Beruflich Dokumente
Kultur Dokumente
SUBMITTED IN PARTIAL FULFILLMENT FOR THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION BBA (B&I) SESSION 2007-2010
DECLARATION
I hereby declare that the project work entitled Standard Chartered is an authentic work carried out by me and under the guidance of Dr. Usha Naier for the partial fulfillment of the degree of bachelor of business administration and it has not been submitted anywhere else for the award of any degree of diploma.
NEHA GARG
ACKNOWLEDGEMENT
The present work is an effort to throw some light on Standard Chartered Mutual Fund. The work would not have been possible to come to the present shape without the able guidance, supervision and help to me by number of people.
With deep sense of gratitude I acknowledged the encouragement and guidance received by my organizational guide Mr. P.K KAPOOR (BRANCH MANAGER STANDARD CHARTERED BANK).
I convey my heartful affection to all those people who helped and supported me during the course, for completion of my Project Report.
NEHA GARG
EXECUTIVE SUMMARY
Liberalization and globalization, along with the expanded distribution of the wealth among the middle class has evoked an interest of the common man into the intricacies of capital market. Capital Market, once perceived to be a market of only for the elite and speculators, but now also attracted the attention of the common man. The stockbrokers were always influential and affluent, but a lot of transformation has taken place in his image from pawnbrokers to a man of financial acumen. The common man has now started learning the vocabulary of the capital market with terms like bull and bear explored upon in newest dimensions. But the turbulence of the stock market has made the common investor apprehensive that is why the common investor has remained away from the industrial securities markets. s 4
Mutual funds, Act as a financial intermediary between the common investors and the capital market. While on one hand they ensures a smooth returns on the investment of the investor and on the other hand they give them a much-desired security. Standard Chartered AMC Ltd. is one of the most reputed mutual funds in INDIA in private sector. It was my privilege to have my research project at Standard Chartered (Mutual Fund) AMC Ltd. and have got the opportunity to work on Concept of mutual fund with special reference to Standard Chartered Mutual Fund. This project made me aware about the no. of interesting facts such as a very low awareness level regarding Mutual fund amongst the people and so on.
TABLE OF CONTENTS
1. INTRODUCTION Industry overview Mutual fund: relationship amongst the entities involved Asset management in standard chartered mutual fund Types of bonds in standard chartered investment services Organisation of a mutual fund Grind lays super saver income fund - investment plan Concept of mutual fund Advantages of mutual funds Investment products available to Indian investors Comparison of investment products The investor perspective Fund vs others Current outlook Swot analysis
2. COMPANY PROFILE OF STANDARD CHARTERED Profile of Standard Chartered Mutual Funds 3. OBJECTIVES AND METHODOLOGY a. b. c. d. e. Research methodology and Limitations Significance Managerial usefulness of the study Objectives Scope of the study 4. DATA ANALYSIS a. Analysis And Interpretation Of Data
5. CONCLUSION
7. ANNEXURE
a.
QUESTIONNAIRE
8. BIBLIOGRAPHY
INTRODUCTION
INDUSTRY OVERVIEW
Investment management, also known as asset management, is pretty much what it sounds like: a client gives money to an asset manager, who then invests it to meet the client's objectives. The potential clients of an asset manager can vary widely. Asset managers who work for mutual funds, for example, manage money for retail clients, while asset managers at investment banks often invest money for institutional investors like companies or municipalities (often for pools of money like pension funds.) Asset managers can also work for hedge funds, which combine outside capital with capital contributed by the partners of the fund, and invest the money using complex and sometimes risky techniques, with the goal of receiving extraordinary gains.
Today's asset management industry is bigger, more dynamic and more competitive than ever. Market leaders: Achieve superior fund performance Control over the operating cost Manage the risk of new market, product and services Leverage the benefits of new technology Build and extend profitable customer relationships
MUTUALFUND:
ENTITIES INVOLVED
SPONSOR REGISTRAR
TRUSTEE COMPANY
SETS UP
APPOINTS
INVESTOR S
CUSTODIAN
Standard Chartered Mutual Fund today has offices in 19 cities and currently manages assets in excess of Rs 8000 crores. Presenting Standard Chartered Classic Equity Fund - a Fund that seeks to stand by you through the test of time. Standard Chartered Classic Equity Fund is a truly diversified fund that would not be limited by diktats of investing in either a particular section of the market or a particular style of investing. It would attempt to retain its freshness and stay contemporary with an unrestricted investment style (within predefined and controlled boundaries) and thus deliver returns that are truly consistent and relevant. With its broad idea generation theme, it is ideal for investors with a 1 to 10 year time frame.
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Types of Bonds Money Market Bonds The bonds of which 100% funds are placed in money market instruments like deposits, SBI (Bank Indonesia Certificates), and obligation with maturity date less than 1 year. Fixed Gain Bonds The bonds of which 80% funds are placed in the obligation, normally with maturity date of 3 years and over. Mixed Bonds The bonds being money market instruments, obligations and shares with flexible composition according to your financial requirements. Share Bonds Bonds of which minimum 80% of funds are placed in shares
Aims of Investments
Gain higher interests from the saved deposits Suitable for mid-term investment, minimum 3 years
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Entities involved under the organizational set up of a mutual fund are as follows:
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The Second Phase Entity of Public Sector Funds (2006-2007) 1987 marked the entry of non-UTI, Public Sector mutual funds. Many public sector banks and financial institutions were allowed to establish mutual funds. The State Bank of India established the first non-UTI mutual fund SBI Mutual Fund in November 1987. This was followed by Canbank Mutual Fund (launched in December, 1987), LIC Mutual Fund (1989), and Indian Bank Mutual Fund (1990) and later followed by Bank of India Mutual Fund, GIC Mutual Fund and PNB Mutual Fund. During the second phase, investors started shifting away from bank deposits to mutual funds, as they started allocating larger part of their financial assets and savings (5.2% in 1992, 3.1% in 1988) to fund investments.
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THE FOURTH PHASE SEBI REGULATIONS FOR MUTUAL FUNDS (1996 ONWARDS)
Finally, most investors small or large have started shifting towards mutual funds as opposed to banks or direct market investments. More investor friendly regulatory measures have been taken both by SEBI to protect the investor and by the Government to enhance investors returns through tax benefits, with SEBI (Mutual Fund) Regulations, 1996 and in 1999 Union Government Budget took a big step in exempting all mutual fund dividends from income tax in the hands of investors.
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INVESTMENT OBJECTIVE
The primary investment objective of the scheme is to seek to generate stable returns by investing in good quality fixed income and money market securities. Ideal investment horizon The scheme is designed for investors seeking a balance of stable returns and risk over a tenor of 4-12 months.
PERFORMANCE
NAV values as at October 20, 2006 NAV Rs. / Unit* Rs. / Unit* Rs. / Unit* Growth Dividend Investment objective 10.9051 10.2275 0 0 0 0 Plan B Plan C Periodicity Plan A
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DIVERSIFICATION
Diversification is the idea of spreading out your money across many different types of investments. When one investment is down another might be up. Choosing to diversify your investment holdings reduces your risk tremendously. The most basic level of diversification is to buy multiple stocks rather than just one stock. Mutual funds are set up to buy many stocks (even hundreds or thousands). Beyond that, you can diversify even more by purchasing different kinds of stocks, then adding bonds, then international, and so on. It could take you weeks to buy all these investments, but if you purchased a few mutual funds you could be done in a few hours because mutual funds automatically diversify in a predetermined category of investments (i.e. - growth companies, low-grade corporate bonds, international small companies). On the next page, I clearly explain how diversification works using a "Wheel of Fortune" concept.
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FEATURES :1. Pooled Vehicle 2. Professional Management 3. Schemes, Options/ Plans 4. Units 5. Money in trust 6. SEBI Mutual Fund Regulations, 1996
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companies. Mutual Funds save your time. 3. RETURN POTENTIAL Over a medium to long-term, mutual funds have the potential to provide a higher return as they invest in a diversified basket of selected securities. 4. LIQUIDITY In open-ended schemes, you can get your money back promptly at net asset value related prices from the Mutual Fund itself. With close-ended schemes, you can sell your units on a stock exchange at the prevailing market price or avail of the facility of direct repurchase at NAV related prices which some close-ended and interval schemes offer you periodically. 5. TRANSPARENCY You get regular information on the value of your investment in addition to disclosure on the specific investments made by your scheme, the proportion invested in each class of assets and the fund manager's investment strategy and outlook. 6. FLEXIBILITY Through features such as regular investment plants, regular withdrawal plans and dividend reinvestment plans, you can systematically invest or withdraw funds according to your needs and convenience. 7. CHOICE OF SCHEMES Mutual Funds offers a family of schemes to suit your varying needs over a lifetime. You can choose from a variety of schemes: Open - Ended Schemes Close Ended Schemes Growth Schemes Income Schemes
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VOLATILITY LIQUIDITY CONVENIENCE High Moderate High/ Low Moderate Low Low High Moderate Low Moderate Low High Moderate High Low Moderate High High Moderate Low Low High
Moderate Moderate Low High High High High High Low Low Low Low Moderate Moderate
Debentures Company Moderate FDs Bank Deposits PPF Life Insurance Gold Mutual Fund Low Moderate Low Moderate High
Moderate High
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SCHEMES ACCORDING TO INVESTMENT OBJECTIVES:A scheme can also be classified as growth scheme, income scheme, or balanced scheme considering its investment objective. Such schemes may be open-ended or close-ended schemes as described earlier. Such schemes may be classified mainly as follows:
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the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time.
BALANCED FUND:
The aim of balanced funds is to provide both growth and regular income as such schemes invest both in equities and fixed income securities in the proportion indicated in their offer documents. These are appropriate for investors looking for moderate growth. They generally invest 40-60% in equity and debt instruments. These funds are also affected because of fluctuations in share prices in the stock markets. However, NAVs of such funds are likely to be less volatile compared to pure equity funds.
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GILT FUND:
These funds invest exclusively in government securities. Government securities have no default risk. NAVs of these schemes also fluctuate due to change in interest rates and other economic factors as is the case with income or debt oriented schemes.
INDEX FUNDS:
Index Funds replicate the portfolio of a particular index such as the BSE Sensitive index, S&P NSE 50 index (Nifty), etc These schemes invest in the securities in the same weightage comprising of an index. NAVs of such schemes would rise or fall in accordance with the rise or fall in the index, though not exactly by the same percentage due to some factors known as "tracking error" in technical terms. Necessary disclosures in this regard are made in the offer document of the mutual fund scheme. There are also exchange traded index funds launched by the mutual funds which are traded on the stock exchanges.
SPECIFIED SCHEMES :These are the funds/schemes which invest in the securities of only those sectors or industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds are dependent on the performance of the respective sectors/industries.
TAX SAVING SCHEMES:These schemes offer tax rebates to the investors under specific provisions of the Income Tax Act, 1961 as the Government offers tax incentives for investment in specified avenues. e.g. Equity Linked Savings Schemes (ELSS). Pension schemes launched by the mutual funds also offer tax benefits. These schemes are growth oriented and invest pre-dominantly in equities. Their growth opportunities and risks associated are like any equity-oriented scheme.
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SPONSOR
Sponsor is defined under SEBI regulations as any person who, acting alone or in combination with another body corporate, establishes a mutual fund. The sponsor of a fund is akin to the promoter of a company as he gets the fund registered with SEBI. The sponsor forms a Trust and appoints a Board of Trustees. The sponsor also generally appoints an Asset Management Company as fund managers. The sponsor, either directly or acting through the Trustees, also appoints a Custodian to hold the fund assets. All these appointments are made in accordance with SEBI Regulations. As per the existing SEBI regulations, for a person to qualify as a sponsor, he must contribute at least 4004 of the net worth of the AMC and possess a sound financial track record over five years prior to registration.
TRUST
A mutual fund in India is constituted in the form of a Public Trust created under the Indian Trusts Act, 1882. The Fund Sponsor acts as the settler of the Trust, contributing to its initial capital and appoints a Trustee to hold the assets of the Trust for the benefit of the unit-holders, who are the beneficiaries of the Trust.
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CURRENT OUTLOOK
Indian households started allocating more of their savings to the capital markets in I 980s, with investments flowing into equity and debt instruments, besides the conventional mode of bank deposits. Until 1992, primary market investors were effectively assured of good returns as the issue price of the new equity shares was controlled and low. After introduction of free pricing of shares many investors who bought highly priced shares lost money and withdrew from the market altogether. Even those who continued as investors realized that the key to successful investing in the capital markets lay in building a diversified portfolio, which in turn required substantial capital. Besides, selecting securities with growth and income potential from the capital market involved careful research and monitoring of the market, which was not possible for all investors. While providing expertise in stock market investing, mutual funds allow investing in small amounts and yet holding a diversified portfolio to limit risk, thus providing the potential for income and growth that is associated with the debt and equity instruments. Mutual Funds serve as a link between the saving public and the capital markets as they mobilize savings from investors and bring them to bon~owers in the capital markets. Mutual funds have imparted much needed liquidity into the financial system and challenged the dominant role of banking and financial institutions in the capital markets. As has been discussed, mutual funds offer several benefits that are unmatched by other investment options. Owing to this, post liberalization, the industry has been growing at a rapid pace and has crossed Rs. 1,00,000 crore size in terms of its assets under management. However, due to the low key investor awareness, the inflow under the industry is yet to overtake the inflows in banks. Currently there are 34 Mutual Fund organizations in India managing over Rs. 1.17.000 crores.
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SWOT ANALYSIS
STRENGTHS
Standard Chartered MFs biggest strength is its pedigree. Standard Chartered Bank Ltd, which gives it a head start over other fund houses in terms of brand recognition and investor confidence
It has the privilege of being one of the most successful mutual funds operating in India .
It has one of the largest number of investors services centers and district Organizers which is in tune with its corporate philosophy of catering to rural as well as urban areas. Also such a good no of service centers helps to establish a wide distribution network. Standard Chartered MF boasts of a huge corpus under its management, the major reason for which is its link with Standard Chartered which is a main financial institution in India, a symbol for trust for Indians. Standard Chartered MF has been successful in creating a unique brand image and an identity for itself, which has lots to say .it has worked towards fulfilling its motto Think Investment Think Standard Chartered. Standard Chartered MF is today considered as one of the strongest brands synonyms with performance and reliability. .
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WEAKNESSES:
It has not been very aggressive in launching new, innovative and specialized to serve the different need despite its stature. Also it has historically lacked the marketing derive and acumen demonstrated by private sector mutual fund in garmenting sizeable in market shares in vary little time. Being a 100% subsidiary of one of the largest financial institution in India, Standard Chartered mf has been under constant pressure from different quarters, which at times has taken a tool on its smooth operation. Standard Chartered mf has been sluggish in aligning itself with the latest trends and practices in swiftly changing and involving industry. This has resulted in its loosing out many strategic advantages to the competition. Another major weakness of Standard Chartered MF has been lack of regular interaction with various intermediaries such as distribution houses and investment bankers. They play a major role in mobilization of funds from investors and as such, Standard Chartered MF needs to seriously take note of this weakness. Due to its lost focus in the past distributor had stopped taking interest in marketing Standard Chartered MF.
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OPPORTUNITIES:
The Indian mutual funds industry is still in a nascent stage and offers a wealth of opportunities for fund houses to capitalize upon. There is a huge market to be tapped and steps should be taken to inverse the proportion of people investing in Banks to mutual funds. Standard Chartered MF is in a unique position to build upon its brand image and penetrate the yet unexplored semi urban and rural market. Given the present outlook of the mutual funds industry in India, investors education holds the key to success. Here again, Standard Chartered MF can utilize its huge distribution network to promote investor awareness through various programmes and hence gain market share. A wave of consolidation has swept over the Indian mutual fund industry recently. Standard Chartered MF can also explore the option of taking over another AMC to boost its market presence It can potentially lead to higher operating margins, improved market share and high ROCE and RONW. Interaction with distributors has to improve vastly in order to tap significant opportunities on the front. Another significant opportunity could be in the form of targeting segments rather than market share. Standard Chartered mf can take advantage of its pedigree to secure a foothold in government - affiliated organization and institution. This segment presents a tremendous opportunity for Standard Chartered MF in the long term. Nowadays, investors are increasingly seeking a full range of services - portfolio management, risk minimization, return optimization, regular updates etc. - rather than just an investment avenue. Many other private sector fund houses have based their strategic advantages on this thrust . Standard Chartered MF should also adapt itself to gain maximum mileage from this opportunity.
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THREATS
Being a part of the mutual fund industry, Standard Chartered MF is wedded to market and credit risks. The Indian mutual fund industry is governed largely by SEBI, which at times is harsh with its taxation policies. There is also a high degree of correlation between mutual funds performance and the political scenario of the country as the market is based on sentiments.
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2. COMPANY PROFILE
STANDARD CHARTERED IN INDIA
The standard chartered bank opened its first overseas branch in India, at Calcutta (kolkata), on 12 April 1858. Eight years later the Calcutta agent described the banks credit locally as splendid & its business as flourishing, particularly the substantial turnover in rice bills with the leading Arab firms. When the chartered bank first established in India, Calcutta was the most important commercial city, & was the center of the jute & indigo trades. With the growth of the cotton trade & the opening of the Suez Canal in 1869, Bombay (Mumbai) took over from Calcutta as Indias main trade center. Today the banks branches & sub-branches in India are directed & administrated from Mumbai with kolkata remaining an important trading & banking center. Standard Chartered is the largest international banking group in India. Key businesses include consumer banking primarily credit cards, debit cards personal loans & wealth management & wholesale banking, where the bank specializes in the provision of the cash management, trade, finance, treasury, & custody services.
OVERVIEW
Standard Chartered is the world's leading emerging markets bank. It employs 30,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. Consumer Bank provides savings account, credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses.
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Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, and interest rate management and debt capital markets. With nearly 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities lies to its staff and to the communities in which it operates. Present Contribution of Standard chartered India towards Standard chartered Group Worldwide is 9%. The vision of the Standard Chartered Group is to increase the profit share from India from 9% to as high as 30% of the group profit. Every 3rd family in the Metros should be a Standard Chartered customer. To be the Second largest profit making Bank in India after State Bank of India.
COMPANY VALUES
COURAGEOUS Bank encourages the people to take measured risks to deliver improved results for all our stakeholders. Where this results in mistakes, we seek to learn from our experience, to build better long-term solutions. RESPONSIVE Bank delivers in putting customers at the heart of our business. We spend time listening to our customer to understand whom they are & how they operate to anticipate their needs.
TRUSTWORTHY
It is our people who set us above organizations through a unique ability to build trusted relationships with all stakeholders.
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STRENGTHEN THE CULTURE The aim of the strengthening the culture are: Consumer focus Excellence is the standard Decisiveness
culture is to make standard charted a great place to work. The aspects involved in
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3. RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problems. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that area generally adopted by a researcher in studying his research problem along with the logic behind them. It is necessary for the researcher to know not only the research methods / techniques but also the methodology. I have carried out a research which is both qualitative and quantitative in its support. The qualitative approach applies to both, descriptive and inductive forms of research. While as in case of quantitative approach, an extensive use has been made of the literature available to carry out a detail research on the nature of the problem. I have chosen Standard chartered as the target company for my research study.
RESEARCH OBJECTIVES
Explore the various investment option available to Indian investors and figure out where mutual funds fit in. Understand the concept, organization and working of a mutual fund and the edge it retains over other investment avenues . Comprehend the intricacies of the Indian mutual fund industry .Review the current standing and future prospects of Standard Chartered Mutual Fund amid intense competition n the swiftly evolving Indian mutual fund industry
NATURE OF DATA:
I have made use of both, the primary sources and the secondary sources of data in eliciting information. PRIMARY DATA: The primary source of data involves oral interviews and questionnaires. These sources are inadvertently expected to yield more qualitative data and results. SAMPLE SIZE: SAMPLE UNIT: 60 Officials of SCB and the investors on Mutual Funds
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SURVEY AREA:
NCR Delhi
DATA COLLECTION
The task of data collection begins after a research problem has been defined and research design/ plan chalked out. While deciding about the method of data collection to be used for the study, the researcher should keep in mind two types of data viz., primary and secondary. The primary data are those which are collected fresh and for the first time and thus happen to be original in character. The secondary data, on the other hand, are those which have already been collected by some one else and which have already been passed through the statistical process.
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DATA ANALYSIS
THE TERMINOLOGIES USED NET ASSET VALUE (NAV):
NAV indicates the intrinsic worth of a scheme. NAV per unit represents the worth of each unit that is held by investor.
MATHEMATICALLY:
NAV = (Value of all Assets) - (Value of Liabilities, excluding those to unit holders) OR NAV = Unit Capital + Reserves Eg: No. of units = 1000 Liabilities Unit Capital 15,000 Reserves 13,000 Other Liabilities 2,000 Total 30,000 NAV = Asset Liabilities = Rs. 30,000 Rs. 2,000 NAV = Rs. 28,000 NAV = Unit Capital + Reserves = Rs. 15,000 + Rs. 13,000 NAV = Rs. 28,000 NAV per unit = Rs. 28,000/1,000 = Rs. 28.00 Assets Investment Other Assets Issue Expenses 25,000 4,000 1,000 30,000
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ANALYSIS DATA
AND
INTERPRETATION
OF
INVESTMENT CHANNEL FIXED DEPOSITS BONDS & DEBENTURES SHARES MUTUAL FUNDS OTHERS
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Two of The distributors contacted did not answer the question as they said it was a policy matter. As investors have got their fingers burnt in equities, they now prefer mutual fund for investments. The next hot choice is bonds and debentures, followed by fixed deposits that are safer investment channels. The response is totally against equities that dont mean it is a bad choice. In fact, it is a high risk-high gain investment. The response is under impression of slow down in stock market.
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Mutual fund is the latest invest on among the available investment options before Indian investors, still it has been rated good by 81% of the respondents, while 19% rate it the best investment channel. As it provides professional management and reduces the risk by diversifying the portfolio, the investors move towards this concept.
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SCORE 03 17 01 05
The response is again the reflection of the stock market. In answer to the question where will you advise investments, 82% favored debt market while 18% went for balanced approach means investing in all the market in a definite ratio depending on the risk profile of the investor.
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14 12 10 8 6 4 2 0 HIGHLY AWARE 5
13
AWARE
LESS AWARE
UNAWARE
The awareness level among the investors about mutual fund is not very good, but among the aware ones the Standard Chartered mutual fund has very encouraging response considering the fact that Standard Chartered has not completed even a year in mutual fund. Around 50% of the distributors feel that investors are aware of Standard Chartered mutual fund. And 31% feel are less aware there are only 19% who think people are highly aware of it
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The response shows that within the short period of time mutual fund has become an attractive investment channel. 57%of the respondents think it an excellent opportunity and 43% find it good investment
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WEIGHTAGE 19 21 16 15
21%
27%
Responses of the AMCs are not much different as this also proves professional management, with 29% support the core concept behind mutual funds popularity. This illustrates the fact that investors feel that AMCs are better manager of their money. 27% respondents think it is due to portfolio diversification and the 23% respondents feel it to be risk diversification and 23% respondents say factors are important. its is convenience that brings investors to mutual fund. It has been said that all the above
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25 20 15 10 5 0
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22 14 11
As for as diver behind the performance is concerned, Returns and Agent network have scored the most with 63% in total the least is Portfolio with 16%.
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Selling the fund is not an easy task at all. The responses show how competitive the market is. That is why 57% of them are of the option that the market is very competitive. My experience during the project also goes with the fact that mutual fund market is very highly competitive. To back but it is very new and it has still to prove itself on different fronts it shares the third spot with Kothari Pioneer.
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The respondents say that the general investors do not understand the portfolio and other technical terms. They just ask for how much return is expected. Another factor that they consider is that how much risk is involved in the investment. But the learned ones know the importance of Portfolio thats about 25% and also about 12% find it is the service that also plays role in the decision making of an investor
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7 6 5 4 3 2 1 0 YES NO
If we talk about awareness among the investors about mutual fund, it is very low comparing the potential of the industry. All the AMCs unanimously feel the need of good amount of awareness and promotional exercises.
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4. CONCLUSION
The sample size taken was small (60) while the population with respect to it is very large. So the sample didnt bear the proper characteristics of the population. There was difficulty in getting the Questionnaires filled because of reluctant attitude (income disclosure) & lack of knowledge (about Mutual Funds) of the respondents. Research was restricted to only few areas of Delhi due to unavoidable reasons. Cost of the research was to be kept low so proper resources of collecting data cant be tapped. Lack of experience of the researchers was the biggest fallacy to the research processes. The study can be extended beyond the Delhi region. No. of researchers can be increased to conduct an intensive study. It can also involve study of various impediments in the investment avenues. Comparative analysis can be done of various instruments. Time for research can be increased for better results. Take help from a research organization to tap more resources at our disposal.
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7.
The performance of Standard Chartered Mutual Fund in other schemes like Debt oriented, Liquid and Balanced is also very good as the financial analysis shows that it has the least negative NAV Absolute Return in the balanced fund over last six months and in the liquid fund it has given the second best growth rate in last 180 days.
8.
In the Equity funds, Standard Chartered, is still very low down the order but the concern part is that the performance, No matter there was a short-span of time available for Its performance as its reputation is not satisfactory at all, especially when it entered after the boom of IT sector which fell a long way. And now the stock market is at its worse.
9.
The AMCs in U.P. division place Standard Chartered among top three toughest competitors, that is a good remark for Standard Chartered, awarded within short period of time.
10.
The distributors rate Standard Chartered the next best fund after Templeton and 96% of the distributors feel that Standard Chartered has done well with the market conditions.
11.
The ban on Badla has been a boon for the Mutual Fund Industry that is why the Bala dealers have routed Rs. 2000 corers to the Industry in the last month and is still pouring in.
12.
The findings of the UTI debacle has been missed some of the experts feel that the impact will be average or no impact. They feel that the private Mutual Funds will be the gainers, as the money will be transferred to them as they are more transparent. But at the same time some experts have a complete different view they feel that the credibility of the entire Industry is at stake in the light of the UTI 64 debacle.
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REPEAT CUSTOMERS
Customers visiting the SCB branch generally stay nearby and therefore come to the same branch every time they require services the customer footfall is therefore generally the same and hence require us not to approach the customers again and again
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7. ANNEXURE - NUMBERING
SCHEMES Scheme Name Fund Family Category Scheme Type Value NAV Research NAV Date (Rs.) Rating* 10.58 10/10/2006 10.30 10/10/2006 12.72 10/10/2006 10.58 10/10/2006 10.20 10/10/2006 12.65 10/10/2006 -10.00 10/10/2006
Grindlays Cash Fund Debt Standard Institutional(UltraShort OpenEnded Chartered Dividend Daily Inst) Grindlays Cash Fund Debt Standard Institutional(UltraShort OpenEnded Chartered Dividend Weekly Inst) Debt Grindlays Cash Fund Standard (UltraShort OpenEnded Institutional-Growth Chartered Inst) Grindlays Cash Standard Debt OpenEnded Fund-Daily Dividend Chartered (UltraShort) Grindlays Cash Standard Debt Fund-Dividend OpenEnded Chartered (UltraShort) Weekly Grindlays Cash Standard Debt OpenEnded Fund-Growth Chartered (UltraShort) Grindlays Cash Debt Super Institutional Standard (UltraShort OpenEnded Plan C-Dividend Chartered Inst) Daily Grindlays Cash Debt Super Institutional Standard (UltraShort OpenEnded Plan C-Dividend Chartered Inst) Monthly Grindlays Cash Debt Super Institutional Standard (UltraShort OpenEnded Plan C-Dividend Chartered Inst) Weekly Grindlays Cash Debt Standard Super Institutional (UltraShort OpenEnded Chartered Plan C-Growth Inst) Grindlays Dynamic Standard DebtBond Fund-Dividend OpenEnded Chartered Speciality Quarterly Grindlays Dynamic Standard DebtBond Fund-Dividend OpenEnded Chartered Speciality Yearly Grindlays Dynamic Standard Debt- OpenEnded
--
10.02 10/10/2006
--
10.00 10/10/2006
-----
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Bond Fund-Growth Chartered Grindlays Fixed Standard Saving Scheme 8th Chartered Plan A-Dividend Grindlays Fixed Standard Saving Scheme 8th Chartered Plan A-Growth Grindlays Fixed Standard Saving Scheme 9th Chartered Plan A-Dividend Grindlays Fixed Standard Saving Scheme 9th Chartered Plan A-Growth Grindlays Floating Standard Rate Long-term Plan Chartered A-Dividend Montly Grindlays Floating Rate Long-term Plan Standard A-Dividend Chartered Quarterly Grindlays Floating Standard Rate Long-term Plan Chartered A-Dividend Yearly Grindlays Floating Standard Rate Long-term Plan Chartered A-Growth Grindlays Floating Standard Rate Long-term Plan Chartered B-Dividend Monthly Grindlays Floating Rate Long-term Plan Standard B-Dividend Chartered Quarterly Grindlays Floating Standard Rate Long-term Plan Chartered B-Dividend Weekly Grindlays Floating Standard Rate Long-term Plan Chartered B-Growth Grindlays Floating Standard Rate Short-term Chartered Fund-Dividend Daily Grindlays Floating Rate Short-term Standard Fund-Dividend Chartered Monthly Grindlays Floating Standard Rate Short-term Chartered
Speciality DebtCloseEnded Speciality DebtCloseEnded Speciality DebtCloseEnded Speciality DebtCloseEnded Speciality Debt (FR OpenEnded Long-term) Debt (FR OpenEnded Long-term) Debt (FR OpenEnded Long-term) Debt (FR OpenEnded Long-term) Debt (FR Long-term OpenEnded Inst) Debt (FR Long-term OpenEnded Inst) Debt (FR Long-term OpenEnded Inst) Debt (FR Long-term OpenEnded Inst) Debt (FR OpenEnded Short-term) Debt (FR OpenEnded Short-term) Debt (FR OpenEnded Short-term) -----10.24 05/10/2006 10.24 05/10/2006 10.00 05/10/2006 10.34 05/10/2006 10.03 10/10/2006
--
10.12 10/10/2006
----
--
10.13 10/10/2006
---
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Fund-Dividend Weekly Grindlays Floating Rate Short-term Fund-Growth Grindlays Floating Rate Short-term InstitutionalDividend Daily Grindlays Floating Rate Short-term InstitutionalDividend Monthly Grindlays Floating Rate Short-term InstitutionalDividend Weekly Grindlays Floating Rate Short-term Institutional-Growth Grindlays Floating Rate Short-term Super Institutional Plan C-Dividend Daily Grindlays Floating Rate Short-term Super Institutional Plan C-Dividend Monthly Grindlays Floating Rate Short-term Super Institutional Plan C-Dividend Weekly Grindlays Floating Rate Short-term Super Institutional Plan C-Growth Grindlays Government Securities Investment PlanDividend Annually Grindlays Government Securities Investment PlanDividend Half s
Standard Debt (FR OpenEnded Chartered Short-term) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Debt (FR Standard Short-term OpenEnded Chartered Inst) Standard Chartered Standard Chartered Debt-Gilt OpenEnded (Md&Lg) Debt-Gilt OpenEnded (Md&Lg) --
11.38 10/10/2006
10.07 10/10/2006
--
10.02 10/10/2006
--
10.10 10/10/2006
--
11.23 10/10/2006
--
10.00 10/10/2006
--
10.03 10/10/2006
--
10.00 10/10/2006
--
10.80 10/10/2006
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Yearly Grindlays Government Standard Securities Chartered Investment PlanDividend Quarterly Grindlays Government Standard Securities Chartered Investment PlanGrowth Grindlays Government Standard Securities Provident Chartered Plan InstitutionalDividend Quarterly Grindlays Government Standard Securities Provident Chartered Plan InstitutionalGrowth Grindlays Government Standard Securities Provident Chartered Plan RegularDividend Quarterly Grindlays Government Standard Securities Provident Chartered Plan RegularDividend Yearly Grindlays Government Standard Securities Provident Chartered Plan Regular-Growth Grindlays Government Standard Securities Short Chartered Term-Dividend Monthly Grindlays Government Standard Securities Short Chartered Term-Dividend Quarterly Grindlays Government Standard Securities Short Chartered Term-Growth s
10.05 10/10/2006
12.69 10/10/2006
10.05 10/10/2006
10.28 10/10/2006
10.04 10/10/2006
10.24 10/10/2006
10.24 10/10/2006
10.01 10/10/2006
10.04 10/10/2006
11.86 10/10/2006
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Grindlays SSI Fund Short-term Standard InstitutionalChartered Dividend Monthly Grindlays SSI Fund Standard Short-term Chartered Institutional-Growth Grindlays SSI Fund Short-term Super Standard Institutional Plan C- Chartered Dividend Monthly Grindlays SSI Fund Short-term Super Standard Institutional Plan C- Chartered Growth Grindlays Super Saver Income Fund Standard Short-term-Dividend Chartered Monthly Grindlays Super Standard Saver Income Fund Chartered Short-term-Growth Grindlays Super Saver Income Standard Investment-Dividend Chartered Half Yearly Grindlays Super Saver Income Standard Investment-Dividend Chartered Quarterly Grindlays Super Saver Income Standard Investment-Dividend Chartered Yearly Grindlays Super Standard Saver Income Chartered Investment-Growth Grindlays Super Saver Income Standard Medium TermChartered Dividend Grindlays Super Saver Income Standard Medium TermChartered Growth Standard Chartered Standard All Seasons Bond Chartered Fund Plan ADividend Half s
Debt (Short OpenEnded Inst) Debt (Short OpenEnded Inst) Debt (Short OpenEnded Inst) Debt (Short OpenEnded Inst) Debt OpenEnded (Short) Debt OpenEnded (Short) Debt OpenEnded (Medium) Debt OpenEnded (Medium) Debt OpenEnded (Medium) Debt OpenEnded (Medium) Debt OpenEnded (Medium) Debt OpenEnded (Medium) Debt- OpenEnded Speciality
--
10.02 10/10/2006
--
10.06 10/10/2006
--
10.02 10/10/2006
--
10.06 10/10/2006
10.03 10/10/2006
13.67 10/10/2006
10.18 10/10/2006
10.05 10/10/2006
10.20 10/10/2006
15.95 10/10/2006
10.22 10/10/2006
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Yearly Standard Chartered All Seasons Bond Standard DebtOpenEnded -10.10 10/10/2006 Fund Plan AChartered Speciality Dividend Quarterly Standard Chartered All Seasons Bond Standard DebtOpenEnded -10.46 10/10/2006 Fund Plan AChartered Speciality Dividend Yearly Standard Chartered Standard DebtAll Seasons Bond OpenEnded -10.51 10/10/2006 Chartered Speciality Fund Plan A-Growth Standard Chartered Standard EquityClassic Equity FundOpenEnded -11.15 07/10/2006 Chartered Diversified Dividend Standard Chartered Standard EquityPremier Equity OpenEnded -9.69 07/10/2006 Chartered Diversified Fund-Dividend Standard Chartered Standard EquityPremier Equity OpenEnded -9.69 07/10/2006 Chartered Diversified Fund-Growth *Rating is on a scale of 1 to 5 indicating worst to best schemes,if performance for 18 months is available.
QUESTIONNAIRE
QUESTIONNAIRE FOR CUSTOMERS VIEWS ON MUTUAL FUNDS
NAME:
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ADDRESS: Q1. Do you know about standard chartered mutual funds? a). YES b). NO Q2. Where do you invest your surplus funds? a). Fixed deposits b). Post office schemes c). Mutual funds d). Banks Q3. Which scheme do you prefer for investments? a). Equity b). Balanced c). Debt Q4. What is the time horizon while investing? a). 1 year b). 3 to 5 years c). 5 years and above
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Q.6 D o you think SC mutual funds are the best in the market Yes No
Q.7 Yes No
Mutual funds are the least risky investment today, do you agree
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8. BIBLIOGRAPHY
Websites
Standard charterdmf.com (www.oecd.org/dataoecd/41/19/41911510pdf.) Capital market.co(www.capital market.com/magazine/cm1319/face.htm.) Mfindia.com (home. catholic web.com/ mfindia/) Business-standard.com (www.alexa.com/site info/business-standard.com) ICICI direct.com (content icicidirect.com/active trade asp.)
MAGAZINES
Economics times Business standard Financial times Outlook money Capital market Investors India
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