Listen to this article
At the recent Cafemutual Confluence 2024, Kolkata MFD Saibal Biswas was awarded the Cafemutual Big League Equity Champion Award for achieving the highest net equity inflows during FY 2023-24 in east India.
East India includes the states of West Bengal, Odisha, Jharkhand, Sikkim, Assam, Meghalaya, Nagaland, Manipur, Mizoram and Arunachal Pradesh.
The Cafemutual Awards, powered by CAMS, identified 24 champions in five broad categories - SIP, equity inflows, new folios, fintech players and overall business. The award was based purely on quantitative performance during the FY 2023-24.
Saibal, a former bank employee, left his job in 2005 to start a mutual fund distribution firm with his friend. Working as a director at the firm till 2010, Saibal started his own firm over some personal differences.
Despite the market rally last year, Saibal managed to convince his clients to stay invested. He shared with us his approach to create long term equity investors.
Acquiring young salaried individuals
Saibal focusses on acquiring young salaried individuals as they have a better appetite for equity investing. He conducts knowledge sessions in schools, hospitals and private companies to acquire young individuals.
The MFD makes his prospects understand the importance of equity investing for the long term. He takes them through various market cycles and how equity has done well compared to other asset classes despite volatility.
Continuous hand holding the clients
Saibal keeps on educating his clients about long term benefits of staying invested in equity funds. He believes that the job of MFD is to manage client’s behavioral biases. “We always tell our clients that equity investing is like playing chess where there is no time duration, “he said.
Another activity that inculcates long term discipline habits is making clients identify their goals. He said, “We tell all our clients to fill up a form that captures their life goals. Whenever clients try to exit midway, we show them their life goals to bring them on track.”
Regular messaging
Saibal regularly writes articles in newspapers and magazines on long term benefits of equity investing. He shares these articles with his clients to reinforce the messaging of long term investing in equity funds.
Currently, Saibal manages AUM of Rs.1,100 crore. Of this, 80% of his assets is in equity funds. He caters to close to 2700 clients
