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[04:25:04 PM]
=> Welcome to the live chat session at
myiris.com
[04:26:17 PM] => Myiris:
Mr. U.R.Rao, Divisional Manager, Canbank Mutual Fund will
be joining us in a few moments
[04:26:42 PM] => DISCLAIMER
[04:27:12 PM] => Mr. U.R. Rao
is the Divisional Manager and Funds-in-charge, Canbank Mutual
Fund. At the time of this conversation / chat, Mr. Rao may
or may not have positions in the stocks mentioned below, although
holdings may change at any time.
[04:27:44 PM] => The views expressed
by Mr. U.R. Rao is based upon information that he considers
reliable, but does not represent that it is accurate or complete,
and it should not be relied upon as such. Mr. Rao, his company
and its affiliates, officers, directors, partners, and employees
may, from time to time, have long or short positions in, buy
or sell and deal as principal in the securities, or derivatives
thereof, of companies mentioned herein and may take positions
inconsistent with the views expressed. None of the information
contained herein constitutes, or is intended to constitute
a recommendation of any particular security or trading strategy
or a determination that any security or trading strategy is
suitable for any specific person. To the extent any of the
information contained herein may be deemed to be investment
advice, such information is impersonal and not tailored to
the investment needs of any specific person. You should consult
with and rely upon your own advisors whether and how to use
such information in making any investment decision.
[04:28:24 PM] => Lastly the views
expressed by Mr. U.R. Rao have no bearing whatsoever with
that of IRIS Ltd. IRIS does not guarantee the accuracy, adequacy
or completeness of any information and is not responsible
for any errors or omissions or for the results obtained from
the use of such information. IRIS especially states that it
has no financial liability whatsoever to any user on account
of the use of information provided on its website www.myiris.com.
[04:39:35 PM] => Atul : What are
your views on the FMCG sector for the coming months?
[04:40:47 PM] => UR
: FMCG sector may be in a position to show positive growth
in the coming days as they have been able to save cost in
terms of procuring the raw-materials at the best rates and
also reduce cost on account of internal restructuring etc.
Besides if the demand picks up on account of good monsoon
,they may be in a position to improve the top line also.
[04:41:18 PM] => Raghu : Do you
think that the relaxation of the DPCO will improve the prospects
of the pharma sector?
[04:41:41 PM] => UR
: Any relaxation in the DPCO will improve the prospects of
the pharma companies
[04:42:10 PM] => Ramesh : After
the US-64 fiasco, is there going to be an erosion of confidence
in Mutual Funds?
[04:42:46 PM] => UR
: I am of the opinion that the US-64 fiasco may not have much
impact as the matter is being sorted out.
[04:43:15 PM] => Naren : Whats
been the impact of US-64 crash on canbank mutual?
[04:44:10 PM] => UR
: Though the indications are there about the interest rate
easing, I think interest rate may not fall in the short run
as 60% of the Govt borrowing is completed. At the best the
rate will rule at the current levels.
[04:44:50 PM] => Sriram : What
is the target set by Canbank mutual fund, with regard to net
asset base, over the next one year?
[04:45:28 PM] => UR
: We have set the target of mobilizing funds to the extent
of Rs 200 crores in the short run.
[04:46:04 PM] => Suraj : What
are your views on second rung IT stocks? Will they survive?
[04:47:09 PM] => UR
: As the market is bottomed out, in case of some rally, the
first rung IT companies stocks will go up first. Thereafter
we can see the chances of second rung stock prices going up.
[04:50:27 PM] => Anita : What
are your preferred investment sectors in the current market
conditions?
[04:50:46 PM] => UR
: Cement ,pharma and old economy stocks may do well.
[04:52:17 PM] => Manish Desai
: I want to ask about Flat product Limited Company. Company
has High Book value, Promoter's holding is also high, Dividend
paying company of 25%, Profitability is also too good. Why
company's shares is not going up?
[04:53:42 PM] => UR
: No comments.
[04:55:29 PM] => Dheeraj Lohia
: What do you think about the prospects of Hindustan Sanitaryware.
Should it be purchased at cmp of 34?
[04:55:41 PM] => UR
: I can not offer my comments
[05:00:26 PM] => Gopi : What does
canbank mutual funds offer new to the investor, I sit good
for long term investing or short term?
[05:01:04 PM] => UR
: Some of our Schemes are doing well say Cangilt(PGS) , Cancigo
, Canpremium . One can look for these Schemes on merits.
[05:01:33 PM] => Gopi-25 : Is
Canbank mutual funds profitable for a new investor like me?
[05:02:21 PM] => UR
: No comments.
[05:03:11 PM] => Manoj : Do you
think the private sector mutual funds are going to be adversely
affected by the US-64 fiasco? What are your views on the future
direction of the Indian Mutual Fund Industry?
[05:03:26 PM] => UR
: Mutual Fund Industry has good growth prospects.
[05:03:51 PM] => Srivastava
: When do you see the reversal in the US slowdown happening?
[05:04:41 PM] => UR
: I am of the opinion that the US economy may take some more
time to recover.
[05:05:51 PM] => Sapna : What
are the views on the growth rates in the Indian economy going
forward? What steps can revive the economy?
[05:06:15 PM] => UR
: Indian economy may grow at the rate of 5-6%.
[05:08:05 PM] => Shalini : What
are your views on the divergent trends between FIIs and Mutual
Funds with respect to secondary market?
[05:10:52 PM] => FII
continue to invest in the Indian market . Mutual Funds may
be net sellers for the purpose of meeting redemption needs
and for the purpose of booking profits.
[05:13:09 PM] => Ashutosh : What
are the new schemes planned for launch in the current year?
[05:13:22 PM] => UR
: We have plans to launch debt based Schemes besides Money
market Schemes
[05:20:18 PM] => Myiris : Hold
on friend, Mr Rao will be back in a moment
[05:31:41 PM] => bahvin_g: What
does the future hold for the mutual fund industry after the
UTI scam and most of the funds whose NAV are quoting at a
discount.
[05:32:10 PM] => UR
: UTI problem is only temporary and is being sorted out. Once
the market picks up , the present problem of erosion in the
NAV of the Scheme may also gets solved to a greater extent.
[05:32:40 PM] => Nilima: What
future do you see for PSU sponsored funds after UTI crisis?
[05:33:09 PM] => UR
: We are confident about the future as the growth prospects
for the industry is very good.
[05:33:43 PM] => Sanjay: How long
do you think we shall continue seeing huge inflows into debt
funds? Are high returns by debt funds sustainable?
[05:34:17 PM] => UR
: Since the yields are coming down , growth what has been
seen now in the Gilt Schemes may not be sustainable. However
if the fund is active in churning out the portfolio, still
they can earn additional spread and reward the investors.Last
three month was very good for the Gilt Schemes.
[05:34:41 PM] => Nilesh: Where
do you see interest rates heading?
[05:35:50 PM] => UR
: I am of the opinion that the interest rate may not come
down in the short run though there are some indications in
this regard. At the best the rate may stabilize at the current
levels. However in the medium term to long term the rate may
fall.
[05:36:11 PM] => Ashok: What factors
do you look at while selecting scrips?
[05:36:59 PM] => UR
: Promoters track record, Fundamentals of the stock are the
prime considerations besides the growth prospects of the Industry
vis-a-vis the company.
[05:38:13 PM] => Vij: Number of
funds are tying up with post offices for distribution of their
funds? What has been canbank's strategy?
[05:39:23 PM] => UR
: We have 16 investor relations centres across the country
to serve our investors (existing/potential)
[05:40:38 PM] => Jajoo: All Your
ELSS schemes are in the negative since inception - even your
one year returns are in the negative or just slightly positive.
Don't you think that as a taxpayer I would have been better
off paying my taxes and keeping it in an FD or debt mutual
fund then investing with you?
[05:41:11 PM] => UR
: In one or two ELSS Schemes there are historical problem
of schemes being launched when the market was at its peak.
Hence Schemes have suffered. On the long run Equity market
has given better yield when compared to other tax saving instruments.
[05:42:28 PM] => Abhik: I shall
like to know about the future plan of your fund?
[05:42:51 PM] => UR
: We are planning to come to the market with debt schemes
in the short run.
[05:43:36 PM] => Milima: Does
the US -64 fiasco signal the end of assured return schemes?
Will you ever launch an assured return scheme in the current
scenario?
[05:44:22 PM] => UR
: Now mutual Funds are not allowed to come with assured income
Scheme. In case of assurance which is permitted only for the
first one year as per SEBI Regulations only after complying
with the Regulations. Assured income Schemes are the not the area
meant for Mutual Funds.
[05:49:41 PM] => kaushik : What
is the reason that investors prefer private sector mutual
fund as compared to public sector mutual fund? Is it because
of poor marketing?
[05:50:25 PM] => UR
: May be true for the present. But the strength of the public
sectors can not be ignored. It is a cyclic pattern. Trend
may get reversed also.
[05:51:54 PM] => MAHARAJ79: By
your answer on US 64 quote "matter is being sorted out". You
mean to tell me that the every time a public sector institution
like yourself goes BUST you need the government should BAIL
you guys out- the Honest taxpayers money is used to Bail you
MF managers wrong doings?
[05:52:13 PM] => UR
: I said Sorted Out not Bail out.
[05:52:38 PM] => Vijayan: AS per
a report in ET the government has only completed 36% of its
borrowing for this fiscal quarter - how do you have the number
of 60% - can someone give me facts.
[05:53:21 PM] => UR
: Gross borrowings of Rs 61000 crore already mobilized out
of the targetted around Rs.1,18,000 crore.
[05:53:41 PM] => John: What is
your views on the impact pensions funds investing in capital
market, if allowed ?
[05:54:03 PM] => UR
: I am of the opinion that the we may have to wait for some
more time for the market to stabilize and to mature.
[05:54:31 PM] => Mani: How do
you compete with other funds when it comes to attracting talent
- Pvt funds pay higher salaries and perks which is normally
not the case with PSU's - how do I believe that my money if
invested with you is getting or is being put to the best possible
stock through the hands of a capable Fund Manager ?
[05:54:51 PM] => UR
: Public sector still has competent and talented staff and
are in a position to perform.
[05:55:08 PM] => Karuna: Your
view on the economy - are we now finally into a recession?
[05:55:23 PM] => UR
: I don�t think so
[05:56:49 PM] => Myiris: That's
all we have time for in today's chat
[05:57:33 PM] => Myiris : Thank
you all
[05:58:21 PM] => Don't forget
to log on for the Friday's chat with Mr. Chintamani of moneypore.com
[05:59:11 PM] => Thank you once
again and see you next time.
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