NFOs fail to deliver big-time

Well, the reasons for this tumble are simple – more than the fresh influx of funds, it is the money moving out from the existing funds to the newly launched New Fund Offers (NFO). Over the past one & half years, the market has been witnessing a bull run with Sensex thundering across the 15,000 milestone; but to the agony of investors, more than 60% of the NFOs have had a trailing record against their benchmarks (the table alongside has startling performance results). UTI Contra, Tata Contra, Sundaram BNP, Stanchart Classic, SBI, Reliance, Magnum, take a name & we’ll show you blood on Dalal Street. Gauri Magar of Arihant Capital Market, puts across her views while speaking to B&E, “They are changing their portfolio on a monthly basis, investors are looking for short term gains & hence you have AUMs eroding, NFOs must be looked as a long term investment...” Easier said than done. If one year is not considered long term, then pray, tell us what else can be?

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Source: IIPM Editorial, 2008

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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“Challenge in business is continuous and is accompanied by continuous innovation and rejuvenation”

After completing his Management degree from the Motilal Institute of Business Management, Allahabad, Sethi started his corporate journey with Reckitt & Colman of India in 1984 as a Branch Manager for the eastern region. His outstanding performance at the company soon saw him being promoted to the post of National Sales Manager in 1987. He was later transferred overseas and worked in West Africa and Nigeria. In his two decade stint, he has seen the company both through the good and bad times – when the company became a subsidiary of the global FMCG giant Benckiser in 1999 and was renamed Reckitt Benckiser (India) Limited and also when the company’s four-year-old JV with Nicholas Piramal ended in 2001.

However, the dissolution of the JV did not hurt Reckitt Benckiser much, as they got their hands on the prized 65-year-old brand Dettol and Disprin. Keenly understanding the Indian market, Sethi took no time to extend the company’s flagship brand Dettol, which is the leader in the antiseptic market with an 85% market share. The market was soon flooded with Dettol Liquid Hand Wash & Dettol Soap that have managed to find a prominent place in people’s bathrooms. The brand extension strategy was a runaway success as Dettol Liquid Hand Wash created an altogether new segment. It now commands 60% of the market in this new category. In the health soap division too, Dettol Soap accounts for 18% of the market. Explaining the core philosophy that drove his business, “media shy” Chander Mohan Sethi (as he likes to call himself) told B&E, “Challenge in business is continuous and is accompanied by continuous innovation and rejuvenation.”

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Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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India’s greater ‘Reliance’ on loans

India Inc. has raised over $8 billion through syndicated loans by way of 33 deals in the first half of 2007, the leader being Reliance Industries. RIL alone mopped up a massive $2.7 billion. Syndicated loans volume of India Inc. was at $8.3 billion for the first half of this calendar year, which showcases a steady growth path over the previous year’s figure of $8.1 billion through 41 deals. Others, which followed the behemoth are, Tata Group raising $400 million, British mobile giant Vodafone and largest lender State Bank of India (SBI), both gathering $300 million each while HDFC (not too far behind) gathered $285 million through syndicated loans.

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Source: IIPM Editorial, 2008

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative


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Once again, the Indian Left has proved its hidebound approach

“By allowing the aircraft carrier, India is violating its own policy of not allowing any warship carrying deadly weapons”, said CPI secretary D Raja. His objection was more vehement because the ship belonged to America. But, he was wrong on this count also, as India has in the past, not only allowed more than 10 warships to dock on its shores but has also conducted joint naval exercises with American & European warships in Indian waters.

Moreover, with the crew of the American leviathan spending on an average approximately $1 million per day during the four day stay and an almost similar amount is being earned through repairs & maintenance, the Department of Revenue has no reason to complain. The Left parties need to grow up; stop nitpicking & concentrate on drafting better policy to take the nation ahead.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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