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Inflation: The Retirement Chewing Monster Honeymoon Phase Is Over : Bitcoin


Rural Sector opportunities – In discussion with Mr. Krishna Kumar, CIO – Sundaram Mutual Fund


4 Mistakes You Need To Avoid In The Current Market Rally


Budget 2018 – Raising a Toast to India’s Health By Mr. Sanjay Sapre, President – Franklin Templeton


Decipher The Book : “How


26 27 29

Gizmo Plush


2018 Could Be The Turnaround Year For Real Estate


17 22




Rich People Think” by Steve Siebold

“MONA LISA” In The Bank – Art Market Overview Market Insider – Facts & Figures of recent trends Scorecard : Comparison of Top MF Schemes & PMS


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Inflation: The Retirement Chewing Monster "Inflation is when you pay fifteen dollars for a ten-dollar haircut you used to get for five dollars when you had hair." -Sam Ewing "Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man." -Ronald Reagan

Despite these witty quotations, no one could say it strongly enough – when living on a fixed income, inflation has a profound impact on your quality of life. The American Heritage Dictionary of the English Language defines inflation as, "A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services." Basically, inflation makes goods and services more expensive and decreases the value of your money.

When you are working – your income generally rises as the costs of goods and services increase. Your earnings "keep pace with inflation", so normal inflation is not generally a big concern. However, when you are living off of savings – inflation literally robs you of income. Most people underestimate the impact that inflation will have on their retirement plans. Even at relatively low rates, inflation is a real thief of buying power over time.

Most experts feel safe recommending that individuals calculate their retirement needs using an 8 percent inflation rate. But, it is important to understand that we have seen (as in the late seventies, eighties and early nineties) sustained inflation rates of around 12-17 percent!


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In 1957, the price of ambassador was Rs. 16,000. By 2014, it’s cost spiked to Rs5.50 Lacs. The premium property rate in the early ’70s was about 90 Rs/sq.ft today it’s around 74,000 Rs/sq.ft. And a litre of petrol in ’89 was 10 rupees. But recently we’ve seen it as high as 80 rupees. Those price differences are astonishing. That is what you call inflation. And the biggest impact of inflation on your retirement will be on your purchasing power. Impact of inflation on purchasing power

Today's Value Rs Lakh In 5 years 5 3.12 10 6.24 20 12.5 30 18.75

In 10 Years 1.94 3.89 7.78 11.67

In 15 Years 1.21 2.43 4.86 7.29

In 20 Years 0.75 1.51 3.02 4.53

Inflation assumed at 9%

Failing to account for the effects of inflation is a very damaging mistake. Perhaps the following example will help you understand the real world implications.


These scenarios assume that you now require Rs. 12,00,000 a year to maintain your lifestyle and would like to maintain that standard of living in retirement. An 9 percent inflation rate is used -- the recent historic average (neither low nor high): • If you need Rs 12 Lakh a year to live now (your age is 58 years), you will need Rs28.40 Lakhs a year by the time you are 68 years old, to support the same standard of living. • Rs 52 Lakhs a year is the amount of money you would at age 75(if you retired at 58). • And, if you retired at 58 and lived to be 85 years old – another 27 years, you will need Rs 1.22 Crores a year! The fast developing medical technology is helping in longer life span. No wonder if the normal life expectancy increases by 10 to 15 years over next decade or two. That will add more fiscal stress to retirees who couldn’t plan ahead well. Secondly, predicting the future inflation is an impossible task. One needs to continuously attune the portfolios with rising or falling inflation trends. Any mismanagement will lead to loss of wealth and purchasing power. Medical facilities will keep us alive longer, that’s a good news. But, they will continue to be expensive is a bad news. Retirees need to plan well in advance for medical expenses too.


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Inflation can act as double-edged sword. Inflation on the higher side will diminish your purchasing power whereas if it is too low it can reduce returns on your savings/investment. Inflation erodes your purchasing power. It makes your Savings go down in value. Think of a 8% inflation rate as a 8% tax on your money.


"Inflation is when sitting on your nest egg doesn’t give you anything to crow about." -Unknown The good news is that some pension programs (though increasingly few) adjust your income for inflation. The bad news is that if you are living in retirement by withdrawing from investments or savings, then the value of your money will dramatically decrease overtime. You will require far more money to support your lifestyle in the future. These insights will go a long way in helping to make sure you aren’t facing INFLATION MONSTER in your retirement phase.

"Inflation is taxation without legislation." -Milton Friedman A compact retirement plan should factor for two types of overhead: fixed and social. Fixed expenses like food, medical bills, utilities, insurance and other miscellaneous costs. Social expenses like entertainment, travel, and other activities that you desire to experience for as long as you live. These expenses will keep on rising over your lifetime

Sameer Rastogi, SAKSHAM WEALTH Solutions Pvt. Ltd.



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Honeymoon phase is over : Bitcoin

More risk often brings more profit, but taking the shot in the dark sometimes leads to severe fatality. People are always looking out for new ways to grow their wealth. Many believe BITCOIN is that thing, but they tend to forget one key aspect amid all this hype surrounding it that losses associated with Bitcoin are more certain than earnings because it is highly unpredictable, volatile and obscure. Even hardcore supporters of Bitcoin don't deny the fact that trade in cryptocurrency is an extremely risky affair. That's why Bitcoin and other alternate cryptocurrencies are banned in various countries around the world and the Reserve Bank of India (RBI) has many times warned the people about the repercussions of Bitcoin trading. And therein lies the problem with Bitcoin and its virtual cousins: Quick money often leads to disappointment. Already this year, Bitcoin has seen heart-stopping drops, prompting more consumer warnings from regulators.

Points To Ponder Bitcoin is a Bad Investment Bitcoin, and all other cryptocurrencies are not real investments comparable to a home, real estate, stocks, bonds, mutual funds or other assets that produce income or are visible assets that can experience genuine price appreciation. In a sense, cryptocurrencies are an illusion, a game of sorts, that will end badly for most investors, especially if they have borrowed money to gamble on cryptocurrency price appreciation.



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Every Bubble Has Winners Well looking back, those who invested early in Bitcoin and other cryptocurrencies, and already have cashed out, are the winners. While some who jump into this game today may hit big and actually make a profit if they then sell at the right time. However, most will lose.

“I hope Bitcoin becomes a better way of doing it, (but) the idea that it has intrinsic value is joke.” – Warren Buffett

Bitcoin Is Massively Volatile So the recent drop in the price of most cryptocurrencies, and not just Bitcoin, illustrates how erratic the price of all cryptocurrencies are and the reality that this price volatility has no rational basis. Neither cryptocurrencies have any intrinsic value, nor do they generate any income or cash flow for those who “invest” in them.

The vision of pseudonymous founder Satoshi Nakamoto was to create peer-topeer payment network where users wouldn’t have to pay the undue charges to the banking system. In truth today, Bitcoin operates quite similar to any banking network with various middlemen like exchanges, miners demanding fees, thus making it far less unique and time resilient. The real hero/true potential in all this Bitcoin noise is not the cryptocurrency but the underlying technology that makes cryptocurrency transactions as feasible and efficient as they are, which is Blockchain. Already many global entities have realized the potential of Blockchain which can be used to revolutionize the way financial transactions are taking place. There are various areas of application for this technology, such as land registry/transfers, securities settlements, among others. By the time they start incorporating this technology in the mainstream system, the entire aura around this Bitco-mania will fizzle out.

To sum it up Bitcoin rise is a pedigree of the exuberant trader speculation, which has fuelled its rise.

Abhay Gupta, SAKSHAM WEALTH Solutions Pvt. Ltd.


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Centre StageStage : Emerging Rural Theme Centre A conversation with Mr Krishna Kumar, CIO of Sundaram Mutual Fund and his thoughts about Sundaram Rural India Fund.

Could you please tell us a bit about the fund and how this current budget and overall policy of the government impact the rural theme? Our belief is investing in Rural as a theme is about participating in the expected transformation of the rural economy. We strongly believe that the rural economy is poised to grow at much higher rates over the coming years and is poised to transform itself into a vibrant and prosperous segment of the country. But this will be over a long period of time – 10 to 15 years and hence we feel that this is a theme for long term investing. Rural India is a vital part of the Indian economy. 70% of our population still resides in rural India. Until about a couple of years back, there were various headwinds which this segment suffered. However over the last 3 years on the back of transformative policy changes and good monsoon, the outlook for the rural economy has changed. Of late, apart from government led initiatives, nature has been more merciful. Monsoons have been near normal which should help increase crop production and acreage.

Mr. Krishna Kumar, Chief Investment Officer, Sundaram Mutual Fund. Voted amongst Top 10 Best Fund Managers by ET Wealth(August’16), he brings over 20 years of experience in Indian equity markets. He manages several flagship fund ( Sundaram Select Midcap, S.M.I.L.E, Tax Saver, Rural India & several others).



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This would result in rural prosperity, thereby leading to a higher propensity to consume and thus benefitting various entities like finance companies, consumer durable players as well as automobile players. So what are these initiatives by the government which make us bullish on this theme? For starters, the government has tried to tackle the common problems of the average Indian farmer i.e. dependency on monsoons, lack of farm productivity, lack of proper compensation for produce and lack of downside protection. These measures started roughly 3 years back and have been augmented in each budget.

To reduce dependency on monsoons, allocation of Rs 5000cr to a micro irrigation fund was done in the last budget. In the 2018 budget, Ground water irrigation scheme was announced which would be undertaken in 96 districts and has an Rs2600cr allocation. For downside protection, a game changing revamped Crop Insurance initiative by the incumbent government has cheered up farmers. This replaces National Agricultural Insurance Schemes and has some enhanced mechanisms which are farmer friendly. For instance, premiums are capped at 2% for food grains and 5% for commercial crops whilst all claims are proposed to be settled in 25 days or less.

It provides a comprehensive risk cover for flood, fire, lightning, landslides, drought etc. and has 53 crops under coverage. The Union Budget 2017 increased area under crop insurance to 40% of cropped area for FY18 and 50% of cropped area for FY19 (30% previously). The latest budget reinforced the government’s focus on the same.

Rs 2600 cr. allocated for Water Irrigation scheme

Another important initiative is the launch of electronic National Agricultural Market which integrates 21 APMC mandis from 8 connected states. All 585 mandis would be online by March 2018 and online trading in 25 crops would start. As per the recent budget, we are firmly on track to achieve the same with 470 APMCs connected to the network. A single trader license would be valid across all markets and this would enable farmers to sell in a Mandi of their choice and they are free from repressive pricing of local cartels. Price discovery would happen in a transparent manner and a larger market is at hand for farmers to sell their produce.


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So the biggest headache for the farmer i.e. proper compensation for produce would be taken care of. 2018 budget also allocated Rs2000cr to develop the non APMC regulated Grameen markets – numbering close to 22,000. Food processing sector also got a boost with Rs1400cr allocation. Also, to ensure boost to farmer productivity, the Contract Farming model was revamped which would ensure proper implements and research is given to farmers and in turn the companies also get a steady and uniform quality of produce.


There are other good measures like targeting 100% rural electrification by 1st May 2018. Higher allocations to roads, soil health cards etc are also worth mentioning here. Credit for agricultural activities also will be boosted from Rs10 lakh crore to 11 lakh crore. Rural India will be a big beneficiary of implementation of the 7th Pay Commission and OROP as 53% of the govt. employees reside in Rurban India (Source: JM Financial Report – ‘Rural Safari III’ dated May 04, 2016) We can see the benefits of the above measures flowing to consumer staples, durables, automobiles as well as tractors and farm machinery. Second level beneficiaries would be farm inputs, animal/diary protein, financial sector and infrastructure. The portfolio doesn’t consist of 100% rural stocks. Why is that so?

Construction/Infrastructure focus by higher allocation by the government coupled with higher NREGA spends augurs well for rural prosperity. A strong irrigation focus which was long pending with doubling of allocation to INR54,212cr as well as fast tracking of 89 irrigation projects and a INR20,000cr long term irrigation fund under NABARD would boost the sector also. This time, the budget augmented the same with Rs10,000cr allocated to Fishery & Aquaculture as well as Animal Husbandry.

Please note that this is a broad thematic oriented multi cap fund which invests in stocks and sectors benefitting from growing rural prosperity, so in that sense it is not a pure agriculture sector fund i.e. a fund with 100% allocation to pure agri sectors like farming implements, pesticides & fertilizers etc. Our strategy is that we shall populate the portfolio with names which benefit from overall rural prosperity bestowed thanks to the aforesaid measures and this would have 4 sub themes which should ideally benefit i.e. pure agri implements (Farm to Fork), financial inclusion, rural prosperity and rural infrastructure.



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What do you attribute the outperformance of the fund to over the last 3 years ? Performance wise the fund has consistently outperformed its benchmark since inception and of late, performance has really excelled. This is primarily due to outperformance of our consumption stocks in the portfolio. Going forward we are positive on contribution from other verticals like farm inputs, financials and infrastructure.

The other sectors would be Consumer Discretionary like durables, apparel & textiles, personal transportation, retail Consumer staples and food, Building materials & paints. All of above are beneficiaries of rural prosperity.

How has the portfolio been constructed? The fund follows a bottom up approach to stock selection to construct the portfolio under broad themes / sectors we discussed earlier. These sectors are : • Agriculture inputs like seeds, herbicides, pesticides, fertilisers, etc. • Agriculture automation aids like tractors, tillers etc. • Diary, poultry and food processing • Micro Financing, small finance banks, tractor & home finance • Construction/irrigation Infrastructure and • Agri output value chain like Sugar, Tea, Cotton etc.

How is the theme suitable in the shorter term and long term? Ideally this can be positioned as a multi cap fund with a broad rural prosperity thematic and can be invested in lump sum or STP/SIP mode for a time duration of 2-3 years and beyond.



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4 Mistakes you need to avoid in the current Market Rally What should I do now? This

is the wringer probably most investors would have asked themselves a number of times in the past few months. Thanks to the recent volatility in the stock markets. With ever increasing stakes in the stock market, investors cannot afford to keep repeating actions that can lead to serious negative consequences for their financial goals. With the equity market moving to spectacular heights before succumbing to gravity in the first week of February, it's easy to get edgy or over-excited.

With flashy newspaper headlines about market rise globally & huge gains in Market Cap, everyone gets excited. New investors in equity, especially the ones drawn in by the gains that are being made by people around them, run the maximum risk of making costly blunders. Here are some screwups every investor need to avoid :-

“The investor’s chief problem ( even his worst enemy) is likely to be himself.” - Benjamin Graham


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Chasing The Highs A stock does not become a good buy simply because its price has been rising phenomenally. Once investors start selling, the price will drop drastically. Ditto with a mutual fund. Every fund will show a great return in the current Bull Run. That does not necessarily make it a good fund. One must track the performance of the fund over a bull and bear market, watch out for portfolio quality & valuation before making a choice.

Quitting In a Hurry The desire to be right about timing the markets is very high among investors. Coming off from a peak market into a trough creates anxieties. Stories about how people lost all the money because of not getting out at the right time, start flashing vividly in minds of investors. Tentativeness about how far the markets will run up will increase as naysayers point to the end of the bull market with every rise. Remember that a bull market is never a linear path and is characterized by its highs & lows. No one knows how far your stock/fund will run and you may regret quitting too soon. Allow your gains to be compounded.



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Investing Vs. Gambling Don’t confuse gambling or speculation with making an investment. If you are acting on a hot tip or blindly picking a stock/fund, you are actually gambling. Investing means making a decision based on factual information & your willingness to stick with it for a while. You and your advisor must have total conviction in the investment made. Investment is about achieving goals and not about trying your luck.

Investing Without a Plan Most people like to plan like planning for vacations, dining-out or buying a car. But, in comparison, people hardly spend any time and energy in investment and financial planning. This is a big mistake. Numerous studies show that people who seek professional help to create a written investment plan tend to financially outperform their friends & relatives. This outperformance is not by just a few percentage points, but by multiples.

Abhay Gupta, SAKSHAM WEALTH Solutions Pvt. Ltd.

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Budget 2018 – Raising a Toast to India’s Health

Sanjay Sapre, President, Franklin Templeton Investments – India.

Despite being the last full budget for the NDA government before the general elections next year, the finance minister walked a fiscal tightrope to present a balanced budget wherein he proposed various measures for the social, rural and infrastructure sectors, besides incentives for senior citizens, corporates and the salaried class. A key announcement was the launch of a flagship National Health Protection Scheme to cover over 10 crore poor and vulnerable families (about 50 crore beneficiaries) providing secondary and tertiary care hospitalization coverage upto Rs.5 lakh per family per year.

The anticipated re-introduction of long term capital gains (LTCG) tax on equities was announced with a 10% tax on LTCG without indexation benefits provided the gains exceed Rs.1 lakh. Only gains earned post January 31, 2018 would be charged to tax. While securities transaction tax (STT) was introduced in 2004 in lieu of LTCG, it remains to be seen how long both forms of tax will be charged in unison. Introduction of LTCG tax may lead to moderation in asset prices as the market factors in a lower level of realized post-tax returns. The budget also brought the dividend distributed by equity oriented funds under the tax net with a 10% dividend distribution tax (DDT). Thus equity oriented funds would now be taxed irrespective of growth or a dividend option as well as across investment horizons. Introduction of DDT may help to curtail the current inappropriate practice of purchasing equity oriented hybrid funds for the lure of regular dividends. However, by not bringing equity-oriented ULIPs (Unit Linked Insurance Plans) under the ambit of LTCG, the budget has introduced an undesirable tax arbitrage which may drive investors towards ULIPs which may not be in their best interest.



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Besides taxing of equity funds, the budget showed a focus on developing the bond markets. Large corporates being nudged to meet about one-fourth of their financing needs from the bond market and permitting bonds with an ‘A’ rating to be treated as eligible investment securities (vis-à-vis ‘AA’ rated bonds currently) should help deepen and diversify the corporate bond market. The government’s willingness to explore the Debt ETF route for its PSU disinvestment program is also a positive development in this regard. However, concerns about rising inflation, a rate hike, deviation from the fiscal glide path and narrowing liquidity surplus resulted in the 10 year G-Sec yield moving up by 18 bps post the budget announcement.

Govt. launching National Health Protection Scheme to cover over 10 crore poor families.

Senior citizens cheered the incentives on additional exemption on interest income from bank and postal deposits, a higher investment limit in an assured return government backed pension scheme and higher tax benefit limits for health insurance premium. Standard deduction also made a comeback for the salaried class after it was abolished in 2005.

The budget was very positive on the infrastructure front with the outlay increased by 20% from Rs.5 lakh cr (approx.) to Rs.6 lakh cr. This will include roads, railways, airports, smart cities, besides digital infrastructure. This coupled with the thrust on affordable housing reiterates the government’s emphasis on achieving the twin objective of growth and employment generation. What I missed in the budget was a thrust on augmenting private sector capex, and initiatives to improve the health of the housing construction sector (for urban middle class). A focus on enabling retirement savings via Mutual Fund Linked Retirement Plans (MFLRP) is also a missed opportunity. Such a scheme can play a significant role in improving the footprint of mutual funds as a long term investment product and help channelize household savings to capital markets.

Budget allocation on Infrastructure outlay increased by 20%.

Nevertheless, I commend the budget for the balance shown between populist measures and fiscal prudence. – Sanjay Sapre


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2018 could be the turnaround year for Real Estate.

Apparently, to most casual observers, it would look that the real estate sector is in dumps. That, this sector is marred with Builders getting bankrupt, or investors paying EMIs in projects that have been either delayed or nearly shelved. No doubt, the distress is high. But have we seen enough or there is more to come. According to experts, Real Estate has already gone through enough of pain. From here on, consolidation and gradual recovery should take place.

However, this recovery will not be broad based or at a break neck speed. It will happen in selective pockets. One of the biggest painpoint of Real Estate sector is oversupply. This is problem is getting corrected slowly and silently. You may refer the charts on the next page showing continuous fall in fresh project launches over the last 5 years.


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The below charts show that while the Residential sector oversupply is being tamed through reduction in fresh launches (down by 60%), the sales volumes have not plummeted that sharply (down by 40%), which is a good sign. Sooner or later, the sales volumes will increase with increase in income and corporate earnings. This shall create an equilibirium and set the ball rolling for new Real Estate cycle.



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Noteworthy here that the Commercial sector is far better placed than Residential sector. The chart on the right shows that the supply has been kept steady all these years, while the sales volumes too have kept pace. Referring to the charts, the number of transactions have gone up along with increase in rental rates. As a matter of fact, in 2012, the problem of oversupply was limited to Residential Sector only. The commercial sector didn’t build that problem around itself and managed to remain unscathed.

Now that the Demonetisation, GST and RERA have come into acceptance, we will see consolidation of projects in the real estate sector. The impact of all policy initiatives taken in 2016-17 are beginning to take shape. Completion of existing projects will be prioritized over launching new ones. With new guidelines, developers will be remodeling their business processes to streamline delivery and allied services, without stretching themselves too much in terms of debt or scope of work. The real estate engine will finally be on track

Sameer Rastogi, SAKSHAM WEALTH Solutions Pvt. Ltd.


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Decipher The Book : "How Rich People Think" 1. Rich people think selfishness is a virtue. "The rich go out there and try to make themselves happy. They don’t try to pretend to save the world," writes Siebold. 2. Rich people believe poverty is the root of all evil. "The average person has been brainwashed to believe rich people are lucky or dishonest," he writes. “The world class knows that while having money doesn’t guarantee happiness, it does make your life easier and more enjoyable."


rich is all a mind game. Multiplying your wealth has a lot more to do with psychology and mindset than we might think. In 1937, Napoleon Hill preached in his bestselling book, “ Think and Grow Rich,” the same logic after his intensive study of over 500 self-made millionaires. Steve Siebold, another self made millionaire of our times, who has interviewed 1,200 of the world’s wealthiest people during the past three decades, too agrees. According to his book, “How Rich People Think, "getting rich often has less to do with the money than the mentality, Here are the key mindsets of the wealthy that you could adopt today:

3. Rich people have an action mentality while average people have a lottery mentality. "While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes. 4. Rich people believe in acquiring specific knowledge ... while average people think the road to riches is paved with formal education. "Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge," Siebold writes. 5. Rich people dream of the future .. while average people long for the good old days. "People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression," Siebold writes.


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6. Rich people think about money logically... while average people see money through the eyes of emotion. "An ordinarily smart, well-educated, and otherwise successful person can be instantly transformed into a fearbased, scarcity-driven thinker whose greatest financial aspiration is to retire comfortably," Siebold writes. "The world class sees money for what it is and what it's not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities.”

7. Rich people follow their passion... while average people earn money doing things they don't love. "To the average person, it looks like the rich are working all the time," Siebold says. "But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it."

8. Rich people are up for the challenge.. while average people set low expectations so they're never disappointed. "Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed," Siebold writes. But, he says, "no one would ever strike it rich and live their dreams without huge expectations."


“Middle class believes building wealth is a solitary effort… World class believes building wealth is a team effort” - Steve Siebold -------------------------------------------The average person clocks in at nine and out at five. They are paid for the results of their individual efforts. This limits what they’re worth to an organization. The world class knows it takes a team to build wealth, and they focus much of their effort on finding the right people to leverage their actions and ideas. The greatest fortunes are built through the collective mental and physical contributions of a worldclass team. --------------------------------------------


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9. Rich people know the markets are driven by emotion and greed... while average people believe they're driven by logic and strategy.

11. Rich people find peace of mind in wealth while average people let money stress them out.

"The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe," Siebold writes. "This knowledge of human nature and its overlapping impact on trading gives them strategic advantage in building greater wealth through leverage."

The reason wealthy people earn more wealt is that they're not afraid to admit that mone can solve most problems, Siebold says.

10. Rich people teach their kids to get rich... while average people teach their children how to survive. Rich parents teach their kids from an early age about the world of "haves" and "have nots," Siebold says.

“Middle class is externally motivated to make money. World class is internally motivated to make money� - Steve Siebold -------------------------------------------The average person works for money. If their employer stopped paying, they would stop showing up. The great ones work because they love what they do and their work is one of the most fulfilling aspects of their lives. --------------------------------------------

12. Rich people would rather be educate than entertained... while average peopl would rather be entertained than educated.

"Walk into a wealthy person's home and on of the first things you'll see is an extensiv library of books they've used to educat themselves on how to become mor successful," he writes. "The middle clas reads novels, tabloids, and entertainmen magazines."

Sameer Rastogi, SAKSHAM WEALTH Solutions Pvt. Ltd.

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Heart Care


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Gizmo-Plush Money can't buy everything, but it can certainly get you some really awesome gears. Like, if you have $190,000 or close to Rs. 1.25 crores lying around, you can get your hand on this mean and very slick vehicle. At the first look it gives a feel of futuristic machine coming straight out of any Sci-fi film. In reality this an amphibian creature that can fly.

You may be familiar with the concept of the hovercraft. It’s an inflatable craft that glides over land and water on a cushion of air. Now add wings, a cool yellow and black paint design and a $190,000 price tag and you get the Flying Hovercraft designed by Hammacher Schlemer. Where To Buy :

This machine can get up to 20 feet off the ground and hit a top speed around 70 mph thanks to an assist from a 130-hp twin-cylinder, liquid-cooled gas engine. It has both a thrust propeller and a lift fan to help it fly. Though the hovercraft has some flying skills, it needs to be registered as a boat. With current government aggressively pushing for inland waterways development, it may not be long that we could see this mean machine buzzing around Ganges.

Abhay Gupta, SAKSHAM WEALTH Solutions Pvt. Ltd.



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“Mona Lisa” in the Bank

Last year “Salvator Mundi” by Leonardo da Vinci sold for the recordbreaking bid of $450million(Rs. 2,925 cr) at Christie's. In January 2017, an abstract oil painting by Vasudeo S Gaitonde fetched nearly $ 4.5 million(Rs. 29 crore). This has been the costliest Indian painting sold according to ARTERY India. Investing in art is picking up trend & has been rewarding for informed investors. For e.g., an M.F Hussain work could have been bought for Rs 1 lakh in the early-90s. Today, a typical work of the master painter could cost upwards of Rs 50 lakhs. This is a neat 15% CAGR over last 25 yrs. It is a similar story with other Indian painters such as Raza, Souza, Amrita Shergil & Anjolie Ela Menon. In India, paintings comprise 99% of the art market. If you are keen to invest in art, it is important to understand what the game is all about and a few basics of this asset class.

Things to consider while investing in art • • • • •

Art is not for trading. Invest for the long term. Not all artwork done by renowned artist are masterpieces. Buy what you like, as you may get to keep it for lifetime. Research the artist you want to buy. Your art doesn’t give any additional income like interest or dividends.


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Art is a good investment. Having said that, you cannot buy art as just an investment. You have to buy it as something you are passionate about. If you own a painting of a well-known artist backed by a good gallery, chances are it will see a slight appreciation over five-seven years. But real appreciation will happen over 1012 years or 20 years. Art experts are optimistic about the Indian antiquities market because of the revised Antiquities and Art Treasures Regulation( Export and Import Bill, 2017). Since the passing of the Act, there is no further need for special licenses for selling art objects more than 100 years old within the country. Before this, the traders couldn’t sell antiques like coins, sculptures, paintings, or other works of art without permit. This development makes experts feel bullish about the antiquities market. With online auction space widening & with rich affluent families investing in art, the volumes & prices are only likely to get bigger. Painting By M.F.Hussain

Sameer Rastogi, SAKSHAM WEALTH Solutions Pvt. Ltd.


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Market Insider Indian Debt Market Summary

Indian Equity Market Summary



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Global Equity Benchmark Indices Return (as on 15th February 2018) Indices

1 Month

DOW JONES -4.89% FTSE 100 -8.25% S&P 500 -5.18% SENSEX -1.80% DAX 30 -8.62% IBEX 35 -8.38% CAC 40 -7.95% NIKKEI 225 -11.79% SHANGHAI 50 -6.09% HANG -SENG -2.53%

3 Months

6 Months

1 year

3 Years

5 Years

4.84% -2.98% 3.30% 3.51% -3.64% -4.83% -4.36% -4.65% 0.03% 4.66%

10.60% -2.05% 9.91% 7.94% 0.39% -7.01% 0.53% 7.55% 9.61% 10.29%

16.65% 0.06% 11.00% 15.76% 3.07% 1.78% 5.13% 9.20% 17.10% 21.27%

9.86% 5.47% 7.00% 5.17% 3.26% -4.14% 2.19% 4.74% 6.05% 6.97%

10.68% 2.25% 10.26% 11.44% 8.36% 3.05% 6.15% 11.81% 8.16% 6.12%

Returns upto 1 year are absolute & over 1 year are compounded annualized.

Global Commodities Benchmark Return (as on 15th February 2018) Commodities

1 Month

3 Months

6 Months

1 year

3 Years

5 Years

Crude Oil







Natural Gas

















































Returns upto 1 year are absolute & over 1 year are compounded annualized.



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As on 14th Feb, 2018 All returns upto 1 year are absolute & over 1 year are compounded annualized. DISCLAIMER: This document has been prepared on the basis of publically available data on best effort basis. The information contained in this document is for general purposes only. The information/ data herein alone are not sufficient and should not be used for the development or implementation of an investment strategy. The same should not be construed as investment advice to any party. The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible/ liable for any decision taken on the basis of information contained herein.

TOP 10 MUTUAL FUNDS : EQUITY - SMALL CAP Scheme SBI - Small & Midcap Fund Reg (G) HDFC - Small Cap Fund (G) Reliance - Small Cap Fund (G) L&T - Emerging Businesses Fund (G) HSBC - Midcap Equity Fund (G) Aditya Birla SL - Small & Midcap Fund Reg (G) Sundaram - Smile Fund Reg (G) Union - Small and Midcap Fund Reg (G) Reliance - Mid & Small Cap Fund (G) Franklin - India Smaller Companies Fund (G)

AUM(Cr) 888 1783 5664 2892 584 1549 1384 279 3424 7075

30 Day -7.2 -5.26 -6.81 -6.48 -8.44 -7.66 -8.52 -7.66 -6.67 -5.78

3 Mon 10.37 8.06 7.45 4.03 4.61 1.67 2.27 6.31 2.38 2.80

6 Mon 35.56 26.52 25.64 19.03 23.48 17.37 15.83 17.5 14.79 15.47

1 Yr 53.3 44.13 42.66 40.17 31.24 30.03 29.16 26.69 24.29 24.19

3 Yr 27.26 21.54 23.69 25.32 17.69 21.18 16.09 10.43 14 31.78

5 Yr 36.84 23.97 35.39 NA 26.69 27.46 27.88 NA 25.36 29.38

10 Yr NA NA NA NA 10.02 14.99 15.5 NA 14.6 16.94

Ratin g ***** ** *** **** * ** * * ** ****

TOP 10 MUTUAL FUNDS : EQUITY - MID CAP Scheme IDFC - Sterling Equity Fund Reg (G) Edelweiss - Mid and Small Cap Fund Reg (G) Aditya Birla SL - Pure Value Fund Reg (G) SBI - Emerging Business Fund Reg (G) L&T - Mid Cap Fund (G) Can Robeco - Emerging equities Reg (G) Escorts - Growth Plan (G) Reliance - Reg Savings Equity Plan (G) Principal - Emerging Bluechip (G) Taurus - Discovery Fund (G)

AUM(Cr) 2065 556 2300 2234 1732 2823 5 3373 1504 49

30 Day -7.03 -6.58 -7.73 -3.81 -7.14 -5.45 -3.58 -6.41 -6.36 -5.38

3 Mon 3.04 5.9 2.94 5.94 -0.24 2.38 3.77 1.15 0.6 3.11

6 Mon 14.78 20.67 19.16 17.61 12.56 12.02 12.75 14.17 12.89 15.02

1 Yr 36.6 33.8 31.87 30.14 29.74 29.07 28.39 27.34 26.97 25.92

3 Yr 15.23 16.5 19.71 13.82 19.6 18.21 13.09 12.21 17.81 14.77

5 Yr 21.72 27.15 29.74 17.98 28.78 29.1 21.41 17.96 26.77 21.74

10 Yr Rating 18.82 *** 13.72 *** NA **** 13.43 ** 16.17 **** 17.31 **** 8.6 NR 11.89 * NA **** 6.73 **



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TOP 10 MUTUAL FUNDS : EQUITY - LARGE CAP Scheme SBI - Small & Midcap Fund Reg (G) HDFC - Small Cap Fund (G) Reliance - Small Cap Fund (G) Tata - India Consumer Fund Reg Plan (G) L&T - Emerging Businesses Fund (G) BOI AXA - Manufacturing and Infrastructure Fund (G) IDFC - Sterling Equity Fund Reg (G) SBI - FMCG Regular (G) BOI AXA - Tax Advantage Reg (G) IDFC - Focused Equity Fund Reg (G)

AUM(Cr) 30 Day 888 -7.2 1783 -5.26 5664 -6.81 413 -5.45 2892 -6.48 15 -5.73 2065 -7.03 415 -3.44 124 -7.59 965 -5.02

3 Mon 6 Mon 10.37 35.56 8.06 26.52 7.45 25.64 4.45 21.21 4.03 19.03 8 28.23 3.04 14.78 9.34 22.61 4.19 18.78 2.16 11.08

1 Yr 53.3 44.13 42.66 42.02 40.17 39.27 36.6 36.08 35.78 34.71

3 Yr 27.26 21.54 23.69 NA 25.32 15.76 15.23 16.1 13.31 11.58

5 Yr 10 Yr Rating 36.84 NA ***** 23.97 NA ** 35.39 NA *** NA NA NR NA NA **** 18.57 NA *** 21.72 18.82 *** 18.96 NA NR 19.68 NA *** 15.05 10.25 ***

TOP 10 MUTUAL FUNDS : EQUITY - MULTI CAP Scheme Tata - India Consumer Fund Reg Plan (G) IDFC - Focused Equity Fund Reg (G) Mirae - Asset Great Consumer Fund Reg (G) ICICI Pru - Indo Asia Equity Reg (G) Invesco - India Contra Fund (G) Principal - Growth Fund (G) Edelweiss - Economic Resurgence Fund Reg (G) Principal - Dividend Yield Fund (G) HDFC - Capital Builder (G) SBI - Contra Fund Reg (G)

AUM(Cr) 413 965 158 193 804 570 29 137 2135 1881

30 Day 3 Mon 6 Mon -5.45 4.45 21.21 -5.02 2.16 11.08 -5.46 2.69 13.17 -3.11 1.13 16.21 -4.13 4.92 18.21 -7.02 -0.61 14.46 -4.99 3.2 15.21 -5.44 0.61 14.77 -3.97 2.44 14.81 -4.22 2.68 14.37

1 Yr 42.02 34.71 33.01 30.33 29.22 29.16 29.03 27.46 27.34 27

3 Yr NA 11.58 14.38 13.13 14.25 15.22 13.28 13.84 13.49 10.47

5 Yr NA 15.05 19.79 19.55 22.4 21.01 NA 15.76 20.42 15.24

10 Yr Rating NA NR 10.25 *** NA NR 12.72 *** 14.98 **** 9.37 **** NA NR 10.88 ** 13.56 *** 9.56 **

TOP 10 MUTUAL FUNDS : EQUITY - HYBRID Scheme BOI AXA - Mid Cap Equity & Debt Fund Reg (G) Principal - Balanced Fund (G) UTI - Childrens Career Advantage Plan (G) Tata - Retirement Savings Fund Moderate (G) HDFC - Children Gift Invest HDFC - Children Gift Invest (Lock-in) Reliance - Reg Savings Balanced (G) HDFC - Retirement Savings Fund Hybrid Equity Reg (G) SBI - M Balanced Fund Reg (G) HDFC - Balanced Fund (G)

AUM(Cr) 30 Day 3 Mon 6 Mon 261 -6.48 4.38 19.78 705 -4.35 -0.84 11.58 227 -4.11 -1.42 8.4 371 -4.6 1.25 9.25 2021 -3.09 0.89 8.34 2021 -3.09 0.89 8.34 10498 -2.84 0.15 6.2 146 -2.98 1.3 7.71 17955 -3.15 0.29 8.72 18027 -2.5 0.55 6.52

1 Yr 32.19 25.46 23.78 21.11 20.61 20.61 18.65 18.64 18.36 18.27

3 Yr NA 14.27 11.01 13.18 11.66 11.66 11.35 NA 10.19 11.76

5 Yr NA 17.38 16.35 20.1 18.5 18.5 16.74 NA 17.29 18.88

10 Yr Rating NA NR 10.86 **** 12.01 *** NA ***** 15.46 **** 15.46 **** 14.11 *** NA NR 11.37 **** 15.06 ****



AUM (CR) 39 5 119 30 4 50 68 7 512 22

30 D -3.52 -0.75 -4.27 -2.34 -1.74 0.74 -0.26 -2.39 0.2 -0.55

3 Mon -0.17 2.23 -0.39 4.58 0.26 6.04 2.69 0.82 2.01 1.4

6 Mon 14.96 10.91 8.45 14.03 8.97 13.35 11.2 7.09 10.41 7.89

1 Yr 36.3 26.5 25.58 22.8 20.36 20.05 19.99 17.89 16.48 16.14

3 Yr 13.02 8.31 11.71 6.6 NA 7.33 16.6 9.25 10.14 6.06

5 Yr 14.15 NA 11.25 6.69 NA 7.27 23.3 NA 16.17 3.48

10 Yr NA NA 9.06 5.35 NA NA NA NA NA 5.56




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TOP 10 MUTUAL FUNDS : DEBT- SHORT TERM Scheme Franklin - India ST Income Plan Ret (G) Franklin - India Low Duration (G) Baroda Pioneer - Short Term Bond Fund (G) Escorts - ST Debt (G) DHFL Pramerica - Short Maturity Reg Fund (G) DHFL Pramerica - Short Term FRF Reg (G) Reliance - Medium Term Fund (G) Aditya Birla SL - ST Fund Reg (G) UTI - Banking & PSU Debt Fund Reg (G) HDFC - ST Opportunities Fund (G)

AUM(Cr) 9218 5728 618 6 1815 1035 12044 21453 1423 11301

30 Day 0.61 0.56 0.31 0.45 0.37 0.4 0.4 0.34 0.37 0.38

3 Mon 1.03 1.31 0.98 1.47 0.6 1.09 1.01 0.66 0.64 0.84

6 Mon 2.89 3.12 2.56 3.07 1.86 2.62 2.58 1.97 2.33 2.3

1 Yr 8.28 8.02 7 6.72 6.59 6.51 6.45 6.39 6.35 6.32

3 Yr 8.51 9.17 8.39 7.87 8.15 7.68 8.09 8.3 8.74 8.03

5 Yr 10 Yr 9.27 9.19 9.47 0 8.56 0 8.86 8.87 8.65 8.72 8.16 0 8.39 8.01 8.88 8.1 0 0 8.58 0

Rating **** ***** ***** **** **** ** **** *** **** ****

TOP 10 MUTUAL FUNDS : DEBT- CREDIT OPP Scheme BOI AXA - Corporate Credit Spectrum Fund Reg (G) Franklin - India Income Oppt Fund (G) Franklin - India Dynamic Accrual Fund (G) Category Average - Credit Opportunities Aditya Birla SL - Corporate Bond Fund Reg (G) Franklin - India Corporate Bond Oppo (G) Baroda Pioneer - Credit Opportunities Fund Plan A (G) Aditya Birla SL - Medium Term Plan Reg (G) L&T - ST Income Fund (G) DHFL Pramerica - Credit Opportunities Fund Reg Plan (G)

30 Day 0.44 0.59 0.56 1.35 0.42 0.53 0.33 0.36 0.4 0.39

3 Mon 1.52 1.22 1.07 1.74 0.77 1.14 0.95 0.73 1.03 0.7

6 Mon 3.31 3.04 2.86 2.26 2.1 3.02 2.45 1.95 2.75 2.39

1 Yr 8.65 8.28 8.16 8.08 8.06 7.95 7.91 7.56 7.51 7.13

3 Yr NA 8.57 9.37 9.01 NA 8.6 9.63 8.92 8.85 8.93

5 Yr NA 9.25 9.05 9.19 NA 9.28 NA 9.82 8.93 NA


10 Yr AUM(Cr) g NA 1398 **** NA 3289 **** 7.56 2974 **** 8.18 NA NR NA 4582 *** NA 6706 *** NA 912 **** NA 11749 ** NA 1134 **** NA 944 ***

TOP 10 MUTUAL FUNDS : DEBT- Dynamic Bond Fund Scheme IIFL - Dynamic Bond Fund Reg (G) ICICI Pru - Long Term Plan Reg (G) ICICI Pru - Dynamic Bond Fund Premium Plus (G) JM - STF (G) Quantum - Dynamic Bond Fund Reg (G) Baroda Pioneer - Dynamic Bond (G) DHFL Pramerica - Dynamic Bond Fund (G) ICICI Pru - Dynamic Bond Fund Reg (G) UTI - Dynamic Bond Fund (G) Tata - Dynamic Bond Fund Plan A (G)

30 Day 0.31 0.09 -0.3 0.26 -0.35 0.27 -0.06 -0.41 0.05 0.11

3 Mon 0.79 -0.05 -0.66 0.62 -0.96 0.22 -1.41 -1.01 -1.1 -0.66

6 Mon 1.78 -0.36 -0.39 1.6 -1.18 0.74 -1.47 -1.07 -1.06 -0.82

1 Yr 7.23 6.16 6 5.78 5.75 5.24 5.12 4.57 4.38 4

3 Yr 6.68 8.43 9.08 7.02 NA 7.75 7.23 7.76 7.9 6.77

5 Yr NA 11.07 9.6 7.78 NA 8.75 7.86 8.48 9.25 8.74

10 Yr NA NA NA 8.77 NA NA NA NA NA 7.29

AUM(Cr) Rating

38 3674 1249 32 NA 21 185 1558 1880 1156

*** **** *** ***** *** **** *** **** **

TOP 10 MUTUAL FUNDS : DEBT- GILT SHORT TERM Scheme IDFC - G Sec Short Term Reg (G) SBI - M Gilt STP Reg (G) ICICI Pru - Gilt Fund Treasury PF Option Reg DSP BlackRock - Treasury Bill Reg Fund (G) UTI - G-Sec Fund STP (G) ICICI Pru - Short Term Gilt Fund Reg (G) HDFC - Gilt Fund Short term (G) CRISIL Gilt Index Sundaram - Gilt Fund Reg (G) CRISIL 10 Year Gilt Index

AUM(Cr) 96 490 67 39 26 149 376 NA 13 NA

30 Day 0.24 0.25 0.17 0.43 0.44 0.01 -0.02 -0.36 -0.62 -0.81

3 Mon NA 0.53 -0.32 1.38 0.89 -0.19 -0.54 -1.7 -2.16 -2.93

6 Mon 1.12 1.65 0.8 2.78 1.89 0.63 0.07 -2.14 -2.39 -4.34

1 Yr 3 Yr 5 Yr 10 Yr Rating 6.37 7.96 9.48 6.54 *** 5.93 8.89 9.7 8.34 **** 5.9 8.99 6.46 7.32 **** 5.73 6.54 7.58 6.56 ** 5.47 7.12 7.69 6.87 ** 5.2 8.12 8.34 8.35 *** 4.62 7.78 7.84 6.85 * 2.9 6.94 NA NA NR 1.79 5.02 9.24 6.94 * -0.19 6.19 6.2 6.12 NR



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TOP 10 MUTUAL FUNDS : DEBT- GILT MEDIUM & LONG TERM Scheme BNP Paribas - Govt. Securities Fund (G) Aditya Birla SL - Gilt Plus PF Plan (G) ICICI Pru - Gilt Fund Investment Plan PF Option Reg (G) Edelweiss - Govt. Sec Fund Reg (G) DHFL Pramerica - Gilt Fund Reg (G) Aditya Birla SL - Banking & PSU Debt Fund Reg (G) ICICI Pru - Constant Maturity Gilt Fund Reg (G) SBI - M Gilt Fund Long Term Reg (G) Reliance - Gilt Sec Fund (G) ICICI Pru - Long Term Gilt Fund Reg (G)

AUM(Cr) 30 Day 13 -0.24 158 -0.4 896 -0.3 712 0.24 162 0.17 632 0.43 35 -0.25 3155 -0.86 1528 -0.51 1014 -0.5

3 Mon -0.62 -2.17 -1.1 0.67 -0.9 1.34 -1.66 -2.04 -1.94 -2.07

6 Mon -0.85 -2.76 -2 1.63 -0.29 -0.05 -1.67 -2.52 -2.61 -3.34

1 Yr 6.02 5.47 4.8 4.53 4.49 4.29 3.94 3.69 3.54 3.52

3 Yr 7.85 7.7 7.73 6.71 7.39 6.62 7.48 7.5 7.46 7.23

5 Yr 10 Yr Rating NA NA **** 9.1 7.41 **** 8.98 9.79 *** 0NA NA *** 7.89 NA *** 8 9.38 NR NA NA *** 9.78 7.17 ***** 8.8 0 **** 7.92 8.55 ***

TOP 10 MUTUAL FUNDS : ARBITRAGE Scheme L&T - Arbitrage Opportunities Fund (G) Edelweiss - Arbitrage Fund Reg (G) Kotak - Equity Arbitrage Fund (G) DHFL Pramerica - Arbitrage Fund Reg (G) BNP Paribas - Enhanced Arbitrage Fund (G) Indiabulls - Arbitrage Fund - Reg (G) Reliance - Arbitrage Advantage Fund (G) UTI - Spread Fund (G) Invesco - India Arbitrage Fund (G) SBI - Arbitrage Opp Fund Reg (G)

30 Day 0.59 0.56 0.54 0.5 0.45 0.58 0.73 0.58 0.58 0.69

3 Mon 1.55 1.54 1.52 1.34 1.35 1.63 1.67 1.56 1.61 1.66

6 Mon 2.99 2.92 2.94 2.74 2.79 3.05 2.98 2.96 2.94 2.96

1 Yr 6.27 6.22 6.2 6.2 6.19 6.18 6.18 6.13 6.04 5.98

3 Yr 6.61 6.72 6.6 6.56 NA 6.9 6.68 6.5 6.49 6.31

5 Yr NA NA 7.54 NA NA NA 7.47 7.07 7.1 7.32

10 Yr NA NA 7.36 NA NA NA NA 7.32 6.95 7.11

AUM(Cr ) Rating 523 *** 4878 *** 13215 *** 845 *** 612 NR 584 NR 8222 *** 1972 ** 453 ** 1287 **

TOP 10 MUTUAL FUNDS : GOLD Scheme HDFC - Gold ETF IDBI - Gold ETF Can Robeco - Gold Savings Reg Fund (G) SBI - Gold Fund Reg (G) Can Robeco - Gold ETF HDFC - Gold Fund (G) UTI - Gold Exchange Traded Fund (G) R*Shares Gold BEES Invesco - India Gold ETF Quantum - Gold ETF (G)

30 Day 0.36 0.42 0.82 0.26 0.25 0.68 0.38 0.43 0.37 0.34

3 Mon 1.43 1.64 1.81 1.01 1 1.31 1.53 1.44 1.46 1.43

6 Mon 2.16 2.59 4.49 2.58 2.67 2.67 2.35 2.26 2.18 2.19

1 Yr 2.19 1.84 1.67 1.58 1.51 1.51 1.36 1.17 1.07 1.07

3 Yr 2.12 2.24 1.4 1.64 1.99 1.69 1.97 2 1.87 1.81

5 Yr -1.33 -1.27 -2.07 -1.94 -1.72 -1.88 -1.4 -1.39 -1.47 -1.49

10 Yr NA NA NA NA NA NA 8.54 8.52 NA 8.11


464 70 45 399 52 227 432 2474 37 55



1M -2.00% -4.40% -4.00% -3.00% -3.00% -4.10% -1.80% -0.70% -6.20% -5.30% 0.80% -2.60%

3M 0.60% 0.50% -1.00% -0.30% 1.60% 2.00% 8.20% 3.70% 2.50% 0.00% 2.10% 9.40%

6M 4.80% 3.70% 3.80% 2.70% 4.40% 2.30% 12.40% 14.80% 4.20% 4.00% 4.10% 17.00%

1Y 29.60% 23.40% 23.00% 25.00% 22.00% 23.10% 43.50% 33.40% 32.90% 26.20% 24.00% 46.70%

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Wealthy & Wise February 2018 Issue  

Wealthy & Wise, a wealth insight magazine started by SAKSHAM WEALTH Solutions Private Limited. under guidance of Mr. Sameer Rastogi. The m...

Wealthy & Wise February 2018 Issue  

Wealthy & Wise, a wealth insight magazine started by SAKSHAM WEALTH Solutions Private Limited. under guidance of Mr. Sameer Rastogi. The m...