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Supreme Court asks Franklin Templeton to disburse Rs 9,122 crore to investors in 20 days

Reference: https://economictimes.indiatimes.com...w/80650772.cms

Till cash flow from your new business becomes stable, avoid investing in equity funds altogether. Keep funds in debt MFs or fixed deposits instead. But once your apparel business gets good traction, start investing in equities.

Anyway, "invest to secure your child's future" is just a marketing gimmick used to sell ULIPs and mutual funds. ;)

You should invest to grow your networth, that's all. You can use the proceeds for whatever you want - holidays, car, house, kids education, retirement etc.

What is your take on the new budget? Will the twin factors of high fiscal deficit (9.5% of GDP this year) and the heavy borrowing planned by the government (partly through debt) have an influence on the returns from debt funds of all categories? Or will it be limited to specific categories such as gilt funds? Short term fund trailing returns are anywhere between 2 to 3% in the last six months.

Thanks,

Pradeep

Needed some info - Has there been any change in the way mutual fund switch happens? On 11th Feb, I switched out some money from my Equity funds and moved them to Gilt fund since I had booked some serious profit(almost double) in many funds and wanted to park some of the money. So the switch was from Sbi Equity funds to SBI Magnum Gilt fund. However, the current situation is that the switch out from equity funds happened but I dont see the money switched in to the Gilt fund as of today. Is this a new mechanism or is there something wrong with the transaction? Earlier the switches would happen on the same day and I would see the changes on the next day of the switch. Any info is appreciated.

There has been a SEBI guideline change w.e.f. 1st February 2021 due to which units in the new scheme would be allotted @ "closing NAV of the day on which the funds are available for utilization".

Since you switched out from an Equity fund, the switch in NAV would be T+3 working days.

I have came across HDFC Passion Fund, which effectively is a recurring deposit with flexible top-up options. Interest rates are inline with RD/FD and TDS will be collected if the interest amount goes above 50K at end of the term.

I really don't understand or nor have the intellect to invest in Mutual funds or in share market.

Is it a good idea to start a passion fund, which will deduct approximately 12,500 per moth and return 20Lakh+Interest at Jan-2031 ?

Or what will be the best option to invest the above amount (~12500/Month) to get better returns by 2031. I don't want to take much risk or need huge returns. This fund is supposed to be as a safekeep.

Mods, Please move/delete if found inappropriate in this thread.

Returns are not guaranteed. It will depend on changing interest rates.

To me, it looks like a regular recurring deposit scheme with few additional features. Go ahead with this if you are comfortable with bank fixed deposits.

Thanks for sharing that info. Yes I had ignored this message flashed during browsing the site and also mail I guess, and that means switches no longer happen on the same day as before. Even as of today it hasnt happened so I believe it would take at least a day or two more. :Frustrati

Yes. It's "T+3 working days".

Since you switched out on 11th, Saturday and Sunday would be excluded. It would also matter on your order being placed before / after the cut-off time applicable.

Hi guys. I wanted to ask the informed members if there's a way I can invest for my nephews? Google search says only parents and legal guardian can. Though I am not anointed as their legal guardian, is there a way I could do this? I was thinking I'll ask my brother and my sister to open an account for their kids and then maybe I can take over it.

Or if there's a simpler way of doing this, please let me know. Also, if you can point out which fund-type will be the best bet. They are 10 and 11 years old right now, so I'm just helping them set up a small fund for their future needs.

Recd today the extinguishing of 49.5% of the units held in Franklin Ultra short term bond fund.

Any suggestions where to divert the funds recd? This fund was one of the investment in debt portfolio.

I too received funds from FT schemes yesterday. I had written them off last year. But for now, I have invested them in Gilt funds (safe credit quality) with an investment horizon of 5 to 7 years.

In the same boat.

Now there are tax implications also because of this forced 'redemption'.

I hope Supreme court puts a hefty penalty on FT - management expenses of the funds + 5% penalty - to be distributed to all investors.

FT shouldn't be allowed to go scot-free. :mad:

Thats another headache. I hope we should be able to do the indexation to reduce the tax outgo. In all the mails from FT, there was not a single mention of taxability.

Update

Got the policy cancelled as I was still in the free look period(lucky). The drastic change in attitude post selling the policy is good enough reason for me to never ever deal with the company in the near future. Took a lot of calls to carry out the cancellation process. This included multiple calls where the representative stopped talking altogether for more than 10 mins.:Frustrati