All Bank Consumer Protection Group
All Bank-Consumer-Protection Group
Is the Mutual Fund Industry in India a big scam ?
I have personal experience with HSBC, Axis, HDFC, Citibank, Tata AIG and of course ICICI & Reliance in last 5 - 7 Years. I have lost lot of money in Mutual Funds
Who made Big money ?
Who lost Big money ?
Investors like Me :(
I completely agree to the fact that most of the mutual funds do not deliver. We tend to forget that the investor has to bear the overhead of the fund. Wherever you come across an advosor wearing a tie, be on your guard. I have personal experience with Citibank, Tata AIG and of course ICICI & Reliance take the cake as the smoothest and biggest swindlers. Retail investors should not, rather must not fall for these glib talking so called fund managers. Rest assured almost all of them cannot read a balance sheet, let alone analyze it for your benefit. He/she is, rather naturally, interested in their target and commission. You can't fault them on that count. I would have done the same. Tell me how many fund managers, including the greats like Udayan Mukherjee insisted that you sell out in Dec'08 or in Oct'10? None. Why should they? Lonely voices like Simi Bhowmick, Shankar Sharma get drowned in the silk smooth con-talk of the wolf pack circling for your hard earned money.Richard Nixon, in his defense to Watergate reasoned that most of the people hate to take their own decision, they would rather out-source it to politicians. So, retail investor friend,-- take your own decision,at least you will have the consolation that it's your decision. You are not held a sucker by a mutual fund manager of dubious integrity.
Indian MFs charge relatively MUCH HIGHER fees compared with most US funds - Average of over 2% vs 1.1% for US funds and this despite paying lower salaries.
Also MFs keep starting a plethora of funds with fancy names. This in a world where you can only LEND or BLEND. The large number of confusing MFs is not for the benefit of investors but the fund houses.
Mutual funds are saprophytes sucks the blood of investors, their should be some kind control over it.any way poor middle class is here to getting cheated swindle their earning up to their bone. Nothing is going to happen other than attractive empty advertisement and continues cheating.