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Comments Posted

Name : dilip bharti	City : dhanbad
ARN NO : ARN-72250	Date : 12 Oct 2015
Comments :
Jignesh V Shah, good night that is sabka shath some ones ka vikash sab eq market me invest karenge aur prfit lenge to badi machhliyan chhoti machhliyon ka kaise sikar karengi. hahahahahah


Name : atul shah	City : Ahmedabad
ARN NO : 0225	Date : 12 Oct 2015
Comments :
MF is basically for retail investors .. But AMCs have made it for HNIs & corporates...UTI was for retail till its TRANSITION into UTI MF (MORE THAN 30 YEARS FOR RETAIL-MOSTLY) (1)Adopt common practices & USE common data--- THEREFORE USE "MF UTILITY PLATFORM" CREATED BY AMCs FOR DATA SHARING..(2) BOYCOTT ALL TECHNICS DEVELOPED BY AMCs individually.. (3)AMCs must concentrate on performance/fund management rather than on how investors shall transact? (4) AMC bosses must see that CVL & MFU DATA is regularly updated in their records..(5) Severe punishment be awarded to employees & executives for negligence in updating records... (6) All comunication from AMC & REGISTRAR shall be in uniform formats only..


Name : Krishna Gopal Gupta	City : Kalyan
ARN NO : 28233	Date : 11 Oct 2015
Comments :
Dear Jignesh Bhai: You have undoubtedly put a lot of efforts in creating the well thought article. It reflects so many worries of IFA fraternity. May I add further that most of the AMCs have their owner partners as bank and banks are promoting their own AMCs and not true to the real investors though banks are exposed to investors accounts fully and exploit them intentionally. In my view, banks should be STOPPED to distribute MFs/Insurance at all. Let them continue their banking operations to full satisfaction of their clients. They should vacate the distribution for IFAs fraternity. The SEBI should look into it seriously. Another point is like this. The investors has to apply individual AMCs for change of mobile number and there is no format. KYC modification is only for change of address and nothing else, why?


Name : Jayanti	City : Mumbai
ARN NO : 3069	Date : 11 Oct 2015
Comments :
even investment of 1 L & 20 K are getting IT notices, it is rediculous


Name : A.K.JAISWAL	City : MANDSAUR
ARN NO : 9563	Date : 11 Oct 2015
Comments :
Well said. Fully agree with points raised.


Name : Bhalchandra Palshetkar	City : Thane
ARN NO : 46714	Date : 11 Oct 2015
Comments :
Very well thought article..


Name : Kum Kum Sinha	City : Bhubaneswar
ARN NO : ARN-25740	Date : 24 Aug 2014
Comments :
very true. I may also like to add that once our investor get his/her addressed changed /updated in KYC it should automatically update his/her address in all his/her MF Portfolio.


Name : V SRINIVASAN	City : HYDERABAD
ARN NO : ARN 4008	Date : 20 Jul 2014
Comments :
I completely agree with the above points. Further i would like to know the procedure and the documents required in a case where the Investor has separated from her husband resulting in change of name. The investor has got the govt. gazette and has the pan card and bank account changed with the new name. The investor has investments with a few amcs Can someone help me if they had similar experience


Name : Rajeev Misra	City : Dehradun
ARN NO : 15395	Date : 12 Jul 2014
Comments :
I agree fully with shri Jignesh Shahs issues raised in the above topic,Ido not understand why does Sebi not take any action . It seems that they know about these issues which have been raised from time to time by the advisor but they simply ignore or are disinterested. It is we people who face the difficulty almost on daily basis.It is high time they look into these issues and simplify the procedure.There should be one rule followed by each Amc.


Name : K K Sadanandan	City : Kochi
ARN NO : 30562	Date : 10 Jul 2014
Comments :
Yes, definitely procedure followed by AMCs must be standardised and simplified. Even though, we have been hearing about various plans to boost the MF industry, nothing is happening.


Name : hari kamat	City : panaji-Goa
ARN NO : 1920	Date : 08 Jul 2014
Comments :
For change in bank account only, without change of bank and branch why should AMC ask for old proof. Can anyone open a bogus account in the same branch without the approval of bank staff.if amc dont trust banks then why accept signature attestation from same staff. e


Name : rajesh	City : amritsar
ARN NO : 1572	Date : 07 Jul 2014
Comments :
very good pt s but some more to redreesed like claw back b-15 incentive even 1 day left . direct model in equity schemes , tax implication very huge difference in equity funds & debt funds 65% minimum equity fund manager shoud given free hand to change accordindg to market condition,or welcome the investors who takes equity 15/25% mip funds also treet as equity funds


Name : Amol Chitale	City : Solapur
ARN NO : 30587	Date : 07 Jul 2014
Comments :
Jignesh Bhai, Top Article ! Thanks for your time and effort ! Only thing I would like to add is Investor Education and Investors Experience regarding Returns both have been bad. Also the number of Schemes Must be Reduced. On every point you have written All IFAs are with you.


Name : MANJEET SINGH	City : saharanpur
ARN NO : 3030	Date : 06 Jul 2014
Comments :
Glad you brought these issues. It is certainly frustrating to see at times the issues getting unresolved with registrar and AMCs demanding so many things. My 70% energy is getting exhausted in sorting out these issues leaving very liitle time for procuring new business. Hope they make our lives a bit simpler.


Name : Francis m c DCruz	City : Goa
ARN NO : francis m.c.dcruz	Date : 06 Jul 2014
Comments :
Your facts are totally true but AMFI will find it very difficult to digest.I trust powerful enzymes are used which will help in solving these issues early.


Name : DHAVAL SHAH	City : vadodara
ARN NO : 0018, shreeji invest	Date : 06 Jul 2014
Comments :
VERY GOOD ARTICLE. I TOTALLY SUPPORT YOU & IF ANY ONE NEDD MYSUPPORT BY ANY MEANS I M READY TO GIVE. CUSTOMER SATISFACTION IS THE PRIME REASON THAT NEW OR OLD INVESTORS ARE NOT READY TO INVEST IN MUTUAL FUND. ALL POINTS ARE VALID & NEED TO BE SOLVED URGENTLY & ON PRIORITY BASIS. ONE MORE POINT REGARDING "KYC UPDATE OR CHANGE CASE ", THERE IS NO WEBSITE IN MY KNOWLEDGE AFTER SO MANY SEARCH REGARDING ONE CAN SEE & CONFIRM THE CHANGES WHAT HE OR SHE APPLIED. WHERE ONE CAN FIND HIS CHANGES ARE DONE OR NOT ? ALSO IT TAKES SO MANY TIME TO UPDATE & SO MANY AGENCIES FOR KYC. WHY NOT ONE SINGLE AGENCY FOR KYC ? ALSO TRANSCTION FORMS SHOULD BE COMMON & SIP STOP FORMS SHOULD ALSO BE COMMON FOR ALL AMC.


Name : SHRIRAM GHAISAS	City : THANE
ARN NO : 36366 MKG FINVEST	Date : 06 Jul 2014
Comments :
Excellent write up with most relevant issues. I hope the concerned authorities take cognisance of it. More such writings will help bring in necessary changes at Industry level.Jigneshbhai keep it up.


Name : Mr.N.M.Kamath	City : Mumbai
ARN NO : 5678 /Individual	Date : 05 Jul 2014
Comments :
I fully agree with you. Further after AMFI stopped payment of brokerage/ commission payments directly, and introduced the system of collecting 1% of investment, by IFAs towards commission/service charges directly from investors, on one hand the investor would feel uncomfortable, and on the other, the IFA would find this amount insufficient to cover his conveyance expenses, leave alone cost and time incurred in servicing the small investor. This was a great setback and a factor responsible for the drop in investments in mutual funds.


Name : sudhir kr mishra	City : Patna
ARN NO : ARN 63566	Date : 05 Jul 2014
Comments :
There many AMC which are providing only txn options but not the the REDEMPTIO option so i have to carry extra txn although the customer has statement.


Name : DINESH KUMAR DIKSHIT	City : LUCKNOW
ARN NO : 8988	Date : 05 Jul 2014
Comments :
all the points raised are to the marks


Name : bharati chhotaray	City : bhubaneswar
ARN NO : 35385	Date : 05 Jul 2014
Comments :
The points raised by Jigneshji are timely.All the IFAs face these problems.But both the AMFI and AMCs turn a deaf ear to our concerns.Because the IFAs have no union.All the IFAs should stop giving business for a period in protest to get these problems solved.


Name : Yogesh Borude	City : Nashik
ARN NO : 86500	Date : 05 Jul 2014
Comments :
All these issues are correct but sir plz go with the style of todays generation. Go digital. Start opening demat A/Cs for mutual fund transactions. it will save clients hard time & so as yours.


Name : Sudhir Vachhani	City : Rajkot
ARN NO : 5545	Date : 05 Jul 2014
Comments :
Congratulations Jigneshbhai. You have made really very good efforts for proper solution of serious problems of retail investors and IFAs. I am working in this field since last 19 years and have seen ups and down of market. I have raised such problem many times at proper platform but instead of solving old issues, some new problems come in way which interest and confidence of investor and IFAs. Apart from all these issues it is very tough and challenging for us to keep up confidence of investors in adverse market situation. We become helpless many times due to such problems and loss our investors. It also affect while investing in other financial product we offer to our investors.Instead of loosing other business too, its better to leave this business. We (IFAs) do business with so many problems as if we dont have our own value. Give strong oppose and give no business call to bring attention of higher authorities.


Name : N K ETHIRAJULU	City : MADURAI
ARN NO : 51814	Date : 05 Jul 2014
Comments :
I totally agree with your views. Politicians and bureacurats are ignoring Black Money investments and over scrutinize white money investments. Because their investments are relatively low in MFs, Opposite the case when they remit to Swiss Banks.


Name : PRASHANT C. MANSATA	City : BHUJ
ARN NO : 32115	Date : 05 Jul 2014
Comments :
Its TRUE. transactions relented problem is there. And also there is different form and rules in each AMC. Direct sales is also big problem for us.


Name : Sunita Jain	City : New Delhi
ARN NO : 5314	Date : 04 Jul 2014
Comments :
It appears that AMCs are not at all interested in the retail investor. They are effectively turning away investors by their unfriendly approach. There is no uniformity of approach and KYC is only a means of harassment. If AMCs and SEBI dont change their behaviour mutual funds will no longer appeal to the small retail investor.


Name : Raj Kumari Jain	City : Firozabad U.P.
ARN NO : 10158	Date : 04 Jul 2014
Comments :
we are fully agree with you. We also seems that provision for Direct is also affecting investments. AIR limit for Mutual fund should be 20 Lac. and only for purchase. you will also surprise to know that a onwer of four wheeler of 20 lac will not required to file even ITR.


Name : ashok kumar modi	City : jamshedpur
ARN NO : 65917	Date : 04 Jul 2014
Comments :
problem which the Jinesh bhai arose are the draw back in MF Industry,the retail investor is very much away by this.


Name : Manjeshwar	City : Dharwad
ARN NO : 71148	Date : 04 Jul 2014
Comments :
Very well said Sir, as long as we all dont do something nothing will change. Lets all keep one day in a month as a Black Day and not to login any Application across the industry Pan India or something else to put pressure on the AMFI or AMC.


Name : Jeegar Shah	City : Navsari
ARN NO : 25311	Date : 04 Jul 2014
Comments :
Very well said...AMCs are only interested in New Business. They are not concerned about the service part. The representatives of the AMCs are only interested in their targets. Jigneshbhai you have genuinely pointed out all the issues which are the part of our day to day work & they all takes out much more times then it should have been.


Name : NITIN VYAS	City : AHMEDABAD
ARN NO : ARN30207	Date : 04 Jul 2014
Comments :
ALL ABOVE ARE VERY TRUE. BUT APART FROM THIS THE INCOME FOR THE DISTRIBUTOR IS VERY VERY LOW. NORMAL INVESTOR INITIALLY WILL INVEST RS.10000 OR 20000. NOW OUT OF THIS TEN OR TWENTY THOUSANDS WE ALL KNOW HOW MUCH DISTRIBUTIR WILL GET. AT SUCH A LOW INCOME WHO WILL LIKE TO WORK ? EVEN AAFTER ONE YEAR 0.4 % MEANS 40 OR 80 RS. PER PERSON. HOW MANY DISTRIBUTORS CAN SURVIVE ON THIS SMALL AMOUNT ? EVEV THE DOGS DONT EAT THE ROTI NOW . THEY EAT ONLY BISCUITS. DO U UNDERSTAND THE DISTRIBUTORS LOWER THAN DOGS ?


Name : jayanti dedhia	City : Mumbai
ARN NO : 3069	Date : 04 Jul 2014
Comments :
Very well and truly said in this article To add some more points: even client investing 20-50K in MF gets the IT notice..to effect the changes in KYC like change of address the experience is horrible, one of my client commented that it is easy to get Ph D from the University then get addressed changed in MF..If AMFI-SEBI is really serious about retail penetration in the industry then they must seriously think on this operational issues


Name : PARESH MEHTA	City : NEW DELHI
ARN NO : ARN-41939	Date : 04 Jul 2014
Comments :
Jigneshbhai, I completely agree with you. You have really pin-pointed the problems investors facing and ultimately our industry suffers. Once again , ther are new application forms introduced. Every now and then, there is some new requirement comes in Mutual Funds.


Name : Bhupesh D Momaya	City : Mumbai
ARN NO : 47067	Date : 04 Jul 2014
Comments :
I totally agree with Mr Jigneshbhai. All these regulations, formalities are adversely affecting the mutual fund industry on a whole and advisors in particular. The worst scenario is in case of death of investor where investments was done in joint name with either or survivor option selected. The survivor for claiming the amount had to undergo lot of formalities in the form of Franking documents, Notarising the documents, Kyc of survivor etc. What is the meaning of holding the investments in joint name? Again & Again bringing new kyc forms, change in name, Bank account details its all rediculous. Are we going back to 19th century?


Name : LAXMIKANT PATHAK	City : NASIK
ARN NO : 43960	Date : 04 Jul 2014
Comments :
SIRJI you said every advisers mind it very true every adviser facing this problem


Name : Kapil Patel	City : Bardoli
ARN NO : D A Consultant	Date : 04 Jul 2014
Comments :
I am totally agree with Jigneshbhai. Industry leader must have to focus to remove such hurdle for investor and should make process simple. Single application and transaction form for all AMC could save lots of money from printing unnecessary stationary.


Name : Bina Pandit	City : Mumbai
ARN NO : 50763	Date : 04 Jul 2014
Comments :
I completely agree with Jigneshbhai, every now and then procedure and forms change for MF Application and KYC. currently again they have change KYC forms and application forms, there may be so much wastage of stationeries in the process every time. standardization is another problem, every AMC has different rules ad regulation for all procedures, be it bank change, name change or any other change. This need to be address by all concerned on urgent basis.


Name : Deepak R Khemani	City : MUMBAI
ARN NO : 7707	Date : 04 Jul 2014
Comments :
I recently asked a CEO of a top MF on a live CNBC event as to why we cant have a common application form for all AMCs you know what was his reply, "when you go to a Bank to open an account do you use the application form of that bank or is there a common bank account opening form"? and went on to say Next question please. What he conveniently forgot was that banks dont have IFAs opening their account, people walk into the bank to open an account. How many of IFAs have offices and how many of these have people walking in to Buy MFs. How many forms is an IFA supposed to keep in his office or carry in his bag? This is the level of intelligence of the top guys and we expect them to improve or listen to us? It is the same set of investors who move from equity to debt to equity to gold and now are flocking back to equity when the markets are up. More the markets go up less will the regulator, and top bosses listen to us as they feel that business will come anyway.


Name : Gagan Deep	City : Gurgaon
ARN NO : 53155	Date : 04 Jul 2014
Comments :
All real issues have been highlighted & now all AMCs & AMFI should take appropriate steps to resolve them asap...


Name : Vikaas M Sachdeva	City : Mumbai
ARN NO : Edelweiss AMC	Date : 04 Jul 2014
Comments :
These are valid points. I am forwarding this to the concerned authorities. Thanks for bringing it up


Name : ASHOK kAKKAD	City : RAJKOT
ARN NO : 82605	Date : 04 Jul 2014
Comments :
I am with Jigneshbhai. As per my opinion none of the above point is as complicated and difficult to get understand regulators by Mutual funds seniors. Instead of only concentrate on increasing AUM Mutual fund has to tackle these issues to regulators SERIOUSLY AND WITH DUE CONCERN. If Mutual funds are not able to handle the issue, should allow wealth forum to take up the issue directly to regulators on behalf of them. But now this is high time to raise the voice for all these genuine issues. I congratulate jigneshbhai to raise valid issues @ the appropriate forum.


Name : Dinesh Bhalawan	City : surat
ARN NO : 12422	Date : 04 Jul 2014
Comments :
Jigneshbai, very rightly put up by you. It is high time and AMC should consider it on top priority, to help IFA and investor. One more point is also to be focused is merging of schemes , in the same fund house. When Scheme merge , it is very difficult to keep record and update same.


Name : Abbasali Mava	City : Himatnagar
ARN NO : ARN-74744	Date : 04 Jul 2014
Comments :
Jigneshbhai, Really much needed points written by you. This all must be reach to all AMC, SEBI and AMFI. Retail investors can boost energy to all the distributors and can help to IFAs.


Name : abhijeet chatterjee	City : kolkata
ARN NO : 76548	Date : 04 Jul 2014
Comments :
Mis selling resulting in erosion of capital of investors is another area of concern for us. A common grievance of most investors is that post office MIS/bank FD offers guaranteed 8 to 9% (although taxable) whereas mutual funds result in depletion of funds. This basic fact has resulted in investors (young and old) putting their money in FDs. I think distributors need to prove that mutual funds are better performers through proper asset allocation. Twenty years have wiped out investor confidence, we now need to do train IFAs so that they consider risk profile and suggest a proper asset allocation to all customers.


Name : Murli Krishnamurthy	City : Pune
ARN NO : 0084	Date : 04 Jul 2014
Comments :
Great Article Jignesh bhai. Change of Maiden name to married name in the fund statement is a herculean task.The investor prefers to close the folio and redeem into her unclosed bank account with the maiden name, rather than go through the rigamarole. More painful for SIPs.


Name : atul shah	City : ahmedabad
ARN NO : 0225	Date : 04 Jul 2014
Comments :
100% correct observations.. I suggest:- 1) All CEOs who had created problems adopting -- " common application & other forms"- be kicked out urgently-- (like congress) & Modiji like SEBI CHIEF be appointed.. 2)bankers attestation be abolished.& made not acceptable.. . AMC executives must attest documents based on originals.. AMCs have R.M & LOT OF EXECUTIVES FOR FIELD WORK-- 3) BACK OFFICE staff must know about practices adopted in all other fields of financial investments.. They must be sent to other institutes for practical knowledge... 4)Product designs be simple-- EVALUATE CONCEPT OF " MOTILAL OSWALS AMC Which says- 3 to 4 equity schemes are enough for running AMC for rewarding investors in best ways..


Name : CA. Neha Agrawal	City : Pune
ARN NO : 8725	Date : 04 Jul 2014
Comments :
I am fully agreed with Jigneshbhai view.


Name : V.chakrapani	City : chennai-82
ARN NO : 3187	Date : 04 Jul 2014
Comments :
Timely and apt .But will the A.M.C.S honestly correct themselves and help the investors to come forward to invest in future. I experienced the same in my personal level both from the bankers while attest the signatures and the lack of knowledge on the part of the A.M.C.s By delaying tactics they are actually making the investors to loose.


Name : Rajesh Kapadia	City : Valsad
ARN NO : ARN-29460	Date : 04 Jul 2014
Comments :
Dear Jigneshbhai, Very true. AMC should consider it on top priority.


Name : nayan j mehta	City : surat
ARN NO : ARN-26370	Date : 04 Jul 2014
Comments :
EXCELLENT ARTICLE AND TO THE POINT YOU ARE MR. JIGNESH SHAH. BUT I DONT THINK AMC REPRESENTATIVES WILL BE THAT KEEN TO SOLVE THE PROBLEM IMMEDIATELY(MOST OF THEM CAN BE SOLVED WITHIN A WEEK)....AS THEY THEMSELVES ARE WEAK AT THEIR WILLINGNESS


Name : APOORVA	City : Mumbai
ARN NO : soft Investments	Date : 04 Jul 2014
Comments :
Jignesh, u have rightly highlighted some of the very basic issues facing the investors as well as the distributors. I still dont understand the meaning/necessity of Self Declaration Certificate to be submitted by each distributor every year when everbody is regulated at every point. FMPs are given free hand for all the AMCs to keep their AUM at a healthy level (on paper at least). When the Equity market is sluggish, FMPs flourish. Non performing schemes of all the AMCs should be thoroughly scrutinized by the concerned authorities and corrective measures should be implemented in order to give relief to the investors as their hundreds of crores have been stuck up without any positive returns. The biggest concern for the Distributors is AMFI is just helpless for the Distributor Community. Jignesh, thanks very much raising the issues concerning the MF industry.


Name : Binutha RAj	City : Mumbai
ARN NO : 73171	Date : 04 Jul 2014
Comments :
Excellent synopsis. Mr. Jignesh. I just want to add one point which is of significance. The SEBI and AMCs decision to implement the direct and regular NAVs has added to the woes. If you make a clients investment under direct schemes, then accessing the clients investment for any further reallocation or client servicing becomes impossible as AMCs are not ready to give us the information on these investments which primarily are done on our advise thus defeating the cause of the advisory services offered by us.


Name : Vipul Jain	City : Indore
ARN NO : 5358	Date : 04 Jul 2014
Comments :
It is the only Industry, where Manufacturer and Distributor/ Advisor are competitors. Imagine allowing Medical Representative to prescribe medicines to Patients and spending time and energy on wellbeing of society.


Name : MILIND CHITNIS	City : Mumbai
ARN NO : ARN-1837	Date : 04 Jul 2014
Comments :
Very very apt article and response from IFAs shows how close to heart these issues are. However the response to these issues from AMCs until now has been extremely poor. Even simplest thing like common application from is yet to be implemented. MF Utilty is in pipe line for literally years now & we do not know if and when this is going to be operational. Every time fund RMs visit you, these issues should be raised before any discussion on fund performance and market outlook.


Name : DB DESAI	City : KUDAL
ARN NO : ARN0234	Date : 04 Jul 2014
Comments :
These are are very valid arguments and the issues raised need urgent attention. Those who talk about reach, penetration, growth, inclusion should concentrate on keeping their houses in order so that they can accomplish what is in their hands and expect the distributors to confidently do their work and bring more investors to the industry. AMCs are very keen on distributing "GYAN" to the distributors but it is surprising why they themselves can not do these small things? Uniformity in procedures is a must.


Name : PETER PAUL	City : MUMBAI
ARN NO : Total Investments	Date : 04 Jul 2014
Comments :
What harsh allegations?It is u who has to stop sheltering the AMC"S for their --------------- Policies IF YOU WANT TO GROW THE MF INDUSTRY WHICH WE (THE IFA COMMUNITY) SINCERELY SINCERELY DOUBT


Name : alok patel	City : ahmedabad
ARN NO : 81772	Date : 04 Jul 2014
Comments :
Yes this points are very true. In all points first solve the problem of comon aplication form. Suggest to sebis chief officers has to go in the market for one day & sell the mf product for one day. then they will understand the distributors hurdles. I think sebi is not a regulator sebi doing pure business.


Name : Raj Talati - ABM Investment	City : VADODARA
ARN NO : 3535	Date : 04 Jul 2014
Comments :
Jigneshbai, very rightly put up by you. It is high time and AMC should consider it on top priority.


Name : Naveen Rego	City : MANGALORE
ARN NO : 8005	Date : 04 Jul 2014
Comments :
Once a Chartered Accountant friend of mine commented that the MF industry on execution/transactions has gradually become like Postal Department. I did not realsise it then, but looking at the ground reality I believe his statements were very true. MF Utility would be just one extra platform. But at the ground level we need to have standard procedures and forms for all transaction issues. The extra wastage on printing of these forms can be used to reduce the expense ratios. AMCs can still build their brand with distributor/ investor eduaction and media advertisements. However, pls make the procedures common. I hope the higher ups in AMFI and AMCs listening. Else, SEBI should force this as a regulation. Thanks Jignesh Bhai for voicing the industrys frustration.


Name : Charanjit Singh	City : Panchkula
ARN NO : 14510	Date : 04 Jul 2014
Comments :
This is a ground reality. All the above problems are being faced by the investors & IFAs resulting losing investors interest in Mutual Fund investments.


Name : Shabbir Haidermota	City : Pune
ARN NO : ARN-24992	Date : 04 Jul 2014
Comments :
Along with the above mentioned bottlenecks to Investors and Distributors, I would like to list another major issue that is lacking and if provided would surely boost the growth of the Mutual Fund industry in India. Since the past more than 10 years, despite steadily rising inflation the limit under Section 80 C of the Income Tax Act, 1961 for ELSS Mutual Funds has remained Rs.1 lakh when it should have been increased commensurately to at least Rs.3 lakhs if not Rs.5 lakhs. Mr. Finance Minister : Mr. Arun Jaitley now is your chance to increase this limit and encourage retail investor investment through the relatively safer route of MFs in the India Equity Market to offset the dependence on FIIs HOT MONEY making the market so volatile. This could be the best gift to the MF industry in the coming budget on 10th July.


Name : ingle vinayak k	City : Kalyan
ARN NO : 0662	Date : 04 Jul 2014
Comments :
Jignesh Shah has correctly pointed out the deficiencies, if corrective steps are not taken in time, there is no option for IFA but hang up their shoes. Running piller to post and approaching the investor again and again for silly matters irritates every body which results loss to mf industry.


Name : Ajay Gupta	City : dehradun
ARN NO : 24197	Date : 04 Jul 2014
Comments :
Thanks Jignesh for articulating the issues so very well...as you do always.We have all faced these issues at some time or the other and wrung our hands in frustration.It is a pity that such a beautiful and versatile product like a mutual fund has become so cumbersome.I totally agree that the minor to major and change of bank are overly done. Having a common application form and common transaction form would be the least to get started in simplifying the execution part.


Name : Shekhar S	City : Hyderabad
ARN NO : ARN-67560	Date : 04 Jul 2014
Comments :
Thank you Jignesh bhai, for raising the concerns. These are the many reasons why we show lesser interest in promoting MF. The ratio of returns vs services rendered is much lesser than other financial products. And we have only limited time to promote our financial solutions. Often these type of services rendered rat up our valuable time. Hope the regulator makes it mandatory for Single KYC across all financial products, and a common application form for mutual funds. Best wishes.


Name : Cyprian	City : Mumbai
ARN NO : ARN 33281	Date : 04 Jul 2014
Comments :
Mf utility portal will solve most of these problems


Name : SUSHIL AGARWAL	City : RAJKOT
ARN NO : 11312	Date : 04 Jul 2014
Comments :
Thanks Jigneshbhai for giving voice to our problem, but is there leading 10 and Amc who is hearing this and come on this forume to give solution for this problem..... Let us wait.


Name : Kumar	City : Mumbai
ARN NO : 14631	Date : 04 Jul 2014
Comments :
complete and well said....


Name : Prabhakar Shidhaye	City : Pune
ARN NO : ARN-10433	Date : 04 Jul 2014
Comments :
Thanks Jigneshbhai for putting all the points together. All the IFAs know that these are the hurdles and they try to bring up the issues at different platforms. Unfortunately they just get the lip service from AMCs and almost no response from SEBI. We see some IFA associations around but have not seen or heard any of them taking any strong actions like PILs against these ridiculous requirements.


Name : Sudip Dey	City : Kolkata
ARN NO : 58188	Date : 04 Jul 2014
Comments :
Thanks for sharing problems related to the mutual fund. Hope authority will simplify the process.


Name : C.R.KESAVAN	City : BANGALORE
ARN NO : ARN 29561	Date : 04 Jul 2014
Comments :
THANKS A LOT FOR VOICING THE CONCERN. As an IFA, our productive time gets reduced doing all these avoidable exercises. All the points stated above by our esteemed friend is 100% valid. We expect the AMCs and SEBI take note of them.


Name : samit pal	City : baroda
ARN NO : 30213	Date : 04 Jul 2014
Comments :
SEBI, AMFI, AMCs should take note of all points. I feel everybody should Invest in MUTUAL FUND. To educate Investors atleast 1 crore IFAs required. Every AMC SHOULD give stress to recruit distributor. DIRECT plans to be marge to regular plans. One Scheme two plans is the big hurdle for IFAs.

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