[04:25:04 PM] => Welcome to the live chat session at myiris.com
[04:26:17 PM] => Myiris: Mr. U.R.Rao, Divisional Manager, Canbank Mutual Fund will be joining us in a few moments
[04:26:42 PM] => DISCLAIMER

[04:27:12 PM] => Mr. U.R. Rao is the Divisional Manager and Funds-in-charge, Canbank Mutual Fund. At the time of this conversation / chat, Mr. Rao may or may not have positions in the stocks mentioned below, although holdings may change at any time.

[04:27:44 PM] => The views expressed by Mr. U.R. Rao is based upon information that he considers reliable, but does not represent that it is accurate or complete, and it should not be relied upon as such. Mr. Rao, his company and its affiliates, officers, directors, partners, and employees may, from time to time, have long or short positions in, buy or sell and deal as principal in the securities, or derivatives thereof, of companies mentioned herein and may take positions inconsistent with the views expressed. None of the information contained herein constitutes, or is intended to constitute a recommendation of any particular security or trading strategy or a determination that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. You should consult with and rely upon your own advisors whether and how to use such information in making any investment decision.

[04:28:24 PM] => Lastly the views expressed by Mr. U.R. Rao have no bearing whatsoever with that of IRIS Ltd. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website www.myiris.com.

[04:39:35 PM] => Atul : What are your views on the FMCG sector for the coming months?
[04:40:47 PM] => UR : FMCG sector may be in a position to show positive growth in the coming days as they have been able to save cost in terms of procuring the raw-materials at the best rates and also reduce cost on account of internal restructuring etc. Besides if the demand picks up on account of good monsoon ,they may be in a position to improve the top line also.

[04:41:18 PM] => Raghu : Do you think that the relaxation of the DPCO will improve the prospects of the pharma sector?
[04:41:41 PM] => UR : Any relaxation in the DPCO will improve the prospects of the pharma companies

[04:42:10 PM] => Ramesh : After the US-64 fiasco, is there going to be an erosion of confidence in Mutual Funds?
[04:42:46 PM] => UR : I am of the opinion that the US-64 fiasco may not have much impact as the matter is being sorted out.

[04:43:15 PM] => Naren : Whats been the impact of US-64 crash on canbank mutual?
[04:44:10 PM] => UR : Though the indications are there about the interest rate easing, I think interest rate may not fall in the short run as 60% of the Govt borrowing is completed. At the best the rate will rule at the current levels.

[04:44:50 PM] => Sriram : What is the target set by Canbank mutual fund, with regard to net asset base, over the next one year?
[04:45:28 PM] => UR : We have set the target of mobilizing funds to the extent of Rs 200 crores in the short run.

[04:46:04 PM] => Suraj : What are your views on second rung IT stocks? Will they survive?
[04:47:09 PM] => UR : As the market is bottomed out, in case of some rally, the first rung IT companies stocks will go up first. Thereafter we can see the chances of second rung stock prices going up.

[04:50:27 PM] => Anita : What are your preferred investment sectors in the current market conditions?
[04:50:46 PM] => UR : Cement ,pharma and old economy stocks may do well.

[04:52:17 PM] => Manish Desai : I want to ask about Flat product Limited Company. Company has High Book value, Promoter's holding is also high, Dividend paying company of 25%, Profitability is also too good. Why company's shares is not going up?
[04:53:42 PM] => UR : No comments.

[04:55:29 PM] => Dheeraj Lohia : What do you think about the prospects of Hindustan Sanitaryware. Should it be purchased at cmp of 34?
[04:55:41 PM] => UR : I can not offer my comments

[05:00:26 PM] => Gopi : What does canbank mutual funds offer new to the investor, I sit good for long term investing or short term?
[05:01:04 PM] => UR : Some of our Schemes are doing well say Cangilt(PGS) , Cancigo , Canpremium . One can look for these Schemes on merits.

[05:01:33 PM] => Gopi-25 : Is Canbank mutual funds profitable for a new investor like me?
[05:02:21 PM] => UR : No comments.

[05:03:11 PM] => Manoj : Do you think the private sector mutual funds are going to be adversely affected by the US-64 fiasco? What are your views on the future direction of the Indian Mutual Fund Industry?
[05:03:26 PM] => UR : Mutual Fund Industry has good growth prospects.
[05:03:51 PM] => Srivastava : When do you see the reversal in the US slowdown happening?
[05:04:41 PM] => UR : I am of the opinion that the US economy may take some more time to recover.

[05:05:51 PM] => Sapna : What are the views on the growth rates in the Indian economy going forward? What steps can revive the economy?
[05:06:15 PM] => UR : Indian economy may grow at the rate of 5-6%.

[05:08:05 PM] => Shalini : What are your views on the divergent trends between FIIs and Mutual Funds with respect to secondary market?
[05:10:52 PM] => FII continue to invest in the Indian market . Mutual Funds may be net sellers for the purpose of meeting redemption needs and for the purpose of booking profits.

[05:13:09 PM] => Ashutosh : What are the new schemes planned for launch in the current year?
[05:13:22 PM] => UR : We have plans to launch debt based Schemes besides Money market Schemes

[05:20:18 PM] => Myiris : Hold on friend, Mr Rao will be back in a moment

[05:31:41 PM] => bahvin_g: What does the future hold for the mutual fund industry after the UTI scam and most of the funds whose NAV are quoting at a discount.
[05:32:10 PM] => UR : UTI problem is only temporary and is being sorted out. Once the market picks up , the present problem of erosion in the NAV of the Scheme may also gets solved to a greater extent.

[05:32:40 PM] => Nilima: What future do you see for PSU sponsored funds after UTI crisis?
[05:33:09 PM] => UR : We are confident about the future as the growth prospects for the industry is very good.

[05:33:43 PM] => Sanjay: How long do you think we shall continue seeing huge inflows into debt funds? Are high returns by debt funds sustainable?
[05:34:17 PM] => UR : Since the yields are coming down , growth what has been seen now in the Gilt Schemes may not be sustainable. However if the fund is active in churning out the portfolio, still they can earn additional spread and reward the investors.Last three month was very good for the Gilt Schemes.

[05:34:41 PM] => Nilesh: Where do you see interest rates heading?
[05:35:50 PM] => UR : I am of the opinion that the interest rate may not come down in the short run though there are some indications in this regard. At the best the rate may stabilize at the current levels. However in the medium term to long term the rate may fall.

[05:36:11 PM] => Ashok: What factors do you look at while selecting scrips?
[05:36:59 PM] => UR : Promoters track record, Fundamentals of the stock are the prime considerations besides the growth prospects of the Industry vis-a-vis the company.

[05:38:13 PM] => Vij: Number of funds are tying up with post offices for distribution of their funds? What has been canbank's strategy?
[05:39:23 PM] => UR : We have 16 investor relations centres across the country to serve our investors (existing/potential)

[05:40:38 PM] => Jajoo: All Your ELSS schemes are in the negative since inception - even your one year returns are in the negative or just slightly positive. Don't you think that as a taxpayer I would have been better off paying my taxes and keeping it in an FD or debt mutual fund then investing with you?
[05:41:11 PM] => UR : In one or two ELSS Schemes there are historical problem of schemes being launched when the market was at its peak. Hence Schemes have suffered. On the long run Equity market has given better yield when compared to other tax saving instruments.

[05:42:28 PM] => Abhik: I shall like to know about the future plan of your fund?
[05:42:51 PM] => UR : We are planning to come to the market with debt schemes in the short run.

[05:43:36 PM] => Milima: Does the US -64 fiasco signal the end of assured return schemes? Will you ever launch an assured return scheme in the current scenario?
[05:44:22 PM] => UR : Now mutual Funds are not allowed to come with assured income Scheme. In case of assurance which is permitted only for the first one year as per SEBI Regulations only after complying with the Regulations. Assured income Schemes are the not the area meant for Mutual Funds.

[05:49:41 PM] => kaushik : What is the reason that investors prefer private sector mutual fund as compared to public sector mutual fund? Is it because of poor marketing?
[05:50:25 PM] => UR : May be true for the present. But the strength of the public sectors can not be ignored. It is a cyclic pattern. Trend may get reversed also.

[05:51:54 PM] => MAHARAJ79: By your answer on US 64 quote "matter is being sorted out". You mean to tell me that the every time a public sector institution like yourself goes BUST you need the government should BAIL you guys out- the Honest taxpayers money is used to Bail you MF managers wrong doings?
[05:52:13 PM] => UR : I said Sorted Out not Bail out.

[05:52:38 PM] => Vijayan: AS per a report in ET the government has only completed 36% of its borrowing for this fiscal quarter - how do you have the number of 60% - can someone give me facts.
[05:53:21 PM] => UR : Gross borrowings of Rs 61000 crore already mobilized out of the targetted around Rs.1,18,000 crore.

[05:53:41 PM] => John: What is your views on the impact pensions funds investing in capital market, if allowed ?
[05:54:03 PM] => UR : I am of the opinion that the we may have to wait for some more time for the market to stabilize and to mature.

[05:54:31 PM] => Mani: How do you compete with other funds when it comes to attracting talent - Pvt funds pay higher salaries and perks which is normally not the case with PSU's - how do I believe that my money if invested with you is getting or is being put to the best possible stock through the hands of a capable Fund Manager ?
[05:54:51 PM] => UR : Public sector still has competent and talented staff and are in a position to perform.

[05:55:08 PM] => Karuna: Your view on the economy - are we now finally into a recession?
[05:55:23 PM] => UR : I don’t think so

[05:56:49 PM] => Myiris: That's all we have time for in today's chat

[05:57:33 PM] => Myiris : Thank you all

[05:58:21 PM] => Don't forget to log on for the Friday's chat with Mr. Chintamani of moneypore.com

[05:59:11 PM] => Thank you once again and see you next time.