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An Easy Introduction
Mutual Fund investments are subject to market risks, read all scheme related
documents carefully.
Please refer to page number 28 for detailed Risk Factors.
Date:- 5th March, 2012
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MUTUAL FUNDS -AN EASY INTRODUCTION1
THERE WAS MUCH EXCITEMENT IN THE KUMAR HOUSEHOLD.
She is still a
kid Akshay!
HOW QUICKLY SHE'S
GROWING UP, DIVYA. WE
HAVEN'T DONE ANYTHING TO
SECURE HER FUTURE.
WHAT ARE YOU
THINKING ABOUT,
AKSHAY?
HMMMMM....
IT'S PREETI'S
BIRTHDAY TODAY !
She was 5 monthsold, when wemoved to this
Place.
An Easy Introduction
She is five Years
old now. Time
Flies.
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MUTUAL FUNDS -AN EASY INTRODUCTION2
ARE THERE ANY OTHER
INVESTMENT OPTIONS
AVAilABLE THAT GIVE
HIGHER RETURNS?
LETS START A LIFE
INSURANCE POLICY IN HER
NAME. THAT WILL GIVE
GUARANTEED RETURNS.
THAT'S JUST NOT
ENOUGH! I'M THINKING OF
INVESTING THE MONEY
SOMEWHERE SO WE GET
BETTER RETURNS FROM
OUR SAVINGS.
SO WHAT DO YOU
SUGGEST?
IT'S IMPORTANT,
DIVYA. WE NEED TO
DO SOMETHING
ABOUT IT NOW !
WE HAVE ALREADY
OPENED A SAVINGS
ACCOUNT IN HER NAME.
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RAHUL AND HIS PARENTS ARE THEIR
NEIGHBOURS AND GOOD FRIENDS.
OKAY. LETSSPEAK TO RAHUL
AND HISPARENTS WHEN
THEY COME OVERFOR DINNER.
TONIGHT.
THAT NIGHTDIVYA TELLS MEYOU WANT TO
START
INVESTING FORPREETI.
MAY BE... BUT WESHOULD AT LEAST
CHECK ALL THEOPTIONS BEFOREINVESTING OUR
MONEY.
BUT WE HAVENT EVEN BEGUNINVESTING!! LETS START
INVESTING AND THEN WE CANEXPERIMENT.
MUTUAL FUNDS -AN EASY INTRODUCTION3
Something likeStocks andShares??
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THAT'S RIGHT,RAJESH UNCLE... ...BUT WE
JUST DON'TKNOW
WHERE TOBEGIN.
BUT ISN'T THAT TOORISKY? I WAS LOOKINGAT SOMETHING MORESECURE FOR PREETI.
BUT WITH GOODRETURNS.
MUTUAL FUNDS, MYDEAR! MUTUAL FUNDS
IS THE ANSWER.
IT IS RATHERCONFUSING. INITIALLY IHAD THE EXPERT ADVICEOF MY FATHER TO GUIDEME. AND STARTED WITH
THE STOCK MARKET.
MUTUAL FUNDS -AN EASY INTRODUCTION4
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A Mutual Fund is a smart investmentscheme wherein a fund house collectsmoney in exchange from investors FORUNITS OF THE FUND AND IN TURN INVESTSTHE MONEY SYSTEMATICALLY IN EITHER
STOCKS OR THE DEBT MARKET ORCOMMODITIES like gold.
SO IS IT LIKE ACHIT FUND!
but is it SAFE TOINVEST IN A MUTUALFUND?
MUTUAL FUNDs?why mutual
funds??
NO, NO, DIVYA! MOST FUND HOUSES AREREPUTED FINANCIAL INSTITUTIONS WITH
QUALIFIED FINANCIAL ANALYSTS ASFUND MANAGERS WHO WILL MANAGE
YOUR SAVINGS.
MUTUAL FUNDS -AN EASY INTRODUCTION5
I believe theyare. I have beeninvesting in them
for ten yearsnow.
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THE NEXT DAY-
PLEASE HAVE ASEAT.
THESE ARE MY FRIENDS,DIVYA AND AKSHAY.MEET parimaan, THE
Investment Expert WESPOKE ABOUT.
MUTUAL FUNDS -AN EASY INTRODUCTION6
CAN WE SEE HIMTOMORROW
itself ?
Hey! I think both ofyou should meet my
friend who is aninvestment expert.
Hell answer all yourquestions.
That soundslike a good
idea.
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THAT'S RIGHT.
PHEW!
OKAY, LET ME SIMPLIFY THAT.
LET US ASSUME YOU WANT TO
SAVE FOR PREETI'S EDUCATION..SAY..TEN YEARS DOWN THE
LINE. ASSUMING HER COLLEGE
FEES IS FOUR LAKH TODAY, IT
COULD WELL DOUBLE.
SO IN TEN
YEARS , HER FEES
COULD BE EIGHT
LAKHS
WOW! SO WHAT
SHOULD WE KEEP
IN MIND WHENWE INVEST?
MUTUAL FUNDS -AN EASY INTRODUCTION7
RAHUL TELLS ME YOU WANT TO
INVEST FOR YOUR DAUGHTER'S FUTURE.
THAT'S RIGHT.
Its good that you have
recognised that you need to
invest. IN FACT IF YOU BREAK
IT DOWN FURTHER FOR HER
EDUCATION OR HER MARRIAGE
IT 'LL BE EASIER FOR US TOMAKE THE RIGHT INVESTMENT
CHOICES.
But if you start investing
some amount every month
in a mutual fund, you can
easily meet that expense in
a few years time
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FIXED
DEPOSITS
FIXED
DEPOSITS
N.S.C
YES ! IT ALL DEPENDSON WHAT KIND OFRISK YOU LIKE TO
TAKE ON YOURINVESTMENTS.
INVESTMENT PHILOSOPHY
AND REMEMBER,NEVER PUT ALL YOUR
EGGS IN ONEBASKET...
HIGH RISK - HIGH RETURNS MEDIUM RISK - MEDIUMRETURNS
PPF
LOW RISK - LOWRETURNS
ONCE YOU KNOW YOUR INVESTMENT PHILOSoPHY, Theninvest in those areas which reflects your philosophy.
MUTUAL FUNDS -AN EASY INTRODUCTION8
THE KIND OF RISKYOU LIKE TO TAKEWHILE INVESTINGDETERMINES YOUR
INVESTMENTPHILOSoPHY.
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HMM...SO WHERE DOMUTUAL FUNDS COMEINTO THE PICTURE?
AH !
IS THISMAKINGSENSE?
Mutual funds are versatileinvestment instruments,
which can suit yourinvestment objectives, butwhile investing you need to
recognise the inherent riskinvolved in them.
MUTUAL FUNDS -AN EASY INTRODUCTION9
YOU NEED TO PUT YOURMONEY IN STOCKS,
BONDS, GOLD,PROPERTY ETC. IN LINEWITH your INVESTMENT
PHILOSPHY.
As an investor in mutual fundsyou need to recognise, which
category of mutual funds bestsuits your need - be it regularincome, capital appreciation or
safety of principal.
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TYPES OF MUTUAL FUNDS BASED ON CATEGORY
These funds attemptto maintain a balancebetween fixedincome securities and
equities in apredetermined ratio;
for example65 (equity):35 (debt).
DEBT FUNDS EQUITY FUNDS
The investment focus
here is on stocks andshares and the fundsaim to grow money
over a longperiod of time
(capital appreciation).
BALANCED FUND
MUTUAL FUNDS -AN EASY INTRODUCTION10
These funds invest infixed incomesecurities like
debentures & bonds,and aim to preservecapital but need notnecessarily provide a
regular source ofincome to the investor.
Equity fundsprovide higher
returns, but
expose you tohigher risk as well,
as compared to
balanced funds
and debt funds.
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SO WITH MY
OBJECTIVES IN MIND,
I SHOULD PROBABLY
CHOOSE AN EQUITY
FUND, RIGHT?
BUT TELL ME, CAN'T I
JUST INVEST IN
STOCKS MYSELF?
...STOCK PRICES RISE AND
CRASH. THEY NEED TO BE
MONITORED ALL THE TIME.
WHICH MEANS FOR
AROUND TEN YEARs, YOU
SHOULD INVEST
REGULARLY AND WATCH
YOUR MONEY GROW.
OF COURSE YOU
COULD. BUT STOCK
MARKETS ARE VERY
VOLATILE.
MUTUAL FUNDS -AN EASY INTRODUCTION11
RIGHT! investment that
focus on Stocks HAVE
OUTPERFORMED OTHER
ASSETS LIKE FIXED DEPOSIT,
REAL ESTATE, GOLD. ETC
OVER THE LONG TERM.
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WHEN YOU INVEST
IN A MUTUAL
FUND....
STOCK ABC STOCK XYZ
STOCK FMG
STOCK
BEST BUY
STOCK
DOING WELL
THIS FUND
MANAGER HASTO BE VERY
GOOD.
ABSOLUTELY!
.... THERE IS A QUALIFIED and EXPERIENCED FUND MANAGER
TO MANAGE YOUR MONEY....
Who invests in well researched and
diversified stock portfolio.
THERE WILL BE A LARGE NUMBER OF STOCKS SO THAT YOU CAN BENEFIT FROM
DIVERSIFICATION.
MUTUAL FUNDS -AN EASY INTRODUCTION12
FUNDSPORTFOLIO
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It is important to
read and
understand the
investment
objectives very
carefully, before
investing in any
fund.
HERE TOO THE FUND
OBJECTIVES MUST BE IN
LINE WITH OURS; AM I
RIGHT?
and That correct!
YOU ARE HALF-WAY TO
BECOMING AN EXPERT
ALREADY!
WHAT SHOULD A FUNDS OBJECTIVE REVEAL?
MUTUAL FUNDS -AN EASY INTRODUCTION13
JUST LIKE YOU HAVE INVESTMENT
OBJECTIVES, EVERY MUTUAL FUND
TOO HAS A DISTINCT INVESTMENT
OBJECTIVE.
THE KIND OF INVESTMENTS THE FUND WILL MAKE.
THE FUND MANAGER'S AREA OF OPERATION.
WHAT KIND OF RETURNS AN INVESTOR CAN EXPECT?
A CLEARLY DEFINED OBJECTIVE SHOWS THE FUNDS
COMMITMENT ON ITS PART.
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NOW THAT WE'VE UNDERSTOOD OUR
INVESTMENT PHILOSOPHY AND INVESTMENT
OBJECTIVE, CAN WE START WITH A FUND
SUITED TO OUR NEEDS?
SURE!
BUT FIRST
YOU SELECT THE FUND
HOUSE WHICH IS ALSO
CALLED THE ASSET
MANAGEMENT
COMPANY (AMC).
CAN'T WE JUST SELECT
THE MUTUAL FUND?
WELL, IT IS LIKE THISIF YOU WERE CHOOSING A
GROOM FOR YOUR DAUGHTER, YOU WOULD FIRST
CHECK THE CREDENTIALS OF THE FAMILY BEFORE
GETTING THE GROOM TO MEET HER, WOULDN'T YOU?
MUTUAL FUNDS -AN EASY INTRODUCTION14
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MUTUAL FUNDS -AN EASY INTRODUCTION15
THIS PUTS IT IN PERSPECTIVE!
FUND HOUSE CHECKLIST
Background: Who are the fund
sponsors? How reputed are they? Overall Performance ofthe fund house.
Track Record: Check the
performance of the other
mutual funds from the same
fund house especially those
managed by the same fund
manager who's looking after
the one you are interested in.
sponsors
sponsors
SELECTING A FUND HOUSE
IS LIKE SELECTING A
FAMILY. IT HAS TO BE
CHOSEN WITH CARE .
CHECK THE FOLLOWING
WHEN YOU REVIEW AFUND HOUSE.
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NOW WE CAN CHOOSE THE
GROOMOOPS, I MEANT
THE FUND!
IT IS ALMOST AS RIGOROUS AS
CHOOSING A GROOM!
INVESTING IS SERIOUS
BUSINESS: AFTER ALL IT IS YOUR
HARD-EARNED MONEY! You
should take time to research
and analyse before investing.
COMING BACK TO THE RIGHT
mutual fundYOU HAVE
WON HALF THE BATTLE BY
IDENTIFYING THE RIGHT
FUND HOUSE, NOW YOU
NEED TO CHECK WHICH OF
ITS funds MATCHES YOUR
OBJECTIVES.
I'M GLAD YOU LOOK AT IT
THAT WAY , AKSHAY. MANY
PEOPLE TAKE SHORT CUTS
BY TAKING TIPS FROM HERE
AND THERE BUT THAT COULD
PROVE EXPENSIVE, AS ONLY
YOU KNOW WHAT YOU NEED.
Each investment demands a
unique approach and
mindset. There are different
schemes catering to
different objectives and
the investor must select
the fund which meets his
objective.
MUTUAL FUNDS -AN EASY INTRODUCTION16
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INVESTMENT
OBJECTIVE
Short term investing
Capital appreciation
Regular income
Tax saving
INVESTMENT
HORIZON
1-6 months
Over 3 years
Flexible
3 year lock-in
IDEAL
INSTRUMENT
Liquid/short-term plans
DiversifiedEquity/Balanced funds
Monthly incomeplans/Income funds
Equity Linked SavingsSchemes (ELSS)
ALSO. THEN YOU NEED TO CHECK IF
Capital Appreciation
Regular Income Monthly income plan has declareddividends consistently every month.
.AND SO ON
IF YOUR OBJECTIVE IS
There is a term / concept known as the
Net Asset Value (NAV) which is a factor
of the market price of funds assets
and the number of units issued.
MUTUAL FUNDS -AN EASY INTRODUCTION17
The diversified equity fund has postedcapital appreciation over the last 3 yearsafter considering the level of riskundertaken.
SO HOW DO I
BUY MUTUAL
FUNDS?
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You can see that the funds with the lowestas
well as highest NAVs have shown maximum
growth. Therefore it is only the fund, theportfolio and the style of management that
should be the deciding factors for buying a
fund and not the NAV.
Similarly, when fund houses launch NFOs at
Rs 10 NAV, it does not mean that it is a cheaper buy.
FUND X's NAV
Date Asset Value No. of Units NAV
20 Dec 2010 50,000 5,000 10
20 April 2011 60,000 5,000 12
As the value of the assets (equities owned by the fund) goes up, the NAVincreases and vice-versa. NAVs are often compared to share prices but thiscomparison is fundamentally flawed. Here is how:
Stocks have a book value which depends on the net worth and number of stocksissued. When a stock price rises, it does so due to market sentiment andexpectations. Therefore as soon as stock prices rise, the book value is divorced
from the market value.
An NAV is the value of a mutual fund's assets after adjusting fund managementexpenses, marketing expenses, etc. Thus, a higher NAV does not indicate whether a
fund is expensive; nor does it indicate that it is cheap. It is merely the fair value ofa mutual fund.
Hence, while selecting a fund, the NAV shouldnt be the only criteria.
NAV GROWTH
Schemes NAVs On Growth
Apr 01, 2010 Dec 01, 2010Invest Well Equity Fund.Secure Growth Cap FundGrow Capital Equity FundBlake Sempleton GrowthFund M 40 ( G)
23.557.4419.8621.7012.12
38.9712.0430.2331.5716.56
65.5%61.8%52.2%
45.5%36.9%
MUTUAL FUNDS -AN EASY INTRODUCTION18
Let me illustrate
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WHAT DO WE NEED TO
CHECK ABOUT THE
STOCK PORTFOLIO?
You invest in equity funds
to derive the benefits of
diversification. Thus you
need to ensure that the
fund manager is doing
that.
MUTUAL FUNDS -AN EASY INTRODUCTION19
FUND ASSETS NEED TO BE INVESTED IN DIFFERENT SECTORS. MANY TIMES 20-25%
ASSETS ARE INVESTED IN A SINGLE SECTOR STOCK. THIS IS NOT A TRULY DIVERSIFIED
PORTFOLIO.
In another extreme, the fund might have invested in as many as 100 stocks! This
again is not diversification, it is fragmentation.
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I..ER..I'M SORRY! WHERE
WERE WE?Thats fine! I think
youve had an
information overload.
LET'S GO HAVE SOME
TEA. THAT'LL
REFRESH ALL OF US.
BRILLIANT
IDEA!
MUTUAL FUNDS -AN EASY INTRODUCTION20
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I AM NEVER GOING TO BE ABLE
TO REMEMBER SO MUCH DATA!
HOW DO YOU MANAGE?
BUT I'M SURE READING
UP WILL HELP.
DEFINITELY. PICK UP ARTICLEs
RELATEd TO MUTUAL FUNDS AND READ
THROUGH. YOU MAY FIND THE TERMS
UNFAMILIAR at first BUT SOON
YOU'LL BEGIN understanding THEMVERY WELL AND EVEN CONVERSE
KNOWLEDGEABLY ABOUT THEM.
THAT'S NOT entirely
TRUE!
MUTUAL FUNDS -AN EASY INTRODUCTION 21
AND ALL HE EVERREADS about IS
FINANCE!
I have been in this field
for years now; so
experience does matter!
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IT WOULD BE GREAT, IFSOMEONE ELSE COULDMANAGE THE SAME FOR
ME.
THAT'LL BE SOMUCH SIMPLER.
he CAN HELP YOU WITHALL THE DATA AND
GIVE GOOD ADVICE ONTHE SAME.
THERE'S A SOLUTION FORTHAT TOO. THAT'S WHERE HE,THE INVESTMENT ADVISOR,
COMEs IN.
MUTUAL FUNDS -AN EASY INTRODUCTION22
IT WOULD BE GSOMEONE ELSMANAGE THE S
ME.
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MUTUAL FUNDS -AN EASY INTRODUCTION 23
IS YOUR INVESTMENT ADVISOR QUALIFIED?NISM accredits individuals who are successful in the
qualifying examination as NISM registered mutual fundadvisors.
WILL HE PROVIDE INVESTMENT SOLUTIONS?Providing investment solutions is completely different
from selling investment products. He should offer you theentire range of products from mutual funds to bonds to
insurance. He should be able to construct a customisedportfolio for you based on your needs and risk profile.
DOES HE PROVIDE VALUE-ADDED SERVICES?Investments need to be tracked and monitored on a
regular basis as you have just seen. Yourinvestment advisor should have the necessary
infrastructure for such tracking and calculationsand he should advise you on managing your
investments according to market conditions.
DOES HE PROVIDE OBJECTIVE ADVICE?It is important that an investment advisor put yourinterest before his. His brokerage or commissions
should never be the driving factor to make him pushyou into any investment.
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TEA FOR
EVERYBODY?
YES!
Before you decide to
consult an investment
advisor, you should also
learn about investing
directly in to a mutual
fund.
MUTUAL FUNDS -AN EASY INTRODUCTION24
Direct Investing?
What do you mean?
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MUTUAL FUNDS -AN EASY INTRODUCTION25
Let me explain this to
you. One point at a
time.
When you consult an Investment Advisor thereare certain points you should be aware of, for
instance, an Investment Advisor will chargeyou a consultation fee. Of course, since he is
offering you a service, you will need to pay hima fee for his services. Nothing wrong with that!However, he should be completely transparent
with regards to the fee that he earns. This is toensure that you know WHY your advisor isselling you a fund- because it suits your
investment needs OR just because he is gettinga higher commission from the AMC.
And, what about thedirect model ofinvesting? How
does that work?
Oh! Thats animportant point to
remember.
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MUTUAL FUNDS -AN EASY INTRODUCTION26
Yes, I was just coming tothat. Through the directinvesting model, you can
approach an AssetManagement Company
directly.
Walk into the AMC towhich you want to
entrust your savingsand talk to their
Relationship Managers.
Your RelationshipManager will help you
with the completeinvestment processand will be your one
point of contact for anyquery you have on
investing goingahead. Simple, isnt it?
Hmmm Quantum MutualFund. What makes them
different from theIndustry?
The direct model sounds
interesting. Is there anyAMC that exclusively
offers this platform?
Yes, there is an AMC whichis Indias 1st and only
direct to investor mutualfund - Quantum Asset
Management Company PvtLtd.
Now, that issomething I will
be glad toexplain to you.
One AMC also offers you a complete online
paperless investment process. This is aconvenient and environmentally friendlyapproach towards investing. Paperlesstransactions save paper. save trees!
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MUTUAL FUNDS -AN EASY INTRODUCTION 27
With this ideology in mind, Quantum Mutual Fund was established as Indias 1st and onlydirect-to-investor mutual fund.
Quantum Mutual Fund started its journey in 2006, and opted to walk a
road different from the rest. With the investor as their primary focus,
and the investors benefit as their only priority, Quantum Mutual Fund
reused to adhere to the commission paying style of promoting its
funds. Quantum does not want their funds to be sold to investors; they
rather have them buy into their products. The non-commission stance
was not because they had anything against distributors; but the
opposition was to the opaque practices of distribution.
No Star Fund Manager: Quantum Mutual Fund believes in a team approach.They follow a process for selecting or avoiding stocks, and as such the conceptof Star Fund Managers does not appeal to them. Their fund managers work
along with their research team to ensure that come what may your portfolio isnever compromised.
Low Cost: The chief benefit of investing with a direct-to-investormutual fund is lowered costs since you, as an investor, save ondistribution expenses. They have also added to your costsavings by endeavoring to offer you one of the lowest expenseratios in the industry. They are a low cost fund that works toadd value to your investments.
Long Term Approach: Quantum believes that investing is actually aboutwatching your hard earned savings grow into wealth over the long term.Their research methodology and investment approach reflect this longterm vision in practice.
Simple Products: Quantum doesnt understand the New Fund Offerfrenzy; that is the reason why they have launched only 7 basic funds tilldate. Their product portfolio aims to help you spread your investmentsacross asset classes, viz Equity, Debt and Gold. Sectoral and Thematicfunds make very little sense to them, and as such they have stayed awayfrom launching such products.
Disciplined Process: They believe in a disciplined investment process and
buy into companies with respected managements and high corporateethics.Transparency in Functioning: Quantum Mutual Fund is built on the trustof their investors. And hence, they work towards retaining this faith byensuring transparency in their communication and workings with theirinvestors.
QUANTUM MUTUAL FUND IS DIRECTED BY A SET OF VALUES THATTHEY TREASURE AS THE QUANTUM PHILOSOPHY.
REACH QUANTUM AT
1800 209 38639243 223 863
SMS PARIMAAN TO
1800 209 3863
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So, you see the choice is all yours-
either choose to invest directly or
select an advisor who gives you
unbiased and honest advice.
However, always remember to make
your decision based on your
financial needs and appetite for
risk. After all, selecting a fundmanager is like selecting a spouse.
Yes, and we surelywant an ideal
match!
ha...ha...well said!
Risk Factors:All Mutual Funds and securities investments are subject to market risks and there can be no assurance
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
that the schemes objective will be achieved and the NAV of the scheme may go up or down depending upon the
rate of return. Investment in mutual fund units involves investment risks such as trading volumes, settlement risk, liquidity
risk, default risk including possible loss of capital.Past performance of the Sponsor / AMC/ Mutual Fund does not indicate the
future performance of the Scheme. Statutory Details: Quantum Mutual Fund (the Fund) has been constituted as a Trust
under the Indian Trusts Act, 1882. Sponsor: Quantum Advisors Private Limited. (liability of Sponsor limited to Rs. 1,00,000/-)
Trustee: Quantum Trustee Company Private Limited Investment Manager: Quantum Asset Management Company Private
Limited (AMC). The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act, 1956.
The views expressed here in this booklet constitute only the opinions and do not constitute any guidelines or
recommendation on any course of action to be followed by the reader. The data / information / opinions are meant for
general reading purposes only and are not meant to serve as a professional guide / investment advice for the readers. This
booklet has been prepared on the basis of publicly available information, internally developed data and other sources
care has been taken to endeavor that the facts are accurate and opinions given are fair and reasonable as on date. The data
units of the mutual fund. Readers are advised to seek independent professional advice and arrive at an informed investment
decision before making any investments. Neither of The Sponsor, nor The Investment Manager, nor The Trustee, nor their
information / opinions contained in this booklet.
STATUORY DETAILS, DISCLAIMERS AND RISK FACTORS:
MUTUAL FUNDS -AN EASY INTRODUCTION28
"This comic guide is authored by PersonalFN, a service brand of Quantum Information Services Pvt. Ltd., which has over 10 years
of expertise in researching Mutual Funds and also provides unbiased views on Mutual funds, Insurance, Gold and Fixed Income
instruments in India. PersonalFN has also been powering research services or Quantum Equity Fund of Funds, a product of
Quantum Mutual Fund."
Date:- 5th March, 2012