Project 1

PROJEC
T ON:
ANALYSI
S OF
THE
PERFOR
MANCE
OF THE
MUTUA
L FUNDS
1|Page
INDEX
Sir TITLE Page
No. No.
Chapter 1:- General Information
1 INTRODUCTION 6-10
1.1 What is Mutual Fund? 6
1.2 Background & History of Mutual Fund Industry 6-9
1.3 Association of Mutual Fund India 9-10
1.4 Mutual Fund- A Globally Proven Investment 10
2 MAJOR COMPANIES IN MUTUAL FUND 11-13

2.1 Classification of Mutual Fund Industry 11
2.2 Major Mutual Fund Companies 12-13
3 MUTUAL FUND SCHEMES 14

3.1 Types of Mutual Fund Schemes in India 14
Chapter 2:- Survey/Analysis

1 INTRODUCTION OF THE STUDY 16-17
1.1 Object of Study 16
1.2 Instruments used in the Analysis Process 16-17
1.3 Research Design 17
2 SURVEY/ANALYSIS 18-45
2.1 EQUITY SCHEMES 19-29
a) Large Cap Fund 19-20
b) Mid Cap Fund 21-22
2|Page
c) Small Cap Fund 23-24
d) Multi Cap Fund 25-26
e) Banking and Financial Services 27-28
Equity Performance 29
2.2 DEBT SCHEMES 30-40
a) Liquid Fund 30-31
b) Credit Risk Fund 32-33
c) Dynamic Bond Fund 34-35
d) Income/Bond Fund 36-37
e) Guilt Fund 38-39
Debt Performance 40
2.3 HYBRID FUND 41-45
a) Hybrid Equity Fund 41-42
b) Multi Asset Allocation Fund 43-44
Hybrid Performance 45
3 GROWTH ANALYSIS 46-49

3.1 Growth in AUM 46-47
3.2 Advantages of Mutual Fund 47-48
3.3 Disadvantages of Mutual Fund 49
4 LIMITATION OF STUDY 50
5 Conclusion 51
6 Bibliography 52
3|Page
CHAPTER 1:- GENERAL
INFORMATION
4|Page
1) INTRODUCTION
WHAT ARE MUTUAL FUNDS?
A mutual fund is a pool of money managed by a professional
Fund Manager. It is a trust that collects money from a number
of investors who share a common investment objective and
invests the same in equities, bonds, money market instruments
and/or other
securities. And
the income /
gains generated
from this
collective
investment is
distributed
proportionately
amongst the
investors after
deducting
applicable expenses and levies, by calculating a scheme’s
“Net Asset Value” or NAV. Simply put, the money pooled in
by a large number of investors is what makes up a Mutual
Fund.
BACKGROUND AND HISTORY OF MUTUAL FUND
INDUSTRY
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:-
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First Phase
(1964-1987):-
The Mutual Fund
industry in India
started in 1963
with formation of
UTI in 1963 by
an Act of
Parliament and
functioned under
the Regulatory
and
administrative
control of the
Reserve Bank of
India (RBI). 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. Unit
Scheme 1964 (US ’64) was the first scheme launched by UTI.
At the end of 1988, UTI had ₹ 6,700 crores of Assets under
Management (AUM).
Second Phase (1987-1993) Entry of Public Sector Mutual
Funds:-
The year 1987 marked the entry of public sector mutual funds
set up by Public Sector banks and Life Insurance Corporation
of India (LIC) and General Insurance Corporation of India
(GIC). SBI Mutual Fund was the first ‘non-UTI’ mutual fund
established in June 1987, followed by Canbank Mutual Fund
(Dec. 1987), Punjab National Bank Mutual Fund (Aug. 1989),
Indian Bank Mutual Fund (Nov 1989), Bank of India (Jun
1990), Bank of Baroda Mutual Fund (Oct. 1992). LIC
established its mutual fund in June 1989, while GIC had set
6|Page
up its mutual fund in December 1990. At the end of 1993, the
MF industry had assets under management of ₹47,004 crores.
Third Phase (1993-2000) Entry of Private Sector Mutual
Funds:-
The Indian securities market gained greater importance with
the establishment of SEBI in April 1992 to protect the
interests of the investors in securities market and to promote
the development of, and to regulate, the securities market.In
the year 1993, the first set of SEBI Mutual Fund Regulations
came into being for all mutual funds, except UTI. The
erstwhile Kothari Pioneer (now merged with Franklin
Templeton MF) was the first private sector MF registered in
July 1993. With the entry of private sector funds in 1993, a
new era began in the Indian MF industry, giving the Indian
investors a wider choice of MF products. The initial SEBI MF
Regulations were revised and replaced in 1996 with a
comprehensive set of regulations, viz., SEBI (Mutual Fund)
Regulations, 1996 which is currently applicable.The number
of MFs increased over the years, with many foreign sponsors
setting up mutual funds in India. Also the MF industry
witnessed several mergers and acquisitions during this phase.
As at the end of January 2003, there were 33 MFs with total
AUM of ₹1,21,805 crores, out of which UTI alone had AUM
of ₹44,541 crores.
Fourth Phase (Since February 2003-April 2014):-
In February 2003, following the repeal of the Unit Trust of
India Act 1963, UTI was bifurcated into two separate entities,
viz., the Specified Undertaking of the Unit Trust of India
(SUUTI) and UTI Mutual Fund which functions under the
SEBI MF Regulations. With the bifurcation of the erstwhile
UTI and several mergers taking place among different private
sector funds, the MF industry entered its fourth phase of
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consolidation.Following the global melt-down in the year
2009, securities markets all over the world had tanked and so
was the case in India. Most investors who had entered the
capital market during the peak, had lost money and their faith
in MF products was shaken greatly. The abolition of Entry
Load by SEBI, coupled with the after-effects of the global
financial crisis, deepened the adverse impact on the Indian
MF Industry, which struggled to recover and remodel itself
for over two years, in an attempt to maintain its economic
viability which is evident from the sluggish growth in MF
Industry AUM between 2010 to 2013.
Fifth Phase (Since May 2014)- Current Phase:-
Taking cognisance of the lack of penetration of MFs,
especially in tier II and tier III cities, and the need for greater
alignment of the interest of various stakeholders, SEBI
introduced several progressive measures in September 2012 to
"re-energize" the Indian Mutual Fund industry and increase
MFs’ penetration. In due course, the measures did succeed in
reversing the negative trend that had set in after the global
melt-down and improved significantly after the new
Government was formed at the Center.Since May 2014, the
Industry has witnessed steady inflows and increase in the
AUM as well as the number of investor folios (accounts).
ASSOCIATION OF MUTUAL FUNDS INDIA
8|Page
AMFI, the association of SEBI registered mutual funds in
India of all the registered Asset Management Companies, was
incorporated on August 22, 1995, as anon-profit organisation.
As of now, all the 44 Asset Management Companies that are
registered with SEBI are its members. The Association of
Mutual Funds in India (AMFI) is dedicated to developing the
Indian Mutual Fund Industry on professional, healthy and
ethical lines and to enhance and maintain standards in all
areas with a view to protecting and promoting the interests of
mutual funds and their unit holders.
MUTUAL FUND- A GLOBALLY PROVEN

INVESTMENT
Worldwide Mutual Fund has a large and successful history.
The popularity of mutual fund has increased manifold. In
developed financial markets, like the United States, Mutual
Funds has almost overtaken bank deposits and total assets of
insurance funds.
2) MAJOR COMPANIES IN
MUTUAL FUNDS
9|Page
CLASSIFICATION OF INDIAN MUTUAL FUNDS
INDUSTRY
Indian Mutual Fund Industry is broadly classified into
Three categories:-
1) Unit Trust of India-UTI Mutual Fund was carved out
of the erstwhile Unit Trust of India as a SEBI
registered mutual fund from 1
February 2003. The Unit Trust
of India Act 1963 was repealed,
paving way for the bifurcation
of UTI into – Specified Undertaking of Unit Trust of
India; and UTI
Mutual Fund.
2) Public Sector-
These funds are
sponsored by the
companies of the
public sector. Such
as, SBI Mutual
Fund, LIC Mutual Fund, Can bank Mutual Fund, etc.
3) Private Sector-These funds are sponsored by the
companies of the private sector. Some of the well-
known private mutual funds are ICICI Mutual Fund,
HDFC Mutual Fund, DSP Merrill Lynch Mutual Fund,
Reliance Mutual Fund, etc.
MAJOR MUTUAL FUND COMPANIES

UTI Mutual Fund- UTI Mutual Fund was carved out of the
erstwhile Unit Trust of India (UTI) as a SEBI registered
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mutual fund from 1 February 2003. The Unit Trust of India
Act 1963 was repealed, paving way for the
bifurcation of UTI into – Specified
Undertaking of Unit Trust of India
(SUUTI); and UTI Mutual Fund (UTIMF). UTI Mutual Fund
is promoted by the four of the largest Public Sector Financial
Institutions as sponsors, viz., State Bank of India, Life
Insurance Corporation of India, Bank of Baroda and Punjab
National Bank with each of them holding an 18.24% stake in
the paid up capital of UTI AMC. UTI Mutual Fund is the
oldest and one of the largest mutual funds in India with over
10 million investor accounts under its 230 domestic schemes /
plans as on September 30, 2017. Its AUM is Rs. 159,694 crore
(Mar-31-2019).
Aditya Birla Sun Life Mutual Fund- Aditya Birla Sun Life
Asset Management Company Ltd. (ABSLAMC) formerly
known as Birla Sun Life Asset Management Company
Limited is an investment managing company registered under
the Securities and Exchange Board of India. It is a joint
venture between the Aditya Birla Group of India and the Sun
Life Financial Inc. of Canada. The company offers sector
specific equity schemes, fund of fund schemes, hybrid and
monthly income funds, debt and treasury products and
offshore funds. Its AUM is
Rs.246,480 crore (Mar-31-2019).
HDFC Mutual Fund- HDFC
Mutual Fund was set up on June 30,
2000 with two sponsor namely
Housing Development Financial
Corporation Limited and Standard
Life Investments Limited. HDFC
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MF’s Asset Under Management is Rs. 342290.58 crore (Mar-
31-2019).
ICICI Prudential Mutual Fund-The AMC is a joint venture
between ICICI Bank in India and Prudential Plc, one of UK’s
largest players in the financial services sectors. Its AUM is
Rs. 320,793 crore (Mar-31-2019).
SBI Mutual Fund- It was founded in the year 1987. SBI
Mutual Fund is a bank sponsored fund
house with its corporate headquarters in
Mumbai, India. It is a joint venture
between the State Bank of India, an Indian multinational,
Public Sector banking and financial services company and
Amundi, a European asset management company. Its AUM is
Rs. 283,807 Crore (Mar-31-2019).
Reliance Mutual Fund- Reliance Nippon Life
Asset Management (RNAM; formerly
Reliance Capital Asset Management Limited)
is one of the largest asset manager in India, manages and
advises Rs. 233,617 crore as per March 2019, across mutual
funds, pension funds, managed accounts, alternative
investments and offshore funds.
3) MUTUAL FUND SCHEMES

TYPES OF MUTUAL FUND SCHEMES
Mutual Funds Schemes can be broadly classified into three
categories as per their Asset Allocation. They are:-
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a) Equity Scheme- Predominantly invests in share of listed
companies in BSE/NSE. The returns or losses are
determined by how these shares perform (price-hikes or
price-drops) in the stock market. As equity funds come
with a quick growth, the risk of losing money is
comparatively higher. However, historically, stocks have
performed better over the long term than other types of
investments. For e.g. Large Cap Fund, Mid Cap Fund,
Small Cap Fund, Sector Specific Fund.
b) Debt Scheme- Predominantly invests in debt securities
issued by Government of India and other Corporates of
India. Debt funds invest in fixed-income securities like
bonds, securities and treasury bills – Fixed Maturity
Plans (FMPs), Gilt Fund, Liquid Funds, Short Term
Plans, Long Term Bonds and Monthly Income Plans
among others – with fixed maturity date.
c) Hybrid Funds- It is a mix of Equity and Debt assets. In
India we find many Hybrid funds with different mix of
assets, e.g. Equity Hybrid Funds where percentage of
Equity Assets is more than 65%. Other Debt funds where
the percentage of Debt is more than 65% are known as
Debt Oriented Hybrid Funds.
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CHAPTER 2:-
SURVEY/ANALYSIS OF THE
PERFORMANCE OF
MUTUAL FUND
1) INTRODUCTION OF THE
STUDY/ANALYSIS
OBJECT OF STUDY
The primary object of this project is to analyse the
performance of the Mutual Fund Industry in India in a given
time period. The detailed objects of this project are:-
 To know types of Mutual Funds in detail.
 To know which schemes give highest return in short term
or long term period.
 To compare the performance of the Mutual Fund
Schemes.
 To know both- the performance and the technical point
of each schemes.
INSTRUMENTS USED IN THE ANALYSIS PROCESS
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1. TECHNICAL INSTRUMENTS
a. Standard Deviation- This is a measure of the
volatility in a fund’s returns and, therefore, indicates
the risk in a fund’s portfolio. Lower the deviation,
the better it is. However, one needs to compare it
only within categories. The range can be below 1%
for liquid funds and 20%-40% for equity funds.
b. Beta- It measures the fund’s performance compared
to the market. A beta value of one means the fund’s
NAV moves with the market. Less than one means
the fund is less volatile than the market, and above
one indicates it is more volatile than the market.
c. Portfolio Turnover Ratio- This ratio captures how
frequently a scheme trades (buys or sells) in its
portfolio. While it will be low for passively
managed schemes, it can go up to 500% for actively
managed equity schemes. This ratio needs to be
compared within category. Active investors can opt
for schemes with a high turnover ratio, while
passive, long-term buy and hold investors can go for
low turnover ratio schemes.
d. Expense Ratio- This ratio represents the annual
expense the fund will charge the investor. It ranges
between 0.1% (for fixed maturity plans) to 3.25%
(for small-sized equity funds). The lower the
expense ratio, the better it is for the investor. Since
most debt funds generate similar gross returns,
expense ratio becomes more important for debt
funds. Direct plans have lower expense ratios.
2. COMPARITOR INSTRUMENT
a. Peer Group Comparator
b. Benchmark Comparator
c. Category Average
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RESEARCH DESIGN
For this Research activity:
 We have selected SIX Mutual Funds from Indian
Market. They are UTI, ABSL, HDFC, ICICI, SBI,
Reliance.
 The funds are categorised under Equity, Debt and
Hybrid.
 Funds selected are mostly preferable by investors.
 Data has been collected from money control, value
research online, AMFI and mutual fund India websites.
2) Survey/ Analysis
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Analysis Of
Performance of
Mutual Fund Schemes
Equity Schemes Debt Schemes Hybrid Schemes
Large Cap Funds Liquid Fund Hybrid Equity Fund
Multi Asset Allocation

Mid Cap Funds Credit Risk Fund
Fund
Small Cap Funds Dynamic Bond Fund
Multi Cap Fund Income Fund
Banking and Financial

Guilt Fund
Services
EQUITY SCHEMES
LARGE CAP FUND- These mutual funds select stocks for investment from the
largest 100 stocks listed in the Indian markets (highest market capitalization). Larger
stocks are expected to be less risky whereas smaller stocks may have higher potential to
grow .
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Suitable For : Investors who are looking to invest money for at least 3-4 years and
looking for high returns. At the same time, these investors should also be ready for
possibility of moderate losses in their investments.
Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Scheme AUM(Rs.) Returns
Name Crore 1 Year 2 Year 3Year 5Year 10Year
UTI Mastershare Unit 6,003.38 7.05% 9.85% 13.17% 11.61% 12.71%
Scheme – Growth
ABSL Frontline Equity Fund22,023.44
– 7.41% 8.46% 13.15% 11.63% 14.29%
Regular Plan - Growth
HDFC Top 100 Fund – 16,704.61 16.52% 11.74% 18.21% 10.96% 14.35%
Growth
ICICI Prudential Bluechip 21,846.44 8.79% 10.92% 15.59% 12.18% 15.34%
Fund - Growth
SBI Blue Chip Fund – 22,216.66 7.53% 9.38% 12.49% 13.93% 13.76%
Growth
Reliance Large Cap Fund – 12,771.59 15.78% 13.59% 18.72% 14.26% 14.51%
Growth
Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

Scheme No. of Beta Standard Portfolio Expense
Name Investors Deviation Turnover Ratio Ratio
UTI Mastershare Unit 5,86,781 0.90 10.92% 13.00% 2.21%
Scheme – Growth
ABSL Frontline Equity FundNA– 0.94 12.24% 48.00% 2.00%
HDFC Top 100 Fund – NA 1.03 13.77% 17.75% 1.85%
Growth
ICICI Prudential Bluechip NA 0.85 11.1% 153.00% 1.85%
Fund - Growth
SBI Blue Chip Fund – NA 0.94 12.3% 73.00% 1.69%
Growth
Reliance Large Cap Fund –NA 0.97 13.05% NA 1.94%
Growth
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Large Cap Funds Return Percentages
20.00%
18.00%
16.00%
14.00%
Percentage of Return
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
UTI ABSL HDFC ICICI SBI Reliance
Fund Houses
1 Years 2 Years 3 Years 5 Years 10 Years
The Chart shows the returns of the SIX Mutual Fund

Companies in FIVE different time periods (i.e. 1 year, 2 year,
3 year, 5 year and 10 year). However, the trend does not
indicate that if a person invests for 3 years he is going to get
the maximum returns. Nevertheless the returns are also
analysed by Beta and SD, they show whether the Fund
Houses are going to give the same return in the following
years also. Lesser the value of Beta and SD the better it is.
The bellow table shows the rank of the companies according
to Beta and Standard Deviation. Here the fund with the lowest
Beta or SD has been given the 1st Rank and so on.
Beta Fund Houses Rank SD Fund Houses Rank
0.85 ICICI 1 10.92 UTI 1
%
0.90 UTI 2 11.1% ICICI 2
0.94 ABSL 3 12.24 ABSL 3
%
0.94 SBI 3 12.30 SBI 4
%
0.97 Reliance 4 13.05 Reliance 5
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%
1.03 HDFC 5 13.77 HDFC 6
%
MID CAP FUND- These mutual funds select stocks for investment from the mid
cap category – stocks ranked between 100 to 250 by size (market capitalization).Larger
stocks are expected to be less risky whereas smaller stocks may have higher potential to
grow.
Suitable For: Investors who are looking to invest money for at least 3-4 years and
looking for high returns. At the same time, these investors should also be ready for
possibility of moderate losses in their investments.

UTI Mid Cap Fund - Growth3,690.56 -6.62% 2.41% 8.44% 13.75% 18.43%
ABSL Midcap Fund – Regular
2,343.31 -5.72% 0.87% 10.46% 13.68% 15.10%
Plan - Growth
HDFC Mid-Cap Opportunities Fund -
22,243.59 -2.76% 4.74% 13.55% 15.31% 20.62%
Growth
ICICI Prudential MidCap 1,683.32 -2.64% 6.02% 14.06% 14.11% 17.04%
Fund - Growth
SBI Magnum Midcap Fund –3,636.70 -4.65% 0.06% 6.02% 13.60% 15.73%
Growth
Reliance Growth Fund – 6,661.75 4.00% 8.20% 14.23% 12.70% 13.69%
Growth

UTI Mid Cap Fund - Growth3,85,503 0.96 14.47% 29.00% 2.29%
ABSL Midcap Fund – Regular
NA 0.86 16.16% 68.00% 2.38%
Plan - Growth
HDFC Mid-Cap Opportunities
NAFund - 0.87 16.2% 4.50% 1.88%
Growth
ICICI Prudential MidCap NA 0.79 14.44% 133.00% 2.35%
Fund - Growth
SBI Magnum Midcap Fund –NA 0.81 15.37% 21.00% 1.98%
Growth
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Reliance Growth Fund – NA 1.08 15.51% 147.00% 2.05%
Growth
Mid Cap Funds Return Percentages

25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
-5.00%
-10.00%
Fund Houses

3 year, 5 year and 10 year). Mid Cap investor must be an
opportunist i.e. as soon as he gets a profitable return after
calculating tax, he must book his return. However, it is
advisable for the investor to invest for a long period of time.
The returns are also analysed by Beta and SD. Lesser the
value of Beta and SD the better it is. The bellow table shows
the rank of the companies according to Beta and Standard
Deviation. Here the fund with the lowest Beta or SD has been
given the 1st Rank and so on.
0.79 ICICI 1 14.44 ICICI 1
%
0.81 SBI 2 14.47 UTI 2
%
0.86 ABSL 3 15.37 SBI 3
%
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0.87 HDFC 4 15.51 Reliance 4
%
0.96 UTI 5 16.16 ABSL 5
%
1.08 Reliance 6 16.20 HDFC 6
%
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SMALL CAP FUND- These mutual funds select stocks for investment from the
small cap category, which includes all stocks except largest 250 stocks (by market
capitalization).
looking for very high returns. At the same time, these investors should also be ready for
possibility of higher losses in their investments.

ABSL Small cap Fund – 2,374.32 -12.92% -0.97% 11.10% 14.35% 16.95%
HDFC Small Cap Fund – 7,660.38 -4.26% 11.42% 18.56% 16.51% 17.00%
Growth
ICICI Prudential Smallcap 255.48 -1.74% 1.29% 11.09% 10.16% 13.23%
Fund - Retail - Growth
Reliance Small Cap Fund – 8,050.12 -7.14% 7.01% 16.82% 19.43% NA
Growth

ABSL Small cap Fund – NA 0.97 18.99% 38.00% 2.34%
HDFC Small Cap Fund – NA 0.99 15.57% 4.16% 2.02%
Growth
ICICI Prudential Smallcap NA 1.21 18.43% 89.00% 2.75%
Fund - Retail - Growth
Reliance Small Cap Fund – NA 1.12 18.14% 140.00% 2.16%
Growth
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Small Cap Funds Return Percentages
20.00%
15.00%
10.00%
5.00%
0.00%
ABSL HDFC ICICI Reliance
-5.00%
-10.00%
-15.00%
Fund Houses
The Chart shows the returns of the FOUR Mutual Fund

3 year, 5 year and 10 year). The small cap funds give good
noticeable returns only if invested for a long time period i.e. 3,
5 or 10 years. However the returns may vary and the volatility
of the funds can be analysed by Beta and SD. Lesser the value
of Beta and SD the better it is. The bellow table shows the
rank of the companies according to Beta and Standard
Deviation. Here the fund with the lowest Beta or SD has been
given the 1st Rank and so on.
0.97 ABSL 1 15.57 HDFC 1
%
0.99 HDFC 2 18.14 Reliance 2
%
1.12 Reliance 3 18.43 ICICI 3
%
1.21 ICICI 4 18.99 ABSL 4
%
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MULTI CAP FUND- These mutual funds primarily invest in stocks selected
from all the listed stocks in the Indian market (NSE/BSE).
looking for high returns. At the same time, these investors should also be ready
for possibility of moderate losses in their investments.

UTI Equity Fund - Growth 9,357.89 4.80% 11.41% 12.96% 11.94% 15.15%
Aditya Birla Sun Life Equity 11,102.08 5.65% 8.38% 15.71% 13.82% 14.74%
Fund - Regular Plan - Growth
HDFC Equity Fund - Growth22,376.35 14.39% 11.54% 18.48% 11.32% 15.58%
ICICI Prudential Multicap 3,632.03 11.23% 9.85% 14.75% 13.14% 14.76%
Fund - Growth
SBI Magnum MultiCap Fund7,228.25 6.75% 10.66% 14.99% 16.12% 13.86%
- Growth
Reliance Multicap Fund – 10,334.26 12.34% 12.09% 15.43% 12.34% 18.00%
Growth

UTI Equity Fund - Growth 12,03,994 0.89 11.31% 8.00% 2.11%
Aditya Birla Sun Life Equity NA 0.97 13.31% 38.00% 2.08%
Fund - Regular Plan - Growth
HDFC Equity Fund - GrowthNA 1.08 14.9% 17.46% 1.79%
ICICI Prudential Multicap NA 0.84 12.2% 167.00% 2.16%
Fund - Growth
SBI Magnum MultiCap FundNA 0.94 12.67% 61.00% 1.84%
- Growth
Reliance Multicap Fund – NA 0.97 14.11% 77.00% 2.04%
Growth
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Multi Cap Funds Return Percentages
20.00%
18.00%
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
Fund Houses

3 year, 5 year and 10 year). Every fund houses has given a
good amount of return in the longer time period than the
shorter time. However the returns may be volatile. This
volatility of the funds can be analysed by Beta and SD, lesser
the value of Beta and SD the better it is. The bellow table
shows the rank of the companies according to Beta and
Standard Deviation. Here the fund with the lowest Beta or SD
has been given the 1st Rank and so on.
0.84 ICICI 1 11.31 UTI 1
%
0.89 UTI 2 12.2% ICICI 2
0.94 SBI 3 12.67 SBI 3
%
0.97 ABSL 4 13.31 ABSL 4
%
%
1.08 HDFC 5 14.90 HDFC 6
%
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SECTORIAL FUND (Banking and Finance) - These mutual funds
invest in stocks selected from single sector (here Banking and Financial Service
sector) or fits in specific theme.
Suitable For: Investors who have advanced knowledge of macro trends and prefer
to take selective bets for higher returns compared to other Equity funds. At the
same time, these investors should also be ready for possibility of moderate to high
losses in their investments even though overall market is performing better.

UTI Banking and Financial 660.22 9.29% 10.14% 18.46% 12.84% 14.99%
Services Fund - Growth
ABSL Banking and Financial 1,740.87 10.58% 13.40% 21.03% 17.16% NA
ICICI Prudential Banking and 3,068.44 16.40% 13.28% 25.08% 18.05% 20.05%
Financial Services Fund - Growth
SBI Banking & Financial Services Fund -
775.60 21.39% 20.00% 25.21% NA NA
Growth
Reliance Banking Fund – 2,991.35 14.22% 13.36% 22.56% 15.05% 17.70%
Growth

UTI Banking and Financial 63,556 0.95 15.44% 56.00% 2.73%
ABSL Banking and Financial NA 1.48 21.28% 50.00% 2.15%
ICICI Prudential Banking and NA 1.3 19.04% 129.00% 2.16%
Financial Services Fund - Growth
SBI Banking & Financial NA 1.01 17.51% 205.00% 2.49%
Reliance Banking Fund – NA 1.24 18.04% 125.00% 2.2%
Growth
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Banking and Finance Funds Return Percentages
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
UTI ABSL ICICI SBI Reliance
Fund Houses
The Chart shows the returns of the FIVE Mutual Fund

3 year, 5 year and 10 year). Although this is a high risk fund,
it gives high returns in the long run. However the returns may
be volatile. This volatility of the funds can be analysed by
Beta and SD, lesser the value of Beta and SD the better it is.
The bellow table shows the rank of the companies according
to Beta and Standard Deviation. Here the fund with the lowest
Beta or SD has been given the 1st Rank and so on.
0.95 UTI 1 15.44 UTI 1
%
1.01 SBI 2 17.51 SBI 2
%
%
1.3 ICICI 4 19.04 ICICI 4
%
1.48 ABSL 5 21.28 ABSL 5
%
28 | P a g e
EQUITY PERFORMANCE
Equity Performance
18.00%
15.72% 15.92%
16.00%
14.06%
14.00%
12.00%
Average Returns
10.00%
8.75%
8.00%
6.00%
4.90%
4.00%
2.00%
0.00%
1 Year 2 Years 3 Years 5 Years 10 Years
Years of Investment
Series 1 Linear (Series 1)
This graph has been obtained by calculating the average of each

year of their respective Equity Fund Categories and then again
calculating the average of average that we have calculated earlier
of each Funds.
Thus, Equity mutual funds are considered riskier than other types
of mutual funds because the majority of the corpus is invested in
equities that could rise or fall with little to no prior warning. While
the risk is certainly higher, so is the potential reward (profits). A
well-researched and well-managed equity scheme is the ideal
investment - as it implies that those that understand the working of
the market are undertaking calculated risks. Generally, Equity
Funds give larger profits if invested for long run.
29 | P a g e
DEBT SCHEMES
LIQUID FUND- These mutual funds invest in bonds and money market instruments
with maturity no longer than 91 days .
Suitable For : Investors who want to invest for very short term and are looking for
alternative to bank accounts/deposits.

UTI Liquid Cash Plan – 36,730.88 7.58% 7.20% 7.14% 7.67% 7.77%
ABSL Liquid Fund - Regular53,023.28 7.54% 7.18% 7.13% 7.70% 7.85%
Plan - Growth
HDFC Liquid Fund - Growth69,744.76 7.41% 7.02% 6.99% 7.59% 7.71%
ICICI Prudential Liquid Fund –
57,391.97 7.51% 7.15% 7.11% 7.67% 7.82%
Growth
SBI Liquid Fund - Growth 47,156.14 7.43% 7.07% 7.02% 7.60% 7.72%
Reliance Liquid Fund – 34,421.69 7.60% 7.21% 7.15% 7.69% 7.80%
Growth

Scheme No. of Beta Standard Expense
Name Investors Deviation Ratio
UTI Liquid Cash Plan – 18,197 0.28 0.16% 0.18%
ABSL Liquid Fund - Regular NA 0.30 0.16% 0.26%
Plan - Growth
HDFC Liquid Fund - Growth NA 0.48 0.12% 0.25%
ICICI Prudential Liquid Fund – NA 0.34 0.17% 0.22%
Growth
SBI Liquid Fund - Growth NA 0.15 0.28% 0.25%
Reliance Liquid Fund – NA 0.32 0.16% 0.23%
Growth
30 | P a g e
Liquid Fund Return Percentages
8.00%
7.80%
7.60%
7.40%
7.20%
7.00%
6.80%
6.60%
6.40%
Fund Houses

3 year, 5 year and 10 year). The rates are lesser than the
Equity Funds but these funds are less risky. However, the
returns may be volatile. This volatility of the funds can be
analysed by Beta and SD, lesser the value of Beta and SD the
better it is. The bellow table shows the rank of the companies
according to Beta and Standard Deviation. Here the fund with
the lowest Beta or SD has been given the 1st Rank and so on.
0.15 SBI 1 0.12% HDFC 1
0.28 UTI 2 0.16% ABSL 2
0.30 ABSL 3 0.16% UTI 3
0.32 Reliance 4 0.16% Reliance 4
0.34 ICICI Pru 5 0.17% ICICI Pru 5
0.48 HDFC 6 0.28% SBI 6
31 | P a g e
CREDIT RISK FUND- These mutual funds invest in bonds which are below
highest grade rating. Higher the rating; Lower the possibility of default. However lower
rated bonds offer higher interest rates , and thus returns.
Suitable For : Investors who want to invest money for longer duration but prefer less
riskier assets compared to equity funds.

UTI Credit Risk Fund – 4,805.89 6.10% 5.71% 7.07% 8.06% NA
Growth
ABSL CreditRisk Fund – 7,087.86 5.91% 5.87% 7.56% NA NA
Regular Plan-Growth
HDFC Credit Risk Debt Fund –
15,965.70 7.64% 5.96% 7.35% 8.51% NA
Regular Plan -Growth
ICICI Prudential Credit Risk11,155.62 7.68% 6.86% 7.76% 8.29% NA
Fund - Growth
SBI Credit Risk Fund – 5,406.70 6.90% 5.97% 7.15% 8.36% 8.29%
Growth
Reliance Credit Risk- 9,291.72 4.92% 5.09% 6.54% 7.69% 7.78%
Growth

UTI Credit Risk Fund – 43,191 0.85 1.38% 1.59%
Growth
ABSL CreditRisk Fund – NA 1.16 1.96% 1.66%
Regular Plan-Growth
HDFC Credit Risk Debt Fund – NA 1.37 2.16% 1.45%
Regular Plan -Growth
ICICI Prudential Credit Risk NA 0.36 1.43% 1.64%
Fund - Growth
SBI Credit Risk Fund – NA 0.42 1.87% 1.54%
Growth
Reliance Credit Risk- NA 5.26 2.23% 1.53%
Growth
32 | P a g e
Credit Risk Fund Return Percentages
9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Fund Houses

0.36 ICICI 1 1.38% UTI 1
0.42 SBI 2 1.43% ICICI 2
0.85 UTI 3 1.87% SBI 3
1.16 ABSL 4 1.96% ABSL 4
1.37 HDFC 5 2.16% HDFC 5
5.26 Reliance 2.23% Reliance 6
33 | P a g e
DYNAMIC BOND FUND- These mutual funds invest in bonds across maturity.
Maturity is adjusted based on market conditions to improve returns for the investors.

UTI-Dynamic Bond Fund – 749.72 1.12% 2.01% 5.85% 7.30% NA
Growth
ABSL Dynamic Bond Fund –4,058.76 6.50% 3.94% 5.75% 7.79% 8.00%
HDFC Dynamic Debt Fund –701.19 2.74% 2.11% 4.82% 7.05% 6.97%
Growth
ICICI Prudential All Seasons2,647.29 8.50% 6.36% 8.67% 9.82% NA
Bond Fund - Growth
SBI Dynamic Bond Fund – 1,036.66 9.19% 5.47% 7.99% 8.61% 8.18%
Growth
Reliance Dynamic Bond 1,013.19 8.47% 4.87% 6.85% 8.07% 7.73%
Fund - Growth

UTI-Dynamic Bond Fund – NA 1.12 5.01% 1.72%
Growth
ABSL Dynamic Bond Fund – NA 3.03 5.26% 1.62%
HDFC Dynamic Debt Fund – NA 2.81 4.84% 1.86%
Growth
ICICI Prudential All Seasons NA 1.57 4.15% 1.3%
Bond Fund - Growth
SBI Dynamic Bond Fund – NA 0.93 3.78% 1.59%
Growth
Reliance Dynamic Bond NA 2.8 4.52% 1.99%
Fund - Growth
34 | P a g e
Dynamic Bond Fund Return Percentages
10.00%
9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Fund Houses

0.93 SBI 1 3.78% SBI 1
1.12 UTI 2 4.15% ICICI 2
1.57 ICICI 3 4.52% Reliance 3
2.80 Reliance 4 4.84% HDFC 4
2.81 HDFC 5 5.01% UTI 5
3.03 ABSL 6 5.26% ABSL 6
35 | P a g e
INCOME FUND- These mutual funds select bonds/debt for investment such that
average maturity (remaining) period for portfolio is between 4 to 7 years (Macaulay
duration). Longer duration funds may provide higher returns but are more sensitive to
interest rate changes.

UTI Bond Fund - Growth 673.69 0.57% 1.37% 5.11% 6.89% 7.28%
ABSL IncomeFund – 929.15 9.46% 5.21% 7.02% 8.13% 7.28%
HDFC Income Fund – 786.46 7.72% 3.83% 5.80% 7.51% 6.90%
Growth
ICICI Prudential Bond Fund3,289.09
– 8.82% 5.84% 7.14% 8.51% 7.73%
Growth
SBI Magnum Income Fund –1,212.57 8.23% 5.49% 7.69% 8.32% 7.68%
Growth
Reliance Income Fund – 325.04 10.39% 5.72% 7.26% 8.17% 7.13%
Growth

UTI Bond Fund - Growth 24,524 1.17 5.08% 1.72%
ABSL IncomeFund – NA 1.37 5.18% 1.59%
HDFC Income Fund – NA 1.33 5.14% 2.2%
Growth
ICICI Prudential Bond Fund – NA 0.80 3.00% 1.09%
Growth
SBI Magnum Income Fund – NA NA 0.79 3.06% 1.47%
Growth
Reliance Income Fund – NA 1.31 4.96% 1.62%
Growth
36 | P a g e
Income Fund Return Percentages
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
Fund Houses

0.79 SBI 1 3.00% ICICI 1
0.80 ICICI 2 3.06% SBI 2
1.17 UTI 3 4.96% Reliance 3
1.31 Reliance 4 5.08% UTI 4
1.33 HDFC 5 5.14% HDFC 5
1.37 ABSL 6 5.18% ABSL 6
37 | P a g e
GILT FUND -These mutual funds invest mostlty in government bonds. Government
bonds are considered the safest investment in the country.
Suitable For : Investors who want to invest money for longer duration but their first and
only priority is safety of their investments.

UTI Gilt Fund - Growth 475.28 9.12% 5.23% 8.98% 9.75% 8.15%
ABSL Government Securities183.32 10.66% 5.92% 8.62% 10.00% 8.35%
Fund - Growth
HDFC Gilt Fund - Growth 1,164.47 8.81% 5.17% 7.00% 9.03% 7.24%
ICICI Prudential Gilt Fund –1027.92 8.77% 6.12% 8.08% 9.42% 7.23%
Growth
SBI Magnum Gilt Fund – 1399.71 9.54% 5.29% 8.35% 10.01% 8.01%
Growth
Reliance Gilt Securities Fund-962.26 11.72% 6.82% 9.12% 10.15% 7.94%
Growth

UTI Gilt Fund - Growth 5,137 0.78 4.9% 0.93%
ABSL Government Securities NA 0.95 5.75% 1.18%
Fund - Growth
HDFC Gilt Fund - Growth NA 0.85 5.2% 0.90%
ICICI Prudential Gilt Fund – NA 1.32 6.12% 1.05%
Growth
SBI Magnum Gilt Fund – NA 0.79 4.79% 0.95%
Growth
Reliance Gilt Securities Fund- NA 0.86 5.12% 1.59%
Growth
38 | P a g e
Gilt Fund Return Percentages
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
Fund Houses

Equity Funds but these funds are considered as the safest
because they invest in Government Bonds. However, the
0.78 UTI 1 4.79% SBI 1
0.79 SBI 2 4.90% UTI 2
0.85 HDFC 3 5.12% Reliance 3
0.86 Reliance 4 5.20% HDFC 4
0.95 ABSL 5 5.75% ABSL 5
1.32 ICICI 6 6.12% ICICI 6
39 | P a g e
DEBT PERFORMANCE
Debt Performance
9.00%
8.32%
8.00% 7.74%
7.49%
7.20%
7.00%
6.00% 5.50%
Average Returns
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Years of Investment
This graph has been obtained by calculating the average of each

year of their respective Equity Fund Categories and then again
calculating the average of average that we have calculated earlier
of each Funds.
Debt mutual funds invest the majority of their corpus in fixed-
income or fixed-interest generating opportunities and instruments.
Some examples of the instruments debt funds invest in are -
money market instruments, corporate bonds, treasury bills,
government securities, commercial papers, etc. By investing
primarily in these opportunities, debt mutual funds reduce the risk
factor by a huge margin. As a result of this, the mutual fund
scheme also reduces its chances to generate exponential returns
like those of successful equity fund schemes. It is a safer option
that seeks to generate income better than fixed deposits rather than
high returns. Debt funds are different from equity funds in many
ways - the primary of which is the chosen investment instrument
or opportunity.
40 | P a g e
HYBRID SCHEMES
HYBRID EQUITY FUND- These mutual funds invest in both Stocks and
Debt/Bonds. However focus on stocks is higher with 65-80% of total investments in
stocks and rest in bonds.

UTI Hybrid Equity Fund – 5,760.34 2.69% 5.30% 10.60% 9.37% 11.38%
Growth
ABSLEquity Hybrid 95 Fund13,221.36
– 2.24% 5.44% 10.44% 11.35% 13.50%
HDFC Hybrid Equity Fund –22,383.77 7.38% 8.40% 13.48% 13.19% 16.42%
Growth
ICICI Prudential Equity & 26,128.61 8.98% 8.45% 14.26% 13.03% 15.47%
Debt Fund - Growth
SBI Equity Hybrid Fund – 29,409.04 9.76% 12.31% 13.10% 13.74% 13.37%
Reliance Equity Hybrid Fund11,872.19
– 0.55% 5.56% 10.62% 11.18% 13.75%
Growth

UTI Hybrid Equity Fund – 8,55,833 1.01 9.08% 2.00%
Growth
ABSLEquity Hybrid 95 Fund NA– 1.09 9.64% 73.00% 1.76%
HDFC Hybrid Equity FundNA – 0.91 13.05% 8.73% 1.81%
Growth
ICICI Prudential Equity & NA 0.94 8.73% 203.00% 1.76%
Debt Fund - Growth
SBI Equity Hybrid Fund – NA 0.82 9.43% 1.71%
Reliance Equity Hybrid Fund
NA– 1.18 10.35% 142.00% 1.82%
Growth
41 | P a g e
Hybrid Equity Fund Return Percentages
18.00%
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
Fund Houses

3 year, 5 year and 10 year). It is a mixture of both Equity and
Debt, with Equity more than 65% and the rest being Debt.
This fund gives a good amount of return in the long run.
However, the returns may be volatile. This volatility of the
funds can be analysed by Beta and SD, lesser the value of
Beta and SD the better it is. The bellow table shows the rank
of the companies according to Beta and Standard Deviation.
Here the fund with the lowest Beta or SD has been given the
1st Rank and so on.
0.91 HDFC 1 8.73% ICICI 1
0.94 ICICI 2 9.08% UTI 2
1.01 UTI 3 9.64% ABSL 3
1.09 ABSL 4 10.35 Reliance 4
%
1.18 Reliance 5 13.05 HDFC 5
%
42 | P a g e
MULTI ASSET ALLOCATION FUND - These mutual funds invest in atleast 3
asset classes with atleast 10% in each asset classes.

UTI Multi Asset Fund - Retail 824.59
– 0.99% 3.82% 7.50% 5.78% 9.04%
Growth
HDFC Multi-Asset Fund – 149.81 3.56% 5.14% 7.29% 7.50% 9.57%
Growth
ICICI Prudential Multi-Asset 11,198.36 5.94% 8.18% 14.18% 10.81% 15.02%
Fund - Growth
SBI Multi Asset Allocation 278.34 2.27% 4.74% 6.35% 8.49% 8.69%
Fund - Growth

UTI Multi Asset Fund – 63,647 0.48 5.94% 307.00% 2.5%
Retail – Growth
HDFC Multi-Asset Fund – NA 0.46 6.07% 92.84% 2.64%
Growth
ICICI Prudential Multi-Asset
NA 0.68 9.14% 305.00% 1.96%
Fund - Growth
SBI Multi Asset Allocation NA 0.17 2.84% NA 1.81%
Fund - Growth
43 | P a g e
Multi Asset Allocation Fund Return Percentages
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
UTI HDFC ICICI SBI
Fund Houses
The Chart shows the returns of the FOUR Mutual Fund

3 year, 5 year and 10 year). It is a mixture of both Equity and
Debt, with Equity more than 65% and the rest being Debt,
Money Market Instruments and also in Gold ETFs. This fund
gives a good amount of return in the long run. However, the
0.17 SBI 1 2.84% SBI 1
0.46 HDFC 2 5.94% UTI 2
0.48 UTI 3 6.07% HDFC 3
0.68 ICICI Pru 4 9.14% ICICI 4
44 | P a g e
HYBRID PERFORMANCE
Hybrid Performance
14.00%
12.28%
12.00%
10.46% 10.06%
10.00%
Average Returns
8.00%
6.52%
6.00%
4.23%
4.00%
2.00%
0.00%
Years of Investment
This graph has been obtained by calculating the average of

each year of their respective Equity Fund Categories and then
again calculating the average of average that we have
calculated earlier of each Funds.
A hybrid mutual fund scheme that invests over 65% of its
corpus in equities and the remaining in debt is called an
Equity-Oriented Hybrid Mutual Fund. Conversely, a hybrid
mutual fund scheme that invests over 65% of its corpus in
debt instruments and the remaining into equity is called a
Debt-Oriented Hybrid Mutual Fund. Hybrid mutual fund
schemes diversify the investment and attempt to get the best
of both worlds - capital appreciation through equity investing
as well as stability and returns through investments in debt
instruments. Hybrid schemes use asset allocation, market
analysis and portfolio diversification to ensure maximum
returns at minimal risk. Investing in hybrid mutual funds in
India is a very popular practice for both risk-taking and risk-
averse investors who wish to increase their wealth and also
mitigate risk.
45 | P a g e
3) GROWTH ANALYSIS
Indian Mutual Fund industry’s Average Assets Under
Management (AAUM) has crossed a landmark of ₹ 25
Lakh Crore:-
Average Assets Under Management (AAUM) of Indian
Mutual Fund Industry for the month of April 2019 has crossed
a landmark of ₹ 25 Lakh Crore and stood at ₹ 25,27,633
crore Assets Under Management (AUM) as on April 30, 2019
stood at ₹24,78,757 crore. The AUM of the Indian MF
Industry has grown from ₹ 5.94 trillion as on 30th April, 2009
to ₹24.79 trillion as on 30th April, 2019, more than 4 fold
increase in a span of 10 years. The MF Industry’s AUM has
grown from ₹9.45 trillion as on 30th April, 2014 to ₹24.79
trillion as on 30th April, 2019, more than 2 ½ fold increase in
a span of 5 years. The Industry’s AUM had crossed the
milestone of ₹10 Trillion (₹10 Lakh Crore) for the first time
in May 2014 and in a short span of about three years, the
AUM size had increased more than two folds and crossed ₹
20 trillion (₹20 Lakh Crore) for the first time in August 2017.
The Industry AUM stood at ₹24.79 Trillion (₹ 24.79 Lakh
Crore) as on 30th April, 2019. The total number of accounts
(or folios as per mutual fund parlance) as on April 30, 2019
stood at 8.27 crore (82.7 million), while the number of folios
under Equity, Hybrid and Solution Oriented Schemes,
wherein the maximum investment is from retail segment
stood at 7.47 crore (74.7 million). This is 59th consecutive
month witnessing rise in the no. of folios.
46 | P a g e
Growth in AUM
3000000
2500000
Asset Under Management
2000000
1500000
1000000
500000
0
Apr- Apr- Apr- Jan- Feb- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- April
65 87 93 03 03 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 30
2019
Years
Series 1
ADVANTAGES OF MUTUAL FUNDS

Mutual funds have designed to provide maximum benefits to
investors, and fund manager have research team to achieve
schemes objective. Assets Management Company has different
type of sector funds, which need to proper planning for strategic
investment and to achieve the market return.
Portfolio Diversification -Mutual Funds invest in a well-
diversified portfolio of securities which enables investor to hold
a diversified investment portfolio (whether the amount of
investment is big or small). 10
Professional Management- Fund manager undergoes through
various research works and has better investment management
skills which ensure higher returns to the investor than what he
can manage on his own.
Less Risk - Investors acquire a diversified portfolio of securities
even with a small investment in a Mutual Fund. The risk in a
diversified portfolio is lesser than investing in merely 2 or 3
securities.
47 | P a g e
Low Transaction Costs - Due to the economies of scale (benefits
of larger volumes), mutual funds pay lesser transaction costs.
These benefits are passed on to the investors.
Liquidity- An investor may not be able to sell some of the shares
held by him very easily and quickly, whereas units of a mutual
fund are far more liquid.
Choice of Schemes- Mutual funds provide investors with various
schemes with different investment objectives. Investors have the
option of investing in a scheme having a correlation between its
investment objectives and their own financial goals. These
schemes further have different plans/options
Transparency- Funds provide investors with updated
information pertaining to the markets and the schemes. All
material facts are disclosed to investors as required by the
regulator. 11
Flexibility- Investors also benefit from the convenience and
flexibility offered by Mutual Funds. Investors can switch their
holdings from a debt scheme to an equity scheme and vice-versa.
Option of systematic (at regular intervals) investment and
withdrawal is also offered to the investors in most open-end
schemes.
Safety- Mutual Fund industry is part of a well-regulated
investment environment where the interests of the investors are
protected by the regulator. All funds are registered with SEBI
and complete transparency is forced.
DISADVANTAGES OF MUTUAL FUNDS
48 | P a g e
The mutual fund not just advantage of investor but also has
disadvantages for the funds. The fund manager not always made
profits but might creates loss for not properly managed. The fund
have own strategy for investment to hold, to sell, to purchase unit
at particular time period.
Costs Control Not in the Hands of an Investor- Investor has to
pay investment management fees and fund distribution costs as a
percentage of the value of his investments (as long as he holds
the units), irrespective of the performance of the fund
No Customized Portfolios- The portfolio of securities in which a
fund invests is a decision taken by the fund manager. Investors
have no right to interfere in the decision making process of a
fund manager, which some investors find as a constraint in
achieving their financial objectives. 12
Difficulty in Selecting a Suitable Fund Scheme- Many investors
find it difficult to select one option from the plethora of
funds/schemes/plans available. For this, they may have to take
advice from financial planners in order to invest in the right fund
to achieve their objectives.
49 | P a g e
4) Limitation of the Study
The following are some limitations that have been faced while
conducting the survey:-
 6 Fund Houses out of 44 Fund Houses has been selected
due to time constrains.
 Not all types of Mutual Funds of 44 Fund Houses has
been studied.
 Not all schemes of the Six Fund Houses has been
studied.
 The Survey has been done based on historical data and
does not guarantee any future returns.
 Unavailability of confidential data.
 Lack of enough resources.
 Lack of experience.
50 | P a g e
CONCLUTION
Mutual Funds are one of the most highly growing products in
financial services market. Mutual funds are suitable for all
types of investors from risk adverse to risk bearer. Mutual
funds have many options of return, risk free return, constant
return, market associated return. Mutual funds are suitable to
all age of investors, businessmen, salary person, etc. Investors
need not be expert in equity market; mutual funds can satisfy
their needs. Fund managers are expert in this area and invest
fund in well-diversified portfolio, high return with low risk is
possible in mutual fund.
In today’s world, investors are showing more trust in mutual
fund than any other financial product. Mutual fund is subject
to market risk, despite of that it have low risk than stock
market.
We have seen Mutual Fund getting adversely affected at the
time of Harshad Mehta, Ketan Parekh, Recession in IT sectors
all over the world and the time of Lehman Brothers but the
market again got back to its own pace from as low as 2600
(BSE SENSEX) to 39000 (BSE SENSEX), similarly in case
of mutual fund the growth will always continue in the long
run.
51 | P a g e
BIBLIOGRAPHY
Data has been collected from :-
 www.moneycontrol.com
 www.valueresearch.com
 www.fundsindia.com
 www.cleartax.com
 www.economictimes.com
 Fund House Magazines
52 | P a g e

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PROJEC

1.2 Background & History of Mutual Fund Industry 6-9

1.3 Association of Mutual Fund India 9-10

1.4 Mutual Fund- A Globally Proven Investment 10

2 MAJOR COMPANIES IN MUTUAL FUND 11-13

2.2 Major Mutual Fund Companies 12-13

3 MUTUAL FUND SCHEMES 14

Chapter 2:- Survey/Analysis

1.2 Instruments used in the Analysis Process 16-17

1.3 Research Design 17

a) Large Cap Fund 19-20

b) Mid Cap Fund 21-22

d) Multi Cap Fund 25-26

e) Banking and Financial Services 27-28

2.2 DEBT SCHEMES 30-40

a) Liquid Fund 30-31

b) Credit Risk Fund 32-33

c) Dynamic Bond Fund 34-35

d) Income/Bond Fund 36-37

e) Guilt Fund 38-39

2.3 HYBRID FUND 41-45

a) Hybrid Equity Fund 41-42

b) Multi Asset Allocation Fund 43-44

3 GROWTH ANALYSIS 46-49

3.2 Advantages of Mutual Fund 47-48

3.3 Disadvantages of Mutual Fund 49

ASSOCIATION OF MUTUAL FUNDS INDIA

MUTUAL FUND- A GLOBALLY PROVEN

MAJOR MUTUAL FUND COMPANIES

3) MUTUAL FUND SCHEMES

Equity Schemes Debt Schemes Hybrid Schemes

Large Cap Funds Liquid Fund Hybrid Equity Fund

Multi Asset Allocation

Small Cap Funds Dynamic Bond Fund

Multi Cap Fund Income Fund

Banking and Financial

Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

1 Years 2 Years 3 Years 5 Years 10 Years

The Chart shows the returns of the SIX Mutual Fund

Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

Mid Cap Funds Return Percentages

1 Years 2 Years 3 Years 5 Years 10 Years

The Chart shows the returns of the SIX Mutual Fund

Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

1 Years 2 Years 3 Years 5 Years 10 Years

The Chart shows the returns of the FOUR Mutual Fund

Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

1 Years 2 Years 3 Years 5 Years 10 Years

The Chart shows the returns of the SIX Mutual Fund

Table 1:- PERFORMANCE ANALYSIS as on 28th May,2019

Table 2:- TECHNICAL ANALYSIS as on 30th April,2019

1 Years 2 Years 3 Years 5 Years 10 Years

The Chart shows the returns of the FIVE Mutual Fund

Series 1 Linear (Series 1)

This graph has been obtained by calculating the average of each