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POSTED BY ON June 28, 2011 4:44 pm COMMENTS (8)
Hi, My personal banker has suggested me new MF against old MFs I need an expert advice if I should follow his suggestion.
HDFC tax saver -keep in Portfolio
HDFC capital Builder -Switch to HDFC Top 200
fidelity tax advantage -keep in Portfolio
HDFC multi cap -Switch to HDFC Equity Fund
Fidelity Special Situation -Switch to Fidelity equity Fund
Franklin Flexi Cap -Switch to Sundaram BNP Paribas Select MID Cap
Franklin Equity Income -Switch-ICICI Pru Focused blue chip equity fund
SBI Magnum Comma Fund -Switch-HDFc Mid Cap Opportunity Fund
SBI Magnum Tax Gain- -Switch – ICICI Pru Tax plan / Discovery Fund
Sbi Magnum Bluchip -keep in Portfolio
ICICI Pru Infrastructure- keep in Portfolio
Sundaram Rural India -Switch-Birla Sun Life Dividend Yield Plus
Sundaram Capex Opportunity- Switch- IDFC PREMIER EQUITY FUND – PLAN A
DSP BR TIGER -Switch-DSP Br Top 100 equity
Birla Tax Relief -Switch- Birla Sunlife front Line equity / Reliance RSF Equity Fund
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Oh then how should I go? can you recommend me a good MF portfolio
Hi Avinash,
i don’t have much knowledge of your risk profile or horizon, but if you are looking for 2-3 years only, you should have good amount of allocation to debt. i don’t intend to promote moneysights.com here by answering, but you would be better off playing with the site. Once you register, you will have an option to add your past funds. Once entered, it will give you a nice snapshot of your existing investments as well as help you re-start from scratch. i mean click on “Get Portfolio” & you will see Portfolio Recos for various levels of risk. Choose the one which suits you – its quite intuitive!
Hope that will put your case to rest.
Thanks!
—
Santosh Navlani | moneysights.com
@Ramesh @Santosh: Thanks for your suggestion, I went back to him saying you give me 4 to 5 funds and a good portfolio for 2 to 3 years, he suggested following funds please help if I should go on his word.
1- Reliance Gold ETF Fund
2- HDFC Equity Fund
3- Reliance Banking Fund
4- ICICI Prudential technology Fund
5- SBI Magnum FMCG Fund
Hi Avinash,
This is really unacceptable service. You must ask him the rationale of 3 sector funds! i’m no expert on Gold. So, wouldn’t comment on it. HDFC Equity is a great fund. And if your horizon is 2-3 years only, please don’t make your portfolio such heavy on equity side.
—
Santosh | moneysights.com
@Avinash
In very short and precise terms, “run away from this advisor”. dont ask him. And never follow him.
Hi Avinash,
To say the least, this is a confusing situation to be in. i mean, i appreciate the intelligence (or lack of it) for being so super-pointed towards finding a unique replacement for every fund! This is truly undesirable.
Did he even ask you any questions about your goals, objectives of investment before messing this up? i would personally love to see his/her reasoning for it 😉
i recently read & personally heard that a banker makes more money on keeping your money in savings bank account than actually moving money from its SBs to Mutual Funds. And it doesn’t require us to be a Financial Analyst to know the reason.
Anyways, coming to the point – you really don’t require more than 4-6 funds to create a good portfolio. Since i don’t know much your risk profile or desired investment duration, i wouldn’t be able to comment which funds you should invest in, but this forum is full of suggestions given by people from all over. You can either read them through or decide yourself by entering your existing portfolio details on moneysights.com & see what it throws for you.
Hope this helps. And please ask for a change of RM from your bank or best stop investing thru him.
Regards,
Santosh Navlani | moneysights.com | Making Investing Simple
@ Santosh
I dont think changing the RM will change anything. Yet to see an ethical one. His boss wont let him remain ethical.
Ramesh
Q1. Who suggested you all the present funds? If it was the same banker, you know what to do. 😉
Q2. Ask your banker to justify the use of the newer funds in your portfolio? Ask him about his credentials and experience. for heaven’s sake, why is there a need for 15 funds? since he is a banker, he needs to tell you why 3 funds are worse than 15 funds?
Q3 which bank is he from?
Ans. Keep it simple.
1. Either take one large cap oriented fund (any of Franklin Blue chip / DSPBR top 100 / HDFC top 200), one tax saver (HDFC taxsaver / fidelity tax advantage / ICICI Tax plan, etc), and one mid-cap fund (IDFC premier equity / BSL dividend yield plus / icici discovery / sundaram select midcap ). Total 3 funds.
2. Or one tax saver plus 2 multicap funds like hdfc equity and reliance RSF-equity. again total 3 funds. (Other options are templeton india growth / equity income and quantum long term equity).
It will be really interesting to find if your banker can give you the Quantum long term equity fund (this fund does not give annual fees to the advisors). But its mandate is very good and has been performing very well.
You can go on and find various recommendations based upon retrospective data. Remember there are no forward looking best funds.