Table of contents

Introduction

Sl Content Pages
No
I Introduction
II Statement of problem
III Research Objectives
IV Research Methodology
V Limitations of the project study
Chapter Scheme

Chapter Content Pages

Chapter I Literature review

Chapter II Industry & Company Profile

Data analysis and Interpretation
Chapter III & IV

Chapter V Summary of Findings

Chapter VI Suggestions & Conclusion

Bibliography

Appendix
Introduction
Introduction
Mutual funds are financial intermediaries, which collect the savings of investors & invest them
in a large & well diversified portfolio of securities such as money market instruments, corporate
& government bonds & equity shares of joint stock companies. A Mutual fund is a pool of
common funds invested by different investors, who have no contact with each other. Mutual
funds are conceived as institutions for providing small investors with avenues of investments in
the capital market. Since small investors generally do not have adequate time knowledge,
experience & resources for directly accessing the capital market, they have to rely on an
intermediary which undertakes informed investment decisions & provides consequential benefits
of professional expertise. The advantages for the investors are reduction in risk, expert
professional management, diversified portfolios, & liquidity of investment & tax benefits. By
pooling their assets through mutual funds, investors achieve economies of scale. The interests of
the investors are protected by the SEBI, Which acts as a watchdog. Mutual funds are governed
by the SEBI (Mutual funds) regulations, 1993.

From its inception the growth of mutual funds is very slow and it took really long years to evolve
the modern day mutual funds. Mutual Funds emerged for the first time in Netherlands in the18th
century and then got introduced to Switzerland, Scotland and then to United States in the 19th
century. The main motive behind mutual fund investments is to deliver a form of diversified
investment solution. Over the years the idea developed and people received more and more
choices of diversified investment portfolio through the mutual funds. In India, the mutual fund
concept emerged in 1960. The credit goes to UTI for introducing the first mutual fund in India.
Monetary Funds benefited a lot from the mutual funds. Earlier investors used to invest directly in
the stock market and many times suffered from loss due to wrong speculation. But with the
coming up of mutual funds, which were handled by efficient fund managers, the investment risks
were lowered by a great extent.

Statement of the problem

Mutual funds are the avenues for common investors to reap the benefits of share market
performance. Investing in equity directly by investors is fraught with highest level of risk &
uncertainty Retail investors do not actively participate in share market but inflation edged
investment return demands the exploitation of the equity market as an investment avenue
Therefore there is a necessity to create awareness of the utility of investing in mutual funds
schemes to enjoy a return which will be inflation adjusted real returns Therefore this project is
taken on to assess the investors perception of mutual fund investment. This project will evaluate
the financial performance of mutual fund schemes.

AN OVERVIEW ON MUTUALFUNDS
HISTORY OF MUTUAL FUNDS:-
In 1774, a Dutch merchant invited subscriptions from investors to set up an investment trust by
the name of Eendragt Maakt Magt (translated into English, it means, ‗Unity Creates Strength‘),
with the objective of providing diversification at low cost to small investors. Its success caught
on, and more investment trust were launched, with verbose and quirky names that when
translated read ‗profitable and prudent‘ or ‗small maters grow by consent. The foreign and
colonial Govt. trust, formed in London in 1868, promised ‗start ‗the investor of modest means
the same advantages as the large capitalist… by spreading the investment over a number of
stock.

When three Boston securities executives pooled their money together in 1924 to create the first
mutual fund, they had no idea how popular mutual funds would become. The idea of pooling
money together for investing purposes started in Europe in the mid-1800s. The first pooled fund
in the U.S. was created in 1893 for the faculty and staff of Harvard University. On March 21st,
1924 the first official mutual fund was born. It was called the Massachusetts Investors Trust.

After one year, the Massachusetts Investors Trust grew from $50,000 in assets in 1924 to
$392,000 in assets (with around 200 shareholders). In contrast, there are over 10,000 Mutual
Funds in the U.S. today totaling around $7 trillion (with approximately 83 million individual
investors) according to the Investment Company Institute.

HISTORY OF MUTUAL FUNDS IN INDIA:-

The Evolution:

The formation of Unit Trust of India marked the evolution of the Indian mutual fund industry in
the year 1963. The primary objective at that time was to attract the small investors and it was
made possible through the collective efforts of the Government of India and the Reserve Bank of
India. The history of mutual fund industry in India can be better understood divided into
following phases:

Phase 1. Establishment and Growth of Unit Trust of India - 1964-87:

Unit Trust of India enjoyed complete monopoly when it was established in the year 1963 by an
Act of Parliament. UTI was set up by the Reserve Bank of India and it continued to operate
under the regulatory control of the RBI until the two were de-linked in 1978 and the entire
control was transferred in the hands of Industrial Development Bank of India (IDBI). UTI
launched its first scheme in 1964, named as Unit Scheme 1964 (US-64), which attracted the
largest number of investors in any single investment scheme over the years. UTI launched

more innovative schemes in 1970s and 80s to suit the needs of different investors. It launched
ULIP in 1971, six more schemes between 1981-84, Children's Gift

Growth Fund and India Fund (India's first offshore fund) in 1986, Mastershare (India‘s first
equity diversified scheme) in 1987 and Monthly Income Schemes (offering assured returns)
during 1990s. By the end of 1987, UTI's assets under management grew ten times to Rs 6700
crores.

Phase II. Entry of Public Sector Funds - 1987-1993:

The Indian mutual fund industry witnessed a number of public sector players entering the market
in the year 1987. In November 1987, SBI Mutual Fund from the State Bank of India became the
first non-UTI mutual fund in India. SBI Mutual Fund was later followed by Canbank Mutual
fund, LIC Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund, GIC Mutual
Fund and PNB Mutual Fund. By 1993, the assets under management of the industry increased
seven times to Rs. 47,004 crores. However, UTI remained to be the leader with about 80%
market share.

Mobilization as % of
Amount Assets Under
1992-93 gross Domestic
Mobilized Management
Savings

UTI 11,057 38,247 5.2%

Public
1,964 8,757 0.9%
Sector

Total 13,021 47,004 6.1%

Phase III. Emergence of Private Sector Funds - 1993-96:

The permission given to private sector funds including foreign fund management companies
(most of them entering through joint ventures with Indian promoters) to enter the mutual fund
industry in 1993, provided a wide range of choice to investors and more competition in the
industry. Private funds introduced innovative products, investment techniques and investor-
servicing technology. By 1994-95, about 11 private sector funds had launched their schemes.

Phase IV. Growth and SEBI Regulation - 1996-2004:

The mutual fund industry witnessed robust growth and stricter regulation from the SEBI after the
year 1996. The mobilization of funds and the number of players operating in the industry reached
new heights as investors started showing more interest in mutual funds.

Investor‘s' interests were safeguarded by SEBI and the Government offered tax benefits to the
investors in order to encourage them. SEBI (Mutual Funds) Regulations, 1996 was introduced by
SEBI that set uniform standards for all mutual funds in India. The Union Budget in 1999
exempted all dividend incomes in the hands of investors from income tax. Various Investor
Awareness Programs were launched during this phase, both by SEBI and AMFI, with an
objective to educate investors and make them informed about the mutual fund industry.

In February 2003, the UTI Act was repealed and UTI was stripped of its Special legal status as a
trust formed by an Act of Parliament. The primary objective behind this was to bring all mutual
fund players on the same level.

UTI was re-organized into two parts:

1. The Specified Undertaking,

2. The UTI Mutual Fund

Presently Unit Trust of India operates under the name of UTI Mutual Fund and its past schemes
(like US-64, Assured Return Schemes) are being gradually wound up. However, UTI Mutual
Fund is still the largest player in the industry. In 1999, there was a significant

Growth in mobilization of funds from investors and assets under management which is supported
by the following data:
GROSS FUND MOBILISATION (RS. CRORES)

PUBLIC PRIVATE
FROM TO UTI TOTAL
SECTOR SECTOR

01-April-98 31-March-99 11,679 1,732 7,966 21,377

01-April-99 31-March-00 13,536 4,039 42,173 59,748

01-April-00 31-March-01 12,413 6,192 74,352 92,957

01-April-01 31-March-02 4,643 13,613 1,46,267 1,64,523

01-April-02 31-Jan-03 5,505 22,923 2,20,551 2,48,979

01-Feb.-03 31-March-03 * 7,259* 58,435 65,694

01-April-03 31-March-04 - 68,558 5,21,632 5,90,190

01-April-04 31-March-05 - 1,03,246 7,36,416 8,39,662

01-April-05 31-March-06 - 1,83,446 9,14,712 10,98,158

ASSETS UNDER MANAGEMENT (RS. CRORES)

PUBLIC PRIVATE
AS ON UTI TOTAL
SECTOR SECTOR

31-03March-
53,320 8,292 6,860 68,472
99
Phase V. Growth and Consolidation - 2004 Onwards:

The industry has also witnessed several mergers and acquisitions recently, examples of which are
acquisition of schemes of Alliance Mutual Fund by Birla Sun Life, Sun F&C Mutual Fund and
PNB Mutual Fund by Principal Mutual Fund. Simultaneously, more international mutual fund
players have entered India like Fidelity, Franklin Templeton Mutual Fund etc. There were 29
funds as at the end of March 2006. This is a continuing phase of growth of the industry through
consolidation and entry of new international and private sector players.

Emerging Issues of the Mutual Fund Industry in India:

• By end of JUNE 2010, Indian mutual fund industry reached more than Rs. 640000 crore.

• 100% growth in the last 6 years.

• Numbers of foreign AMC‘s are in the queue to enter the Indian markets.

• Our saving rate is over 23%, highest in the world. Only channelizing these savings in
mutual funds sector is required.

• We have approximately 39 mutual funds which is much less than US having more than
800. There is a big scope for expansion.

• 'B' and 'C' class cities are growing rapidly. Today most of the mutual funds are
concentrating on the 'A' class cities. Soon they will find scope in the growing cities.

• Mutual fund can penetrate rural like the Indian insurance industry with simple and
limited products.

• SEBI allowing the MF's to launch commodity mutual funds.

• Emphasis on better corporate governance.

• Trying to curb the late trading practices.

MUTUAL FUND OPERATION FLOW CHART:-

WORKING OF MUTUAL FUND:-

A Mutual Fund is a collection of stocks, bonds, or other securities owned by a group of investors
and managed by a professional investment company. For an individual investor to have a
diversified portfolio is difficult. But he can approach to such company and can invest into shares.
Mutual funds have become very popular since they make individual investors to invest in equity
and debt securities easy. When investors invest a particular amount in mutual funds, he becomes
the unit holder of corresponding units. In turn, mutual funds invest unit holder‘s money in stocks,
bonds or other securities that earn interest or dividend. This money is distributed to unit holders.
If the fund gets money by selling some stocks at higher price the unit holders also are liable to
get capital gains.
Advantages of investing in mutual funds
 Increased diversification: A fund diversifies holding many securities; this diversification decreases
risk.
 Daily liquidity: Shareholders of open-end funds and unit investment trusts may sell their holdings
back to the fund at regular intervals at a price equal to the net asset value of the fund's holdings.
Most funds allow investors to redeem in this way at the close of every trading day.
 Professional investment management: Open-and closed-end funds hire portfolio managers to
supervise the fund's investments.
 Ability to participate in investments that may be available only to larger investors. For example,
individual investors often find it difficult to invest directly in foreign markets.
 Service and convenience: Funds often provide services such as check writing.
 Government oversight: Mutual funds are regulated by a governmental body
 Transparency and ease of comparison: All mutual funds are required to report the same information
to investors, which makes them easier to compare
Disadvantages of investing in mutual funds
 No Control over cost: An investor in a mutual fund has no control over the overall cost of investing.
He pays various fees and expenses as long as he remains with the fund.
 No Tailor-made Portfolios: Investors who invest on their own can build their own portfolios of shares,
bonds and other securities. Investing through funds means he delegates this decision to the fund
managers.
 Managing a Portfolio of Funds: Availability of a large number of funds can actually mean too much
choice fo the investor. He may again need advice on how to select a fund to achieve his objectives,
quite similar to the situation when he has to select individual shares or bonds to invest in.
 Scope of research
The main purpose of doing this project was to know about mutual fund and its functioning. This
helps to know in details about mutual fund industry right from its inception stage, growth and
futureprospects.
It also helps in understanding different schemes of mutual funds. Because my study depends
upon prominent funds in India and their schemes like equity, income, balance as well as the
returns associated with those schemes.

The research is based on different investment & saving schemes so there is lots of opportunities
to choose an investment schemes which is beneficial to investor as well as the companies in the
market. Choosing a right research technique lead to better profits & investment decisions.

Research objectives
a) To examine the penetration of mutual funds among Indian investors.
b) To examine the various mutual fund investments available to investors in India.
c) Finally to assess the perception of investors towards mutual funds schemes.

Research methodology
Sources of data

Introduction:

This report is based on secondary data. All the data required for this analytical study has been
obtained mainly from secondary sources. The secondary data has been collected through various
journals & websites. Secondary data is based on information gleaned from studies previously
performed by various journals.

The objectives of the study are as following:

 
 Awareness of mutual funds in Indian market.
 
 To identify the investor behavior while selecting a fund.
 
To identify the investor‘s perception about mutual funds.
 Research is divided parts:
 
Research methods

Sample Design

Type of Research:

The survey followed descriptive research design based on study. The survey attempts to find out
the perception of investors while investing in mutual funds.

Descriptive research design because time & cost constraints permitted the drawing of only one
sample from the population & information could be obtained from the sample only once.

Collection of data:

Primary data:
The data, which has being collected for the first time and it is the original data.
In this project the primary data has been taken from guide of the project.

Secondary data:

The secondary information is mostly taken from websites, books, journals

Here in this research project the secondary data is used data which are taken from published
sources of Bombay stock exchange, Money control, value research online, National stock
exchange & Mutual fund India.

Sampling design:
Population definition: the population consists of total customer based at Mumbai.Extent
customer in Mumbai,Thane
 Limitation of the study

Limitations of the study can be pointed out as follows


 Time constraints: - Due to shortage or less availability of time itmay be possible that all the
related

& concerned aspects may not be covered in the project.

 Analysis done is limited to the availability of data.

 It is very difficult to evaluate the accuracy of secondary data. Before using secondary
data.
 The study is limited to the different schemes available under the mutual funds selected.
The study is limited to selected mutual fund schemes.
The lack of information sources for the analysis part.
Literature review
MUTUAL FUND CONCEPT:-

A Mutual Fund is a trust that pools the savings of a number of investors who share a common
financial goal. The money thus collected is then invested in capital market instruments such as
equities, debentures and other securities. The income earned through these investments and the
capital appreciation realized (after deducting the expenses and profits of mutual fund managers)
is shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual
Fund strives to meet the investment needs of the common man by offering him or her
opportunity to invest in a diversified, professionally managed basket of securities at a relatively
low cost. The small savings of all the investors are put together to increase the buying power and
hire a professional manager to invest and monitor the money. Anybody with a surplus of as little
as a few thousand rupees can invest in Mutual Funds.
CATEGORIES / Models OF MUTUAL FUND:
Penetration of mutual funds in India

Abstract:

Market penetration is a term that indicates how deeply a product or service has become
entrenched with a given consumer market. The degree of penetration is often measured by the
amount of sales that are generated within the market itself. A product that generates twenty
percent of the sales made within a given market would be said to have a higher rate of market
penetration that a similar product that realizes ten percent of the total sales within that same
market. Determining what constitutes the consumer market is key to the process of properly
calculating market penetration.

Market penetration can be considered in broader terms, and be used as a way of identifying a
wider consumer base. In

Mutual Funds industry

We know that it is basically an Urban Phenomenon. Still there is a lack of awareness in rural
India about this investment option. Out of the total net assets under management by all Mutual
funds the percentage of Corporate/institutions is as big as 54.75%, whereas its percentage to total
investor's accounts is just 0.95%.

It clearly shows that the corporate sector which has a strong urban base is the real player in
Mutual Funds industry. Whereas, Out of the total net assets under management by all Mutual
funds the percentage of individuals is only 39.77%, where as its percentage to total investor's
accounts is 97.07%.

Introduction

Though India‘s savings rate has been between 30-35 % percent since last few years, investment
in mutual funds have been minimal as compared to other avenues for investment emphatically
speaking, mutual fund business follows a business to business model rather than a business to
consumer model & hence distribution is a critical success factor for any mutual fund. Despite the
effort, the mutual fund product continues to remain a ―push‖ product rather than a ―pull‖
product.
Risk Return Matrix in different sources of investments:
Comparison between various ways of investment
Mutual funds vs. other investments

From investor‘s viewpoint mutual funds have several advantages such as

Professional management & research to select quality securities.

Spreading risk over a larger quantity of stock whereas the investor has limited to but only a
hand full of stocks. The investor is not putting all his legs in one basket.

Ability to add funds at set amounts & smaller quantities such as Dollar 100 per month.

Ability to take advantage of the stock market which has generally outperformed other investment
in the long run.

Fund manager are able to but securities in large quantities thus reducing brokerage fees.

However there are some disadvantages with mutual funds such as

The investor must rely on the integrity of the professional fund manager. Fund management fees
may be unreasonable for the services rendered. The fund manager may not pass transaction
saving to the investor. The fund manager is not liable for poor judgment when the investor‘s
fund loses value. There may be too many transactions in the fund resulting in higher fee/cost to
the investor. Prospectus & annual report are hard to understand. Investor may feel a loss of
control of his investment dollars.

Company fixed deposits versus Mutual funds

Fixed deposits are unsecured borrowings by the company accepting the deposit. Credit rating
of the fixed deposit program is an indication of the inherent default risk in the investment.

The moneys of the investors in a mutual fund scheme are invested by the amc in specific
investments under that scheme. These investments are held & management in trust for the
benefit of scheme‘s investors. On the other hand, there is no such direct correlation between
a company‘s deposit mobilization, and the avenues where these sources are deployed.

A corollary of such linkage between mobilization & investment is that the gains & losses
from the mutual fund scheme entirely flow through to the investors. Therefore, there can be
no certainty of yield, Unless a named guarantor assures a return or, to a lesser extent, If the
investment is in a serial gilt scheme. On the other hand, The return under a fixed deposit is
certain only to the default risk of the borrower.

Both fixed deposits & mutual funds offer liquidity, but subject to some differences.
Bank fixed deposits Vs. Mutual fund

Bank fixed deposits are similar to company fixed deposits. The major difference is that banks
are generally more stringently regulated than companies. They even operate under stricter
requirements regarding statutory liquidity ratio (SLR) & cash reserve ratio(CRR).

While the above are causes for comfort, bank deposits too are subject to default risk .

However, Given the political & economic impact of the bank defaults , The government as
well as reserve bank of India (RBI) tries to ensure that banks do not fail.

Further, Bank deposits up to Rs 100000 are protected by the deposit insurance & credit guarantee
corporation (DICGC),So long as the bank has paid the required insurance premium of 5 paisa per
annum for every Rs 100 of deposits. The monetary ceiling of 100000 is for all the deposits in all
the branches of a bank, held by the depositor in the same capacity & right.

Banks Mutual funds

Returns Low Better

Administrative exp. High Low
Risk Low Moderate
Investment options Less More
Network High penetration Low but improving
Liquidity At a cost Better
Quality of assets Not transparent Transparent
Interest calculation Quarterly Every month
Guarantor Guarantor is needed. Guarantor is not needed
Account Needed Not needed.

Bonds & debentures Vs. Mutual funds

As in the case of fixed deposits, credit rating of the bond/ Debenture is an indication of the
inherent default risk in the investment. However unlike FD, Bonds & debentures are transferable
securities.

While an investor may have an early encashment option from the issuer (for an instance
through a ―put‖ option) Generally liquidity is through a listing in the market.

Equity vs. Mutual funds

Investment in both equity & mutual funds are subject to market risk

An investor holding equity an equity security that is not traded in the market place has a
problem in realizing value from it. But investment in an open end mutual fund .
Eliminates this direct risk of not being able to sell the investments to pay investors. The
AMC is however in a better position to handle the situation. Another benefit of equity mutual
fund schemes is that they give investors the benefit of portfolio diversification through a
small investment, For instance, an investor can take an exposure to the index by investing a
mere Rs 5000 in an index fund.

Life insurance vs. Mutual fund

Life insurance is a hedge against risk- And not really an investment option.

So, it would be wrong to compare life insurance against product.

Occasionally on account of market inefficiencies or mis-pricing of products in India, Life

insurance products have offered a return that is higher than a comparable ―safe‖ fixed
return security – thus, you are effectively paid for getting insured! Such opportunities are
not sustainable in the long run.

Relative to other comparable financial products

Schemes Return Safety Volatility Liquidity

convenience
Equity High moderate Low High High
Fi bonds Moderate high High Moderate Moderate
Corporate Moderate low Moderate Moderate Low
debentures
Company deposits Moderate low Low low
Moderate
Bank deposits Low High Low Low
High
PPF Moderate high High Low Moderate
Life insurance Low Moderate High Low Low
Gold Moderate low High Moderate Moderate
Real estate High Moderate High Low
Mutual funds High High Moderate High
High

Schemes Investment objective Risk tolerance Investment horizon

Equity term Capital association High Long
Fi bonds Income Low Medium to long term
Corporate debenture Outcome High moderate Medium to long term
Company deposits Income Moderate low Medium
Bank deposits Income Generally Flexible all terms
PPF Income Low Long
Life insurance Risk cover Low Long
Gold Inflation hedge Low Long
Real estate Inflation hedge Low Long
Industry Profile
RELIANCE MUTUAL FUND

Reliance Mutual Fund (RMF) is one of India's leading mutual funds,

with Average Assets Under Management (AAUM) of Rs 2,40,445.37 Crores
(April 2018 - June 2018 Quarter Q1) and 83.99 lakhs folios (as on June 30, 2018).
To know more details about the AUM,

Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani

(ADA) Group, is one of the fastest growing mutual funds in India. RMF offers
investors a well-rounded portfolio of products to meet varying investor
requirements and has presence in 160 cities across the country. RMF constantly
endeavours to launch innovative products and customer service initiatives to
increase value to investors.

ABOUT RELIANCE MUTUAL FUND

Reliance Mutual Fund (RMF) has been established as a trust
under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the
Settler/Sponsor and Reliance Capital Trustee Co. Limited (RCTC), as the Trustee.
Reliance Mutual Fund has been registered with the Securities & Exchange Board
of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The
name of Reliance Capital Mutual Fund was changed to Reliance Mutual Fund
effective March 11,2004 vide SEBI's letter no. IMD/PSP/4958/2004 dated March
11,2004. RMF was formed to launch various schemes under which units are issued
to the public with a view to contribute to the capital market and to provide
investors the opportunities to make investments in diversified securities.

THE MAIN OBJECTIVES OF RMF ARE

To carry on the activity of a mutual fund as may be permitted at law, and formulate and
devise various collective schemes of savings and investments for people in India and abroad,
and also ensure liquidity of investments for the unit holders;
To carry on the activity of a mutual fund as may be permitted at law, and formulate and
devise various
To deploy funds thus raised so as to help the unit holders earn reasonable returns on their
savings; and

To take such steps as may be necessary from time to time to realise the effects without any
limitation.
Achievements of Reliance Mutual Fund:

Achievements In two successive joint surveys by The Economic Times’

Brand Equity and ACNielsen, Reliance was recognised as India’s Most Trusted
Mutual Fund. The company also walked away with seven other scheme prizes –
five of them being outright winners – in the Gulf 2007 Lipper Awards. These
included the Fund House of the Year by Lipper GCC as well as ICRA Online and the
Most Improved Fund House by Asia Asset Management. It also received the NDTV
Business Leadership Award 2007 in the mutual fund category and runners’ up
recognition as the Best Fund House in the Outlook Money-NDTV Profit Awards.

In addition, the company received the sixteen schemes with Reliance Growth
Fund and Reliance Vision Fund as its flagship schemes. Reliance Equity
Opportunities Fund is a scheme which operates in the multi-cap/multi-sector
segment; Reliance Equity Fund is a long-short fund, Reliance Quant plus Fund is a
quant fund.

Reliance offers investments in banking, power, media, entertainment and

pharmaceuticals; Reliance Tax Saver Fund and Reliance Equity Linked Savings
Fund – Series 1 are tax saving schemes; an NRI-dedicated equity scheme is
tailored for non-resident Indians. Reliance Regular Savings Fund is an asset-
allocation fund with three options. Under the debt and liquid categories, Reliance
has liquid funds, liquid plus funds, income funds, an NRI-dedicated debt fund, gilt
funds, fixed maturity plans and an interval fund. In the hybrid category, Reliance
Monthly Income Plan is a popular option.

Product & Services Offered by Sharekhan:

EQUITY FUNDS EQUITY FUNDS

DEBT & GOLD FUNDS

EXCHANGE TRADED FUNDS

  EQUITY FUNDS

Reliance Balanced Advantage Fund

(Formerly Reliance NRI Equity Fund)

(An Open Ended Dynamic Asset Allocation Fund)

This product is suitable for investors who are seeking*:

• Long term capital growth

• Investment in equity & equity related instruments, debt, money market
instruments and derivatives
*Investors should consult their financial advisers if in doubt about whether
the product is suitable for them.

Reliance Equity Hybrid Fund

(Formerly Reliance Regular Savings Fund - Balanced Option)

(An open ended hybrid scheme investing predominantly in equity
and equity related instruments)
EQUITY FUNDS
This product is suitable for investors who are seeking*:

• Long term capital growth

• Investment in equity and equity related instruments and fixed income
instruments
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.
 Reliance Quant Fund

(Formerly Reliance Quant plus Fund)

(An open ended equity scheme investing in quant model theme)

This product is suitable for investors who are seeking*:

• long term capital growth

• Investment in active portfolio of stocks selected on the basis of a
mathematical model.
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.

Reliance Small Cap Fund

(An open-ended equity scheme predominantly

Investing in small cap stocks)

This product is suitable for investors who are seeking*:

• Long term capital growth

• Investment in equity and equity related securities of small cap
companies
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.

Reliance Vision Fund

(An open ended equity scheme

Investing in both large cap and mid cap stocks)

This product is suitable for investors who are seeking*:

• Long term capital growth

 • Investment in equity and equity related instruments of
large cap & mid cap companies through a research based approach.
*Investors should consult their financial advisers if in doubt
about whether the product is suitable for them.

Reliance Multi Cap Fund

(Formerly Reliance Equity Opportunities Fund)

(Multi Cap Fund - An open ended equity scheme investing across
large cap, mid cap, small cap stocks)

This product is suitable for investors who are seeking*:

• Long term capital growth

• Investment in equity and equity related securities
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.

R
Reliance Large cap Fund