Best Mutual Fund Advice For NRI’s

A Mutual Fund is a professionally managed type of collective instrument that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.

Mutual funds invest according to the underlying investment objective as specified at the time of launching a scheme. So, we have equity funds, debt funds, gilt funds and many others that cater to the different needs of the investor. The availability of these options makes them a good option.

While equity funds can be as risky as the stock markets themselves, debt funds offer the kind of security that is aimed for at the time of making investments. Money market funds offer the liquidity that is desired by big investors who wish to park surplus funds for very short-term periods.

Balance Funds offer investors having an appetite for risk greater than the debt funds but less than the equity funds. The only pertinent factor here is that the fund has to be selected keeping the risk profile of the investor in mind because the products listed above have different risks associated with them.

So, while equity funds are a good bet for a long term, they may not find favour with corporate or High Networth Individuals (HNIs) who have short-term needs.

Diversification

Investments are spread across a wide cross-section of industries and sectors and so the risk is reduced. Diversification reduces the risk because all stocks don’t move in the same direction at the same time. One can achieve this diversification through a Mutual Fund with far less money than one can on his own.

Professional Management

Mutual Funds employ the services of skilled professionals who have years of experience to back them up. They use intensive research techniques to analyze each investment option for the potential of returns along with their risk levels to come up with the figures for performance that determine the suitability of any potential investment.

Potential of Returns

Returns in the mutual funds are generally better than any other option in any other avenue over a reasonable period of time. People can pick their investment horizon and stay put in the chosen fund for the duration. Equity funds can outperform most other investments over long periods by placing long-term calls on fundamentally good stocks. The debt funds too will outperform other options such as banks. Though they are affected by the interest rate risk in general, the returns generated are more as they pick securities with different duration that have different yields and so are able to increase the overall returns from the portfolio.

Liquidity

Fixed deposits with companies or in banks are usually not withdrawn premature because there is a penal clause attached to it. The investors can withdraw or redeem money at the Net Asset Value related prices in the open-end schemes. In closed-end schemes, the units can be transacted at the prevailing market price on a stock exchange. Mutual funds also provide the facility of direct repurchase at NAV related prices. The market prices of these schemes are dependent on the NAVs of funds and may trade at more than NAV (known as Premium) or less than NAV (known as Discount) depending on the expected future trend of NAV which in turn is linked to general market conditions. Bullish market may result in schemes trading at Premium while in bearish markets the funds usually trade at Discount. This means that the money can be withdrawn anytime, without much reduction in yield. Some mutual funds however, charge exit loads for withdrawals.

All said and done, Mutual Funders! It is the right way to maximize sizable returns from a medium to long-term stand point. Rather than parking one’s money in Fixed Deposits, invest in Equities through professional Financial Managers to get decent returns, as equities as an asset class reward you more in the long run. Remember Mutual Fund Investments are subject to market risks. Please read the offer document carefully before investing.

Ripples: Kalpana Shah brought to you by western union

Western Union is a proud sponsor of NetIP’s stories of Cultural Heritage, Drops. Ripples. Waves. Join us at the NetIP Annual conference in Washington DC over labor day to celebrate your heritage.

 Written By Renita Bakshi

I have fond memories of walking the local park with my family and catching my mom stopping when she would see a plane fly by in the distance.

I never really understood her fascination with planes. What was the big deal? We had flown to numerous destinations on both international and domestic trips. 

In our world today, flying to destinations thousands and thousands of miles away is pretty ordinary. However, about thirty years ago, flying 7,807 miles from Mumbai to New York, let alone for an eighteen- year old girl, was quite extraordinary.

Even more so for someone who had made the journey all alone to start a new life.

My mother hails from the Marwari community in Sirohi, Rajastan. Thirty years ago, the norm was that girls would study until about the tenth grade and then they would start their married life. More emphasis was placed on household chores and being a good wife than on education.

My mother was different, she always foresaw a world beyond that norm where she would create an identity of her own. My mother insisted on studying beyond the tenth grade and she did. However, when she was seventeen, her father had died abruptly and she was being forced to marry against her will by her relatives.  She had to overcome resistance with her extended family to come to America as girls did not leave the house without being married. My grandfather’s friend was in US and he helped my mother to get a visa and come to America.

My mother was the first to come to America from her village in Rajastan. At the time, the whole entire village criticized her for challenging village traditions. However, later she paved the way for many others to change their destiny and make the journey to America to a life of autonomy.  

When she came to America, she worked various full time odd jobs and studied at night as she was determined to become a professional. She studied at New York University and eventually became a Software Engineer.  

While my mother worked and pursued her education, she also had to support her family back in India as she had to fulfill her duty as the oldest child in the family.  My mother sent money every month so that both of her younger brothers could continue their education. Furthermore, she brought my grandmother and my two uncles to America as well and assisted them in settling here.   

Today, my mother is used as an example in her village. Every child knows her story and she has become a sort of an idol. Every time I go back, I experience a strong sense of pride in my mother’s accomplishment. I see where she came from and where we live today.

Many of the people still just dream of flying on a plane and many of the girls are still married really young. However, my mother’s bold step out has impacted and changed not only her destiny but mine as well. I am free to pursue any dream that I desire. Nothing ever seems impossible just as long as there is determination. Whenever I travel to see the world, I feel humbled and privileged because I know that my mother has come a long way.

Ripples – Daljinder Singh brought to you by western union

Western Union is a proud sponsor of NetIP’s stories of Cultural Heritage, Drops. Ripples. Waves. Join us at the NetIP Annual conference in Washington DC over labor day to celebrate your heritage.

Written by Renita Bakshi

 1978 was a year where much in the world was changing.  Indira Gandhi was finally imprisoned for her wrongful doings during her self-declared Emergency Administration in India. Moreover in Iran, the country was experiencing the buds of what would become a revolution that would impact Iran for years to come.

Amidst all of this, my father’s world was also forever changing. At the time, what he merely thought was going to be an adventure, would alter the whole course and direction of his life.

In early 1978 my father, Daljinder Singh, was an avid 20-year-old tourism student at Delhi University.  While on a college trip to Ladakh, a northern region in Jammu Kashmir, he and four other classmates decided that they had greater feats to accomplish than the 380mile journey from Delhi to Ladakh on their motorbikes.

They wanted to set a world record and so they made a plan to embark on a 9000-mile expedition from Delhi to London and back to Delhi on their motorbikes.

The five friends created a travel plan, sought sponsors and submitted it to Delhi University. They were even supported by the External Ministry of Foreign Affairs in India. British Airways made banners that were posted all around Delhi to promote and support the students.

STIC Travels arranged a press conference to give them publicity. Escort provided the five students with three custom 90CC motorbikes (the smallest engine on the road at the time) with enlarged tanks for fuel. With barely $500 dollars each, the students set forth on their quest. They doubled up on the three motorbikes, and placed their luggage on the motorbike with the vacant spot. The whole city was excited about their adventure.

They started from Delhi University and continued through Amritsar, Punjab. However, Pakistan did not approve their visas so they had to fly to Kabul Afghanistan. The Indian government warned the adventurous young men that they had to check in at the Indian Consulate at every stop so that the government could monitor their safety and provide any further instructions as well as inform their families of their whereabouts.  

On their way to London, they made several stops, which included, Kandahar, Herat, Taybad, Babol, Istanbul, Athens, Belgrade, Frankfurt, and Holland. From Holland they went to London via ship with their motorbikes.  As they did not even know a soul in these foreign countries, they either stayed in Gurudwaras (the Sikh House of Worship), garages, the YMCA, or in the tent they lugged all the way from Delhi.

The journey was not as easy as they had expected. They had survived many life-threatening incidences.  For example, as they were passing by in Iran unaware of the political rift, a stranger pulled them into their garage and shut the door. The next thing they knew, gunshots were being fired.

It was a time of political unrest in Iran as an Islamic Republic was trying to rise to power.  In Germany, they were completely lost and could not find their way because of the language barrier, luckily a kind family gave them shelter and food. Moreover, many of the times the road conditions were extremely hazardous with narrow lanes and in some cases unpaved roads.

Once, one of the bikes almost derailed off a cliff. Furthermore, in one instance, one gentleman that was a vegetarian had to put his religious beliefs aside and eat meat because there was no food available in Afghanistan as the Russians were bombing the country. They miraculously survived and realized what did not kill them actually made them stronger.

In November 1978, the five young men arrived and thereafter, spent six months in London. They had wanted to return back to Delhi earlier but unfortunately, the Iran border had closed due to political unrest with the fall of the Shah of Iran.  The youngsters at this point were out of money and thus, they had to find work. They did anything and everything from painting houses to selling jeans in Piccadilly Cirus. 

During their stay in London, they resided at a Gurudwara in South Hall for thirteen days. Later, they met a very generous Indian fellow named, Jeevan Singh Dhillon, who let them stay for free in his house.  At the end, they gave him one of their motorbikes as a token of their appreciation and as an offering as Jeevan’s wife had birthed their first son. ( I was fortunate enough to meet Jeevan Singh Dhillon on a family visit to London)

One day, the Indian high Commissioner had invited them to his house for dinner impressed by their bold journey and questioned them about their stay as well as if they had any problems.  It was the first winter they had ever experienced and so they innocently stated that London was way too cold for them.

 That is all that it took for them to get a visa to the United States. The High Commissioner suggested that they go to America. The 1^st secretary Meera Kumar wrote a letter to the US Embassy and the five men were approved for a visa for America.  However, two decided to go back to India, as they were homesick and took the motorbikes with them. One went to California, and my father and his friend arrived in New York in April 1979.

In New York, my father stayed with his friend and friend’s relative, Bhushan Arora in Briarwood, New York. They found work at an Indian restaurant called, Tandoor, in Manhattan on 49^th street between Park and Madison. Bhushan was the manager of the restaurant.  Both friends worked there for six months and decided that they wanted to see more of America.

Economically challenged, my father and his friend bought a Grey Hound Bus travel pass for thirty days. They went everywhere from Buffalo, New York to California, to Las Vegas, Wyoming, and Miami. The two visited 24 states in 30 days.  They would sleep in the bus at night and roamed the streets throughout the day. They would shower at local YMCAs.

After that vacation, my father returned to New York and had set his mind that he would to go back to Delhi. However, Bhushan convinced him to stay and work at Tandoor as they would sponsor my father for permanent residence. My father’s friend decided to return to Delhi.  

Eventually, my father became the Dining Room Supervisor at another popular Indian restaurant at the time, Raaga, which was owned by the reputable Taj Group of Hotels.

Occasionally my father would still have thoughts of returning to his family and homeland.  As time went by, going back seemed less and less feasible. In January 1988 my father met my mother at Raaga while he was working and three months later they were married.

Going back to India was no longer and option and he and my mother started their life in America together. My father started his own exporting business in 1988 and later that same year I was born.

When my father had left Delhi in 1978, he had never thought that he was going to leave the life that he had in India.  He had no idea that ten years later he would be settled in a foreign country over 7000 miles away from what he had known to be home.

He now knows that only one thing in life is constant and that is change. One thing that he has taught me is that change must be welcomed with open arms and that to survive one must adapt.

Masala! Mehndi! Masti! Get ready for a fabulous festival in Toronto!

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Masala! Mehndi! Masti! (Aug. 19-21)

A three-day festival connecting the diverse elements of South Asian culture

Harbourfront Centre, along with its lead summer partner The Toronto Port Authority, presents Masala! Mehndi! Masti! created and co-produced by Satya Arts  Association, Aug. 19-21. The Masala! Mehndi! Masti! Festival, part of ‘Hot Spot Summer’ on downtown Toronto’s waterfront, is a celebration of incredibly diverse South Asian and South Asian-inspired culture. As a “Dor/Dhaga/Thread”, Masala! Mehndi! Masti! ties and binds diverse parts of the culture together, connecting and creating continuity, while not compromising the uniqueness of each part. It pulls and draws each element closer to the other or creates a link between them all. Sacred Threads abound in the day-to-day life of South Asians, and this festival weaves cultural threads that are just as powerful and important in many ways.

The film segment, MMMovies! features an exciting personality this year: the new face of Indian cinema and one of Bollywood’s 10 most desirable actors, Abhay Deol. His just-released film, “Zindagi Milegi Na Dobara (You Only Live Once)” has taken the planet by storm.

Winners of the reality TV show “India’s Got Talent”, the 17-member Shillong Chamber Choir from Meghalaya (a tiny north-eastern state of India) perform a repertoire of classical, jazz and musica sacra on the WestJet Stage. Sri Lanka’s biggest hip-hop stars, Bathiya and Santhush, fly in as festival closing headliners, and classical artistSnehasish Mozumder also performs with his double-necked mandolin, fusing gorgeous music with his unique voice. Part traditional and part contemporary, Bhanging by the Lake presents the best in Bhangra dance and music.

Dance takes over the Redpath Stage as some of the best choreographers come to Masala! Mehndi! Masti! to showcase the traditional and non-traditional dances of South Asia. Promising to excite the audience with fast-paced dance, Swar Sadhana is a group known for their traditional music; they present Dandiya Raas, inviting one and all to participate in this Gujarati community dance. GhuMMMo! is an hour-filled production of exceptional dance performances that highlights a range of dance techniques that include jazz, classical and ballet.

Actors take audiences on a journey through South Asian customs and culture in Sacrifice, by Nobel Prize winnerRabindranath Tagore, a tale about a king and queen in conflict with each other when religion dominates politics. Dirty Pakistani Lingerie has Pakistani-American women airing their dirty lingerie while trying to find their place among two very different cultures.

Join us this summer as we explore “Hot Spots” of intensity, artistic brilliance, connectivity, and regions of conflict that shape the impressions we have of ourselves and our world. This theme is programmed into each weekend festival to bring together rich artistic traditions from our own backyard and around the globe! It also presents a unique opportunity to experience top Canadian and international artists in a fun, family-friendly environment without ever leaving the city!

www.masalamehndimasti.com

Readjusting to the Indian Culture After Living Away

In today’s global world, people move and live in many places in their lifetimes. Sometimes, people move away, become an expat, and then move back, or repatriate, to their hometown or home country. In the case of India, Indians who have left India and return are classified as NRIs (Non-resident Indians).

For some NRIs moving back to India can become more of a challenge than moving away to a foreign country. This article focuses on tips on readjusting to Indian culture after living abroad. These tips are especially useful for NRIs in America.

Be aware that these differences can and do cause culture shock and cultural adjustment issues for some NRIs.  Though NRIs may have at one point may have found America “a land of opposites” as compared to India, moving back to the once familiar is not so easy as it seems. Culture shock can set in quickly and deeply and affect your success in readjusting to your own country that you once called your home.

Read the tips at  NRIMatters

A wave called Dr. Chopra. A Cultural Heritage Story brought to you by Western Union

Western Union is a proud sponsor of NetIP’s stories of Cultural Heritage, Drops. Ripples. Waves. Join us at the NetIP Annual conference in Washington DC over labor day to celebrate your heritage.

Dr. Parveen Chopra is the first Indian American honored by the New York State Bar Association in the history of the organization to receive the Haywood Burnes Memorial Award for his commitment to the struggle for justice and the qualities that made him an outstanding advocate for civil rights and the empowerment of the powerless. He also was the first Indian American to ever receive the Liberty Bell award for the promotion of Justice from the Nassau County Bar Association ( Largest Suburban Bar Association in the United States), where he served on the Judiciary screening committee of Housing court judges to prevent discrimination in housing. He currently serves as President of the Asian American Coaltion with 14 member countries representing the needs of the broader Asian communities.

“I’m privileged to have a loving father who taught us to stand up for our beliefs, community and society – through the example of his life. Both my father and mother are highly educated and mentally strong individuals who worked for the betterment of our people. I remember as a child, when our community was the subject of violent attacks by local gangs in Jersey City ( Dot Busters). Instead of retreating away from the problem – they both leaned into it, to ensure a better life for all ethnic minorities.  We have been blessed to have parents who are incredibly supportive of who we are as people, but also parents who have provided a tremendous amount of support to help realize the goals of our life and who instilled the values of higher education, hard work, discipline and perseverance. Our family has dedicated over 40 years to the growing community in the United States, hopefully we will still have the opportunity to serve.” said Dr. Praveen Chopra’s son, Samir Chopra who lives in New York with his wife and expecting their first child.

Dr. Parveen Chopra is an outstanding Asian-American who has excelled in academics, civil rights movement, regional and national leadership to community and has been widely recognized by leading Asian and American institutions for his outstanding contributions.

Dr. Chopra has excelled in academics by attaining five graduate degrees with honors and top ranks from prestigious universities and an MBA, and a Ph.D. in Business Administration. He has taught over seven thousand BBA, MBA, and doctoral students and has authored several books and articles in the field of Management in Business Administration and has been a member of the Academy of Management since 1976.

Dr. Chopra has lead, as the first Asian-American in the State of New York, as a Commissioner of Human Rights in Nassau County for the past seventeen years, vice chairman since 1996 and as acting chairperson since 2004. He has done a lot to mitigate discrimination in employment, housing and public matters. Dr. Chopra was also the first Asian to work as Commissioner of Planning from 1996 to 2002 and served it with great distinction in open hearings to public and improved the quality of life of 1.3 million Americans in Nassau County, New York in terms of land use, zoning, density, environment, transportation, population dynamics, urban planning and economy. Dr. Chopra was part of the team that prepared a master plan for the development of Nassau County for the next two decades based on his vision, experiences and input from citizenry based on hundreds of town hall meetings. Dr. Chopra also represented on the Decentralization Board of the Office of Cultural Development (1990-2002) promoting cultural heritage of many communities in New York and appeared before county legislature and state bodies for promotion of arts and culture in the state of New York.

Dr. Parveen Chopra addressing Indian Americans as President of Federation for the tri-state area during the period when Indian Americans were the target of racial crimes in 1987.

Ellis Island that beacons the Statute of Liberty in America and has been the landing point of many ancestry groups honored Dr. Parveen Chopra with the Ellis Island Medal of Honor for 2005 as an outstanding American for his great contributions to American life. This honor has been bestowed on many former Presidents like Bill Clinton, George Bush, Ronald Reagan, Jimmy Carter, Gerald Ford, and Richard Nixon; Chief Justice of the U.S. Supreme Court William Rehnquist; Muhammad Ali; pioneer heart surgeon Dr. Michael E. DeBakey; Rosa Parks; Noble Laureate Elie Wiesel; Frank Sinatra; Bob Hope; Barbara Walters; Donald Trump; Quincy Jones; General Colin Powell etc.

The New York State Bar Association (NYSBA), with over 76,000 members, the largest voluntary association of attorneys in the United States founded in 1876. Decided to confer Dr. Parveen Chopra with the Prestigious Haywood Burns Memorial Award for his outstanding work in civil and Human Rights. Of major significance, Dr. Chopra was the first South Asian honored in the history of the 133 year old organization. Former Recipients include Federal Judge Honorable Cornelius V. Blackshear, Hon. Pam Badoria Jackman Brown of Jamaica and Prof. Randolph M. Scott-McLaughlin of Pace University School of Law.W. Haywood Burns, was a former dean of the City University of New York School of Law Mr. Burns joined the New York law firm of Paul, Weiss, Rifkind, Wharton & Garrison, and later became law clerk to Judge Constance Baker Motley of United States District Court. From there, he became assistant counsel to the NAACP Legal Defense and Education Fund Inc and where he served as general counsel to Martin Luther King Jr.’s Poor People’s Campaign in 1968.

Dr. Chopra was Marshal of India Day Parade which he helped to organize in 1987-88 and succeeding years as President of the Federation of Indian Associations for New York, New Jersey and Connecticut, considered as the largest umbrella organization in USA. He also organized many functions in major cities of USA as General Secretary of National Federation of Indian American Associations (1992-94) to preserve and enhance Asian Indian cultural heritage and promote the causes that strengthen the relationships between two strongest democracies of the world India and USA. Since then he has frequently acted as a liaison with many elected officials in the region and the White House in Washington, D.C.

In civil rights movement, Dr. Chopra has fought prejudice and discrimination against the Indian, Asian, and American community. In 1987-88 he spear headed the movement in Jersey City, New Jersey and in New York City by organizing community protests. He also participated directly in a debate at Columbia University with the Chief of Police of New Jersey. He led the delegation to meet the Attorney General in Washington, D.C. and also organized seminars at the Crystal City Inn to fight discrimination where entire EEO Commission was in attendance. In 1989-90 he took an active role in organizing demonstrations in Jackson Heights, Queens when Indian merchants and customers became targets of violence. With the assistance of Police Department, Mayor and the Borough President™s Office the situations were resolved.

Recently Dr. Chopra, was the first Asian to be honored with the prestigious Dr. Martin Luther King Award for 2005 at the Grand Ballroom of Marriott Hotel in New York, along with the current Police Commissioner which was attended by many supreme court judges and scores of elected officials and cross section of representation from Irish, Italian, Israeli, African, Hispanic and Asian communities. He was again the first Asian to be honored by The One Hundred Black Men Inc. at the Grand Ballroom of Crest Hollow Country Club New York in 2003 for his distinction in community service and efforts to promote understanding and relations between the African and Indian communities. He also worked with the Hispanic leadership on English Plus campaign successfully to retain English as a second language. He has received many prestigious awards from the highest elected officials like the Prime Minister of India, U.S. congressmen, N.Y. state senators, county executives, presiding supervisor of legislator, town boards and mayors and many prestigious associations and organizations in Indian and American community like Federation of Indian Associations, Sri Chinmoi Mission at the United Nations, H.H.H.Pramukh Swamy Maharaj of B.A.P.S., News India Times Group Inc., Nargis Dutt Memorial Foundation Inc., Jackson Heights Merchants Association, World Business Forum Inc., Shiromani Punjabi Puraskar-2002 by the International Council of Punjab, etc. His leadership and community activism has been covered by American newspapers like The New York Times, Newsday, The Herald, The Citizen etc. several times.

Dr. Chopra founded Jackson Heights Merchants Association (1988), Flushing Merchants Association (1989) which are the business hubs of Indian community in New York City. He worked to improve the neighborhood conditions for merchants, customers and citizenry. Dr. Chopra is also the founder of Asian American Coalition USA Inc. (1988) representing leaders and associations of thirteen Asian countries in America. Dr. Chopra is also the lifelong trustee of Hindu Center/Temple, Flushing, N.Y., and currently chairs the Election Committee.

Dr. Chopra has organized over thirty fund raisers to help elect officials like county executive, congressmen, senators, judges for Supreme Court, county court, family court and district courts, town supervisors, mayors, legislators and councilmen. This has greatly helped not only Indian community to assimilate in America but also benefited countless causes in mainstream America. Dr. Chopra has also represented New York City Mayor and Comptroller and the two county executives on Long Island at over three hundred functions over the past two decades welcoming such visitors as the Prime Minister of India, Federal Ministers, industrialists, ambassadors, consul generals, bishops, movie stars, and outstanding men and women of significant achievements by presenting them with a key to the city, a flag of Nassau County, a citation or a proclamation to mark various events, achievements and celebrations.

Dr. Chopra has been profiled and honored by America’s oldest and prestigious biographer Marquis’ (since 1894) WHO’s WHO IN AMERICA, WHO’S WHO IN FINANCE AND INDUSTRY IN AMERICA, and WHO’S WHO IN THE WORLD for his distinguished and singular achievements spanning over twenty five years.

Dr. Chopra has lived in United States for thirty five years with his wife Usha who is a Clinical social worker. They live with their two sons Samir a Managing Director on Wall Street and Dr. Sachin Chopra an Attending Physician. Usha and Parveen have graduated from Western Himalayan Mountaineering Institute Manali and Usha was Deputy Leader of the mountaineering expedition to Mount Weissorn in Himalayas. Both have taken part in marathons in New York and all of them love Punjabi folk dance Bhangra.

“I wish NetIP the best of success in their endeavors. It is a leading organization that is making great contributions to both Indians and Americans by providing a platform for learning, mentorship and leadership of future leaders in all professional fields as well as community service.” – Dr. Parveen Chopra