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A PROJECT REPORT ON

STUDY OF CAPITAL MARKET WITH RESPECT TO ANGEL BROKING.


submitted in partial fulfillment of the requirement for the award of Master Degree in Business Administration (M.B.A) Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur

Submitted by

Mr .Rahul P. Sawalakhe
DEPARTMENT OF MANAGEMENT STUDIES
B. D. COLLEGE OF ENGINEERING, SEVAGRAM(Session 2009-2011)

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Department of Management Studies


B. D. College of Engineering, Sevagram

CERTIFICATE
This is to certify that the following student of MBA.have presented the project on STUDY OF CAPITAL MARKET WITH RESPECT TO ANGEL BROKINGin the partical fulfillment of his work during the session 2009-20011 prescribed by Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur. This is also to certify that project is the result of candidates own work and is of sufficiently high standard to warrant its submission to the college. To the best of my knowledge the matter presented in this project report has not been submitted earlier. The assistance and help rendered to him during the course of his project work in the form of basic source material and information have been duly acknowledged.

Prof. S.V. Deshmukh

Mr. RAHUL RUDKAR

CO-ORDINATOR BDCOE,SEWAGRAM

PROJECT GUIDE Sshri investment & stock market Center,amravati Dr.S.S.KHANDARE Principal BDCOE, SEWAGRAM

Date:

PLACE: SEWAGRAM

A Project On
COMPARATIVE ANALYSIS OF EQUITY FUND

WITH RESPECT TO RELIANCE MUTUAL FUND & HDFC MUTUAL FUND."

Submitted to R. T. M. Nagpur University, Nagpur In Partial Fulfillment Of The Requirement For The Degree Master Of Business Administration.

-Submitted byRAHUL P. SAWALAKHE

Under the Guidance of Prof. RAHUL GAJBHIYE SIR

DEPARTMENT OF MANAGEMENT STUDIES B.D. College of Engineering, Sevegram Session 2009-2011

DECLARATION
The Work presentation in this Project has been carried out by me as a bonafied students of the BAPURAO DESHMUKH ENGINNERING COLLEGE & DEPT. OF MANAGEMENT STUDIES,SEWAGRAM during the Academic Session 2009-2011Rashtrasant Tukadoji Maharaj NagpurUniversity,Nagpur. I hereby declare that this project titled study of share market with respect to angel broking is a bonafied and authentic record of work done by me under supervision of Mr.Rahul Rudkar." The work presented here is not duplicated from any other source & also not submitted earlier for any other degree/diploma to any university. I understand that any such duplication is liable to be punished in accordance with the university rules.

Submitted by

Rahul Sawalahke

(MBA-III Sem)
Date: ___/___/_____ Place: SEVAGRAM

ACKNOWLEDGEMENT
I wish to express my sincere thanks to Honourable Mr. RAHUL RUDKAR, (Director) SSHRI INVESTMENT, for providing me varieties of opportunities, information and inspiration to gather professional knowledge and material without which it would been impossible to complete this hard task. I take this opportunity to express our deep gratitude and whole hearted thanks to my project guide Mr. RAHUL RUDKAR for him guidance throughout this work. I am very much thankful to him, for him kindness, encouragement and the valuable time, which he had devoted to me. I wish to thank all those, who have helped us in our way or the others in bringing out this project report. Last but not the least; my heart full love for my parents, whose constant support and blessings helped me throughout this project. Rahul Sawalakhe

(MBA-III Sem)

Date: ___/___/_____ Place: SEVAGRAM

INDEX

INTRODUCTION OBJECTIVES OF STUDY SCOPE OF STUDY RESEARCH METHODOLOGY HYPOTHESIS DATA ANALYSIS & INTERPRETATION FINDING SUGGESIONS CONCLUSIONS
BIBLIOGRAPHY

INTRODUCTION: 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 invested by the fund manager in different types of securities depending upon the objective of the scheme. These could range from shares to debentures to money market instruments. The income earned through these investments and the capital appreciation realized by the scheme is shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed portfolio at a relatively low cost. Anybody with an investible surplus of as little as a few thousand rupees can invest in Mutual Funds. Each Mutual Fund scheme has a defined investment objective and strategy. A mutual fund is the answer to all these situations. It appoints professionally qualified and experienced staff that manages each of these functions on a full time basis. The large pool of money collected in the fund allows it to hire such staff at a very low cost to each investor. In effect, the mutual fund vehicle exploits economies of scale in all three areas - research, investments and transaction processing. While the concept of individuals coming together to invest money collectively is not new, the mutual fund in its present form is a 20 th century phenomenon. In fact, mutual funds gained popularity only after the Second World War. Globally, there are thousands of firms offering tens of thousands of mutual funds with different investment objectives. Today, mutual funds collectively manage almost as much as or more money as compared to banks. A sponsor then hires an asset management company to invest the funds according to the investment objective. It also hires another entity to be the custodian of the assets of the fund and perhaps a third one to handle registry work for the unit holders (subscribers) of the fund. In the Indian context, the sponsors promote the Asset Management Company also, in which it holds a majority stake. In many cases a sponsor can hold a

100% stake in the Asset Management Company (AMC). E.g. Birla Global Finance is the sponsor of the Birla Sun Life Asset Management Company Ltd., which has floated different mutual funds schemes and also acts as an asset manager for the funds collected under the schemes.

Mutual funds are financial intermediaries, which collect the savings of small investors and invest them in a diversified portfolio of securities to minimize risk and maximize returns for their participants. Mutual funds have given a major fillip to the capital market both primary as well as secondary. The units of mutual funds, in turn, are also tradable securities. Their price is determined by their net asset value (NAV) which is declared periodically. The operations of the private mutual funds are regulated by SEBI with regard to their registration, operations, administration and issue as well as trading.


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 shares, debentures and other securities. The income earned through these investments and the capital appreciation realized are shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost.

MUTUAL FUND IS THE POOL/ COLLECTION OF MONEY COLLECTED FROM PEOPLE WITH COMMON OBJECTIVES. THE MONEY COLLECTED IS THEN INVESTED IN CAPITAL MARKET INSTRUMENTS SUCH AS SHARES, DEBENTURES & OTHER SECURITIES. THE ORIGIN OF MUTUAL FUND INDUSTRY IN INDIA IS WITH THE INTRODUCTION OF THE CONCEPT OF MUTUAL FUND BY UTI IN YR. 1963,THEN NON UTI PLAYERS ENTERED THE INDUSTRY FROM 1987.

MUTUAL FUNDS ARE REGULATED BY A HOST OF AGENCIES SUCH AS RBI, SEBI & UTIS OWN GUIDELINES. IN THE CURRENT FINANCIAL YR., 25 AMCS HAVE CONDUCTED. THE AMC IS APPOINTED BY THE INVESTMENT MANAGER OF THE MUTUAL FUND. AMC IS REQUIRED TO BE APPROVED BY THE SEBI. THEIR PRICE IS DETERMINED BY THEIR NAV. NAV IS THE MARKET VALUE OF THE SECURITIES HELD BY THE SCHEMES. NAV CHANGES EVERYDAY FOR OPEN ENDED SCHEMES & NOT CHANGES IN CLOSE ENDED SCHEMES. IN OPEN ENDED SCHEMES, THE INVESTORS ARE ALLOWED TO INVEST & WITHDRAW THEIR MONEY ANY TIME. IN CLOSE ENDED SCHEMES, THE INVESTORS ARE ALLOWED TO INVEST ANY TIME BUT WILL NOT WITHDRAW THEIR MONEY WHICH WILL FIX DEPOSIT. a) MUTUAL FUND : Mutual funds are key contributors to the globalization of financial markets and one of the main sources of capital flows to emerging economies. A mutual fund is a pool of money, collected from investors, and is invested according to certain investment options. A mutual fund is a trust that pools the savings of a number of investors who share a common financial goal. A mutual fund is created when investors put their money together. It is therefore a pool of the investors funds. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities.

b) EQUITY ORIENTED SCHEME: Equity Fund means the Mutual Fund Company Invests in ownership instrument are called Equity Fund. These schemes, also commonly called Growth Schemes, seek to invest a majority of their funds in equities and a small portion in money market instruments.

Such schemes have the potential to deliver superior returns over the long term. However, because they invest in equities, these schemes are exposed to fluctuations in value especially in the short term. Equity schemes are hence not suitable for investors seeking regular income or needing to use their investments in the short-term. They are ideal for investors who have a long-term investment horizon. The NAV prices of equity fund fluctuates with market value of the underlying stock which are influenced by external factors such as social, political as well as economic. HDFC Growth Fund, HDFC Tax Plan 2000 and HDFC Index Fund are examples of equity schemes.

Concepts, definitions and terminology


Investment
Investment is a term with several closely related meanings in finance and economics. It refers to the accumulation of some kind of asset in hopes of getting a future return from it. The purchase or ownership of a security to make money by gaining income, increasing capital, or both. . The purchasing of stocks, bonds, mutual funds, options, real estate, etc., made with the expectation of future income or capital gains.

Mutual fund
SEBI defines Mutual Fund as: A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. Anybody with an investible surplus of as little as a few thousand rupees can invest in Mutual Funds. These investors buy units of a particular Mutual Fund scheme that has a defined investment objective and strategy, the money thus collected is then invested by the fund manager in different types of securities. These could range from shares to debentures to money market instruments, depending upon the scheme's stated objectives. The income earned through these investments and the capital appreciation realized by the scheme is shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost.

OPERATIONAL FLOWCHART

Importance of Mutual Fund

Small investors face a lot of problems in the share market, limited resources, lack of professional advice, lack of information etc. Mutual funds have come as a much needed help to these investors. It is a special type of institutional device or an investment vehicle through which the investors pool their savings which are to be invested under the guidance of a team of experts in wide variety of portfolios of corporate securities in such a way, so as to minimize risk, while ensuring safety and steady return on investment. It forms an important part of the capital market, providing the benefits of a diversified portfolio and expert fund management to a large number, particularly small investors. Now days, mutual fund is gaining its popularity due to the following reasons: l. With the emphasis on increase in domestic savings and improvement in deployment of investment through markets, the need and scope for mutual fund operation has increased tremendously. 2. An ordinary investor who applies for share in a public issue of any company is not assured of any firm allotment. But mutual funds who subscribe to the capital issue made by companies get firm allotment of shares. Mutual fund latter sell these shares in the same market and to the Promoters of the company at a much higher price. Hence, mutual fund creates the investors confidence. 3. The psyche of the typical Indian investor has been summed up by Mr. S.A. Dave, Chairman of UTI, in three words; Yield, Liquidity and Security. The mutual funds, being set up in the public sector, have given the impression of being as safe a conduit for investment as bank deposits. Besides, the assured returns promised by them have investors had great appeal for the typical Indian investor. 4. As mutual funds are managed by professionals, they are considered to have a better knowledge of market behaviors. Besides, they bring a certain competence to their job. They also maximize gains by proper selection and timing of investment. 5. Another important thing is that the dividends and capital gains are reinvested automatically in mutual funds and hence are not fritted away. The automatic reinvestment

feature of a mutual fund is a form of forced saving and can make a big difference in the long run. 6. The mutual fund operation provides a reasonable protection to investors. Besides, presently all Schemes of mutual funds provide tax relief under Section 80 L of the Income Tax Act lead to the growth of importance of mutual fund in the minds of the investors. 7. As mutual funds creates awareness among urban and rural middle class people about the benefits of investment in capital market, through profitable and safe avenues, mutual fund could be able to make up a large amount of the surplus funds available with these people. 8. The mutual fund attracts foreign capital flow in the country and secures profitable investment avenues abroad for domestic savings through the opening of off shore funds in various foreign investors. Lastly another notable thing is that mutual funds are controlled and regulated by S E B I and hence are considered safe. Due to all these benefits the importance of mutual fund has been increasing.

HISTORY OF MUTUAL FUND INDUSTRY

The origin of mutual fund industry in India is with the introduction of the concept of mutual fund by UTI in the year 1963. Though the growth was slow, but it accelerated from the year 1987 when non-UTI players entered the industry.

In the past decade, Indian mutual fund industry had seen dramatic improvements, both quality wise as well as quantity wise. Before, the monopoly of the market had seen an ending phase, the Assets under Management (AUM) was Rs. 67bn. The private sector entry to the fund family raised the AUM to Rs. 470 bn in March 1993 and till April 2004; it reached the height of 1,540 bn.

Putting the AUM of the Indian Mutual Funds Industry into comparison, the total of it is less than the deposits of SBI alone, constitute less than 11% of the total deposits held by the Indian banking industry.

The main reason of its poor growth is that the mutual fund industry in India is new in the country. Large sections of Indian investors are yet to be intellectuated with the concept. Hence, it is the prime responsibility of all mutual fund companies, to market the product correctly abreast of selling.

The mutual fund industry can be broadly put into four phases according to the development of the sector. Each phase is briefly described as under.

First Phase - 1964-87


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

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

Entry of non-UTI mutual funds. SBI Mutual Fund was the first followed by Canbank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC in 1989 and GIC in 1990. The end of 1993 marked Rs.47, 004 as assets under management.

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

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

The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive and revised Mutual Fund Regulations in 1996. The industry now functions under the SEBI (Mutual Fund) Regulations 1996.

The number of mutual fund houses went on increasing, with many foreign mutual funds setting up funds in India and also the industry has witnessed several mergers and acquisitions. As at the end of January 2003, there were 33 mutual funds with total assets of Rs. 1, 21,805 crores. The Unit Trust of India with Rs.44, 541 crores of assets under management was way ahead of other mutual funds.

Fourth Phase - Since February 2003

This phase had bitter experience for UTI. It was bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust of India with AUM of Rs.29, 835 crores (as on January 2003). The Specified Undertaking of Unit Trust of India, functioning under an administrator and under the rules framed by Government of India and does not come under the purview of the Mutual Fund Regulations.

The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation of the erstwhile UTI which had in March 2000 more than Rs.76, 000 crores of AUM and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual Fund Regulations, and with recent mergers taking place among different private sector funds, the mutual fund industry has entered its current phase of consolidation and growth. As at the end of September, 2004, there were 29 funds, which manage assets of Rs.153108 crores under 421 schemes.

Types of Mutual Funds

Mutual fund schemes may be classified on the basis of its structure and its investment objective.

By Structure
Open-ended Funds
An open-end fund is one that is available for subscription all through the year. These do not have a fixed maturity. Investors can conveniently buy and sell units at Net Asset Value ("NAV") related prices. The key feature of open-end schemes is liquidity.

Closed-ended Funds
A closed-end fund has a stipulated maturity period which generally ranging from 3 to 15 years. The fund is open for subscription only during a specified period. Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where they are listed. In order to provide an exit route to the investors, some close-ended funds give an option of selling back the units to the Mutual Fund through periodic repurchase at NAV related prices.

Interval Funds
Interval funds combine the features of open-ended and close-ended schemes. They are open for sale or redemption during pre-determined intervals at NAV related prices.

By Investment Objective
Growth Funds

The aim of growth funds is to provide capital appreciation over the medium to longterm. Such schemes normally invest a majority of their corpus in equities. It has been proven that returns from stocks, have outperformed most other kind of investments held over the long term. Growth schemes are ideal for investors having a long-term outlook seeking growth over a period of time.

Income Funds
The aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures and Government securities. Income Funds are ideal for capital stability and regular income.

Balanced Funds
The aim of balanced funds is to provide both growth and regular income. Such schemes periodically distribute a part of their earning and invest both in equities and fixed income securities in the proportion indicated in their offer documents. In a rising stock market, the NAV of these schemes may not normally keep pace, or fall equally when the market falls. These are ideal for investors looking for a combination of income and moderate growth.

Money Market Funds


The aim of money market funds is to provide easy liquidity, preservation of capital and moderate income. These schemes generally invest in safer short-term instruments such as treasury bills, certificates of deposit, commercial paper and inter-bank call money. Returns on these schemes may fluctuate depending upon the interest rates prevailing in the market. These are ideal for Corporate and individual investors as a means to park their surplus funds for short periods.

Load Funds

A Load Fund is one that charges a commission for entry or exit. That is, each time you buy or sell units in the fund, a commission will be payable. Typically entry and exit loads range from 1% to 2%. It could be worth paying the load, if the fund has a good performance history.

No-Load Funds A No-Load Fund is one that does not charge a commission for
entry or exit. That is, no commission is payable on purchase or sale of units in the fund. The advantage of a no load fund is that the entire corpus is put to work.

Other Schemes
Tax Saving Schemes
These schemes offer tax rebates to the investors under specific provisions of the Indian Income Tax laws as the Government offers tax incentives for investment in specified avenues. Investments made in Equity Linked Savings Schemes (ELSS) and Pension Schemes are allowed as deduction u/s 88 of the Income Tax Act, 1961. The Act also provides opportunities to investors to save capital gains. .

Mutual Fund Operation Flow Chart

Mutual fund operations is a circle in which the investors pool in their money to earn income and then the fund manager invests the money in securities, which may be debt or equity, which in turn generates income in the form of returns to the investors and then investors again invest their money. So the circle continues with more investors coming in and some of them leaving.

Benefits of Mutual Fund investment


Professional Management
Mutual Funds provide the services of experienced and skilled professionals, backed by a dedicated investment research team that analyses the performance and prospects of companies and selects suitable investments to achieve the objectives of the scheme.

Diversification
Mutual Funds invest in a number of companies across a broad cross-section of industries and sectors. This diversification reduces the risk because seldom do all

stocks decline at the same time and in the same proportion. You achieve this diversification through M Fund with less money than you can do on your own.

Convenient Administration
Investing in a Mutual Fund reduces paperwork and helps you avoid many problems such as bad deliveries, delayed payments and follow up with brokers and companies. Mutual Funds save your time and make investing easy and convenient.

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.

Low Cost
Mutual Funds are a relatively less expensive way to invest compared to directly investing in the capital markets because the benefits of scale in brokerage, custodial and other fees translate into lower costs for investors.

Liquidity
In open-end schemes, the investor gets the money back promptly at net asset value related prices from the Mutual Fund. In closed-end schemes, the units can be sold on a stock exchange at the prevailing market price or the investor can avail of the facility of direct repurchase at NAV related prices by the Mutual Fund.

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.

Flexibility
Through features such as regular investment plans, regular withdrawal plans and

dividend reinvestment plans, you can systematically invest or withdraw funds according to your needs and convenience.

Affordability
Investors individually may lack sufficient funds to invest in high-grade stocks. A mutual fund because of its large corpus allows even a small investor to take the benefit of its investment strategy.

Choice of Schemes
Mutual Funds offer a family of schemes to suit your varying needs over a lifetime.Well

Regulated All Mutual Funds are registered with SEBI and they function within the
provisions of strict regulations designed to protect the interests of investors. The operations of Mutual Funds are regularly monitored by SEBI.

Drawbacks of Mutual Funds


Mutual funds have their drawbacks and may not be for everyone:
No Guarantees

No investment is risk free. If the entire stock market declines in value, the value of mutual fund shares will go down as well, no matter how balanced the portfolio. Investors encounter fewer risks when they invest in mutual funds than when they buy and sell stocks on their own. However, anyone who invests through a mutual fund runs the risk of losing money.

Fees and commissions

All funds charge administrative fees to cover their day-to-day expenses. Some funds also charge sales commissions or "loads" to compensate brokers, financial consultants, or financial planners. Even if you don't use a broker or other financial adviser, you will pay a sales commission if you buy shares in a Load Fund.

Taxes
During a typical year, most actively managed mutual funds sell anywhere from 20 to 70 percent of the securities in their portfolios. If your fund makes a profit on its sales, you will pay taxes on the income you receive, even if you reinvest the money you made.

Management risk
When you invest in a mutual fund, you depend on the fund's manager to make the right decisions regarding the fund's portfolio. If the manager does not perform as well as you had hoped, you might not make as much money on your investment as you expected. Of course, if you invest in Index Funds, you forego management risk, because these funds do not employ managers.

COMPANY PROFILE:1) HDFC MUTUAL FUND: HDFC Mutual Fund was setup on June 30, 2000 with two sponsors namely Housing Development Finance Corporation Limited and Standard Life Investments Limited.

HDFC Mutual Fund has witnessed significant growth in the past few years. It is regulated by HDFC Asset Management Company Limited (AMC) which works as an Asset Management Company (AMC) for HDFC Mutual Fund. HDFC Asset Management Company Limited (AMC) is a Joint Venture concern between the large-scale housing finance company HDFC and British investment firm Standard Life Investments Limited.

Equity funds:
HDFC Capital Builder Fund HDFC Core and Satellite Fund HDFC Equity Fund HDFC Growth Fund HDFC Long Term Equity fund HDFC Premier Multi-Cap Fund HDFC Top 200 Fund HDFC Mid-Cap opportunities

2) RELIANCE MUTUAL FUND:Reliance Mutual Fund (RMF) was established as trust under Indian Trusts Act, 1882. The sponsor of RMF is Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the Trustee. It was registered on June 30, 1995 as Reliance Capital Mutual Fund, which was changed on March 11, 2004. Reliance Mutual Fund was formed for launching of 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 Reliance Mutual Fund is one of the most popular and leading mutual fund in India. The Fund is owned by Anil Dhirubhai Ambani Group and with respect to net worth it ranks among the top three of all the private financial service providers in India. It is an ISO 9001:2000 certified company, which offers innovative mutual fund products to a wide pool of customers. The Reliance mutual fund products are available in hundred and fifteen cities across India. It is one of the fastest growing mutual fund in India and the main reason of its popularity is that it has a wide portfolio of products that meets the requirements of each and every type of investors. The Reliance Mutual Fund is headed by Mr. Vikrant Gugnani -the CEO of the company.

Equity Funds:-

Reliance Vision Reliance Growth

OBJECTIVES OF STUDY:-

1) To get an insight knowledge about mutual fund. 2) To evaluate customer feedback on the mutual funds. 3) To estimate the risks involved in the mutual funds. 4) The aim of Equity funds is to provide capital appreciation over the medium to Long-term. 5) Aims at providing capital appreciation through investments predominantly in equity oriented securities 6) To have comparative study.

SCOPE OF STUDY:1) The scope of study refers to the job that to know about the activities of the organization . 2) The Reliance & HDFC groups are the topmost in Indian companies. 3) Both are growing company in the financial products.

RESEARCH METHODOLOGY:Research Methodology is a way to systematically solve the research problem.Research in common parlance refers to a search for Marketing Research is used to identify and define marketing opportunities and problems; to generate, refine, and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process.

Following are the methods used to complete the project:

Primary DataPrimary data is direct source of information to the researcher. It will be collected

by the survey, interviews, guidance of finance officer & observation method. The company provided needed information. And all other information was collected from the webside of association of mutual fund India , different process were learned from process manuals.

Secondary Data :Secondary data are collected from internet, journals, newspaper and magazines. This project is totally based on secondary data.

HYPOTHESIS:1) Reliance equity growth fund supports lower level of risk hence found more stable than the HDFC equity growth fund. 2) Reliance mutual fund is more proffitable than the HDFC mutual fund. 3) Reliance Mutual Fund is better than HDFC Mutual Fund. 4) People should invest their money in Reliance Mutual Fund as compared to HDFC Mutual Fund.

Latest Net Asset Values Scheme NAV Name HDFC Mutual Fund Net Asset Repurchase Sale Price Value Price Date

Open Ended Schemes (Income)

HDFC ARBITRAGE FUND RETAIL PLAN DIVIDEND OPTION HDFC ARBITRAGE FUND RETAIL PLAN GROWTH OPTION HDFC ARBITRAGE FUND RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC ARBITRAGE FUND WHOLESALE PLAN DIVIDEND OPTION HDFC ARBITRAGE FUND WHOLESALE PLAN GROWTH OPTION HDFC ARBITRAGE FUND WHOLESALE PLAN QUARTERLY DIVIDEND OPTION

10.426

10.322

10.426

12-Oct-2010

12.002

11.882

12.002

12-Oct-2010

10.782

10.674

10.782

12-Oct-2010

10.038

9.938

10.038

12-Oct-2010

12.092

11.971

12.092

12-Oct-2010

10.317

10.214

10.317

12-Oct-2010

HDFC Cash Management Fund Treasury Advantage - Retail Plan Daily Dividend Option HDFC Cash Management Fund Treasury Advantage - Retail Plan Monthly Dividend Option HDFC Cash Management Fund Treasury Advantage - Wholesale Plan Daily Dividend Option HDFC Cash Management Fund Treasury Advantage - Wholesale Plan Growth Option HDFC Cash Management Fund Treasury Advantage - Wholesale Plan Monthly Dividend Option HDFC Cash Management Fund Treasury Advantage - Wholesale Plan Weekly Dividend Option HDFC Cash Management Fund Treasury Advantage

10.0315

10.0315

10.0315

12-Oct-2010

10.0754

10.0754

10.0754

12-Oct-2010

10.0315

10.0315

10.0315

12-Oct-2010

20.7758

20.7758

20.7758

12-Oct-2010

10.0766

10.0766

10.0766

12-Oct-2010

10.0227

10.0227

10.0227

12-Oct-2010

20.5442

20.5442

20.5442

12-Oct-2010

-Retail Plan Growth Option HDFC Cash Management Fund Treasury Advantage -Retail Plan Weekly Dividend Option HDFC Floating Rate Income Fund-Short Term Plan - Retail Option - Dividend Daily HDFC Floating Rate Income Fund-Short Term Plan - Retail Option - Dividend Monthly HDFC Floating Rate Income Fund-Short Term Plan - Retail Option - Dividend Weekly HDFC Floating Rate Income Fund-Short Term Plan - Retail Option - Growth HDFC Floating Rate Income Fund-Short Term Plan Wholesale Option Dividend - Daily HDFC Floating Rate Income Fund-Short Term Plan Wholesale Option 10.0227 10.0227 10.0227 12-Oct-2010

10.0809

10.0809

10.0809

12-Oct-2010

10.1693

10.1693

10.1693

12-Oct-2010

10.1371

10.1371

10.1371

12-Oct-2010

15.9945

15.9945

15.9945

12-Oct-2010

10.0809

10.0809

10.0809

12-Oct-2010

10.1709

10.1709

10.1709

12-Oct-2010

Dividend - Monthly HDFC Floating Rate Income Fund-Short Term Plan Wholesale Option Dividend - Weekly HDFC Floating Rate Income Fund-Short Term Plan Wholesale Option Growth HDFC High Interest Fund-Growth Option HDFC High Interest Fund-Half Yearly Dividend Option HDFC High Interest Fund-Quarterly Dividend Option HDFC High Interest Fund-Yearly Dividend Option HDFC High Interest Fund - Short Term Plan-Dividend Option HDFC High Interest Fund - Short Term Plan-Growth Option HDFC Income FundDividend 10.1372 10.1372 10.1372 12-Oct-2010

16.1455

16.1455

16.1455

12-Oct-2010

32.1735

32.0126

32.1735

12-Oct-2010

10.8065

10.7525

10.8065

12-Oct-2010

11.1096

11.0541

11.1096

12-Oct-2010

11.7192

11.6606

11.7192

12-Oct-2010

10.6178

10.5913

10.6178

12-Oct-2010

18.922

18.8747

18.922

12-Oct-2010

10.8406

10.7322

10.8406

12-Oct-2010

HDFC Income FundGrowth HDFC MEDIUM TERM OPPORTUNITES FUND - Dividend Option HDFC MEDIUM TERM OPPORTUNITES FUND - Growth Option HDFC MF Monthly Income Plan-Long Term Plan-Growth Option HDFC MF Monthly Income Plan-Long Term Plan-Monthly Dividend Option HDFC MF Monthly Income Plan-Long Term PlanQuarterly Dividend Option HDFC MF Monthly Income Plan-Short Term Plan-Growth Option HDFC MF Monthly Income Plan-Short Term Plan-Monthly Dividend Option HDFC MF Monthly Income Plan-Short

22.1551

21.9335

22.1551

12-Oct-2010

10.0254

9.9753

10.0254

12-Oct-2010

10.1913

10.1403

10.1913

12-Oct-2010

22.8759

22.6471

22.8759

12-Oct-2010

13.2705

13.1378

13.2705

12-Oct-2010

13.5883

13.4524

13.5883

12-Oct-2010

17.0712

16.9005

17.0712

12-Oct-2010

11.4571

11.3425

11.4571

12-Oct-2010

11.7116

11.5945

11.7116

12-Oct-2010

Term PlanQuarterly Dividend Option HDFC MULTIPLE YIELD-HDFC MULTIPLE YIELD DIVIDEND HDFC MULTIPLE YIELD-HDFC MULTIPLE YIELD GROWTH HDFC Multiple Yield Fund - Plan 2005Dividend HDFC Multiple Yield Fund - Plan 2005Growth HDFC SHORT TERM OPPORTUNITIES FUND - DIVIDEND OPTION HDFC SHORT TERM OPPORTUNITIES FUND - GROWTH OPTION HDFC Short Term Plan-DIVIDEND HDFC Short Term Plan-GROWTH 11.5502 11.4347 11.5502 12-Oct-2010

17.7282

17.5509

17.7282

12-Oct-2010

11.3523

11.2388

11.3523

12-Oct-2010

15.9481

15.7886

15.9481

12-Oct-2010

10.0241

9.999

10.0241

12-Oct-2010

10.1845

10.159

10.1845

12-Oct-2010

10.3373

10.2856

10.3373

12-Oct-2010

18.4835

18.3911

18.4835

12-Oct-2010

Open Ended Schemes (Growth)

HDFC Capital Builder Fund Dividend Option HDFC Capital Builder Fund Growth Option HDFC Core and Satellite Fund DIVIDEND HDFC Core and Satellite Fund GROWTH HDFC Equity Fund Dividend Option HDFC Equity Fund Growth Option HDFC Growth Fund - Dividend Option HDFC Growth Fund - Growth Option

28.89

28.601

28.89

12-Oct-2010

119.26

118.067

119.26

12-Oct-2010

25.192

24.94

25.192

12-Oct-2010

44.312

43.869

44.312

12-Oct-2010

55.361

54.807

55.361

12-Oct-2010

301.234

298.222

301.234

12-Oct-2010

36.654

36.287

36.654

12-Oct-2010

93.602

92.666

93.602

12-Oct-2010

HDFC Index FundNifty Plan(FV Rs 10.326) HDFC Index FundSensex Plus( FVRs32.161) HDFC Index FundSensex Plan( FV Rs 32.161) HDFC MID-CAP OPPORTUNITIES FUND - Dividend Option HDFC MID-CAP OPPORTUNITIES FUND - Growth Option HDFC Premier Multi-Cap FundDividend HDFC Premier Multi-Cap FundGrowth HDFC Top 200 Fund - Dividend Option HDFC Top 200 Fund - Growth Option

52.9953

52.9953

52.9953

12-Oct-2010

244.7091

244.7091 244.7091

12-Oct-2010

168.7238

168.7238 168.7238

12-Oct-2010

16.709

16.542

16.709

12-Oct-2010

16.709

16.542

16.709

12-Oct-2010

17.963

17.783

17.963

12-Oct-2010

31.678

31.361

31.678

12-Oct-2010

53.652

53.115

53.652

12-Oct-2010

226.984

224.714

226.984

12-Oct-2010

Open Ended Schemes (Balanced)

HDFC Balanced Fund - Dividend Option HDFC Balanced Fund - Growth Option HDFC Children Gift Fund-Investment HDFC Children Gift Fund-Savings HDFC Prudence Fund - Dividend Option HDFC Prudence Fund - Growth Option

22.29

22.067

22.29

12-Oct-2010

56.645

56.079

56.645

12-Oct-2010

42.439

41.166

42.439

12-Oct-2010

22.078

21.416

22.078

12-Oct-2010

34.144

33.803

34.144

12-Oct-2010

222.291

220.068

222.291

12-Oct-2010

Open Ended Schemes (Liquid)

HDFC Cash Management Fund - Call Plan-Daily Dividend Plan HDFC Cash Management Fund - Call Plan-Growth Option HDFC Cash Management Fund - Savings Plan-Daily Dividend Option HDFC Cash Management Fund - Savings PlanGrowth Option HDFC Cash Management Fund - Savings PlanWeekly Dividend Option HDFC Liquid Fund-

10.4266

10.4266

10.4266

12-Oct-2010

15.6489

15.6489

15.6489

12-Oct-2010

10.6364

10.6364

10.6364

12-Oct-2010

19.791

19.791

19.791

12-Oct-2010

10.6321

10.6321

10.6321

12-Oct-2010

10.1982

10.1982

10.1982

12-Oct-2010

Dividend - Daily HDFC Liquid FundDividend - Monthly HDFC Liquid FundDividend - Weekly HDFC Liquid FundGROWTH HDFC Liquid FundPremium Plan Dividend-Daily HDFC Liquid FundPremium Plan Dividend-Weekly HDFC Liquid FundPremium Plus Plan Dividend-Weekly HDFC Liquid FundPREMIUM PLUSGrowth HDFC Liquid FundPREMIUM- Growth 10.2899 10.2899 10.2899 12-Oct-2010

10.3121

10.3121

10.3121

12-Oct-2010

18.7307

18.7307

18.7307

12-Oct-2010

12.2598

12.2598

12.2598

12-Oct-2010

10

10

10

12-Oct-2010

10.0018

10.0018

10.0018

12-Oct-2010

19.0172

19.0172

19.0172

12-Oct-2010

18.9786

18.9786

18.9786

12-Oct-2010

Open Ended Schemes (Gilt)

HDFC Gilt FundLong TermDividend HDFC Gilt FundLong Term-Growth HDFC Gilt FundShort TermDividend HDFC Gilt FundShort Term-Growth

10.5264

10.5264

10.5264

12-Oct-2010

19.2624

19.2624

19.2624

12-Oct-2010

10.6599

10.6599

10.6599

12-Oct-2010

16.1667

16.1667

16.1667

12-Oct-2010

Open Ended Schemes (ELSS)

HDFC Long Term Advantage Fund Dividend Option HDFC Long Term Advantage Fund Growth Option HDFC TaxSaverDividend Plan HDFC TaxSaverGrowth Plan

43.047

43.047

43.047

12-Oct-2010

147.057

147.057

147.057

12-Oct-2010

71.349

71.349

71.349

12-Oct-2010

253.97

253.97

253.97

12-Oct-2010

Open Ended Schemes (Floating Rate)

HDFC Floating Rate Income Fund-Long Term PlanDIVIDEND HDFC Floating Rate Income Fund-Long Term PlanGROWTH

10.1687

9.8636

10.1687

12-Oct-2010

16.2636

15.7757

16.2636

12-Oct-2010

Open Ended Schemes (GOLD ETFs)

HDFC Gold Exchange Traded

1959.5501 1959.5501 1959.5501

12-Oct-2010

Fund

Close Ended Schemes (Income)

HDFC FMP 100D AUGUST 2010 (1) Dividend Option HDFC FMP 100D AUGUST 2010 (1) Growth Option HDFC FMP 100D AUGUST 2010 (2) Dividend Option HDFC FMP 100D AUGUST 2010 (2) Growth Option HDFC FMP 100D August 2010 (3) Dividend Option HDFC FMP 100D August 2010 (3) Growth Option HDFC FMP 100D JULY 2010 (1)-

10.1254

12-Oct-2010

10.1254

12-Oct-2010

10.1016

12-Oct-2010

10.1016

12-Oct-2010

10.094

12-Oct-2010

10.094

12-Oct-2010

10.1435

12-Oct-2010

Dividend Option HDFC FMP 100D JULY 2010 (1)Growth Option HDFC FMP 100D June 2010 (1) Dividend Option HDFC FMP 100D June 2010 (1) Growth Option HDFC FMP 100D MARCH 2010 (1) Dividend Option HDFC FMP 100D MARCH 2010 (1) Growth Option HDFC FMP 100D September 2010 (1) Dividend Option HDFC FMP 100D September 2010 (1) Growth Option HDFC FMP 100D September 2010 (2)-Dividend Option HDFC FMP 100D September 2010 (2)-Growth Option HDFC FMP 100D September 2010 (3) Dividend Option HDFC FMP 100D September 2010 (3) 10.1435 0 0 12-Oct-2010

10.1676

12-Oct-2010

10.1676

12-Oct-2010

07-Oct-2010

07-Oct-2010

10.0565

12-Oct-2010

10.0565

12-Oct-2010

10.0499

12-Oct-2010

10.0499

12-Oct-2010

10.0251

12-Oct-2010

10.0251

12-Oct-2010

Growth OPtion HDFC FMP 100D September 2010 (4) Dividend Option HDFC FMP 100D September 2010 (4) Growth Option HDFC FMP 13M MARCH 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 13M MARCH 2008 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 13M MARCH 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 13M MARCH 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 13M MARCH 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 13M MARCH 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION 10.0083 0 0 12-Oct-2010

10.0083

12-Oct-2010

16-Apr-2009

16-Apr-2009

16-Apr-2009

16-Apr-2009

0.0000

0.0000

0.0000

21-Apr-2009

0.0000

0.0000

0.0000

21-Apr-2009

HDFC FMP 13M MARCH 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 13M MARCH 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 13M MARCH 2008 (2) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 13M March 2009 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 13M March 2009 (1) RETAIL PLAN DIVIDEND OPTION HDFC FMP 13M March 2009 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 13M March 2009 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 13M March 2010 Dividend Option

0.0000

0.0000

0.0000

21-Apr-2009

0.0000

0.0000

0.0000

21-Apr-2009

0.0000

0.0000

0.0000

21-Apr-2009

10

10

27-Apr-2010

10

10

27-Apr-2010

10

10

27-Apr-2010

10

10

27-Apr-2010

10.3772

12-Oct-2010

HDFC FMP 13M March 2010 Dividend Quarterly Option HDFC FMP 13M March 2010 Growth Option HDFC FMP 13M March 2010 (2) Dividend Option HDFC FMP 13M March 2010 (2) Dividend Quarterly Option HDFC FMP 13M March 2010 (2) Growth Option HDFC FMP 13M March 2010 (3) Dividend Option HDFC FMP 13M March 2010 (3) Dividend Quarterly Option HDFC FMP 13M March 2010 (3) Growth Option HDFC FMP 13M October 2009 DIVIDEND OPTION HDFC FMP 13M October 2009 GROWTH OPTION

10.3772

12-Oct-2010

10.3772

12-Oct-2010

10.3048

12-Oct-2010

10.0301

12-Oct-2010

10.3048

12-Oct-2010

10.2974

12-Oct-2010

10.0312

12-Oct-2010

10.2974

12-Oct-2010

10.611

12-Oct-2010

10.611

12-Oct-2010

HDFC FMP 13M October 2009 QUARTERLY DIVIDEND OPTION HDFC FMP 14M FEBRUARY 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 14M FEBRUARY 2008 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 14M FEBRUARY 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 14M FEBRUARY 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 14M February 2009 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 14M February 2009 (1) RETAIL PLAN DIVIDEND OPTION HDFC FMP 14M February 2009 (1) RETAIL PLAN GROWTH OPTION

10.0301

12-Oct-2010

0.0000

0.0000

0.0000

05-May-2009

0.0000

0.0000

0.0000

05-May-2009

0.0000

0.0000

0.0000

05-May-2009

0.0000

0.0000

0.0000

05-May-2009

25-May-2010

25-May-2010

25-May-2010

HDFC FMP 14M February 2009 (1) WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 14M February 2009 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 14M March 2010 Dividend Option HDFC FMP 14M March 2010 Dividend Quarterly Option HDFC FMP 14M March 2010 Growth Option HDFC FMP 15M December 2009 DIVIDEND OPTION HDFC FMP 15M December 2009 GROWTH OPTION HDFC FMP 15M December 2009 QUARTERLY DIVIDEND OPTION HDFC FMP 15M FEBRUARY 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 15M FEBRUARY 2008

25-May-2010

25-May-2010

10.3408

12-Oct-2010

10.0358

12-Oct-2010

10.3408

12-Oct-2010

10.4575

12-Oct-2010

10.4575

12-Oct-2010

10.0293

12-Oct-2010

11.164

10.9407

25-May-2009

10

9.8

25-May-2009

RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 15M FEBRUARY 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 15M FEBRUARY 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 16M December 2008 (1) - RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 16M December 2008 (1) - RETAIL PLAN DIVIDEND OPTION HDFC FMP 16M December 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 16M December 2008 (1) - WHOLESALE PLAN GROWTH OPTION HDFC FMP 17M November 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 17M November 2008 (1) 10 9.8 0 25-May-2009

11.2163

10.992

25-May-2009

10

9.6

09-Apr-2010

10

9.6

09-Apr-2010

11.1928

10.7451

09-Apr-2010

11.2826

10.8313

09-Apr-2010

10

10

27-Apr-2010

10

10

27-Apr-2010

- RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 17M November 2008 (1) - RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 17M November 2008 (1) - WHOLESALE PLAN - GROWTH OPTION HDFC FMP 17M November 2008 (1) - WHOLESALE PLAN - NORMAL DIVIDEND OPTION HDFC FMP 17M November 2008 (1) - WHOLESALE PLAN - QUARTERLY DIVIDEND OPTION HDFC FMP 181D AUGUST 2008 (1) RETAIL PLAN DIVIDEND OPTION HDFC FMP 181D AUGUST 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 181D AUGUST 2008 (1) WHOLESALE PLAN DIVIDEND OPTION 10 10 0 27-Apr-2010

10

10

27-Apr-2010

10

10

27-Apr-2010

10

10

27-Apr-2010

12-Mar-2009

12-Mar-2009

12-Mar-2009

HDFC FMP 181D AUGUST 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 181D October 2008 (1) RETAIL PLAN DIVIDEND OPTION HDFC FMP 181D October 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 181D October 2008 (1) WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 181D October 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M APRIL 2008 RETAIL PLAN - GROWTH OPTION HDFC FMP 18M APRIL 2008 RETAIL PLAN - NORMAL DIVIDEND OPTION HDFC FMP 18M APRIL 2008 RETAIL PLAN - QUARTERLY DIVIDEND OPTION HDFC FMP 18M APRIL 2008 WHOLESALE PLAN -

12-Mar-2009

0.00

0.00

24-Apr-2009

0.00

0.00

24-Apr-2009

0.00

0.00

24-Apr-2009

0.00

0.00

24-Apr-2009

26-Oct-2009

26-Oct-2009

26-Oct-2009

26-Oct-2009

GROWTH OPTION HDFC FMP 18M APRIL 2008 WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M APRIL 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 18M APRIL 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M APRIL 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M APRIL 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M APRIL 2008 (2) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M DECEMBER 2007 RETAIL PLAN GROWTH OPTION HDFC FMP 18M DECEMBER 2007 0 0 0 26-Oct-2009

10-Nov-2009

10-Nov-2009

10-Nov-2009

10-Nov-2009

10-Nov-2009

0.0000

0.0000

22-Jun-2009

0.0000

0.0000

22-Jun-2009

RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M DECEMBER 2007 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M DECEMBER 2007 WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M JANUARY 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 18M JANUARY 2008 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M JANUARY 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M JANUARY 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M NOVEMBER 2007 RETAIL PLAN GROWTH OPTION 0.0000 0.0000 0 22-Jun-2009

0.0000

0.0000

22-Jun-2009

11.4128

11.1845

07-Aug-2009

10

9.8

07-Aug-2009

10

9.8

07-Aug-2009

11.4412

11.2124

07-Aug-2009

19-May-2009

HDFC FMP 18M NOVEMBER 2007 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M NOVEMBER 2007 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M NOVEMBER 2007 WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M OCTOBER 2007 RETAIL PLAN GROWTH OPTION HDFC FMP 18M OCTOBER 2007 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M OCTOBER 2007 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M OCTOBER 2007 WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M OCTOBER 2007 WHOLESALE PLAN NORMAL DIVIDEND

19-May-2009

19-May-2009

19-May-2009

11.249

11.024

29-Apr-2009

10

9.8

29-Apr-2009

10

9.8

29-Apr-2009

11.3499

11.1229

29-Apr-2009

10

9.8

29-Apr-2009

OPTION HDFC FMP 18M October 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 18M October 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M October 2008 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M October 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M October 2008 (1) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M October 2008 (1) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M October 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 18M October 2008 (2) 11.6542 11.4211 0 15-Apr-2010

10

9.8

15-Apr-2010

10

9.8

15-Apr-2010

11.8137

11.5774

15-Apr-2010

10

9.8

15-Apr-2010

10

9.8

15-Apr-2010

10

10

04-May-2010

10

10

04-May-2010

RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M October 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 18M October 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M October 2008 (2) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 18M October 2009 DIVIDEND OPTION HDFC FMP 18M October 2009 GROWTH OPTION HDFC FMP 18M October 2009 QUARTERLY DIVIDEND OPTION HDFC FMP 18M SEPTEMBER 2007 RETAIL PLAN GROWTH OPTION HDFC FMP 18M SEPTEMBER 2007 RETAIL PLAN NORMAL DIVIDEND 10 10 0 04-May-2010

10

10

04-May-2010

10

10

04-May-2010

10.7479

12-Oct-2010

10.7479

12-Oct-2010

10.0299

12-Oct-2010

09-Apr-2009

09-Apr-2009

OPTION HDFC FMP 18M SEPTEMBER 2007 RETAIL PLAN QUATERLY DIVIDEND OPTION HDFC FMP 18M SEPTEMBER 2007 WHOLESALE PLAN GROWTH OPTION HDFC FMP 18M SEPTEMBER 2007 WHOLESALE PLAN QUATERLY DIVIDEND OPTION HDFC FMP 19M November 2009 DIVIDEND OPTION HDFC FMP 19M November 2009 GROWTH OPTION HDFC FMP 19M November 2009 QUARTERLY DIVIDEND OPTION HDFC FMP 20M AUGUST 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 20M AUGUST 2008 RETAIL PLAN NORMAL DIVIDEND OPTION 0 0 0 09-Apr-2009

09-Apr-2009

09-Apr-2009

10.5058

12-Oct-2010

10.5058

12-Oct-2010

10.0318

12-Oct-2010

11.8065

11.5704

27-Apr-2010

10

9.8

27-Apr-2010

HDFC FMP 20M AUGUST 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 20M AUGUST 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 20M September 2009 DIVIDEND OPTION HDFC FMP 20M September 2009 GROWTH OPTION HDFC FMP 20M September 2009 QUARTERLY DIVIDEND OPTION HDFC FMP 22M September 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 22M September 2008 RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 22M September 2008 RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 22M September 2008 -

10

9.8

27-Apr-2010

11.9814

11.7418

27-Apr-2010

10.7881

12-Oct-2010

10.7881

12-Oct-2010

10.224

12-Oct-2010

12.0659

11.8246

22-Jul-2010

10

9.8

22-Jul-2010

10

9.8

22-Jul-2010

12.256

12.0109

22-Jul-2010

WHOLESALE PLAN GROWTH OPTION HDFC FMP 22M September 2008 WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 24M February 2010 DIVIDEND OPTION HDFC FMP 24M FEBRUARY 2010 GROWTH OPTION HDFC FMP 24M February 2010 QUARTERLY DIVIDEND OPTION HDFC FMP 24M May 2007 - Retail Plan Dividend Option HDFC FMP 24M May 2007 - Retail Plan Growth Option HDFC FMP 24M May 2007 - Retail Plan Quaterly Dividend Option HDFC FMP 24M May 2007 Wholesale Plan Growth Option HDFC FMP 25M September 2010 10 9.8 0 22-Jul-2010

10.3335

12-Oct-2010

10.3335

12-Oct-2010

10.0169

12-Oct-2010

10

9.85

21-May-2009

12.1314

11.9494

21-May-2009

10

9.85

21-May-2009

12.2027

12.0197

21-May-2009

10.0294

12-Oct-2010

Dividend Option HDFC FMP 25M September 2010 Growth Option HDFC FMP 25M September 2010 Quaterly Dividend Option HDFC FMP 35D AUGUST 2010 (1) Dividend Option HDFC FMP 35D AUGUST 2010 (1) Growth Option HDFC FMP 35D AUGUST 2010 (2) Dividend Option HDFC FMP 35D AUGUST 2010 (2) Growth Option HDFC FMP 35D August 2010 (3) Dividend Option HDFC FMP 35D August 2010 (3) Growth Option HDFC FMP 35D September 2010 (1) Dividend Option HDFC FMP 35D September 2010 (1) Growth Option 10.0294 0 0 12-Oct-2010

10.0294

12-Oct-2010

09-Sep-2010

09-Sep-2010

07-Oct-2010

07-Oct-2010

10

11-Oct-2010

10.0727

11-Oct-2010

10.0601

12-Oct-2010

10.0601

12-Oct-2010

HDFC FMP 35D September 2010 (2) Dividend Option HDFC FMP 35D September 2010 (2) Growth Option HDFC FMP 367D April 2010 (1)Dividend Option HDFC FMP 367D April 2010 (1)Growth Option HDFC FMP 367D April 2010 (1)Quarterly Dividend Option HDFC FMP 367D APRIL 2010 (2) Dividend Option HDFC FMP 367D APRIL 2010 (2) Growth Option HDFC FMP 367D APRIL 2010 (2) Quarterly Dividend Option HDFC FMP 367D March 2009 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 367D March 2009 (1) RETAIL PLAN

10.01

12-Oct-2010

10.01

12-Oct-2010

10.2323

12-Oct-2010

10.2323

12-Oct-2010

10.0288

12-Oct-2010

10.1816

12-Oct-2010

10.1816

12-Oct-2010

10.029

12-Oct-2010

10

06-Apr-2010

10

06-Apr-2010

DIVIDEND OPTION HDFC FMP 367D March 2009 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 367D March 2009 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 367D March 2010 Growth Option HDFC FMP 367D March 2010 Dividend Quarterly Option HDFC FMP 367D March 2010Dividend Option HDFC FMP 36M April 2010Dividend Option HDFC FMP 36M April 2010- Growth Option HDFC FMP 36M April 2010Quarterly Dividend Option HDFC FMP 36M JUNE 2007 - RETAIL PLAN GROWTH OPTION 10 0 0 06-Apr-2010

10

06-Apr-2010

10.3274

12-Oct-2010

10.0295

12-Oct-2010

10.3274

12-Oct-2010

10.187

12-Oct-2010

10.187

12-Oct-2010

10.0164

12-Oct-2010

21-Jul-2010

HDFC FMP 36M JUNE 2007 - RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 36M JUNE 2007 - RETAIL PLAN QUATERLY DIVIDEND OPTION HDFC FMP 36M JUNE 2007 WHOLESALE PLAN GROWTH OPTION HDFC FMP 36M JUNE 2007 WHOLESALE PLAN QUATERLY DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 370D AUGUST 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (1) WHOLESALE PLAN GROWTH OPTION

21-Jul-2010

21-Jul-2010

21-Jul-2010

21-Jul-2010

25-Aug-2009

25-Aug-2009

25-Aug-2009

25-Aug-2009

HDFC FMP 370D AUGUST 2008 (1) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (1) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 370D AUGUST 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D AUGUST 2008 (3) RETAIL PLAN GROWTH OPTION HDFC FMP 370D AUGUST 2008 (3) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (3) RETAIL PLAN QUARTERLY

25-Aug-2009

10.0055

9.8054

22-Aug-2008

11.1236

10.9567

26-Aug-2009

10

9.85

26-Aug-2009

11.1236

10.9567

26-Aug-2009

11.0516

10.8858

14-Sep-2009

10

9.85

14-Sep-2009

10

9.85

14-Sep-2009

DIVIDEND OPTION HDFC FMP 370D AUGUST 2008 (3) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D August 2010 (1) Dividend Option HDFC FMP 370D August 2010 (1) Growth Option HDFC FMP 370D August 2010 (1) Quarterly Dividend Option HDFC FMP 370D December 2008 (1) - RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D December 2008 (1) - RETAIL PLAN DIVIDEND OPTION HDFC FMP 370D December 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 370D December 2008 (1) - WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 370D December 2008 (1) 11.1537 10.9864 0 14-Sep-2009

10.074

12-Oct-2010

10.074

12-Oct-2010

10.074

12-Oct-2010

16-Dec-2009

16-Dec-2009

16-Dec-2009

16-Dec-2009

16-Dec-2009

- WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D JULY 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 370D JULY 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JULY 2008 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JULY 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D JULY 2008 (1) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JULY 2008 (1) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JULY 2008 (2) RETAIL PLAN GROWTH OPTION 0 0 0 14-Jul-2009

14-Jul-2009

14-Jul-2009

14-Jul-2009

14-Jul-2009

14-Jul-2009

11.0534

10.8876

27-Jul-2009

HDFC FMP 370D JULY 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JULY 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JULY 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D JULY 2010 (1)Dividend Option HDFC FMP 370D JULY 2010 (1)Growth Option HDFC FMP 370D JULY 2010 (1)Quarterly Dividend Option HDFC FMP 370D JUNE 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 370D JUNE 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (1) -

10

9.85

27-Jul-2009

10

9.85

27-Jul-2009

11.1151

10.9484

27-Jul-2009

10.0935

12-Oct-2010

10.0935

12-Oct-2010

10.0309

12-Oct-2010

30-Jun-2009

30-Jun-2009

30-Jun-2009

RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D JUNE 2008 (1) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (1) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 370D JUNE 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D JUNE 2008 (2) WHOLESALE PLAN GROWTH OPTION 0 0 0 30-Jun-2009

30-Jun-2009

30-Jun-2009

11.0054

10.8403

02-Jul-2009

10

9.85

02-Jul-2009

10

9.85

02-Jul-2009

11.0479

10.8822

02-Jul-2009

HDFC FMP 370D JUNE 2008 (2) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D June 2010 (1) Dividend Option HDFC FMP 370D June 2010 (1) Growth Option HDFC FMP 370D June 2010 (1) Quarterly Dividend Option HDFC FMP 370D JUNE 2010 (2) Dividend Option HDFC FMP 370D JUNE 2010 (2) Growth Option HDFC FMP 370D JUNE 2010 (2) Quarterly Dividend Option HDFC FMP 370D MARCH 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 370D MARCH 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION

10

9.85

02-Jul-2009

10.1422

12-Oct-2010

10.1422

12-Oct-2010

10.0278

12-Oct-2010

10.1086

12-Oct-2010

10.1086

12-Oct-2010

10.034

12-Oct-2010

08-Apr-2009

08-Apr-2009

HDFC FMP 370D MARCH 2008 (1) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D MARCH 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 370D MARCH 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D MARCH 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D MARCH 2008 (2) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D MARCH 2008 (2) WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D MAY 2008 RETAIL PLAN - GROWTH OPTION HDFC FMP 370D MAY 2008 RETAIL PLAN - NORMAL DIVIDEND OPTION

08-Apr-2009

08-Apr-2009

08-Apr-2009

08-Apr-2009

08-Apr-2009

08-Apr-2009

0.0000

0.0000

26-May-2009

0.0000

0.0000

26-May-2009

HDFC FMP 370D MAY 2008 RETAIL PLAN - QUARTERLY DIVIDEND OPTION HDFC FMP 370D MAY 2008 WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D MAY 2008 WHOLESALE PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D MAY 2008 WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D MAY 2008 (2) RETAIL PLAN GROWTH OPTION HDFC FMP 370D MAY 2008 (2) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D MAY 2008 (2) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D MAY 2008 (2) WHOLESALE PLAN -

0.0000

0.0000

26-May-2009

0.0000

0.0000

26-May-2009

0.0000

0.0000

26-May-2009

0.0000

0.0000

26-May-2009

29-May-2009

29-May-2009

29-May-2009

29-May-2009

GROWTH OPTION HDFC FMP 370D MAY 2008 (3) RETAIL PLAN GROWTH OPTION HDFC FMP 370D MAY 2008 (3) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D MAY 2008 (3) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D MAY 2008 (3) WHOLESALE PLAN GROWTH OPTION HDFC FMP 370D MAY 2008 (3) WHOLESALE PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D November 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 370D November 2008 (1) - RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D November 2008 (1) 0 0 0 04-Jun-2009

04-Jun-2009

04-Jun-2009

04-Jun-2009

04-Jun-2009

10.9769

10.8122

11-Nov-2009

10

9.85

11-Nov-2009

10

9.85

11-Nov-2009

- RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D November 2008 (1) - WHOLESALE PLAN - GROWTH OPTION HDFC FMP 370D November 2008 (1) - WHOLESALE PLAN - NORMAL DIVIDEND OPTION HDFC FMP 370D November 2008 (1) - WHOLESALE PLAN - QUARTERLY DIVIDEND OPTION HDFC FMP 370D October 2008 (1) RETAIL PLAN GROWTH OPTION HDFC FMP 370D October 2008 (1) RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D October 2008 (1) RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D October 2008 (1) WHOLESALE PLAN GROWTH OPTION 11.0796 10.9134 0 11-Nov-2009

10

9.85

11-Nov-2009

10

9.85

11-Nov-2009

10.9636

10.7991

26-Oct-2009

10

9.85

26-Oct-2009

10

9.85

26-Oct-2009

11.0711

10.905

26-Oct-2009

HDFC FMP 370D SEPTEMBER 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 370D SEPTEMBER 2008 (1) - RETAIL PLAN NORMAL DIVIDEND OPTION HDFC FMP 370D SEPTEMBER 2008 (1) - RETAIL PLAN QUARTERLY DIVIDEND OPTION HDFC FMP 370D SEPTEMBER 2008 (1) - WHOLESALE PLAN - GROWTH OPTION HDFC FMP 370D SEPTEMBER 2008 (1) - WHOLESALE PLAN - QUARTERLY DIVIDEND OPTION HDFC FMP 370D September 2010 (1) - Dividend Option HDFC FMP 370D September 2010 (1) - Growth Option HDFC FMP 370D September 2010 (1) - Quaterly Dividend Option

11.0806

10.9144

29-Sep-2009

10

9.85

29-Sep-2009

10

9.85

29-Sep-2009

11.1882

11.0204

29-Sep-2009

10

9.85

29-Sep-2009

10.0263

12-Oct-2010

10.0263

12-Oct-2010

10.0263

12-Oct-2010

HDFC FMP 90D December 2008 (1) - RETAIL PLAN DIVIDEND OPTION HDFC FMP 90D December 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 90D December 2008 (1) - WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 90D June 2010 Dividend Option HDFC FMP 90D June 2010 -Growth Option HDFC FMP 90D MARCH 2008 RETAIL PLAN DIVIDEND OPTION HDFC FMP 90D MARCH 2008 RETAIL PLAN GROWTH OPTION HDFC FMP 90D MARCH 2008 WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 90D MARCH 2008 WHOLESALE PLAN GROWTH OPTION

12-Mar-2009

12-Mar-2009

12-Mar-2009

14-Sep-2010

14-Sep-2010

10

9.8

09-Jun-2008

10.2529

10.0478

09-Jun-2008

10

9.8

09-Jun-2008

10.2529

10.0478

09-Jun-2008

HDFC FMP 90D November 2008 (1) - RETAIL PLAN DIVIDEND OPTION HDFC FMP 90D November 2008 (1) - RETAIL PLAN GROWTH OPTION HDFC FMP 90D November 2008 (1) - WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 90D November 2008 (1) - WHOLESALE PLAN GROWTH OPTION HDFC FMP 90D November 2008 (4) - RETAIL PLAN DIVIDEND OPTION HDFC FMP 90D November 2008 (4) - RETAIL PLAN GROWTH OPTION HDFC FMP 90D November 2008 (4) - WHOLESALE PLAN DIVIDEND OPTION HDFC FMP 90D November 2008 (4) - WHOLESALE PLAN GROWTH OPTION HDFC QUARTERLY INTERVAL FUND PLAN A - RETAIL

10

9.925

09-Feb-2009

10.2467

10.1698

09-Feb-2009

10

9.925

09-Feb-2009

10.2493

10.1724

09-Feb-2009

10

9.925

02-Mar-2009

10.2094

10.1328

02-Mar-2009

10

9.925

02-Mar-2009

10.2119

10.1353

02-Mar-2009

13.1493

13.1362

12-Oct-2010

PLAN - Growth Option HDFC QUARTERLY INTERVAL FUND PLAN A - RETAIL PLAN -Dividend Option HDFC QUARTERLY INTERVAL FUND PLAN A WHOLESALE PLAN Dividend Option HDFC QUARTERLY INTERVAL FUND PLAN A WHOLESALE PLAN Growth Option HDFC QUARTERLY INTERVAL FUND PLAN B - RETAIL PLAN - Growth Option HDFC QUARTERLY INTERVAL FUND PLAN B - RETAIL PLAN -Dividend Option HDFC QUARTERLY INTERVAL FUND PLAN B WHOLESALE PLAN Dividend Option HDFC QUARTERLY INTERVAL FUND PLAN B WHOLESALE PLAN 10.0467 10.0367 0 12-Oct-2010

10.0417

10.0317

12-Oct-2010

10.345

10.3347

12-Oct-2010

12.9298

12.9169

12-Oct-2010

9.9988

9.9888

12-Oct-2010

10.0122

10.0022

12-Oct-2010

10.1564

10.1462

12-Oct-2010

Growth Option HDFC QUARTERLY INTERVAL FUND PLAN C - RETAIL PLAN - Dividend Option HDFC QUARTERLY INTERVAL FUND PLAN C - RETAIL PLAN -Growth Option HDFC QUARTERLY INTERVAL FUND PLAN C WHOLESALE PLAN Growth Option HDFC QUARTERLY INTERVAL FUND PLAN C WHOLESALE PLAN Dividend Option 10.1149 10.1048 0 12-Oct-2010

12.8613

12.8484

12-Oct-2010

10.1149

10.1048

12-Oct-2010

10.1149

10.1048

12-Oct-2010

Close Ended Schemes (Growth)

HDFC LONG TERM

14.513

12-Oct-2010

EQUITY FUNDDividend HDFC LONG TERM EQUITY FUNDGrowth HDFC INFRASTRUCTURE FUND-DIVIDEND OPTION HDFC INFRASTRUCTURE FUND-GROWTH OPTION 17.542 0 0 12-Oct-2010

13.713

12-Oct-2010

13.713

12-Oct-2010

Research Methodology
Objectives of the study
This project undertaken is a market survey pertaining to mind set if investors to know what they feel after investing in mutual funds.

To get the overview of the mutual fund industry.

The objective is to know what the investors experience after investing in mutual funds.

To know where different companies stand in the eyes of the investors on the basis of ranking these companies.

To know why investors invest in mutual funds. To know how investors rank various investment options. To know the scope of mutual fund industry in the near future.

Research plan Definition


Marketing research is a systematic and objective study of problems retaining to the marketing of goods and services. Market research helps design the method for collecting information; manage and implement the data collection process; analyze the results; and communicate the findings and their implications.

Research Design
Research design is an arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. The research problem has been formulated in clear-cut terms, which helps the researcher to prepare a research design. The preparation of such a design facilitates in conducting research in an efficient manner. The function of research design is the collection of relevant evidence with minimal expenditure of efforts, time and money. Research design used in this study is descriptive and causal as it determines characteristics of mutual funds and establishes cause and effect relationship between mutual fund characteristics and investors perception towards it.

Research method: Survey method


In undertaking this research areas have been surveyed i.e. .Individuals who have made investments in mutual funds have been surveyed to get the relevant information.

Data collection Type of data collected

Primary data has been collected through questionnaires. Secondary data has been collected through magazines, newspapers and Internet

sources.

Procedure of data collected: Structured Questionnaires.

Mode of data collected: Personal Interviews.

Description of the instrument used: The instrument used is the questionnaire. A questionnaire is a formalized set of questions for obtaining information from respondents. It is one of the ways of obtaining quantitative primary data in descriptive research.

CONCLUSION
1. Growing Industry: The Indian mutual fund industry is beginning to blossom and with the recent relaxations it is evident that the industry will rise to the international standard. India as a country holds great potential, and the rise in income and savings levels signify the tremendous growth opportunity that lies ahead. The very presence of most significant international player in India demonstrates that they cannot afford to ignore the Indian market if they want to maintain their positions internationally. 2. Satisfied Customers: The purpose of the study was to know the post purchase feelings of mutual fund investors. After analyzing we come to the conclusion that most of the investors are satisfied after investing in mutual funds. They agree to the fact that their money has increased after investing in mutual funds. Many are willing to invest more money in mutual funds because they believe that mutual funds give them high returns than any other source of investment because where they all group levels are invest according his ability and financial position. Most of the investors invest in mutual funds because it is a source of tax savings.

3. Most of the investors invest more in up to 40 years and purchase that fund where they gain high returns and take more risk and invest in equity schemes. And 40 to above 50 years want to be a secure and invest in balanced schemes as well as debt schemes. 4. Most of the investors Strongly agreed for invest the money at the level of 2 Lakh to Above 5 Lakh Income. So they can save their tax and having other benefits. 5. Innovative Schemes: Schemes like Systematic investment plan (SIP) provide opportunity to those investors also, who cannot invest in lump sum amount. 6. Requires cautious Decision-Making: But as coin has two sides, in the same way mutual funds also have benefits and drawbacks. The investors should always read the offer document before investing in mutual funds. They should invest in the scheme, which suits best to their requirements.

SUGGESTIONS & RECOMMENDATIONS

1. The agents and others promoting the mutual funds should be provided adequate training at the time of selection as well as refresher training. 2. The companies should provide extra incentives to those who show excellent performance, to motivate them to work harder. 3. All kinds of expenses incurred to encourage sales, such as commuting expenses, telephone expenses, stationary etc., should be provided for by the companies well in time to the people promoting the mutual funds. 4. The companies should expand their functioning to small cities or towns. 5. There should be adequate efforts to advertise their mutual fund schemes by proper media, so that more and more people are made aware of mutual fund providing companies and their schemes.

LIMITATIONS OF THE STUDY


1.
Limited Time: The foremost limitation was the time. Time was not in-depth study of the given topic. sufficient for an

2.

Limited Scope: The scope of the study was limited area only because of limited time and financial resources. So results of the study may not be generalized to India as a whole.

3.

Biasness: Biasness on the part of respondents cannot be ignored.

BIBLOGRAPHY

BOOKS

Financial services Financial institutions and markets

WEBSITES

Finance.indiamart.com www.google.co.in www.Amfiindia.com www.yahoo.com

QUESTIONNAIRE

I am Vishab Sharma doing MBA from BMSCE. As a part of my research project I am doing a research on Post-Purchase Experience of Mutual Fund Investors. Please help me while filling up this questionnaire and providing me the required information. The information provided by you will be kept confidential and would be used only for the academic purpose.

1. Rank the following asset management companies on the basis of your preference for investment. (1 - most preferred to 10 - least preferred). (Please do rank all the options)

Birla Sun Life Mutual Funds

mutual funds

1. Why do you invest in mutual funds? (You can tick more than one option)

2. Are you satisfied after investing in mutual funds?

3. Has your money increased after investing in mutual funds?

5. Read the following statements and tick the option you find appropriate. SD- strongly disagree strongly agree D-disagree CS- cant say A- agree SA-

Age group

SD

CS

A SA

a Between 20 to 30 years age group money . invested in :a)Equity b) Debt c) Balanced

b Between 30 to 40 years age group money invested . in :a)Equity b) Debt c) Balanced

c Between 40 to 50 years age group money invested . in :a)Equity b) Debt c) Balanced

d More than 50 years age group money invested in :. a)Equity b) Debt c) Balanced

6. Read the following statements and tick the option you find appropriate. SD- strongly disagree strongly agree D-disagree CS- cant say A- agree SA-

Annual Income

Investment Decisions A

DA

S.DA

Cant say

S.A

50000 to 1 lakh

1 lakh to 2 lakh

Y Y

2 Lakh to 5 Lakh
More Than 5 Lakh