Dear Policy Holders,
My last advice in March '09 suggested you all to keep funds in 'Growth Fund' and 'Secured Fund' in ratio of 75 : 25.
Since Man Mohan govt is coming back to power the mood of market has changed for better.
Today has been a historic day in the sense that the trading had to be suspended due to Nifty and Sensex hitting circuit breakers on the upside twice, in the morning itself. Nifty closed at 4323 (+651) and Sensex at 14284 (+2110).
The application of circuit breakers on the upside have never been applied, however, when the NDA could not secure enough seats to come back to power in 2004, the markets had lost heavily. Over time the losses were made up. This time reverse is happening and in a manner that will put many to unintended or uncalled for losses whether a buyer or a seller.
You have now a very respectable level to get your funds parked in safety. You should be watching the markets till 2 PM tomorrow and if they are trading over today's closing, you should be switching funds entirely in to 'Defensive Fund'. This is for all classes of Policy Holders.
After the budget or even before, if there is a need, I would come back with fresh advice in light of new developments.
HariOm,
Krishna Kumar Khandelwal
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