A friend recently called to enquire about some investment plans being recommended by her adviser. She has been investing in systematic investment plans (SIPs) but had some surplus to be invested regularly. The adviser had recommended a 20-year investment plan, which would yield 12-13% return. On probing further, it turned out to be a unit-linked investment plan (Ulip) with high exposure to equity. The other investment recommended was a portfolio management service (PMS). This was suggested over equity funds, stating the ability to give higher returns since the fund manager would focus only a concentrated portfolio.
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