Mumbai: Buy into debt: Don’t be buried under it. To offset poor equity returns, advisers are asking savers to buy debt SIPs. Liquid and ultra-short-term funds are prescribed for those with short-term goals. Those with a longer investment horizon should look at long-duration or gilt funds. “SIPs in debt mutual funds help you ride interest rate volatility and build long-term wealth. They are affordable as investors can start with small amounts,” said DP Singh, executive director, SBI Mutual Fund. Singh said in the next couple of decades, as the Indian economy matures further, average return expectations would be in line with those in the developed economies. Thus, on a risk-adjusted basis, debt allocation will be an important pivot for long-term investors. Although systematic investment plans (SIPs) in debt mutual funds have been present since long, asset managers and distributors focused on SIPs in equity-oriented mutual funds. Inflows through such SIPs have stayed … [Read more...] about SIP on debt funds to tide over interest rate volatility
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We debate surrogacy in elite drawing rooms and talk of the dangers of commercializing it. But how many stop to consider a surrogate mother’s emotions when she parts with the child she has nurtured as her own for nine months? Author Amrita Mukherjee does that in "Diary of A Surrogate Mother" – one of the 13 short stories in her anthology Museum of Memories. Amrita’s stories are sensitive portrayals of the life she has seen as an Indian journalist. She picks her subjects carefully from all walks of life, covering an amazing range -- depicting everyday life and phenomena. And then again, her narration reveals a keenly sharp observation and an ability to look beyond what is visible. The author has a fascinating way of looking at same, everyday things from a different angle. As Amrita says in the book blurb, she collected her stories from all over – “at the office cafeteria, at drawing room conversations, during interactions with strangers while travelling on … [Read more...] about Micro review: ‘Museum of Memories’ – Stories that touch the heart!
MUMBAI: Banking and financial stocks came under significant pressure on Friday after the Reserve Bank of India (RBI) extended the loan moratorium by three months, resulting in a fall in benchmark indices as banking constitutes nearly 40 per cent of the total weight in both Sensex and Nifty. RBI Governor's comments of a likely negative GDP growth in FY21 and weak global cues also weighed on sentiment, however, some buying in IT and auto stocks helped trim losses towards fag-end of the trading session. The RBI in a surprise move cut repo rate by 40 bps to 4 per cent, a level last seen in 2000 earlier today. "The repo rate cut by the MPC is in line with the recent economic data warranted for an immediate cut, but the extended moratorium of 3 months pose some risks in the possibility of rising NPA’s which has dragged the market's momentum and banking stocks to trade at day’s low,” said Vikas Jain, Senior Research Analyst, Reliance Securities. BSE Finance index was the … [Read more...] about Bank stocks, RBI’s GDP outlook drag Sensex 260 points down
By Kartik Goyal Foreign funds have slashed their holdings of India’s government bonds to the lowest in three years amid dwindling returns, just as the nation embarks on a mammoth borrowing plan. The amount of sovereign securities held by global funds has slumped 767 billion rupees ($10 billion) from this year’s peak in February as steep hedging costs diminished pay-offs in one of Asia’s highest-yielding markets. The rupee’s plunge by about 6% in 2020 further reduced the appeal of Indian debt. “While the dollar cost of funding has come down for overseas investors, the cost of hedging foreign currency risk has stayed stubbornly high,” said Harihar Krishnamoorthy, treasurer at FirstRand Bank Ltd in Mumbai. “On a fully hedged basis, the spreads on government bonds could even be negative for short term paper, thus appetite from foreign investors is going to be lackluster.” Foreigners hold about 1.1 trillion rupees or less than 2% of … [Read more...] about Foreigners flee India’s bond market just when it needs them most
The sequel to L.S. Hilton's last year’s hit, Maestra, Domina is yet another gripping thriller featuring Judith Rashleigh. Finally enjoying the life all her past deeds have won her, Judith is living in Venice running an art gallery. She’s caught off guard when someone who knows too much makes an appearance and threatens her new life. She must work to find a painting she does not believe exists and unfortunately she’s not the only one looking for it. Her attempts to avoid being found out take her from Venice to Paris to Belgrade and to St Moritz, cities filled with art and beauty which provide a brilliant backdrop. The author's descriptions of artwork and the cities are wonderfully detailed and show her personal love for both, unlike her descriptions of clothes- which is essentially nothing more than designer name dropping. Still she works a combination of the two to create scenes of glamour and decadence amidst the fast pace tale. The protagonist doesn’t seem to … [Read more...] about Micro review: ‘Domina’—a good start to your summer reading