"Someone is sitting in the shade today because someone planted a tree a long time ago."
- Warren Buffett
The World Investor Week 2020 is being observed from October 5, 2020 to October 11, 2020.
As part of the Investor Week 2020 celebration, Finance forum, Department of Finance, ITM Business School, Kharghar, Navi Mumbai organized a Workshop on 'Mutual Fund Expert Speak' to create awareness regarding Savings & Investments by HDFC AMC
The Expert speaker for the workshop was Mr.Shapath Gupta who is currently designated as Asst Manager in HDFC AMC.
The aim of the workshop was to help the students to gain a working understanding of the BFSI industry and benefit from the detailed information about various financial products and financial planning provided during the workshop. This session also helped the students to gear up for the ongoing placement season. More than 240 students actively attended the session with an enthusiasm to learn more.
Mr. Shapath opened the workshop by providing an overview trough 3 major questions -
- 1. Why to Build Wealth?
- 2. What are your Tools?
- 3. Why Mutual Funds?
Some of the Key takeaways from this captivating workshop were,
Savings is what we save for future use and not spent, whereas Investment is when you invest that money in various asset classes to achieve various financial goal.
The Eighth wonder of the world Compound interest is sometimes thought of as a miracle worker as it has the power to convert a small, concerted amount of savings effort into a large and comfortable retirement value.
He quoted the famous quote of Warren Buffet “Don’t save what is left after spending; spend what is left after saving."
He also gave us the statistics of what people do with their savings, how to plan retirement effectively, how we should allocate our investments in various asset classes as per the risk appetite and financial goals.
He also explained how a diversified portfolio helps spread the risk of possible loss and shed light on 4 Steps to building wealth - 1. Choose a set of funds 2. Set up a SIP 3. Review and increase investment 4. Add lump sums as you get them.
Students understood that Savings alone will not be enough, and our money should grow in value over time.
It was a very enlightening and interactive session where students also came to know about the career opportunities in BFSI sector.
It was a great initiative taken by the faculties of Department of Finance for conducting this wonderful session of knowledge sharing and gaining virtually especially during this pandemic.
This wondrous session was ended by expressing gratitude and extending thanks to our Expert speaker Mr. Shapath on the “World Investor Week”