Investment in Mutual Funds
A consumer invested in PNB Metlife with Rs. 50,000 per annum in May 2014 which has minimum of 5 years lock in period. After investing for 5 years, the total amount deposited by the consumer is Rs. 2,50,000/- . The maturity value as on today after 5 years of investment is only Rs. 2,45,000/-. Some points for consideration:
1. While the money is being used by the PNB Metlife is that of the consumer, the company must have made a profit of about Rs. 50,000/- or so, the consumer has earned a straight loss. The interest value if he would have kept in the FDR in any nationalized bank must have given an interest of about Rs. 60,000/- or so. Hence the direct loss is Rs. 65,000/- or so.
2. While the consumer who contributed its 1005 money in the transaction has a direct loss of Rs. 65,000 or so, the company had a profit of around Rs. 50,000/- from the consumer's investment.
Should there not be a regulation that in no case the maturity value should be less than the principal investment. Let the difference between principal amount and the maturity amount at least be paid by the company if not half half share of the profit by way of brokerage, commission etc. Members view please. more
1. While the money is being used by the PNB Metlife is that of the consumer, the company must have made a profit of about Rs. 50,000/- or so, the consumer has earned a straight loss. The interest value if he would have kept in the FDR in any nationalized bank must have given an interest of about Rs. 60,000/- or so. Hence the direct loss is Rs. 65,000/- or so.
2. While the consumer who contributed its 1005 money in the transaction has a direct loss of Rs. 65,000 or so, the company had a profit of around Rs. 50,000/- from the consumer's investment.
Should there not be a regulation that in no case the maturity value should be less than the principal investment. Let the difference between principal amount and the maturity amount at least be paid by the company if not half half share of the profit by way of brokerage, commission etc. Members view please. more
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Many of us have experienced similar loss situations where everybody else profits except the investor. Sr citizens are the worst sufferers because they have no jobs and are in dire need to earn from their retirement kitty. We express our sentiments in Local circles but no one bells the cat and we continue to suffer. more
Jan 20
Often wrong selling by service provider for their higher commissions and generally the amount receivable are less than amount invested. more
Jan 18
Aviva did the same thing with me. I had to remove the money within five years but at least I got my principal amount and some profit back but I learnt my lesson. Such schemes need to be under SEBI. The latter is very strict and all terms and conditions should be laid bare before the investor. NEVER INVEST IN ULIPS. more
Jan 17
A typical example of insurance firms, brokers and agents taking gullible customers for a ride. Any insurance linked scheme is good only if you die early; earlier the better! more
Jan 17
