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00:00Now, Mutual Fund
00:15Mutual Fund and
00:28we will just discuss the briefing first of all.
00:35Right.
00:38If A, B, C, D
00:45in all the company is shared.
00:49The A company would have shared price,
00:53price at the 0th period or first year,
00:56first period, first day,
00:58100, D 50, C 200,
01:03D 150, D 150.
01:09D 150,
01:11A,
01:14A,
01:16A,
01:17A,
01:19A,
01:21A,
01:22A,
01:23A,
01:25A,
01:27A,
01:28A,
01:29He can invest in A and B, not possibly to invest in C and D, because it is not possible to invest in C and D, because it is not possible to invest in C and D, but the price will shoot up, it is a surprise for him also, right, so the price will be increasing suddenly for C and D, it is not possible to invest in C and D,
01:57if you want to invest in C and D, the mutual fund concept emerges out, as per the mutual fund, it is all the investment, 500 rupees is not, it is over share price, it is all over share value 500 rupees is not, they are dividing this by,
02:2010 rupees is only value divided by 10, so 500 rupees divided by 10,
02:28in the 500, you know, 50 units is not, 50 units is not, 50 units and price of the unit being 10, share value is not, 10 is not, it is called NAV,
02:46one company shares shares, number of shares, number of shares, number of shares, share value is not, number of shares, number of units is not, price is not, NAV is not, net asset value,
03:00now, X can purchase 10 units, 10 units, investment available divided by NAV, 10 units,
03:22so it is nothing but investment made in all the shares, so mutual fund, we are collecting the money, that money is invested in the shares, any returns comes in the shares,
03:41is again distributed to them, after withholding some charges for the services, this is logic, one week later, one week later, one week later, for example, P7, 7th data niki,
03:55in the 100 niki, it becomes 120, 50 aarukaradhu, 20 aarukaradhu, 200 aarukaradhu, 160 aarukaradhu, 150 aarukaradhu 200 aarukaradhu, 300 aarukaradhu, 300 aarukaradhu,
04:12now, what is the mutual fund value today, this is fund value, what is the fund value, you add up all this value, you all share and share,
04:22you have 600 rupees, what is the number of units, number of units being the same, 50 aarukaradhu,
04:39100 aarukaradhu, 50 aarukaradhu, value or share which is why they have 15 per aarukaradhu,
04:50€12 aarukaradhu, X 10 unit wanguntat alhiya, there are only 10 unit, but you become 100 per aarukaradhu,
04:56100 per aarupadhu, 100 per aarukaradhu, 100 per aarukaradhu, 120 per aarukaradhu,
05:03This is called mutual fund. So, if you have 10 units, you can have 10 units.
05:10You can have 10 units. You can have 10 units. You can have 10 units.
05:28If you have 10 units, you can have 10 units.
05:37If you have 10 units, that value will be given to you at the time of exit.
05:43Exit. Exit. Exit. Exit.
05:47Exit. Exit. Exit.
05:50Suppose, SAP's systematic investment plan. Systematic investment plan.
05:59You thought to invest 100 rupees every time.
06:03Every month. First month, 100 rupees invest. You will get 10 units.
06:05First month, 100 rupees invest. You will get 10 units.
06:14You will get 10 units.
06:16You will get 100 rupees.
06:18You will get 100 rupees.
06:19You will get 100 rupees.
06:21You will get 100 rupees.
06:23How many units are?
06:25How many units are?
06:27So, 100 divided by 12.
06:29You will get 8.33.
06:32future funds.
06:33After total, 18.33.
06:34After total, 18.33.
06:35After total, 18.33.
06:36After total, 18.33.
06:37After total, price of the third month.
06:39A. 200.
06:40B. 50.
06:41C. 200.
06:42D. 200.
06:43Okay.
06:44Now, at the point, a is 1.
06:452.
06:46and O.
06:47a, 200.
06:48b, 50.
06:49c, 200.
06:50b, 200.
06:52Okay.
06:54Southuvan.
06:55Southuvan.
06:56Union?
06:57of.
06:58Utah is for total.
06:59Ibarra, food.
07:00Ibarra, food.
07:01해 **** would be mengenoyant.
07:02We will be the same for total.
07:03Later, It turns out.
07:04The plus 可以 crushing overorder.
07:05In the show,
07:06In the show,
07:07it is a dimensional standard and surprising.
07:08clear In the show,
07:11Here we have the yen investment in these days.
07:14If they invest in these days,
07:15it's 7.69.
07:23If you add this,
07:25the yen will be 18.33.
07:28Let's see how this is 26.02 units.
07:33And P4 is 4th year.
07:36A would have value 200, B would have value 100, C would have value 250, B would have value 250.
07:44If you want to invest in 500, 700, 800 rupees, you want to withdraw on,
08:03you will be getting 416 rupees, you will be getting.
08:16Year on year, you invest 0, 1, 2, 3, 4.
08:22First year, 100 rupees, second year, 100 rupees, third year, 100 rupees.
08:27If you want to invest in 416, this is the outflow, this is the inflow.
08:33If you want to invest in 3, 4, 5, 6, 116 rupees is your revenue.
08:39This is the cumulative interest formula.
08:43You have to pay for 50,000 rupees, some of these are the benefits of mutual funds.
08:49Clear?
08:50Hope you could understand.
08:52You have no need to copy this, it is only for the understanding points, right?
08:57So, mutual funder on the sponsor, trustee, asset management company, custodian, registrar
09:06and transfer agents involving, sponsor on the mutual funder, n number of mutual funds
09:12are there.
09:13If you company, company require n number of mutual funds are there, that is ICIC bank
09:17on the different varieties of mutual funders ready for the company, ICIC bank is the sponsor.
09:23If you have a funder ready for the company, it will be a trustee, trustee appointed by the
09:32sponsor.
09:33Fund management is the expertise knowledge, financial management.
09:37That trustees will be the asset management companies to operate the mutual fund.
09:42That funder will be the owner of the company.
09:45Custodian is the back office operations, that is handled by custodians.
09:50That was mutual funder, delivery grouper, this is the end of the company.
09:57Registrar and transfer agents on the issue.
09:59So, these are the persons are there.
10:01Mutual funds are there.
10:02Mutual funds would be variety, you can get the amount, investors could get the amount,
10:08what amount, A, B, C, D. And the company would share the investment.
10:13Share the investment.
10:14Share the investment of the company, bond the investment of the company.
10:16Dependsure the issue, preference shares the issue, T bond the investment of the company.
10:20So, that's how asset management companies collect the investment of the company,
10:40where within one year you can end cash in a way that will be cash investment in so long.
10:53Is that okay?
10:54You don't understand?
10:55Where is the investment?
10:56Where is the investment?
10:58It is a scheme of pay.
11:01Classifications of mutual funds based on the asset mix.
11:11And mutual funds you can go to the investment.
11:17So, where is the investment?
11:19What is the investment?
11:20It, power sector, PUC, healthcare.
11:24All companies share diversified equity schemes.
11:28That means, Sensex is a company to invest.
11:33Invest only basket of equity shares.
11:38That comprises given market index.
11:41Nifty.
11:42Nifty shares are both.
11:44Nifty.
11:45Okay.
11:46Nifty.
11:47Nifty.
11:48Nifty.
11:49Nifty.
11:50Nifty.
11:51Nifty.
11:52Jnior.
11:53Pharma.
11:54Pharma.
11:55Pharma.
11:56Pharma.
11:57compute.
11:58sectoral schemes, power sectoral investment, tax planning scheme, equally linked savings schemes, arbitrage scheme, so these are the schemes we have.
12:11Debt schemes in which we have share, debtless investment, guilt scheme, government bond investment, guilt schemes in which we have.
12:26Mixed debt fund up in which we have government fund, corporate fund, share to you. Floating rate scheme in which we invest in the floating rate debt, cash schemes, only money market, fixed maturity plan in which we invest.
12:41Hybrid scheme in which we have debt, equity, debt, variable asset allocation in which we have to understand that.
12:52Scheme is easy to decide. Now, general classification is open ended and closed ended.
13:07Open ended and closed ended. It is general classification.
13:13All funds are open ended and closed ended.
13:19What is open? If you put a mutual fund, if you want to withdraw, end cash, immediately you have to earn it.
13:29If you have to earn it, it is closed ended.
13:32Hope you understand.
13:33One five years lock-in period.
13:35It is a lock-in period.
13:36It is a lock-in period.
13:37It is a lock-in period.
13:38Closed ended.
13:39Open ended.
13:40Open ended.
13:41If you remain invested.
13:42Open ended to get you to invest.
13:45If you invest in your company, you will pay for a 3-2-2-3-4, you have to earn it.
13:48You will pay for a while.
13:51That is open ended.
13:52Period of subscription, any time.
13:54Closed ended only limited period.
13:56Within a fund allowed, yet you will pay for a while.
13:59Maturity period.
14:01What is natural?
14:02So, if you have a maturity period of time, there are features that are available in the secondary market, open ended. Remember, rare. Okay. Closed ended listing.
14:13Why do you want to do this? Atleast listing is available. So, listing is possible.
14:19In this case, listing is not available.
14:22The mutual funds, we have to go in the end of the month. If you have to go in the end of the month, close ended, I will go in the end of the month, and then you will go in the end of the month.
14:34The National Stock Exchanger will list. That will go in the end of the month.
14:39Closed ended scheme usually the secondary market trade, open ended.
14:44Then, fund off fund scheme.
14:49fund in the investment, you can invest in share in the investment.
14:52That is the mutual fund scheme.
14:55That is the fund of fund scheme.
14:58Exchange Trader Fund is ETF.
15:02It is famous.
15:04A hybrid of closed ended index fund and open ended index fund.
15:09This is the NIFT ratio.
15:13NIFT ratio will be ETF.
15:16That will be freely tradable.
15:19NIFT in Sunar 50 company would share price then.
15:22And the 50 company said,
15:24that is the exchange Trader Fund.
15:27Is that okay?
15:29That is the logic here.
15:34Okay.
15:42Now,
15:46write short note on expenses of mutual fund.
15:58Write short note on expenses of mutual fund.
16:01If you want to invest in the investment,
16:04that is the initial expenses.
16:06If you invest in a month,
16:08you will be administered by the fund.
16:10That is the recurring expenses.
16:12Okay.
16:13That is the investment management and advisory fees.
16:16So, these are the expenses we have.
16:18Right.
16:19That is all.
16:20That is all.
16:21That is all.
16:22That is all.
16:23That is theory.
16:24That is all.
16:25Now.
16:26One more point.
16:27Now.
16:28One more point.
16:29One more point.
16:30One more point.
16:31One more point.
16:32It is the total expenses.
16:33One mutual fund company.
16:34One more point.
16:35One more point.
16:36One more point.
16:37One more point.
16:38One more point.
16:39Each bank
16:55If you have use of your landlord,
16:56you'll be able to cowüş underestimate your influencer increase.
16:59If you want to recover from the front end or entry load, I will tell you about the front end or entry load.
17:06Front end or entry load. Front end or entry load.
17:11Front end load, one mutual fund is 10.
17:15I will tell you about the example.
17:18If you have 100 investment, NIV is 10,
17:22you have 9.8 mutual funds and units.
17:35If you have 100 investment, you will have 9.8 mutual funds and units.
17:41Do you understand the logic?
17:43That is the front end or sales, both load fixed.
17:49Expenses is a commission.
17:52Okay.
17:54See, this is a recommendation.
17:57Why are we asking questions?
18:00That may be keeping on changing as per the recommendations of the board.
18:04It is a recommendation.
18:05Mutual fund and feel.
18:07It can be a mutual fund agent.
18:11So, that may be insurance company IRDA.
18:15That may be AMP fee.
18:16Association of mutual funds of India.
18:18That may be an exam.
18:20So, they will fix up now and then the investment management advisory fee.
18:24Deferred loan month of month.
18:27One amount of charge.
18:29Over the specified period is called deferred loan.
18:32Even we have the exit loan also.
18:36We will be the same as per the loan.
18:38We will charge you.
18:39Okay.
18:40See.
18:41We will charge you.
18:42We will charge you.
18:43Backend.
18:45Backend or exit load.
18:50Otherwise redemption loads.
18:52These are the load of the.
18:53Clear.
18:54Anyhow, practical problems in which we can see.
18:58What are the things you have to study, in this chapter, Problem Types, Folding Period Return
19:17Entry Load or Exit Load , NAV Calplication .
19:27One Mutual Fund is not a performance measure, it is not a performance measure,
19:32it is not a performance measure, it is not a performance measure,
19:40William Short Ratio, Freinar Ratio, Jensen's Alpha Ratio, Morning Star Index, FEMANET Selectivity.
19:48So these are the 5 measures are there.
19:51One Mutual Fund Scheme is not a performance,
19:56current ratio is 2, liquidity position is stronger,
20:02it is less than a .25% than a customer,
20:03the 0.25% which is a customer .
20:08So the Rebuilder has a offer,
20:10if the mutual fund is not a performance measure,
20:13it is not an average of a performance measure,
20:14this is RISG – it will be a product measure,
20:18we will do that for the demand.
20:20So there is a rate in the jointed company for thebuilding fund.
20:24The MUTU is not a performance measure,
20:26perform part of the country in the country, we have measured. William Shaw, Trinor Ratio, Jensen Alpha, Morning Star Index and Fema Net Selectivity.
20:38And apart from that, rupee weighted rate of return, time weighted rate of return. Rate of return, what is the rate of return?
20:48So, these are the practical problems type we have. Right. So, that is first, what we are doing? Returns can be bigger in the concept of it. One after one, we are looking at it.
21:10Let us start with this question number one. Let us see.
21:22These are the practical problems you can expect in your examination. Is that okay?
21:32Let us start with this.
21:44A mutual fund that had a net asset value of 10 at the beginning of a month and made income and capital gain distribution 0.05, 0.04.
21:56And then you end the month with a net asset value of 10.03.
22:06share dividend revenue income and the share day price are the income capital gain.
22:13And then end the month with the net asset value of 10.03.
22:22Upon you 10 rupees point on that in the NAV value 10.03.
22:29You get 0.12 excess for your 10 rupees investment.
22:49If you say percentage, it is 1.2 per month.
22:57If you say 12, it is 14.4 percentage per annum.
23:03If you say cumulative to the power 1.2 okay cumulative to the power n that is how you had to do is that okay.
23:22If you say cumulative to the data annualized straight line.
23:58Mr. Arun on 1.7 2018 during the initial offer of some mutual fund invested 10,000 units having face value of 15 each.
24:12So, 1.7 2018 under the initial offer of 10,000 units.
24:23On 31.03 2019, the dividend operated by mutual fund was 10 percentage.
24:31Okay.
24:32Okay.
24:33And Mr. Arun found that his annualized yield was 153.33 percentage in the data line.
24:45On 31.0319.
24:46On 31.0319.
24:47The annualized return was 153.33 percentage in the data line.
24:52Okay.
24:53In the data line.
24:54In the data line.
24:55In the data line.
24:56In the data line.
24:57In the data line.
24:5831.0319.
24:59In the key.
25:00Your annualized return is 153.33 percentage in the data line.
25:02Okay.
25:03Okay.
25:04Clear.
25:05Dividend operated.
25:06The dividend operated.
25:07The dividend operated by the mutual fund was 10 percentage.
25:20On 31.0320.
25:21On 31.0320.
25:22On 31.0320.
25:23On 31.0320.
25:24On 31.0321.
25:25On 31.0321.
25:26Arun redeemed all his balances for 11,200.
25:2711,200.
25:2811,200.
25:2911,000.
25:3011,0092.
25:32Okay.
25:33Now, 20% dividend.
25:35The dividend was given.
25:3620% dividend was given.
25:38It was 10% dividend.
25:39So, the dividend was given.
25:41On 31.0320.
25:43On 31.0321.
25:44Arun redeemed all his balances for 11,296.11 units.
25:5411,296.11 unit. When is annualized yield being 73.52 percentage? Okay. In the date level,
26:09our annualized yield is 73.52 percentage. What are the NAVs on these days? Over more
26:18time NAV. Right. This is the formula. Folding period is written. Okay. One second. I just
26:46adjust this. Okay. This is the formula. So, here 10% investment is 10.3199, 10 percentage
27:02in the year. 10 percentage in the year. Phase value 10 in the year. That is 10 percentage
27:06in the year. 1 rupee dividend. 20 percentage in the year. Dividend is 2 rupees. Here
27:13is the last. There is no dividend. So, there is dividend. In the date level, dividend
27:22is 153.33 percentage. Now, the question is, what is the NAV here? Now, we calculate
27:31the year. We calculate the year. We calculate the year. We calculate the year. That is the
27:38formula. Dividend plus capital gain plus appreciation of your investment. Approxation of your investment.
27:43That is why the investment is 10.3. This is the dividend. Capital gain is the capital gain.
27:50of $50. So, this is the dividend. Now, if you lose $50. If you buy $50, you buy $50, you
27:55buy $50, you buy $50. You buy $50. You buy $50. You buy $50. You buy $50. You buy $50.
28:0310th. Overall written is 1.2 per month, per annum is 1.2 per month. Is that clear?
28:11That's the logic that we can talk about. Annualized is 153. How much time is 18 to 19?
28:2118th. 1st July. July, August, September, October, November, December.
28:336th. 3th. 9 months. 9 months. You can talk about almost 153.33% increase.
28:419 months is written. Only 9 months is written. Sorry. Annualized return.
28:49One words is written. But if 9 months is written, 9 months is written. That you have to calculate.
28:54153.33 into 9 by 12. Come on. Get the value.
29:05Come on. Get the value. 150. So, 115. So, in that detail, one thing,
29:13115 percentage change is written. 115 percentage change is written.
29:17You can go to the page. 115 percentage change is written.
29:21What do you want to do? Come on. Get the value. In the formula.
29:2511th. We have. We have. We have. Dividend. Plus. NAB on maturity. T. NAB at the time of starting. 0.
29:430. 0. 0. 0. 0. 0. 0. 0. 1.15 percentage. 1.15 percentage. Okay.
29:44Capital contribution is ill, capital appreciation is ill, divided by NAB at the 0th period, 0, 0th period in which value is 10?
29:561, 15 percentage, 1, 15 percentage, okay, 10 rupees are missed, appreciation of 1, 15 percentage, add and how do you get the value?
30:1610.15, sorry, 11.15, 11.5, am I right? Yes or no?
30:30No, I am per month, 9 months, then I am, then you get the value of 115 percentage growth is 21.5, okay, 21.5, okay.
30:46Then returns 21.5 is to null, dividend, capital appreciation and NAB at the time minus NAB at 0th period.
30:57Rendericular difference is all done, you get the return of 21.5.
31:01If dividend is 1 rupees, capital appreciation is ill, then Rendericular difference is in the end of the year?
31:08So, 20.5 of her company, the 20.5 will be the NAV, NAV, other NAV T, you can solve this and you will get this also, right? No problem with that.
31:20So, 20.5 will be the NAV, so 20.5 will be the NAV.
31:27Then, if you want to earn a 15.15 percentage increase by 15.5, return returns, now you can earn a money.
31:36You can earn a low amount of 15.5 will sell this, then you will earn a low amount of 2.00.
31:40Renderzus, Eker, etc.
31:41That is nothing but appreciation, that is nothing but appreciation.
31:45See, your return being only 11 percentage, 11.5 percentage,
31:47this is what about the NAB as on this date
32:01come on make a note of it
32:17so, we have this date
32:21value
32:23clear
32:25this is assumed
32:31it is assumed that
32:33and the dividend
32:35reinvesting
32:37assume
32:3915 units
32:4115 units
32:43reinvesting
32:45that dividend what he gets is reinvested
32:53by default dividend is reinvested
32:55so, that is also reinvested
32:59ok
33:05once again
33:15now
33:21now
33:23yeah
33:25it is assumed that
33:39it is reinvested
33:41so, it is assumed that
33:43it is reinvested
33:44if you have reinvested
33:46assume
33:47that
33:48start
33:4910 rupees NAB
33:5010,000 units
33:5110,000 units
33:5214
33:53in the date
33:54dividend
33:5510,000
33:56rupees
33:57that
33:58reinvested
33:59now
34:00now
34:01he has so much
34:05now
34:07he has so much
34:09to calculate
34:11as on this date
34:13in the date
34:15in the date
34:17in the date
34:19between
34:20between
34:22in the date
34:23in the date
34:24in the date
34:25in the date
34:26so
34:272
34:28into
34:29this one
34:30that is what about
34:31the amount
34:32he gets investment
34:33now
34:34my duty is to calculate
34:35the NAB
34:36as on this date
34:37in the date
34:38in the date
34:391
34:40これ
34:41is
34:42For
34:432019
34:44the date
34:45Again
34:47what is the annualized
34:48return
34:49to
34:50between
34:51this
34:52ok
34:53this
34:54is
34:55right
34:56next
34:57at
34:58the
34:59annualized
35:00return
35:01right
35:02what is the annualized
35:03return
35:04between
35:05this
35:06this
35:07period
35:0873.52.
35:15Again you have to calculate the same way,
35:18now you have to calculate the same way,
35:2019th and 20 March,
35:221 year December
35:242.75 years, right?
35:281.75 years,
35:301.75 years,
35:321.75 years,
35:341.75 years,
35:3620.50
35:40and
35:42appreciation,
35:44appreciation
35:46or return,
35:48return,
35:50this is how percentage
35:5273.52
35:54will be the return,
35:56per annum,
35:58annualized,
36:00and now you have to repeat,
36:021.75 period,
36:0473.52
36:0673.52
36:08redeemed
36:10data,
36:12let me check,
36:14okay,
36:16okay,
36:22okay,
36:24there is an error,
36:26in the
36:38that way,
36:40miss it,
36:42let me check with the original,
36:44virtual,
36:46in the summer,
36:48okay,
36:49that's all,
36:50that's how you can do it,
36:52year after year,
36:54so,
36:55first year,
36:56second year,
36:57repeat
36:58until the maturity date,
36:59is that clear?
37:00from the error,
37:01correct,
37:02.
37:03okay,
37:04clear,
37:06okay,
37:07clear,
37:08okay,
37:10clear,
37:11clear,
37:12.
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