Seminar on “World Consumer Day” March 15, 2004

On the eve of “World Consumer Day” Monday, March 15th, 2004, CFBP - organized a seminar on “Financial Planning through Mutual Fund Investment”.

The objective of the seminar was to educate the Small Investors and Senior Citizens about the pros and cons of the investments into Mutual Funds.

Mr. V.S. Palekar, President, CFBP welcomed the gathering and emphasized the importance of High Ethical Standards to build Consumer Confidence. He further stated that consumer needs to be educated not only about his rights but also about the numerous options available to him. And hence the CFBP is organizing series of Consumer Education Programmes. He then explained the reasons to choose the topic of financial planning, which is of utmost importance to everyone.

Mr. Subash Gogia, Chairman, Programmes Committee explained the importance of the programme and its relevance with “World Consumer Day”. He then introduced the speakers Mr. Sanjay Prakash, CEO, HSBC Asset Management (Pvt.) Limited and Mr. Vijay Venkatram, Head, Wealth Management – India, HSBC Limited.

Mr. Sanjay Prakash, enlightened the gathering about investment opportunities available through Mutual Funds. He then explained the functioning of the Mutual Funds and its benefits i.e. Professional Management, Convenience, Risk Diversification, Liquidity and transparency etc. He also explained the types, characteristics of the various schemes available and risk involved in the mutual fund investments. He also explained the tax benefits of investment in Mutual Funds.

Mr. Vijay Venkatram explained the gathering about the personalized financial planning, what it means and its importance He then elaborated on the process of financial planning, involving identifying needs and obligations of the investors, identifying protection needs, analyzing data and developing financial plan and finally reviewing the progress. He also stressed on the importance of risk profiling with respect to financial planning. He also explained the benefits of financial planning by focusing on specific needs according to personal circumstances. While concluding he said that financial planning is a system of working towards achievement of financial objectives of individual investors.

Both the speakers then satisfactorily answered all the questions raised by the audience.

Mr. Dinesh Parekh, Vice President, CFBP gave vote of thanks and expressed his gratitude towards the speakers, sponsors and gathering.

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