I had the opportunity to inteact with one of the so called satisfied client of swiss cash. At least he knew one fact that now Indians can invest outside India upto a specified amount. all he had to say that everything is on the "website" and he is getting 25% for past 3 months. some very apperant fraudlent activities in the entire scheme are; 1. You never draw cheque in facour of broker/ advisor. but in this case the fellow was asking cheque in his name. 2. since the "MF" is based out of "USA" (??) they accept only dollers that too at the rate of 48.50!!! why a rational person would buy doller at 48 when the market rate is 40-41? 3. the returns you get is in "e-points" he had no answer what is this "e-points" & how one can redeem it. 4. There is no portfolio disclosure. the website mentiones each and every thing available under the sun like stocks, bonds, derivatives, commodities, currency, art, real estate etc.etc...i wonder if one could get better diversification than this!!!!! 5. there is no grevience mechanism. no local address in India. ....if somebody still interested i can pass on contact number!!! Beware of such fraud.
Indian or for that matter the mutual funds operated by the foreign fund houses in India are running nothing short of a scam house in name of Mutual funds. The corporate clients always get best of retail when they get their entry exist suitably backdated to take advantage of low prices. These people spend close to 7-8% of you unit cost of sales & marketing, charge upward of 1% as management commission. Wonder where all that goes... It's scary to hear the callousness with which so called stellar performers manage people's funds in markets, they treat public fund as a training pot for their trainees where losses running into a few lakhs are just useful lesson. No fund manager has consistently beaten the index even for 5 years time. Better pick up decent companies and buy their stock, market is full of idiots who think Mutual Funds are for investors benefit....
RE:It's a pit full of vipers
by Ajay Banerjee on Aug 28, 2007 01:46 PM Permalink
You may have some points, but the fact is that most of the major mutual funds in India have some schemes which have done much better than the Sensex or Nifty. There is enough data available on the internet if you want to check it. Your statement about most funds doing worse than indices is probably true for the US but not India. Finally, most Indian investors who invest in shares would probably get better results if they invested in carefully selected mutual funds. If you want to earn out of direct investment in shares you need to treat it as a full time job, which not everyone can do.
RE:It's a pit full of vipers
by WishyWashy on Aug 28, 2007 05:21 PM Permalink
Dear Sir! The words come from first hand experience not heresy. secondly the so called index beating schemes have stayed invested in very long risky end of market, in case of downturn it's customer who's left holding the katora. Secondly, all investment managers get fat fees when they make profit; no body has lost a job for losses. On average MFs loose money. last, you donot need to be an active investor to make money from equity market. Just find good stock and stay invested, try timing the market and you will turn out to be an idiot.
RE:It's a pit full of vipers
by prashant sharma on Aug 29, 2007 07:20 PM Permalink
no sir , they may not be the fools ,but i am sure most of them do not know about hefty fees charged by the MF companies which are in most of cases are hidden , and in most of the cases the returns shown by the MF companies do not potray the correct picture .
it is always better to go with trusted names dometci wise or international wise viz fidelity , JPMorgan , Merryl Lynch and in india HDFC , Reliance , UTI, LIC etc . There are many conman in the Internet world and do be carefull dont get drawn by instant money talk .there is nothing like that.
This article is shamelessly stolen from this website http://www.hyip-expert.com/tools/blogger/index/blog_id/83/ and presented as if the author had done the research on his own. Grow up kids.
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by guy inny on Aug 28, 2007 12:36 PM Permalink
Are Babu, criticizing just for heck of it should not happen, you criticize when rediff writes original articles and you do it when they dont.... still you come to this site everyday multiple times and cry "shame shame", boy you need a new site ... get off this one.
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by Nanda on Aug 28, 2007 12:08 PM Permalink
This site http://www.hyip-expert.com/tools/blogger/index/blog_id/83/ does not open. Can u tell me is there any specific guideline to open this site.
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by Oommen Mathews on Aug 28, 2007 01:17 PM Permalink
The content matters... not the owner
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by Hans Solo on Aug 28, 2007 03:19 PM Permalink
The Link is a blog, so its quite possible the Blog had infact copied an original article.
As for Rediff, it says the Author is from Outlook Money and rediff frequently republishes from other magazine.
At the Bottom of the article their is a link of "Powered By Outlook Money" to its website.
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by nagendra singh on Aug 28, 2007 01:02 PM Permalink
What is wrong with copying this article? I would even print it and put it on office noticeboard.
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by stanumedia on Aug 28, 2007 01:23 PM Permalink
Rediff is not running an essay competition! So, it does not matter whether it is STOLEN or LOOTED, as long as the article ENLIGHTENS greedy Indians from restraining them from investing in such FRAUDS!
Congrats REDIFF! Do take up such HUMAN INTEREST AND USEFUL STORIES!
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by guy inny on Aug 28, 2007 12:33 PM Permalink
does it really matter that rediff stole the article if it could save someones money? I DONT THIS SO...
RE:http://www.hyip-expert.com/tools/blogger/index/blog_id/83/
by shampa on Aug 28, 2007 12:13 PM Permalink
WHAT EVER IT MAY BE HE HAS JUST AWARED US THE FRAUD DONE IN THE NAME OF MUTUAL FUND HEAVY RETURNS AND TEMPT US TO INVEST IN THE FOREIGN MARKET. THANKS TO THE WRITER & RESEARCHER
