Acknowledgement

I wish to acknowledge my indepentedness to my project Asst. professor Vanika.

The project could not have been a success without his able support and guidance.
Thanking her is a small gesture for the generosity shown.

It is a matter of great pleasure to submit this report on; Mutual fund by Bajaj
Capital would like to express my deepest gratitude to Vikrant khanna for giving
me a golden opportunity to pursue my summer training in the esteemed
organization.

No less my grateful thanks and gratitude goes to the members of time office
for their help throughout this project.

This acknowledgement shall remain incomplete without the support of the

friends and respondents.

Sukhpreet Kaur
 Declaration
I hereby declare that this project report entitled “Mutual Fund” submitted in the
partial fulfillment of the requirement of Bachelor of Business Administration(BBA)
of Bajaj Capital, Ludhiana is based on primary and Secondary data found by me
websites and collected by me .

Sukhpreet Kaur

BBA (4th semester)

1521834
 Executive Summary
In few years mutual fund has emerged as a tool for ensuring one’s financial well being. Mutual
funds have not only contributed to the India growth story but have also helped families tap into
the success of Indian industry. As information and awareness is rising more and more people
are enjoying the benefits of investing in mutual fund. The main reason the number of retail
mutual fund investors remains small is that nine in ten people with incomes in India do not
know that mutual funds exist. But once people are aware of mutual fund investment
opportunities, the number who decide to invest in mutual funds increase to as many as one in
five people. The trick for converting a person with no knowledge of mutual funds to a new
mutual fund customer is to understand which of the potential investors are more likely to buy
mutual funds and to use the right arguments in the sales process that customers will accept as
important and relevant to their decision.

The project gave me a great learning experience and at the same time it gave me enough
scope to implement my analytical ability. The analysis and advice presented in this project
report is based on market research on the saving and investment practices of the investors and
preferences of the investors for investment in mutual funds. This report will help to know about
the investors preferences in mutual fund means are they prefer any particular Asset
Management Company which type of product they prefer or option(growth or Dividend) they
prefer or which investment strategy they follow (Systematic investment plan). This project as a
whole can be divided into two parts.

The first part gives an insight about mutual fund and its various aspects, the company
profile, objectives of the study, Research methodology. One can have a brief Knowledge about
mutual fund and its basics through the project.

The second part of the project consists of data and its analysis collected through survey
done on 100 people. For the collection of primary data made a questionnaire and survey of 100
people. This project covers the topic “Mutual Fund”. The data collected has been well organized
and presented. I hope the research finding and conclusions will be of use.
 CONTENTS
ACKNOWLEDGEMENT

DECLARATION

EXECUTIVE SUMMARY

CHAPTER 1 – INTRODUCTION

CHAPTER 2- COMPANY PROFILE

CHAPTER 3 – OBJECTIVE AND SCOPE

CHAPTER 4 – RESEARCH METHDOLOGY

CHAPTER 5 – DATA ANALYSIS AND INTERPRETATION

CHAPTER 6 – FINDING AND CONCLUSIONS

CHAPTER 7- SUGGESTION AND RECOMMENDATION

ANNEXURE BIBLIOGRAPHY

QUESTIONNAIRE
 CHAPTER-1
INTRODUCTION

Mutual funds
A mutual fund is a professionally managed investment fund that pools money from many investors to
purchase securities. Mutual funds have advantages and disadvantages compared to direct investing in
individual securities. The primary advantages of mutual funds are that they provide a higher level of
diversification, they provide liquidity, and they are managed by professional investors. On the negative
side, investors in a mutual fund must pay various fees and expenses.

Primary structures of mutual funds include open-end funds, unit investment trusts, and closed-
end funds. Exchange-traded funds (ETFs) are open-end funds or unit investment trusts that trade
on an exchange. Mutual funds are also classified by their principal investments as money market
funds, bond or fixed income funds, stock or equity funds, hybrid funds or other. Funds may also
be categorized as index funds, which are passively managed funds that match the performance of
an index, or actively managed funds. Hedge funds are not mutual funds; hedge funds cannot be
sold to the general public and are subject to different government regulations.

Advantages and Disadvantages of Mutual Funds

Advantages

Professional Management

Professional asset managers carefully select the securities in which they invest. Asset managers
also employ a group of analysts and experts that produce detailed information set on which the
managers rely in order to select securities. These calls are also based on the investment
objective of the fund as well as the risk tolerance. On the other hand, individual investors have
limited means and access to the investment universe. It is important to notice that professional
management is ruled by a wide range of investment, legal and institutional regulations so as to
avoid any conflicts of interest.
.
Diversification

Mutual fund can hold hundreds or thousands of different securities among different companies,
sectors and regions. This diversification allows investors to reduce the risk of a particular stock
or sector. The main point here is that by investing in a mutual fund, single investors with small
amounts get access to a diversified pool of securities, which they would not be able to do by
their own means.

Lower Cost

The cost for a single investor to buy stocks or bonds through a mutual fund is much lower than
investing individually so as to create a diversified portfolio. This is due to the fact that the cost
of accessing to the detailed information and analysis of professional management stated above
is being shared among thousands of investors.

Ease / Transparency

With thousands of UCITS available worldwide, investors have access to a wide range of
investment vehicles that meet different investment objectives and cover many markets, sectors
and types of securities. This broad range of investment options has resulted in management
companies which are continuously competing with each other in order to provide services, such
as Systematic Investment Plans, Wealth Asset Allocation models etc. For end investors it
becomes easier to make investment decisions in order to meet their investment needs and to
monitor the performance of their portfolios.

Liquidity

Mutual funds also provide liquidity which means that in the case of an open-end fund someone
can liquidate its units on a daily basis it is important to mention that there is a daily valuation
securities of mutual funds, consequently there is a daily valuation of the units (NAV).

Regulatory compliance

UCITS follows a strict regulatory framework under which they are structured managed and
invested. As a result this provides a safety net for the end investors.

Disadvantage
Volatility

A mutual fund units price changes due to the fluctuations of the underlying securities.
Mutual funds cannot guarantee a certain return or a certain return on capital. In most
of the cases investors have to pay management, sales and any other operation fees
irrespective to the performance of the funds. If an investment is very risk adverse and
needs absolute guarantee, it would be better to invest in more traditional banking
products.

Authorization procedures
If an investor wants to include specific stocks and bonds in their portfolio, the mutual funds are
not a suitable solution for them. Mutual funds are considered to be successful investment
vehicles because they spread the management costs to all portfolio investors. Thus ,they
cannot investment who wants to trade specific shares or bonds.

Limited flexibility
If an investor has a high level of capital to invest, it is possible that mutual funds do not provide
him with the flexibility that he needs. Many investment banks are able to create specific
investment products in order to meet his specialized investment needs. Moreover, for this high
net worth individuals many funds managers provide the option of segregated investment
accounts according to customer individual needs and requirement. However the wide range
and vast array of
UCITS today can satisfy the needs of the most demanding investors.

MF History
The mutual fund industry in India started in 1963 with the formation of Unit Trust of India, at the
initiative of the Government of India and Reserve Bank of India. The history of mutual funds in
India can be broadly divided into four distinct phases

First Phase - 1964-1987

Unit Trust of India (UTI) was established in 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)

1987 marked the entry of non-UTI, 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 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
established its mutual fund in June 1989 while GIC had set up its mutual fund in December
1990.

At the end of 1993, the mutual fund industry had assets under management of Rs. 47,004 crores.

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

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated
into two separate entities. One is the Specified Undertaking of the Unit Trust of India with assets
under management of Rs. 29,835 crores as at the end of January 2003, representing broadly, the
assets of US 64 scheme, assured return and certain other schemes. 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, 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 assets under management 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.

The graph indicates the growth of assets over the years.

Note:

Erstwhile UTI was bifurcated into UTI Mutual Fund and the Specified Undertaking of the Unit
Trust of India effective from February 2003. The Assets under management of the Specified
Undertaking of the Unit Trust of India has therefore been excluded from the total assets of the
industry as a whole from February 2003 onwards.
Different Types of Mutual Funds in India

Mutual Fund Industry |

When it comes to investment, mutual funds offer a variety of options to suit the risk
appetite and return expectation of every investor. There are different types of mutual funds
which are categorized under different classes and sub-classes. Before you take a plunge in the
mutual fund world, it`s important to understand them.

Equity Funds :

Equity funds are composed of shares of companies, as underlying asset. These kinds of funds are
aggressive in nature as they not only give superior yield amongst all other market instruments, but are
also exposed to high risk owing to market volatility. Usually, investors with a high appetite for returns
and risk, invest in these funds.

Equity funds are further divided into large cap funds, mid/small cap funds, diversified funds, sectoral
funds, index funds and thematic/specialty funds:

* Large Cap funds are funds which invest a larger proportion of their corpus in companies with a
large market capitalization.

* As the name suggest Mid Cap funds typically invest in medium-sized companies with a market
capitalization between Rs. 3,000 - 10,000 crores and Small Cap funds invest in companies with market
capitalization of Rs. 500 - 3,000 crores.

* Diversified funds invest in equity of companies across sectors and capitalization or size and are
flexible in their investment style.

* Sectoral funds limit their investment in a specific industry or a sector (for example, banking).
* Index funds have a stock market index as an underlying asset and any appreciation or fall in the
value of fund depends solely on the movement of such index (for example, BSE Sensex).

* Thematic/specialty funds invest in a particular theme instead of a specific sector (for example,
an infrastructure fund will comprise of companies dealing in infrastructure, construction, cement, steel
and related products/services/projects).

Debt Funds :

Debt funds invest in fixed income securities, and provide regular and steady income to investors. They
are relatively more liquid owing to their term as well as nature. They offer a safer avenue for investors
who want to earn returns higher than that offered on conventional bank deposits, but are not ready to
take high risks by investing in shares or equity.

Debt funds are further classified into income funds, gilt funds, liquid funds, fixed maturity plans (FMPs)
and short term funds:

* Income funds invest in corporate debentures, government securities and bonds. The maturity
ranges from 1-2 years to 15-20 years.

* Gilt funds invest in papers backed by the state and central government. The maturity ranges
from 1-2 years to 15-20 years.

* Liquid funds invest in highly liquid money market instruments such as treasury bills, inter-bank
call money market, commercial papers and certificates of deposit. The maturity is usually less than 91
days.
* FMPs invest in schemes with a fixed tenure and similar maturity. The maturity ranges from 3-6
months to 3-5 years.

* Short term funds invest in commercial papers, certificate of deposits and bonds with a maturity
3-12 months.

Balanced/Hybrid Funds :

Hybrid or balanced funds are a mix of equity and debt funds, and mostly the mix of debt-equity is in a
pre-specified proportion. They provide a balance between security and high returns. So, investors who
want to take advantage of moderate returns while minimizing the risk, can opt for these funds.

Balanced fund are classified into two categories:

* Equity oriented balanced funds where 65% or more of the corpus is invested in equity and the
rest in debt.

* Debt oriented balanced funds or monthly income plans (MIPs) where 75-95% of the corpus is
invested in debt and rest in equity.

Asset Allocation Funds :

Asset allocation fund invests in a wide variety of investments, including domestic and foreign stocks and
bonds, government securities, gold bullion and real estate stocks. It allows ongoing adjustments in the
proportions of debt and equity, but keeping them within certain predetermined limits. These funds
usually allow 0 to 90% of allocation to equity. This helps investor in taking complete advantage of high
returns on equity when the stocks are doing well and save from incurring heavy losses when there is a
fall in the stock prices of the portfolio (this is of course dependent on fund manager to move the
allocation smartly).

Let us take an example - an investor opts to invest in Fund A by investing 60% in equity and 40% in debt.
The fund manager allocates the amount accordingly. The companies forming the portfolio of Fund A
experience an upswing in their share prices, which is expected to continue for a couple of months, so
fund manager increases the allocation to equity by 20% more making the equity investment 80%. This
increase will automatically reduce the allocation in debt instruments to 20%. If the share price falls, the
fund manager has the freedom to increase the allocation in debt so as to avoid losses and making
moderate gains. All this is always subject to Fund Manager’s prudence and ability to take the right call at
right time.

Fund of Funds (FoF) :

Fund of Funds or multi manager investment funds invest in the performance of other investment funds
instead of investing directly in bonds, stocks or other securities. They are low on risk as they are widely
diversified but carry relatively high management expenses owing to the 2-tier structure.

Exchange Traded Funds (ETFs) :

ETFs are a basket of stocks that reflect an index. It is not your typical mutual fund because it trades like
just any other company on a stock exchange. ETFs also have a NAV, however, it fluctuates throughout
the day as ETFs trade in real-time. Investors who are looking for diversification of the index as well as
flexibility, opt for ETFs.

ETFs can be further classified into six categories:

* Commodity ETFs invest in commodities like gold, silver, oil, livestock and various agricultural
products. They help in protection from inflation and enhance diversification to an investor’s portfolio.
You don’t have to hold these commodities physically. Among these, Gold ETFs are most popular in India.
* Index ETFs invest in benchmark index funds. For example, Nifty or Sensex ETF.

* Bank ETFs invest in stocks of banks which are part of the banking index it follows.

* Liquid ETFs invest in debt instruments and securities.

* International ETFs invest in foreign based securities.

* Currency ETF invest in currencies such as rupees, dollars, etc. They fluctuate depending
on the rise and fall of the currency.
As you can understand, there is a mutual fund for every kind of investors, whether risk-averse or
a risk-taker. Before opting for any, do a careful analysis of your investment goals and risk-return
trade-off that you prefer. Please do not surrender everything to chance and the fund houses
displayed expertise.

How mutual funds work

A mutual fund is a collection of investments, such as stocks, bonds and other funds owned by a
group of investors and managed by a professional money manager. The investment objective of
the mutual fund determines what types of securities it buys. A mutual fund can focus on specific
types of investments. For example, a fund may invest mainly in government bonds, stocks from
large companies, or stocks from certain countries. Or, it may invest in a variety of investments.

When you buy a mutual fund, you’re pooling your money along with other investors. You put
money into a mutual fund by buying units or shares of the fund. As more people invest, the fund
issues new units or shares.

The investments in a mutual fund are managed by a portfolio manager. They manage the fund on
a day-to-day basis, deciding when to buy and sell investments according to the investment
objectives of the fund.

4 things to know
1. Risk – The level of risk and return depends on what the fund invests in. Mutual funds are not
guaranteed or insured by the Canada Deposit Insurance Corporation (CDIC) or any other
 government agency – even if you buy through a bank and the fund carries the bank’s name. You
can lose money investing in mutual funds.
2. Past performance – How a fund has performed in the past can’t tell you how it will perform in
the future. But past performance can help you determine how volatile or risky the fund’s returns
may be.
3. Price to buy and sell – You buy mutual funds at the fund’s net asset value (NAV) plus any sales
charges. Mutual funds are redeemable – you can sell your mutual funds at the current NAV less
any fees and charges for redemption.
4. Fees – All mutual funds have fees and expenses that reduce your investment return.

Net asset value (NAV)

When you purchase or redeem securities of a mutual fund, you pay or receive what is known as
the net asset value (NAV) of the security at the time of purchase, switch or redemption. Most
mutual funds report their NAV daily in the business section of many newspapers, or on the fund
manager’s website. NAV represents the mutual fund’s assets less its liabilities. NAV will
fluctuate with changes in the market value of the mutual fund’s particular investments.

2 ways to make money on a mutual fund

1. Capital gains – If you sell your mutual fund for more than you paid for it, you will have a capital
gain. If you sell your mutual fund for less than you paid for it, you will have a capital loss.
2. Distributions – Depending on the type of fund you buy, you may also receive distributions of
dividends, interest, capital gains or other income the fund earns on its investments. You can
choose to receive distributions in cash or have them reinvested in the fund for you. Unless you
ask for the distributions to be paid in cash, the mutual fund will usually reinvest the distributions
for you.

Fees and expenses reduce the return you get on your investment. Some of these fees are paid by
you, and others are paid by the fund. Understand the costs before you buy a mutual fund.

How mutual funds are taxed

If you hold your mutual funds in a non-registered account, any money you make on them is
subject to tax. Distributions are taxable in the year you receive them, whether you get them in
cash or they are reinvested for you. Interest, dividends and capital gains are all treated differently
for tax purposes, and that will affect your return from an investment.

If you hold your mutual funds in a registered plan, like an RRSP, a RRIF or an RESP, you won’t
pay tax on the money you make as long as that money stays in the plan. When money is
withdrawn from the plan, it will be taxed as income.

With a TFSA, you don’t pay any tax on the money you make while it’s in the plan – or when you
take it out.

Learn more about how tax affects your investments.

Where to buy mutual funds
 Banks and trust companies
 Life insurance companies
 Credit unions and caisses populaires
 Mutual fund dealers
 Investment firms
 Mutual fund companies that sell directly to the public.

Most mutual funds are sold through financial advisors who are required to be registered with
their provincial regulator (for example, the Ontario Securities Commission). They must also
work for a company that is registered to sell funds. You can buy mutual funds without an advisor

Take action

Financial advisors who sell mutual funds are required to be registered with their provincial
securities regulator. Check registration and background through the Ontario Securities
Commission or Canadian Securities Administrators.

Caution

Mutual funds are not guaranteed. You may not get back the amount of money you invest.

Investment strategies
1. Systematic investment plan - under this a fixed sum is invested each month on a
fixed date of a month .payment is made through post dated cheques or direct debit
facilities. The investor gets fewer units when the NAV is high and more units when the
NAV is low. This is called as the benefits of rupee cost averaging (RCA ).
2. Systematic transfer plan-Under this an investor invest in debt oriented fund and
give instructions to transfer a fixed sum, at a fixed interval, to an equity scheme of the
same mutual fund.
3. Systematic withdrawal plan- If someone wishes to withdraw from a mutual fund
then he can withdraw a fixed amount each month.

What are the objectives of mutual fund?

The general objective of any Mutual Fund (MF) is maximizing the returns at a certain
level of risk.
There are specific objectives as well and Funds are usually classified as per their
objectives and the investment style. Here are some of the common forms of mutual fund
objectives:
 Growth Funds: The most common objective of investment is growth. The primary
objective of any growth fund is capital appreciation over the medium to long term.
Growth mutual funds are generally invested primarily in small to large cap stocks.

Income Funds: Here the objective is current income in certain intervals as opposed to
capital appreciation. These funds are suitable for investors, who are looking for cash flow
to supplement their income. To ensure steady income, major portion of the asset is
invested in income instruments viz. fixed interest debentures, bonds, preference stocks
and dividend paying stocks etc.

Sector/Industry Funds: These funds aims at investing only in specific sectors or

industries, such as real estate or healthcare. The main objective behind these funds is to
maximizing the return by exploiting the growth of booming sectors.

Value Funds: This funds generally aims at investing in stocks that are deemed to be
undervalued in price because of some inherent inefficiencies of the Market. It is
expected that, once the market corrects these inefficiencies, the stock price will rise thus
benefitting the investor.

These funds are sometimes further classified with different level of risks.

The investment objective of a MF is not be confused with the investment style. The fund
manager may practice a particular investing style, to meet the objective of a Fund. Two
funds with growth objective might differ in terms of investment style. One fund manager
may choose to invest in Blue chip funds while the other can choose to invest in
undervalued securities or even a blend of both.

7 Mutual Fund Performance Measures & Ratings – What They Mean

For years, investors, fund managers, and stock analysts have sought reliable indicators to project
the future return and risk of owning an individual stock, bond, or a portfolio of securities. The
underlying assumptions are as follows:

1. All investments have inherent risk which is assumed upon ownership.

2. Returns and risk can be objectively quantified by mathematical analysis of historical results.
3. The correlation of potential return and underlying risk constantly varies, providing
opportunities to acquire investments with maximum potential return and minimal risk.
These assumptions exemplify modern portfolio management and are the basis for the widely
used capital asset pricing model (CAPM) developed in the 1960s, which led to a Nobel
Memorial Prize in Economics for its creators. Enabled by technology, Wall Street wonks amass
and analyze massive amounts of historical data searching for hidden, often arcane relationships
to identify undiscovered opportunities for gain without risk. The results of their analysis are
often publicly available for use by private investors.

Measures of Common Stock & Mutual Fund Portfolios

Common stocks, mutual funds, and managed portfolios have been assigned certain measures by
which analysts judge their performance.

1. Alpha
Alpha is the measure of a portfolio’s return versus a specific benchmark, adjusted for risk. The
most common benchmark in use – and the one you can assume is used unless otherwise noted –
is the S&P 500. An investment with an alpha greater than zero has provided more return for the
given amount of risk assumed. A negative alpha – less than zero – indicates a security which has
underperformed the benchmark; it has earned too little for the risk assumed. Investors typically
want investments with high alphas.

2. Beta
Beta is the measure of an investment’s volatility to another market index, such as the S&P 500.
Volatility indicates how likely a security is to experience wide swings in value. If beta is 1.0, the
investment moves in sync with the S&P or experiences a measure of volatility similar to the
S&P. If beta is positive, the investment moves more than the index; if negative, the investment is
less volatile than the index. For example, a beta of 2.0 projects a movement two times that of the
market. Assuming a market price change of 15%, the investment could move 30% up or down.
Conservative investors typically prefer investments with low betas to reduce volatility in their
portfolios.

3. R-Squared Value
The R-squared value is a measurement of how reliable the beta number is. It varies between zero
and 1.0, with zero being no reliability and 1.0 being perfect reliability.

The two charts illustrate the variability of return for two funds compared to the volatility of the
S&P 500 in the same period. Each y-value represents a fund’s returns plotted against the S&P
500 returns (x-values) in the same period. The beta, or the line created by plotting these values, is
the same in each case. This suggests that the correlation between each fund and the S&P 500 is
identical. However, closer examination indicates that the beta in the second chart is far more
reliable than the beta in the first chart as the dispersion of the individual returns (x) is much
tighter. Therefore, the R-squared value is higher for the fund in second chart.
4. Standard Deviation
While beta typically measures an investment’s movement against an index such as the S&P 500,
standard deviation measures the volatility of an investment in a different way. Instead of
comparing the investment’s return to a benchmark, standard deviation compares an investment’s
individual returns (for example, the closing price each day) over a specific period relative to its
average return over the same period. The more individual returns deviate from the investment’s
average return, the higher the standard deviation.

An investment with a standard deviation of 16.5 is more volatile than an investment with a
standard deviation of 12.0. According to Morningstar Ratings, the standard deviation for the
S&P 500 has been 18.8 for the last five years.

5. Sharpe Ratio
Developed by Dr. William Sharpe, professor at the Stanford Graduate School of Business and
one of the recipients of the Nobel Prize for his contribution to the capital asset pricing model, the
Sharpe volatility ratio is a measure of a portfolio’s return versus a risk-free return. The risk-free
return most often used is the interest rate on a three-month U.S. Treasury bill.

The underlying premise is that an investor should receive a higher return if he assumes more
volatility in his portfolio. Theoretically, the higher the ratio, the stronger the portfolio’s return
has been relative to the risk taken. A ratio of 1.0 indicates that the return was what should be
expected for the risk taken, a ratio greater than 1.0 is an indication that the rate was better than
expected, and less than 1.0 is an indication that the return did not justify the risk taken.
Refinements of return to volatility ratios include the Sortino ratio, the Treynor ratio, and the
Modigliani risk adjustment performance measure (RAP).

6. Capture Ratios
Capture ratios, or the percent of broad market moves over a specified term reflected in a
portfolio, are intended to be a simpler way to reflect a portfolio manager’s performance. For
example, if the S&P 500 has moved upward 20% while the portfolio being managed has
increased 25%, the portfolio has captured more gains than the market move and would have a
ratio of 1.25 (25%/20%), an upside capture ratio. If the market falls by 20% and the portfolio
drops 25%, the downside capture ratio would also be 1.25, indicating that the portfolio has
underperformed the market for the period. Generally, investors would prefer a fund with an
upside capture ratio in rising markets greater than 1.0 and a downside capture ratio less than 1.0.

7. Independent Ratings
Companies such as Lipper and Morningstar have proprietary rating systems to rate mutual funds
on a risk-adjusted performance basis. Morningstar uses stars and gives a five-star rating to the
top 10% of funds within a fund category. Lipper provides a variety of different ratings depending
upon the investor’s goal – total return, consistent return, and others. There are a variety of other
proprietary ranking services in common use as well, such as Zacks (used by Yahoo! Finance)
and The Street. Credit rating services such as Standard & Poor’s and Moody’s analyze and rank
companies on their creditworthiness.
 CHAPTER-2
COMPANY PROFOLE

Introduction
Introduction to Bajaj Capital ®

Bajaj Capital Ltd is the flagship company of the Bajaj Capital group.Bajaj Capital Limited
("Bajaj Capital") is India's premier "Investment Services" Company, with over 50 years of
experience in helping people protect and grow their wealth. We've helped to create more
millionaires than any other firm in India. But it is our deep personal relationships with clients
that truly set us apart.

No other firm can match the depth of our experience and our dedication to personal service. The
markets may fluctuate, but our dependability never does.

Bajaj Capital has been granted the Certificate of Registration (“CoR”) by the Securities and
Exchange Board of India (“SEBI”) to carry on the business of Merchant Bankers (Cat-I)
[INM000010544]; Underwriter [INU000001132]; Stock Broker, as Trading Member of BSE Ltd
(Cash Segment) [INZ000007732]; Depository Participant of NSDL [IN-DP-NSDL-267-2006].
Further, Bajaj Capital has been granted the CoR by AMFI [ARN 0010], to carry on the business
of distribution of mutual funds and has also been granted the CoR [Regn.No.03310 (currently
under renewal) to act as Point of Presence (“PoP”) by the Pension Fund Regulatory Authority for
the NPS Schemes.

360 Degree Financial Assessment Tool

Our proprietary 360° Financial Assessment Tool is a unique scientific method that takes an all-
round view of investments using 3 steps:

i) Need Analysis:
"Know Your Client" principle is at the heart of our business. We believe that we need
to know our client's risk profile, basic financial situation, to help them the right
selection of the products/schemes.

ii) Scheme Selection:

We will use our best judgment and ability to present you with the best of the breed
investment schemes to choose from.
iii) Efficient Execution:
Our service really begins when you have completed your first transaction through us.
Our aim is to be continuously be in touch with you with new offerings.

Bajaj Capital is a distributor of financial products and is remunerated by the product

providers. Bajaj Capital is not an Investment Adviser or a Financial Planner.

iv) Incredible Range of Financial Products:

As distributors of financial products, we are truly unbiased in scheme selection and
help you in efficient execution of your transactions.
 v) Hassle-free administration:
We Provide timely updates, regular portfolio reviews and 24x7 online call centre
support to keep your investments on track.
vi) Pan-India presence:
With over 120 offices in 70 cities across India, we strive to maintain a consistency in
relationship and experience. So, if you happen to relocate, there will be a nearby
Bajaj Capital office having same standards of services.

Milestones
Bajaj Capital Group – Journey so far
Bajaj Capital is among the pioneers in investment services industry in India. For nearly five
decades now, Bajaj Capital has been serving Indian investors realizing their aspirations by
helping them create wealth and giving shape to the vision of its founder-chairman, Mr. K.K.
Bajaj.

Bajaj Capital has contributed to the growth of the Indian Capital Market at every step. In 1965,
we were the first to innovate the Companies Fixed Deposit. Today, we are playing an active role
in the growth of the Indian Mutual Fund industry.

Here is a glimpse of our journey through the years.

1964

Bajaj Capital sets up its first Investment Centre® in New Delhi to guide individual investors on
where, when and how to invest.
India's first Mutual Fund, Unit Trust of India (UTI) was incorporated in the same year.

1965

Bajaj Capital is incorporated as a Company. In the same year, the company introduces an
innovative financial instrument – the Company Fixed Deposit. EIL Ltd. (Oberoi Hotels, then
known as Associated Hotels of India Ltd.) becomes the first company to raise resources through
Company Fixed Deposits.
Bajaj Capital sets up its first Investment Centre® in New Delhi to guide individual investors on
where, when and how to invest.
India's first Mutual Fund, Unit Trust of India (UTI) was incorporated in the same year

1966

Bajaj Capital expands its product range to include all UTI schemes and Government Saving
Schemes in addition to Company Fixed Deposits.

1969

Bajaj Capital manages its first Equity issue (through an associate company) of Grauer & Wells
India Ltd.; right from drafting the prospectus to marketing the issue.

1975

Bajaj Capital starts offering 'need-based' investment solutions to its clients, which today is
popularly known as 'Financial Planning' in the investment world.

1981

SAIL becomes the first Government Company to accept public deposits, followed by IOC,
BHEL, BPCL, HPCL and others; thus opening the floodgates for growth of retail investment
market in India.

Bajaj Capital plays an active role in all the schemes as 'Principal Brokers'

1986

Public Sector Undertakings (PSUs) begin making public issues of bonds. MTNL, NHPC, IRFC
offer a series of Bond Issues. Bajaj Capital is among the top ranks of resource mobilisers.

1987

SBI leads the launch of Public Sector Mutual Funds in India. Bajaj Capital plays a significant
role in fund mobilisation for all these players.

1991

SBI issues India Development Bonds for NRIs. Bajaj Capital becomes the top mobiliser with
collections of over US $20 million.
 1993

The first private sector Mutual Fund – Kothari Pioneer – is launched, followed by Birla and
Alliance in the following years. Bajaj Capital plays an active role and is ranked among the top
mobilisers for all their schemes.

1995

IDBI and ICICI begin issuing their series of Bonds for retail investors. Bajaj Capital is the co-
manager in all these offerings and consistently ranked among the top five mobilisers on an all-
India basis.

1997

Private sector players lead the revival of Mutual Funds in India through Open-ended Debt
schemes. Bajaj Capital consolidates its position as India's largest retail distributor of Mutual
Funds.

1999

Bajaj Capital begins marketing Life and General Insurance products of LIC and GIC (through
associate firms) in anticipation of opening up of the Insurance Sector. Bajaj Capital achieves the
milestone of becoming the top 'Pension Scheme' seller in India and launches marketing of GIC's
Health Insurance schemes.

2000

Bajaj Capital implements its vision of being a 'One-stop Financial Supermarket.' The Company
offered all kinds of financial products, through its Investment Centers. Bajaj Capital offers 'full-
service merchant banking' including structuring, management and marketing of Capital issues.
Bajaj Capital reinvents 'Financial Planning' in its international sense and upgrades its entire team
of Investment Experts into Financial Planners.

2002

The Company focuses on creating investor awareness for proper Financial Planning and need-
based investing. To achieve this goal, the International College of Financial Planning, was set up
to impart education in Financial Planning. The graduates of this institute become Certified
Financial Planners (CFPs), a coveted professional qualification.

2004
Bajaj Capital obtains the All India Insurance Broking Licence. Simultaneously, a series of wealth
creation seminars are launched all over the country, making Bajaj Capital a household name.

2005

Bajaj Capital launches its software-based programme aimed at encouraging scientific and
holistic investing.

2007

Bajaj Capital launches Stock Broking and Depository (Demat) Services (in one of its group
company).

2008
2004

Bajaj Capital obtains the All India Insurance Broking Licence. Simultaneously, a series of wealth
creation seminars are launched all over the country, making Bajaj Capital a household name.

2005

Bajaj Capital launches its software-based programme aimed at encouraging scientific and
holistic investing.

2007

Bajaj Capital launches Stock Broking and Depository (Demat) Services (in one of its group
company).

2008

Bajaj Capital launches Just Trade®, an online Platform for investing in Equities, Mutual Funds,
IPO's

Our Mission
Our Mission, Aims & Objectives
Our Promise
We promise to provide our clients - research based, unbiased, independent and need based
services/advice with honest and ethical dealings.

Our Mission
Provide need based solutions at the right value, gaining lifetime client relationships through a
happy team & service excellence.

Our Vision
India’s most admired & recommended wealth creation & protection brand.

our logo

Our logo depicts Lord Ganesha who is the source of all our values and ethics in business.

The large ears of Lord Ganesha remind us to hear more. We listen carefully to our clients
to understand their needs.

The weight of the trunk on the mouth symbolises silence. We work silently, without
blowing our own trumpet.

The long trunk symbolises continuous exploration. We explore all avenues to provide the
best investment opportunities for our clients.

The heavy posture of Ganesha symbolises stability. We help our clients to attain financial
stability through wise investments.


 Lord Ganesha is known as the remover of obstacles and bestower of prosperity. We
emulate His example and try our best to help our clients attain prosperity by proper need
analysis, scheme selection and efficient execution..

Our logo has a yellow background. Yellow is the colour of gold, which symbolises
wealth. According to Vedic lore, it is also the colour associated with Brihaspati, the guru
and counsellor of the Gods. We offer our clients sage counsel to make their wealth grow.

The letters are in red colour – symbolising power and incessant activity. It symbolises our
aggressive quest for your well-being and happiness.

The white streak represents the trunk of Lord Ganesha. White is the colour of satva guna,
and implies our selfless commitment to your life-long happiness.

.
 CHAPTER-3
OBJECTIVE AND SCOPE

Research Methodology
Objectives of the study
  To know the preferences for the portfolios.
 Awareness about mutual fund.
 To find out the most preferred channel.
 To find out what should do to boost mutual fund industry.

Scope of the study

A big boom has been witnessed in mutual fund industry in recent times. A large number of new
players have entered the market and trying to gain market share in this rapidly improving
market.

The research was carried on in Ludhiana. I had been sent at one of the bench of Bajaj Capital
Ludhiana where I completed my project work. I surveyed on my project topic, “A study of
preference of the investment in mutual fund on the visiting customers of the Bajaj Capital.

The study will help to know the preferences of the customer, which company, Portfolio, mode
of investment, option for getting return and so on they prefer. This project report may help the
company to make further planning and strategy.
 CHAPTER-4
RESEARCH METHDOLOGY

Research Methodology
This report is based on primary as well as secondary data, however primary data collection was
given more important since it is overhearing factor in attitude studies. One of the most
important users of research methodology is that it help s in identifying the problem collection,
analyzing the required information data and providing an alternative solution to the problem. It
also helps in collecting the vital information that is required by the top management to assist
them for the better decision and critical ones.
Duration of study- The study was carried out for a period of 45 days from 1 july to 15 th Augest
2017.

Research Design:-
A research design is plan that specifies the objectives of the study, method to be adopted
in the collection of the data, tools in analysis of data and helpful to frame hypothesis. “A
research design is the arrangement of condition for collection and analysis of data in a manner
that aims to combine relevance to research purpose with economy in procedure”.

Research design is needed because it facilitates the smooth sailing of the various project
operation thereby making the project as efficient as possible yielding maximal information with
minimal expenditure of effort time and money. Also it minimizes bias and maximizes the
reliability of the data collected.

Nature And Source of Data:-

Secondary Data:- The data which have already been collected and analyzed by someone
else is called secondary data.

The secondary data was used mainly to support primary data.

Company profile, websites, magazines, articles were used widely.

Size of sample - A sample of 5 scheme each from 5 different types of funds is being taken.

Types of funds taken are follows.

 Diversified funds
 Large cap funds
 Mid cap funds
 Small cap funds
 Sector funds

Sample Design:- When population elements are selected for inclusion in the sample based
on the case of access, it is called convenience sampling method for the convenience of the
researcher.

Statistical tools used:-

To arrange and interpret the collected data the following statistical tools were used.

Analysis has been done by using following statistical tools.

 Sharp Ratio:- It indicates the risk return performance of portfolio.

 Beta:- it measures the volatility, or systematic risk, of a security or a portfolio in
comparison to the market as a whole.
 Standard Deviation:- It shows the historical volatility.
 Annualized Return:- It indicates the return on return over the period of times.

Limitations:-

 Some of the persons were not so responsive.

 Possibility of error in data collection because many of investors may have not given
actual answers of my questionnaire.
 Some respondents were reluctant to divulge personal information which affect the
validity of all responses.
 CHAPTER-5
CASE STUDY
DATA ANALYSIS AND
INTERPRETATION

Case Study of Reliance Mutual fund Company

 Reliance Mutual Fund:-

Reliance mutual fund is India’s leading mutual fund with quarter Average Assets Under
Management(AAUM) of Rs 102066 crores.

Reliance mutual fund, a part of the Reliance- Anil Dhirubhai Ambani Group, is one of the
fastest growing mutual fund in the country, RMF offers investors a well rounded portfolio of
products to meet varying investor requirement and has presence in 159 Lities across the
country. Reliance mutual fund constantly endeavors to launch innovative products and
customer service initiatives to increase value of investors. “Reliance mutual fund scheme
are managed by Reliance capital Asset management limited,9 subsidiary of Reliance Capital
limited, which holds 93.37% of the paid up Capital of RCAM. The scheme that I have taken
for analysis from Reliance mutual fund are:-

 Reliance Baking fund (G)[under sector fund]:- The primary investment objectives of
the scheme is to seek to generate continuous return by actively investing in equity and
equity related or fixed income securities of companies in the banking sector.

Fund overview

Fund types open ended

Investment plan Growth

Assets sizes Rs 1466 crores

Launches date May21,2003

Benchmark Bank Nifty

Fund Manager Mr.Sunil Singhania

 Reliance Vision(G)[under large cap fund]:-

Seeks to provides long term capital appreciation by primarily investing in growth
oriented stocks.

Fund overview

Fund types Open ended

 Investment plan Growth
Assets Sizes Rs 61 crores
Launches date Augest,8,2007
Benchmark BSE 100
Fund Manager Mr.Ashwani Kumar

Data Analysis And Interpretation

1.(a) Age distribution of the investors?

Age group <=30 31-35 36-40 41-45 46-50 >50

No. of 12 10 30 20 15 13
investors
 35

30

25

20
Column1
15 Column2
Column3
10

0
<=30 31-35 36-40 41-45 46-50 >50

Interpretation :- According to this chart out of 100 mutual fund investors of most are in the age
group of 36-40 yrs, the second most investors are in the age group of 41-45yr and the least
investors are in the group of below 30 yrs.

(b) Educational qualification of investors?

Educational Qualification No. of investors

Graduate/ post graduate 70
Under graduate 24
Others 6
Total 100
 No.of investors

6%

Graduate/post graduate
24% under graduate
Others

70%

Interpretation:- Out of 100 mutual fund investor 70% of the investors are graduate/post
graduate and24% are under graduate & 6% are other.

(c) Monthly family income of the investors?

Income Group No. of investors

<=10,000 12
10,001-15,000 8
15,001-20,000 25
20,001-25,000 45
>30,000 10

Income group of investors

Interpretation – In the income group of investor, out of 100 investors, 45% investors that the
monthly income group Rs 20,001 to 25000 and second one i.e,25% investors, are in the
monthly income group of more than Rs 30,000 and the minimum investors12% are in the
monthly income group of below Rs 10,000.

2.Investors invested in different kind of investment?

Kind of investment No. of

REspondent
 Saving A/c 175 95
Fixed deposits 152 82
Insurance 140 75
Mutual fund 120 60
Post office 80 50
Share/Debenture 50 20
Gold/ Silver 30 65

mutual fund

Insurance

Series3
Series2
No.Of respondent
Fixed deposits

Saving A/c

0 20 40 60 80 100 120 140 160 180 200

Interpretation:- From the above graph it can be inferred that out of 100 people,95% people
have invested in saving a/c, 75% in insurance, 82% in fixed deposits, 60% in mutual fund, 50%
in post office, 20% in share and debentures,65% in gold/ silver.

 Preference of factors while investing?

Factors Liquidity Low Risk High Return Trust

No. of 20 30 35 15
respondents
 No.of respondent
Liquidity Low risk High return trust

15%
20%

35%
30%

Interpretation:- Out of 100 people,35% people prefer to invest where there is high return, 30%
prefer to invest where there is low risk, 20% prefer easy liquidity and prefer trust.

 Awareness about mutual fund and its operation to the Respondents?

Response Yes No
No. of respondents 65 35

No. of respondent

No
35%

yes
65%
 Interpretation:- From the above charts it is inferred that 65% people are aware of
mutual funds and its operations and 35% are not aware of mutual fund and its
operation.

 Source of information for customer about mutual fund?

Source of information No. of respondents

Advertisement 10
Peer group 15
Bank 25
Financial Advisor 50

No. of respondents
Advertisement
10%

peer group
15%
Financial Advisor
50%

Bank
25%

Interpretation:- From the above chart it can be inferred that the financial advisor is the
most important source of information about mutual fund. Out of 100 Respondents,50%
know about mutual fund through financial advisor,25% through bank, 15% through peer
group and 10% through advertisement.

 Investors invested in mutual fund?

Response No. of respondents

Yes 60
No 40
 No; 40

Yes; 60

Interpretation- Out of 100 people 60% have invested in mutual fund and 40% do not have
invested in mutual fund.

 Reason for not invested in mutual fund?

Reason No. of Respondents

No Aware 85
Higher risk 10
Not any specific reason 5

No. of respondents
Not any specific reason
5%
Higher risk
10%

No aware
85%
Interpretation- Out of 100 people, who have not invested in mutual fund, 75%are not aware of
mutual fund, 20% said there is likely to be higher risk and 5% do not have any specific reason.

 Investors invest in different Assets Management Company?

Name of AMC No. of investors

SBI MF 15
HDFC 10
Reliance 30
ICICI prudential 20
Others 25

35

30

25

20
Series1
Series2
15 Series3

10

0
SBI MF HDFC Reliance ICICI

Interpretation- In Ludhiana most of investors preferred Reliance mutual fund, Out pf 100
investors. 25% have invested in each of them, only 15% invested in SBI MF, 20% in ICICI
prudential, and 10% in HDFC.

 Preference of investors for fiture investment in mutual fund?

Name Of AMC No. of investors

SBI MF 38
HDFC 18
Reliance 41
 ICICI prudential 32
Others 37

60

50

40

30

20

10

0
SBI MF HDFC Reliance ICICI prudential

Interpretation- In the future time, the 50% of investors want to be invest in the Reliance
mutual fund, 48% in ICICI prudential, 45% in SBI MF,42% in others and 25% in HDFC mutual
fund.

 Mode of investment preferred by the investors?

Mode of investment One time investment Systematic investment plan

No. of response 68 32

Interpretation- Out of the 100 investors,65% preferred one time investment and 35% preferred
through Systematic Investment Plan.

 Preferred portfolios by the investors?

Portfolio No. of investors

Equity 50
Debt 20
Balanced 30
 Chart Title

30%
Equity
Debt
Balanced
50%

20%

Interpretation- From the above graph 50% preferred equity portfolio, 30%
preferred balanced and 20% preferred debt portfolio.

 Option for getting return preferred by the investors?

Option Dividend Payout Dividend Growth

Reinvestment
No. of respondents 23 09 68
 No. of respondend

23%

Dividend payout
Dividend Reinvestment
Growth

9%

68%

Interpretation- From the above graph 68%preferred growth option, 23%

preferred dividend payout and 9% preferred dividend re-investment option.

 Preference of investors whether to invest in sector funds?

Response No. of respondents

yes 25
No 75
 No.of investors

Yes
25%

No
75%

Interpretation- Out of 100 investors, 75% investors do not prefer to invest in sector
fund because there is maximum risk and 25% prefer to invest in sector fund.
 CHAPTER-6
FINDING AND CONCLUSIONS
 Finding

 In Ludhiana in the age group of 36-40 years were more in number. The years were most
investors were in the age group of 41-45 years and the least were in the age group of
below 30 years.
 In Ludhiana most of the investors were graduate or post graduate and below HSC there
were very few in number.
 In family income group, between Rs.20,001-25,000 were more in number, the second
most were in the income group of more than Rs30,000 and the least were in the group
of below Rs10,000.
 About all the respondents had a saving A/C in bank is 95%, 76% invested in fixed
deposits, only 60% respondents invested in mutual fund.
 Mostly respondents preferred high return while investment, the second most preferred
low risk then liquidity and the least preferred trust.
 Only 65% respondents were aware about mutual fund and its operations and 35% were
not.
 Among 100respondents only 60% had invested in mutual fund and 40% did not have
invested in mutual fund.
 Out of 100 respondents, 85% were not aware of mutual fund, 5%told there is not any
specific reason for not invest in mutual fund and 10% told there is likely to be higher risk
in mutual fund.
 50% investors preferred to invest through financial advisors, 25% through AMC(direct
investment) and 25% through bank.
  68% preferred one time investment and 32% preferred SIP out of both type of mode of
investments.
 The most preferred portfolio was equity, the second most was balance and the least
preferred portfolio was debt portfolio.

Conclusion
Running a successful mutual fund requires complete understanding of the peculiarities of the
Indian stock market and also the psyche of the small investors. This study has made an attempt
to understand the financial behavior of mutual fund investors in connections with the
preferences of brand(AMC), products, channels etc. I observed that many of people have fear
of mutual fund they think their money will not be secure in mutual fund. They need the
knowledge of mutual fund and its related terms. Many of people do not have invested in
mutual fund due to lack of awareness although they have money to invest. As the awareness
and income is growing the number of mutual fund investors are also growing.

Brand play important role for the investment. People invest in those companies where they
have faith or they are well known with them. Some AMCs are not performing well although
some of the schemes of them are giving good return because of not awareness about brand.
Reliance, UTI, ICICI prudential etc. They are performing well and their assets under
management is large than other whose brand name are not well known like principle etc.

Distribution channels are also important for the investment in mutual fund. Financial
Advisors are the most preferred channels for the investment in mutual fund. They can change
investors mind from one investment option to others. Only those people invest directly who
know well about mutual fund and its operations and those have time.
 CHAPTER -7
SUGGESTION AND
RECOMMENDATION
 The most vital problem spotted is of ignorance. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convinced. Investors should be
made to realize that ignorance is no longer bliss and what they are losing by not
investing.
 Mutual funds offers a lot of benefits which no other singer option could offers .But
most of the people are not even aware of what actually a mutual fund is ? They only
see it as just another investment option. So the advisors should try to change their
mindsets. The advisors should target for more and more young investors as well as
persons at the height of their career would like to go for advisors due to lack of
expense and time.
 Mutual fund company needs to give the training of the individual financial advisors
about the fund/scheme and its objective, because they are the main source to
influence the investors.
 Before making any investment financial advisors should first enquire about the
tolerance of the investors/customers ,their needs and times( how long they want to
invest).By considering these three things they can take the customers into
consideration.
 Young people aged under 35 will be a key new customer group into the future, So
making greater efforts with younger customers who show. Some interest in vesting
should pay off.
 Customers with graduate level education are easier to sell to and there is a large
untapped market there. To succeed however, advice and high quality.
 Systematic investment plan (SIP) is one the innovative products launched by assets
management company very recently in the industry. SIP is easy for monthly salaried
person as it provides the facility of do the investment in EMI. Though most of the
prospects and potential investors are not aware about the SIP. There is a large scope
for the companies to tap the salaried person.
 BIBLIOGRAPHY

 Newspaper
 Company website – www.bajajcapital.com
 www.moneycontrol.com
 www.mutualfundsindia.com
 www.yahoofinance.com
Questionnaire
A study of preference of the investors for investment in mutual funds.

1. Personal Detail

(a) Name-:
(b) Address-: Phone-:
(c) Age-:
(d) Qualification-:

Graduation/PG Under Graduate Other

(e) Occupation-:

Govt. Sector Private Sector Business Agriculture Other

(f) What is your monthly family income approximately ?

Rs 10,000 15,000 20,000 30,000 And above

2. What kind of investment you have made so far ?

Saving account Fixed deposits Insurance

Mutual fund Post office NSC Gold/ Silver
Real estate

3. While investing your money, which factor will you prefer ?

 Liquidity Low risk High return Trust

4. Are you aware about mutual funds and their operation?

(a) Yes
(b) No
5. If yes, how did you know about mutual fund?
(a) Advertisement (d) Financial Advisors
(b) Bank
(c) Peer group
6. Have you ever invested in mutual fund?
(a) Yes
(b) No
7. If not invested in mutual fund then why?
(a) Not aware of mutual fund
(b) Higher risk
(c) Not any specific reason
8. If Yes, in which fund you have invested?

SBIMF UTI HDFC Reliance Other specify

9. Which channel will you prefer while investing in mutual fund?

Financial Advisor Bank AMC

10. When you invest in mutual funds which mode of investment will you prefer?
(a) One time investment
(b) Systematic Investment Plan(SIP)
11. When you want o invest which type of funds would you choose?

Having only debt portfolio Having debt & equity Only equity portfolio
portfolio
12. How would you like to receive the returns every year?
(a) Dividend payout
(b) Dividend re- investment
(c) Growth in NAV
13. Instead of general mutual funds, would you like to invest in sectional funds?
(a) Yes
(b) No