Category: Mutual Funds

Want to save for retirement or children’s targets? Do this calculation before you invest

Want to save for retirement or children’s targets? Do this calculation before you invest

Inflation calculation formula, SIP calculator, becoming a crorepati, mutual funds SIP, retirement calculator, impact of inflation,Merely beginning SIP might not be adequate except you save the correct amount to attain your purpose.

Who doesn’t need to get Rs 1 crore or even a better quantity of, say, Rs 2 crore by investing in several funding merchandise? To develop into a crorepati or multi-millionaire, with restricted funds, both the holding interval has to be lengthy or the expansion charge has to be excessive. Generating excessive returns comes with large dangers and, subsequently, one ought to strive to invest in investments which might be well-regulated and the place dangers are manageable.

But, one other danger that always will get ignored is the inflation danger. Inflation eats into the buying energy of cash and therefore the precise price of Rs 1 crore or any quantity at a later date might be lower than what it’s right this moment.

Let us assume, you need to save Rs 1 crore after 20 years however by the point you even have gathered Rs 1 crore, it’s price might be solely Rs 25 lakh! Yes, assuming the common inflation throughout the subsequent 20 years to be at 7 per cent, you will fall wanting turning into a crorepati by virtually Rs 75 lakh.

Starting to save by means of mutual funds SIP with out contemplating the impression of inflation may go away you with an enormous shortfall in the long term. If you are aiming to obtain a long run purpose by investing in SIPs, the price of the purpose may have elevated exponentially by the point you close to them. This is due to inflation and similar to tax eats into the returns, inflation eats into the buying energy.

When you begin saving by means of fairness mutual funds, it ought to be for assembly your long run targets. The investing course of ought to, nevertheless, be a deliberate and a scientific one. An ad-hoc saving strategy with no correct planning might find yourself in a short-fall in assembly your purpose. Investing in fairness MF may be performed by means of SIP which brings in monetary self-discipline to your financial savings course of. However, merely beginning SIP might not be adequate except you save the correct amount to attain your purpose.

Inflation impression on funding – Example

Let us say, after 20 years you need to ship your baby for greater schooling which prices Rs 20 lakh right this moment. To save Rs 20 lakh after 20 years, assuming a return of 12 per cent, you want month-to-month SIP of Rs 2500 to save.

If the assumptions stay true, you may have Rs 20 lakh after 20 years however you have ignored the impression of inflation. The value of schooling is rising and schooling inflation is taken into account to be round 10 per cent.

The impression of inflation is such that it decreases the buying energy of rupee. Using the buying energy of cash calculator, one might discover out that the buying energy of Rs 20 lakh after 20 years, at an assumed 7 per cent, might be about Rs 5 lakh. As prices are going up, the price of Rs 20 lakh is decreased to Rs 5 lakh!

Therefore, before beginning to save for your long run purpose, ensure that you have estimated the inflated value after which do SIP.

In the above instance, Rs 20 lakh after 20 years at an assumed 7 per cent inflation will truly value you Rs 77 lakh. Now, to save in the direction of it, you really want to do SIP of Rs 7500 as an alternative of Rs 2500.

Similarly, if you want to save Rs 1 crore, Rs 2 crore or Rs 5 crore, you discover out the month-to-month SIP quantity utilizing a SIP calculator and begin saving in the direction of it. However, on maturity, the price of Rs 1 crore might be a lot much less due to the inflationary impression.

Also, whereas utilizing a retirement calculator, it’s equally necessary to modify family bills for inflation. Currently, in case your month-to-month family expense is Rs 35,000, after 20 years, assuming an inflation of 5 per cent, it will likely be about Rs 92,000.

Inflation calculation method

In an excel sheet, you can use the next method to calculate decreased worth due to inflation:

Reduced quantity = quantity/(1 + inflation charge)^quantity years

For instance, price of Rs 1 crore after 20 years at an assumed inflation charge of 5 per cent might be –

= 10000000 / (1+5%)^20

= Rs 37 lakh ( roughly)

Therefore, before you begin SIP, determine your long run targets corresponding to kids’s schooling or marriage and your personal retirement. This will assist you to hyperlink MF investments to particular targets. Then, discover out two issues – Today’s value of the purpose and Years left to purpose. Finally, calculate the inflated value and month-to-month financial savings required to obtain it utilizing the SIP calculator.

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I almost sold a huge chunk of my portfolio of VTSAX this morning because I got nervous about the market with the election and Covid…had to remind myself to ignore my stupid emotions and stick to the long-term plan.

I almost sold a huge chunk of my portfolio of VTSAX this morning because I got nervous about the market with the election and Covid…had to remind myself to ignore my stupid emotions and stick to the long-term plan.

I almost sold a huge chunk of my portfolio of VTSAX this morning because I got nervous about the market with the election and Covid...had to remind myself to ignore my stupid emotions and stick to the long-term plan. submitted by /u/wolley_dratsum
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Mutual Fund: Time increased for submission of application types, but you may not get same day NAV

Mutual Fund: Time increased for submission of application types, but you may not get same day NAV

It is not assured that if an investor submits his/her application to put money into a scheme earlier than the stipulated cutoff time, he/she is going to get the items allotted on the same day NAV.

With most workplaces closed and a few important companies, together with the inventory markets and different monetary companies like banks, mutual fund (MFs), and many others, open with naked minimal staff throughout the Covid-19 lockdown, the Securities and Exchange Board of India (SEBI) had lowered the cutoff instances for submission of MF transaction associated types.

To avail same day NAV, the market regulator in its April 6, 2020 order had lowered the cutoff time for subscription to Liquid and Overnight Funds from 1.30 pm to 12.30 pm, and for different schemes from three pm to 1 pm efficient from April 7, 2020.

Want to purchase/promote mutual fund at in the present day’s NAV? Remember! You can’t make investments/redeem up until three pm

SEBI prolonged the lowered transaction timings additional in its two subsequent orders dated April 17 and April 31, 2020.

With nearly all of the companies reopened, the Association of Mutual Funds in India (AMFI) had requested the market regulator to revive the unique cutoff timings for MF transactions.

Accordingly, SEBI on October 15, 2020, has determined that minimize off timings for applicability of NAV for each subscription and redemption for all schemes aside from these categorised as Debt Schemes (Debt Schemes shall embrace Debt Schemes, Conservative Hybrid Fund, Conservative Plan of Solution Oriented Scheme, Fund of Funds scheme investing in debt oriented Mutual Funds and shall exclude Liquid & Overnight schemes) shall be restored to the unique cut-off timings of three pm with impact from October 19, 2020.

While the subscription time for Debt Schemes and Conservative Hybrid Fund, aside from Liquid and Overnight Funds has been increased to 1 pm to avail same day NAV, that of Liquid and Overnight Funds will proceed to be 12.30 pm.

The cutoff time for redemption to avail same day NAV for all of the Debt Schemes and Conservative Hybrid Fund, together with Liquid and Overnight Funds has been relaxed to 1 pm.

The following desk exhibits the present cutoff timings of totally different classes of MF schemes:

However, it’s not assured that if an investor submits his/her application to put money into a scheme earlier than the stipulated cutoff time, he/she is going to get the items allotted on the same day NAV.

Applicability of NAV upon realisation of funds to make it troublesome to put money into MF at a desired worth

This is as a result of, to deliver uniformity, the market regulator has determined that the items of a scheme will solely be allotted after realisation of funding cash, which was relevant earlier for investments over Rs 2 lakh.

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How SEBI’s recent moves make mutual funds more investor-friendly

How SEBI’s recent moves make mutual funds more investor-friendly

The previous two years haven’t been simple for mutual fund buyers.

Many debt funds that had been marketed as merchandise much like fastened deposits with greater returns, have seen credit-rating downgrades of debt papers eat into their returns in a number of instances.

And the pandemic noticed fairness markets see-sawing dramatically, proving as soon as once more that guessing market moves can by no means be one’s cup of tea.

Assessing the dangers inherent to mutual fund investments has confirmed a troublesome problem for buyers.

The securities market regulator SEBI’s recent moves — revised measure of threat, stricter norms for inter-scheme transfers and renaming of dividend schemes — are aimed toward higher figuring out the dangers in mutual funds and in addition bringing in higher transparency for buyers.

Gauging threat in mutual funds

‘Mutual funds are topic to market threat’ is a message that has been drilled into buyers’ minds for a very long time. But what ought to matter to buyers is the extent of that threat — low, medium, excessive and even very excessive.

Under the prevailing system, threat in a mutual fund scheme is assessed primarily based on the chance to the principal.

That is, the chance degree of a scheme is dependent upon the fund class to which it belongs.

For instance, a liquid debt fund falls within the ‘low-risk’ class. A big-cap fairness fund is labelled ‘reasonably excessive threat’, whereas a riskier sector-focussed fund is labelled ‘excessive threat’.

Fund homes do the chance classification of schemes primarily based on their very own evaluation, although the chance labels are broadly related throughout fund homes.

To verify the chance label of any scheme, buyers should take a look at the risk-o-meter (pictorial meter) on the month-to-month factsheet.

SEBI has now come out with an goal formula-based framework to gauge and disclose dangers in mutual funds. The new threat framework comes into impact from January 1, 2021, for all current in addition to to-be-launched schemes.

What has modified

Under SEBI’s new framework, the chance degree of every mutual fund scheme can be evaluated primarily based on its precise portfolio composition, and won’t merely depend upon the class to which it belongs. The threat can be measured after considering a number of components, every of which can be quantified to reach at an total rating.

Debt securities in a scheme portfolio can be evaluated primarily based on credit score threat, interest-rate threat and liquidity threat. For fairness holdings, the components to be thought-about can be market cap, inventory volatility and liquidity.

The ultimate threat degree can be a easy common of the scores on every parameter. The new framework additionally quantifies the chance related to different securities reminiscent of money, gold, REITs (real-estate funding trusts) held by MFs.

One more degree of threat — ‘Very High’ — has been added to the prevailing 5 ranges — Low, Moderately Low, Moderate, Moderately High and High — for depicting the chance related to a mutual fund scheme.

The threat evaluation can be undertakenon a month-to-month foundation with any change within the threat label being communicated to buyers. Fund homes may also should disclose the variety of occasions the chance label of a scheme adjustments in a yr on their web site and the AMFI (Association of Mutual Funds in India) web site.

Implications for buyers

With the brand new threat system, schemes inside the similar class might have completely different threat labels if their underlying portfolios differ from a threat perspective. This shouldn’t be the case proper now.

For occasion, all liquid funds are at present labelled ‘low threat’. While this can be acceptable from an interest-rate threat angle, it could not at all times absolutely seize threat together with credit score and liquidity threat. Once the brand new labelling is available in, not all liquid funds might retain the ‘low threat’ tag.

In the fairness area, mid-cap funds are at present categorised as ‘reasonably excessive threat’ and should make investments a minimum of 65 per cent of their corpus in mid-cap shares. Depending on the place a mid-cap fairness scheme invests the remaining 35 per cent of its corpus, its threat rating below the brand new method could also be completely different from one other fund in the identical class.

Similarly, tactical calls involving shift of a big share of a fund’s corpus from massive caps to small caps (in multi- cap funds, as an illustration) might additionally change the chance profile.

If the chance label of any mutual fund scheme that you’ve got invested in adjustments in January 2021, you could wish to re-evaluate your investments — presumably by transferring into schemes which might be consistent with your threat urge for food.

Keep in thoughts that whereas threat assessments should be up to date each month, month-on-month adjustments in scheme threat labels needn’t essentially occur.

“It is very unlikely that fund managers will consciously alter the chance profile of a scheme continuously. One-off occasions reminiscent of credit score downgrades for sure securities in a debt scheme portfolio might presumably have an effect,” says G Pradeepkumar, CEO, Union AMC.

However, buyers mustn’t rely solely on the chance label.

While two schemes with scores of three and three.1 is probably not very completely different from one another, the primary can be labelled ‘reasonable threat’ and the second ‘reasonably excessive threat’.

Likewise, whereas any scheme with a threat rating higher than 5 can be labelled ‘very excessive threat’, the extent of the chance could also be fairly completely different primarily based on the precise threat rating.

That being mentioned, the chance labels could be a good place to begin. As Mahendra Jajoo, CIO – Fixed Income, Mirae Asset Investment Managers India, factors out, one fixed suggestions on debt funds is that they’re far too difficult to know. The new methodology is, due to this fact, a good try to elucidate all the first threat components in a single quantity, and represents a major step ahead, he provides.

For more readability, buyers can undergo scheme portfolios within the month-to-month factsheets.

Regulating inter-scheme transfers

Inter-scheme transfers (ISTs) got here below the highlight after large-scale redemptions in credit-risk funds subsequent to the Franklin Templeton debt scheme wind-up. This highlighted the potential of transfers of debt papers from these high-risk schemes to others schemes inside the similar fund home to generate liquidity to deal with redemptions.

While SEBI doesn’t present scheme-level information on ISTs, aggregated information on ISTs in company bonds by mutual funds confirmed a spike in March and April 2020, pointing to the doable connection between elevated ISTs with the liquidity pressures confronted by credit-risk funds.

On the face of it, there may be nothing unsuitable with ISTs, which primarily contain transferring of securities from one scheme to a different inside the similar fund home. These are permitted below SEBI’s current rules supplied the switch occurs at an arm’s size foundation — such that neither the shopping for nor the promoting scheme will get any undue profit on the expense of the opposite.

The worry although is that schemes incomes lower-credit-quality debt or illiquid shares might take recourse to such a switch to window-dress their portfolios or prepared them to satisfy redemptions. So, whereas ISTs might assist funds generate liquidity if any scheme faces large-scale redemptions, the switch additionally must be honest to buyers within the recipient scheme, by falling inside its mandate and never unduly altering its threat profile.

The lack of information on scheme-wise ISTs for each fund home fuels issues and speculations about their doable misuse.

SEBI’s tightening of guidelines for ISTs with impact from January 1, 2021, might function a verify.

What has modified

The regulator has introduced in a number of safeguards to make sure investor curiosity is protected, whereas permitting fund managers the pliability to undertake ISTs in sure conditions.

First, for close-ended schemes, ISTs can be allowed solely inside three enterprise days of allotment following a brand new fund provide.

Second, for open-ended schemes, ISTs can be allowed the place a scheme faces redemption pressures and the fund supervisor has already used up the scheme’s money holdings, has tried to promote the securities available in the market, and has tried to borrow from the market. Only then might the fund supervisor undertake ISTs and even then, solely with comparatively low-risk securities.

Fund managers have, nevertheless, been allowed some leeway on using market borrowing which can not at all times be possible. ISTs may also be permitted if a scheme does the switch to stick to the regulatory limits on portfolio period and on issuer-, sector- or group-related exposures.

Third, to make sure ISTs aren’t misused in credit-risk schemes (which anyway are likely to have a excessive proportion of lower-rated, much less liquid securities), efficiency incentives of fund managers and CIOs can be negatively impacted if the safety turns into default grade inside a yr after an IST.

For different schemes, if a safety will get downgraded inside 4 months after an IST, the fund supervisor of the shopping for scheme has to supply detailed justification for the acquisition, to the trustees.

Fourth, SEBI has debarred ISTs if there are damaging information or rumours in mainstream media or if an alert is generated concerning the safety primarily based on inner credit- threat assessments.

Implications for buyers

With SEBI’s stricter rules, one hopes that the choice on ISTs will now not rely solely on the judgement of fund supervisor/s of the schemes concerned within the switch.

The tighter norms ought to work in direction of eradicating the temptation to make use of ISTs because the measure of first resort.

The restricted three-day window for ISTs in close-ended schemes can stop the doable misuse of ISTs to switch subpar securities into such schemes. This ought to safeguard the curiosity of buyers in close-ended schemes which lack an exit possibility.

The rules may also present some assurance to buyers in hybrid schemes (mixture of fairness and debt) in opposition to the doable misuse of ISTs. The debt portion within the portfolio of a hybrid scheme doesn’t at all times get as a lot investor consideration as a pure debt scheme.

The fairness portion, too, can present some buffer in opposition to underperformance in debt. Transfer of securities (not all of which can be low-risk, high-credit high quality) into these schemes to cope with liquidity points in debt schemes could be a tempting possibility.

The stricter norms may also function a verify on the temptation to make use of ISTs to prop up the efficiency of the more widespread and broadly tracked schemes on the expense of the smaller, lesser-known schemes. All these can defend buyers from the potential of getting short-changed in sure schemes.

Fund homes, then again, should be better- ready. According to Mirae’s Jajoo, it will likely be necessary for funds, notably the bigger ones, to have a greater risk-management framework in place.

SEBI has requested fund homes to rename their dividend schemes from April 202 with the intention to present higher transparency to buyers.

‘Dividend Payout’ will turn out to be ‘Payout of Income Distribution cum capital withdrawal possibility’; ‘Dividend Re-investment’ will turn out to be ‘Reinvestment of Income Distribution cum capital withdrawal possibility’; and ‘Dividend Transfer Plan’ can be ‘Transfer of Income Distribution cum capital withdrawal plan’.

What has modified

There isn’t any change in the best way dividends can be calculated or paid out. What has modified is that fund homes should inform buyers concerning the supply of these dividends — how a lot of it’s by means of revenue distribution and the way a lot is solely capital distribution.

Implications for buyers

Many buyers see dividends distributed by mutual fund schemes as much like dividends they obtain from shares in listed firms. But they aren’t the identical. Stock dividends are distributed from an organization’s income and characterize a return in your funding. MF dividends, against this, are extracted from the fund corpus itself by promoting off investments. The dividend cost might, actually, additionally embrace a few of your invested capital, which is being returned to you.

Therefore, while you pay tax on dividends obtained, not solely do you pay tax on the revenue distribution element (which is capital appreciation) but additionally on the capital distribution element, which is a part of the capital you initially invested. The new norms ought to assist deliver this out clearly to buyers.

The new norms ought to assist make this more clearly to buyers.

In conclusion, all these recent adjustments will make mutual funds more sahello for buyers.

Regulation of ISTs together with month-to-month threat analysis of mutual funds primarily based on their precise portfolio composition go hand in hand. Significantly sized ISTs involving illiquid, low-credit securities might now not have the ability to circumvent the portfolio-based threat evaluation, and will presumably get mirrored within the type of greater threat scores for the impacted schemes.

Furthermore, specialists counsel that offering publicly accessible information (for instance, on the SEBI or AMFI web sites) on ISTs on the scheme degree for each fund home might go a good distance in bringing in higher transparency for buyers. Currently, SEBI offers information on ISTs in company bonds by all mutual funds put collectively.

New Fund Offer: Axis Mutual Fund launches Axis Banking ETF – Check details

New Fund Offer: Axis Mutual Fund launches Axis Banking ETF – Check details

axis mutual funds nfoThe fund has been designed in a fashion that it tracks the efficiency of the 12 largest banks listed on the NSE.

Axis Mutual Fund has introduced the launch of their new fund provide – ‘Axis Banking ETF’. In a press release, Axis MF stated it’s an an Exchange Traded Fund which affords buyers a possibility to put money into the largest banks in India at their very own tempo because it provides publicity to all of them in a neatly packed chunk-sized alternate traded fund.

The fund has been designed in a fashion that it tracks the efficiency of the 12 largest banks listed on the NSE.

Only banking shares which can be allowed to commerce in F&O phase are eligible to be constituent of the Index. Currently, the index has 83.3% publicity to personal banks and ~11.7% publicity to PSU banks, the assertion stated.

Why Banking Sector?

Banking is the life blood of the monetary sector. Its significance in our economic system has been rising persistently as we see the long run shift to financialization of family property and larger demand for monetary merchandise.

The weight of Banking within the Indian markets has been going up steadily during the last decade and it’s now the biggest sector in the important thing fairness market benchmarks comparable to Nifty 50. Even in latest quarters, banking sector has proven resilience regardless of the pandemic.

Given the size and the added thrust that the federal government and regulatory our bodies are offering to the banks, the sector is poised for a revolution. Banks are more and more funding to retail lots and providing companies backed by know-how which can be growing their potential to scale enterprise.

Why ETF?

Apart from being price efficient, ETFs let buyers make investments at actual-time costs versus finish of day value by sector funds. It protects their investments from the inflows and outflows of brief-time period buyers. Furthermore, ETFs are finest suited to earn asset-class linked efficiency and is touted to be some of the versatile instruments for gaining prompt publicity to the markets, thereby equitizing money.

Commenting on the NFO, Chandresh Kumar Nigam, MD & CEO, Axis AMC stated, “As a accountable fund home, Axis MF understands the necessity to provide an entire bouquet of choices to buyers. We wish to develop, introduce and supply the merchandise which can be related within the present context. Accordingly, we acknowledge the necessity to provide buyers a alternative of methods together with sturdy passive merchandise. The launch of Axis Banking ETF is part of that endeavour and we anticipate to take numerous initiatives to construct up our passive product suite over time.”

The new fund affords (NFO) can be open for subscription from October 16, 2020 to October 29, 2020.

I’m thinking of rolling with this portfolio for the next 10-20 years and just rebalancing once a yr? Is this a good technique? : mutualfunds

I’m thinking of rolling with this portfolio for the next 10-20 years and just rebalancing once a yr? Is this a good technique? : mutualfunds

Retirement accounts or in any other case, long- or short-term, a subreddit to debate all issues investing with a deal with mutual funds. Discuss bills and charges, index versus managed funds, John Bogle, Jeremy Siegel, market timing versus buy-and-hold, and any of the different perennial subjects associated to investments and funding strategies–again, with a main deal with mutual funds (though associated subjects equivalent to particular person inventory investing and ETFs are okay too).

SEBI’s idea of AMCs funding their own backstop is a good one

SEBI’s idea of AMCs funding their own backstop is a good one

The Chairman of Securities Exchange Board of India (SEBI), Ajay Tyagi, raised pertinent factors about debt mutual funds in his latest handle to Association of Mutual Funds of India. After congratulating the trade on including retail property at a brisk race, he flagged the dangers to these very buyers arising from liquidity points cropping up regularly in debt funds. Referring to Franklin Templeton freezing investor payouts by abruptly shuttering six open-end schemes, Tyagi mooted three attainable measures to stop a repeat. He advised a backstop entity that will purchase out illiquid company bonds from debt funds throughout stress, with pores and skin within the recreation from trade gamers. He proposed an advisory committee to give you mechanisms for stress-testing and swing pricing of debt funds. Interim guidelines will in the meantime be framed requiring all debt funds to park a minimal proportion of their property in liquid devices. All this has attracted predictable pushback from debt fund managers, who complain that creating a backstop facility of satisfactory measurement will pose sensible difficulties and that holding liquid devices would dilute returns.

But such complaints divert focus from the structural anomaly in open-end debt schemes that promise anytime liquidity to their buyers, whereas investing principally in illiquid company bonds. This conundrum is certain to crop up again and again hurting buyers, until SEBI finds lasting fixes to it. In latest years, home AMCs have amassed debt property of ₹12.6 lakh crore and pocketed good-looking charges, from promoting ‘high-yield’ funds that dabble in illiquid company bonds. The drawback of bunched-up redemptions in such funds is additionally of the trade’s own making because it has actively wooed opportunistic company treasuries and HNIs to those funds. Now it is solely truthful that the trade foots the invoice to make sure that these funds fulfil their promise of anytime liquidity, as an alternative of knocking at regulators’ doorways each time there’s a disaster. The RBI’s newest MF liquidity window marks the third event on which it has needed to bail out the trade after the crises of 2008 and 2013, elevating questions of ethical hazard.

Arriving on the applicable measurement for a backstop entity is hardly the problem. It can quantity to, say, 20 per cent of the ₹1.5 lakh crore property managed by credit score threat and company bond funds, with each AMC contributing in proportion to the property it manages. If the trade feels that such a backstop is tough to fund, it must curtail company debt funds managed within the open-end format and transfer to a extra manageable close-end format. SEBI may take a look at permitting debt funds to gate redemptions for restricted intervals and apply investor-level caps on fund holdings to stop bunched-up outflows. Many of these points would type themselves out as soon as India’s company bond market attains a affordable stage of growth. For this, SEBI wants extra lively help from the Centre and RBI.

“The study also looked at 45,000 mutual funds’ performances from 2005 to 2015, and concludes there is some ability, but mostly luck.” : mutualfunds

“The study also looked at 45,000 mutual funds’ performances from 2005 to 2015, and concludes there is some ability, but mostly luck.” : mutualfunds

Retirement accounts or in any other case, long- or short-term, a subreddit to talk about all issues investing with a give attention to mutual funds. Discuss bills and charges, index versus managed funds, John Bogle, Jeremy Siegel, market timing versus buy-and-hold, and any of the opposite perennial subjects associated to investments and funding strategies–again, with a significant give attention to mutual funds (though associated subjects corresponding to particular person inventory investing and ETFs are okay too).