sectors. Top holdings of this scheme are ITC (~35%), HUL (~16%),
VST Industries (~8%), Marico (~8%), Britannia Industries (~7%), Page Industries
(~6%), Pidlite Industries (~4%), Dabur India (~3%) and Tata Global Beverages
(~3%).<o:p></o:p></span></div>
<div class="MsoNormal">
<u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Investment style:</span></u><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> Invests mainly in large cap stocks with top down approach.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">To conclude, I would like to say FMCG
sector is a safe bet if invested at least for the period of 3-5 years.
Companies are getting into innovative modes to penetrate into rural areas.
There could be a slight constraint due to factors like inflation due to which
margins may come under strain. However volumes will be the deciding factor.
Also HNI segment is on a rise and is so is the general income levels on the
whole. If risk needs to be minimized then fmcg sectoral funds are a better bet.<o:p></o:p></span></div>
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<span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">To reaffirm,</span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> </span><span style="font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Nielsen’s research
report entitled “Consumer 360”, the Indian FMCG market is estimated to grow to
USD 100 billion by 2025 from USD 13 billion in 2012.Hence enter when valuations
are cheap and reap excellent returns.<o:p></o:p></span></div>
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bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0tag:blogger.com,1999:blog-1721634689611055643.post-37212076441303041352012-06-22T03:42:00.001-07:002013-09-07T13:51:41.250-07:00Small Cap Funds :Lucrative or Ludicrous?<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">In the planet called financial markets, mutual fund segment is a continent. It’s a gamut of funds which may seem endless to most of us. However categories like blue-chip, sectoral and small-mid cap funds simplify it for us. This specifically helps us to filter, until we boil down to the requisite fund.<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Let us further delve into what the general sentiments while investing are, especially in context with small cap mutual fund.<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">When the rains are good, prosperity reins. So when the markets are all gung –ho and its high flying, small and midcap funds flourish. But when markets tank these funds are butchered. </span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Thus it is important to analyze, at this juncture, how investment in small cap stocks or small cap focused mutual funds has done so far and also expound on how the future looks.<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> <b>BSE SMALL CAP V/S BSE 200 Are small caps bottoming out? </b></span><b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"><o:p></o:p></span></b></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">As the graphs above indicates the BSE 200 index is far more stable in comparison to the bse small cap. The small caps are known to be more volatile stocks.<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> The graph on the left hand side shows that if one had invested a sum of Rs. 10,000 in BSE Small cap in May, 2007, five year later the investment would have returned just Rs. 8,500 - destruction of wealth. Similar investment in BSE 200 done on the same day would have fetched Rs. 11,500 in May, 2012. The graph on the right hand side again highlights the violent nature of the small caps. Investment done in BSE Small cap even at the market bottom in March 2009 would have performed only at par with BSE 200 if one were to hold it till May, 2012. Those who could sell in November 2010 would have made huge profits; but which is very unlikely in the case of retail investors. <o:p></o:p></span></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Trends</span></b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">:<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">From 2003-2008 when the bulls were feasting, the small cap mutual funds went into frenzy. However Small cap funds which were launched in 2007-08 went spiraling down with the downfall.<o:p></o:p></span></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Certain data highlights it. (%)<o:p></o:p></span></b></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"> Name of fund.<o:p></o:p></span></b></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;">NFO DATE<o:p></o:p></span></b></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;">1 Year</span></b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;">3 Years</span></b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><o:p></o:p></span></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;">5 Years</span></b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;">SINCE INCEPTION.</span></b><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><o:p></o:p></span></div>
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<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=2e352eee-7775-4bc6-b96e-1227b32c2d76"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">DSPBR Micro-Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">20-Jun-07<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">0.1<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">25.4<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">7.5<o:p></o:p></span></div>
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<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=35cc1d31-e351-4f46-bcd1-29d300276bae"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Religare Mid N Small Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">18-Mar-08<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-2.0<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">23.4<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">7.5<o:p></o:p></span></div>
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<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=af04a52d-5c2c-48c5-a6ad-c7997996a127"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">IDFC Sterling Equity</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">7-Mar-08<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-0.4<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">19.8<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">14.3<o:p></o:p></span></div>
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<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=de16aa11-4333-4310-9ddb-c74b403014f7"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">DSPBR Small & Mid Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">16-Nov-06<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-5.0<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">18.5<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">7.7<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">8.8<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=e1f394d0-b890-4d14-9f68-0a6c222888e0"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">JPMorgan India Smaller Cos</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">27-Dec-07<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-4.4<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">16.7<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-7.1<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=0029db03-54cc-4508-b42f-86f55c7be4c8"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Franklin India Smaller Cos</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">13-Jan-06<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-7.5<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">12.7<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">2.5<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">4.0<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=cfd98a8f-2f4c-4a16-9eff-d13a331a6d6c"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Sundaram S.M.I.L.E Fund</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">16-Feb-05<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-8.9<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">8.6<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">7.5<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">14.6<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=8b9f1f79-a564-4013-aabf-5cb28013f306"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">HSBC Small Cap</span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px; text-decoration: none;"> </span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">(G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">31-Mar-08<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-18.8<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">6.2<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-4.5<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=121fd68b-a146-4313-a032-984fd84d0fc0"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Reliance Small Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"> (G)<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">21-Sep-10<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-9.7<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-7.3<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 99.9pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: 18px; margin-bottom: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">BSE SMALLCAP<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 58.5pt;" valign="top" width="78"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> 20-Jun-07</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-22.6<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">4.2<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 0.95in;" valign="top" width="91"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-2.9<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 70pt;" valign="top" width="93"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">-<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">This table implies:<o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">The table above reveals that small cap funds have fared better than the BSE small cap Index on different time frames. This is mainly due to the asset allocation these funds have broadly followed. By and large, small cap focused funds invest minimum 65% of assets in small cap companies; however, they have a flexibility to invest about 35% of assets in stocks other than small caps. In other words, these funds can invest about 1/3rd of their portfolio in large caps or larger midcaps. This provides them some stability when the small caps are shunned by the market.</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;"><o:p></o:p></span></div>
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<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">The small cap fund varies with the % of small cap stock allocation. This table below gives an approximate range of small cap stocks in the fund.<o:p></o:p></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom-style: none; border-collapse: collapse; border-color: initial; border-image: initial; border-left-style: none; border-right-style: none; border-top-style: none; border-width: initial;"><tbody>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;">Scheme Name</span></b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;">Total AUM<o:p></o:p></span></b></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;">% in small cap<o:p></o:p></span></b></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;">Small Caps (in %)</span></b><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
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<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=de16aa11-4333-4310-9ddb-c74b403014f7"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">DSPBR Small & Mid Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">1205.04<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">319.82<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">26.5%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=2e352eee-7775-4bc6-b96e-1227b32c2d76"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">DSPBR Micro-Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">454.04<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">316.29<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">69.7%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=121fd68b-a146-4313-a032-984fd84d0fc0"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">Reliance Small Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">436.00<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">287.92<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">66.0%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=cfd98a8f-2f4c-4a16-9eff-d13a331a6d6c"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">Sundaram S.M.I.L.E Fund</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">468.93<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">168.42<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">35.9%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=af04a52d-5c2c-48c5-a6ad-c7997996a127"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">IDFC Sterling Equity</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">1097.74<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">143.18<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">13.0%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=0029db03-54cc-4508-b42f-86f55c7be4c8"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">Franklin India Smaller Cos</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">333.91<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">88.49<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">26.5%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=8b9f1f79-a564-4013-aabf-5cb28013f306"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">HSBC Small Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">20.53<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">17.45<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">85.0%<o:p></o:p></span></div>
</td></tr>
<tr><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-image: initial; border-left-color: black; border-left-style: solid; border-left-width: 1pt; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: black; border-top-style: solid; border-top-width: 1pt; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.personalfn.com/tools-and-resources/mutual-funds/Scheme-Finder/SchemeDetailsPage.aspx?SchemeID=35cc1d31-e351-4f46-bcd1-29d300276bae"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 9pt;">Religare Mid N Small Cap</span></a><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"> (G)</span><span style="font-family: 'Times New Roman', serif; font-size: 9pt;"><o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">17.31<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">3.36<o:p></o:p></span></div>
</td><td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; border-right-color: black; border-right-style: solid; border-right-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial; padding-bottom: 0in; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0in; width: 119.7pt;" valign="top" width="160"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt;">19.4%<o:p></o:p></span></div>
</td></tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Risk Component<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Smaller companies are more vulnerable to external shocks. Such companies may go under water if the crisis situation persists for longer than anticipated period. Small cap companies may not have the muscle to sustain losses for long or they may fall drastically if the revenue growth becomes flattish and they have a high debt to service ratio. Smaller companies often find it difficult to invest in research and development and they go completely out of flavor if the technology which made them successful becomes out dated. These risks are fundamental in nature and directly affect the return potential of your investments. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Also fund managers cannot offload a huge chunk of shares of the company at one go. It has to offloaded and bought systematically in smaller lots.</span><span style="font-family: Arial, sans-serif; font-size: 7.5pt; line-height: 11px;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Hence it becomes difficult for the fund manager to strike a balance between fundamental strengths of the company and technical difficulties in buying its common shares in large quantities.<o:p></o:p></span></div>
<div class="MsoNormal">
<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Future trip</span></b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">BSE Sensex has already fallen by more than 5% over last one month. European Sovereign debt issue seems far from solved and the markets are fluctuating like a pendulum. No rally in Indian equities has sustained so far since the markets topped in November 2010. After the recent slide in the market, small caps may have given the feeling that they have become cheaper in valuation; they might have in deed, but that shouldn’t be the basis for investing in a pure small cap fund or a fund with a higher exposure to small caps.<o:p></o:p></span></div>
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<b><span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Verdict<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 9pt; line-height: 13px;">Small caps have usually done well when markets have been robust. These are capitalized on when blue chip and midcap looks expensive. Markets seem on the lower side valuation of small cap may seem cheap .This could add to the possibility of panic selling if markets further deteriorates. So a fund with a judicious mix of small cap and large cap with the right timing to enter and exit the market seems like a prudent bet.</span></div>
</div>
bhatswatihttp://www.blogger.com/profile/05804670919499932855noreply@blogger.com0