We are also told that Dhiraj Khansaheb, a senior treasury official at Bank International Indonesia, has quit banking. The business seems to be losing its zing. Double-edged Mutual Funds love telling investors that the best way to make money is through systematic investment plans where one contributes a fixed sum of money every month, to one s favourite scheme. The Jan 2001 newsletter of Birla Advantage fund, however, has some interesting insights. An SIP investor in the scheme has actually lost 51.5 per cent of value over the one year period as compared to a 46.10 per cent loss over the same period for a non SIP investor.
Old habits Blame it on the elections.
After giving an impression last year that it is serious about management continuity in public sector financial institutions, the government is back to its old ways. At present as many as five posts in the financial sector are awaiting government clearance. However, the grapevine now has it that the SBI managing director spost has a new contender in A K Batra managing director of State Bank of Patiala. But, the December fact sheet shows that the fund lost 11.83 per cent over a three-month period, as against a 8.2 per cent fall in the BSE 200 over the same period. And, investors in Unit Trust of India s Unit Scheme 1992, a close end equity scheme, must be ruing their investment decision.