Icici’s shenanigans
To the best of my knowledge Icici bank knew that Videocon is a bad company to lend to in the 1990s itself. I would be surprised that they would lend so much more…especially with such a poor track record.
Well this is not about Icici. It is about their off springs.
Icici Securities – where a person I know lost about Rs. 80L over a 5 month period. This maha stupid person played along with the RM until she wiped out her family portfolio. No of course nothing unethical, just plain immoral and in USA it would have been ILLEGAL.
Icici Prudential Life: Sold a pension plan with death benefits to a bachelor who had NOBODY dependent on him. Just a bloody expensive policy sold by the bank that never lets people sleep. Well well, he had no choice but to pay….
Icici Prudential Mutual fund: Not exactly the cleanest and fund managers reply “but it is such a small fraction of our total portfolio”. Wow.
Cross investing, high charges, ….seems to be the norm. Most of us invest because of past history and a good head of equities. Now seriously wondering …
http://mfcritic.blogspot.in/2018/04/icici-prudential-strange-investment-choices.html
Ramesh
You were not just all praise for ICICI Funds managed by Naren Sankaran but recommended them in TV interviews too. Rot exists everywhere and there are no clean avenues until index funds pick up and mirror healthy returns.
subra
yes Ramesh I agree with you. Till index funds do not start out performing managed funds, one should remain in cash, and not invest at all. You are right.
Personally I have invested in Icici Pru Discovery and am happy with the returns. I guess YOU should stay in cash
Krish
There is some issue with Indian Corporate Board members. Nothing changed before or after Sathyam episode. CK must have earned huge amount being CEO for long term. Unfortunately Greed has no limits.
Santhanam
Subraji,
Are NIFTY Next 50 Index Funds are good ?
It is said that they outperform other actively managed mutual funds?
Please tell your thoughts
Ramesh
Haha! Subra has a way to turnaround his stance. It does not matter active or passive as long as they meet your expected returns. In the longrun, I am confident managed funds will fail to match index returns given the large expense ratios and various other charges levied on the AUM.
Although ICICI funds have invested in ETFs as mentioned in the link, the exposure at this time is limited and does not make much difference in terms of returns. I own both ICICI Value Discovery and Focussed Bluechip Funds. Both have done well, although the former has underperformed last 3 years and failed to meet its benchmark returns.