Recently 2 Nris asked me this often asked question. I remember Srikant doing a story on Moneycontrol sometime back regarding the same.
I come from a school of thought that ‘whatever happens in my life is because of me’. However this was before I saw some managers handling some gullible people’s portfolios.
Both these are HNI customers (mutual fund investments upwards of Rs. 3 crores in each of the cases). Both the portfolios had all the schemes in the country! I asked them for their investment list and what I got was such a long list that it looked like a download from the amfi website for the total list of equity and balanced schemes. Both had the gold schemes, but of course no etf.
Not to mention the average, median and mode of the investment, but yes it was large no. of schemes. Both the investors had only signed one form, and after that they have no clue about what happened.
So …..here is…the question to all of you ‘how many mutual fund schemes should I hold’???