Prajna Capital

Sundaram Debt Fund Dividend
Trading in Derivatives
ICICI Bank iMobile

Posted: 21 Jun 2016 08:00 AM PDT

Trustee of Sundaram Mutual Fund has declared dividend of 0.15 paisa per unit on the face value of Rs.10/- per unit on the record date of June 21, 2016 under the dividend option of the following schemes. Dividend declaration details are as under:

Scheme Name	Plan - Option	Record Date	Dividend Rs. per unit
Sundaram Income Plus	Regular Plan - Quarterly Dividend	June 21, 2016	0.15
Sundaram Money Fund	Direct Plan - Quarterly Dividend Reinvestment Option
	Retail Plan - Quarterly Dividend Reinvestment
	Regular Plan – Quarterly Dividend Reinvestment
Sundaram Banking and PSU	Regular Plan - Quarterly Dividend
Sundaram Flexible Fund Flexible Income Plan	Regular Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Aggressive	Regular Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Aggressive	Direct Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Conservative	Regular Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Conservative	Direct Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Moderate	Regular Plan - Quarterly Dividend
Sundaram Monthly Income Plan –Moderate	Direct Plan - Quarterly Dividend
Sundaram Select Debt Short Term Asset Plan	Regular Plan - Quarterly Dividend
Sundaram Select Debt Short Term Asset Plan	Direct Plan - Quarterly Dividend
Sundaram Ultra Short Term Fund	Retail Plan - Quarterly Dividend
	Regular Plan - Quarterly Dividend
	Direct Plan - Quarterly Dividend
Sundaram Bond Saver	Regular Plan - Quarterly Dividend
Sundaram Bond Saver	Direct Plan - Quarterly Dividend

The above dividend will be subject to the availability of distributable surplus in the respective plan-option of the scheme(s) on the record date. Past performance may or may not be sustained in future.

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Trading in Derivatives

Posted: 21 Jun 2016 05:02 AM PDT

1. What are the risks of trading in derivatives?

For the uniniti ated, it could lead to heavy losses in a short span, frightening the investor away from the stock market forever.

2. How is that ?

Since they are leveraged, deriv atives carry a high risk. Say you put up a 20% margin to trade ABC stock futures.

ABC is priced at `180 and has a lot size of 2,000 shares. The value of the contract is `3.6 lakh. You put up 20% to trade or `72,000. If on the next day ABC falls to `175, the mark-to-market loss will be `10,000. In fact, last year, market regulator Sebi raised the minimum lot size on Nifty to `5 lakh from `2 lakh to dissuade retail investors from playing in the de rivatives segment.

3. Are options safer?

They are safer than futures on stocks and indices to the extent that losses are limited to the premia (price) paid to the option sellers.But the risk is high as few investors are really aware of factors influencing an option's price. The Black-Scholes model used to determine an option's price, has a component called `delta' -change in an option's price with reference to the change in an underlier's price. For instance, if a call option has a delta of 0.2 and the price of a stock rises by `1, the option price will rise by 20 paise. Also, theta or time to expiry plays an important role in determining option price movement.Closer to expiry , an option's value gets eroded by time.

4. Don't be an unwitting victim...

Sometimes, an experienced op tion buyer might be hedging her option purchase by either shorting or going long a stock futures contract, called delta hedging. This might give the uninitiated a false impression of interest to long or short building up in a particular counter. There are a myriad other risks. For example, you see huge open interest in say Nifty call at 7900. That may impress you that Nifty would easily break that level. But in reality the sellers, who usually are wealthier and more astute than buyers, would be selling 7900 calls in the firm belief that the index won't cross that level. They can usually sway counters in their favour which causes huge losses to buyers.

5. Who are the main players?

HNI clients and prop brokers are net sellers of index puts to FPIs.

They are normally net long index futures and net buyers of calls, depending on market direction. FPIs are normally net buyers of index puts and depending on their mood they either net buy or sell calls and index futures.

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ICICI Bank iMobile

Posted: 20 Jun 2016 11:45 PM PDT

ICICI Bank has added five new features on its mobile banking app, `iMobile', tak ing the total number of services that users can avail of to over 150. Customers will now be able to make instant tax payments, book rail tickets, add an extra layer of security to their cheque-based transactions, apply for a personalised debit card and purchase travel and motor insurance, and mutual funds through the app.