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SIPs Are Like Marilyn Monroe: "If You Can't Handle Them At Their Worst...''

Back in 2012, I interviewed the late Parag Parikh when he was about to launch PPFAS Mutual Fund. Besides his contrarian investing style, the one thing that stood out about him was his refreshingly candid take on things. This was when mutual funds   were witnessing outflows for years and assets under management stood at a little over Rs 5 lakh crore - largely debt-oriented. When I asked him how he planned to garner investments at a time when mutual funds weren't in favour, he said: "By being on the side of the investor". He then pointed to a note he had gotten stamped on the physical prospectus of the AMC's inaugural equity fund that said: "Please do not invest in this fund if you can't remain invested for at least five years". I can't draw a straight line from the note to PPFAS' outperformance over the past decade, and the swelling of its assets. But surely, sobering investors' expectations when the temptation is to oversell helps attract...
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Union Minister Faces Police Case Over "Ravan" Jibe Against Ashok Gehot

A first information report (FIR) has been filed against Union Minister Gajendra Singh Shekhawat for his comment on Rajasthan Chief Minister Ashok Gehlot, which a local Congress leader said was derogatory.

Mr Shekhawat, during a BJP "mahaakrosh sabha" event in Chittorgarh on Thursday, had called Mr Gehlot "Ravan of politics", saying people should throw this government out in the upcoming assembly elections.

"If you want to end (the rule of) Ashok Gehlot, this Ravan of politics in Rajasthan, raise your hands and resolve to establish Ram Rajya in the state," the Union Minister had said.

Mr Gehlot and Mr Shekhawat have been at loggerheads over the Sanjivani Credit Cooperative Society scam.

Mr Gehlot has publicly accused Mr Shekhawat of being involved in the scam.

Mr Shekhawat has also filed a defamation case against Mr Gehlot in a Delhi court for linking him with the scam, which is being investigated by the Rajasthan Police. The investigators have said Sanjivani Credit Cooperative Society allegedly embezzled the earnings of lakhs of people in Rajasthan.

The local Congress leader, Surendra Singh Jadawat, filed the FIR with a police station in Chittor under several sections of the Indian Penal Code.

The Jodhpur bench of the Rajasthan High Court had paused Mr Shekhawat's arrest in connection with the scam recently.

Yesterday, the high court also took on record the clarification by the Ashok Gehlot government on calling Mr Shekhawat an accused in the case.

Responding to the Union Minister's jibe, Mr Gehlot yesterday said the Union Minister's friends are in jail in connection with the scam and Mr Shekhawat, too, is likely to go to prison. Mr Gehlot has asked the centre to sack him from the Union cabinet.

"If I am Ravan, you become Ram and return the investors' money," Mr Gehlot said.



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