Well Guys Yesterday(06-AUG-07) can be easily termed as the Red Letter Day in the History of BLASH Club as the BLASH club dream of launching a Mutual Fund finally came into place.
We can easily term this as a defining point ,cos when the FMC(Forward Market Commission) and the governmenet were mulling about ,if to allow Mutual funds and FII's into this commodities market we started our own Mutual fud.May be we can provide some inputs to FMC by the starting of NExt year.
I would like to thank all the Junior Batch Students ,who showed eager and enthusiasm to contribute to this mutual fund inspite of warnings by us that you should be willing to forgo all the money that you have given us (if they wanted extra ordinary results !!!)and even Our Strong statement "Weak Hearts get out of the system " didnot prevent them from contributing to this as people are more interested in leanrning through practical exposure.(I personally feel the best way to learn is to put in your money loose them and learn a lot.OFcourse some might disagree with it)
Well My Basic Aim of starting this Mutual fund was Last year on one day when i was watching CNBC there was news coverage about "SPJAIN students forming their own Mutual fund in Equity and earning some 30-40 % gains by the end of the year" THey invested around 30-40k and got some 40 % returns on those(Not sure of the exact figures) .It is then i decided that we should do something which gives more returns than SPJAIN fund and also in an unexplored territory,that prompted me to make elaborate plans to invest in this Mutual fund.Hope by next January we and our college will be in Headlines for all the Right Reasons.......
Regarding the fund :
Well the total investment of the fund is around Rs 25000.Minimum contribution required for this was Rs 250 andif you are a strong hearted person then mulitples of 250.I collected around 11k from around 24-25 odd ppl ( some ppl contributing 1000 rs)and the rest of 14k was pumped in from My pocket.To make this fund more interactive and provide more practical exposure to the students ,we modified the functioning of this fund to include various typical equity market transactions like IPO Listing gains,Follow on Public Issue,Preferential Shares and selling and buying in Secondary Market,Dividiends in the form of Cash or Some Trips to Aqautica/INOX or Some social service.
To make all the above functions work each and every stduent were given one unit of physical shares/units through which they can do secondary market transactions like buying and selling of those to poor souls who could not particiapte in the Initial offer.A picture of how the share looks is as follows.......
well during collection of funds my aim was to give them a listing gains of around 40 %(gain of Rs 100 on Rs 250)., though beofre the start of the meet of launchign this fund the returns were only Rs 70 on 250 but by the end of the 1 hr meet i found that the fund value is increased by 11o rs more than my expectation. Largely beacuse of with some assistance from SRI LORD Venkateshawara and the global rout of equities market affecting the "CRUDE OIl", which fell by around $3 on one day .LONG Live CRUDE OIL!!!!!!!!
Daily the NAV of the fund will be posted here in the afternoons around 1-2 pm and ppl can purchase or sell based on these prices.............
Hope this Mutual fund will acheive its dream of being relecasted in CNBC by the starting of next year.........Long live CRUDE OIL(This fund was basically designed to invest only in crude ,crude and crude oil))
Happy BLASH ING (Buy Low And Sell High )Guys
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