In a market that is doing well or going up the fund managers call for more meetings. It is not as though they say different things..but I want to hear this:

• my strategy is not working now, there are other funds which are producing better results
• I was and am bullish about banking (or any sector), however I did not expect the macro dynamics to hit my NAV so hard
• It is not as though I am the best fund manager, we just have an excellent sales team
• I got damn damn lucky to have been born in the late 1960s (Gladwell)
• This is a good time to exit my fund, my back testing shows that it will take me about 6 months to sharpen my strategy
• I am paid a fee on the aum, so it is obvious that I will not be able to give you EXIT advice
• We do not have any great edge, but our friend circle among the industrialists is really strong
• Of course we do not deal with inside info, we create it.
• We are here for our shareholders, you are out customers.
• We have to make money for our shareholders principally
• We have to make enough money for you so that we can make money for the shareholders
• Many of our fund managers have left and taken our strategy along so there is nothing unique
• We have a lot of internal controls, but if you see some of our operational mistakes, WE would be scared
• If you knew our HR you would know how arrogant our Fund Bosses are
• We have never been innovative, but please do not hold that against us
• We got so lucky a few times in the past that we connected the dots and made it sound like strategy
• Our current performance is so bad, it can only get better
• Our fund management fee is a tad high, that is because we have an awesome brand image
• Look we do not need IFAs and Customers to tell us how to run our business, we know you are RIGHT
• Look guys, There Is No Alternative
• Many of our funds out perform the index because the Indian indices are poorly constructed
• The fund industry has found it easy to keep the index bad
• All Indian funds, on an average, are better than the average!!

now go have fun talking to your IFA….