Indian Mutual Funds Handbook
Sundar Sankaran's Indian Mutual Funds Handbook from Vision (www.visionbooksindia.com) is out in its second edition, with 100-plus+ new pages. "Total mutual fund assets under management at the end of December 2006 were above Rs 3.5 lakh crore, which is more than 10 per cent of total deposits in the banking system," notes the foreword by Shekhar Sathe. "Close to Rs 2 lakh crore of those assets were invested in debt and money market instruments; the rest being equity assets." An indication of `the increased disintermediation of risk from banks to investors,' comments Sathe.
`The book aims to unravel some of the mysteries and clear the typical confusions,' assures the preface. And Sankaran delivers on his promise by explaining the concepts and practices through examples and quotes, stories and case studies. For instance, the intro opens thus: "On my way to the office of Opportunistic Mutual Fund, I decided to visit the No Promises Laundry." What is the connection? "In a laundry, when you give one shirt, you will certainly not get two shirts back. In a mutual fund, you can double your investment — or lose your shirt in the market," explains the author.