Mise à jour il y a 101w · Voté par
Adhiraj Singh, Vice President Investor Relations at Minance
All the answers written here are great and provide a good deal of information about Minance.
The problem with all these answers is that every review is positive, and nothing negative. But how can a company which is aspiring to become an IB in future not have some issue in its initial days ? So here is my sort of negative review of my association with Minance.
- There is no welcome kit you receive from Minance after you become a partner. It may not be much, but they should think about having some welcome kit, since Anurag Bhatia has worked in Amazon, and idolizes Jeff, he should take some things from Jeff’s playbook. Amazon sends a key ring for becoming a prime member. There is no physical proof of the association.
- Everything is provided by Angel broking. Since Minance is a Sub broker, everything associated with Minance is from Angel and nothing from Minance other than the SMS of trades.
- If you do not understand stock investment or options trading you will not even understand half of the trades done. Though you can call and get clarifications but they should have some mechanism for educating beginner investors about the trades without even asking. If someone does not understand the trades a day will come when there will be losses on trades and a lot of nit picking will happen.
- Though the minimum investment is 25000/-, to realize Minance’s full potential, one should have around 1.5 lakhs to 2.5 lakhs as investment, else the returns will vary. I know this because, one partner has mentioned that he made 3% in a month and for the same month I make 1% the difference on analyzing was the other partner had some Options trades done and mine did not. This may happen because of the fund difference.
- The amount of involvement shown before becoming a partner and after is very different if you do not initiate the dialogue.
- There is no past performance data for new investors to check, everything is either verbal or over mail. There should be a place on the website to tell the past performance of the different trading strategies based on different risk profiles. This will also help new investor to figure out the idea investment amount.
- Past performance is a must for building credibility with partners and potential partners.
- With past performance metrics should say 1000000 invested with different trading strategy might have grown to what level presently.
There are few more points which I will update, but the above review does not mean I am not happy with the returns or services, but these are the field which I feel Minance is lagging.
Minance is like a uncut diamond now. To become a great alternate investment for Indian customer targeting from classes to masses Minance have to polish its services in a scalable manner.
Review of the Website.
- Le site Web Private Wealth Management for Everyone is virtually useless once you become a partner. This website should have a partner login, where any partner who does not understand the investment idea or trades, can be presented with a very nice portfolio application which will describe the trades and also the P/L which comparison to benchmarks. Probably like Zerodha portfolio manager, because that is much more easier to understand than the Angel’s portfolio manager.
- The same website could be enhanced for query section, where investor can ask queries regarding trades.
- Top answers from Quora can also be displayed in the website. The idea I am trying to convey is to make Private Wealth Management for Everyone website the one place information source for everything related to Minance.
As mentioned by another anon partner in this answer Anonymous' answer to What is your review of Minance?. I would like to add that this negative review was not to dissuade new Investor’s from joining Minance.
If you read closely none of the above mentioned issue are functionality issues, as we call in the software language. These are all good to have feature for long run, and since Minance is in the adolescent phase just wanted to bring these minor issue to the notice of the partners so these can be ironed out in future.
All the positive reviews written here are 100% correct and I can personally vouch of most of them.
Saurabh Srivastav, Director at ClickJugaad, Ex Head Of Engineering at British Telecom
Répondu il y a 118w · Voté par
Anurag Bhatia, CEO at Minance and
Adhiraj Singh, Vice President Investor Relations at Minance
- I don’t work for Minance
- None of my family members or relatives work for Minance
- I am writing this review because I felt like writing for them
I have been an investor mostly in Mutual funds and partly in equities since 2008. After 8 long years, when i look back and see, returns were paltry! Not because funds didnt perform but probably due to my own choice of funds/equites which didnt perform. None of my goals met due to the poor returns and losses in some cases.
Cut to 2015, i come across Anurag & Minance on Quora . I had my initial doubts given the uncertainties & credibility issues in the financial world-afterall it is my hard earned money which i was thinking to invest into a hedge fund. I kept reading views and answers of Anurag & found them extremely genuine. One needs to go thru his answers and he will surely make an impression on logical minds. Minance wasn’t accepting any investement back then and hence meeting didnt make sense at that time ( Thats a regret in hindsight!)
Finally, Minance started accepting investment in May 2016 and after sending an interest to them via website, I met Adhiraj ( VP- Investor relations) & Anurag (CEO,Co-Founder)
In the very first meeting, i got most of the things clarifed. They were open from the beginning. Lots of postives came out and all my technical/non technical questions were answered. I mean which CEO answers questions from retail customers that too in detail? I decided to go with them in first meeting itself though we keep meeting and continue to discuss. They understand my financial goals and I understand that there are cycles in financial markets - all we need is the probability to work on our side MOST of the times.
I am with them from past couple of months. If any of you reading needs any further information I would be glad to provide. Please message me on Quora .
Minance is strongly recommended for any investor of any risk profile. I personally wish that this David reaches to greater heights and succeeds against the Goliaths of the world of finance.
Cons of investment with Anurag & team ( Minance)
- The average age of team would be less than 25 and hence if you haven’t seen their work, you might doubt if they are mature enough to handle your hard earned money
- Some of the concepts introduced by them are new to India so you will have your doubts - it will take time to understand Minance model
Pros of investment with Anurag & team ( Minance)
- This company is a dream of lifetime for him and he goes to any length to nourish it . Read Anurag Bhatia’s some of the answers and you will know
- Huge number of strategies - automated/semi-automated/HFT/Non-HFT & algorithm based trading proven over 20 years or more of data
- Extremely proactive investor relation department. You will get calls after every set of trades
- Highly enenergtic,hardworking gang
- Transparency on transactions
- Max Draw-down in a portfolio is limited to 5% and is controlled by algorithm in case of catastrophic events. So relax! your money is in safe hands
EDIT 1: Grammatical mistakes and spellings
Rahul Arora, Energy Trader at Vestinwolf Asset Management LLC
Mise à jour il y a 31w · L'auteur dispose de réponses 845 et de vues de réponses 2.2m
I’ve been receiving requests to answer this for almost a year now. Finally, here it goes. Not praising or demeaning Minance.
So, I’ve never invested with Minance, only because as a full time trader I’ve never felt the need to. My understanding of them comes from various close sources including clients, students and friends who’ve been invested with them for a year or more. Most of them have closed accounts either in the December Quarter or recently post a Feb mess-up. This way I’ve had access to the trades and went through a couple of them when my friends asked me to, during some big draw downs. I know that Minance has different risk categories and most the people I know aren’t however invested in the safest of risk categories with Minance, so that’s one drawback to my review. This is more towards educating existing/potential clients.
Firstly, Minance has been marketed wrongly. I’ve often seen themselves call themselves a hedge fund or a “micro-hedge fund” while these claims are nowhere on the official website.
Minance is Not a hedge-fund and it is important to let investors or clients know this before hand. A hedge-fund in India is an AIF, the rules are available on SEBI websites. Minance doesn’t remotely fall in that category. Hence, it’s a wrong claim. Whatever be the strategies or the trading approach, you can’t term yourself something you’re not and that disclosure is important.
Minance is a sub-broker or an authorized person (AP), not sure which one, but either one of them, both are similar in today’s sense. So, the company is a sub-broker or an AP with Angel broking. Anybody can become one. Just apply for a partnership on Angel’s website. This is a franchise model, using Angel’s infrastructure to service one’s client by sharing brokerage with Angel. In technical terms, there is no difference between Minance and any other sub-broker/ AP.
It’s not a hedge fund but more of an “account management” service. This isn’t new. For decades brokers have been managing accounts for their clients, without the clients interference. Even today there are plenty of brokers who manage funds for their clients. However, may be, they haven’t marketed it as well as Minance has.
This gives them access to a CTCL, which is a direct market access and a terminal where they can execute orders on behalf of their clients. The core purpose of this is actually to allow franchisees or sub brokers execute on request of their clients for Call and trade, etc.
The model is basically for someone who aspires to run a hedge fund but can not afford to. One might say that they want to allow everyone to have the benefits of a hedge fund, but that’s only to justify the lacking in oneself. I’m saying this because I’ve personally shut down all operations in India for clients, etc. and am working to establish a legit hedge fund, which is in the process of drafting it’s first private equity placement memorandum a.k.a. prospectus.
Coming to the trades, the ones which have costed investors a bomb. Someone told me about the recent 11500 in the money Put writing trade. I didn’t take it seriously, thinking who could be so stupid to take such a bet. As a trader, be it in the money or not, we avoid writing puts, especially near announcements like budget etc. Last week again a few people pointed out the trade. Including a few shorts during the 2017 bull run. I’m not going in detail because there’s a lot of detail I might not be knowing. But these trades were stupid. We sell crores of worth of options, but don’t dare touch puts.
Just because you’re wanting to be a hedge fund, doesn’t mean you must complicate the trades. The purpose of a hedge fund is to make money during all times for its investors using any strategy it may deem fit, this giving the investors the benefit to also have hedged positions. Trading complicated strategies is not the purpose of a hedge fund, making money is.
I had loved the concept of minance, because I know the power of derivatives if used wisely, and to be able to bring it to every common man is a great initiative. But, the scaling has may be messed things up.
If you have 500 accounts to manage, you can not take the same position on all. And definitely not on derivatives like options in India! The Indian option markets are illiquid and lack rational approach. The positions would be different for different client accounts, which isn’t fair. That is exactly why a hedge fund or a mutual fund is a “pool” of money, so that losses or profits are absorbed equally by all investors.
My suggestion to investors would be to invest in a legit AIF if you really are looking for hedge-fund like working. It requires a minimum cap of 1 Cr but there’s a valid rationale behind it. You can not expect someone to take risks like a hedge fund, when your risk capacity is small. To grow your risk capacity, you must grow your net worth and get things done then.
Minance must not compromise on its structure and may be register and establish itself as a legit AIF instead of finding ways out to invest money for people.
Edit: I recently happened to speak to a few Minance partners who have been invested in the safer categories and are very satisfied. So, I would recommend one to opt for the low risk categories. They're apparently doing a good job there.
Mise à jour il y a 29w
I have been with Minance for three years and have invested about 10 lakh with them. I have tried to be as pragmatic as possible in the review and whether you want to invest with them is entirely your decision.
They earn money for you consistently when the volatility is low.
But in high volatility market, like the one we are seeing currently (March 2018), they have wiped off 20–80% of investors money in the last seven months.
Everything was going great until Sep-2017. The volatility was low, nifty was not seeing a huge movement in either direction.
They used to sell 400–500 points OTM options for small profits, which when accumulated monthly, looked like good returns.
For eg, when Nifty was trading around 9000, they would sell 8500 PE or 9500 CE or both, if you have enough capital. And we would make 1000–2500 per lot which is about 1% to 3% of the capital deployed (~65k per lot for one lot).
They seemed too calm and confident about all the trades and the trades went right almost all the times. I never saw them panic or making a trade as a knee-jerk reaction to a loss or gain. They would sometimes keep the entire money idle if they didn’t see a good opportunity in the market. Once, at the time of Brexit, they had liquidated my entire portfolio and kept the money in a debt fund. Which seemed fantastic to me as they weren’t taking any risks on my money.
Then came September 2017.
They sold Banknifty 24300 PE for 25 Rs. Then the Banknifty started to decline and the losses were widening day by day but they didn’t close the position. It was later bought at 500+ on the expiry day. Lost 20k per lot.
Then I don’t know what happened, maybe they took the losses on their ego or they got too much pressure from the investors, they started panicking and made some awful trades in the next six months which made me lose 50% of my portfolio.
After the losses in September;
- They took intraday positions on nifty, which I had never seen in my account, and made a loss.
- Then they sold naked Nifty futures and Nifty went high and we made a loss.
- They sold 11000 CE Feb expiry and then the market saw a huge pre-budget rally. The trade was in a huge loss and they sold 11500 PE as a hedge to that position.
- Then they closed 11000 CE with loss of 8k but kept the 11500 PE open.
- The government declared LTCG and the market started falling like anything, and the losses were too much for me to handle. I stopped checking my Angel account. The trade lost 50k per lot, which they could have easily avoided had they closed this with 11000 CE or at least when the LTCG was declared.
These days, I don’t see the calm in them that was there in the beginning. They take trades with almost all the money every month without a clear direction of the market. And the worst thing is, they don’t have stop losses. Trades with a profit potential of 1k lost 20k to 50k in my account.
I see them take trades in haste, which only result in huge losses. They had bought Nifty Mar Fut at 10400 with 10400 PE March expiry, which is in a huge loss.
So my advise to you is to wait for a few months for the market to stabilize or until you see some positive reviews from investors.
Éditer: You might want to check out this answer on similar lines - Why is Minance betting on the upside while the market is falling, what sort of analysis they do?
Modifier 2: They lost 15k per lot on 10500 PE sell and 13.5k per lot on 10400 PE & 10400 FUT combo. Lost 10% of the entire capital this month.
Répondu il y a 46w
Going anonymous because I was a customer with them and do not want them to call/message me with their promises yet again (not putting even Re. 1 with them).
Minance is not the worst company. Yes, it’s NOT the worst.
But, it’s very near to that.
Yes, I know what I say.
Voici quelques points à considérer:
- There are simply no ways to evaluate its past performance: average returns over 6 months, 1 year, 3 year, or 5 year period, highest gain, highest loss, average gain per trade, average loss per trade, etc. ZERO TRANSPARENCY.
- But that is fine, because Minance targets those people who have 0 knowledge of trading (or even investing), so they would not know what questions to ask and what information to look out for.
- Now, the problem with Minance is that 99% of whatever it does is implied. Yes, IMPLIED. You will have 0 idea how much money can you lose at the maximum; they removed their capital protection, so good luck putting your money with them.
- When they make losses, they will just ask you to load more money. And if they are losing so many times so as to blow up your initial investment, you can only guess what in the God’s name is happening there.
- Customer support is nil. Yup, nil. They are not professionals when it comes to handling issues and more often than not you will be frustrated by their speed and lack of sincerity in addressing your concerns.
- They have a small bunch of people who will post ONLY good things about the company. Well, it can be a damn nice company, but it is not perfect, BUT they will never talk about anything negative.
- And if you check their social media profiles, they WILL be in some way related to Anurag bhatia or some other member of Minance
- It’s like you ask your friends with a nice compensation to write good things about your company
- And obviously nobody can verify, because HEY! There IS NO DATA to verify!
- They have a clever way of shrugging off responsibility. After someone signs up with them, they call him a PARTNER (big word, wow) to AVOID their responsibilities that they have towards their customers.
So there goes.
If you still think I am a troll, go ahead and “invest” with them. However, do so at your own risk, but do know that you were warned.
If you don’t know anurag personally, prepare to be ignored.
That’s all. It’s completely your decision now.
Répondu il y a 41w
Risk Category : 5
Amount Invested : Jan 2017 2.5 lakh
Full exit : Dec 2017 - Capital at exit 2.53 lakhs
Résultat: <1% over 11 months
I had high hopes from Minance when I started investing with them. My primary goal was to understand different types of derivative strategies from their trades and learn. Over the initial few months, they were generating minimal gains but one bad trade wiped out all the gains. Same pattern followed.
Whenever a profit was made, it was miniscule, but loss trades would wipe out all the gains. There seemed to be very little understanding of risk / capital protection.
The relationship managers have templated answers to all your questions : “This is expected volatility and it will normalize by expiry”. “Market cannot go up all the time, there will be mean reversion” ; “we expect near term volatility but in general markets would go up”. It was so amateurish. I got fed up by their standard response with no to little understanding of market trends. It was so very clear to everyone that we are in a strong uptrend, yet they kept shorting and booking major losses. And when questioned, always the same templated answer.
While my objective was to see derivative trades, suddenly one fine day they made loads of equity/stock buy trades which was not really what I was looking for.
They promised multiple products like dashboards, rationale for trades, yet nothing was done even after 11 months.
I decided to stick around to see if things changed, but same trend. Small profits on winning trades and then large losses on others. In one of the greatest bull runs of the market where NIFTY itself returned over 25%, Minance returns for my portfolio was
They are a very young setup with little experience is what I have observed. There are many experienced PMS’s run by veteran investors who would be a better choice than Minance. I would strongly advice against allocation of large sums of capital to Minance.
Chetan Jay, Investisseur
Répondu il y a 92w · Voté par
Supratik Majumdar, Lead iOS & Automation Engineer at Minance (2017-present) · Author has 387 answers and 1.3m answer views
I have been Investing & Trading in Equities since 2012. Profits were contemptibly small. Business traveling also did not allow me to concentrate on trading.
Having followed quite a bunch of Financial Topics on Quora, I was searching for a good Wealth management company to plan my Financial goals. Lot of financial advisories / wealth management firms are rather expensive or lack clear strategies.
Few of interesting questions about Finance and Investments were answered by Mr.Anurag., Through his answers I came across his firm Minance. While most hedge funds are set up only for the rich, Minance is for everyone. I liked the idea of building investing models based on data, especially quantitative investment models.
After doing my research on Quant Funds, statistical models etc, I was convinced that this is the right firm to grow my money.
What convinced me?
Capital Protection : - I have never come across any Financial firm dealing with stock markets talk about Capital protection. You will never lose more than 5% of your invested capital. This shows the conviction & the Minance Team’s ability to deal with any type of market conditions. One can increase this cap based on the Risk appetite, I recently upped it to 10%, but default is 5%.
Managing Accounts : Every partner gets an individual Demat account through Angel broking, Fund transfer and withdrawal will be in control of account holder., Minance control is only to trade.
Des charges: Minance charges 20% performance fee., Once you redeem Minance will send an invoice, if you don't redeem you don't pay anything. Minance too loves to compound their income
Service à la clientèle: My Investment manager Mr.Adhiraj is available 24X7, I have spoken to him before opening an account and he was kind enough to clear all my doubts., Infact he asked about my Financial goals and Risk appetite. After opening an account I have spoken to him many times on trades and strategies. The maximum delay in replying so far is 2 hours.
What about returns?
I opened account in May 2016., So far with a 10% Capital protection threshold ( I have upped 5% to 10% last month) I have got a return of 43%.
Other points : For every trade taken follows an SMS from Angel and also from Minance explaining the strategy behind. I get monthly P&L statement through email, Hope Minance can provide an online tracker soon. Whenever I have any doubt on trades, I speak to my IM to understand better., same time I am learning by analysing Minance trades.
I believe in compounding and long term investments, Investing in Minance is the best decision I have taken.
Répondu il y a 36w
I am anonymous because I am thinking of taking legal actions against them. I have had tremendous faith in them and invested a pretty significant amount with them but to my utter disappointment, they are nothing but a bunch of zealous young kids trying to punch above their weight and failing miserably with it. Obviously, when you have a decent client base, there are bound to be people who make profits and the ones who lose their money. And, that sort of explains the mixed reviews they have got here.
But I will be brutally honest here and advise you to not put your hard earned money with them. Since the time they have gotten rid of the capital protection plan, they have been taking risky trades to make more money for themselves without worrying about the risks that it puts the customer in.
I can write essays about their incompetence and blatant lies. The so called ‘customer representatives’ will stuff big trading jargon down your throat and will get almost aggressive when you question their strategies. The truth is, that they don’t have a clue about what is happening with your account and the trading jargon is just a method to divert the conversation to a meaningless direction.
One really interesting observation was that they informed me when I started that trades are placed based on the risk appetite of the client by their proprietary algorithm, this could not be far from the truth. The trades are decided by a team of noobs and on their perception of the market and it is just executed with the help of an algorithm. That too me makes little sense. I mean, I could probably understand the advantage of using algorithms to execute trades if you were doing short term/intra-day trades but for the positional trades that they always do, it adds little to no value at all.
Moreover, their reading of the market is extremely poor and so is their hedging strategies (that is, if they exist). One really funny thing that I noticed while I was with them is that they will send message confirming profitable trades on the same day, but avoid/delay sending message in trades where they made losses.
I have one message to them- stop focusing on stupid marketing gimmicks that you have recently started. Your minance wonkery, shorts are nothing but a copy/paste of stuff available online. And, please do away with your useless dashboard as it displays outdated/incorrect information all the time. And, please for good heavens, start focusing on adding values to customer’s portfolio. Customers want that and not any of your stupid marketing gimmicks.
Lastly, I would warn all of you to think 10 times before you get on board with them. I have burnt my hard earned money and really would not want anyone to go through the same heart ache anymore. In case, you want more details and want to verify the authenticity of my post, just leave your e-mail address in reply to this post and I will get in touch with you.