SMIC and Samnidhy Meet 2019: Day 2: Closing Ceremony

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The very eventful 2 days of SMIC and Samnidhy Meet 2019 came to an end on 24th March 2019. The closing ceremony began with TJEF, TAPMI Journal of Economics and Finance’s Co-MD Mr. K A Bharadwaj addressing the guests, faculty, and students. Mr. Bharadwaj shared his opinion about the pace of development, its impact on the planet and the reciprocal effect of climate change of businesses and humanity. He also explained how TJEF encourages and provides a platform to the students to write and publish papers in the TJEF journal. Mr. Shomit Sengupta, Managing Editor distributed the journals to the guests.

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After TJEF’s address, Samnidhy Board members took the stage and Mr. Saurabh Bhatia, Fund Manager at DSP Investments Managers Pvt Ltd unveiled the annual newsletter of Samnidhy. The board members then explained how Samnidhy has become one of the best Student Managed Investment funds in India and gave a brief picture of its functioning, structure and portfolio snapshot along with the sector-wise split. The board also introduced some of the key initiatives which they have planned for future which includes releasing weekly newsletters, quarterly investor meetings and arranging workshops by various industry stalwarts for the student community of TAPMI. Prof. Vishwanathan Iyer introduced the new board members to the guests and the students of TAPMI and shed some light on the roles and responsibilities of the new board members.

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Mr. Shubojit Bhattacharya, Ex-CEO of Samnidhy then announced its collaboration with AlphaBeta, introducing cutting edge technology to the students in the area of investment and wealth creation. Mr. Satyanarayan, from Alphabeta explained the importance of technology and elaborated on the skills which one will require in the future along with critical thinking, communication and collaboration skills. Mr. Satyanarayan gave the demo of the application highlighting its importance in today’s world to reduce active cost of management.

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The ceremony ended with Prof. Rajeev Shah, Area Chair, PGDM-Finance, TAPMI, thanking the guests and student community for organizing the event.  The event ended with vote of thanks by Ms. Shruti Kajaria, convener of Finance Forum, to all the guests, participants, faculty and student community.

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SMIC and Samnidhy Meet 2019: Day 2: Guest Lecture: A talk about Fixed Income and Careers in Finance by Mr. Saurabh Bhatia, Fund Manager- Fixed Income, DSP Investment Managers Pvt. Ltd.

A Guest Lecture was held on 24th March 2019 by Mr Saurabh Bhatia, Fund Manager- Fixed Income at DSP Investment Managers Pvt. Ltd, as a part of the SMIC and Samnidhy Meet 2019 conducted by TAPMI Finance Forum. Mr Bhatia who has over 15 years of experience in the area of Fixed Income, engaged in an interactive session with the students.

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He commenced the session by discussing careers in Finance. He discussed the various aspects of careers in Core Finance, Investment Banking, Mergers and Acquisitions, Equity Analysis, Sales and Financial Management. He interacted with the cohort and discussed their aspirations in the domain of Finance. He spoke about the primary areas of Manufacturing, analysing or selling a Balance Sheet in the domain. He went on to discuss what determines the cost of money.

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He then discussed the Student Managed Investment Course (SMIC) presentations and explained the importance of making informed decisions about any investment. He emphasized the importance of building a framework for all investment decisions and explained the Macro, Impact and in the Price frameworks. He concluded the session by encouraging the students to improve their skills, use their time efficiently and hence, improve the balance sheet of their lives.

SMIC and Samnidhy Meet 2019: Day 2: Guest Lecture: A talk about “Investment: Road to Wealth” by Mr.Akhilesh Gupta, Chief Investment Officer, Reliance Nippon Life Insurance

On 24th March 2019 a guest lecture by Mr.Akhilesh Gupta, Chief Investment Officer, Reliance Nippon Life Insurance was organised by TAPMI Finance Forum as a part of SMIC and Samnidhy Meet 2019. Mr. Akhilesh Gupta has over 25 years of experience in various asset classes like Fixed Income, Foreign Exchange and Trade and Structured Finance (TSF).

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Mr.Gupta engaged the student cohort in an interactive discussion about Investment and the Power of Compounding when it comes to investment. He emphasized the importance of one’s innate personality when it comes to investing in the stock market. “Losses are inevitable at some point. You need to be a balanced person and need to have passion for investment,” he said.

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Mr.Akhilesh Gupta engaged the crowd in an enriching discussion about how to construct portfolios, and the importance of having a collection of diversified stocks in one’s portfolio. He also discussed several techniques of investment, like the ‘Top-Down Approach’ and the ‘Bottom-Up Approach’ of investment. Towards the end of the session, he engaged with the student cohort in an exciting Q&A session where he enthralled the audience with his witty and insightful answers.

SMIC and Samnidhy Meet 2019: Day 2: Guest Lecture: Mr. Trivikram Kamath-Executive Vice President & Head- Operations, Finance & Technology at Kotak Securities Limited

People should reskill every three to four years in order to make a mark in the changing world.”- Trivikram Kamath

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On 24th March 2018, the second day of Student Managed Investment Course (SMIC) saw an interactive session by Mr. Trivikram Kamath, Executive Vice President & Head- Operations, Finance & Technology at Kotak Securities Limited. He spoke about the changing world scenario and how the industrial revolution has been occurring over the years and bringing worldwide changes. People have reskilled themselves to be a part of this change.

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The industrial revolution was a disruption which changed the way manufacturing was done. New chemical and production processes also came with it. At first, people took the sudden changes negatively and that in turn did not affect them. Over time people got accustomed to the new skills and became a part of the change. More revolutions took place with time and there came more changes. Disruption occurs every few years and the only way to keep up with it, is to reskill and be a part of the new system.

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He then discussed about several present day essential technologies like Blockchain, Big Data, Augmented Reality, 3D printing, AI and Machine Learning, IOT and many more. He explained how such technologies give us an edge in this world over others which eventually results in a competitive advantage.

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SMIC and Samnidhy Meet 2019: Day 2: Guest Lecture: ‘Early Stage Funding, Establishing process and procedures in a Startup environment and Building a Sustainable Platform’ – by Mr. Vikas Sarda, CFO, Unitus Capital and Unitus Seed Fund

On 24th March 2019, Mr. Vikas Sarda, CFO, Unitus Capital and Unitus Seed Fund addressed TAPMI cohort as part of the guest lecture organized by TAPMI Finance Forum.  He spoke to the students about ‘Early Stage Funding, Establishing process and procedures in a Startup environment and Building a Sustainable Platform’.  Mr. Sarda shared the secrets of successful startups in terms of uniqueness of product, pitching to invite investors and mistakes to avoid.

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Mr. Sarda initiated the discussion by finding out the audience’s experience in startups.  A few members of the cohort shared their struggle in keeping up with the dynamic environment of their own startups.  Mr. Sarda discussed how the startups have to design their products or offerings to the consumers.  He said that the products should solve a real life problem to begin with.  They should not be yet another product that is already available in the market, he emphasized. Since in India there are 450 million internet users and 33% of its population uses smart phone, he insisted that startups should incorporate technology and IOT in their products since they are ubiquitous features in the present day world.

Mr. Sarda cautioned the budding entrepreneurs to be weary of the field in which they build their startups.  Education was the go-to domain a few years ago.  With technology grabbing the attention of investors, its share in terms of investment has risen to more than three times that of the non-technological investments. Fintech in particular attracts investors in huge proportions now, he said.  “All one needs is the right idea and the right people and there would be no dearth of capital in the world”, Mr. Sarda encouraged the entrepreneurs.

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He said that companies like Unitus Capital are seed funding firms that invest from one to six crores. Entrepreneurs should approach such investors after proper research of the firms.  In the competitive world where in only one out of four startups manages to survive, entrepreneurs have to be very passionate about their idea and pitch it well to the investors.  Things like E-mail etiquette also become important while pitching.  Investors look for an IRR (Internal Rate of Return) of at least 26% and an exit strategy too.  So, entrepreneurs’ should pitch to impress them thoroughly. Startups should try to safeguard their products in terms of uniqueness and deliver proper returns to the investors, Mr. Sarda said.  He warned the startup enthusiasts of the hardships one has to endure in terms of no large initial salaries.  He advised them not to use working capital for expansion.

Mr. Sarda concluded the lecture by encouraging the students to follow their passion.  He advised them to “Dream, Believe and Achieve. Have Intelligent Persistence; know when to move on when you fail”.

Day 2: SMIC and Samnidhy Meet 2019: Guest Lecture by Mr. Siddharth Bhattacharya, VP-Franklin Templeton Investments

DSC_0373On 24th March 2019, Mr.Siddharth Bhattacharya, VP-Franklin Templeton Investments addressed TAPMI cohort during a guest lecture as a part of the SMIC and Samnidhy Meet 2019. Mr.Bhattacharya shared his insights on the topic ‘Congruence in Divergence in the Investment Industry’. Mr.Bhattacharya initiated the discussion by suggesting that time correction  in terms of stock recovery affects an investor’s emotion majorly.  “Greed and fear drive our investment decisions”, stated Mr.Bhattacharya. He explained the relationship among greed, fear, loss and gain. The relationship between fear and loss can be attributed to losing money invested whereas fear and gain results in the investor doing relative benchmarking with other investors. On the other hand,  ‘agreed to keep money in hand’ can be characterized by the relationship between greed and loss whereas the greed to make more money is an attribute of greed and gain.

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Mr.Siddharth Bhattacharya shared his insights on the relevance of data points and technical insights while investing in stocks. Factors like news, corporate results, global economic situation, political environment, macroeconomic situation and financial advisors may not add to the functional aspect of a decision made by an investor. He cited few examples where the aforementioned data points proved to be irrelevant pertaining to an investment decision. Mr.Bhattacharya explained the emotional cycle of an investor which includes factors like relief, excitement, exuberance, anxiety, fear, panic and hope depending on the movement of the market. He also shed light on other factors like aspirational inflation, cost of delay, power of compounding and time duration to attain high returns on which an investor needs to check while investing.

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Mr. Bhattacharya concluded the session by stating the importance of a goal-oriented solution rather than a product based solution in order to decide asset allocation to stocks as a part of portfolio diversification. The lecture ended on an interactive note with a question-answer session.

 

 

 

SMIC and Samnidhy Meet 2019: Day 1: Inaugural Ceremony

On 23rd March 2019, TAPMI’s Finance Forum hosted the 5th edition of Student Managed Investment Course (SMIC), TAPMI’s flagship program in the finance domain. The theme for the current edition was Congruence in Divergence. The occasion was graced by Professor Madhu Veeraraghavan (Director TAPMI), Professor Rajiv Shah (Area Chair, PGDM-Finance), Professor Meera Aranha (Area Chair, PGDM-BKFS) and other distinguished faculty of TAPMI. Six esteemed industry stalwarts were invited to judge the students in the capacity of external judges and provide their valuable guidance and feedback to the participants of the course. The judges were Mr Siddhartha Bhattacharya (VP and Regional Head – South at Franklin Templeton Investments), Mr Deb Bhattacharya (General Manager, Investment Team at PNB MetLife India Insurance Co. Ltd), Mr Akhilesh Gupta ( CIO, Reliance Nippon Life Insurance), Mr Saurabh Bhatia (Fund Manager at DSP Investment Managers Pvt Ltd), Mr Trivikram Kamath (Executive VP and Head – Operations, Finance and Technology at Kotak Securities Limited) and Mr Vikas Sarda ( CFO, Unitus Capital and Unitus Seed Fund). The event commenced with the auspicious lamp lighting ceremony.

A total of 13 teams presented their investment strategy to the judges, explaining in detail the rationale behind constructing the investment portfolios. This unique program at TAPMI is the brainchild of Professor Madhu Veeraraghavan, Director of TAPMI and owes its genesis aligning with TAPMI’s philosophy of providing ‘Experiential Learning’ to its students. As a result, SMIC is incorporated in the pedagogy of PGDM-Finance and PGDM-BKFS curriculum at TAPMI to offer students first-hand experience of investment and portfolio management through real money and not via simulation.

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The presenting teams had to elaborate on various aspects of their four month long investment journey – the team’s investment philosophy, the risk-taking appetite of the team, sectoral analysis, the reasons behind choosing some sectors to invest in while avoiding some sectors, the final set of stocks chosen for initial investment and various financial ratios to depict the performance of the selected stocks with respect to the industry average. The teams used descriptive statistics extensively to emphasize the financial performance of their portfolio over the investment period. Finally, the teams had to report their Return on Investment (a corpus of INR 1,50,000 was given to each of the teams) and whether they were able to make profits by beating the index benchmark or not.

Once the teams finished their presentation they had to answer the queries raised by the judges. The judges probed the teams regarding various aspects of their investment strategy and portfolio management to elicit a suitable response from the teams. The team members had to justify their decisions and provide a satisfactory rationale for the same.

The feedback that the industry stalwarts provided was invaluable for the students as they were instrumental in letting the students know their mistakes and areas of improvement which they would be sure to keep in mind in their future endeavours. SMIC and Samnidhy 2019 was a unique experience for the students of TAPMI, a continuing legacy, which will surely prove to be a vital learning experience for the budding finance students at TAPMI.