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1
Table of Contents
Page No
5
Growth of Mutual Funds in India
6
Mutual Funds Schemes By Structure
Questionnaires 35
Abbreviations 36
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ABSTRACT
A Mutual Fund is a trust that pools the savings of the number of investors who shares a common financial goal like capital
appreciation and dividend earning. The money collected from the investors systematically invested in capital market
instruments such as shares, debentures or other securities. The income earned through these investments realized by its
investors in the proportion of number of units owned by them. Because of diversification investment and professionally
managed by the fund house at a relatively low cost create an opportunity for the investors to invest in this market. As on
31st March 2015, the mutual fund industry AUM was Rs. 11.88 lakh crores of 45 fund house of total 11606 schemes.
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CHAPTER-1
INTRODUCTION
The origin of mutual fund industry in India by Unit Trust of India (UTI) in the year 1963. In 1963, UTI was established by
an Act of Parliament. UTI was set up by the Reserve Bank of India. The first scheme, and for long one of the largest
launched by UTI, was Unit Scheme 1964.In 1978 UTI was separated from the RBI and the Industrial Development Bank
of India took over the regulatory and administrative control. , It had a monopoly till 1987-1988, the assets under
In the year 1987 public sector banks and institutions were allowed to establish mutual funds. The State Bank of India
established SBI Mutual Fund in June 1987 followed by Canbank Mutual Fund (Dec 1987), LIC Mutual Fund
(June1989),PNB Mutual Fund(Aug 89),Indian Bank Mutual Fund(Nov 1989), Bank of India Mutual Fund(Jun 1990) and
GIC Mutual Fund (Dec 1990) . From 1987-88 to 1992-93, the AUM increased 7 times from Rs 6,700 crores to Rs 47,004
crores. During this period, investors showed interest in mutual funds, allocating a larger part of their savings to
In 1993 permission granted for the entry of private sector funds. This gave the open market for the private players and
Indian investors a broader choice of 'fund families' and increasing competition to the existing public sector funds. Foreign
fund management companies were also allowed to operate mutual funds, most of them coming into India through their
joint ventures with Indian promoters. Kothari Pioneer (now merged with Franklin Templeton) was the first private sector
The 1993 SEBI (Mutual Fund) Regulations were revised more comprehensive Mutual Fund Regulations in 1996. The
current Mutual Fund industry now functions under the SEBI (Mutual Fund) Regulations 1996.
Budget of the Union Government in 1999 declared tax free of all mutual funds dividends in the hands of the investors.
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GROWTH OF MUTUAL FUNDS IN INDIA
The first phase was between 1964 to 1987 and the only player was the Unit Trust of India, which had a total asset
The second phase is between 1987 and 1993 during which period 8 Fund houses were established (LIC,GIC and 6
by Commercial Banks). From 1987-88 to 1992-93, the AUM increased 7 times from Rs 6,700 Crores to Rs
47,004 crores.
The third phase in 1993 Kothari Pioneer Mutual Fund was the first Fund established by the private sector in
Several private sectors Mutual Funds were launched in 1993 and 1994.
As at the end of financial year 2000(31st march) 32 Fund houses were functioning with Rs 1, 13,005 crores as
As at the end of January 2003, there were 33 mutual fund houses with total assets of Rs 1, 21,805 crores.
As at the end of September, 2004, there were 29 Fund houses, which manage assets of Rs.153108 crores under
421 schemes.
As on 31st March 2015, the mutual fund industry AUM was Rs. 11.88 lakh crores of 45 fund house of total 11606
schemes.
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VALUATION OF MUTUAL FUND
When a scheme is first made available for investment, it is called a New Fund Offer (NFO). During the NFO, investors
may have the chance of buying the units at their face value. Post NFO, when they buy into schemes, they need to pay a
A. Open-Ended Schemes
These schemes do not have a fixed maturity. An open-ended fund is available for subscription all through the year in
units at net asset value (NAV) related prices. The key feature is liquidity. The existing investors can buy additional
B. Close-Ended Schemes
Schemes that have a stipulated maturity period (ranging from 2 to 15 years) are called close-ended schemes. One can
invest directly in the scheme at the time of the initial issue or later from stock exchange where they are listed. There
are two exit options available to an investor after the initial offer period closes. Investors can sell the units of the
scheme on the stock exchanges where they are listed or after the maturity period. One of the characteristics of the
close-ended schemes is that they are generally traded at a discount to NAV but closer to maturity, the discount
narrows. Some close-ended schemes give you an additional option of selling units directly to the Mutual Fund
C. Interval Schemes
These combine the features of open-ended and close- ended schemes. They may be traded on the stock exchange or
may be open for sale or redemption during pre-determined intervals at NAV related prices.
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VARIOUS INVESTMENT OPTIONS MUTUAL FUNDS OFFER
To cater to different investment needs, Mutual Funds offer various investment options. Some of the important investment
options include:
A. Growth Option:
Dividends are not paid-out under the Growth Option and the investor realizes the capital appreciation by an increase
in NAV.
Dividends are paid-out to investors. However, the NAV of the mutual fund scheme falls to the extent of the dividend
payout.
Here the dividend accrued on mutual funds is automatically re-invested in purchasing additional units in open-ended
funds. In most cases mutual funds offer the investor an option of collecting dividends or re-investing the same.
Balanced Scheme
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EQUITY LINKED MUTUAL FUNDS
Equity fund schemes invest in shares of companies that are listed on the stock exchange. Equity linked mutual Funds have
the potentiality of superior returns than all other investments schemes but it carries highest risk as well.
There are different varieties of equity mutual funds offer by mutual funds companies. These are as follows:
1. LARGE CAP FUNDS: Equity oriented mutual funds that invest > 75% in CRISIL-defined Large Cap Stocks for
a minimum of six out of nine months in each period over the past 3 years.
2. MID CAP FUNDS: Equity oriented mutual funds that invest > 45% and < 75% in CRISIL-defined Large Cap
Stocks for a minimum of six out of nine months in each period over the past 3 years.
3. SMALL CAP FUNDS: Equity oriented mutual funds that invest < 45% in CRISIL-defined Large Cap Stocks for
a minimum of six out of nine months in each period over the past 3 years.
4. SECTORIAL FUNDS: Invests in specific sector so mutual fund companies purchase stocks of such companies.
Like Banking & Finance, Pharma & Healthcare, Technology sector etc.
5. THEMATIC FUNDS: Invests in bunch of sectors that are characteristics by a common theme such as
infrastructure, FMCG, cement, power etc. These thematic schemes are riskiest investment because they are
6. ARBITRAGE FUNDS: It is a kind of equity investment where fund managers take the advantages of different
price in the different markets. For instance buying a share in BSE and sale the same share in NSE at a higher
price. Most arbitrage funds take contrary positions between the equity market and the futures and options market.
7. EQUITY ORIENTED HYBRID SPECIALITY FUNDS: Speciality funds such as children plans,
education plans, etc. investing predominantly in equity oriented securities will form part of this
category.
8. ELSS (Equity linked saving Scheme): An ELSS is a diversified equity mutual fund which has a majority of the
corpus invested in equities. Investors can exit ELSS by selling it after 3 years. The biggest advantage of
investment of such scheme is that tax benefits under Section 80C of Income Tax Act 1961.
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LARGE CAPITAL FUNDS
At the end of 31st March 2015 there were 35 fund houses handing 122 large cap open ended fund with a market
capitalization of rupees seven thousand and nine hundred Crore, out of 35 fund houses only 9 fund houses handling 71
close ended schemes with market capitalization of Rs 724 crore.
Mutual fund investments are subject to market risk but that risk can reduce by systematically and professionally managed
by the fund manager. Large capital equity oriented schemes invest only blue chips stocks whose market prices down
towards movement less compare to mid-cap and small cap stocks. But till market risk cannot be ignored due to volatility
Every categories of mutual investment has some advantages and dis advantages. For some investors, large capital equity
1. Professional Management professionally managed by the fund managers and focus only large capital oriented
2. Diversification investment strategy Instead on investment on the specific sectorial based companies and industry
spreading the investment in wide range of various to reduces the risk of losses.
3. Easy exits facility - Easy exit facility gives to opportunities to the investors to prefer investment.
4. Affordability- Large capital equity oriented schemes minimum investment amount Rs 5000 so a retail investor can
easily afford to invest and in the opportunity of subsequent purchases.(ELSS schemes a person can even start
investment of Rs 500)
5. Systematic Approach to Investment- Open ended schemes offer the investment opportunities through a Systematic
Investment plan (SIP), Systematic withdrawal plan (SWP) and systematic transfers plan (STP).
6. Return Potential- These types of schemes have the capacity to give good return on investment because here fund
7. Quality Transparency Level: Daily basis up to date information to the pubic created a trust among the investors.
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DISADVANTAGES OF LARGE CAPITAL EQUITY ORIENTED SCHEMES
1. High transaction cost: As because large capital equity oriented schemes are directly investing money in the share
market so brokerage charges and high taxation leads to high transaction cost. Other cost like annual operating
expenses including management fees etc all these costs has to bear by investors which adversely affects investors
return.
2. Market Volatility: Large capital equity oriented schemes are directly investing money in the share market so if
market is not performing well which adversely affect investors schemes. Although during the negative sentiment of
the market a smart fund manager can even generate positive return by investing in derivative markets buts every
scheme has its own limitation due its own rules and regulations so market volatility cannot be ignore.
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CHAPTER-2
The need for studying the performance of Equity oriented mutual funds is to help the retail investors to
make valued judgment in selecting equity oriented funds. Information regarding investors at micro level is not available or
Null hypothesis : There is no significant difference between the returns of various large cap equity oriented mutual
OBJECTIVIES
1. To know the investors interest in various types of large cap equity oriented schemes.
2. To study the performance of selected large cap equity oriented selected schemes.
3. Comparative analysis of selected schemes with benchmark performance to find out the benchmark return
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CHAPTER-3
1. Ippolito (1992) states that investor is ready to invest in those fund or schemes which have resulted good rewards and
most investors is attracted by those funds or schemes that are performing better over the worst.
2. Sujit Sikidar and Amrit Pal Singh (1996) conducted a survey to peep in to the behavioral aspects of the investors of
the North-Eastern region in direction of equity and mutual fund investment. The survey resulted that because of tax
benefits mutual funds are preferred by the salaried and self-employed individuals. UTI and SBI schemes were catch
on in that region of the country over any other fund and the other fund had been proved archaic during the time of
survey.
3. Madhusudhan V Jambodekar (1996) conducted his study to size-up the direction of mutual funds in investors and
to identify factors influence mutual fund investment decision. The study tells that open-ended scheme is most favored
among other things that income schemes and open-ended schemes and income schemes are preferred over closed-
ended and growth schemes. Newspapers are used as information source, safety of principal amount and investor
4. Raja Rajan (1997) underlined segmentation of investors and mutual fund products to increase popularity of mutual
funds.
5. Goetzman (1997) opined that investors psychology affects mutual fund selection for investment in and to withdraw
from fund.
6. Debasish (2009) studied the performance of selected schemes of mutual funds based on risk and return models and
measures. The study covered the period from April 1996 to March 2005 (nine years). The study revealed that Franklin
Templeton and UTI were the best performers and Birla Sun life, HDFC and LIC mutual funds showed poor
performance.
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7. Prabakaran and Jayabal (2010) evaluated the performance of mutual fund schemes. The study conducted is on a
sample of 23 schemes which were chosen basing on the priority given by the respondents in Dharmapuri district in a
survey and covers the study from April 2002 to March 2007. The study used themethodology of Sharpe and Jensen
The results of the study found that 13 schemes out of 23 schemes selected had superior performance than the
benchmark portfolio in terms of Sharpe ratio, 13 schemes had superior performance of Treynor ratio and 14 schemes
8. Garg (2011) examined the performance of top ten mutual funds that was selected on the basis of previous
yearsreturn. The study analyzed the performance on the basis of return, standard deviation, beta as well as
Treynor, Jensen and Sharpe indexes. The study also used Carharts four-factor model for analyze the
performance of mutual funds. The results revealed that Reliance Regular Saving Scheme Fund had achieved
the highest final score and Canara Robeco Infra had achieved the lowest final score in the one year category.
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CHAPTER-4
Period of study: Daily Net Asset Value movement starting from 1st April 2015 to 30th March
2017.
Tools: Simple statistical tools such as trend analysis in respect of time series.
Universe size: At the end of 31st March 2015 there were 35 fund houses handing 122 large
cap open ended schemes with a market capitalization of Rs 7900 Crore, out of
35 fund houses only 9 fund houses handling 71 close ended schemes with
market capitalization of Rs 724 Crore.
Sample: Total 122 large cap open ended equity oriented schemes top 5 schemes will be
analyzed in respect of AUM dated 31st March 2015. Total 71 large cap close
ended equity oriented schemes top 5 schemes will be analyzed in respect of
AUM dated 31st March 2015.
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CHAPTER-5
The primary study focuses on the perceptions of the Mutual Funds investors about large capital equity oriented schemes.
A survey was conducted in Delhi during the month of May 2017. A pre tested questionnaire was served to the 30
respondents who have prior knowledge of Mutual fund various categories of investment and their features. The questions
as related to Mutual funds large capital equity oriented schemes investment, risk factors and expectations of returns.
RESPONDENT PROFILE
The questionnaire has been served to fifteen target respondents. Responses from fifteen respondents have been considered
1. To their Qualification.
2. To their age.
9. Factors to be consider while selecting existing large capital equity oriented Schemes.
10. Type of large capital equity oriented schemes investors prefer most.
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Primary Data Analysis
Questionnaires data have been analyzed via chart diagram for easier to understand which mentions below:
1. Qualification of Investors
Majority of investors are Post Graduate, while under others professionals like CA, Cost Accountant, Company Secretary
2. Age of Investors
41-50 years 10
Population
31-40 years 14
0 2 4 6 8 10 12 14 16
From the above bar chart, we can say that the highest number of investors belong to the age group between 31 to 40 years
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3. Monthly Family Income of Investors
Population
Different earning groups of people are investing money in mutual funds. But earning groups below rupees fifteen
thousand have not been consider because they are less savers due to high cost of living in Delhi even though if they save
then also mutual funds investment may not be best attractively option for them it may be cause of lack of awareness
because now only investing rupees five hundreds a investors can join in this investment arena.
Low Risk 6
Liquidity 4
High Return 16 Population
Company reputation 4
0 2 4 6 8 10 12 14 16 18
Majority of Investors are giving most preference to higher return before investing in mutual funds.
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5. Which factor of mutual fund allure you most?
From the above graph it is clear that better return is the main criteria for choosing investment in mutual funds but also tax
benefits, Market oriented investment and Regular income are the other factors of mutual funds investments.
10
6
Population
Out of Total savings majority of investors invest 10-25% of savings in mutual funds.
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7. Expectations of Return
Expectations of Return
14
10
Population
4
2
Majority of investors expect return from the scheme 15-20% where they invest. As because Investors have Prior
8
6
4 Population
Majority of investors prefer to select a scheme which has already given good return in the past.
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9. Factors focused most while selecting a particular Fund
8
6
4 Population
From the chart majority of investors before investing prefer to invest on the scheme in respect of growth of NAV fund but
also growth of asset under management, company reputation and fund managers track record also effect on investment
decisions.
10. large cap equity Scheme you prefer most for investing
Here investors prefer to invest diversified schemes because of flexibility of changes investment as per opportunities.
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SECONDARY DATA ANALYSIS
Secondary data which is collected for the study from the various websites information regarding large Capitalization
Equity Oriented Fund at the end of 31st March 2015 there were 35 fund houses handing 122 large cap open ended schemes
with a market capitalization of Rs 7900 Crore, out of 35 fund houses only 9 fund houses handling 71 close ended schemes
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1. Birla Sun Life Frontline Equity Fund - Growth
Amout in Crore
Above chart shows the quarterly growth of Assets Under Management of Birla Sun Life Frontline Equity Fund Growth
8000
6000 Nifty 50
4000
Birla Sun Life Frontline Equity
2000 Fund - Growth
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that Birla Sun Life Frontline
Equity Fund Growth Option is better performer then the benchmark which is taken as Nifty 50.
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2. L&T Equity Fund-Dividend Option
2,402.90
Amount in Crore
2,275.50
Above chart shows the quarterly growth of Assets Under Management of L&T Equity Fund-Dividend Option in the eight
consecutive quarters which is in mixed trends but majority is in the positive node.
4000
L&T Equity Fund-Direct Plan-
2000 Dividend Option
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that L&T Equity Fund-
Dividend Option is under performer then the benchmark which is taken as Nifty 50.
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3. Sbi Blue Chip Fund-Regular Plan Growth
2,741.60
2,321.10
1,737.10
Above chart shows the quarterly growth of Assets Under Management of SBI Blue Chip Fund-Regular Plan Growth in the
8000
Nifty 50
6000
4000
SBI BLUE CHIP FUND-
2000
REGULAR PLAN GROWTH
0
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that Sbi Blue Chip Fund-
Regular Plan Growth is better performer then the benchmark which is taken as Nifty 50.
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4. HDFC Growth Fund - Growth Option
Amount in Crore
Above chart shows the quarterly growth of Assets Under Management of HDFC Growth Fund Growth Option in the eight
2000
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that HDFC Growth fund
Growth option is better performer then the benchmark which is taken as Nifty 50.
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5. Franklin India Blue chip Fund- Direct Growth
2223.2
2021.4
1872.1
1694.4
Amount in Crore 1458.1
1183.7 1263.7
Above chart shows the quarterly growth of Assets Under Management of Franklin India Blue chip Fund- Direct Growth
8000 Nifty 50
6000
Franklin India Bluechip Fund-
4000 Direct - Growth
2000
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that Franklin India Blue chip
Fund- Direct Growth is better performer then the benchmark which is taken as Nifty 50.
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CLOSED ENDED LARGE CAPITALIZATION EQUITY FUND
258.2
Above chart shows the quarterly growth of Assets Under Management of ICICI Prudential Value Fund Series I Dividend
option in the eight consecutive quarters which is in very sharply falling in the consecutive quarter.
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that ICICI Prudential Value
Fund Series I Dividend option is under performer then the benchmark which is taken as Nifty 50.
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7. ICICI Prudential Growth Fund- Series 1 Dividend
583.5 583.5
572.9
564.5
Amount in Crore
535.3 539.1
Above chart shows the quarterly growth of Assets Under Management of ICICI Prudential Growth Fund Series I Dividend
4000
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that ICICI Prudential
Growth Fund Series I Dividend option is under performer then the benchmark which is taken as Nifty 50.
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8. ICICI Prudential Value Fund - Series 2 Dividend
172.5
Above chart shows the quarterly growth of Assets Under Management of ICICI Prudential Value Fund Series 2 Dividend
option in the eight consecutive quarters which is in very sharply falling in the consecutive quarter.
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that ICICI Prudential Value
Fund Series 2 Dividend option is under performer then the benchmark which is taken as Nifty 50.
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9. ICICI Prudential Growth Fund - Series 2 Dividend
Above chart shows the quarterly growth of Assets Under Management of ICICI Prudential Growth Fund Series 2 Dividend
8000
Nifty 50
6000
ICICI Prudential Growth Fund -
4000 Series 2 Dividend
2000
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that ICICI Prudential
Growth Fund Series 2 Dividend option is better performer then the benchmark which is taken as Nifty 50.
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10. DSP Black Rock 3 Years Close Ended Equity Fund - Regular Plan - G
Amount in Crore
Above chart shows the quarterly growth of Assets Under Management of DSP Black Rock 3 Years Close Ended Equity
Fund - Regular Plan Growth option in the eight consecutive quarters which is in positive trends.
5000
DSP BlackRock 3 Years Close
Ended Equity Fund - Regular
0 Plan - Growth
In respect to comparative study of NAV movement of investment Rs 10000, it has been seen that of DSP Black Rock 3
Years Close Ended Equity Fund - Regular Plan Growth option is better performer then the benchmark which is taken as
Nifty 50.
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Comparative Analysis between Fund and Bench mark Return
Nifty 50 20.50%
Birla Sun Life Frontline Equity Fund - Growth 9.95%
2.19%
L&T Equity Fund-Dividend Option Nifty 50 9.95%
18.69%
Sbi Blue Chip Fund-Regular Plan Growth Nifty 50 9.95%
21.53%
HDFC Growth Fund - Growth Option Nifty 50 9.95%
17.56%
Franklin India Bluechip Fund- Direct - Growth Nifty 50 9.95%
-9.01%
ICICI Prudential Value Fund - Series 1 -Dividend Nifty 50 9.95%
2.71%
ICICI Prudential Growth Fund- Series 1 Dividend Nifty 50 9.95%
-9.28%
ICICI Prudential Value Fund - Series 2 - Dividend Nifty 50 9.95%
13.62%
ICICI Prudential Growth Fund - Series 2 Dividend Nifty 50 9.95%
DSP Black Rock 3 Years Close Ended Equity Fund - Regular 33.38% 9.95%
Nifty 50
Plan - G
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CHAPTER-6
From the Primary data analysis I have come to the conclusion that smart and educated customers only prefer to select
investment mutual fund as an option for investment. Majority of the Investors belongs to the age group between 30 to 50
years they are investing money in the various mutual funds schemes out of which between 31 years to 40 years are most
risk takers and most aggressive while considering their return expectations. A stable earning is also a factor to invest in
regular interval in Mutual funds various schemes because of Systematic Investment Plan (SIP) option choose. High
expectation of return attracts investors to invest in the mutual fund investment. While investing in the Mutual fund
investments investors are cautious they are risk spreader which is result of they are investing a certain percentage of
investment in Mutual fund not the full savings money. When its come to select scheme to invest investors prefer to look
at past track record of specific scheme and then they select a scheme. As because investors investing in large capitalized
scheme and it have been observed from the primary survey that diversification type of schemes is the most preferable type
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SECONDARY DATA ANALYSIS
From the primary data analysis it has been observed that investors preferring invest money in the scheme which is
better performing and which has a good track record so HDFC Growth Fund - Growth Option and Birla Sun Life Frontline
Equity Fund Growth option has given better return compare to other three schemes and we have to remember that
HDFC is the second largest fund house followed by ICICI and Birla sun life is also held fourth position.
From the close ended 71 large capitalized schemes 26 schemes alone holding by ICICI.ICICI was the second largest fund
house as per 31st March 2015 but in march year ended 2017 it has become the largest player in the entire mutual fund
industry and majority of the starting schemes are the most successful closed ended schemes which has largest asset under
management. Although majority of the selected close ended schemes of ICICI Prudential Fund has not given satisfactory
result in that respect I can say DSP Black Rock 3 Years Close Ended Equity Fund - Regular Plan Growth option is the
best performing fund in terms of return as a result we are seeing that the assets under management is in increasing trends
in quarter to quarters.
CONCLUSION:
Diversification nature of investment schemes are the most preferred choice of investment strategy. Open ended schemes
are better option to invest in terms of return prospective and those types of schemes are preferred most who has given
good return in the previous years whereas closed ended schemes major schemes funds AUM reduces over the years due
to poor performance.
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QUESTIONNAIRE ON EQUITY ORIENTED MUTUAL FUND
Name:
Address:
Contact Number:
5. Which features of the mutual funds allure you most? Pl tick ().
a) Diversification of Investment d) Regular income
b) Better return and safety e) Tax Benefits
c) Professionally manage
investment
6. From your total savings Percentage contribution towards investment in Mutual Fund? Pl
tick ().
a) Below 10% d) 50%- 75%
b) 10%-25% e) Above 75%
c) 25%-50%
7. Percentage of return per annum that you are expecting? Pl tick ().
a) 5%-10% c) 15%- 20%
b) 10%-15% d) Above 20%
8. Reason for choosing for the Large Cap type of Scheme? Pl tick ().
a) High Return b) Safe & Secure Return c) Recommendation by Advisor d) Goodwill
of scheme
9. While selecting existing any large cap Fund under equity oriented scheme factors focuses
by you most?
a) Growth of NAV c) Company Reputation
b) Growth of Asset Under d) Fund Manager Track Record
Management
10. Which type of large cap equity Scheme you prefer most for investing? Pl tick ().
a) Thematic b) Diversified c)Index d) Arbitrage
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LIST OF ABBREVIATIONS
MF Mutual Fund
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REFERENCES
1) Rajan, R. (1998). Stages in life cycle and investment pattern. The Indian Journal of Commerce,
27-36.
3) Shah, S. M. (2012). Preference of Investors for Indian Mutual Funds and its Performance
Evaluation. Pacific Business Review International, 62-76.
5) Vyas, R. (2012). Mutual Fund Investors Behavior and Perception in Indore City. Journal of
Arts,Science and Commerce, 67-75.
8) Garg, Sanjay (2011). A Study on Performance Evaluation of Selected Indian Mutual Funds.
International Journal of Innovation Creativity and Management (IJICM), 1(1), 1-10.
years).
WEB SITES:
1. http://www.slideshare.net/navnit1188/performance-evaluation-of-mutual-funds-4912211
2. http://mutualfunds.about.com/od/analyzingamutualfund/a/How-To-Analyze-Mutual-Fund-
Performance.htm
3. http://www.moneycontrol.com/mutual-funds
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