Among the first associations of its kind, ASK Circle focuses on knowledge enhancement and skills development. Among its most visible activities is the annual Mutual Fund Round Table (MFRT) Kanak Jain, President of Kolkata based ASK Circle takes us through various activities organized by the association
When was the group formed and how many members are a part of this group?
The group was formed on July 1, 2007 and has currently 83 members.
Is there any membership fee to join your group?
There are three membership categories. The first category is life membership where people have to shell out Rs. 20,000. Second category is annual membership which is Rs. 1200 per annum. The last category of members is lite memberships who do not have to pay any membership fee as they are online members. These members receive regular updates on various issues taking place in the industry and we meet these people once in a year.
What activity does your group undertake?
We organize regular activities for life and annual members on every third Saturday of a month. The programs run for four hours where we hold discussions, knowledge sharing sessions and even book reading sessions.
We organize cricket matches where AMC representatives from different places like Patna, Ranchi participate along with AMC’s Regional heads. For our members and their families we organize an annual retreat, i.e. an outdoor picnic.
By organizing these activities, we have been able to grow our business and develop our professional skills.
What is the objective/motto of your group?
We formed the group with a motto to share knowledge and grow our networking base. ASK stands for attitude, skill and knowledge. We aim to grow by learning from each other.
Tell us about MFRT?
The main motto for forming the MFRT is to spread awareness among investors through financial literacy. It is currently the biggest mutual fund conference in India and we aim to make it biggest in the world. Through this conference we try to broaden our horizons such that it benefits the industry and the investors.
To be a part of MFRT, an IFA should manage a minimum AUM of Rs. 2 crore.
How do you interact with other IFA associations/groups regarding the issues in the mutual fund industry?
We are closely connected with IFA Galaxy. They enthusiastically participate in our events and we always take part in events conducted by them.
What are your future plans for the group?
We plan to add more life time members. We would look forward for more knowledge sharing and conducting seminars.
If a national group of IFAs is formed, will you merge/join hands or be a part of such a group?
It depends up on the approval of the members of our association but we would look forward to be a part of it.
How do AMCs support you?
A number of AMCs have conducted programs for imparting knowledge. Besides imparting knowledge through these seminars, these AMCs are a part of ASK Circle under associate membership category.