Diversification: The 3 Most Important Things About Investing

Diversification: The 3 Most Important Things About Investing
If the three most important things about investing in real estate are location, location and location, then the three most important things about investing in equities are diversification, diversification and diversification.
What Is Diversification?

Diversification is a basic tenet of investing. But what is diversification?
According to Dictionary.com, diversification is defined as:

1. the act or process of diversifying; state of being diversified.

2. the act or practice of manufacturing a variety of products, investing in a variety of securities, selling a variety of merchandise, etc., so that a failure in or an economic slump affecting one of them will not be disastrous.

The key phrase about diversification listed above is: “…so that a failure in or an economic slump affecting one of them will not be disastrous.” In other words, don’t put all of your eggs in one basket.

Mutual Funds and Diversification

Diversification is one of the many advantages of investing in mutual funds. When it comes to diversification, mutual funds can help an investor in two ways. First, the beauty of mutual funds is that you can invest a few thousand dollars in one fund and obtain instant access to a diversified portfolio. Otherwise, in order to diversify your portfolio, you might have to buy individual securities, which exposes you to more risk. In other words, a mutual fund allows an investor to diversify into many different stocks for a nominal investment.

Sometimes, when it comes to diversification, it’s not good enough to simply own many different stocks. For example, if you own 100 stocks within a mutual fund, and those 100 stocks are in the financial sector (a sector mutual fund), more than likely as the financial sector moves up and down, so does the value of your mutual fund. That brings us to the second point. A mutual fund also allows for diversification between various styles, sectors, countries, and, well, you name it. You can either buy a mutual fund that is broadly diversified, or you can buy a portfolio of mutual funds across various sectors -- creating your own diversification.
Risk, Reward and Diversification

In summary, a mutual fund allows for diversification between many different stocks and also allows for diversification between various sectors, styles, etc. This diversification allows investors to reduce the risk of one particular stock or sector, but also allows for more potential reward by offering a broader exposure to various stocks and sectors.

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10 Principles of Teaching Children about Money

10 Principles of Teaching Children about Money

An article published outside india.

Dear Investors,

As Indians try to come terms with the current trends in the financial markets, this provides an opportunity to teach the next generation. Here are ten principles for teaching children about money:

Talk about money. Every time money is involved, parents have a chance to teach their children the values and analysis behind their actions. Money, is one of the important topics through which we communicate our wisdom and values to our children. Every purchase, investment, or donation can be a time to teach your children something about your values.

Talk openly about money. Parent makes a mistake when they keep information from their children. The only way children learn what is a good deal and what is too expensive is by the experience of what their family earns and what items cost. Hiding this information robs children of the financial education they need.

Talk factually about money. Many parents have strong emotions about money based on their childhood experiences. These emotions are always transmitted to children. Instead of helping children, they can cripple children from growing to make sound financial decisions

Require chores; pay for optional work. Everyone in the family has to help complete the work that needs to be done. If you want to pay your children, only pay them for optional work they can choose to do or not to do.

Provide children an allowance they can make real choices with. Talk about money is important, but children need real-world lab experience to understand the consequences of their decisions. Consider giving them an allowance large enough so that they can purchase some of their own needs. Then continue to give them honest advice, and help them ask the right questions to make wise decisions based on their values.

Help children prioritize purchases. Ask them if this purchase is better than other purchases they are considering making.

Help children comparison shop. Help them consider issues such as cost, quality, and convenience.

Require children wait before making large purchases. Adults should wait at least a month whenever they are making a large purchase. Children shouldn't be expected to wait that long. Here is a good rule of thumb: Children should be required to wait as many days as they are old in years before being allowed to make a large purchase (over a week's allowance). There is always tomorrow and over half the time they won't remember what attracted them to it in the first place. Developing this habit will help make them resistant to impulse buying.

Don't use money as a punishment. Your priority should be helping to give your values to your children, not buy their outward behavior.

Don't loan your children money. If their desired purchase is something they should be saving for, let them save for it. If you want to buy it for them for the value of the experience, buy it for them. The principles are "If they want it, they have to save for it. If you want them to have it, you will buy it for them." Loaning your children money for items they want teaches them they aren't responsible and they don't have to prioritize.

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How to pick right Mutual Fund

How to pick right Mutual Fund
There has been a lot of volatility in the stock markets. This year, there have been many sharp corrections and rallies in the stock markets. Currently, the Sensex is in the 14,000 levels which is over 30 per cent lesser than its peak in January this year. The net asset values (NAV) of equity mutual funds across the board have taken a beating this year - especially the mid-cap and small-cap focused mutual funds which have a higher co-relation with the market.

Investors who entered near the market's peak have lost a significant portion of their principal investments and others have seen a significant dip in their capital appreciation. Investors who invested in the wrong mutual funds are stuck with them.

In the current market conditions, many investors are pulling out investments in equity mutual funds and investing in debt funds and instruments - liquid funds, bank deposits etc. It makes sense for short-term investors as it is difficult to predict the market direction in the short term. Long-term investors should not park funds in debt instruments as the returns in debt-based instruments will be negative after factoring in inflation. Historically, equity-based investments provide positive returns over the long term. Long-term investors should look at investing in good equity funds systematically.

These days, systematic investment plans (SIPs) are being widely advocated by many investment advisors and positioned by mutual funds as an investment option to weather volatile markets. Although it does not guarantee positive returns, SIPs help in averaging the entry cost for investors, and hence reduces the chances of an investor being caught on the wrong foot. Often, investors find it difficult to pick the right category/scheme and end up making the wrong choice.

Here are some basic factors investors should analyse while investing in a mutual fund scheme:

Finance needs:

The first step is to estimate finance needs at different stages in life. This helps in understanding investment objectives.

Risk appetite:

The next step is to understand the risk appetite. It depends on many factors like source of earnings, number of dependents etc. Investors with a low risk appetite should go for blue chip funds or diversified equity funds, while investors with a high risk appetite can go for a mix of blue chip and mid-cap funds.

Timeframe:

Investors should invest in mutual funds with a long-term perspective. This way, your investment gets more time to grow, with the advantage of compounding. Time also creates a cushion to absorb risks, and hence reduces the risk of losses.

Track record:

Investors should look at the track record of mutual funds before taking investment decisions. For evaluation of a mutual fund's performance, investors should look at the fund's total returns - dividends, growth, tax savings etc). This information can be accessed from the mutual fund's periodic reports.

Mutual fund investors should avoid frequent switching from one fund to another. Switching from one fund to another involves transaction costs. Investors should have realistic expectations from investment instruments. Information available/quoted is past performance. Remember, the past performances of the instrument may not be repeatable.

Performance of mutual funds is highly dependent on the fund manager, fund house and their equity research teams. Investors should make a thorough analysis before taking investment decisions.

Courtesy: economictimes.indiatimes.com

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5 corners of a sound Investing Strategy

5 corners of a sound Investing Strategy

The market is a roller coaster and let know one tell you otherwise. In the short term the market outlook may seem uncertain. But on the longer horizon Indian markets look very good. The government has been making conscious business friendly policies; the fiscal deficit too is getting under control. India continues to be one of the fastest growing economies in the world. These factors coupled with many others are ensuring India’s position as a global destination. To grow personal capital from India’s growth one has to choose the correct investment avenue.

Choosing between the plentiful available mutual funds and schemes is not easy. A well thought out and well-planned decision is one that will bear fruits in the long run. Thus a structured approach to fund selection with a systematic checklist to achieve it is of utmost importance. Even though there are many available methods of product comparisons, one doesn’t want to be weighed down by all of them. Dwelling into too many numbers, will only lead to further confusion. Therefore only a few areas of comparison are of true importance and will be comprehensive enough to produce a thorough comparison.

Portfolio:
Portfolio is very important while comparing schemes. Even though some of the underlying stocks in portfolios could be similar, most portfolios have differing mandates and investment philosophies. As a result it is rather important to understand the stance the manager has taken while building his scheme portfolio. The portfolio will not only determine the future outcome of your investment but will also tell you how risky the product is and hence if it is appropriate for your appetite. For example, an equity scheme, which invests in companies, could be safer than one that invests in mid. The portfolio for debt instruments is determined on duration of securities. A high duration, high return investment is potentially volatile and risky; while a short duration investment Portfolio is less risky. This is where we come to the next parameter of comparison

Risk:
In today’s scenario, investments that generate meaningful post tax; post inflation returns have risks attached to them. These are market risk, credit risk, government policy risk etc. At this point one has to understand how much risk he is willing to take in order to generate higher return. The rule of thumb is that the more risk one is willing to take the better the returns potential. The measurement for risk to return is known as Sharpe Ratio. The higher the value, the better the risk attached to the scheme is managed. A volatile investment can also be very risky. Thus this aspect must also be quantified. Standard deviation will help us understand the volatility of a scheme vis-à-vis its benchmark. Be aware a riskier investment is not always better and a sure fire way to generate superior returns.

Performance comparisons:
These are the most favored methods of investors and amongst the easiest. Performance numbers are available in plentiful. But performance is only measured in hindsight, and can never be guaranteed in the future. Also performance can only be compared across similar categories of funds. For example, performance or return comparison between an equity scheme and a debt scheme should never be done. It must be kept in mind that comparison happens only between similar funds. A large cap fund should be compared with another large cap fund and not a mid cap fund. Thus compare apples to apples only. Performance and return comparison should be conducted usually when one has decided on the above-mentioned factors like risk and product category.

Fund management and Institutional backing:
Since trusting your hard earned savings to some one can never be easy, it is important to evaluate their money managing capabilities. The markets are a game of understanding numbers and involve immense skill to generate growth from these numbers. Only a very capable person with a lot of experience can generate capital appreciation in today’s confusing market swings while managing risk.

Investment horizon:
It is very important to determine investments based on one’s time horizon viz equity typically being volatile should be considered for investment horizon of 1 to 3 years. While the short term debt schemes should be considered for investment horizons of up to 1 year.

It is therefore important to invest with a fund house with a good track record. It is also important to give due weightage to the quality and track record of the spouses of the fund. After evaluating these parameters and choosing a scheme one can be reasonable sure that the investment they are going into is the right one. At this point I would like to stress, that any of these parameters could only be a guiding star and not a guarantee for the future. Choosing an investment avenue is like getting into a marriage, so do it wisely. Happy Investing!

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Suggested Portfolio as per current market condition

Suggested Portfolio as per current market condition

By considering global meltdown you can go for below mention suggested portfolio.

Portfolio for investment differs from person to person as per different need of different person.

There are total 3 portfolios as per Risk capacity, Time for investment and expected returns you can take a bet.

Note: If you have total Rs. 100 to invest than out of Rs. 100 you have some X amount for equity. Out of that X amount of equity portion you can go for below mention schemes of mutual fund.

Aggrasive Portfolio:

JM Emerging Leader Fund (Multicap Fund) 12%
Birla Sun Life Front Line Equity Fund (Large Cap Fund) 8%
Sundram BNP Paribas Select Focus Fund (Stock Picker Fund) 8%
JM Basic Fund (Infrastructure focus Fund) 10%
Reliance Regular Saving Fund (Stock Picker Fund) 10%
Fidelity Special Situation Fund (Stock picker Fund) 11%
Kotak Opportunity Fund (Diversified Equity Fund) 8%
HDFC TOP 200 Fund (Large Cap Fund) 13%
HDFC Prudence Fund (BalanceFund) 8%
IDFC Liquidity Manager Plus Fund (Liquid Fund) 6%
Kotak Flexi Fund (Liquid Fund) 6%

Moderate Portfolio:

IDFC Imperial Equity Fund (Large Cap Fund) 10%
JM Emerging Leader Fund (Multicap Fund) 10%
Fidelity Equity Fund (Large Cap Fund) 11%
Reliance Regular Saving Fund (Stock Picker Fund) 11%
JM Contra Fund (Diversified Equity Fund) 10%
DSP TIGER Fund (Sector Fund) 9%
Reliance Vision Fund (Large Cap Fund) 9%
HDFC Prudence Fund (Balance Fund) 9%
ICICI Prudential Dynamic Plan (Dynamic Fund) 9%
IDFC Liquidity Manager Plus Fund (Liquid Fund) 6%
Kotak Flexi Fund (Liquid Fund) 6%

Conservative Portfolio:

HDFC Prudence Fund (Balance Fund)
Fidelity Equity Fund (Large Cap Equity Fund)
Reliance Vison Fund (Largecap Fund)
JM Contra Fund (Diversified Equity Fund)
Birla Sun life 95 (Balance Fund)
Canara Robeco Balance Fund (Balance Fund)
IDFC Liquidity Manager Plus Fund (Liquid Fund)

Best SIP Fund For 10 Years:

IDFC Premier Equity Fund (Stock Picker Fund)
JM Emerging Leader Fund (Multicap Fund)
Reliance Growth Fund (Midcap- Smallcap Fund)
Reliance Regular Saving Fund (Multicap Fund)
Fidelity Special Situation Fund (Stock Picker Fund)
DSP TIGER Fund (Thematic Fund)
Franklin High Growth Fund (Midcap & Smallcap)
DSP Gold Fund (Sector Fund)

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Why should we invest in Mutual Funds?

Why should we invest in Mutual Funds?

Investing in the equity market directly is exciting and glamorous. You are in the thick of things and are able to take responsibility for yourself. Though the volatility and the information overload makes it a daunting task. The present subprime quagmire makes it even more daunting.

How about investing through Mutual finds? Doesn't it have its own loading and administrative charges and the fund managers making merry on your hard earned money? And can't we see the best performing mutual funds and follow their portfolio? The performance of a scheme is reflected in its net asset value (NAV) which is disclosed on daily basis in case of open-ended schemes and on weekly basis in case of close-ended schemes. NAV of mutual funds are required to be published in newspapers.

Here are some points to ponder:

• We should allocate our time to investment decisions in proportion to our income generation goals.
• Convenience and hassle free investing should be a major factor.
• Fund managers are into it full time. If we able to identify fund managers who have consistently performed over last 3-5 years, nothing like it.
• The fund manager also has the muscle power of crores of Rupees and is able to take entry and exit decisions impartially.
• MFs continuosly churn their portfolio. When MFs buy and sell stocks, they don't have to pay capital gains as you do when you churn.
• We are likely to panic over market crashes. MFs can take advantage of a crash!
• With Systematic Investment plans (SIP), you can start investing with as low as Rs 500 per month.

The NAVs are also available on the web sites of mutual funds. All mutual funds are also required to put their NAVs on the web site of Association of Mutual Funds in India (AMFI) www.amfiindia.com and thus the investors can access NAVs of all mutual funds at one place.

The mutual funds are also required to publish their performance in the form of half-yearly results which also include their returns/yields over a period of time i.e. last six months, 1 year, 3 years, 5 years and since inception of schemes.

Investors can also look into other details like percentage of expenses of total assets as these have an affect on the yield and other useful information in the same half-yearly format. The mutual funds are also required to send annual report or abridged annual report to the unitholders at the end of the year.

Various studies on mutual fund schemes including yields of different schemes are being published by the financial newspapers on a weekly basis.

Apart from these, many research agencies also publish research reports on performance of mutual funds including the ranking of various schemes in terms of their performance. Investors should study these reports and keep themselves informed about the performance of various schemes of different mutual funds.

Investors can compare the performance of their schemes with those of other mutual funds under the same category. They can also compare the performance of equity oriented schemes with the benchmarks like BSE Sensitive Index, S&P CNX Nifty, etc. On the basis of performance of the mutual funds, the investors should decide when to enter or exit from a mutual fund scheme.

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Six ways to chill in a bear market

Six ways to chill in a bear market

Greed (bull) and fear (bear). These are two words investors often hear and think of, but are unable to control their emotions when it comes to investing. In fact, when stock markets are north-bound, their confidence in buying increases considerably.They buy stocks irrespective of their high price-to-earning ratio and are sure to make good money. If, however, the markets enter a bearish phase, their confidence goes down, leaving them wondering where did they go wrong?The chaotic bear market environment then sets the stage for fear to creep into their minds, thus impacting investment decisions. To make sure that you successfully weather the raging market storms, here are six ways to drive out your fears of losing money in a bear market.

STAY CALM AND ACT SMART

Easy to say than follow. It is true that bear markets spread panic among investors, often causing them to sell all the stocks they hold. But a smart investor, according to capital market experts, is one who gets on with the job of picking up value stocks, notwithstanding where the tide of the market is moving.“Such an investor is rightly rewarded with great profits once the market turns. Since we fail to control our emotions, we forget that investment in equity is not for short term. So for long-term benefit , it is important to stay calm and act prudently in such times,” advises Ashok Kumar Jain, chairman and managing director, Arihant Capital Markets.

SET REALISTIC GOALS

You may have earlier doubled your money in a short span, say six months, by investing in a particular stock during a bull run, but you must remember — what goes up, comes down. Stock investing is not about speculating or making easy money. It is an art and science of buying good businesses at cheaper valuations.“It is important to set realistic goals for your portfolio’s long-term return , and buy only good companies with strong fundamentals and good management,” says Jain. To nip your fears in a bearish market, you should avoid selling just because stock prices have dropped.“You must review your stock portfolio rationally. Then only you should arrive at a decision to sell losers whose future prospects look weak, and hold on to winners with prospects that remain solid,” advises Jain.

DON’T TRACK THE MARKET

Another way you can soothe your nerves in a bear market is by not following the stock markets on a daily basis. Every investor knows that you should buy low and sell high.Bull markets provide you a chance to sell high. Bear markets, however, offer you a chance to buy low. Unfortunately, too many investors are lulled into complacency during bull markets and scared out of their wits in bear markets.So they do just the opposite, buying high and selling low. “Thus, you should avoid tracking the stock markets daily during a bearish phase. This way you will save yourself from unnecessary anxiety and fear,” says Amar Ambani, V-P , research, India Infoline.

SET ASIDE EMERGENCY FUNDS

Investors have the tendency to overinvest during a bull run, which becomes a reason for fear when the markets turn choppy. Ambani holds the view that to counter such a situation, you should have sufficient liquidity in hand for emergencies.“This will make sure that you aren’t forced to sell equity holdings or other assets before the time and price are right,” he says. To emerge as a winner, all you need to do is recognise the fact that your portfolio will decline from time to time, but take solace in knowing that short-term pain is required for long-term gain.

SEE THE POSITIVE SIDE
To make money in equities, it is important to be rational, not emotional. “You should always try to look at the positive side in a bad market,” says Ambani. Citing an example, he says that a bear market provides an excellent opportunity to buy strong businesses at rock bottom prices. Jain adds that no one can tell you when the next bull market will begin, how long will it last, or how high the market will ultimately go.“That should be the key point to drive out your fears in a bear market. So even if the markets are down, you should be convinced that your business is making money. The stock price may not generate great returns due to the bearish phase, but in the long term, your portfolio’s returns will be unmatchable,” he says.Warren Buffett was recently quoted as saying: “I would offer you a significant sum of money if you could give me the opportunity for all of my stocks to go down 50% over the next month.” You don’t get maximum pessimism during bull markets. You get them when the world looks like it’s falling apart. Times like now, for instance.

STUDY BEHAVIOURAL FINANCE

Last but not the least, you can study behavioural finance to calm your fears in a bear market. For the uninitiated, behavioural finance pairs emotions with investments and shows how emotions and cognitive errors can cause disasters in investment decisions. “Individual behaviour, temperament and psychology play an important role in determining investment success. Equity price movements are nothing but a summation of individual behaviours, reflecting their greed and fear,” says Ambani.As always happens, even experienced investors are susceptible to making judgment errors identified by behavioural finance research. “It can help you to be watchful of your behaviour and, in turn, avoid mistakes that will decrease your personal wealth. It provides a platform to learn from people’s mistakes, to modify and improve your overall investment strategies and actually profit from identifying these mistakes,” feels Jain.As for the bottomline, just as it is important to know when to exercise caution, the same way it is important to comprehend when to abstain from fear. Happy investing!

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5 reasons to say goodbye to your mutual fund

5 reasons to say goodbye to your mutual fund

Advice on when you must invest in a mutual fund is available dime a dozen. But it takes a certain degree of expertise and proficiency to redeem your mutual fund investment at the right time. Since this is the dilemma that many investors grapple with, we have outlined the five most critical reasons for redeeming your mutual fund investment.
At the outset, it is important to note that the ‘right time to redeem’ does not mean that there is a timing element involved over here. Rather the right time to redeem means when the time is up on your mutual fund investment and it is no longer prudent to hold on to it.
While there may be several occasions to redeem your mutual fund investment, we have narrowed it down to the five most pervasive reasons.

1. When you have achieved your investment objective

A mutual fund investment is made with the intent of achieving a specific investment objective. Some of these investment objectives include, among others, planning for child’s education, planning for retirement, saving for a house/car. If you haven’t achieved your investment goal, there is no reason to redeem your mutual fund (assuming, of course, that it is performing on expected lines). When you have achieved or are close to achieving your investment objective, you should stagger your mutual fund redemptions so that you are completely liquid (i.e. in cash) when it is time to realise the investment objective (i.e. pay your child’s college fees or buy the house).

2. When your mutual fund revises its mandate

Mutual funds have an investment mandate. The mandate sets the ‘guidelines’ for fund managers about how they should manage their funds. Since the mandate is formally stated, investors know about this beforehand and invest in the fund if they believe that it will enable them to achieve their investment goals. Mutual funds are known to revise their mandates if they believe that the existing mandate does not serve the mutual fund’s interests anymore. For instance, in the recent past a leading private sector fund house converted its index fund into an actively managed fund.
From your perspective, you will have to evaluate whether the mutual fund with a revised mandate merits a place in your portfolio. If it doesn’t, then its time to redeem it. In the event of a revision in the mandate, regulations require that investors be given the option to redeem the mutual fund without an exit load, so you can redeem the investment without worrying about the exit load (if any).

3. When the star fund manager quits

A category of investors track the fund managers more than they track the fund house and its schemes. These investors invest in a mutual fund relying mainly on the star fund manager’s investment prowess and skills. While the domestic mutual fund industry does not have many star fund managers, the few who can be considered stars have a committed fan base. At Personalfn, we discourage investors from falling prey to this trend; investing in process-driven fund houses is a more reliable way of investing than betting on star fund managers. Nonetheless, if you have invested in a fund based on the star fund manager appeal, then your investment decisions should correspond with the fund manager’s migration (across fund houses). If he quits the present fund house, then there is a case for you to redeem your investments because it is unlikely that the rest of the fund management team will be able to replicate the performance in the star fund manager’s absence.

4. When your mutual fund is not performing

We often hear of investors complaining about the below par performance of their mutual fund investments. Our advice to them is to be patient and evaluate their investments over an appropriate time frame and with the right perspective. For instance, equity funds should ideally be evaluated over the long-term (at least 3 years). Taking a decision in haste without understanding the investment proposition of the mutual fund could prove counterproductive and expensive (if there is an exit load). However, all points considered, if you and your financial planner are convinced that your mutual fund is a dud, then its best that you redeem it.

5. When you have invested in a thematic fund

We recommend that investors avoid thematic funds, the reality is that thematic funds are a feature in the portfolios of many investors. Some of these investors are well-informed and have a view on the underlying theme/sector. However, for a vast majority of investors, thematic funds are an unknown entity simply because they do not have the necessary skills and resources to track the underlying sector/theme. They only got invested in them either because everyone they knew was investing in them or their agent made a compelling marketing pitch for the fund. Either ways they are invested in the fund and want to know when they can redeem. If you are one of them, then the right time to redeem your thematic fund is when the stock markets give you the opportunity. Since a rising tide lifts all boats, it is likely that the performance of the underlying theme/sector will improve in a stock market rally. That is an opportunity for you to sell that thematic/sector fund that you always wanted to redeem but could not because of unsuitable market conditions.
Another mutual fund investment that you can redeem in a stock market rally is the dud that you invested based on a ‘hot tip’ and have regretted ever since. These funds are like deadwood in your portfolio, which you should never have invested in, in the first place. But having invested in them, make the most of a stock market rally to either redeem at a profit or to minimise losses.

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Suggested portfolio returns

Suggested portfolio returns

On 3rd March we have posted one article about suggested portfolio as per our research. We had suggested good blending of mid cap, small cap and large cap with small allocation to balance fund too. We bat on JM funds after direct meeting with fund manager and research analyst, JM worked in our suggested portfolio as a black horse.

We have kept 12 % in liquid fund to average in funds whose NAV falls more after investment or to take advantage of sharp correction by investing in to any Index fund.

You can see we have allocated 88% in equity fund which have generated 96% absolute return in three month time.

Now, if you have got returns as per your expectation than you must move out of equity.

If you want to book partial profit, we advice you to take out 20 to 25% from equity mutual fund to liquid fund and start weekly STP in the same fund for next five month.

I do not want to take much of your time; let me present you a suggested aggressive portfolio result as on 3rd June 2009.

If you are not able to view it properly click here or click here to get attachment

Note: Portfolio allocation and requirement changes from individual to individual.

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