RBI Policy Street View:-

* No event if RBI hikes repo by 25bps and cuts MSF by 25.. Any extra cut in msf will be huge positive.

* MSF will not help PSU Bank. As there is already low Loan demand PSU will not utilize more Margins..

* Panic Selling if Repo hiked more than 25 bps.

* Remote chances of a Status Quo on Repo rate by RBI. But if that happens, Relief  Rally would be witnessed.

Maruti Suzuki India Ltd., the nation’s biggest carmaker by volume, reported second-quarter profit that beat analyst estimates after a weaker Japanese yen cut import costs.

Net income at Suzuki Motor Corp.’s Indian unit almost tripled to 6.7 billion rupees ($109 million) in the three months ended September, the New Delhi-based company said in a statement yesterday. That exceeded the 5.48 billion-rupee median of 43 analysts’ estimates compiled by Bloomberg.

The carmaker benefited as the rupee gained more than 5 percent against the Japanese yen in the 12 months ended September, making components imported from Japan cheaper. Maruti’s local deliveries gained 15 percent in the quarter to 241,562 units, as a deadly riot in the year-earlier period led to a drop in output.

In a first of its kind of disinvestment, state-run hydro power producer NHPC would buy back government shares which would yield the exchequer about Rs 2,000 crore.
  
The Empowered Group of Ministers (EGoM) on disinvestment, headed by Finance Minister P Chidambaram, is likely to give its approval to this effect soon, official sources said.
  
Under the buyback mode, the government can raise money by selling its equity in the company to the PSU itself.

Please share some good information and News to share with this Group

Do you want to get shared with the latest information about Mutual Fund Industry?

Join IFA Voice  

-  This Group consist of Knowledgeable IFAs hence we share only information as you are Knowledgeable.  

Membership (FREE) to the group only on request.  As of now we have 78 Members.  

Share the problems you face with the fund houses and the regulator will take it up with the necessary authorities and try our best to solve it.

Who will be the 100th Member of IFA Voice? (He will be getting a surprise Honor)

Ramesh Bhat K,
Moderator, 
IFA Voice

Forthcoming Mutual Fund Distributors CPE Programs

Source:  http://www.nism.ac.in/index.php?option=com_content&view=article&id=309&Itemid=376

S.No	Date of the CPE Program	Centre	Provider	Contact Details for Registration
1	24-Oct-13	Delhi	NSE	Vikas Panwar, Kunal Tyagi, 011- 49393032 / 50,vpanwar@nse.co.in, ktyagi@nse.co.in
2	25-Oct-13	Ahmedabad	CIEL	cpe@ciel.co.in 022-42170575
3	25-Oct-13	Chandigarh	CIEL	(Not for General Public)
4	25-Oct-13	Kolkata	NSE	Avik Gupta 033 40400403 guptaav@nse.co.in
5	25-Oct-13	Lucknow	CIEL	cpe@ciel.co.in 022-42170575
6	25-Oct-13	Patna	CIEL	cpe@ciel.co.in 022-42170575
7	25-Oct-13	Pune	CIEL	cpe@ciel.co.in 022-42170575
8	26-Oct-13	Hyderabad	NSE	GS Vinayak 040-23357082/83 gvinayak@nse.co.in
9	26-Oct-13	Kochi	NSE	Mahesh Hariharan 9500085937 hariharanm@nse.co.in
10	26-Oct-13	Nasik	CIEL	cpe@ciel.co.in 022-42170575
11	26-Oct-13	Raipur	CIEL	cpe@ciel.co.in 022-42170575
12	27-Oct-13	Bangalore	NSE	Mahesh Hariharan 9500085937 hariharanm@nse.co.in
13	30-Oct-13	Mumbai	NSE	Anil Jawaharani 9987222032 ajawaharani@nse.co.in
14	08-Nov-13	Bangalore	CIEL	cpe@ciel.co.in 022-42170575
15	08-Nov-13	Chennai	CIEL	(Not for General Public)
16	08-Nov-13	Mumbai	CIEL	cpe@ciel.co.in 022-42170575
17	10-Nov-13	Bhubaneshwar	CIEL	cpe@ciel.co.in 022-42170575
18	11-Nov-13	Delhi	NSE	(Not for General Public)
19	14-Nov-13	Lucknow	CIEL	(Not for General Public)
20	15-Nov-13	Ludhiana	CIEL	cpe@ciel.co.in 022-42170575
21	19-Nov-13	Hyderabad	NSE	(Not for General Public)
22	22-Nov-13	Delhi	CIEL	cpe@ciel.co.in 022-42170575
23	22-Nov-13	Hyderabad	CIEL	cpe@ciel.co.in 022-42170575
24	22-Nov-13	Kolkata	CIEL	cpe@ciel.co.in 022-42170575
25	23-Nov-13	Mumbai	CIEL	cpe@ciel.co.in 022-42170575
26	02-Dec-13	Delhi	NSE	(Not for General Public)
27	06-Dec-13	Mumbai	CIEL	cpe@ciel.co.in 022-42170575
28	13-Dec-13	Delhi	CIEL	cpe@ciel.co.in 022-42170575
29	13-Dec-13	Hyderabad	CIEL	cpe@ciel.co.in 022-42170575
30	20-Dec-13	Bangalore	CIEL	cpe@ciel.co.in 022-42170575
31	20-Dec-13	Kolkata	CIEL	cpe@ciel.co.in 022-42170575
32	20-Dec-13	Mumbai	CIEL	cpe@ciel.co.in 022-42170575
33	23-Dec-13	Delhi	NSE	Vikas Panwar, Kunal Tyagi, 011- 49393032 / 50,vpanwar@nse.co.in, ktyagi@nse.co.in

• NISM may cancel/postpone any of the programmes for lack of enough registrations or any other reason.
• For additional details, send mail to cpe@nism.ac.in

Mutual Fund Distributors CPE

Registration for the CPE Program

• Candidate willing to attend a Mutual Fund Distributors CPE Program may approach an NISM Accredited CPE Provider with a duly filled CPE Registration Form.
• Please keep the following information handy while making calls to any of the CPE Providers for registration:

1. Name and Address
2. PAN Card Number
3. Current Certificate Name
4. Current Certificate Number and Expiry Date
5. ARN Number
6. Preferred CPE Location
7. Phone Number
8. Email id

More Details Visit http://www.nism.ac.in/index.php?option=com_content&view=article&id=258:registration-for-mutual-fund-distributors-cpe&catid=58:mutual-fund-distributors&Itemid=168

Eligibility Criteria and Requirements

(A) Eligibility Criteria for NISM Mutual Fund Distributors CPE Program

General category

Any person holding a certificate of AMFI Mutual Fund (Advisors) Module (till May 31, 2010) or the ‘NISM-Series-V-A: Mutual Fund Distributors Certification Examination’ (from June 1, 2010) and where the validity of such certificate has not expired may appear for NISM’s CPE Program for Mutual Funds Distributors, on submission of the required documents(as mentioned in (B)).

Note: Candidates with a valid certificate of the AMFI Mutual Fund (Advisors) Module or the ‘NISM-Series-V-A: Mutual Fund Distributors Certification Examination’ can appear for NISM’s CPE Program for Mutual Fund Distributors not before twelve months prior to expiry of the said certificate.

Grandfathered by age category

Any person who has completed the age of 50 years as on May 31, 2010, whether holding or not holding the certificate of AMFI Mutual Fund (Advisors) Module or ‘NISM-Series-V-A: Mutual Fund Distributors Certification Examination’ may appear for NISM’s CPE Program for Mutual Fund Distributors under the Grandfather Type I category, on submission of the required documents (as mentioned in (B)).

Grandfathered by experience category

Any person having experience of 10 years or more as a distributor, agent or employed or engaged in the sale and/or distribution of Mutual Fund products, as on May 31, 2010, whether holding or not holding a certificate of AMFI Mutual Fund (Advisors) Module or ‘NISM-Series-V-A: Mutual Fund Distributors Certification’, may appear for NISM’s CPE Program for Mutual Fund Distributors under the Grandfather Type II category, on submission of required documents (as mentioned in (B)). 

 More Details Visit http://www.nism.ac.in/index.php?option=com_content&view=article&id=170:eligibility-criteria-and-requirements&catid=58:mutual-fund-distributors&Itemid=167

Frequently Asked Questions  1. Am I eligible for NISM Mutual Fund Distributors CPE Program?

2. When should I register for a CPE Program? 3. How can I register for a CPE Program? 4. What is to be done after I register via email or call? 5. What if there are very few persons interested in NISM’s CPE Program for Mutual Fund Distributors from my preferred location? 6. What if the NISM’s CPE Program for Mutual Fund Distributors date and/or venue do/does not suit me? 7. I am a senior citizen. How can I obtain a NISM Mutual Fund Distributors Certificate for the first time? 8. I have been working in the industry for a long time. Can I attend the Mutual Fund Distributors CPE Program under Grandfathered by experience category? 9. What are the documents required at the Venue? 10. I have lost my certificate. How can I appear for NISM CPE Program? 11. When do I get my certificate? 12. How can I track the status of my certificate? 13. I have misplaced my CPE certificate. How do I apply for a duplicate certificate?  More Details Visithttp://www.nism.ac.in/index.php?option=com_content&view=article&id=127:frequently-asked-questions&catid=58:mutual-fund-distributors&Itemid=138

10 Countries With Largest Gold Reserves

Please Click on the link below to view the article

CLICK HERE

NISM-Series-V-A: Mutual Fund Distributors Certification Examination - Removal of negative marking

AMFI had taken up various issues relating to NISM Certification Examination and Continuing Professional Education program, with NISM. One of the issues was to do away with the negative marking for the said exam.

NISM has now informed AMFI that negative marking will be removed for NISM-Series-V-A: Mutual Fund Distributors Certification Examination w.e.f. October 25, 2013.

AMCs are requested to propagate this among prospective distributors by using various forums such as marketing campaigns as well as training programs conducted by the AMCs.

We are sure this step would make it easier for the prospective distributors to pass the exam and obtain registration. This will definitely help in increasing feet on street in Tier II/ Tier III centers.

Mutual funds: Amfi extends fee waiver for new distributors

Source:  http://www.indianexpress.com/news/mutual-funds-amfi-extends-fee-waiver-for-new-distributors/1130337/

Mutual fund industry body Amfi has decided to extend the fee waiver for new distributors from June 30 to September 2013 with a view to attract more distributors to sell mutual fund products. The waiver is mostly targetted at the 'new cadre of distributors' that was formed by Sebi last year.

* Best Performing Mutual Funds

"It's a welcome move on Amfi's part," said Ramesh Bhat, member of IFA Galaxy, a body of independent financial advisors. "There are quite a few procedural delays that is preventing the new cadre of distributors from registering themselves at the moment. The additional three months will hopefully give the new distributors enough time to comply with all the procedural requirements."

As per rates put up on Amfi's website, individuals have to pay R3,000 for the Amfi registration number (ARN), while the new cadre of distributors has to pay R1,500 for the registration. This fee has been waived off till the end of September.

According to sources, new cadre registrations have been delayed owing to a lack of coordination between Amfi and National Institute of Securities Markets (NISM), a public trust established by Sebi.

Several fund houses, which had earlier begun training the new category of distributors, are now going slow on training new aspirants owing to the prevailing confusion between these two entities, sources said.

FE had earlier reported that less than 200 distributors have been registered under the 'new cadre of distributors' category and that Amfi was planning to extend the fee-waiver deadline. The new cadre is required to pass a Series V-B: Mutual Fund Foundation Certification Examination or Mutual Fund Foundation CPE Program designed by NISM.

Some market participants believe that the three month extension, however, will not be enough to attract the new distributors. "Amfi should have extended the deadline by at least a year as it will take time to attract distributors under this new category," said a senior fund official on condition on anonymity.

Mutual fund body Amfi extends fee waiver for new distributors by another 6 months

Source:  http://www.financialexpress.com/news/mutual-fund-body-amfi-extends-fee-waiver-for-new-distributors-by-another-6-months/1182929

Mutual fund industry body Amfi has decided to extend the fee waiver for new distributors from September 30, 2013, to March 31, 2014, with a view to attract more distributors. Amfi had earlier decided to extend the fee waiver for new distributors from June 30 to September end this year.

The fee waiver assumes significance at a time when the industry is struggling to attract distributors to sell MF products. At present, the number of independent financial advisors (IFAs) stands at about 49,000, while corporate distributors number about 6,000. In contrast, the insurance industry has about 2.5 million agents selling insurance products.

The fee waiver is especially targeted at the ‘new cadre of distributors’ that was formed by Sebi in September last year. The new category, which allows personnel such as postal agents and retired government officials to sell units of simple MF schemes, has got a lukewarm response, with just about 1,000 people signing up under this category in the last one year.

“It’s a welcome move considering that there are not enough incentives for distributors to sell MF products,” said Ramesh Bhat, founder-president, IFA Galaxy, a body of independent financial advisors. “At least now the registration will be free, and the distributor can opt to pay fees and renew his registration after a year if he gets enough assets.”

As per rates put up on Amfi's website, individuals have to pay R3,000 for the Amfi registration number (ARN), while the new cadre of distributors has to pay R1,500 for the registration. This fee has been waived off till the end of March next year. For ARN renewal, individuals have to pay R1,500, while the new cadre of distributors has to shell out R750.

“This initiative will help us attract feet on street in tier-II and tier-III cities,” said V Ramesh, deputy CEO, Amfi.

Sintex Q2 Results

Sintex surprises street, Q2 net profit up 0.7% at Rs 73 cr

Consolidated total income surged 13.8 percent to Rs 1,365 crore in September quarter from Rs 1,199 crore in a year ago period, supported by strong growth in its prefabricated building systems, monolithic and custom moulding businesses.

Read more at: http://www.moneycontrol.com/news/results/sintex-surprises-street-q2-net-profit07-at-rs-73-cr_970104.html?utm_source=ref_article

Reliance Industry Results

Business Standard gives five reasons for the stock prices to rise on Tuesday trading. I am quoting their comments below, point by point.

Reliance Industries has posted a slightly better-than-expected set of numbers. Though prima facie the difference may be marginal, a closer look reveals that the quality of its numbers are stronger than expected and may call for a revision across the board.

Here are five reasons why the market will be excited with numbers.

1. Its net profit is higher at Rs 5,490 crore for September 2013 quarter as compared to market expectation of Rs 5,400 crore. However, this has been achieved on a marginally lower contribution from ‘other income’ and higher from its business divisions. Other income as a per cent of its operating profit has come down to 26.8 per cent as compared to 34 per cent in June 2013.

2. Higher operating profit of Rs 5,616 crore has been achieved despite a 3 per cent higher cost of crude oil on a year on year basis. This is despite the fact that gross refining margin (GRM) was only $7.7 per barrel as compared to $9.5 per barrel in September 2012 and $8.4 per barrel in June 2013.

3. Higher profits have been possible on account of higher contribution from its petrochemical division. Profits from this division increased sharply to Rs 2,504 crore as compared to Rs 1,888 crore in the previous year and Rs 1,704 crore for the same quarter in the previous year. Margins from this division improved to 10.1 per cent for September 2013 as compared to 8.6 per cent in the sequential quarter and 7.9 per cent in September 2012.

4. Decline of Oil and Gas division has been arrested. Both revenue and profitability has flattened. Revenue from this division stood at Rs 1,464 crore in September 2013 as compared to Rs 1,454 crore in June 2013 and Rs 2,254 crore in September 2012. Contribution to overall profit stood at Rs 356 crore, Rs 352 crore and Rs 866 crore respectively.

5. At the net level Reliance is cash positive with a cash chest of Rs 90,540 crore. On a per share basis this means each share has a cash component of Rs 280 with it. 


Now it for the boarders to decide the price levels for trading.