Silver ETF List

Silver Bull by Tim Ellis

After gold etfs and oil etfs, the next in line are silver etfs. Here is a list of silver ETFs that you can invest in.

Silver ETFs that Hold Physical Silver

iShares Silver Trust ETF (SLV): iShares Silver ETF holds physical silver and the price of the ETF reflects its silver holdings at any given time. Click here to read more about iShares SLV.

Silver ETFs that own Futures Contracts

Powershares DB Silver Fund (DBS): This ETF tracks the price of silver by investing in rule based index made up of future contracts on silver.
E-TRACS CMCI Silver Total Return (USV): This is an ETN and tracks the UBS Bloomberg CMCI Silver Total Return index. The E-TRACS (USV) ETN will track the price of silver. To read more about ETNs, click here.

Double Silver ETFs

Proshares Ultra Silver ETF (AGQ): Proshares Utra Silver seeks daily returns, which are 200% of the daily price of silver. Daily returns mean increased volatility and it means that over the long run, the fund has a good chance of not moving twice as much as the price of silver.

Short Silver ETFs

Proshares Ultra Short Silver ETF (ZSL): Proshares Ultra short silver seeks daily returns, which are 200% of the opposite of the daily returns of silver price. This means that the fund goes up, when silver goes down and vice – versa. This fund also seeks daily returns which make it more volatile and over the long run, it may not move in tandem with the reverse of silver prices.

Economy and your Finances Carnival- June 21, 2009

Venice Carnival Masks by Crystian Cruz

The carnival has been getting more and more entries, and although it has become a lot more time consuming than I had originally thought it would be, I enjoy reading the entries too much to stop.

I get an email when someone submits an entry and it is at that time that I go and read the post. When I am putting up the carnival, I just go by memory and select the posts that I liked reading.

So, here you are with this week’s carnival. Have a great Sunday folks!

Debt

PFCreditCards presents Zero Balance Transfer Credit Card Offers posted at PF Credit Cards, saying, “0% balance transfer credit cards are a great way to free interest and excel your way back to become debt free. Here are two options you should consider.”

Patrick @ Cash Money Life presents Best Zero Percent Balance Transfer Credit Cards posted at Cash Money Life, saying, “Make or save money with a 0% balance transfer credit card offer.”

Silicon Valley Blogger presents myFICO To Drop Experian Credit Score and Report: One Less FICO Score posted at The Digerati Life

MoneyNing presents Multiple Ways to Skin Zero Balance Transfer Credit Cards posted at Money Ning, saying, “0 balance transfer credit cards aren’t just for getting free money through online savings accounts! It really does help you pay off your debt quicker!”

Four Pillars presents Dave Ramsey Debt Snowball Method Of Debt Repayment posted at Quest For Four Pillars, saying, “An indepth look at the Dave Ramsey snowball debt method.”

Economics

Gavin R. Putland presents From the subprime to the terrigenous: Recession begins at home posted at LVRG Blog, saying, “The Great Recession was not entirely Made In USA.”

nissim ziv presents How to Negotiate a Job Offer: Salary Negotiations tips posted at Job Interview Guide, saying, “Discussing the salary during an interview is quite complicated and intricate. This article suggests some salary negotiation tips before and after receiving the job offer”

Super Saver presents Next Generation Bailout Acronyms posted at My Wealth Builder.

BankMan presents Ten banks paying back TARP early posted at High Yield Savings Accounts, saying, “Ten banks paying back TARP early – which should free up more money for loans to people and businesses.”

Len Penzo presents 18 Crazy Things You Didn’t Know About the National Debt posted at Len Penzo . Com.

Susan Saverton presents Living Expense Tracking Methods posted at Pasadena Financial Planner, saying, “If you do not understand how much you spend and how much you are saving and investing, you simply do not have a financial plan. This situation dramatically increases your familyâ€™s long-term financial risk.”

Investments

Mark Wolfinger presents Options for Rookies: Covered Straddles posted at Options for Rookies

Investing School presents A Great Inflation Indicator posted at Investing School, saying, “Here’s a seldom talked about but great inflation indicator. Check out the video.”

ABC presents Safe withdrawal rate for retirement funds – 4% rule posted at ABCs of Investing, saying, “How much can you withdraw from your portfolio in retirement? The 4% safe withdrawal rule explained.”

Kristjan presents Long Term Investing Is NOT Dead posted at Personal Development for Awesome People.

Gerald Connor presents Investing Wisely on Capitola Beach Homes; Capitola California posted at Capitola Beach Homes.

Dividend Tree presents Microsoft – Brankrupt of New Ideas? posted at Dividend Tree, saying, “Microsoft has loads of cash, and it continues to generate lots of cash. But it only knows how to waste it. It is for these reasons I am wary of considering it a potential dividend growth company”

Patrick @ Military Money presents Tax Advantages of 529 Plans posted at Military Finance Network, saying, “Tax advantages for the 529 College Savings plan.”

The Smarter Wallet presents Fibonacci Retracement: A Technical Stock Tool To Predict Market Direction posted at The Smarter Wallet,

Zach Scheidt presents Aggressive Move puts BlackRock in ETF Business posted at ZachStocks, saying, “BlackRock, Inc. (BLK) has agreed to purchase the Barclays division which controls iShares for $13.5 billion. The deal could change the landscape for individual and institiutional investors.”

Puneet Kapoor presents THE CHICKEN HAVE COME HOME TO ROOST posted at KuberKhana -Indian Stock Fundamental Analysis, saying, “Why are the simple things in life, so difficult to see.”

Kim Greenblatt presents Keep Depression Start Up Costs Low posted at profitable, saying, “When investing in your own business, especially in this Depression, you need to watch what you are spending. You can make a business work as in the example in the article. Thanks for taking the time to read this! Kim Isaac Greenblatt”

Jeff Rose presents Whatâ€™s in a Number? Choosing a Withdrawal Rate for Your Retirement Assets posted at Jeff Rose.

Paul Riccola presents How To Find A FInancial Professional | Money Manager posted at Money Manager.

Personal Finance

The Dough Roller presents 0% APR Balance Transfer for 12 Months posted at The Dough Roller, saying, “While balance transfer offers are fast disappearing, here is on of the last remaining 12-month 0% APR balance transfer deals left.”

Nash Dadameah presents Investment-Linked Insurance â€“ the best of both worlds posted at nil2million.com, saying, “This is an introduction to Investment-Linked Insurance. It is a popular life insurance where you can invest and get protection (insurance) at the same time.”

Renee V. Rouse presents Frugal-Living-Skills Blog: Family Meals for Under $5 – Tater Tot Casserole posted at Frugal-Living-Skills Blog, saying, “”…Weekly grocery circulars often read â€œfeed a family of 4 for under $10!â€. Iâ€™m sure most of you have laughed at this as I did. As a result, I began to wonder what does dinner really cost for my family of 8? So I set a challenge for myself and I figured if I kept it under $5, I was doing good…””

SpendOnLife.com presents Weird Credit Card Trend: More Defaults, Fewer Delinquencies posted at SpendOnLife, saying, “Comments on credit card default and delinquency trends.”

Relax presents Do we have to worry about inflation? posted at The Wise Curve, saying, “What if a hamburger costs about 20 Euro?”

Wren Caulfield presents Safety First: Bike Safety for Commuters posted at True Adventures in Money Hacking, saying, “Save money and the planet–commute by bike!”

Lazy Man and Money presents SEP IRA: Self-Employed Retirement Plans posted at Lazy Man and Money.

Patricia Turner presents 100 Awesome Grocery Tricks for a Healthy Home and Wallet posted at Becoming A Radiologist.

Credit Shout presents Good Debt vs Bad Debt posted at CreditShout.

Patricia Turner presents How to Become a Good Court Reporter posted at Court Reporter Schools.

Tiffany Colter presents Time for Personal Responsibility posted at Hidden Leaks, saying, “Find out how taking responsibility in your personal finances impacts the economy and your life for the better!”

Abigail Perry presents Mixed marriages: When savers and spenders unite posted at i pick up pennies, saying, “How to reconcile partners’ different financial priorities and goals.”

Noload Bonds presents Bond Mutual Fund Fees posted at Bond Market Index Funds, saying, “Simply put, if you pay higher bond mutual fund fees, then these bond management expenses tend just to be a deadweight loss to you. The best bond fund buying strategy is to pick only very low-cost no load bond funds.”

Leave Debt Behind presents How to Develop Budgeting for The Family Vacation posted at Leave Debt Behind.

Ben presents Stock Dividends 101 posted at Money Smart Life.

Matthew Paulson presents How to Develop a Plan to Repay your Credit Card Debt posted at American Consumer News.

Debt Freedom Fighter presents Increase Your Savings with 5 Simple Tips posted at Discover Debt Freedom!.

Alvina Lopez presents 100 Useful Research Tools for Amateur Economists posted at Rated Colleges.

Deposit Accounts presents Don’t Forget to Plan for Windfall Money posted at Deposit Accounts.

Tushar Mathur presents When It Pays To Use Cash For Purchases posted at Everything Finance, saying, “For years there have been many consumers who have charged through life (pun intended) putting any and all expenses on their trusty credit card. Roughly half of those consumers managed their accounts responsibly and benefited from the many perks associated with using their credit card and paying the balance in full each month. The other half….well many of those people are dealing with the fall out from the economy and struggling with high levels of debt.”

Britannica Blog presents Dayton, Ohio: Final Fortune 500 Company Abandons City posted at Britannica Blog, saying, “At the turn of the last century, Dayton, Ohio, was something akin to the Silicon Valley of its day. It was the home to the Wright brothers, of course, as well as Charles Kettering, the automotive genius who would develop so many innovations that allowed General Motors to become the dominant player in a new industry. And the backbone of all this was the National Cash Register Co. (NCR), founded by John Henry Patterson.”

kathryn presents Finding Affordable Health Insurance posted at Out of Debt Christian, saying, “Health insurance has been making the news a lot since Obama became President. There is concern for those families (particularly children) that are currently living without health insurance because of the rising costs. The good news is that you can still find affordable health insurance if you take a little time to look around.”

Pankaj Gupta presents How to Get a Free Business Degree? (with Open Courseware) posted at Best online accounting degrees.

Chris McClelland presents Tighter Credit Permanent? posted at Lucrative Investing.

Stocks

Top 10 Index Funds presents Top 10 S and P 500 Index Funds posted at NO LOAD INDEX FUND, saying, “Buy these top 10 very low cost no load S&P 500 index mutual funds directly. You do not have to pay the heavy added expenses of buying through a stock broker, financial adviser, investment adviser, or investment counselor.”

That concludes this edition. Submit your blog article to the next edition of the carnival using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Interesting Reads: 20 June 2009

I played Chess in my college team for a year, and one of the most annoying things I encountered was that some people started walking around in the middle of a game.

Some players just start walking around in the middle of the game. It’s annoying because they are telling you that they don’t even need to be on the board all the time to beat you. Only the good players do this because if you lose doing this, you look really silly. It’s really annoyingÂ because most of these guys end up winning too.

I spend a lot of my free time playing chess on instantchess.com. One of the better things about playing online chess is that people can’t walk around when you are playing with them.

But, they do allow chat and so a lot of players try to get under your skin by calling you a “loser”, telling you its a “fluke”, but none till now, had found the virtual equivalent of walking. But, yesterday one guy told me that he was playing, responding to emails and watching YouTube at the same time!

That was quite something and I felt really happy that people were adapting so well to the online world in everything they do.

On to the blogosphere and the interesting reads I found last week.

Links

How’d they get too big to fail in the first place by The Reformed Broker

Cramer doesn’t get the UNG by FT Alphaville

Your FICO Credit Score Information by The Digerati Life

China hectors US again re the dollar by Naked Capitalism

Et tu Schwab by Matthew Goldstein

TARP for regulators by Baseline Scenario

Cash for clunkers by Consumerism Commentary

Weighing health insurance costs by Dough Roller

Lehman v. Barclays v.Â Any Sense of Perspective or Shame by Bad Money Advice

Index Mutual Funds vs Exchange Traded Funds by Five Cent Nickel

Home valuation websites vs Actual Appraisal by The Finance Buff

A retirement planning calculator needs to know your life expectancy by Vilkri

Carnivals

Money Hacks Carnival

Carnival of Debt Reduction

Reverse Converts Ignites the Blogosphere

On Tuesday, Felix Salmon wrote about the reverse convert scam, commenting on this story in the Wall Street Journal.

The story is about a complicated financial product, which is sold like a bond instrument, but is more like a Put option.

If I understand the product (reverse converts) correctly, it offers you a fixed coupon payment, provided the price of an underlying stock stays above a certain price. But, if the price of the underlying stock goes down below a certain threshold, you are stuck with the stock.

The WSJ story, talks about an 85 year old radiologist who lost 20% of his money in the reverse converts sold to him by Citi, and complained against Citi, when he was left holding stock of Yahoo, Hess, Cemex and Sandisk, which were worth $75,000 less than what he had invested.

He said he had no idea that he could be left holding these stocks and says his broker talked him into shifting his money from preferred stocks into reverse converts.

The blogosphere was indignant with this story and Salmon’s post generated quite a bit of buzz. James Kwak picks it up here and asks (quite rightly):

“What the hell is the point of this product?”

Then Mike at Rortybomb explains the fail of reverse converts in detail and explains a quite a lot of fails of the product in his post.

On the other hand, there are two posts that defend reverse converts, here and here.

Reading through the comments on these posts and the posts that defend reverse converts, it seems to me that the primary defense of reverse converts is that they are sold to smart people with plenty of money, so if these smart guys can’t protect themselves, it’s their fault for getting screwed.

The WSJ story featured a Radiologist and surely he must be smart enough to understand what he is getting into.

I don’t think that is a fair assumption.

A Radiologist must be a really smart and educated person, but why should he be expected to research a complicated financial product and be expected to understand what an embedded put is, or what its right price is? Especially, when the broker is calling it a bond and all the features and sales pitch are aimed at making it sound like a bond.

How would a broker like to die of radiation because a radiologist used a machine, which had a rare chance of killing someone during an X-Ray?

I assume brokers (like the rest of us) assume that X-Rays are safe and don’t ask questions about it before getting one. And, hey, if you didn’t ask, it’s your fault that you are dead.

The point is that on a typical day, there are several people who have the opportunity to screw you, and if you have to run background checks on each of them, nothing will ever get done.

Mahindra Holidays and Resorts IPO

Mahindra Holidays and Resorts IPO is going to open on June 23, 2009 and close on June 26, 2009. The price band of the IPO is between Rs. 275 to Rs.325. At this price level, the P/E Multiple of FY – 10 comes out between 23 – 27.

Fitch has rated the IPO 4 out 5 with 5 being the highest rating.

Business of Mahindra Holidays and Resorts

Mahindra Holidays and Resorts India Ltd. are in the business of leisure hospitality services in India and have the flagship service offering Club Mahindra Holidays.

They offer innovative services in the Indian holiday market which is known as vacation ownership memberships.

Club Mahindra Holiday Vacations

People can take membership of this scheme and members can choose to holiday in any of the predetermined resorts for a fixed number of days in a year for a fixed number of years. Currently Club Mahindra entitles its members to holiday in one of 23 resorts for seven days in a year, in the choice of the member’s season, and apartment style; for a period of 25 years.

While this is a relatively new service offering in the Indian markets as of May 31 2009, there were 91,997 members for Club Mahindra Holidays Vacation.

Zest

Other than Club Mahindra; the company launched Zest in November 2006 which is targeted at young urban families looking for small breaks. Zest members get an option to choose between 5 resorts, for 6 days each year, for a period of 10 years.

Club Mahindra Fundays

Club Mahindra Fundays was launched by the company in October 2006 and is targeted at corporate houses.

The membership in Club Mahindra Fundays entitles a company to send its employees on family holidays for a period of ten years.

Clubmahindra.travel

The company also launched clubmahindra.travel in April 2007 which is a one stop shop for travel and travel related holidays.

Mahindra Homestays

Homestays is a novel concept for the Indian market. It means that instead of staying in a hotel, you live with a host family. There will be comforts like ones in hotels, but, the core idea revolves around living in a house with a host family instead of a hotel.

This business model is different from traditional hotel business in the sense that the members pay an upfront fee and then an annual subscription. In return, they get to pick and choose between certain options and then stay there by paying additional cost for services and facilities. If you were a customer of a hotel, you will have to book a hotel and then pay for its stay every time. This is a relatively novel concept in India and Mahindra is the market leader in it, with a total of 72% of the total active membership in the vacation ownership industry. This number has grown at a CAGR of 32% over the last 3 years and they have been able to increase the price at a CAGR of 13.18% over the last three years too.

Mahindra Holidays and Resorts also have a fully integrated business model, where they market and promote their services, manage their resorts and also build them.

Financials of Mahindra Holidays and Resorts

The total revenues were Rs.442.12 crores for the year ended March 31, 2009 and grew from Rs.377.19 crores the year before and Rs.241.29 crores, the year before.

The net profit for the last three years was Rs. 79.80 crores, 84.03 crores and 42.52 crores. Mahindra Holidays also had a positive cash flow from operating activities, which is always a healthy sign. Simply, put – it made more money from running its business than spending it in the last five years. Mahindra Holidays generated Rs.158.36 crores from operating activities in 2009, 46.56 crores in 2008 and 69.05 crores in 2007.

The net worth of Mahindra Holidays was Rs.195.80 crores on March 31, 2009 and that comes down to Rs.24.99 per share. It’s also interesting to note that the cost of the share to the promoters is Rs. 4.12 per share.

Risks related to Mahindra Holidays and Resorts IPO

5 out of 8 directors have litigation pending against them. On top of the litigations against the directors, there are litigations against the company for their resort in Munnar, Income Tax proceedings, Consumer Complaints and Luxury tax proceeding.

Objectives of the IPO

Mahindra Holidays and Resorts is coming up with an IPO to raise funds for expansion of their existing resorts and setting up new projects. Here is a break-up of the resorts on which they intend to use the funding:

Ashtamudi (Kerala): 36.80 crores (existing)

Coorg (Karnataka): 16.31 crores (existing)

Ooty (Ooty Town): 12.17 crores (existing)

Tungi (Himachal Pradesh): 96.96 crores (new)

Theog (Maharashtra): 74.65 crores (new)

Conclusion

Mahindra Holidays and Resorts is one of the better IPOs to hit the market. It is in a growing sector with a novel concept and is a market leader in which it operates. If the IPO is reasonably priced, it can be a good pick in a portfolio of the long – term investor.

Disclaimer: This is not a buy or sell recommendation for this stock, just a summary of the business and my personal thoughts on it. If you are planning to buy or sell, please take advice specific to your financial situation and portfolio.

iShares Dow Jones EPAC Select Dividend Index: IDV

iShares Dow Jones EPAC Select Dividend Index (IDV) is a relatively smaller ETF with just $47.26 million of assets under management. As the name suggests it tracks an index that is based on high dividend yield stocks. It is invested in stocks that are outside US and are primarily present in Australia, UK and Hong – Kong.

The EPAC in the name stands for Europe, Pacific, Asia and Canada. This index tracks high – dividend yield stocks in the developed world excluding US.

This means that the iShares IDV ETF holds stocks in currencies other than the USD and the investors do face currency risks along with the other usual risks while investing in equities.

The iShares IDV ETF is a passive investment vehicle, which means that it aims to track the performance of the underlying index by staying invested in its stocks.

The iShares IDV Dow Jones ETF has an expense ratio of 0.50%. It holds 98 stocks and has a P/E ratio of 8.58.

The fund has returned -39.23% since inception and the reason for that is the index is heavily weighted towards financials.

Here is a look at the top holdings of iShares IDV Dow Jones ETF:

Sector Breakup

Financials: 27.67%

Industrials: 19.15%

Consumer Services: 15.96%

Basic Materials: 9.93%

Oil & Gas: 9.87%

Telecommunications: 4.43%

Consumer Goods: 4.19%

Utilities: 4.10%

Technology: 3.68%

S-T Securities: 0.04%

Among the sectors, here is a list of the top stock holdings.

Top Stock Holdings

Commonwealth Bank of Australia: 4.26%

Vtech Holdings Ltd: 3.47%

Incitec Pivot Ltd: 3.27%

Providential Financial Plc: 3.18%

Wesfarmers Ltd: 3.04%

ENI SPA: 2.82%

PPR: 2.67%

Westpac Banking Group: 2.17%

Close Brothers PLC: 2.08%

Holdings by Country

Australia: 29.90%

United Kingdom: 14.64%

Hong Kong: 10.33%

Finland: 7.99%

Singapore: 6.40%

France: 6.37%

Italy: 6.14%

Source: iShares Fact Sheet

Am I a crook?

Car Crash by Ian Hampton

I am selling you my used car and so far you like it very much. You take it for a test drive, show it to your mechanic, and no problems there. I am asking a reasonable price for it and you are thinking about bargaining, but don’t want to let go of the deal for a few hundred bucks.

We are very close to closing the deal and I know it.

You casually ask me what I do and I tell you that I am a car mechanic. You are a little curious now and ask me where I got this car from.

I tell you that it was sold to me by someone who was in a car crash. That guy took this car to me for repair, and when I told him how much it would cost to repair it, he asked me if would I buy it from him.

I named a price and he willingly took it. He didn’t report it to his insurance and the damage doesn’t appear on the Carfax report or anywhere else. In short, there is no way for you to know about the accident.

Then I go ahead and show you the picture of the car as it was before I repaired it, and also explain to you in great detail the parts I changed and the damage that the car took. There was no engine damage but the car took quite a lot of body work to come to its current shape.

I am working on the doctrine of Caveat Emptor, which is Latin for – Let the buyer beware. I am not actively concealing anything from you and in fact I go to great lengths to explain to you what I know about the car.

But if you hadn’t asked, I wouldn’t have told.

Am I a crook?

The decision to not act

Indecision by Xurri

Mark at Options for Rookies says:

“If you have a profit, that profit is yours.Â It does not belong to ‘the house.’Â If the investment turns against you, and your $1,000 profit becomes a $600 profit, you lost $400.

I can hear the disbelief now.Â “How can I have lost $400 when I earned a $600 profit?”…. Holding is a decision.Â It’s a decision not to act.Â Because you can exit the trade at it’s current price, that price represent the value of your trade.Â This is marking to the market.”

I believe this to be true, but I have always had difficulty in practicing this. I think I have not been able to practice it because of two reasons:

Greed: When I am sitting on a big profit, my thoughts have nothing to do with booking that profit, instead, I day dream about how much further it will grow. When it’s a thousand, I think it’s only a matter of time till it goes to a couple of thousand, and then I will act. When it reaches two thousand, I wait till three and so on. Eventually, the profit starts coming down, and somewhere along the fall; reality hits. And I sell. I sell at a profit, but as Mark says — it’s really a loss.
Cushion: Green is a wonderful color. When I see my portfolio in the green, I don’t worry about it too much. It makes me complacent and a little lazy. There is a sort of mental cushion that makes me feel relaxed and it works against taking any action. While one part of me tells me that the stock is going to go up, the other part reinforces that feeling by saying that even if it goes down a few points, you still have cushion.

These two forces act together against booking profits.

There is a simple thing that I do to counter these forces somewhat. It’s called partial profit booking and I am sure everyone has heard of it. I sell half of my stock, when it doubles in price. That way, at least I have recovered my cost, and even if the stock price goes down, my brilliant green doesn’t turn into a bloody red.

This means that at many times I have not been able to take full advantage of a soaring stock, which triples or quadruples, but I have felt that it is better than doing nothing. I don’t do it always, especially with the stocks that I bought at the time of market crashes, and which I think were very cheap when I bought them.

It’s all quite subjective, so what’s good for me may not be good for you, but the central idea is that:

“Holding is a decision.Â It’s a decision not to act.”

This is something that not many people think about and it’s a thought, worth a serious thought.

ChexSystem for bank accounts

I came across information about ChexSystem via The Dough Roller.

From DR:

Have you ever been turned down for a checking account? While denials are more common when applying for credit, you can also be declined when applying for a bank account. If you have been declined, it’s likely due to a reporting agency that many have never heard of, but who has a lot of information about and influence over banking customers. It’s called ChexSystems.

Most have heard of the three major credit reporting agencies–Experian, Trans Union, and Equifax. But there is a lessor known but equally important reporting agency for checking accounts called ChexSystems. Run by Chex Systems, Inc., ChexSystems provides account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by them or their bank).

Check out the link for more info about ChexSystem.

Here is something useful from their FAQ:

How can I opt-out of pre-screened offers of credit?

Under the federal Fair Credit Reporting Act (FCRA), consumer credit reporting agencies are permitted to include your name on lists used by creditors or insurers to make “pre-screened” offers of credit or insurance that are not initiated by you. The FCRA also provides you the right to “Opt-Out”, which prevents consumer credit reporting agencies from providing your credit file information for “pre-screened” offers. If you choose to opt-out, your name and address will be removed from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1-888-5 OPTOUT (1-888-567-8688). You may opt-out with ChexSystems at 1-877-OPTOUT 5 (1-877-678-6885).

How to invest in Reliance Infrastructure NFO using ICICI Direct?

The minimum amount that you can invest in the Reliance Infrastructure Fund is Rs.5,000, so first make sure that you have allocated that much to your mutual funds.

To do that, login to your account, click on Equity –> Modify Allocation.

After that, add funds in the third row – “Mutual Funds, IPO, Tax, Insurance & Others”. You can do this by entering the amount you wish to invest in the “Amount” text box. After entering the amount, click on “Submit”.

You will see the message – “Your Allocation is Complete”.

Now click on Mutual Funds –> FMP / NFO

Now, based on your preference, you can select the Dividend or the Growth Plan and select on Purchase or SIP. If you want to set up a Systematic Investment Plan, click on SIP.

When you click on SIP, the following screen will appear and you can enter in the months you want to set this up for and the amount for that. After entering the amount, click on “Proceed for Confirmation” button and on the next screen confirm your transaction. The next screen also gives you an option to modify or confirm your transaction. These are the steps you need to take if you want to invest in the Reliance Infrastructure NFO using ICICI Direct. If you want to read about the details of this NFO, click here.

Disclosure: I will not be applying for this mutual fund.

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