Re: [www.keralites.net] MUTUAL FUND-please help

 

Dear All, Regarding the mutual funds and also the insurance policy linked to units it is true that there is a lot of false marketing going on. Many a times even the managers of the bank who sell these policies either out of ignorance or to cheat some customers tell that you need to pay only for three years or five and then the policy will grow at the rates of 20%etc. But all these are false promises. First of all in such scheme all of you should understand that the money you invested is NOT the money you pay, it is actually the money you pay minus all the charges. Typically only 60%of the money you pay is reallistically deposited. Then evry year  there is prohibitive charges in the name of policy maintaince chrege, fund administrative charge etc.. etc... Hence you should except to pay minimum of 6-7 years when the fund value will be equal to you invested value. And in todays scenario when the market is so low you may NOT get even the value  invested after 10 years. Hence you sre ADVISED NOT TO INVEST IN ANY MUTUAL FUND OR UNIT LINKED INSURANCE UNLESS YOU UNDERSTAND THESE VERY WELL .The bank interest is now very attractive for NRE deposit so make use of it and deposit for long years .it will be definitely better. Anup Kumar --- On Thu, 19/1/12, Sabu m k <mk_sabu71@yahoo.com> wrote: From: Sabu m k <mk_sabu71@yahoo.com> Subject: Re: [www.keralites.net] MUTUAL FUND-please help To: Keralites@yahoogroups.com Date: Thursday, 19 January, 2012, 1:58 PM   Dear Mr.Rassana You are completely wrong and I think ignorant about mutual fund & ULIP investment markets. All equity based mutual funds are investing/trading in share market and is subject market risk. Probelm now market is down so the unit value is going down. Also for Mutual funds IRDA have no role and need to go to SEBI if any complaint and in case of insurance companies can go to IRDA. Also there is no relation with the banks in this case. But from the first mail, came to know that is ULIP and can very well know about the scheme if the policy document and prospects read. rgds/sabu   --- On Wed, 1/18/12, mohammed rassana <mrassana@yahoo.co.in> wrote: From: mohammed rassana <mrassana@yahoo.co.in> Subject: Re: [www.keralites.net] MUTUAL FUND-please help To: "Keralites@yahoogroups.com" <Keralites@yahoogroups.com> Date: Wednesday, January 18, 2012, 2:37 AM   dear sir,    all the banks rules are as like as the same. they must give their rules and regulations.    if you pay remaining full amount [ you must pay the remaing balance amount ]to relience  and may get back full amount.    try with your concern agent also.    in my case also  the same with icici bank. i paid two instalment 50000+50000= 100000 one lake  i cannot pay the third instalment . now they forced  me to pay the third instalment  to get full up to date amount, otherwise they  pay me back only the balance amount  with deduction of their rules.    what can i do? i said ok then you pay me  the balance  as per your rules and regulations .    but stll they didnot pay yet. first this is our mistake. all the banks and bank agent s are theifs. first they said some thing, afetr that they completely return to side of the bank.   if we put our deposite in normal sanvings bank account, instead of this type of  investment with relienc or like icici bank we can get ful amount with up to date interest.   totally we are mislead by the bank staffs  and  agent. this should be erased from the banking law    this must  taken to the irda with a group of people who they are affected  like this.    how we can do it?. please consult with the lawyer.   thanks  regards  em. rassana From: jamal kk <jamalkk2000@yahoo.com> To: Keralites <Keralites@yahoogroups.com> Sent: Wednesday, 18 January 2012 1:35 AM Subject: [www.keralites.net] MUTUAL FUND-please help   Dear Friends,   I am a member of Reliance mutual fund under the scheme equity automatic investment plan since 2008. my deposit is 1 lakh . It is a 3 year plan but I invested only once in this plan(18-02-2008) and cound not continue in the next years(18-02-2009,18-02-2010)     Now as per the online report my status is ULIP - auto lapsed and my fund value is only 67,587/- after 3 years. and when I contacted the reliance office could knew that only I will get the money as per the statement after deducted perticular % of fees ( around Rs 3000)   My agent was mis undestood me from the begining that my investment will be secure always because it is under IRDA. Please help some body to know what amount I can claim in this regards and what are the procedures.     Thanking you www.keralites.net

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