UNIVERSITY OF MUMBAI

PROJECT REPORT ENTITLED

INVENTORY MANAGEMENT IN HINDUSTAN INSECTICIDES LIMITED

BACHELOR ACCOUNTING AND FINANCE

(BAF)

2019-20

PROJECT GUIDE

PROF. ARUSHI DUBE

SUBMITRTED By

SAYALI SANJAY MHATRE

T.Y .B.A.F

SPECIALIZATION IN

ACCOUNTING AND FINANCE

MAHATMA EDUCATION SOCIETY'S

PILLAI COLLEGE OF ART, SCIENCE& COMMERCE

RASAYNI 410207
 DECLARATION

I The Undersigned

Miss. SAYALI SANAJAY MHATRE

Here By, Declare That The Work Embodied In This Project Work.
Titled : “INVENTORY MANAGEMENT OF HINDUSTAN
INSECTICIDES LIMITED COMPANY”.

From My Own Contribution To The Research Work Carried Out Under The
Guidance Of PROF. ARUSHI DUBE Is A Result Of My Own Research Work And
Has Not Been Previously Submitted To Any Other University For Any Other Degree
To This Or Any Other University.

Wherever Reference Has Been Made To Pervious Work Of Others, It Has Been
Clearly Indicated As Such And Include In The Bibliography.

I, Here By Further Declare That All Information Of This Document Has Been
Obtained And Presented In Accordance With Academic Rules And Ethical Conduct.

Name and signature of the learner

SAYALI SANJAY MHATRE

Certified by

Name of signature of the Guiding Teacher

INVENTORY MANAGEMENT OF HINDUSTAN INSECTICIDES LIMITED

A project submitted to

UNIVERSITY OF MUMBAI FOR PARTIAL COMPLETION OF THE

DEGREE OF

BACHELOR IN COMMERCE ( ACCOUNTING AND FINANCE)

UNDER THE FACULTY OF COMMERCE

BY

MISS. SAYALI SANJAY MHATRE.

UNDER THE GUIDANCE OF

PROF. ARUSHI DUBE

2019-20
 ACKNOWLEDGEMENT

To list who all have helped me is difficult they are so numerous and the depth is so
enormous.

I would like to acknowledge the following asbeing idealistic channels and fresh
dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do
this projrct.

I would like to thank my Principal: Dr. Lata Menon for providing the necessary
facilities required for completion of this project.

I take this to thank our Coordinator: Prof. Swita Roy Choudhaey, for her moral
support and guidance.

I would also like to express my sincere gratitude towards my Project Guide Prof.
Aurshi Dube whose guidance and made the project successful.

I would like to thank my college library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me
in the completion of the project especially my Parents and Peers who supported me
throughout my project.

Page 1
Page 2
 INDEX

SR. PATICULAR PAGE

NO. NO.
CHAPTER 1
1.1 INTRODUCTION OF INVENTORY MANAGEMENT 4
1.2 OBJECTIVE OF INVENTORY MANAGEMENT 5
CHAPTER 2
2.1 COMPANY PROFILE 6
2.2 HISTORY OF THE COMPANY 7
2.3 VISION & MISSION 8
2.4 HIL COMPANY OF DIRECTORY 9
2.5 STRUCTURE OF AGRO-CHEMICAL INDUSTRY 10
PER-CAPITA INCOME RISES 6.6% IN 2019-20,
2.6 REVEALS ECONOMIC SURVEY 11
CHAPTER 3
3.1 RESEARCH METHODOLOGY 12
3.2 THE REASONS OF KEEPIMG STOCK 14
CHAPTER 4
4.1 PRESENTATION AND ANALYSIS 16
4.2 INVENTORY CONTROL MANAGEMENT 17
4.3 INVENTORY MANAGMENET 18
4.4 TYPES OF INVENTORY MANAGEMENT 35
ADAVNCE & DISADAVANCE OF INAVENTORY
4.5 36
MANAGMENT
4.5 PARTICE PROBLEM 38
CHAPER 5
5.1 ORGANZIATION STRCTUCTER 40
5.2 WAREHOUSE 41
7 TIPS FOR WAREHOUSE INVENTORY
5.3 MANAGEMENT
42
INVENTORY MANAGEMENT: FIVE KEY TIPS FOR
5.4 DISTRIBUTIONS
45
CHAPER 6
6.1 CONCLUSION 46
6.2 BIBLIOGRAPHY 47
6.3 REFERENCE 48
Page3
A PROJECT REPOET ON STUDY OF MUTUAL FUNDS OF RELIANCE
UTI AND SBI
 INTRODUCTION
Mutual fund is a vital link between the retail/small investors and the capital market by
mobilizing the funds from innumerable investors across the country and thereafter investing
the same in capital market in most scientific way so as to maximize the return on investment.
India’s mutual fund market has witnessed phenomenal growth over the last decade. The fund
mobilization by mutual funds in India has been on the increase since their inception in 1964.
Initialization of the policy of liberalization and reforms in the financial sector has brought about
a sea change in income, consumption, savings and investment pattern of average household in
India. Presently about 25 % of the total investment in the capital market in India has been made
by the small investors, who total up to about 5 cores in number either directly or through mutual
funds. The Indian equity market has gained significantly during the recent years and mutual
funds are not left far behind. Both the avenues have created wealth for the investors. But the
equity market has been attracted much more attention than the mutual fund market. The
consistency in the performance of mutual funds has been a major factor that has attracted many
investors. Mutual fund industry in India is in its growth phase and possesses a tremendous
scope for development which is evident from the international comparison. The growth of
mutual fund will be consistent in the near future as mutual fund investment is still a favorite
option for the retail investors. The most crucial issue which needs to be investigated is the
performance of mutual funds. This will help mutual fund companies, investors, researchers and
policy makers to get an idea of the performance of mutual funds in India. Mutual funds pool
money from the investing public and use that money to buy other securities, usually stocks and
bonds. The value of the mutual fund company depends on the performance of the securities it
decides to buy. So, when you buy a unit or share of a mutual fund, you are buying the
performance of its portfolio or, more precisely, a part of the portfolio’s value. Investing in a
share of a mutual fund is different from investing in shares of stock. Unlike stock, mutual fund
shares do not give its holders any voting rights. A share of a mutual fund represents investments
in many different stocks (or other securities) instead of just one holding.

That’s why the price of a mutual fund share is referred to as the net asset value (NAV) per
share, sometimes expressed as NAVPS. A fund’s NAV is derived by dividing the total value
of the securities in the portfolio by the total amount of shares outstanding. Outstanding shares
are those held by all shareholders, institutional investors, and company officers or insiders.
Mutual fund shares can typically be purchased or redeemed as needed at the fund’s current
NAV, which unlike a stock price doesn’t fluctuate during market hours, but it is settled at the
end of each trading day.

The average mutual fund holds hundreds of different securities, which mean mutual fund
shareholders, gain important diversification at a low price. Consider an investor who buys only
Google stock before the company has a bad quarter. He stands to lose a great deal of value
because all of his dollars are tied to one company. On the other hand, a different investor may
buy shares of a mutual fund that happens to own some Google stock. When Google has a bad
quarter, she loses significantly less because Google is just a small part of the fund’s portfolio.

DEFINITION OF MUTUAL FUND

“Mutual funds are collective savings and investment vehicle where savings of small investor
are pool together to invest for their mutual benefit and returns distributed proportionally”.

“A mutual fund is an organization which invests money in many different kinds of business
and which offer units for sale to the public as an investment”.

HISTORY OF MUTUAL FUND

The mutual fund was born from a financial crisis that staggered Europe in the early 1770s.The
British East India Company had borrowed heavily during the preceding boom years to support
its ambitious colonial interests, particularly in North America where unrest would culminate in
revolution in a few short years.

As expenses increased and revenue from colonial adventures fell, the East India Company
sought a bailout in 1772 from the already-stressed British treasury. It was the “original too big
to fail corporation” and the repercussions were felt across the continent and indeed around the
world.

At the same time, the Dutch were facing their own challenges, expanding and exploring like
the British and taking “copy-cat risks” in a pattern that has drawn parallels to the banking crisis
of 2008.The mutual fund industry in India started in 1963 with the formation of Unit Trust of
India, at the initiative of the Government of India and Reserve Bank of India. The history of
mutual funds in India can be broadly divided into four distinct phases

First Phase - 1964-1987

Unit Trust of India (UTI) was established in 1963 by an Act of Parliament. It was set up by the
Reserve Bank of India and functioned under the Regulatory and administrative control of the
Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial
Development Bank of India (IDBI) took over the regulatory and administrative control in place
of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had
Rs. 6,700 crores of assets under management.

Second Phase - 1987-1993 (Entry of Public Sector Funds)

Public sector mutual funds set up by public sector banks and Life Insurance Corporation of
India (LIC) and General Insurance Corporation of India (GIC). SBI Mutual Fund was the first
non-UTI Mutual Fund established in June 1987 followed by Canbank Mutual Fund (Dec 87),
Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of
India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June
1989 while GIC had set up its mutual fund in December 1990.At the end of 1993, the mutual
fund industry had assets under management of Rs. 47,004 crores.

Third Phase - 1993-2003 (Entry of Private Sector Funds)

Entry of private sector in mutual fund industry in 1993, a new era started in the Indian mutual
fund industry, giving the Indian investors a wider choice of fund families. Also, 1993 was the
year in which the first Mutual Fund Regulations came into being, under which all mutual funds,
except UTI were to be registered and governed. The erstwhile Kothari Pioneer (now merged
with Franklin Templeton) was the first private sector mutual fund registered in July 1993.

The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive and
revised Mutual Fund Regulations in 1996. The industry now functions under the SEBI (Mutual
Fund) Regulations 1996. The number of mutual fund houses went on increasing, with many
foreign mutual funds setting up funds in India and also the industry has witnessed several
mergers and acquisitions. As at the end of January 2003, there were 33 mutual funds with total
assets of Rs. 1,21,805 crores. The Unit Trust of India with Rs. 44,541 crores of assets under
management was way ahead of other mutual funds.

Fourth Phase - since February 2003

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated
into two separate entities. One is the Specified Undertaking of the Unit Trust of India with
assets under management of Rs. 29,835 crores as at the end of January 2003, representing
broadly, the assets of US 64 scheme, assured return and certain other schemes. The Specified
Undertaking of Unit Trust of India, functioning under an administrator and under the rules
framed by Government of India and does not come under the purview of the Mutual Fund
Regulations. The second is the UTI Mutual Fund, sponsored by SBI, PNB, BOB and LIC. It is
registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation
of the erstwhile UTI which had in March 2000 more than Rs. 76,000 crores of assets under
management and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual
Fund Regulations, and with recent mergers taking place among different private sector funds,
the mutual fund industry has entered its current phase of consolidation and growth. The graph
indicates the growth of assets over the years.

BASIC CONCEPTS AND TERMS

❖ Asset Management Company

An Asset Management Company (AMC) is a highly regulated organization that pools money
from investors and invests the same in a portfolio. They charge a small management fee, which
is normally 1.5 per cent of the total funds managed.

❖ NAV

Net Asset Value of the fund is the cumulative market value of the assets of the fund.NAV per
unit is simply the net value of assets divided by the number of units outstanding.

❖ Exit Load

The non refundable fee paid to the Asset Management Company at the time of redemption/
transfer of units between schemes of mutual funds is termed as exit load. It is deducted from
the NAV (selling price) at the time of such redemption/ transfer.

❖ Redemption price and Re-purchasing Price

Redemption price is the price received on selling units of open-ended scheme. If the fund does
not levy an exit load, the redemption price will be same as the NAV. The redemption price will
be lower than the NAV in case the fund levies an exit load. Repurchase price is the price at
which a close-ended scheme repurchases its units. Repurchase can either be at NAV or can
have an exit load.
 ❖ Return

Return on a typical investment consists of two components. The basic is the periodic cash
receipts (or income) on the investment, either of interest or dividends. The second component
is the change in the price of the assets-commonly called the capital gain or loss.

❖ Risk

Risk in holding securities is generally associated with the possibility that realized returns will
be less than expected returns. The difference between the required rate of returns on mutual
fund investment and the risk free return is the risk premium. Risk can be measured in terms of
Beta & standard deviations.

❖ Risks involved in investing in Mutual Funds

Mutual Funds do not provide assured returns. Their returns are linked to their performance.
They invest in shares, debentures and deposits. All these investments involve an element of
risk. The unit value may vary depending upon the performance of the company and companies
may default in payment of interest/principal on their debentures/bonds/deposits. Besides this,
the government may come up with new regulation which may affect a particular industry or
class of industries.

SELECTION PARAMETERS FOR MUTUAL FUND

❖ Your objective

The first point to note before investing in a fund is to find out whether your objective matches
with the scheme. It is necessary, as any conflict would directly affect your prospective returns.
Similarly, you should pick schemes that meet your specific needs. Examples: pension plans,
children’s plans, sector-specific schemes, etc.

❖ Your risk capacity and capability

This dictates the choice of schemes. Those with no risk tolerance should go for debt
schemes, as they are relatively safer. Aggressive investors can go for equity investments.
Investors that are even more aggressive can try schemes that invest in specific industry or
sectors.
❖ Fund Manager’s and scheme track record

Since you are giving your hard earned money to someone to manage it, it is imperative that he
manages it well. It is also essential that the fund house you choose has excellent track record.
It also should be professional and maintain high transparency in operations. Look at the
performance of the scheme against relevant market benchmarks and its competitors. Look at
the performance of a longer period, as it will give you how the scheme fared in different market
conditions

❖ Cost factor

Though the AMC fee is regulated, you should look at the expense ratio of the fund before
investing. This is because the money is deducted from your investments. A higher entry load
or exit load also will eat into your returns. A higher expense ratio can be justified only by
superlative returns. It is very crucial in a debt fund, as it will devour a few percentages from
your modest returns. Also, Morningstar rates mutual funds. Each year end, many financial
publications list the year's best performing mutual funds. Naturally, very eager investors will
rush out to purchase shares of last year's top performers. That's a big mistake. Remember,
changing market conditions make it rare that last year's top performer repeats that ranking for
the current year. Mutual fund investors would be well advised to consider the fund prospectus,
the fund manager, and the current market conditions. Never rely on last year's top performers

` `
 MUTUAL FUNDS IN INDIA

In 1963, the day the concept of mutual fund took birth in India. Unit Trust of India invited
investors or rather to those who believed in savings, to park their money in UTI mutual fund.
For 30 years it was goal without a single second player. Though the 1988 year saw some new
mutual fund companies, but UTI remained in a monopoly position.

Then performance of mutual fund in India in the initial phase was not even closer to satisfactory
level. People rarely understood, and of course investing was out of question. But yes, some 24
million shareholders were accustomed with guaranteed high returns by the beginning of
liberalization of the industry in 1992. This good record of UTI became marketing tool for new
entrants. The expectation of investor touched the sky in profitability factor. However, people
were miles away from the preparedness of risk factor after the liberalization.

The net asset value (NAV) of mutual fund in India declined when stock prices started falling
in the year 1992. Those days, the market regulations did not allow portfolio shifts into
alternative investment. There was rather no choice apart from holding the cash or to further
continue investing in shares. One more thing to be noted, since only close end funds were fluted
in the market, the investors disinvested by selling at loss in the secondary market. The
performance of mutual fund in India suffered quantitatively. The 1992 stock market scandal,
the losses by disinvestment and of course the lack of transparent rules in the whereabouts
rocked confidence among the investors. Partly owing to a relatively weak stock market
performance, mutual funds have not yet recovered, with funds trading at an average discount
of 1020 percent of their net asset value.

The securities exchange board of India (SEBI) came out with comprehensive regulation in
1993which defined the structure of mutual fund and Asset Management Companies for the first
time.

The supervisory authority adopted a set of measures to create a transparent and comprehensive
environment in mutual funds. Some of them were like relaxing investment restrictions into the
market, introduction of open-ended funds, and having the gateway of mutual fund to launch
pension schemes. The measure was taken to make mutual fund the key instrument for long
term saving. The more the variety offered the quantative will be investor. Several private
sectors mutual funds were launched in 1993 and 1994. The share of the private players has
risen rapidly since then. Currently there are 34 mutual funds organization in India managing
1,02,000 crore.

At last to mention, as long as mutual fund companies are performing with lower risk and higher
profitability within a short span of time, more and more people will be include until and unless
they are fully educated with the dos and don’ts of mutual funds.

Mutual fund industry has been a lots of changes in their past few years with multinational
companies coming into the country, bringing in their professionals expertise in managing funds
worldwide. In India past few months there has been a consolidation phase going on in the
mutual fund industry in India. Now investors have a wide range.

STRUCTURE OF A MUTUAL FUND

India has a legal framework within which Mutual Fund have to be constituted. In India open
and close-end funds operate under the same regulatory structure i.e. as unit Trusts. A Mutual
Fund in India is allowed to issue open-end and close-end schemes under a common legal
structure. The structure that is required to be followed by any Mutual Fund in India is laid down
under SEBI (Mutual Fund) Regulations, 1996.

➢ FUND SPONSER

Sponsor is defined under SEBI regulations as any person who, acting alone or in combination
of another corporate body establishes a Mutual Fund. The sponsor of the fund is akin to the
promoter of a company as he gets the fund registered with SEBI. The sponsor forms a trust and
appoints a Board of Trustees. The sponsor also appoints the Asset Management Company as
fund managers. The sponsor either directly or acting through the trustees will also appoint a
custodian to hold funds assets. All these are made in accordance with the regulation and
guidelines of SEBI. As per the SEBI regulations, for the person to qualify as a sponsor, he must
contribute at least 40% of the net worth of the Asset Management Company and possesses a
sound financial track record over 5 years prior to registration.

➢ MUTUAL FUNDS AS TRUSTS:

A Mutual Fund in India is constituted in the form of Public trust Act, 1882. The Fund sponsor
acts as a settler of the Trust, contributing to its initial capital and appoints a trustee to hold the
assets of the trust for the benefit of the unit-holders, who are the beneficiaries of the trust. The
fund then invites investors to contribute their money in common pool, by scribing to “units”
issued by various schemes established by the Trusts as evidence of their beneficial interest in
the fund. It should be understood that the fund should be just a “pass through” vehicle. Under
the Indian Trusts Act, the trust of the fund has no independent legal capacity itself, rather it is
the Trustee or the Trustees who have the legal capacity and therefore all acts in relation to the
trusts are taken on its behalf by the Trustees. In legal parlance the investors or the unit-holders
are the beneficial owners of the investment held by the Trusts, even as these investments are
held in the name of the Trustees on a day-today basis. Being public trusts, Mutual Fund can
invite any number of investors as beneficial owners in their investment schemes.

➢ TRUSTEES

A Trust is created through a document called the Trust Deed that is executed by the fund
sponsor in favor of the trustees. The Trust- the Mutual Fund – may be managed by a board of
trustees- a body of individuals, or a trust company- a corporate body. Most of the funds in India
are managed by Boards of Trustees. While the boards of trustees are governed by the Indian
Trusts Act, where the trusts are a corporate body, it would also require complying with the
Companies Act, 1956. The Board or the Trust company as an independent body, acts as a
protector of the of the unit-holders interests. The Trustees do not directly manage the portfolio
of securities. For this specialist function, an appoint of an Asset Management Company. They
ensure that the Fund is managed by ht AMC as per the defined objectives and in accordance
with the trusts deeds and SEBI regulations.
➢ THE ASSET MANAGEMENT COMPANIES:

The role of an Asset Management Company (AMC) is to act as the investment manager of the
Trust under the board supervision and the guidance of the Trustees. The AMC is required to be
approved and registered with SEBI as an AMC. The AMC of a Mutual Fund must have a net
worth of at least Rs. 10 Crores at all times. Directors of the AMC, both independent and non-
independent, should have adequate professional expertise in financial services and should be
individuals of high morale standing, a condition also applicable to other key personnel of the
AMC. The AMC cannot act as a Trustee of any other Mutual Fund. Besides its role as a fund
manager, it may undertake specified activities such as advisory services and financial
consulting, provided these activities are run independent of one another and the AMC’s
resources (such as personnel, systems etc.) are properly segregated by the activity. The AMC
must always act in the interest of the unit-holders and reports to the trustees with respect to its
activities.

➢ CUSTODIAN AND DEPOSITORIES:

Mutual Fund is in the business of buying and selling of securities in large volumes. Handling
these securities in terms of physical delivery and eventual safekeeping is a specialized activity.
The custodian is appointed by the Board of Trustees for safekeeping of securities or
participating in any clearance system through approved depository companies on behalf of the
Mutual Fund and it must fulfill its responsibilities in accordance with its agreement with the
Mutual Fund. The custodian should be an entity independent of the sponsors and is required to
be registered with SEBI. With the introduction of the concept of dematerialization of shares
the dematerialized shares are kept with the Depository participant while the custodian holds
the physical securities. Thus, deliveries of a fund’s securities are given or received by a
custodian or a depository participant, at the instructions of the AMC, although under the overall
direction and responsibilities of the Trustees.

➢ BANKERS:

A Fund’s activities involve dealing in money on a continuous basis primarily with respect to
buying and selling units, paying for investment made, receiving the proceeds from sale of the
investments and discharging its obligations towards operating expenses. Thus the Fund’s
banker plays an important role to determine quality of service that the fund gives in timely
delivery of remittances etc.
➢ TRANSFER AGENTS:

Transfer agents are responsible for issuing and redeeming units of the Mutual Fund and provide
other related services such as preparation of transfer documents and updating investor records.
A fund may choose to carry out its activity in-house and charge the scheme for the service at a
competitive market rate. Where an outside Transfer agent is used, the fund investor will find
the agent to be an important interface to deal with, since all of the investor services that a fund
provides are going to be dependent on the transfer agent.
 REGULATORY STRUCTURE OF MUTUAL FUNDS IN INDIA

The structure of mutual funds in India is guided by the SEBI. Regulations, 1996.These
regulations make it mandatory for mutual fund to have three structures of sponsor trustee and
asset Management Company. The sponsor of the mutual fund and appoints the trustees. The
trustees are responsible to the investors in mutual fund and appoint the AMC for managing the
investment portfolio. The AMC is the business face of the mutual fund, as it manages all the
affairs of the mutual fund. The AMC and the mutual fund have to be registered with SEBI.

SEBI REGULATIONS

• As far as mutual funds are concerned, SEBI formulates policies and regulates the mutual
funds to protect the interest of the investors.
• SEBI notified regulations for the mutual funds in 1993. Thereafter, mutual funds sponsored
by private sector entities were allowed to enter the capital market
• The regulations were fully revised in 1996 and have been amended thereafter from time to
time.
• SEBI has also issued guidelines to the mutual funds from time to time to protect the interests
of investors.
• All mutual funds whether promoted by public sector or private sector entities including
those promoted by foreign entities are governed by the same set of Regulations. The risks
associated with the schemes launched by the mutual funds sponsored by these entities are
of similar type. There is no distinction in regulatory requirements for these mutual funds
and all are subject to monitoring and inspections by SEBI.
• SEBI Regulations require that at least two thirds of the directors of trustee company or
board of trustees must be independent i.e. they should not be associated with the sponsors.
• Also, 50% of the directors of AMC must be independent. All mutual funds are required to
be registered with SEBI before they launch any scheme
• Further SEBI Regulations, inter-alia, stipulate that MFs cannot guarantee returns in any
scheme and that each scheme is subject to 20 : 25 condition [I.e. minimum 20 investors per
scheme and one investor can hold more than 25% stake in the corpus in that one scheme].
• Also SEBI has permitted MFs to launch schemes overseas subject various restrictions and
also to launch schemes linked to Real Estate, Options and Futures, Commodities, etc.
ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI)

With the increase in mutual fund players in India, a need for mutual fund association in India
was generated to function as a non-profit organization. Association of Mutual Funds in India
(AMFI) was incorporated on 22nd August, 1995.

AMFI is an apex body of all Asset Management Companies (AMC) which has been registered
with SEBI. Till date all the AMCs are that have launched mutual fund schemes are its members.
It functions under the supervision and guidelines of its Board of Directors.

Association of Mutual Funds India has brought down the Indian Mutual Fund Industry to a
professional and healthy market with ethical lines enhancing and maintaining standards. It
follows the principle of both protecting and promoting the interests of mutual funds as well as
their unit holders.

The Objectives of Association of Mutual Funds in India:

The Association of Mutual Funds of India works with 30 registered AMCs of the country. It
has certain defined objectives which juxtaposes the guidelines of its Board of Directors. The
objectives are as follows:

• This mutual fund association of India maintains high professional and ethical standards in
all areas of operation of the industry.
• It also recommends and promotes the top class business practices and code of conduct
which is followed by members and related people engaged in the activities of mutual fund
and asset management. The agencies who are by any means connected or involved in the
field of capital markets and financial services also involved in this code of conduct of the
association.
• AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual fund
industry.
• Associations of Mutual Fund of India do represent the Government of India, the Reserve
Bank of India and other related bodies on matters relating to the Mutual Fund Industry.
• It develops a team of well qualified and trained Agent distributors. It implements a program
of training and certification for all intermediaries and other engaged in the mutual fund
industry.
 FEATURES OF MUTUAL FUNDS

Here are some of the features of mutual funds:

• Professional Management

Mutual Fund plans are handled by licensed specialists working in the fund’s defined goal.
These specialists are accompanied by way of an investment analysis team — the specialists,
research companies, which are their products holistically and services, and performance.
The price option suited to locate the purpose of the scheme is favored. This procedure helps
provides value to acquire higher yields. They will need to pick from to meet their aims.
Although traders may disagree following their targets. Therefore, mutual funds make the
Optimal/optimally way an Individual could Invest in Indices, Commodities or Lending
(mainly Gold)

• Affordability A mutual fund stinks market and buys advantage forms in volumes. Investors
may draw vulnerability to the sort of portfolios using an investment too small as Rs. five
trillion /in mutual funds by way of a Systematic Investment prepare. The portfolio could be
costly, maintain to get an investor investment, and to get. *Susceptible to demands of the
Asset Management Corporation (AMC).
• Liquidity

With open-ended funds, traders may redeem (en-cash) part or all these trades in current net
asset values, in any given period. Mutual Funds have a propensity to be more liquid to
investments in bonds together with stocks compared. A process enables payoff. If given from
the strategy, traders may redeem their trades in Asset worth, at the mercy of load-in periods. In
which lock period is said, can’t regain sooner or his cost this interval?

• Transparency

Mutual Funds will be the type of expenditure choice. Investors get incremental info and timely
upgrades in connection with the character of investments fabricated. The fund manager’s
investment strategy is encouraging the funding, and the specific amount spent in each type of
security, etc. Additionally, the operation of the Mutual Fund is assessed by books and bureaus,
which makes it simple for traders to evaluate one fund to another.
 • Rupee -Cost Averaging

Rupee cost averaging, or SIP stipulates the buyer a disciplined means to investing a particular
total at predetermined intervals. No matter the unit value of the commitment. The number of
money fetch components raised the purchase price is reduced and reduced quality. They are
allowing one to reach a price for each unit. While decreasing the possibility of investing in
volatile markets, the plan will help out promote advantages and pitfalls.

• Regulations

All Mutual Funds are anticipated to register with the Securities Exchange Board of India
(SEBI). SEBI has set down rules to protect investors. It’s similarly compulsory for Mutual
Fund providers to register along with the Association of Mutual Funds in India (AMFI).
Comply with the standards placed in the Securities and Exchange Board of India (SEBI) and
AMFI Due to the sellers.

• Choice of Investment

Mutual Funds are the only product type that delivers the demands of everybody. You will
discover a mutual fund that fits lengthy quality that’s high. Be it a little investment or big a
lump sum that. Your advisor might help pick on the suitable fund/s for you bearing in mind
your accounts.

• Minimizing Costs

Mutual Funds aid traders in profiting from economies of scale because mutual funds pool
funds. Men and women who have a fascination and devote their funds from the benefit
class/classes. Additionally, the amount being spent on control of your money is helped by it.

• Availability of varies portfolio objective

There are more than 400 mutual fund schemes with wide variety of investment objective and
options available to investors in India. AMFI has classified mutual funds schemes into
following 7 broad categories according to their basis investment objectives.

▪ Growth
▪ Income
▪ Balanced
▪ Liquid and Money Market
 ▪ Gilt • Equity Linked Saving Scheme (ELSS)
▪ Funds of Funds

Each of these categories can further be classified into more categories. This wide range of
schemes developed over the year to meet the requirement of the investors with different
financial objectives.

Why Mutual Fund

A mutual fund is the trust that pools the savings of a number of investors who share a common
financial goal. Anybody with an investible surplus of as little as a few hundred rupees can
invest in Mutual Funds. The money thus collected is then invested by the fund manager in
different types of securities. These could range from shares to debenture to money market
instruments, depending upon the scheme’s stated objective. It gives the market returns and not
assured returns. In the long term market returns have the potential to perform better than other
assured return products.
 TYPES OF MUTUAL FUNDS SCHEMES IN INDIA

Wide variety of Mutual Fund Schemes exists to cater to the needs such as financial position,
risk tolerance and return expectations etc. thus mutual funds has Variety of flavors, Being a
collection of many stocks, an investors can go for picking a mutual fund might be easy. There
are over hundreds of mutual funds scheme to choose from. It is easier to think of mutual funds
in categories, mentioned below.

BASED ON ASSET CLASS

BASED ON STRUCTURE

BASED ON INVESTMENT GOAL

BASED ON RISK

STRUCTED MUTUAL FUNDS

❖ BASED ON ASSET CLASS

▪ Equity Funds

Equity funds primarily invest in stocks, and hence go by the name of stock funds as well. They
invest the money pooled in from various investors from diverse backgrounds into shares/stocks
of different companies. The gains and losses associated with these funds depend solely on how
the invested shares perform (pricehikes or price-drops) in the stock market. Also, equity funds
have the potential to generate significant returns over a period. Hence, the risk associated with
these funds also tends to be comparatively higher.

▪ Debt Funds

Debt funds invest primarily in fixed-income securities such as bonds, securities and treasury
bills. They invest in various fixed income instruments such as Fixed Maturity Plans (FMPs),
Gilt Funds, Liquid Funds, Short-Term Plans, Long-Term Bonds and Monthly Income Plans,
among others. Since the investments come with a fixed interest rate and maturity date, it can
be a great option for passive investors looking for regular income (interest and capital
appreciation) with minimal risks.

▪ Money Market Funds

Investors trade stocks in the stock market. In the same way, investors also invest in the money
market, also known as capital market or cash market. The government runs it in association
with banks, financial institutions and other corporations by issuing money market securities
like bonds, T-bills, dated securities and certificates of deposits, among others. The fund
manager invests your money and disburses regular dividends in return. Opting for a short-term
plan (not more than 13 months) can lower the risk of investment considerably on such funds

▪ Hybrid Funds

As the name suggests, hybrid funds (Balanced Funds) is an optimum mix of bonds and stocks,
thereby bridging the gap between equity funds and debt funds. The ratio can either be variable
or fixed. In short, it takes the best of two mutual funds by distributing, say, 60% of assets in
stocks and the rest in bonds or vice versa. Hybrid funds are suitable for investors looking to
take more risks for ‘debt plus returns’ benefit rather than sticking to lower but steady income
schemes.

• BASED ON STRUCTURE

Mutual funds are also categorized based on different attributes (like risk profile, asset class,
etc.). The structural classification – open-ended funds, close-ended funds, and interval funds –
is quite broad, and the differentiation primarily depends on the flexibility to purchase and sell
the individual mutual fund units.

✓ Open-Ended Funds Open-ended funds do not have any particular constraint such as a
specific period or the number of units which can be traded. These funds allow investors to
trade funds at their convenience and exit when required at the prevailing NAV (Net Asset
Value). This is the sole reason why the unit capital continually changes with new entries
and exits. An open-ended fund can also decide to stop taking in new investors if they do
not want to (or cannot manage significant funds).
✓ Closed-Ended Funds In closed-ended funds, the unit capital to invest is pre-defined.
Meaning the fund company cannot sell more than the pre-agreed number of units. Some
funds also come with a New Fund Offer (NFO) period; wherein there is a deadline to buy
units. NFO comes with pre-defined maturity tenure with fund managers open to any fund
size. Hence, SEBI has mandated that investors be given the option to either repurchase
option or list the funds on stock exchanges to exit the schemes.
✓ Interval Funds Interval funds have traits of both open-ended and closed-ended funds. These
funds are open for purchase or redemption only during specific intervals (decided by the
fund house) and closed the rest of the time. Also, no transactions will be permitted for at
 least two years. These funds are suitable for investors looking to save a lump sum amount
for a short-term financial goal, say, in 3-12 months.

• BASED ON INVESTMENT GOALS

➢ Growth Funds

Growth funds usually allocate a considerable portion in shares and growth sectors, suitable for
investors (mostly Millennial) who have a surplus of idle money to be distributed in riskier plans
(albeit with possibly high returns) or are positive about the scheme.

• Income Funds Income funds belong to the family of debt mutual funds that distribute their
money in a mix of bonds, certificate of deposits and securities among others. Helmed by
skilled fund managers who keep the portfolio in tandem with the rate fluctuations without
compromising on the portfolio’s creditworthiness, income funds have historically earned
investors better returns than deposits. They are best suited for risk-averse investors with a
2-3 years perspective.
• Liquid Funds Like income funds, liquid funds also belong to the debt fund category as they
invest in debt instruments and money market with tenure of up to 91 days. The maximum
sum allowed to invest is Rs 10 lakh. A highlighting feature that differentiates liquid funds
from other debt funds is the way the Net Asset Value is calculated. The NAV of liquid
funds is calculated for 365 days (including Sundays) while for others, only business days
are considered.
• Tax-Saving Funds ELSS or Equity Linked Saving Scheme, over the years, has climbed up
the ranks among all categories of investors. Not only do they offer the benefit of wealth
maximization while allowing you to save on taxes, but they also come with the lowest lock-
in period of only three years. Investing predominantly in equity (and related products), they
are known to generate non-taxed returns in the range 14-16%. These funds are best-suited
for salaried investors with a long-term investment horizon.
➢ Aggressive Growth Funds

Slightly on the riskier side when choosing where to invest in, the Aggressive Growth Fund is
designed to make steep monetary gains. Though susceptible to market volatility, one can decide
on the fund as per the beta (the tool to gauge the fund’s movement in comparison with the
market). Example, if the market shows a beta of 1, an aggressive growth fund will reflect a
higher beta, say, 1.10 or above.
• Capital Protection Funds If protecting the principal is the priority, Capital Protection Funds
serves the purpose while earning relatively smaller returns (12% at best). The fund manager
invests a portion of the money in bonds or Certificates of Deposits and the rest towards
equities. Though the probability of incurring any loss is quite low, it is advised to stay
invested for at least three years (closed-ended) to safeguard your money, and also the
returns are taxable.
• Fixed Maturity Funds Many investors choose to invest towards the of the FY ends to take
advantage of triple indexation, thereby bringing down tax burden. If uncomfortable with
the debt market trends and related risks, Fixed Maturity Plans (FMP) – which invest in
bonds, securities, money market etc. – present a great opportunity. As a close-ended plan,
FMP functions on a fixed maturity period, which could range from one month to five years
(like FDs). The fund manager ensures that the money is allocated to an investment with the
same tenure, to reap accrual interest at the time of FMP maturity.
• Pension Funds Putting away a portion of your income in a chosen pension fund to accrue
over a long period to secure you and your family’s financial future after retiring from
regular employment can take care of most contingencies (like a medical emergency or
children’s wedding). Relying solely on savings to get through your golden years is not
recommended as savings (no matter how big) get used up. EPF is an example, but there are
many lucrative schemes offered by banks, insurance firms etc.
• BASED ON RISK
✓ Very Low-Risk

Funds Liquid funds and ultra-short-term funds (one month to one year) are known for its low
risk, and understandably their returns are also low (6% at best). Investors choose this to fulfill
their short-term financial goals and to keep their money safe through these funds.

✓ Low-Risk Funds In the event of rupee depreciation or unexpected national crisis, investors
are unsure about investing in riskier funds. In such cases, fund managers recommend
putting money in either one or a combination of liquid, ultra short-term or arbitrage funds.
Returns could be 6-8%, but the investors are free to switch when valuations become more
stable.
✓ Medium-risk Funds Here, the risk factor is of medium level as the fund manager invests a
portion in debt and the rest in equity funds. The NAV is not that volatile, and the average
returns could be 9-12%. d. High-Risk Funds Suitable for investors with no risk aversion
and aiming for huge returns in the form of interest and dividends, high-risk mutual funds
 need active fund management. Regular performance reviews are mandatory as they are
susceptible to market volatility. You can expect 15% returns, though most high-risk funds
generally provide up to 20% returns.
• SPECIALIZED MUTUAL FUNDS
❖ Sector Funds Sector funds

invest solely in one specific sector, theme-based mutual funds. As these funds invest only in
specific sectors with only a few stocks, the risk factor is on the higher side. Investors are
advised to keep track of the various sector-related trends. Sector funds also deliver great
returns. Some areas of banking, IT and pharma have witnessed huge and consistent growth in
the recent past and are predicted to be promising in future as well.

❖ Index Funds

Suited best for passive investors, index funds put money in an index. A fund manager does not
manage it. An index fund identifies stocks and their corresponding ratio in the market index
and put the money in similar proportion in similar stocks. Even if they cannot outdo the market
(which is the reason why they are not popular in India), they play it safe by mimicking the
index performance.

❖ Funds of Funds

A diversified mutual fund investment portfolio offers a slew of benefits, and ‘Funds of Funds’
also known as multi-manager mutual funds are made to exploit this to the tilt – by putting their
money in diverse fund categories. In short, buying one fund that invests in many funds rather
than investing in several achieves diversification while keeping the cost down at the same time.

❖ Emerging market Funds

To invest in developing markets is considered a risky bet, and it has undergone negative returns
too. India, in itself, is a dynamic and emerging market where investors earn high returns from
the domestic stock market. Like all markets, they are also prone to market fluctuations. Also,
from a longer-term perspective, emerging economies are expected to contribute to the majority
of global growth in the following decades.

❖ International/ Foreign Funds Favored by investors looking to spread their investment to

other countries, foreign mutual funds can get investors good returns even when the Indian
Stock Markets perform well. An investor can employ a hybrid approach (say, 60% in
 domestic equities and the rest in overseas funds) or a feeder approach (getting local funds
to place them in foreign stocks) or a theme-based allocation (e.g., gold mining).
❖ Global Funds Aside from the same lexical meaning, global funds are quite different from
International Funds. While a global fund chiefly invests in markets worldwide, it also
includes investment in your home country. The International Funds concentrate solely on
foreign markets. Diverse and universal in approach, global funds can be quite risky to
owing to different policies, market and currency variations, though it does work as a break
against inflation and long-term returns have been historically high.
❖ Real Estate Funds Despite the real estate boom in India, many investors are still hesitant to
invest in such projects due to its multiple risks. Real estate fund can be a perfect alternative
as the investor will be an indirect participant by putting their money in established real
estate companies/trusts rather than projects. A long-term investment negates risks and legal
hassles when it comes to purchasing a property as well as provides liquidity to some extent.
❖ Commodity-Focused Stock Funds These funds are ideal for investors with sufficient risk-
appetite and looking to diversify their portfolio. Commodity-focused stock funds give a
chance to dabble in multiple and diverse trades. Returns, however, may not be periodic and
are either based on the performance of the stock company or the commodity itself. Gold is
the only commodity in which mutual funds can invest directly in India. The rest purchase
fund units or shares from commodity businesses.
❖ Market Neutral Funds For investors seeking protection from unfavorable market tendencies
while sustaining good returns, market-neutral funds meet the purpose (like a hedge fund).
With better risk-adaptability, these funds give high returns where even small investors can
outstrip the market without stretching the portfolio limits.
❖ Inverse/Leveraged Funds While a regular index fund moves in tandem with the benchmark
index, the returns of an inverse index fund shift in the opposite direction. It is nothing but
selling your shares when the stock goes down, only to repurchase them at an even lesser
cost (to hold until the price goes up again).
❖ Asset Allocation Funds Combining debt, equity and even gold in an optimum ratio, this is
a greatly flexible fund. Based on a pre-set formula or fund manager’s inferences based on
the current market trends, asset allocation funds can regulate the equity-debt distribution.
It is almost like hybrid funds but requires great expertise in choosing and allocation of the
bonds and stocks from the fund manager.
 ▪ Gift Funds

Yes, you can also gift a mutual fund or a SIP to your loved ones to secure their financial future.

m. Exchange-Traded Funds

It belongs to the index funds family and is bought and sold on exchanges. Exchangetraded
Funds have unlocked a new world of investment prospects, enabling investors to gain extensive
exposure to stock markets abroad as well as specialised sectors. An ETF is like a mutual fund
that can be traded in real-time at a price that may rise or fall many times in a day

ADVANTAGES OF MUTUAL FUNDS

❖ Diversification Benefit

To diversify is to reduce risk. For example, let’s say buy milk from one milkman. If someday
he falls ill, you won’t have any milk to drink! On the other hand, if buy milk from two milkmen,
If one falls ill, still have supply from the other. The chance of both the milkmen falling ill at
the same time is very low. This is why diversification is so important in investing as well. Want
to Invest Only in the Highest Returns Investment? Here Is Why Diversification Is a Better
Strategy The advantage of mutual funds is that diversification is automatically done.

❖ Professional Management

Investing is obviously not an easy task. Investing, be it in shares, real estate, gold, bonds, and
so on depends on a multitude of factors that constantly need to be studied and understood.
Many people often think they can understand the market. A great percentage of these people
end up incurring a loss. Mutual funds are that they are managed by professional experts. Thus,
to ensure your money is invested in the right place, have to choose the right mutual fund once
invested in a mutual fund, relax with the knowledge that an expert will make necessary changes
to the portfolio whenever required. This isn’t to say that shouldn’t review your investments in
mutual funds. If choose mutual fund carefully, reviewing it once a year is usually enough.
❖ Simple

While investing, the availability of information and data is particularly time consuming. If all
the information would be easily available, investing would be much simpler. In mutual funds,
the research and data collection is done by the funds themselves. All have to do is analyze the
performance Mutual fund dealers allow you to compare the funds based on different metrics,
such as level of risk, return, and price. And because the information is easily accessible, the
investor will be able to make wise decisions.

❖ Liquidity

One advantage of mutual funds that is often overlooked is liquidity. In financial jargon,
liquidity basically refers to the ability to convert your assets to cash with relative ease. For
example: If you want to sell your house, how long would it take for you to sell it and get the
cash in hand? It would take you anywhere from a few weeks, to a few months. Mutual funds
are considered liquid assets since there is high demand for many of the funds. You can,
therefore, retrieve money from a mutual fund very quickly.

❖ Cost

Mutual funds are one of the best investment options considering the costs involved. If you hire
a portfolio management service, you’ll typically be charged 2% to 3% of the total investment
per year. They will also deduct a share from your profit. Mutual funds are relatively cheaper
and deduct only 1% to 2% of the expense ratio. Debt mutual funds usually deduct even lesser.
Read more about expense ratio.

❖ Tax Benefit

Mutual funds are relatively more tax-efficient than other types of investments. Long term
capital gain tax on equity mutual fund is zero, which means, if you sell your investment one
year after purchase, you don’t have to pay tax. For debt funds, longterm capital gains apply
when you hold them for 3 years. Apart from this, there are certain classes of funds, called ELSS
funds that are exempt under section 80 C up to a limit of Rs 1.5 lakhs. Some important features
of tax-saving funds are:

• It is a surrogate route to the direct stock market

• The minimum investment is Rs 500 per month
• It has a lock-in-period of only 3-years
 • The returns are tax-free as well
❖ Start with a Small Amount

Unlike other investments like real estate or stocks, mutual funds allow you to start as small as
Rs 500. One can start with mutual funds with as low as Rs 500 or Rs 1000. Some funds, like
Reliance Small Cap Fund allow you to start with just Rs 100.

❖ Automated Investment

Mutual funds are largely beneficial because one can invest with less money. The Systematic
Investment Plan or SIP is an excellent example wherein the money gets automatically debited
from your account. You can choose a fund that suits your investing goal.

❖ Safe and Transparent

Investments in mutual funds are very transparent. All mutual fund companies come under the
purview of SEBI and they need to make necessary disclosures Value of stocks, historical
performance of the fund, fund manager’s qualification and the track records are known. The
NAV (net asset value) of the fund is updated every day. On any mutual fund page like Grow –
details about the mutual fund.

DISADVANTAGES OF MUTUAL FUNDS

❖ No control over portfolio

If you invest in a fund, you give up all control of your portfolio to the mutual fund money
managers who run it.

❖ Capital gain

Any time you sell stock, you’re taxed on your gains. However, in a mutual fund, you’re taxed
when the fund distributes gain it made from selling individual holdings even if you haven’t
sold your shares. If the fund has high turnover, or sells holding often, capital gain distribution
could be an annual event. That is, unless you’re investing via a Roth IRA, Traditional IRA, or
employer sponsored retirement plan like the 401k.

❖ Fees and expenses

Some mutual funds may assess a sales charge on all purchases also known as a “load” this is
what it costs to get into the fund. All mutual funds charge annual expense, which are
conveniratio expressed as an annual expense ratio this is basically the cost of doing business.
The expense ratio is expressed as a percentage, and is what you pay annually as a portion of
your account value. The average for managed funds around 1.5%. Alternatively, index funds
charge much lower expense ratio will eat directly into gains on an annual basis, closely compare
expense ratios for different funds that are considering.

❖ over diversification

Although there are many benefits of diversification, there are pitfalls of being over
diversified. Think of it like a sliding scale. The more securities you hold, the less likely
you are to feel their individual returns on your overall portfolio. What this means is that
though risk will be reduces, so too will the potential for gains. This may be an understood
trade off with diversification, but too much diversification can negalate the reason you
want market exposure in the first place.

❖ Cash drag

Mutual funds need to maintain asset in cash to satisfy investor redemption and maintain
liquidity for purchases. However, investor still pays to have funds sitting on cash because
annual expenses are assessed on all fund assets regardless of whether they’re invested or not.
According to a study by willam O’Reilly, CFA and Michael Preisano, CFA, maintaining this
liquidity costs investors 0.80% of their portfolio value on as annual basis.
 PROFILE OF THE COMPANY

RELIANCE COMPANY

The Reliance Mutual Fund is one of the most popular and leading mutual fund in India. The
Fund is owned by Anil Dhiru bhai Ambani Group and with respect to net worth it ranks among
the top three of all the private financial service providers in India. It is an ISO 9001:2000
certified company, which offers innovative mutual fund products to a wide pool of customers.
The Reliance mutual fund products are available in hundred and fifteen cities across India. It
is one of the fastest growing mutual fund in India and the main reason of its popularity is that
it has a wide portfolio of products that meets the requirements of each and every type of
investors. The Reliance Mutual Fund is headed by Mr. Vikrant Gugnani - the CEO of the
company.

OBJECTIVES OF THE FUND

The primary investment objective of the scheme is to seek to generate capital appreciation &
provide long-term growth opportunities by investing in a portfolio constituted of equity &
equity related securities of top 100 companies by market capitalization & of companies which
are available in the derivatives segment from time to time and the secondary objective is to
generate consistent returns by investing in debt and money market securities.
SCHEMES

EQUITY/GROWTH SCHEMES

The aim of growth funds is to provide capital appreciation over the medium to long term. Such
schemes normally invest a major part of their corpus in equities. Such funds have
comparatively high risks. Growth schemes are good for investors having a long-term outlook
seeking appreciation over a period of time.

• Reliance Infrastructure fund (Open-Ended Equity):The primary investment

objective of the scheme is to generate long term capital appreciation by investing
predominantly in equity and equity related instruments of companies engaged in
infrastructure (Airports, Construction, Telecommunication, Transportation) and
infrastructure related sectors and which are incorporated or have their area of primary
activity, in India and the secondary objective is to generate consistent returns by
investing in debt and money market securities. Investment Strategy: The investment
focus would be guided by the growth potential and other economic factors of the
country. The Fund aims to maximize long-term total return by investing in equity and
equity-related securities which have their area of primary activity in India.
• Reliance Quant Plus Fund/Reliance Index Fund (Open-Ended Equity): The
investment objective of the Scheme is to generate capital appreciation through
investment in equity and equity related instruments. The Scheme will seek to generate
capital appreciation by investing in an active portfolio of stocks selected from S & P
CNX Nifty on the basis of a mathematical model. An investment fund that approach
stock selection process based on quantitative analysis.
• Reliance Natural Resources Fund (Open-Ended Equity): The primary investment
objective of the scheme is to seek to generate capital appreciation & provide long-term
growth opportunities by investing in companies principally engaged in the discovery,
development, production, or distribution of natural resources and the secondary
objective is to generate consistent returns by investing in debt and money market
securities. Natural resources may include, for example, energy sources, precious and
other metals, forest products, food and agriculture, and other basic commodities.
 • Reliance Equity Linked Saving Fund (A 10 Year Close-Ended Equity):The primary
objective of the scheme is to generate long-term capital appreciation from a portfolio
that is invested predominantly in equities along with income tax benefit. The scheme
may invest in equity shares in foreign companies and instruments convertible into
equity shares of domestic or foreign companies and in derivatives as may be permissible
under the guidelines issued by SEBI and RBI.
• Reliance Equity Advantage Fund (Open-Ended Diversified Equity): The primary
investment objective of the scheme is to seek to generate capital appreciation & provide
long-term growth opportunities by investing in a portfolio predominantly of equity &
equity related instruments with investments generally in S & P CNX Nifty stocks and
the secondary objective is to generate consistent returns by investing in debt and money
market securities.
• Reliance Equity Fund (Open-Ended Diversified Equity): The primary investment
objective of the scheme is to seek to generate capital appreciation & provide long-term
growth opportunities by investing in a portfolio constituted of equity & equity related
securities of top 100 companies by market capitalization & of companies which are
available in the derivatives segment from time to time and the secondary objective is to
generate consistent returns by investing in debt and money market securities.
• Reliance Tax Saver (ELSS) Fund (Open-Ended Equity):

The primary objective of the scheme is to generate long-term capital appreciation from a
portfolio that is invested predominantly in equity and equity related instruments.

Tax Benefits:

➢ Investment up to Rs 1 lakh by the eligible investor in this fund would enable you to
avail the benefits under Section 80C (2) of the Income-tax Act, 1961.
➢ Dividends received will be absolutely TAX FREE.
➢ The dividend distribution tax (payable by the AMC) for equity schemes is also NIL

• Reliance Growth Fund (Open-Ended Equity): The primary investment objective of

the Scheme is to achieve long term growth of capital by investment in equity and equity
related securities through a research based investment approach.
 • Reliance Vision Fund (Open-Ended Equity): The primary investment objective of
the Scheme is to achieve long term growth of capital by investment in equity and equity
related securities through a research based investment approach.
• Reliance Equity Opportunities Fund (Open-Ended Diversified Equity): The
primary investment objective of the scheme is to seek to generate capital appreciation
& provide long-term growth opportunities by investing in a portfolio constituted of
equity securities & equity related securities and the secondary objective is to generate
consistent returns by investing in debt and money market securities.
• Reliance NRI Equity Fund (Open-Ended Diversified Equity): The Primary
investment objective of the scheme is to generate optimal returns by investing in equity
or equity related instruments primarily drawn from the Companies in the BSE 200
Index.
• Reliance Long Term Equity Fund (Open-Ended Diversified Equity): The primary
investment objective of the scheme is to seek to generate long term capital appreciation
& provide long-term growth opportunities by investing in a portfolio constituted of
equity & equity related securities and Derivatives and the secondary objective is to
generate consistent returns by investing in debt and money market securities. It is a 36-
month close ended diversified equity fund with an automatic conversion into an open
ended scheme on expiry of 36-months from the date of allotment. It aims to maximize
returns by investing 70-100% in Equities focusing in small and mid cap companies.
• Reliance Regular Savings Fund (Open-Ended Equity): Reliance Regular Savings
Fund provides you the choice of investing in Debt, Equity or Hybrid options with a
pertinent investment objective and pattern for each option. Invest as little as Rs.100/-
every month in the Reliance Regular Savings Fund. For the first time in India, your
mutual fund offers instant cash withdrawal facility on your investment at any VISA-
enabled ATM near you. With a choice of three investment options, the fund is truly, the
smart new way to invest.

DEBT/INCOME SCHEMES

The aim of income funds is to provide regular and steady income to investors . such schemes
generally invest in fixed income securities such as bonds, corporate debentures, Government
securities and money market instruments. Such funds are less risky compared to equity
schemes. These funds are not affected because of fluctuations in equity markets. However,
opportunities of capital appreciation are also limited in such funds. The NAVs of such funds
are affected because of change in interest rate in the country. if the interest rates fall, NAVs of
such funds are likely to increase in the short run and vice versa. However, long term investors
may not bother about these fluctuations.

• Reliance Monthly Income Plan : (An Open ended Fund, Monthly Income is not
assured & is subject to the availability of distributable surplus) The Primary investment
objective of the Scheme is to generate regular income in order to make regular dividend
payments to unit holders and the secondary objective is growth of capital.
• Reliance Gilt Securities Fund - Short Term Gilt Plan & Long Term Gilt Plan :
(Open-ended Government Securities Scheme) The primary objective of the Scheme is
to generate optimal credit risk-free returns by investing in a portfolio of securities
issued and guaranteed by the central Government and State Government.
• Reliance Income Fund : (An Open-ended Income Scheme) The primary objective of
the scheme is to generate optimal returns consistent with moderate levels of risk. This
income may be complemented by capital appreciation of the portfolio. Accordingly,
investments shall predominantly be made in Debt & Money market Instruments.
• Reliance Medium Term Fund : (An Open end Income Scheme with no assured
returns) The primary investment objective of the Scheme is to generate regular income
in order to make regular dividend payments to unit holders and the secondary objective
is growth of capital
• Reliance Short Term Fund : (An Open end Income Scheme) The primary investment
objective of the scheme is to generate stable returns for investors with a short
investment horizon by investing in Fixed Income Securities of short term maturity.
• Reliance Liquid Fund : (Open-ended Liquid Scheme) The primary investment
objective of the Scheme is to generate optimal returns consistent with moderate levels
of risk and high liquidity. Accordingly, investments shall predominantly be made in
Debt and Money Market Instruments.
• Reliance Floating Rate Fund : (An Open ended Liquid Scheme) The primary
objective of the scheme is to generate regular income through investment in a portfolio
comprising substantially of Floating Rate Debt Securities (including floating rate
securitised debt and Money Market Instruments and Fixed Rate Debt Instruments
swapped for floating rate returns). The scheme shall also invest in fixed rate debt
Securities (including fixed rate securitised debt, Money Market Instruments and
Floating Rate Debt Instruments swapped for fixed returns.
• Reliance NRI Income Fund : (An Open-ended Income scheme) The primary investment
objective of the Scheme is to generate optimal returns consistent with moderate levels of
risks. This income may be complimented by capital appreciation of the portfolio.
Accordingly, investments shall predominantly be made in debt Instruments.
• Reliance Liquidity Fund :(An Open - ended Liquid Scheme) The investment objective of
the Scheme is to generate optimal returns consistent with moderate levels of risk and high
liquidity. Accordingly, investments shall predominantly be made in Debt and Money
Market Instruments.
• Reliance Interval Fund :(A Debt Oriented Interval Scheme) The primary investment
objective of the scheme is to seek to generate regular returns and growth of capital by
investing in a diversified portfolio
• Reliance Liquid Plus Fund:(An Open-ended Income Scheme) The investment objective
of the Scheme is to generate optimal returns consistent with moderate levels of risk and
liquidity by investing in debt securities and money market securities.
• Reliance Fixed Horizon Fund–I: (A closed ended Scheme) The primary investment
objective of the scheme is to seek to generate regular returns and growth of capital by
investing in a diversified portfolio.
• Reliance Fixed Horizon Fund –II: (A closed ended Scheme.) The primary investment
objective of the scheme is to seek to generate regular returns and growth of capital by
investing in a diversified portfolio.
• Reliance Fixed Horizon Fund –III: (A Close-ended Income Scheme.) The primary
investment objective of the scheme is to seek to generate regular returns and growth of
capital by investing in a diversified portfolio.
• Reliance Fixed Tenor Fund : (A Close-ended Scheme) The primary investment objective
of the Plan is to seek to generate regular returns and growth of capital by investing in a
diversified portfolio
• Reliance Fixed Horizon Fund -Plan C : (A closed ended Scheme.) The primary
investment objective of the scheme is to seek to generate regular returns and growth of
capital by investing in a diversified portfolio.
• Reliance Fixed Horizon Fund - IV: (A Close-ended Income Scheme.) The primary
investment objective of the scheme is to seek to generate regular returns and growth of
capital by investing in a diversified portfolio.
• Reliance Fixed Horizon Fund - V: (A Close-ended Income Scheme.) The primary
investment objective of the scheme is to seek to generate regular returns and growth of
capital by investing in a diversified portfolio of: Central and State Government securities
and Other fixed income/ debt securities normally maturing in line with the time profile of
the scheme with the objective of limiting interest rate volatility

SECTOR SPECIFIC SCHEMES:

These are the funds/schemes which invest in the securities of specified sectors or industries
e.g. Pharmaceuticals, Software, FMCG, Petroleum stocks, etc. The returns in these funds are
dependent on the performance of the respective sectors/industries. While these funds may give
higher returns, they are more risky compared to diversified funds.

• Reliance Banking fund: Reliance Mutual Fund has an Open-Ended Banking Sector
Scheme which has the primary investment objective to generate continuous returns by
actively investing in equity / equity related or fixed income securities of banks.
• Reliance Diversified Power Sector fund: Reliance Diversified Power Sector Scheme
is an Open-ended Power Sector Scheme. The primary investment objective of the
Scheme is to seek to generate consistent returns by actively investing in equity / equity
related or fixed income securities of Power and other associated companies.
• Reliance Pharma Fund: Reliance Pharma Fund is an Open-ended Pharma Sector
Scheme. The primary investment objective of the Scheme is to generate consistent
returns by investing in equity / equity related or fixed income securities of Pharma and
other associated companies.
• Reliance Media & Entertainment Fund: Reliance Media & Entertainment Fund is an
Open-ended Media & Entertainment sector scheme. The the primary investment
objective of the Scheme is to generate consistent returns by investing in equity / equity
related or fixed income securities of media & entertainment and other associated
companies.
• Reliance gold exchange traded fund:(An open-ended Gold Exchange Traded Fund)
The investment objective is to seek to provide returns that closely correspond to returns
provided by price of gold through investment in physical Gold (and Gold related
securities as permitted by Regulators from time to time). However, the performance of
the scheme may differ from that of the domestic prices of Gold due to expenses and or
other related factors.
 UNIT TRUST OF INDIA MUTUAL FUND

'Unit Trust of India was created by the UTI Act passed by the Parliament in 1963. For more
than two decades it remained the sole vehicle for investment in the capital market by the Indian
citizens. In mid- 1980s public sector banks were allowed to open mutual funds. The real
vibrancy and competition in the MF industry came with the setting up of the Regulator SEBI
and its laying down the MF Regulations in 1993.UTI maintained its pre-eminent place till 2001,
when a massive decline in the market indices and negative investor sentiments after Ketan
Parekh scam created doubts about the capacity of UTI to meet its obligations to the investors.
This was further compounded by two factors; namely, its flagship and largest scheme US 64
was sold and re-purchased not at intrinsic NAV but at artificial price and its Assured Return
Schemes had promised returns as high as 18% over a period going up to two decades.

In order to distance Government from running a mutual fund the ownership was transferred to
four institutions; namely SBI, LIC, BOB and PNB, each owning 25%. UTI lost its market
dominance rapidly and by end of 2005 when the new shareholders actually paid the
consideration money to Government its market share had come down to close to 10%.

A new board was constituted and a new management inducted. Systematic study of its
problems role and functions was carried out with the help of a reputed international consultant.
Once again UTI has emerged as a serious player in the industry. Some of the funds have won
famous awards, including the Best Infra Fund globally from Lipper. UTI has been able to
benchmark its employee compensation to the best in the market.Besides running domestic MF
Schemes UTI AMC is also a registered portfolio manager under the SEBI (Portfolio Managers)
Regulations. This company runs two successful funds with large international investors being
active participants. UTI has also launched a Private Equity Infrastructure Fund along with HSH
Nord Bank of Germany and Shinsei Bank of Japan

VISION

To be the most Preferred Mutual Fund.

MISSION

✓ The most trusted brand, admired by all stakeholders.

✓ The largest and most efficient money manager with global presence
✓ The best in class customer service provider
✓ The most preferred employer • The most innovative and best wealth creator
✓ A socially responsible organisation known for best corporate governance

ASSEST UNDER MANAGEMENT: UTI ASSEST MANAGEMENT CO.LTD

Sponsor :

✓ State Bank of India

✓ Bank of Baroda
✓ Punjab National Bank
✓ Life Insurance Corporation of India

Trustee:

✓ UTI Trustee Co. Limited.

RELIABILITY

UTIMF has consistently reset and upgraded transparency standards. All the branches, UFCs
and registrar offices are connected on a robust IT network to ensure cost effective quick and
efficient service. All these have evolved UTIMF to position as a dynamic, responsive,
restructured, efficient and transparent entity, fully compliant with SEBI regulations.
SCHEMES

❖ EQUITY FUND
• UTI Energy Fund (Open Ended Fund): Investment will be made in stocks of those
companies engaged in the following are: Petro sector - oil and gas products & processing
All types of Power generation companies. Companies related to storage of energy.
Companies manufacturing energy development equipment related ( like petro and power )
Consultancy & Finance Companies
• UTI Transportation and logistics Fund ( Auto Sector Fund ) ( Open Ended Fund):
Investment Objective is “capital appreciation” through investments in stocks of the
companies engaged in the transportation and logistics sector. At least 90% of the funds will
be invested in equity and equity related instruments. Atleast 80% of the funds will be
invested in equity and equity related instruments of the companies principally engaged in
providing transportation services, companies principally engaged in the design,
manufacture, distribution, or sale of transportation equipment and companies in the
logistics sector. Upto 10% of the funds will be invested in cash/money market instruments..
• UTI Banking Sector Fund (Open Ended Fund): An open-ended equity fund with the
objective to provide capital appreciation through investments in the stocks of the
companies/institutions engaged in the banking and financial services activities. .
• UTI Infrastructure Fund (Open Ended Fund): An open-ended equity fund with the
objective to provide Capital appreciation through investing in the stocks of the companies
engaged in the sectors like Metals, Building materials, oil and gas, power, chemicals,
engineering etc. The fund will invest in the stocks of the companies which form part of
Infrastructure Industrie
• UTI Equity Tax Savings Plan (Open Ended Fund): An open-ended equity fund investing
a minimum of 80% in equity and equity related instruments. It aims at enabling members
to avail tax rebate under Section 80C of the IT Act and provide them with the benefits of
growth.
• UTI Growth Sector Fund – Pharma (Open Ended Fund): An open-ended fund which
exclusively invests in the equities of the Pharma & Healthcare sector companies. This fund
is one of the growth sector funds aiming to invest in companies engaged in business of
manufacturing and marketing of bulk drug, formulations and healthcare products and
services.
• UTI Growth Sector Fund – Services (Open Ended Fund): An open-ended fund which
invests in the equities of the Services Sector companies of the country. One of the growth
sector funds aiming to provide growth of capital over a period of time as well as to make
income distribution by investing the funds in stocks of companies engaged in service sector
such as banking, finance, insurance, education, training, telecom, travel, entertainment,
hotels, etc.
• UTI Growth Sector Fund – Software (Open Ended Fund): An open-ended fund which
invests exclusively in the equities of the Software Sector companies. One of the growth
sectors funds aiming to invest in equity shares of companies belonging to information
technology sector to provide returns to investors through capital growth as well as through
regular income distribution.
• UTI Master Equity Plan Unit Scheme (Close Ended Fund): The scheme primarily aims
at securing for the investors capital appreciation by investing the funds of the scheme in
equity shares of companies with good growth prospects.
• UTI Master Plus Unit Scheme (Open Ended Fund): An open-ended equity fund with
an objective of long-term capital appreciation through investments in equities and equity
related instruments, convertible debentures, derivatives in India and also in overseas
markets.
• UTI Master Value Fund (Open Ended Fund): An open-ended equity fund investing in
stocks which are currently undervalued to their future earning potential and carry medium
risk profile to provide 'Capital Appreciation'.
• UTI Equity Fund (Open Ended Fund): UTI Equity Fund is open-ended equity scheme
with an objective of investing at least 80% of its funds in equity and equity related
instrument with medium to high risk profile and upto 20% in debt and money market
instruments with low to medium risk profile.
• UTI Top 100 Fund (Open Ended Fund): An open-ended equity fund for investment in
equity shares, convertible & nonconvertible debentures and other capital and money market
instruments with a provision to invest upto 50% of its corpus in PSU's equities and equity
related products. The fund aims to provide unit holders capital appreciation & income
distribution.
• UTI Mastershare Unit Scheme (Open Ended Fund): An Open-end equity fund aiming
to provide benefit of capital appreciation and income distribution through investment in
equity.
• UTI Mid Cap Fund (Open Ended Fund): An open-ended equity fund with the objective
to provide 'Capital appreciation' by investing primarily in mid cap stocks.
• UTI MNC Fund (Open Ended Fund): An open-ended equity fund with the objective to
invest predominantly in the equity shares of multinational companies in diverse sectors
such as FMCG, Pharmaceutical, Engineering etc.
• UTI Dividend Yield Fund (Open Ended Fund): It aims to provide medium to long term
capital gains and/or dividend distribution by investing predominantly in equity and equity
related instruments which offer high dividend yield.
• UTI Opportunities Fund (Open Ended Fund): This scheme seeks to generate capital
appreciation and/or income distribution by investing the funds of the scheme in equity
shares and equity-related instruments. The focus of the scheme is to capitalise on
opportunities arising in the market by responding to the dynamically changing Indian
economy by moving its investments amongst different sectors as prevailing trends change.
• UTI Leadership Equity Fund (Open Ended Fund): This scheme seeks to generate
capital appreciation and / or income distribution by investing the funds in stocks that are
"Leaders" in their respective industries / sectors / sub-sector.
• UTI Contra Fund (Open Ended Fund): An open ended equity scheme with the objective
to provide long term capital appreciation/dividend distribution through investments in
listed equities & equity related instruments. The fund offers an opportunity to benefit from
the impact of nonrational investors' behaviour by focussing on stocks that are currently
undervalued because of emotional & behavioural patterns present in the stock market.
• UTI SPREAD Fund (Open Ended Fund): The investment objective of the scheme is to
provide capital appreciation and dividend distribution through arbitrage opportunities
arising out of price differences between the cash and derivative market by investing
predominantly in equity & equity related securities, derivatives and the balance portion in
debt securities. However, there can be no assurance that the investment objective of the
scheme will be realised.
• UTI Wealth Builder Fund (Close Ended Fund): The objective of the scheme is to
achieve long term capital appreciation by investing predominantly in a diversified portfolio
of equity and equity related instruments.
❖ INDEX FUND:

UTI Master Index Fund (Open Ended Fund): UTI MIF is an open-ended passive fund with the
primary investment objective to invest in securities of companies comprising the BSE sensex
in the same weightage as these companies have in BSE sensex. The fund strives to minimise
performance difference with the sensex by keeping the tracking error to the minimum.

UTI Gold Exchange Traded Fund (Open Ended Fund): To endeavour to provide returns that,
before expenses, closely track the performance and yield of Gold. However the performance
of the scheme may differ from that of the underlying asset due to racking error. There can be
no assurance or guarantee that the investment objective of UTI-Gold ETF will be achieved.

UTI Sunder (Open Ended Fund): To provide investment returns that, before expenses, closely
correspond to the performance and yield of the basket of securities underlying the S & P CNX
Nifty Index.

❖ ASSETS FUND

UTI Variable Investment Scheme:

UTI VIS-ILP is an open ended scheme with the objective of providing the investors with a
product that would enable them to diversify their risks through a suitable allocation between
debt and equity asset classes and thereby generate superior riskadjusted returns through a
dynamic asset allocation process.

❖ BALANCED FUND
• UTI Mahila Unit Scheme (Open Ended Fund): To invest in a portfolio of equity/equity
related securities and debt and money market instruments with a view to generate
reasonable income with moderate capital appreciation. The asset allocation will be Debt :
Minimum 70%, Maximum 100% Equity : Minimum 0%, Maximum 30%.
• UTI Balanced Fund (Open Ended Fund): An open-ended balanced fund investing between
40% to 75% in equity /equity related securities and the balance in debt (fixed income
securities) with a view to generate regular income together with capital appreciation.
• UTI Retirement Benefit Pension Fund (Open Ended Fund): The objective of the scheme
is to provide pension to investors particularly selfemployed persons after they attain the
age of 58 years, in the form of periodical cash flow upto the extent of repurchase value of
their holding through a systematic withdrawal plan.
• UTI Unit Link Insurance Plan (Open Ended Fund): To provide return through growth in
the NAV or through dividend distribution and reinvestment thereof
• UTI CCP (Children Career Plan) Advantage Fund (Open Ended Fund): An open ended
balanced fund with 70-100% investment in Equity. Investment can be made in the name of
the children up to the age of 15 years so as to provide them, after they attain the age of 18
years, a means to receive scholarship to meet the cost of higher education / or help them in
setting up a profession, practice or business or enabling them to set up a home or finance,
the cost of other social obligations.
• UTI Charitable, Religious Trust And Registered Society (Open Ended Fund): Open-ended
debt oriented Income scheme with an objective of investing not more than 30% of the funds
in equity related instruments and the balance in debt and money market instruments with
low to medium risk profile. The scheme is catering to the Investment needs of Charitable,
Religious and Educational Trusts as well as registered societies with the goal of providing
regular income.

❖ INCOME FUND (DEBT FUND)

• UTI Bond Fund (Open Ended Fund): Open-end 100% pure debt fund, which invests in
rated corporate debt papers and government securities with relatively low risk and easy
liquidity. UTI Floating Rate Fund STP (Open Ended Fund): To generate regular income
through investment in a portfolio comprising substantially of floating rate debt / money
market instruments and fixed rate debt / money market instruments.
• UTI Gilt Advantage Fund LTP(Open Ended Fund): To generate credit risk-free return
through investments in sovereign securities issued the Central and / or a State Government.
• UTI Gilt Advantage Fund STP (Open Ended Fund): To generate credit risk-free return
through investment in sovereign securities issued the Central and / or a State Government.
• UTI G-SEC STP (Open Ended Fund): An open-end Gilt-Fund with the objective to invest
only in Central Government securities including call money, treasury bills and repos of
varying maturities with a view to generate credit risk free return with a stated objective of
maintaining the average maturity of the portfolio at less than 3 years.
• UTI G-Sec-Investment Plan (Open Ended Fund): An open-end Gilt-Fund with the objective
to Invests only in Central government securities including call money, treasury bills and
repos of varying maturities with a view to generative credit risk free return. While selecting
 the maturity profile of the investment in government securities the need for maximization
of the returns and meeting of the liquidity requirements of the scheme is kept in view.
• UTI Treasury Advantage Fund (Open Ended Fund): It aims to generate attractive returns
consistent with capital preservation and liquidity
• UTI Monthly Income Scheme (Open Ended Fund): This is an open-end debt oriented
scheme with no assured returns. The scheme aims at distributing income, if any,
periodically.
• UTI Advantage Plan (Open Ended Fund): Endeavours to make periodic income distribution
to unit holders through investments in fixed income securities and equity & equity related
instruments.
• UTI Short Term Income Fund (Open Ended Fund): The Scheme seeks to generate steady
& reasonable income with low risk & high level of liquidity from a portfolio of money
market securities & high quality debt.
• UTI Capital Protection Oriented Scheme (Open Ended Fund): The investment objective of
the scheme is to endeavour to protect the capital by investing in high quality fixed income
securities as the primary objective and generate capital appreciation by investing in equity
and equity related instruments as secondary objective.
❖ LIQUID FUND (DEBT FUND):
• UTI Liquid Cash Plan (Open Ended Fund): The scheme seeks to generate steady &
reasonable income with low risk & high level of liquidity from a portfolio of money
market securities & high quality debt.
• UTI Money Market Fund (Open Ended Fund): An open-ended pure debt liquid plan
seeking to provide highest possible current income by investing in a diversified
portfolio of short-term money market securities.
 SBI MUTUAL FUND

The SBI Mutual Fund Trustee Company Private Limited was set up as a trust under the Trust
Act of 1882. This Trust controls the SBI Mutual Fund, one of India’s largest and oldest MFs.
The SBI Mutual Fund is a Joint Venture (JV) between one of India’s largest and most profitable
banks, the State Bank of India, and Amundi, which is a French asset management company.
The SBI Mutual Fund was set up on June 29, 1987 and was incorporated on February 7, 1992.
It was India’s second Mutual Fund after the Unit Trust of India started operations in 1963. In
July 2004, the SBI decided to divest 37% of the Fund and roped in Amundi as a partner.Amundi
is an asset management major created jointly by Credit Agricole and Societe Generale. SBIMF
has many firsts to its name.

It was the first Indian Mutual Fund player to launch a ‘Contra’ fund, called the SBI Contra
Fund. In 2013, SBI Mutual Fund India acquired Daiwa Mutual Fund, part of the Daiwa Group
of Japan. SBI Mutual Fund is the first in India to launch an ESG Fund. An acronym for
Environment, Social and Governance, the fund provides resources for sustainable investment
in major markets.

In 2015, the Employees’ Provident Fund of India invested Rs 5,000 Crore for the first time in
a Mutual Fund in India via SBIMF Sensex ETFs or Exchange Traded Funds. As of March
2019, the SBI Mutual Fund manages assets worth Rs 2.83 Lakh Crore. In early 2019, it moved
past Aditya Birla and HDFC Mutual Funds to emerge as the 3rd largest Mutual Fund body in
India based on Assets under Management or AUM. The SBIMF is registered with the Securities
and Exchange Board of India or SEBI. According to the latest reports, the SBI Bank Mutual
Fund has witnessed a 7% growth in AUM in 2019. This is more than any other competing MF.

GUIDING PRINCIPLES OF SBI MUTUAL FUND

❖ Consistency

Value oriented investment philosophy is designed to produce consistent results aiming to beat
the benchmark at all times. Flexibility Offers investors a broad range of managed investment
products in various asset classes and risk parameters, within the at most operational flexibility
to suit their investment needs.

❖ Stability

Our commitment to the highest quality of service and integrity are the foundation upon which
clients can build their trust with us

❖ Origin

The origin of the Indian mutual funds industry dates back to 1963 when the Unit Trust of India
(UTI) came into existence at the initiative of the Government of India and the Reserve Bank
of India. Since then the mutual funds sector remained the sole fiefdom of UTI till 1987 when
a slew of non-UTI, public sector mutual funds were set up by nationalized banks and life
insurance companies.The year 1993 saw sweeping changes being introduced in the mutual fund
industry with private sector fund houses making their debut and the laying down of
comprehensive mutual fund regulations. Over the years, the Indian mutual funds industry has
witnessed an exponential growth riding piggyback on a booming economy and the arrival of a
horde of international fund houses.

VISION:

“To be the most preffered and largest fubd house for all asset classes,with a consistant track
record of escellent returns and best standards in customer service product innovating
technology and HR practices” .

SBI MUTUAL FUND SCHEME

• SBI Equity Hybrid Fund Direct Plan Growth Fund Performance: This fund has consistently
performed above the benchmark in Aggressive segment. It has given a commendable
11.6% annual returns in the last three years. In the previous year, it delivered 15.19%
 returns. Why to invest: This fund has performed better than other funds in the same
category. The minimum SIP investment amount required to invest in this scheme is ₹500.
It is one of most notable Hybrid mutual funds in India.
• SBI Magnum Medium Duration Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Medium Duration segment. It has given a
commendable 9.41% annual returns in the last three years. In the previous year, it delivered
13.2% returns. Why to invest: This fund has performed better than other funds in the same
category. The minimum SIP investment amount required to invest in this scheme is ₹500.
It is one of most notable Debt mutual funds in India.
• SBI Magnum Children's Benefit Fund Direct Fund Performance: This fund has consistently
performed above the benchmark in Children's segment. It has given a commendable 7.96%
annual returns in the last three years. In the previous year, it delivered 3.9% returns. Why
to invest: This fund has performed better than other funds in the same category. The
minimum SIP investment amount required to invest in this scheme is ₹500. It is one of most
notable Solution Oriented mutual funds in India.
• SBI Focused Equity Fund Direct Plan Growth Fund Performance: This fund has
consistently performed above the benchmark in Focused segment. It has given a
commendable 15.66% annual returns in the last three years. In the previous year, it
delivered 21.06% returns. Why to invest: This fund has performed better than other funds
in the same category. The minimum SIP investment amount required to invest in this
scheme is ₹500. It is one of most notable Equity mutual funds in India.
• SBI Small Cap Fund Direct Growth Fund Performance: This fund has consistently
performed above the benchmark in Small Cap segment. It has given a commendable
13.28% annual returns in the last three years. In the previous year, it delivered 17.09%
returns. Why to invest: This fund has performed better than other funds in the same
category. The minimum SIP investment amount required to invest in this scheme is ₹500.
It is one of most notable Equity mutual funds in India.
• SBI Magnum Constant Maturity Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Gilt segment. It has given a commendable
10.34% annual returns in the last three years. In the previous year, it delivered 15.71%
returns. Why to invest: This fund has performed better than other funds in the same
category. The minimum SIP investment amount required to invest in this scheme is ₹500.
It is one of most notable Debt mutual funds in India.
• SBI Multi Asset Allocation Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Multi Asset Allocation segment. It has
given a commendable 7.08% annual returns in the last three years. In the previous year, it
delivered 9.53% returns. Why to invest: This fund has performed better than other funds in
the same category. The minimum SIP investment amount required to invest in this scheme
is ₹500. It is one of most notable Hybrid mutual funds in India.
• SBI Banking & Financial Services Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Sectoral/Thematic segment. It has given a
commendable 18.55% annual returns in the last three years. In the previous year, it
delivered 22.25% returns. Why to invest: This fund has performed better than other funds
in the same category. The minimum SIP investment amount required to invest in this
scheme is ₹500. It is one of most notable Equity mutual funds in India.
• SBI Magnum Income Direct Plan Growth Fund Performance: This fund has consistently
performed above the benchmark in Medium to Long Duration segment. It has given a
commendable 9.12% annual returns in the last three years. In the previous year, it delivered
15.17% returns. Why to invest: This fund has performed better than other funds in the same
category. The minimum SIP investment amount required to invest in this scheme is ₹500.
It is one of most notable Debt mutual funds in India. 10. SBI Credit Risk Fund Direct
Growth Fund Performance: This fund has consistently performed above the benchmark in
Credit Risk segment. It has given a commendable 7.59% annual returns in the last three
years. In the previous year, it delivered 8.1% returns.
• Why to invest: This fund has performed better than other funds in the same category. The
minimum SIP investment amount required to invest in this scheme is ₹500. It is one of most
notable Debt mutual funds in India.
• SBI Magnum Ultra Short Duration Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Ultra Short Duration segment. It has given
a commendable 7.61% annual returns in the last three years. In the previous year, it
delivered 7.79% returns. Why to invest: This fund has performed better than other funds in
the same category. The minimum SIP investment amount required to invest in this scheme
is ₹5,000. It is one of most notable Debt mutual funds in India. 1
• SBI Technology Opportunities Fund Direct Growth Fund Performance: This fund has
consistently performed above the benchmark in Sectoral/Thematic segment. It has given a
commendable 14.24% annual returns in the last three years. In the previous year, it
 delivered 3.59% returns. Why to invest: This fund has performed better than other funds in
the same category. The minimum SIP investment amount required to invest in this scheme
is ₹500. It is one of most notable Equity mutual funds in India.
• SBI Savings Fund Direct Growth Fund Performance: This fund has consistently performed
above the benchmark in Money Market segment. It has given a commendable 7.67% annual
returns in the last three years. In the previous year, it delivered 8.02% returns. Why to
invest: This fund has performed better than other funds in the same category. The minimum
SIP investment amount required to invest in this scheme is ₹500. It is one of most notable
Debt mutual funds in India.
• SBI Magnum MultiCap Fund Direct Growth Fund Performance: This fund has consistently
performed above the benchmark in Multi Cap segment. It has given a commendable 8.94%
annual returns in the last three years. In the previous year, it delivered 10.31% returns. Why
to invest: This fund has performed better than other funds in the same category. The
minimum SIP investment amount required to invest in this scheme is ₹500. It is one of most
notable Equity mutual funds in India.
• SBI Dynamic Bond Direct Plan Growth Fund Performance: This fund has consistently
performed above the benchmark in Dynamic segment. It has given a commendable 8.66%
annual returns in the last three years. In the previous year, it delivered 16.04% returns. Why
to invest: This fund has performed better than other funds in the same category. The
minimum SIP investment amount required to invest in this scheme is ₹500. It is one of most
notable Debt mutual funds in India.
 RESEARCH METHODOLOGY

Research Methodology actually constitutes the blue print for the collection, measurement and
analysis of the data. The process used to collect information and data for the purpose of making
business decisions. The methodology may include publication research, interview, Surveys and
other research techniques, and could include both present and historical market.

DATA COLLECTION

In order to conduct the research an appropriate methodology becomes necessary. The

information provided in this project has been collected from various sources.

The data the material for the project has been collected keeping in view the objectives of a
project and accordingly data has been found out from the following two sources:

Primary Data:

Primary data has been collected with the help of the Questionnaire. People from different
groups are included in the sample and Categorized into male and female, different age groups,
different occupations viz., Public sector, private sector, government, businessmen, self-
employed, students, Homemakers and other professionals with different income levels.

Secondary Data:

secondary data are collected from websites &journals, and books that are published.

Sample Size: The sample size of my project is limited to only 100. Out of which 75 people
attempted all questions. Other 25 not investing in M1Fs attempted only 2 questions.

Sample Area: Study is conducted only in panvel.

OBJECTIVE OF STUDY

❖ To study about the Mutual Fund

❖ To study the various Mutual Fund Scheme
❖ To study the risk and return relationship with reference to mutual fund.
❖ To study the performance indicates that can be used for mutual fund comparison.
❖ To study marketing strategies of mutual funds.
❖ To study the people in which age and income group prefer mutual funds over other
investment options.
❖ Explore the recent development in mutual funds.
❖ To evaluate investment performance of selected mutual funds in terms of risk and
return, using the various statistical tools and parameters.
❖ To compare and evaluate the performance of various schemes of mutual funds of
different assets management companies on the basis of risk, return and volatility.
❖ To analyze which of the selected mutual funds provides better return.

HYPOTHESIS

H0 People’s behavior do not change regarding risk factor involved in mutual fund.

H1 People’s behaviour change regarding risk factor involved in mutual fund.

SCOPE OF THE STUDY

❖ The study covers all the detail information about mutual funds.
❖ In the first age of mutual fund, when the investment management companies started to
offer mutual funds, choices were few.
❖ Even though people invested their money in mutual fund, as these funds offered them
diversified investment option for the first time.
❖ By investing in these funds they were able to diversify their investment in common
stock, preferred stocks, bonds and other financial securities.
❖ At the same time they also enjoyed the advantage of liquidity. With Mutual Funds,
they got scope of easy access to their invested funds on requirement.

LIMITATIONS OF THE STUDY

❖ Project was constrained by time limit of some day .

❖ Selection of the schemes is very difficult task because there are a wide variety of
schemes in each selected category. So the study is restricted to the select schemes
to asset management companies.
❖ The result of the study is confined to the present scenario of the market as the market
in India are so unpredictable in nature and future aspects of the mutual funds may
be very different from of study conducted.
 LITERATURE REVIEW

Dr. Sandeep Bansal, Deepak Garg and Sanjeev K Saini (2012): Have studied Impact of
Sharpe Ratio & Treynor’s Ratio on Selected Mutual Fund Schemes. This paper examines the
performance of selected mutual fund schemes, that the risk profile of the aggregate mutual fund
universe can be accurately compared by a simple market index that offers comparative monthly
liquidity, returns, systematic& unsystematic risk and complete fund analysis by using the
special reference of Sharpe ratio and Treynor’s ratio.

Dr. K. Veeraiah and Dr. A. Kishore Kumar (Jan 2014) Conducted a research on
Comparative Performance Analysis of Select Indian Mutual Fund Schemes. This study
analyzes the performance of Indian owned mutual fund sand compares their performance. The
performance of these funds was analyzed using a five year NAVs and portfolio allocation.
Findings of the study reveals that, mutual funds out perform naïve investment. Mutual funds
as a medium-to-long term investment option are preferred as a suitable investment option by
investors.

Dr Surender Kumar Gupta and Dr. Sandeep Bansal (Jul 2012), Have done a Comparative
Study on Debt Scheme of Mutual Fund of Reliance and Birla Sunlife. This study provides an
overview of the performance of debt scheme o of mutual fund of Reliance, and Birla Sunlife
with the help of Sharpe Index after calculating Net Asset Values and Standard Deviation. This
study reveals that returns on Debt Schemes are close to Benchmark return (Crisil Composite
Debt Fund Index:4.34%) and Risk Free Return: 6% (average adjusted for last five year)

Prof. V. Vanaja and Dr. R. Karrupasamy (2013), have done a Study on the Performance of
select Private Sector Balanced Category Mutual Fund Schemes in India. This study of
performance evaluation would help the investors to choose the best schemes available and will
also help the AUM’s in better portfolio construction and can rectify the problems of
underperforming schemes. The objective of the study is to evaluate the performance of select
Private sector balance schemes on the basis of returns and comparison with their bench marks
and also to appraise the performance of different category of funds using risk adjusted measures
as suggested by Sharpe, Treynor and Jensen.

Priyadarshini and Dr. A. Chandra Babu (2011), Have done Prediction of The Net Asset
Values of Indian Mutual Funds Using AutoRegressive Integrated Moving Average (Arima). In
this paper, some of the mutual funds in India had been modeled using Box-Jenkins
autoregressive integrated moving average (ARIMA) methodology. Validity of the models was
tested using standard statistical techniques and the future NAV values of the mutual funds have
been forecasted.

Dr. Ranjit Singh, Dr. Anurag Singh and Dr. H. Ramananda Singh(August 2011), Have
done research on Positioning of Mutual Funds among Small Town and SubUrban Investors. In
the recent past the significant proportion of the investment of the urban investor is being
attracted by the mutual funds. This has led to the saturation of the market in the urban areas. In
order to increase their investor base, the mutual fund companies are exploring the opportunities
in the small towns and sub-urban areas. But marketing the mutual funds in these areas requires
the positioning of the products in the minds of the investors in a different way. The product has
to be acceptable to the investors, it should be affordable to the investors, it should be made
available to them and at the same time the investors should be aware of it. The present paper
deals with all these issues. It measures the degree of influence on acceptability, affordability,
availability and awareness among the small town and sub-urban investors on their investment
decisions.

Prof. Kalpesh P Prajapati and Prof. Mahesh K Patel (Jul 2012), Have done a Comparative
Study On Performance Evaluation of Mutual Fund Scheme Of Indian Companies. In this paper
the performance evaluation of Indian mutual funds is carried out through relative performance
index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure,
and Fama's measure. The data used is daily closing NAVs. The source of data is website of
Association of Mutual Funds in India (AMFI). The study period is 1st January 2007 to 31st
December, 2011. The results of performance measures suggest that most of the mutual fund
have given positive return during 2007 to 2011.

C.Srinivas Yadav and Hemanth N C (Feb 2014), Have studied Performance of Selected
Equity Growth Mutual Funds in India: An Empirical Study during 1st June 2010 To 31st May
2013. The study evaluates performance of selected growth equity funds in India, carried out
using portfolio performance evaluation techniques such as Sharpe and Treynor measure. S&P
CNX NIFTY has been taken as the benchmark. The study conducted with 15 equity growth
Schemes (NAV ) were chosen from top 10 AMCs ( based on AUM) for the period 1st June
2010 to 31st may 2013(3 years).
Rashmi Sharma and N. K. Pandya (2013), Have done an overview of Investing in Mutual
Fund. In this paper, structure of mutual fund, comparison between investments in mutual fund
and other investment options and calculation of NAV etc. have been considered. In this paper,
the impacts of various demographic factors on investors’ attitude towards mutual fund have
been studied. For measuring various phenomena and analyzing the collected data effectively
and efficiently for drawing sound conclusions, drawing pie charts has been used and for
analyzing the various factors responsible for investment in mutual funds.

Rahul Singal, Anuradha Garg and Dr Sanjay Singla (May 2013), Have done Performance
Appraisal of Growth Mutual Fund. The paper examines the performance of 25 Growth Mutual
Fund Schemes. Over the time period Jan 2004 to Dec 2008. For this purpose three techniques
are used (I) Beta (II) Sharpe Ratio (III) Treynor Ratio. Rank is given according to result drawn
from this scheme and comparison is also made between results drawn from different schemes
and normally the different are insignificant. Dhimen Jani
 DATA ANLYSIS AND INTERPRETATION

POPULATION: According to the data collection method adopted, the size of the population
is 100. Thus, N=100

1. Anaysis of the preference of the respondents

Mutual funds 44%

Share/Bonds 23%
Life insurance 7%
Real estate 6%
NSC 10%
Commodities 8%
Other 2%

2 mutual funds
10
8
Shares/Bonds
44
6
insurance
7
real estate

23 commodities

NSC

others

INTERPRETATION The data collected above shows that approximately 65% of people are
aware of the market in general and 44% are aware of Mutual Funds in particular. Thus further
analysis is made on the basis of data collected; which categories of people are more aware and
inclined towards Mutual Fund. Therefore, further analysis is made as below:
2. Analysis according to Age:

28 14

Less than 35(<35)

35 to 50

58 greater tha 50(> =50

INTERPRETATION As per the above analysis, only 14% of respondents who are below 35
years are interested to invest in MF. The reasons being that there are more needs to be fulfilled
for this age group viz. education, entertainment etc. and therefore these people do not have
surplus funds to invest in saving schemes or Mutual Funds etc. The persons within the age
group of 35-50 years only 58% of respondents are interested to invest in MF. These persons
have more investing potential than their counterparts and they want to increase their income
through investing in Mutual Funds. The persons having the age equal to or above 50 years,
only 28% of respondents are interested to invest in MF. The reasons being that these persons
are more inclined
3. Analysis according to Savings from income:
Income Percentage (%)
10000 12%
10001-20000 23%
20001-30000 22%
30001-40000 15%
Above 40000 28%

income

12 % 10000
28 %
10001 - 20000
23 %
20001 - 30000
15 %
30001 - 40000
22 %
40001 above

INTERPRETATION The above analysis shows that income is 10000 are less interested to
invest in MF as compared to income above 40000. The reason being that these people have to
fulfill their basic needs first. The other reason is that low income category people are having
more consumption as compared to their savings. Income between 10001 – 20000 people, only
23% of the respondents want to invest in MF. The first and foremost reason behind this is that
these people are risk averse and want to invest in those products from which they must get
assured returns as compared to investing in Mutual Funds. Incomes between 20001–30000 are
22%. Income between 30001–40000 is only 15% of the population. Income category people,
only 28% of the respondents want to invest in MF because these people
have enough resources for their well being and it does not hurt them to invest a large chunk of
their resources in Mutual Funds.

4. Analysis according to Occupation

2%

20% 28%

government

private

business
50%
other

INTERPRETATION From the above analysis, it has been learned that around 50% of the
investor invest in mutual funds, according to them investment in mutual funds is more safe as
well as more gainer. Businessmen are also interested to invest in MF 20% of respondents who
are in business invested in MF. These people invest more in Debt schemes than in Equity
schemes. This is because Debt schemes promise a less, but secure return over equity schemes
which are more risky. Moreover, the risk profile of business men is quite moderate. Next we
see that the person working in government sectors of around 28%investment only in mutual
funds.
5. According to investment objectives:

It can be seen from the following graph that the main investment objective of most of the
investors is good returns and capital appreciation.

4%
11%

Low risk
27%
58% High risk
Liquidity
Trust

INTERPRETATION: As it can be clearly stated from above diagram that investor before
investing, the main criteria that they use to give more preference is low risk. According to
them, if a scheme is low risk, it may or may not give a very good return, but still most of the
investor chooses low risk as the option while investing mutual funds. Then we see that 27%
of the investor takes high return as one of their most important criteria. According to them, if
there is no high return then we should option for post office not mutual fund. 11% of the
investor takes trust as one of their important factor. Only 4% of the investor thinks liquidity as
their most preferable option.
6. According to qualification

Sales

under graduation

graduation

post graduation

other

INTERPRETATION: Out of my survey of 100 people, 60% of the investors are

Graduate and 25% are Post Graduate and 10% are Under Graduate and other, around
5 % which may include persons who complete their 10th standard or 12th standard invest
in mutual funds.
6. Awarness regarding mutual funds

Aware 70

Not aware 30

Not aware
30%

Aware
70%

Aware Not aware

INTERPRETATION: Form the above information Out of 100 investor 70% are aware
towards mutual funds 30% are not aware.
7. which mutual funds select while investing

SBI Mutual funds 50

UTI 30

Reliance 20

Other 0

0%
20%

50%

30%

SBI UTI Reliance other

INTERPRETATION: Form the above information out 100. 50% investor investing in SBI
mutual funds. 30% investor investing in UTI mutual funds. 20% investor investing in
Reliance.
8. Meadium to know about mutual funds

Advertisement 30

Peer group 10

Banks 40

Financial advisor 20

finacial advisor
20% advertisement
30%

poor group advertisement

banks 10%
40% poor group
banks
finacial advisor

INTERPRETATION: Form the above information out those invest in mutual funds ( is 100
investor) 40% are know about mutual funds through banks, 20% are form Financial advisor,
30% are know about through advertisement and 10% from Peer group.
9. Invested in mutual funds

Invested 60

No Invested 40

Not invested
40% Invested
Not invested

Invested
60%

INTERPRETATION: Form the above information out 100 investor 60% are investing & 40%
are not investing.
 SUGGESTATIONS

➢ To regulate entry and exit loads effectively as it creates a lot so confusion during actual
settlement of costs and bills.
➢ To better operation management so as to reduce the time lag and improve consumer
feedback
➢ To come up with more innovative schemes and products so as to expand over the largest
customer base as possible
➢ The most vital problem spotted is of ignorance. Investor should be made aware of
benefits. Nobody will invest until and unless he is fully convinced. Investors should be
made to realize that ignorance is no longer bliss and they are losing by not investing.
➢ Mutual Fund Company needs to give the training of the individual financial advisor
about the fund/scheme and its objective, because they are the main source to influence
the investors.
➢ Younger people aged fewer than 35 will be a key new customer group into the future,
so maki8ng greater efforts with younger customer who show some interest in investing
should pay off.
➢ To improve market penetration by targeting not only metros but mini-metros and
smaller towns more effectively.
➢ Mutual Fund Company needs to give the training of the individual financial advisor
about the fund/scheme and its objective, because they are the main source to influence
the investors.
➢ Before making any investment financial advisor should first enquire about the risk
tolerance of the investor/customer, their need and time (how long they want to invest).
By considering these three things they can take the customers into consideration.
➢ Customers with graduate level education are easier to sell and there is a large untapped
market there. To succeed however, advisor must provide sound advice and high quality
➢ Systematic investment plan (SIP) is the innovative product launched by Asset
Management companies very recently in the industry.
 CONCLUSION

Mutual Funds now represent perhaps most appropriate investment opportunity for most
investors. As financial markets become more sophisticated and complex, investors need a
financial intermediary who provides the required knowledge and professional expertise on
successful investing. As the investor always try to maximize the returns and minimize the risk.
Mutual fund satisfies these requirements by providing attractive returns with affordable risks.
The fund industry has already overtaken the banking industry, more funds being under mutual
fund management than deposited with banks. With the emergence of tough competition in this
sector mutual funds are launching a variety of schemes which caters to the requirement of the
particular class of investors. Risk takers for getting capital appreciation should invest in growth,
equity schemes.

Investors who are in need of regular income should invest in income plans. The stock market
has been rising for over three years now. This in turn has not only protected the money invested
in funds but has also to help grow these investments. This has also instilled greater confidence
among fund investors who are investing more into the market through the MF route than ever
before. Reliance India mutual funds provide major benefits to a common man who wants to
make his life better than previous.

India's largest mutual fund, RELIANCE, UTI and SBI still controls nearly 80 per cent of the
market. Also, the mutual fund industry as a whole gets less than 2 per cent of household savings
against the 46 per cent that go into bank deposits. Some fund managers say this only indicates
the sector's potential. "If mutual funds succeed in chipping away at bank deposits, even a triple
digit growth is possible over the next few years. Majority of the investors have good knowledge
of mutual funds. Further Experience and knowledge of the respondents seem to be positively
correlated. A large number of respondents have obtained knowledge about mutual Funds from
their friends and relatives. SBI Mutual Fund has been the most popular Mutual Fund among
the respondents followed by Prudential UTI. Mutual Funds are preferred financial assets from
return, liquidity and tax benefit point of view.

With the help of pie chart and table it is concluded that “people’s behavior do not change
regarding risk factor involved in mutual fund” i.e. null hypothesis is rejected the alternative
hypothesis is accepted i.e. “people’s behavior change regarding risk factor involved in mutal
fund’’
 BIBLIOGRAPHY

WEBSITE:

www.utimf.com

www.reliancemutual.com

www.sbimf.com

SEARCH ENGINE:

www.google.com

www.altavista.com

www.yahoo.com
Questionnaire

1. What Is Your Qualification?

▪ Under Graduate
▪ Graduate
▪ Post Graduate
▪ Other

2. What Is Your Occupation?

▪ Government job
▪ Business
▪ private job
▪ D)other

3. What Is Your Monthly Income?

▪ 10000
▪ 10000-20000
▪ 20000-30000
▪ 40000 Above

4. From Where You Came to Know About Mutual Funds?

▪ Advertisnment
▪ Peer Group
▪ Banks
▪ Financial Advisor

5. Where You Will Prefer While Investing ?

▪ Savings
▪ FD
▪ Insurance
▪ Mutual Funds
▪ Shares
▪ Real Estate
▪ Gold
▪ Other
6. Which Is Your Preference While Investing?

▪ Low Return
▪ High Risk
▪ Liquidity
▪ Trust

7. what is the awarness regarding mutual funds

▪ Aware
▪ Not aware

8 Are you Invested in mutual funds?

▪ Invested
▪ Not invested

9. which mutual funds select while investing

▪ SBI
▪ UTI
▪ Reliance
▪ Other