Smart People

SMART EYE

Work is what matters to N R Ramakrishnan, chief marketing officer at SBI Mutual Fund (SBIMF).

Positioning Non-resident Indian Fund, a one-of-its-kind fund launched by SBI in December 2003, keeps him happily engaged right now. He is evidently proud of the product.

"NRIs do not have too many options in India apart from fixed deposits. The fund aims at meeting the investment needs of NRIs, with an active portfolio management strategy," he says.

With trends in the US economy still uncertain and Indian equity markets booming, Ramakrishnan does not see why NRIs should not flock around the fund.

Ramakrishnan began his career with India's biggest bank way back in 1981 as a probationary officer after graduating in chemistry.

His long stint with the bank has taken him to various parts of India - during which he completed CAIIB, a degree programme for bankers - before settling in Mumbai in 1999.

Born in Kerala, Ramakrishnan completed education in Delhi and joined SBI in Gujarat. What made him stick to SBI? "A highly ethical system of working," is his answer.

Ramakrishnan has been instrumental in spreading SBIMF products across various distribution channels through branches - there were 21 branches in 1999 when he came in and now there are 36.

These exclude 81 centres through which the mutual fund products are marketed. He feels SBI has its geographical spread to leverage but going forward more aggression on the bank's part will boost its products further.

Ramakrishnan, whose key interests include traveling and exploring new places, prefers a Spartan way of life. He is looking forward to two new innovative equity funds from SBIMF that are in the pipeline. For Ramakrishnan, life begins where work ends.

The Haribhakti & Company report on the vexed issue of turnover fee had raised a few hackles, especially in the broking community.

However, Shailesh Haribhakti, managing partner and chief executive, Haribhakti Group, says the turnover fee has been computed based on the law and keeping in mind Sebi's directives. "I don't know why it has become such a big issue," he wonders.

"Brokers are now getting used to the idea and the large amount of risk that is so inherent in the markets has to be capped. It helps to cushion the risk of an adverse effect and is a step in keeping with the best practices being followed by our markets," he adds.

He says the Indian markets have exceeded global standards with T+2 being an important benchmark, and is impressed with the level of sophistication achieved.

However, one thing he is not too impressed with is the sustainability of the current rally. "The rally to 5500 was believable but the 6000 levels are just so unreal," he adds.

Haribhakti says the markets suffer from a lack of further headroom and only a sustained enhancement in corporate earnings in the next few quarters could ensure that the index remains at these heady levels.

Haribhakti is also president of the Indian Merchants' Chamber (IMC) - an apex body of trade, commerce and industry to promote industrial and economic development in the country.

His agenda for IMC is to make it a knowledge centre, providing cutting-edge knowledge, concepts, best practices and research. IMC's Mumbai development report has been sent to all members of parliament.

His father, V B Haribhakti, was the president of the Institute of Chartered Accountants of India and also the president of IMC.

Stepping into his father's shoes was easy for this topper who aced every exam he took with ease and completed his CA when he was 21.

Haribhakti works six days a week, averaging 10 hours a day. Apart from lecturing, writing and presenting, Haribhakti relishes the time he spends with himself.

Haribhakti starts his day with an hour of breathing exercises and yoga and loves to relax with a book.