Beruflich Dokumente
Kultur Dokumente
ON
Submitted By
Name : Shikha
Enrollment No. : 07015603916
Semester/Batch :MBA3rdSem.
(2016-2018)
The successful completion of the project would be incomplete without the mention of the people
who made it possible.
I would like to take the opportunity to thank and express my deep sense of gratitude of my
corporate mentor, Mr. Ravi Verma. I am greatly indebted to them for providing their valuable
guidance at all stages of the study at Sharekhan Ltd., their advice, constructive suggestions,
positive and supportive attitude and continuous encouragement, without which it would have not
been possible to complete the project.
I would also like to thank Project guide, Ms. Swati Khanna (Assistant Professor) and Head of
Department Dr. Divya Gangwar who in spite of busy schedule has co-operated with me
continuously and needed, her valuable contribution and guidance have been certainly
indispensable for my project work.
I am thankful to Mr. Ravi Verma for giving me the opportunity to work with Sharekhan
Private Limited, Delhi.
I owe my whole hearted thanks and appreciation to the entire staff of the company for their
cooperation and assistance during the course of my project.
I hope that I can build upon the experience and knowledge that I have gained and make a
valuable contribution towards this industry in coming future.
SHIKHA
S. No TITLE PG.NO
1 Objective 1
2 Introduction 2
3 Company Profile 13
4 Review of Literature 17
5 Research methodology 19
6 Data analysis 21
8 Recommendation 36
10 Annexure _
CHAPTER 1
OBJECTIVES
To analyze the profile and investment objectives of Mutual Fund Investor at Sharekhan.
1
CHAPTER 2
INTRODUCTION
A mutual fund is a professionally-managed trust that pools the savings of many investors and
invests them in securities like stocks, bonds, short-term money market instruments and
commodities such as precious metals. Investors in a mutual fund have a common financial goal
and their money is invested in different asset classes in accordance with the funds investment
objective. Investments in mutual funds entail comparatively small amounts, giving retail
investors the advantage of having finance professionals control their money even if it is a few
thousand rupees.
Mutual funds are pooled investment vehicles actively managed either by professional fund
managers or passively tracked by an index or industry. The funds are generally well diversified
to offset potential losses. They offer an attractive way for savings to be managed in a passive
manner without paying high fees or requiring constant attention from individual investors.
Mutual funds present an option for investors who lack the time or knowledge to make traditional
and complex investment decisions. By putting your money in a mutual fund, you permit the
portfolio manager to make those essential decisions for you.
The trustees are vested with the power of superintendence and direction over the AMC. They
monitor the performance and compliance of SEBI regulations by the mutual fund. The trustees
are vested with the general power of superintendence and direction over AMC. They manage the
performance and compliance of SEBI Regulations by the mutual fund.
Net Asset Value (NAV) is the total asset value (net of expenses) per unit of the fund and is
calculated by the AMC at the end of every business day. In order to calculate the NAV of a
mutual fund, you need to take the current market value of the fund's assets minus the liabilities, if
any and divide it by the number of shares outstanding. NAV is calculated as follows:
3
For example, if the market value of securities of a Mutual Fund scheme is 500 lakh and the
Mutual Fund has issued 10 lakh units of 10 each to investors, then the NAV per unit of the fund
is 50.
Open-ended Fund
An open-ended fund is a fund that is available for subscription and can be redeemed on a
continuous basis. It is available for subscription throughout the year and investors can buy and
sell units at NAV related prices. These funds do not have a fixed maturity date. The key feature
of an open-ended fund is liquidity.
Close-ended Fund
a close-ended fund is a fund that has a defined maturity period, e.g. 3-6 years. These funds are
open for subscription for a specified period at the time of initial launch. These funds are listed on
a recognized stock exchange.
Interval Funds
Interval funds combine the features of open-ended and close-ended funds. These funds may trade
on stock exchanges and are open for sale or redemption at predetermined intervals on the
prevailing NAV.
Equity/Growth Funds
Equity/Growth funds invest a major part of its corpus in stocks and the investment objective of
these funds is long-term capital growth. When you buy shares of an equity mutual fund, you
effectively become a part owner of each of the securities in your funds portfolio. Equity funds
invest minimum 65% of its corpus in equity and equity related securities. These funds may invest
in a wide range of industries or focus on one or more industry sectors. These types of funds are
4
Suitable for investors with a long-term outlook and higher risk appetite.
Debt/Income Funds
Debt/ Income funds generally invest in securities such as bonds, corporate debentures,
government securities (gilts) and money market instruments. These funds invest minimum 65%
of its corpus in fixed income securities. By investing in debt instruments, these funds provide
low risk and stable income to investors with preservation of capital. These funds tend to be less
volatile than equity funds and produce regular income. These funds are suitable for investors
whose main objective is safety of capital with moderate growth.
Balanced Funds
Balanced funds invest in both equities and fixed income instruments in line with the pre-
determined investment objective of the scheme. These funds provide both stability of returns and
capital appreciation to investors. These funds with equal allocation to equities and fixed income
securities are ideal for investors looking for a combination of income and moderate growth. They
generally have an investment pattern of investing around 60% in Equity and 40% in Debt
instruments.
Gilt Funds
Gilt funds invest exclusively in government securities. Although these funds carry no credit risk,
they are associated with interest rate risk. These funds are safer as they invest in government
securities.
5
Some of the common types of mutual funds and what they typically invest in:
Fixed Income Fund Fixed income securities like government and corporate bonds
Money Market Fund Short-term fixed income securities like treasury bills
Index Fund Equities or Fixed income securities chosen to replicate a specific Index for example
S&P CNX Nifty
Other Schemes
Tax-saving schemes offer tax rebates to investors under specific provisions of the Income Tax
Act, 1961. These are growth-oriented schemes and invest primarily in equities. Like an equity
scheme, they largely suit investors having a higher risk appetite and aim to generate capital
appreciation over medium to long term.
Index Funds
Index schemes replicate the performance of a particular index such as the BSE Sensex or the
S&P CNX Nifty. The portfolio of these schemes consist of only those stocks that represent the
Index and the weightage assigned to each stock are aligned to the stocks weightage in the index.
Hence, the returns from these funds are more or less similar to those generated by the Index.
Sector-specific Funds
Sector-specific funds invest in the securities of only those sectors or industries as specified in the
Scheme Information Document. The returns in these funds are dependent on the performance of
the respective sector/industries for example FMCG, Pharma, IT, etc. The funds enable investors
to diversify holdings among many companies within an industry. Sector funds are riskier as their
performance is dependent on particular sectors although this also results in higher returns
generated by these funds.
Professional Management
when you invest in a mutual fund, your money is managed by finance professionals.
Investors who do not have the time or skill to manage their own portfolio can invest in
mutual funds. By investing in mutual funds, you can gain the services of professional fund
managers, which would otherwise be costly for an individual investor.
Diversification
Mutual funds provide the benefit of diversification across different sectors and companies.
Mutual funds widen investments across various industries and asset classes. Thus, by
investing in a mutual fund, you can gain from the benefits of diversification and asset
allocation, without investing a large amount of money that would be required to build an
individual portfolio.
Liquidity
Mutual funds are usually very liquid investments. Unless they have a pre-specified lock-in
period, your money is available to you anytime you want subject to exit load, if any.
Normally funds take a couple of days for returning your money to you. Since they are well
integrated with the banking system, most funds can transfer the money directly to your bank
account. 7
Flexibility
Investors can benefit from the convenience and flexibility offered by mutual funds to invest
in a wide range of schemes. The option of systematic (at regular intervals) investment and
withdrawal is also offered to investors in most open-ended schemes. Depending on ones
inclinations and convenience one can invest or withdraw funds.
Transparency
Funds provide investors with updated information pertaining to the markets and schemes
through factsheets, offer documents, annual reports etc.
Well-regulated
Mutual funds in India are regulated and monitored by the Securities and Exchange Board of
India (SEBI), which endeavors to protect the interests of investors. All funds are registered
with SEBI and complete transparency is enforced. Mutual funds are required to provide
investors with standard information about their investments, in addition to other disclosures
like specific investments made by the scheme and the quantity of investment in each asset
class.
Mutual funds invest in different securities like stocks or fixed income securities, depending upon
the funds objectives. As a result, different schemes have different risks depending on the
underlying portfolio. The value of an investment may decline over a period of time because of
economic alterations or other events that affect the overall market. Also, the government may
come up with new regulations, which may affect a particular industry or class of industries. All
these factors influence the performance of Mutual Funds.
8
Risk and Reward:
The diversification that mutual funds provide can help ease risk by offsetting losses from some
securities with gains in other securities. On the other hand, this could limit the upside potential
that is provided by holding a single security.
Lack of Control:
Investors cannot determine the exact composition of a funds portfolio at any given time, nor can
they directly influence which securities the fund manager buys.
Later in the 1970s and 80s, UTI started innovating and offering different schemes to
suit the needs of different classes of investors. Unit Linked Insurance Plan (ULIP) was
9
Launched in 1971. The first Indian offshore fund, India Fund was launched in August 1986. In
absolute terms, the investible funds corpus of UTI was about Rs 600 crores in 1984. By 1987-88,
the assets under management (AUM) of UTI had grown 10 times to Rs 6,700 crores.
The private funds have brought in with them latest product innovations, investment management
techniques and investor-servicing technologies. During the year 1993-94, five private sector fund
houses launched their schemes followed by six others in 1994-95.
Since 1996, the mutual fund industry scaled newer heights in terms of mobilization of
funds and number of players. Deregulation and liberalization of the Indian economy
had introduced competition and provided impetus to the growth of the industry. A
10
Comprehensive set of regulations for all mutual funds operating in India was
introduced with SEBI (Mutual Fund) Regulations, 1996. These regulations set
uniform standards for all funds. Erstwhile UTI voluntarily adopted SEBI guidelines
for its new schemes. Similarly, the budget of the Union government in 1999 took a big
step in exempting all mutual fund dividends from income tax in the hands of the
investors. During this phase, both SEBI and Association of Mutual Funds of India
(AMFI) launched Investor Awareness Programme aimed at educating the investors
about investing through MFs.
UTI Mutual Fund is the present name of the erstwhile Unit Trust of India (UTI).
While UTI functioned under a separate law of the Indian Parliament earlier, UTI
Mutual Fund is now under the SEBI's (Mutual Funds) Regulations, 1996 like all other
mutual funds in India. The emergence of a uniform industry with the same structure,
operations and regulations make it easier for distributors and investors to deal with
any fund house. Between 1999 and 2005 the size of the industry has doubled in terms
of AUM which has gone from above Rs 68,000 crores to over Rs 1,50,000 crores.
11
Phase VI (From 2004 Onwards): Consolidation and Growth: The industry has
lately witnessed a spate of mergers and acquisitions, most recent ones being the
acquisition of schemes of Allianz Mutual Fund by Birla Sun Life, PNB Mutual Fund
by Principal, among others. At the same time, more international players continue to
enter India including Fidelity, one of the largest funds in the world.
Alliance Buy India and Alliance Equity both have 3 stars. That does mean their NAV is identical.
In fact, the NAV of Alliance Equity is 91.66 while that of Buy India is 16.05.
However, Alliance Buy India took an average risk and delivered an average return, while
Alliance Equity took an above average risk to get the above average returns. Hence their stars are
identical, despite one having a higher NAV.
A fund with more stars does not indicate a higher return when compared with the rest. All it
means is that you will get a good return without putting your money at too much risk.
Birla Equity Plan has a 4-star rating while Alliance Tax Relief '96 has a 2-star rating. However,
the fund with the 2-star rating has a higher NAV (131.96) than the one with the 4-star rating
(39.37).
Birla Advantage has an NAV of 67.09 while Franklin India Prima has an NAV of 122.92. This
does not necessarily mean that Franklin India Prima is offering a higher risk since the return is
higher. In fact, according to our ratings, Franklin India Prima is a 5-star fund while (risk is below
average) while Birla Advantage is a 2-star fund (risk is above average).
12
CHAPTER 3
COMPANY PROFILE
Sharekhan is a leading online broker in India. Sharekhan is actually a brand name from SSKI
Securities. In India if you are planning to trade in shares, buy sell stocks, trade in stock market
derivatives like future and options, or invest in commodities like gold etc. you should know
about Sharekhan. You can also open a Sharekhan Demat Account. A demat account is an account
which you need in India to buy and sell shares.
VISION:
MANAGEMENT TEAM
The company has more than eighty years experience in brokering business it was earlier known
as SSKI Group. The owner of the company is Mr. Dinesh Murikya.
Sharekhan is one of the leading retail brokerage firms in the country. It is the retail broking arm
of the Mumbai-based SSKI Group, which has over eight decades of experience in the stock
broking business. Sharekhan offers its customers a wide range of equity related services
including trade execution on BSE, NSE, Derivatives, depository services, online trading,
13
Investment advice (Mutual Funds) etc. the firms online trading and investment site-
www.sharekhan.com-was launched on Feb 8, 2000. The site gives access to superior content and
transaction facility to retail customers across the country. Known for its jargon-free, investor
friendly language and high quality research, the site has a registered base of over 4 lakh
customers.
Currently accounts for just over 1 per cent of the daily trading in stocks in India, Sharekhan
alone accounts for 22 per cent of the volumes traded online. The content-rich and research
oriented portal has stood out among its contemporaries because of its steadfast dedication to
offering customers best-of-breed technology and superior market information.
The firms online trading and investment site-www.sharekhan.com-was launched on Feb 8, 2000.
The site gives access to superior content and transaction facility to retail customers across the
country. Known for its jargon-free, investor friendly language and high quality research, the site
has a registered base of over 4 lakh customers. The number of trading members currently stands
at over 3 Lacs. While online trading currently accounts for just over 1 per cent of the daily
trading in the stocks in India, Sharekhan alone accounts for 22 per cent of the volumes traded
online.
The content-rich and research oriented portal has stood out among its contemporaries because of
its steadfast dedication to offering customers best-of-breed technology and superior market
information. The objective has been to let customers make informed decisions and to simplify
the process of investing in stocks.
On April 17, 2002 Sharekhan launched SpeedTrade, a net-based executable application that
emulates the broker terminals along with host of other information relevant to the Day Traders.
This was for the first time that a net-based trading station of this caliber was offered to the
traders. In the last six months SpeedTrade has become over the net. Sharekhans ground network
includes over 250 centers in 123 cities in India, of which 20 are fully-owned branches.
14
Sharekhan has always believed in investing in technology to build its business. The company has
Used some of the best-known names in the IT industry, like Sun Microsystems, Oracle,
Microsoft, Cambridge Technologies, Nexgenix, Vignette, VeriSign Financial Technologies India
Ltd, Spider Software Pvt Ltd. to build its trading engine and content. The Morakhia family holds
a majority stake in the company. HSBC, Intel & Carlyle are the other investors.
With a legacy of more than 80 years in the stock markets, the SSKI group ventured into
institutional broking and corporate finance 18 years ago. Presently SSKI is one of the leading
players in institutional broking and corporate finance activities. SSKI holds a sizeable portion of
the market in each of these segments. SSKIs institutional broking arm accounts for 7% of the
market for Foreign Institutional portfolio investment and 5% of all Domestic Institutional
portfolio investment in the country. It has 60 institutional clients spread over India, Far East, UK
and US. Foreign Institutional Investors generate about 65% of the organizations revenue, with a
daily turnover of over US$ 2 million. The Corporate Finance section has a list of very prestigious
clients and has many firsts to its credit, in terms of the size of deal, sector tapped etc. The group
has placed over US$ 1 billion in private equity deals. Some of the clients include BPL Cellular
Holding, Gujarat Pipavav, Essar, Hutchison, Planetasia, and Shoppers Stop.
CHAPTER 4
LITERATURE OF REVIEW
Dr. Geeta Kesavaraj (2015), the researcher carried out the study with the aim to measure the
Customer Perception towards various types of Mutual Funds". It focuses its attention towards
the possibilities of measuring the expectations and satisfaction level of more mutual fund
products. It also aims to suggest techniques to improve the present level of perception. The study
will help the firm in understanding the expectations, future needs and requirements and
complaints of the consumers. The study had been dedicated mainly towards the promotion of
product or concept in the Chennai Market. The researcher used the Descriptive type of research
design in her study.
Prof Gauri Prabhu, Dr N.M. Vechalekar (2014), Mutual Funds provide a platform for a
common investor to participate in the Indian capital market with professional fund management
irrespective of the amount invested. The Indian mutual fund industry is growing rapidly and this
is reflected in the increase in Assets under management of various fund houses. Mutual fund
investment is less risky than directly investing in stocks and is therefore a safer option for risk
adverse investors.
Gaurav Agrawal & Dr. Mini Jain (2013), in todays competitive environment, different kinds
of investment avenues are available to the investors. All investment modes have advantages &
disadvantages. An investor tries to balance these benefits and shortcomings of different
investment modes before investing in them. Among various investment modes, Mutual Fund is
the most suitable investment mode for the common man, as it offers an opportunity to invest in a
diversified and professionally managed portfolio at a relatively low cost.
17
Dr. Ravi Vyas (2012), conducted study on mutual fund investors behavior and perception in
Indore city It was found that mutual funds were not that much known to investors, still investor
rely upon bank and post office deposits, most of the investor used to invest in mutual fund for
not more than 3 years and they used to quit from The fund which was not giving desired results.
Equity option and SIP mode of investment were on top priority in investors list. It was also
found that maximum number of investors did not analyze risk in their investment and they were
depending upon their broker and agent.
Dr. Binod Kumar (2012), Singh In this paper, structure of mutual fund, operations of mutual
fund, comparison between investment in mutual fund and bank 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, Chi-square ( ) test has
been used and for analyzing the various factors responsible for investment in mutual funds,
ranking was done on the basis of weighted scores and scoring was also done on the basis of
scale.
Dr. Shantanu Mehta, Charmi (2012), Shah The survey is undertaken of 100 educated investors
of Ahmedabad and Baroda city and the major findings reveal the major factors that influence
buying behavior mutual funds investors, sources that investor rely more while making
investment and preferable mode to invest in mutual funds market. The study will be immensely
useful to the AMC'; s, Brokers, distributors and to the other potential investors and last but not
least to academician as well.
18
CHAPTER 5
RESEARCH METHODOLOGY
For the solution of any problem a systematically established method is required. Same as in case
of solution of the research problem scientifically, a systematic method is required which is
known Research Methodology. The research methodology of the selected topic follows to these
dimensions.
TYPES OF REEARCH:
The present research is EXPLORATARY and DESCIPTIVE in nature.
The Exploratory Study is a study based on observation and experience alone, it is also known
as data based research Exploratory research design does not aim to provide the final and
conclusive answers to the research questions, but merely explore the research topic with varying
level of depths. Exploratory research tends to tackle new problem on which no previous
research has been done. Exploratory research is the initial research, which forms the basis of
more conclusion research.
The Descriptive Study is a study which describes a situation, problem, service or program. It
does not answer questions about how/when/why the characteristics occurred rather it addresses
the what question.
DATA COLLECTION:
Data were collected through both primary and secondary data sources. Primary data was
collected through questionnaires. The study was done in the form of direct personal interviews
and filling up of questionnaire through various officials.
PRIMARY DATA
A primary data is a data which is collected afresh and for the first time, and thus happen in
original in character. The primary data with the help of questionnaire is collected from various
officials.
19
SECONDARY DATA
Secondary data consist of information that already exists somewhere, have been collected.
Secondary data is collected from various websites, Annual Reports, Financial Reports.
SAMPLE SIZE:
To justify the research without any basis, the researcher has selected a sample of 100.
SAMPLING AREA:
New Delhi
SAMPLING TECHNIQUE:
The sampling technique used is NON-RANDOM SAMPLING and under this Snowball
SAMPLING is used to collect the primary data. A convenience sampling is one in which
researcher users his or her own convince regarding the selection of samples.
During the study, on many occasions the respondent groups were not willing to answer.
The respondents from whom primary data was gathered Many times displayed complete
ignorance about the complete branded range, which was being studied.
Lack of time is the basic limitation in the project.
Money played a vital factor in the whole project duration.
Lack of proper information and experience due to short period of time.
21
CHAPTER 6
DATA ANALYSIS
Table 7.1
Fig. 7.2
INTERPRETATION: This Pie chart shows that 55% of people were at 20-40 age, 40% of
people were at 40-60 age and 5% people were above 60 at the time of investment.
22
2. Occupation of Mutual Fund investors.
Fig. 7.2
INTERPRETATION: This pie chart shows that 30% of respondents are businessman,
24%are serviceman, 26% are professional and rest are others services.
23
Table 7.3
Fig. 7.3
INTERPRETATION: This pie chart shows that 5% respondents earns below 15000, 8%
earns between15000-20000, 27% earn between20000-30000, 60% earn above 30000.
24
Fig. 7.4
INTERPRETATION: The given pie chart shows 28% invest for growth in income,
18%invest for tax savings, 30% invest for earning high returns and rest for saving for future
expenses.
25
Agree 28%
Average 15%
Disagree 12%
Highly 10%
Disagree
Table 7.5
Fig. 7.5
Interpretation: -
As shown in pie chart, we found that 35% Investors Highly agree , 28% Investors only agree,
15% are Average, 12% Investors are disagree, and 10% Investors are highly disagree with mutual
fund is completely safe as an investment option.
26
6. Perception of investors towards Mutual Fund on the basis of returns:
BASIS Percentage of
investors
High 33%
Satisfactory
Satisfactory 30%
Average 15%
Dissatisfactory 12%
High 10%
Dissatisfactory
Total 100%
Table 7.6
Fig. 7.6
Interpretation:
After study , we found that 33% Investors Highly satisfactory, 30% Investors only satisfactory,
15% are Average, 12% Investors are dissatisfactory, and 10% Investors are highly dissatisfactory
towards Mutual Fund as an investment option on the basis of return.
27
7. Percentage of features of Mutual Fund allures respondent most.
Basis % of investors
Diversification 25%
Total 100
Table 7.7
Fig. 7.7
INTERPRETATION: This pie chart shows that,30% investors consider the better return &
safety feature of mutual fund ,25%consider diversification, 10% consider Regular income,20%
consider tax benefit, 15% consider reduction in risk & transaction .
28
8. Tenure of investors investment in mutual fund:
Year % of investors
Less than 1 5%
year
1-2 15%
2-3 25%
More than 55%
3 year
Table 7.8
Fig. 7.8
Interpretation:
The given pie chart shows that, 5% respondents invested for less than 1 year, 15% for 1-2year,
25% for 2-3 year, 55% more than 3 year in Mutual fund.
29
BASIS Percentage
Of investors
Open 73%
Ended
Close 12%
Ended
Interval 15%
Fund
Total 100%
Table 7.9
Fig. 7.9
Interpretation:-
As shown in the pie chart, 73% Investor invested in the Open ended scheme while 12%
Investor invested in the Close ended scheme and 15% in the Interval Fund.
30
10.Different type of funds chooses by mutual fund investors:
BASIS Percentage
Of investors
Equity 63%
Fund
Debt 15%
Fund
Hybrid 22%
Fund
Table 7.10
Fig. 7.10
Interpretation:-
As shown in the pie chart, 63% Investor invested in Equity fund, 15% investor invested in Debt
fund and 22% Investor Invested in Hybrid Fund.
31
Fig. 7.11
Interpretation:-
As shown in the pie chart, 49%investors invest in diversified equity mutual fund, 22% in Mid-
Cap Fund, 11% in Sector Specified Fund, 18% in Tax Saving fund of Equity fund.
32
12. If Debt Funds then, in which category.
Fund Type % of investors
Gilt Fund 35%
Table 7.12
Fig. 7.12
Interpretation:-
As shown in Pie chart, 35% investors invest in Gilt Fund, 28% in Income Fund, 12% in Short
Term Plans and rest is in Liquid Fund of the Debt Fund.
33
CHAPTER 7
FINDINGS
Mostly investors are 20-40 age group and mostly Businessman Participate more in
Mutual Funds than any other occupant.
Investors whose Income is Rs. 30000 or above likes to go for the Mutual Funds.
Investors invest in Mutual Fund for earning high return most.
Most of the Investor Perceive that Mutual fund is completely safe as an investment option
and highly satisfactory on the return basis.
Better Return & Safety allure the Mutual fund investors most.
Most of the investors invest in Mutual Fund for more than 5 years.
Most of Investors prefer to invest their money in Open Ended Schemes of Mutual Funds.
Equity funds are the most preferred choice amongst the investors as these are safer,
highly liquid and easier to understand compared with Equity.
Investors choose diversified Equity Fund in equity funds and Gilt fund in Debt Fund most
in Mutual Fund.
34
CONCLUSIONS
The main five reasons for investment in mutual funds are high returns, Risk, tax
exemption, Regular income and diversification.
Looking at the past developments and combining it with the current trends it can be
concluded that the future of Mutual Funds in India has lot of positive things to offer to its
investors.
The investors have shown interest towards the Mutual Funds. This fact is certainly
identified by the Mutual Fund companies as the number of schemes with various options
and benefits they are tailoring it certainly seems that the wave of Mutual Fund investment
is taking over.
Drivers of purchase of Mutual funds were found to be tax benefits, consistency in fund
performance and brand equity.
Looking at the past developments and combining it with the current trends it can be
concluded that the future of Mutual Funds in India has lot of positive things to offer to its
investors.
The investors have shown interest towards the Mutual Funds. This fact is certainly
identified by the Mutual Fund companies as the number of schemes with various options
and benefits they are tailoring it certainly seems that the wave of Mutual Fund investment
is taking over.
35
CHAPTER 8
RECOMMENDATIONS
My consumer survey in Delhi has revealed the fact that the market for mutual fund is still
in its expansion stage. Hence the companies have to do a lot of things and activities to
develop the market for mutual fund in this capital city
As the awareness of mutual funds is still improving in this market, companies should
give focus on customer education.
36
CHAPTER 9
Books:
Bogle J C (1992), Selecting Equity Mutual Fund, the Journal of Portfolio Management,
Vol. 18 No.2, PP. 94- 100.
James M. Dahle, MD, The White Coat Investor, White Coat Investor Publishers, 1 edition
(January 9, 2014)
Lu Zheng (1999), Is Money Smart? A study of mutual fund investors fund selection
ability, The Journal of Finance, Vol. LIV, No.3
1. Dr. Geeta Kesavaraja (2015), Study on Customer Perception towards Various Types of
Mutual Funds in Chennai, Asia Pacific Journal of Research, Vol. i, No. x.
2. Gauri Prabhu & Dr. N.M. Vechalekar (2014), Perception of Indian Investor towards
Investment in Mutual Funds with Special Reference to MIP Funds, IOSR Journal of
Economics and Finance (IOSR-JEF), Pp. 6674.
3. Gaurav Agrawal & Dr. Mini Jain (2013), Investors Preference towards Mutual Fund in
Comparison to other Investment Avenues, Journal of Indian Research, Vol. 1, No.4, and
Pp. 115131.
4. R. Padmja (2013), A Study of Consumer Behavior towards Mutual Funds with special
reference to ICICI Prudential Mutual Funds, Vol. 2, No. 2.
5. Dr. Ravi Vyas (2012), Mutual Fund Investors Behaviour and Perception in Indore
City, Journal of Arts, Science & Commerce, Vol. 3, No, 3(1), Pp. 6775.
6. Dr. Binod Kumar Singh (2012), A Study on Investors Attitude towards Mutual Funds
as an Investment Option, International Journal of Research in Management, Vol. 2.
7. Dr. Shantanu Mehta & Charmi Shah (2012), Preference of Investors for Indian Mutual
Funds and its Performance Evaluation, Pacific Business Review International, Vol. 5,
No. 3, Pp. 6276.
WEBSITES:
1. http://www.bseindia.com
2. http://www.nseindia.com
3. http://www.moneycontrol.com
4. http://www.sharekhan.com
5. http://www.karvy.com
6. http://www.rbi.org
CHAPTER 10
ANNEXURE
a. Equity fund
b. Debt funds
c. Hybrid Funds
b. Mid-Cap Funds
a. Gilt Funds
b .Income Funds
d .Liquid Funds
Name _______________________________________________
Contact no. _______________________________________________
E-mail ID _______________________________________________