a study on hdfc mutual fund
TRANSCRIPT
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DECLARATION
I, Badami Kalpesh D.a student of MBA semester iii, here by declare thatthe project
work presented in this report is my contribution and has been carried out under
superision of DI!"#$%! DR.R.S.SHAH of GIDC RAJJU SHROFF
INSTITUTE OF MANAGEMENT STUDIES.
$he objectie of the trainin& undertaken is to &et speciali'ed knowled&e in the
speciali'ed field, which further sharpen the skill and add practicality in the
speciali'ation. $his work has not been preiously submitted to any other uniersity
for any other e(amination
DA$") * SIGNATURE "#tue$t+
BADAMI KA-"/ D.
-A#") * SIGNATURE "%uie&
D!.!../A/
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PREFACE
"(perience is the best teacher.2 $his sayin& is ery well applicable in eeryone3s life.
$herefore as a student of mana&ement it must apply to me also. $hen the 4uestion
arises that from where we can &et this e(perience. %biously we must under&o
practical $rainin&. $o sere this purpose I had under&one two months summer trainin&
at /D5# assets Mana&ement #ompany limited and as an outcome I hae prepared
this project report.
$his project report on mutual fund awareness in retail inestors of /D5# assetsMana&ement #ompany in urat2 is as per syllabus prescribed by 6eer 7armad south
8ujarat 9niersity for MBA students. $his project also deals with arious actiities of
/D5# assets Mana&ement #ompany limited. $he e(perience of this trainin& will be
useful in my future and findin&s of this particular project will be /elpful to take
decision re&ardin& to marketin& and adertisin& of mutual fund schemes $o /D5#
assets Mana&ement #ompany limited.
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ACKNOWLEDGEMENT
5irst of all, I would like to e(press my sincere &ratitude to Mr. !ajan Mehta, Branch
mana&er of /D5# assets Mana&ement #ompany limited, urat branch for allowin&
me for summer trainin& at /D5# assets Mana&ement #ompany limited.
I heartily feel thanks to Mr. -iyush lal, sales e(ecutie who proided me aluable
su&&estions and &uidance at eery sta&e of my summer trainin&.
I would also like to e(press my &ratitude to Mr. !.s.shah, my project mentor and other
faculty members of 8ID# !A;;9 /!%55 !%5" I7$I$9$" %5
MA7A8"M"7$ $9DI", api for &uide me.
I would like to thank followin& persons who help me a lot in my summer trainin&.
Mr. 8aura maheshwari, /D5# assets Mana&ement #ompany limited
Mr. -inkal shah, /D5# assets Mana&ement #ompany limited.
Mr. #hintan patel, /D5# assets Mana&ement #ompany limited.
Mr. !itesh jariwala, /D5# assets Mana&ement #ompany limited.
Mr. 9tkrash &heewala, /D5# bank, -arle point branch
Mr. 7ilesh patel, /D5# bank, -arle point branch.
Mr. Mitesh sampat, /D5# bank, -arle point branch.
I also thank to respondents, who hae been helpful and faithful enou&h to &ie the
re4uired information, which helped my project to be a &reat success, which was the
main and important part of my project. I feel happy indeed and it has &ien me a lot of
pleasure in company.
ast but not the least I would like to e(tent my deep sense of &ratitude to my family,
friends and all whom &uided and helped me durin& my trainin& period.
-lace) * urat. Badami Kalpesh. B.
Date) *
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EXECUTIVESUMMARY
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Executive Summary
$he entire report is an unfor&ettable journey of support, knowled&e, e(perience,
dedication, perfection, and patience. 5or me it is all about to understand a customer
and market of mutual fund industry.
$he report is specially oriented to particular area, thou&h it is representin& the stron&
base of Inestment mana&ement*which coers different inestment aenues, their
handlin& contribution, strate&y, portfolios, and related risk factors. Mutual funds* how
they are formed, history, scenario, types, trends, myths, distribution, adanta&es, and
een disadanta&es of them.
$ips to effectiely sell the mutual funds, to be effectie a&ent, some do3s and don3ts
about mutual funds while inestin&. #ompany details and its pro&ress and its
interpretation base for analysis, conclusion, findin&s, and 4uestionnaire, which helped
a lot in consumer, surey analysis. Asset allocation, accountin&, ta(ation, aluation
and necessary information for &eneratin& base for conclusion. And at last but not the
least the collected data from city and their interpretation.
In short all efforts which was made to make this report e(plains
WORK IS WORSHIP
CONTENTS
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r. 7o. 7ame of $able -a&e 7o.
1 %bjecties of tudy @
0 imitations of study
: "(ecutie summary
? #ompany details 11
About the #ompany 10
ponsors of /D5# Assets Mana&ement
#ompany1:
Mana&ement of /D5# Assets Mana&ement
#ompany1?
%ffices of /D5# assets mana&ement company
limited1>
@ -roduct details 0?
5uture scenario :0
> Industry details ::
Introduction :?
/istory of Mutual 5und Industry :
#ustomers -rofile of mutual fund industry ?=
-ositionin& trate&y of mutual fund industry?1
-romotional $ools "mployed by arious mutual
fund companies?0
5acts About Mutual 5und ?@
Mutual fund ?
Introduction to Mutual 5und ?>
Mutual 5und #ycle ?
1: !esearch >1
-urpose of the !esearch >0
!esearch %bjectie >:1? !esearch Methodolo&y >?
>
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!esearch Desi&n >@
ources of Data >
amplin& -lan >
Data #ollection Method =
1@ Data analysis and findin&s 1
1 5indin&s imitations
0: ist of 8raphs 1=
0? Biblio&raphy 1= cores. May 0==>.+
Sponsors of HDFC Assets Management Company:-
Housing Development Finance Corporation Limited (HDFC)
/D5# was incorporated in 1> as the first speciali'ed Mort&a&e #ompany in India.
/D5# proides financial assistance to indiiduals, corporates and deelopers for the
purchase or construction of residential housin&. It also proides property related
serices e.&. property identification, sales serices and aluation+, trainin& andconsultancy. %f these actiities, housin& finance remains the dominant actiity. /D5#
has a client base of around
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ession in cotland approed this in ;une and tandard ife plc floated on the ondon
tock "(chan&e on 1= ;uly 0==. tandard ife Inestments was launched as an
inestment mana&ement company in 1
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/.$. -arekh Mar&, [email protected] crore.
$he present share holdin& pattern of the /D5# Assets mana&ement company is as
follows)
-articularsH of the paid up share
capital
/D5# @=.1=
tandard ife Inestments
imited?
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In 8ujarat /D5# assets Mana&ement #ompany is located at Ahmadabad,
urat, adodara, !ajkot.
/D5# assets Mana&ement #ompany is workin& from
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O%%ice& o% HDFC ASSETS MANAGEMENT
COM'AN( )IMITED
I76"$%! "!6I#" #"7$!"J
%55I#IA -%I7$ %5 A##"-$A7#" 5%! /D5# M9$9A
597D
!"8I$"!"D
%55I#"
/D5# Mutual 5und * Mumbai
!amon /ouse, :rd 5loor,
/.$ -arekh Mar&, 1, 0nd 5loor,
aphire 4uare, omaji&uda,
/yderabad * @==00.
"mail)sericeshyderabadLhdfcfund.com
/D5# Mutual 5und * 6isakhapatnam
8round 5loor, ai&opal Arcade,
%pp Caltair #lub,
Caltair Main !oad, iripuram,
6isakhapatnam * @:===:.
"mail)sericesi'a&Lhdfcfund.com
Bihar /D5# Mutual 5und * -atna
1?
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!ani -la'a Apartment,
-atna *!ay #linic+,
"(hibition !oad,
-atna * ====1.
"mail)sericespatnaLhdfcfund.com
7ew Delhi
/D5# Mutual 5und * 7ew Delhi
?th 5loor, Mohan De Bld&., 1:,
$olstoy Mar&, #onnau&ht -lace,
7ew Delhi * 11===1.
"mail)sericesdelhiLhdfcfund.com
8oa
/D5# Mutual 5und * 8oa
A:, 5irst 5loor, Krishna Buildin&,%pp. "ducation Dept,
Behind usheela Buildin&, 8.-. !oad,
-anaji * ?=:==1.
"mail)serices&oaLhdfcfund.com
8ujarat /D5# Mutual 5und * Ahmadabad
0nd 5loor, Me&ha /ouse,
Besides 8ruh /ouse,
Mithakhali i( !oads,
Ahmedabad * :===
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9pper 8round 5loor, 8okulesh,
! # Dutt !oad,
6adodara * :.
"mail)sericesadodaraLhdfcfund.com
;harkhand
/D5# Mutual 5und N ;amshedpur
8ayatri "nclae,
0nd 5loor, OK !oadO,
Bistupur,
;amshedpur * :1==1.
"mail)sericesjamshedpurLhdfcfund.com
Karnataka
/D5# Mutual 5und N Ban&alore
7o.11?, 1st 5loor, -resti&e $owers,
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M1, M0 and M:, Me''anine 5loor,
terlin& Arcade,1@ J :, !ace #ourse !oad,
Indore * ?@0==1.
"mail)sericesindoreLhdfcfund.com
Maharashtra
/D5# Mutual 5und N Mumbai
Mistry Bhaan, 1st 5lr, 100,
Backbay !eclamation,
Dinsha 6achha !oad, #hurch&ate,
Mumbai * ?===0=.
"mail)sericesmumbaiLhdfcfund.com
/D5# Mutual 5und N 7a&pur
1=*11=, hriram hyam $owers,0nd 5loor, 7e(t to 7I$ Buildin&,
Kin&sway, adar,
7a&pur * ??===1.
"mail)sericesna&purLhdfcfund.com
/D5# Mutual 5und N 7ashik
8* 1 and 8*0, Ouyojit /ei&htsO,
%pp. !aji 8andhi Bhaan,
haranpur !oad,
7ashik * ?00==0.
"mail)sericesnashikLhdfcfund.com
/D5# Mutual 5und N -une
/D5# /ouse, 0nd 5loor,
hiaji 7a&ar, 9niersity !oad,
-une * ?11==@.
"mail)sericespuneLhdfcfund.com
%rissa
/D5# Mutual 5und N Bhubaneswar
0nd 5loor, 6inayak @1==1.
"mail)sericesbhubaneshwarLhdfcfund.com
-unjab /D5# Mutual 5und N #handi&arh
1>
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#% :>@*:>,
8round 5loor, ector :@*B,
#handi&arh * 1==00.
"mail)sericeschandi&arhLhdfcfund.com
/D5# Mutual 5und N udhiana
#% 100,
5ero'e 8andhi Market,
udhiana * 1?1==1.
"mail)sericesludhianaLhdfcfund.com
!ajasthan
/D5# Mutual 5und N ;aipur
Moondhra Bhaan,
: Ajmer !d,;aipur * :=0==1.
"mail)sericesjaipurLhdfcfund.com
/D5# Mutual 5und N ;odhpur
8ulab in&h Buildin&,
11, #hopasani !oad,
;odhpur * :?0==:.
"mail)sericesjodhpurLhdfcfund.com
$amil 7adu
/D5# Mutual 5und N #oimbatore
1:>1A, 8round 5loor,
7adar Buildin& $richy !oad,
#oimbatore * ?1=1.
"mail)sericescoimbatoreLhdfcfund.com
/D5# Mutual 5und N #hennai
I$# #entre, 1st 5loor,
>= Anna alai,
#hennai * ====0.
"mail)sericeschennaiLhdfcfund.com
9ttar -radesh /D5# Mutual 5und N Kanpur
1st 5loor, 1J= D,
Behind BI Main, #iil ines,
Kanpur * 0===1.
"mail)sericeskanpurLhdfcfund.com
1
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/D5# Mutual 5und N ucknow
? hahnajaf !oad,
ucknow * 00==1.
"mail)sericeslucknowLhdfcfund.com
Cest Ben&al
/D5# Mutual 5und N Kolkata
Menaka "state, 1st 5loor,
: !ed #ross -lace,
Kolkata * >====1.
"mail)sericeskolkataLhdfcfund.com
1
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(Fig no "- office locations of HDFC Assets Management Company)
0=
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PRODUCT
DETAILS
01
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'ro*uct Detai+&
#$%!& 'ALAC#D D#'!
(Fig no - Different !ypes of *roducts)
E'UITY SCHEMES OF HDFC ASSET MANAGEMENT
COMPANY()
1. HDFC Equity Fund:-
I$*e#tme$t Ob+e,ti*e( $he inestment objectie of the cheme
Is to achiee capital appreciation.
I$*e#tme$t O-ti$#) Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded 8rowth cheme
I$,e-ti$ D/te) * ;anuary =1, 1
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I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded 8rowth cheme
I$,e-ti$ D/te) *eptember 11, 0===
3. HDFC Top 200 fund:-
I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital
appreciation from a portfolio of e4uity and e4uity*linked instruments primarily drawn
from the companies in B" 0== inde(.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
4. HDFC mid cp! opportunity fund"-
I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital appreciation from a
portfolio that is substantially constituted of e4uity and e4uity related securities of
small and Mid*#ap companies.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme() %pen "nded 8rowth cheme
I$,e-ti$ D/te)* May =>, 0==>
#. HDFC cpit$ %ui$d!r fund:-
I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital appreciation from a
portfolio that is substantially constituted of e4uity and e4uity related securities of
small and Mid*#ap companies.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme() %pen "nded 8rowth cheme
I$,e-ti$ D/te)* 5ebruary =1, 1
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+,HDFC premier multicape fund:-
I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to &enerate
capital appreciation in the lon& term throu&h e4uity inestments by inestin& in a
diersified portfolio of Mid #ap and ar&e #ap Qblue chipQ companies.
I$*e#tme$t O-ti$#( Diidend -lan, 8rowth -lan, $he Diidend -lan offers
Diidend -ayout and !einestment 5acility.
N/tu0e 1 S,2eme( ) %pen "nded 8rowth cheme
I$,e-ti$ D/te) * April =, 0==@
'ALAC#D SCH#M#S F HDFC ASS#! MAA.#M#!CM*A&:-
", HDFC %$nc!d fund: -
I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to &enerate
capital appreciation alon& with current income from a combined portfolio of e4uity
and e4uity related and debt and money market instruments.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded balanced fund
I$,e-ti$ D/te( ) eptember 11, 0===
, HDFC prudence fund:-
I$*e#tme$t Ob+e,ti*e( )$he inestment objectie of the cheme is to proide
periodic returns and capital appreciation oer a lon& period of time, from a judicious
mi( of e4uity and debt inestments, with the aim to preentJ minimi'e any capital
erosion
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded balanced fund
I$,e-ti$ D/te( ) 5ebruary =1, 1
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I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the /D5# hort $erm -lan is
to &enerate re&ular income throu&h inestment in debt securities and money market
instruments.
I$*e#tme$t O-ti$#( 8rowth -lan, Diidend -lan. $he Diidend -lan offers
Diidend -ayout and !einestment 5acility.
N/tu0e 1 S,2eme() %pen "nded income fund
I$,e-ti$ D/te( ) 5ebruary 0, 0==0
4. HDFC mu$ti yi!$d fund:-
I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to &enerate
positie returns oer medium time frame with low risk of capital loss oer medium
time frame.
I$*e#tme$t O-ti$#( 8rowth -lan, Diidend -lan. $he Diidend -lan offers
Diidend -ayout and !einestment 5acility.
N/tu0e 1 S,2eme( ) %pen "nded income fund
I$,e-ti$ D/te( ) eptember 1>, 0==?
D#'! SCH#M#S F HDFC ASS#! MAA.#M#!CM*A& :-
", HDFC ncome Fund:-
I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to optimi'e
returns while maintainin& a balance of safety, yield and li4uidity.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded Income cheme
I$,e-ti$ D/te( ) eptember 11, 0===
, HDFC ncome Fund: -
0@
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I$*e#tme$t Ob+e,ti*e( )$he inestment objectie of /D5# /i&h Interest 5und
is to &enerate income by inestin& in a ran&e of debt and money market instruments
of arious maturity dates with a iew to ma(imi'in& income while maintainin& the
optimum balance of yield, safety and li4uidity.
I$*e#tme$t O-ti$#( Diidend and 8rowth %ption
N/tu0e 1 S,2eme( ) %pen "nded Income cheme
I$,e-ti$ D/te( ) April 0, 1
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I$*e#tme$t O-ti$#( 8rowth -lan, Euarterly Diidend %ption, Monthly
Diidend %ption. $he Diidend -lan offers Diidend -ayout and !einestment
5acility.
N/tu0e 1 S,2eme( ) An open*ended income scheme. Monthly income is not
assured and is subject to aailability of distributable surplus
I$,e-ti$ D/te( ) December 0, 0==:
2, HDFC Floating 3ate ncome Fund Long !erm *lan:-
I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to &enerate
re&ular income throu&h inestment in a portfolio comprisin& substantially of floatin&
rate debt J money market instruments, fi(ed rate debt J money market instruments
swapped for floatin& rate returns, and fi(ed rate debt securities and money market
instruments.
I$*e#tme$t O-ti$#(Diidend -lan, 8rowth -lan. $he Diidend -lan offers
!einestment 5acility only
N/tu0e 1 S,2eme( ) An open*ended income scheme.
I$,e-ti$ D/te( ) ;anuary 1, 0==:
0>
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FUTURE
SCENARIO
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FUTURE SCENARIO
$he asset base will continue to &row at an annual rate of about :@ to ?=H
oer the ne(t fie year as inestor3s shift their assets from banks and other traditional
aenues. ome of the older public and priate sector players will either close shop or
be taken oer.
%ut of ten public players fie will sell out, close down or mer&e with stron&er player
in three to four years. In the priate sector this trend has already started with twomer&ers and one take oer. /ere too some of them will down their shutters in the near
future to come.
But this does not mean that there is no room for other players. $he
market will witness a flurry of new players enterin& the areas. $here will be a lar&e
no. of offers from arious asset mana&ement companies in the time to come, some bi&
names like -rinciple, BI, 5idelity, old mutual etc are lookin& at Indian marketseriously. %ne important reason for it is that most major players hae presence here
and hence these bi& names would hardly like to &et left behind.
$he mutual fund industry is awaitin& the introduction of deriaties in India as
this would enable it to hed&e its risk and this in turn would be reflected in its 7et
Asset 6alue 7A6+.
0
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"BI is workin& out the norms for enablin& the e(istin& mutual fund schemes
to trade in deriaties. Importantly, many market players hae called on the !e&ular
to initiate the process immediately, so that the mutual funds can implement the
chan&es that are re4uired to trade in Deriaties.
INDUSTRY
DETAILS
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I"tro*uctio"
A Mutual 5und is a trust that pools the sain&s of a number of inestors who
share a common financial &oal. $he money thus collected is inested by the fund
mana&er in different types of securities dependin& upon the objectie of the scheme.
$hese could ran&e from shares to debentures to money market instruments. $he
income earned throu&h these inestments and the capital appreciations reali'ed by the
scheme are shared by its unit holders in proportion to the number of units owned by
them. $hus a Mutual 5und is the most suitable inestment for the common man as it
offers an opportunity to inest in a diersified, professionally mana&ed portfolio at a
relatiely low cost.
Anybody with an inestible surplus of as little as a few thousand rupees can
inest in Mutual 5unds. "ach Mutual 5und scheme has a defined inestment objectie
and strate&y.
A Mutual 5und is the ideal inestment ehicle for today3s comple( and
modern financial scenario. Markets for e4uity shares, bonds and other fi(ed income
instruments, real estate, deriaties and other assets hae become mature and
information drien. -rice chan&es in these assets are drien by &lobal eents
occurrin& in faraway places. A typical indiidual is unlikely to hae the knowled&e,
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skills, inclination and time to keep track of eents, understand their implications and
act speedily. An indiidual also finds it difficult to keep track of ownership of his
assets, inestments, brokera&e dues and bank transactions etc.
A Mutual 5und is the answer to all these situations. It appoints professionally
4ualified and e(perienced staff that mana&es each of these functions on a full time
basis. $he lar&e pool of money collected in the fund allows it to hire such staff at a
ery low cost to each inestor.
In effect, the Mutual 5und ehicle e(ploits economies of scale in all three areas *
research, inestments and transaction processin&. Chile the concept of indiiduals
comin& toðer to inest money collectiely is not new, the mutual fund in present
form is a 0=thcentury phenomenon. In fact, mutual funds &ained popularity only after
the econd Corld Car. 8lobally, there are thousands of firms offerin& tens of
thousands of mutual funds with different inestment objecties. $oday, Mutual 5unds
collectiely mana&e almost as much as or more money as compared to banks.
Hi&tory o% Mutua+ Fu"* I"*u&try
$he mutual fund industry in India started in 1
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cheme 1+, -unjab
7ational Bank Mutual 5und Au&
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$he number of mutual fund houses went on increasin&, with many forei&n
mutual funds settin& up funds in India and also the industry has witnessed seeral
mer&ers and ac4uisitions. As at the end of ;anuary 0==:, there were :: mutual funds
with total assets of !s. 1, 01,=@ crores. $he 9nit $rust of India with !s.??, @?1
crores of assets under mana&ement was way ahead of other mutual funds.
Forth h'! (
inc! F!%rury 2003
In 5ebruary 0==:, followin& the repeal of the 9nit $rust of India Act 10 crores under : schemes.
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T2e %0/-2 i$i,/te# t2e %03t2 1 /##et# *e0 t2e
!e/0#.
(Fig no /, .ro4t0 of Asset ver !0e year)
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Cu#tme0# P01i4e 1 mutu/4 1u$ i$u#t0!()
(Fig no 1,!ype of Customer)
1. Chile you recommend a f inancial plan, you also need to understand the
needs and financial objecties of your customer alon& with his risk tolerance and his
e(pectations from the inestments.
0. /onest and strai&htforward adice is appreciated. /elp your customers make
the ri&ht choice
:. Adise your customers to start inestin& early and re&ularly to help them
optimi'e the benefits of the compoundin& rupee.
?. /elp your inestors with the procedures and paper work inoled in makin&
an inestment.
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$reat eery customer e(clusiely. A satisfied customer can &ie you increased business
throu&h resale and referrals of other prospectie customers
*ositioning Strategy of mutual fund industry:-
-ositionin& starts with a product. But positionin& is not what you do to a product.
-ositionin& is what you do to the mind of the prospect. $hat is, you position the
product in the mind of prospect. A company3s differentiatin& and positionin& strate&y
must chan&e as the product, market, and competitors chan&e oer time. . T2e0e
#2u4 be $ u$e0 -#iti$i$%5 *e0 -#iti$i$%5 ,$1u#e -#iti$i$% 0
ubt1u4 -#iti$i$%.
C0annel of Distri5ution:-
In "ery asset Mana&ement #ompany3s distribution channel played ery importantroles.
/ere assets mana&ement companies hae distributors like
#onsultants
A&ents
Distributors
Adisers
Broker
$heir role is ery important for Assets Mana&ement #ompany3s %ffice.
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*romotional !ools #mployed 5y various mutual fund
companies:-
ome specific other document help to increase sellin& product like) *
(") 'anners: -
Banners define brief idea of scheme, it should be ery attractie with specific
objectie and its related picture in city, and Banners keep in specific places which
ery help to do &ood publicity. It distributes only by AM#3s office.
Chen any new scheme is launched or any new 75% comin& up that times company
make banners before few days. Its helps to &ood adertisin& and easy coer to
customer or people.
() Application Form:
Any product like "4uity, debt and balance, inestor should fill up its common
Application forms.
5orm define acknowled&e slip which &ie return to customer. Actually :*time
stamp done in form, one of them is acknowled&ed slip. $hese forms are distributed by
Assets Mana&ement #ompany3s office. It is all Assets Mana&ement #ompany3s office
duty to dispatch forms to their customer like a&ents, brokers, and adisers time to
time.
(/) 'roac0ers:
Broachers include brief history of company. It defines when and where assets
mana&ement #ompany inests inestor3s money. $his defines performance of each
scheme product and also defines its comparison to last : months to more than @ years.
In end of eery month Assets Mana&ement #ompany3s office send Boucher to their
inestors, brokers, a&ents, adisers re&ularly.
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?. %ther assets and liabilities
@. 7umber of units sold or purchased
Fact& About Mutua+ Fu"*
"4uity Instruments like shares form only a part of the securities held by Mutual
5unds. Mutual 5unds also inest in debt securities, which are relatiely much safer.
$he bi&&est adanta&e of Mutual 5unds is their ability to diersify the risk.
Mutual 5unds are there in India since 1
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O!"#$%&"' () S$*+
Cithout any aim or objectie, no actiity can e(ist, in the same direction of
preparation of this report on /D5# assets Mana&ement #ompany limited. In different
functional areas and research on the mutual fund awareness in retail inestors of
/D5# assets Mana&ement #ompany limited in urat2 is based on the followin&
objecties) *
1. My primary objectie is to ac4uire primary functions of mana&ement like
-lannin&, %r&ani'in&, Directin& and controllin& from arious functional areas such as
5inance, /uman !esource, Marketin&, and ales etc.
0. Chateer we are tau&ht in the classrooms, there is a limitation that book can
only &ie theoretical concept or knowled&e and it has a limited iew of practically.
o, the other important objectie of this trainin& is to know about practical aspect and
to know how a company actually works in practical situation.
:. $o know the mutual fund awareness leel of the retail inestors who are inest
in /D5# assets Mana&ement #ompany limited.
?1
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L%%$$%(/' () S$*+
$here is no actiity without any limitations.
1. $hou&h eery one used to be ery co*operatie but eery detail was unable to
be disclosed to me as the officials has to maintain secrets of the company.
0. It is difficult to coer all the function of the company.
:. $he analysis and conclusion made by me as per my limited understandin& and
there may be somethin& ariation in the actual situation.
?. Because of the limited time period, the surey work was conducted in the
urat re&ion and the sample si'e was taken as 1== respondents only.
@. In this rapidly chan&in& turbulent era the su&&estions and recommendations
drawn out today mi&ht proe inade4uate or improper tomorrowT this is likely to limit
its effectieness.
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REVIEW OF
LITERATURE
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M9$9A 597D
I"tro*uctio" to Mutua+ Fu"*
A Mutual 5und is a trust that pools the sain&s of a number of inestors who
share a common financial &oal. $he money thus collected is inested by the fund
mana&er in different types of securities dependin& upon the objectie of the scheme.
$hese could ran&e from shares to debentures to money market instruments. $he
income earned in these inestments and the capital appreciation reali'ed by the
scheme is shared by its unit holders in proportion to the number of units owned by
them. $hus a Mutual 5und is the most suitable inestment for the common man as it
offers an opportunity to inest in a diersified, professionally mana&ed portfolio at a
relatiely low cost. Anybody with an inest able surplus of a few thousand rupees can
inest in Mutual 5unds. "ach Mutual 5und scheme has a defined inestment objectie
and strate&y.
A mutual fund is the ideal inestment ehicle for today3s comple( and modern
financial scenario. Markets for e4uity shares, bonds and other fi(ed income
instruments, real estate, deriaties and other assets hae become mature and
information drien. -rice chan&es in these assets are drien by &lobal eents
occurrin& in faraway places. A typical indiidual is unlikely to hae the knowled&e,
skills, inclination and time to keep track of eents, understand their implications and
act speedily.
A mutual fund is answer to all these situations. It appoints professionally
4ualified and e(perienced staff that mana&es each of these functions on a fulltime
basis. $he lar&e pool of money collected in the fund allows it to hire such staff at a
ery low cost to each inestor. In fact, the mutual fund ehicle e(ploits economies of
scale in all three areas Nresearch, inestment and transaction processin&.
A draft offer document is to be prepared at the time of launchin& the fund.
$ypically, it pre specifies the inestment objectie of the fund, the risk associated, the
cost inoled in the process and the broad rules for entry into and e(it from the fund
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and other areas of operation. In India, as in most countries, these sponsors need
approal from a re&ulator, "BI in our case. "BI looks at track records of the
sponsor and its financial stren&th in &rantin& approal to the fund for commencin&
operations.
A sponsor then hires an asset mana&ement company to inest the funds
accordin& to the inestment objectie. It also hires another entity to be the custodian
of the assets of the fund and perhaps a third one to handle re&istry work for the unit
holders of the fund. In the Indian conte(t, the sponsors promote the Asset
Mana&ement #ompany also, in which it holds a majority stake. In many cases a
sponsor can hold a 1==H stake in the Asset Mana&ement #ompany AM#+.
".&. Birla 8lobal 5inance is the sponsor of the Birla un ife Asset
Mana&ement #ompany td., which has floated different mutual funds schemes and
also acts as an asset mana&er for the funds collected under the schemes.
As per "BI re&ulations, mutual funds can offer &uaranteed returns for a
ma(imum period of one year. In case returns are &uaranteed, the name of the
&uarantor and how the &uarantee would be honored is re4uired to be disclosed in theoffer document.
Mutua+ Fu"* Cyc+e
(Fig no 2,-Mutual Fund Cycle)
5rom the aboe cycle, it can be obsered that how the money from the inestors flow
and they &et returns out of it. Cith a small amount of fund, inestors pool their money
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with the funds mana&ers. $akin& into consideration the market strate&y the funds
mana&ers inest this pool of money into reliable securities. Cith ups and downs in
market returns are &enerated and they are passed on to the inestors. $he aboe cycle
should be ery clear and also effectie.
$he fund mana&er while inestin& on behalf of inestors takes into consideration
arious factors like time, risk, return, etc. so that he can make proper inestment
decision.
Critica+ vie, about Mutua+ Fu"*
Benefits
If mutual funds are emer&in& as faorite inestment ehicle, it is because of the many
adanta&es they hae oer other forms and aenues of inestin&, particularly for the
inestors who has limited resources aailable in terms of capital and ability to carry
out details research and market monitorin&. $he followin& are the major adanta&es
offered by mutual funds to all inestors.
*3F#SSAL #8*#3!S#
5und mana&ers are professionals who track the market on an on &oin& basis. Cith
their mi( of professional 4ualification and market knowled&e, they are better placed
than the aera&e inestor to understand the markets.
D6#3SFCA!
ince a mutual fund scheme inests in number of stocks andJor debentures, the
associated risks are &reatly reduced.
3#LA!6#L& L#SS #8*#S6#
Chen compared to direct inestments in the capital market, mutual funds cost less.
$his is due to sain&s in brokera&e costs, demat costs, depository costs etc.
L$%D!&
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Inestors who inest on there own can build their own portfolios of shares and bonds
and other securities. Inestin& throu&h funds means he dele&ates this decision to the
fund mana&ers. $he ery hi&h*net*worth indiiduals or lar&e corporate inestors may
find this to be a constraint in achiein& their objecties. /oweer, most mutual fund
mana&ers help inestors oercome this constraint by offerin& families of funds* a
lar&e number of different schemes N within their own mana&ement company. An
inestor can choose form different inestment plans and construct a portfolio of his
own.
MAA.. A *3!FL F F%DS
Aailability of a lar&e number of funds can actually mean too much choice for the
inestor. /e may a&ain need adice on how to select a fund to achiee his objecties,
4uite similar to the situation when he has to select indiidual shares or bonds to inest
in.
#!3& AD #8! CS!
Mutual funds are a ictim of their own success. Chen a lar&e body like a fund inests
in shares, the concentrated buyin& and sellin& often results in aderse price moement
i.e. at the time of buyin&, the fund ends up payin& a hi&h price and by sellin& it
reali'es a lower price. 5or obious reasons, this problem is een more seere for
funds inestin& in small capitali'ation stocks. /oweer, &ien the lar&e si'e of debt
market, e(cludin& 9$I, most debt funds do not face this problem.
CHA.# F D#8 CM*S!
$he indices chan&in& oer the world to reflect chan&in& market conditions. $here is
an inherent suriorship bias in this process, with the bad stocks bided out and
replaced by emer&in& blue chips. $his is a seere problem in India with the sense(
hain& bein& chan&in& twice in last @ years, with each chan&e bein& 4uite substantial.
Another reason for chan&e inde( composition is Mer&ers and Ac4uisitions. $he
wei&ht a&e of the shares of a particular company in the inde( chan&es if it ac4uires a
lar&e company not a part of the inde(.
-y I"ve&tor Nee*& Mutua+ Fu"*
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Mutual funds offer benefits, which are too si&nificant to miss out. Any inestment has
to be jud&ed on the yardstick of return, li4uidity and safety. #onenience and ta(
efficiency are the other benchmarks releant in mutual fund inestment. In the
wonderful &ame of financial safety and returns are the tows opposite &oals and
inestors cannot be nearer to both at the same time. $he cru( of mutual fund inestin&
is aera&in& the risk.
Many inestors possibly don3t know that considerin& returns alone, many mutual
funds hae outperformed a host of other inestment products. Mutual funds hae
historically deliered yields aera&in& between
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ncome 3is
$he possibility that a fi(ed*income fund3s diidends will decline as a result of fallin&
oerall interest rates.
Maret 3is
$he possibility that stock fund or bond fund prices oerall will decline oer short or
een e(tended periods. tock and bond markets tend to moe in cycles, with periods
when prices rise and other periods when prices fall.
Ri& Retur" Re,ar* i" Mutua+ Fu"*
(Fig no ;: - 3is 3eturn in Mutual Fund)
$his &raph shows risk and return impact on arious mutual funds. $here is a direct
relationship between risks and return, i.e. schemes with hi&her risk also hae potential
to proide hi&her returns.
Ty!e& o% Mutua+ Fu"*
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$here are a wide ariety of Mutual 5und schemes that cater to your needs, whateer
your a&e, financial position, risk tolerance and return e(pectation. Chether as the
foundation of your inestment pro&ram or as a supplement, Mutual 5und schemes can
help you meet your financial &oals. $he different types of Mutual 5unds are as
follows)
Diversified #
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A fund comprisin& of bonds for which the interest rate is adjusted periodically
accordin& to a predator*mined formula, usually linked to an inde(.
.ilt Funds
$hese funds inest e(clusiely in &oernment securities.
'alanced Funds
$he aim of balanced funds is to proide both &rowth and re&ular income as such
schemes inest both in e4uities and fi(ed income securities in the proportion indicated
in their offer documents. $hey &enerally inest ?=*=H in e4uity and debt
instruments.
Structure o% Mutua+ Fu"*
"Fi% $ 6 ) St0u,tu0e 1 Mutu/4 Fu$&
5und ponsor
Any person or corporate body that establishes the 5und with a net worth of !s. 1=
crores and has paid out consistent returns to its inestors for last three years
consistently and re&isters it with "BI can be a fund sponsor. $he fund sponsor forms
a trust and appoints board of trustees. /e appoints #ustodian and Asset Mana&ement
#ompany AM#+ either directly or throu&h trust in accordance with "BI re&ulations.
"BI re&ulations also define that a sponsor must contribute at least ?= H to the networth of the asset mana&ement company.
AMC
Unitholders
Savings
Units
Trust
Investments
Trust
AMCCustodian
Registrar
SEBI
Returns
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$rustees
$rust is created throu&h the document called $rust deed that is e(ecuted by the fund
sponsor and re&istered with "BI. Board of trustees* a body of indiiduals or a trust
company*a corporate body may mana&e the trust cum Mutual 5und. $hese are
protector of unit holders interests.0J: of the trustees will be indiiduals and will not be
associated with the sponsors.
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RESEARCH
METHODOLODY
RESEARCH
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P*0('" () $2" R"'"0#2
Cith liberali'ation, priati'ation and &lobali'ation there has been a major chan&e in
the Indian Mutual 5unds Industry. $he momentum is on and one is sure to see similar
hectic actiity at the offices of the new entrants especially after the ing mutual fund a4areness in retail investors of HDFC
assets Management Company in Surat,
!esearch methodolo&y is a systematic plan or schedule or pro&ram of the research
done. It describes all the procedures of the research.
@@
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Re&earc De&i0"
!esearch desi&n can be described as an out line of a research project workin& or a
pattern. In a research desi&n there are series of prior decision that toðer proide a
master plan for completin& a research project. !esearch desi&n is proed to be a
brid&e between what has been established and what is to be done in conduct of the
studies. !esearch desi&n should be compressie and it should proide which
method to be used and what work to be done.
!esearch desi&n describes as a master plan a series of key decisions that seres a
model for conductin& a research project. $here are the main components of research
desi&n.
%bjectie of research
Data inputs
Analysis of data collected
T2e 0e#e/0,2 e#i%$ 3/# exploratory typeand the focus was on &ettin& mutual
fund3s employees iews for arious products, e(pectations from market.
#=ploratory 3esearc0:
"(ploratory study &oes beyond description and attempts to e(plain the reasons for the
phenomenon that the descriptie study only obsered. $he researcher uses theories or
at least hypotheses to account for the forces that caused a certain phenomenon to
occur.
Source& o% Data
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$he &atherin& of data may ran&e from a simple obseration at one location to a
&randiose surey of multinational corporations at sites in different parts of the world.
$he method selected will lar&ely determine how the data are collected. DA$A is the
facts presented to the researcher from the study3s enironment. #haracteristics of the
data are as follows)
Data are more metaphorical than real
Data are processed by our senses*often limited in comparison to
$he senses of other liin& or&anisms.
#apturin& data are said to be trustworthy because they may be
6erified.
Data classify their erity by closeness to the phenomena
$here are two kinds of data that can be collected for research purpose. Based on the
re4uirement in the research appropriate data is collected. Both the kinds of data are
shown below in the fi&ure)
"rror) !eference source not found
1+ -rimary data source
-rimary data are collected and &athered for the first time. -rimary data are sou&ht for
their pro(imity to the truth and controls oer error. Adanta&es of primary data are)
!esearchers can collect precisely the information they want.
$hey usually can specify the operational definitions used and can eliminate, or at
least monitor and record the e(traneous influences on the data as they are &athered.
0+ econdary data source
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omeone else collects secondary data. o, it becomes secondary information for the
research. econdary data hae had least one leel of interpretation inserted between
the eent and its recordin&. !easons for usin& the secondary data are listed below)
$hey fill a need for specific reference or citation on some point
econdary data are an inte&ral part of a lar&er research study
econdary data may be used as the sole basis for a research study, since
In many research situations one cannot conduct primary research
Because of physical, le&al, or cost influences.
Analy'in& the re4uirement of data, it was found that primary data is more important
for achiein& !esearch %bjectie. Primary data is collected with the help of
interviews.
Sam!+i"0 '+a"
#ollectin& the re4uired information from the ri&ht source is ery important. ources
from which the data are collected differ as per the re4uired of researcher.Basically there are two types of data collection sources)
1+ amplin& 9nit)
$he samplin& unit primarily consisted of inestors like businessman, professionals,
salaried employees and others. $he sample unit is taken from the urat city of 8ujarat
re&ion.
0+ ample i'e)
$hou&h lar&e sample &ie more reliable results than small samples but increases the
cost, time and non*samplin& error. Keepin& in iew these constraints 1== respondents
were chosen. Attempts hae been made to see that samples are chosen from different
areas of urat.
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I hae taken 1== responds as a sample si'e for this particular project .$he followin&
table shows area wise distribution of sample si'e.
AREA SAMPLE
9D/7A 1>M%!AB/A8A :
ADA;A7 1@
!A7D"! !%AD 1>
!ACAF $A$I%7 !%AD @
-A!" -%I7$ @
8/%DD%D !%AD
-I-%D 0
MA;9!A8A$" 0
!I78 !%AD ?
B/A8A ?
KA$A!8AM ?
6A!A#/A 0
#I$F I8/$ !%AD
7A7-9!A 0
-A7D"A!A 1
6"D !%AD 1
-A 1
B/"$A7 1
TOTAL 788
Data Co++ectio" Meto*
1 Ti& &te! i"vo+ve& mai"0 a very &!eci%ic !+a" about o, you ,i++ co"*uct
your re&earc a"* co++ect your *ata.2
1+ ureys and Euestionnaires
SurveyTh! m!n' %y which quntitti! r!'!rch i' conduct!d.
$uestionnaire pr!pr!d '!t of qu!'tion' d!'ign!d to g!n!rt! dt
n!c!''ry for ccomp$i'hing th! o%5!cti!' of th! r!'!rch pro5!ct.
used survey met0od for data collection. /nformtion w' co$$!ct!d %y
personal intervie4sthrough
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imp$! ct!gory 'c$!: - ,6-27 6-47 6-*7 6-)
u$tip$! choic! 'ing$! r!'pon'! 'c$!': - ,6-&
u$tip$! choic! mu$tip$! r!'pon'! 'c$!:-,6-17 6-37 6-#7 6-+
DATA ANALYSIS
AND
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FINDINGS
E*1 which inestment aenues are you aware ofU
I76"$M"7$ A6A79" 5!"E9"7#F -"!#"7$A8"H+
"E9I$FJM9$9A 597D 1== :?.:
-%$ %55I#"
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(Fig no ?: - Define investments avenues)
nterpretation: -
5rom the aboe charts we can interpret that awareness of e4uityJmutual fund, post
office 7#, K6-, and --5+, fi(ed deposits is more compare to others like 8%6$
I9"D Instrument, 8%6$ Backed Instrument, !eal "state, &old etc. so /D5#
assets Mana&ement #ompany needs to focus more on those inestors who are more
inest in K6-, 7#, --5 and fi(ed deposits.
E*0 do you inests in mutual fundU
F" 7%
:
0
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(Fig no "@: - Define investments in mutual fund)
5rom the aboe chart it is &ettin& clear that now a days people are like to inest their
money in mutual fund of different assets mana&ement company, out of 1== people
sampled are inestin& in the mutual fund.
E*: If yes, in which assets class do you want to inest in
Mutual 5undU
$F-" %5 #/"M" !"-%7" -"!#"7$A8"
"E9I$F >0.0>H
D"B$ 0> 00.
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(Fig no "": - Define sc0emes preferred 5y investors)
5rom the aboe chart it is &ettin& clear that from 1== peoples sample >0.0>H+
people are inest in e4uity assets class and 0>00.
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(Fig no ": - Define investment in HDFC assets Management Company)
From th! %o! chrt it i' g!tting c$!r tht out of 100 p!op$! 'mp$!d7 #&
p!op$!' r! in!'t in HDFC ''!t' mng!m!nt compny nd 44 p!op$!'
r! not in!'t' in HDFC ''!t' mng!m!nt compny.
E*@ If yes, in which scheme would you inest in /D5# assets
Mana&ement company limitedU
SCHEMES OF HDFC
NO OF
INVESTOERS
"E9I$F 597D ?:
#A-I$A B9ID"! 597D 0
-!9D"7#" 597D 1>
$A A6"! 597D :@
#%!" A7D A$"I$" 597D :
$%- 0== 597D 1
BAA7#"D 597D 1
@
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8!%C$/ 597D 1
%$/"! 597D @
(Fig no "/: - Define sc0eme in 40ic0 investors invest in HDFC assetsManagement Company)
5rom the aboe chart we can see that in /D5# assets Mana&ement #ompany3s
"E9I$F 597D ma(imum number ?:+ of people are inest. In $A A6"! 597D
:@ number of people inests. In both $%- 0== 597D and 8!%C$/ 597D 1
numbers of people are inests but in BAA7#"D 597D, #A-I$A B9ID"!
597D, #%!" A7D A$"I$" 597D only 1,0 and : people are inest so inestors
are not inested in these : schemes. In -!9D"7#" 597D 1> numbers of people are
inested.
E* By which medium you inest in /D5# assets
Mana&ement company limitedU
MEDIUM OF INVESTMENT NO OF PEOPLE
DI$!IB9$%!
BA7K ?
%7I7" =
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(Fig no "1: - Define mediums c0oose 5y investors for invest in HDFC
assets management company)
5rom the aboe chart it3s &ettin& cleared that most of the peoples ?+ are inest by
bank and only peoples are inest by distributors. 7obody inests throu&h online. o
here /D5# assets Mana&ement #ompany has to proide facility by which inestors
inest their money with out any middle man in mutual fund schemes throu&h online.
7otes) * here out of 1== responds, ?? responds are not inest in /D5# assets
Mana&ement #ompany. $hese responds are not considered in these 4uestions.
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E*> why do you prefer inestin& in /D5# assets
Mana&ement company limitedU
PREFENCE CRITERIA NUMBER
B"$$"! 597D /%9" ?:
"#""7$ #9$%M"! "!6I#"
-!%6ID"! 1@
#%7I$A7$ !"$9!7 ??
%$/"! 1
Fig no "2: - Define *reference criteria of investors)
5rom the aboe pie * chart it can be seen that majority of the people that is ?? peoples
&ie first rank to consistent return and ?: peoples inest in /D5# assets mana&ement
company because /D5# assets mana&ement company is a better fund house and 1@
peoples beliees that /D5# assets Mana&ement #ompany proides "#""7$
#9$%M"! "!6I#".
E* In which type of product Jschemes would you prefer while
Inested in e4uity schemes of /D5# assets mana&ement
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#ompany limitedU
TYPES OF SCHEMES RESPONSE
%-"7 "7D"D @:
#%" "7D"D :
(Fig no ";: - Define type of product sc0emes investors prefer for
investments)
5rom the aboe chart it is &ettin& clear that most of peoples @:+ prefer to inest in
%-"7 "7D"D e4uity schemes and only just : peoples want to inest in #%""7D"D e4uity schemes of /D5# assets Mana&ement #ompany.
7otes) * here out of 1== responds, ?? responds are not inest in /D5# assets
Mana&ement #ompany. $hese responds are not considered in these 4uestions.
E*< do you know about on &oin& new fund offer of /D5#
Assets Mana&ement company limitedU
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AWARENESS OF NFO NUMBER PERCENTAGE
F" @ @H
7% ?0 ?0H
$%$A 1== 1==H
(Fig no "+: - Define a4areness level a5out on going F of HDFC assets
Management Company,)
$he aboe pie * chart shows that around @H people aware of on &oin& new fund
offer of /D5# assets Mana&ement #ompany and only ?0H people are unaware from
on &oin& new fund offer of /D5# assets mana&ement company.
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FINDINGS
FINDINGS
Almost @H are inestin& in /D5# assets mana&ement company3s schemes.
>1
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%ut of the total respondent almost :=H said that they inest in fi(ed deposit and
Insurance. Chere as :?H said that they inest in hares and mutual funds, where as
:0H says that they inest in post office schemes.
H of the inestor was found who is inested their sain&s in different
schemes of mutual fund.
@: respondents prefer to inest in a open ended schemes of /D5# assets
mana&ement company, where as remainin& only : respondents prefer to inest in a
close ended of /D5# assets mana&ement company.
It is found that awareness leel about Mutual 5unds is H in urat city of
8ujarat.
%ut of the total respondent >0.0>H are inestin& in e4uity schemes. Chere as
remainin& 00.0
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In /D5# assets Mana&ement #ompany3s "E9I$F 597D ma(imum number
?:+ of people are inested and In $A A6"! 597D :@ number of people are
inests.
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LIMITATIONS
I!I"#"I$NS $F %&S%'(
>?
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$his e(ploratory research is done focusin& on the inestment scenario of urat
city of 8ujarat re&ion only and therefore findin&s and su&&estions &ien on the basis
of this research and cannot be considered for the entire Mutual 5und Industry of India.
ome of the people, out of arious sectors that I had isited for study, did not
&ie me cooperatie response.
Due to small market and time limit I could take only 1== responses.
Another limitation is that due to lack of knowled&e and education many
inestors don3t know the basic ideas behind mutual fund.
Due to $ime constraint I could not analy'e more.
My own ine(perience in research area mi&ht hae affected the study.
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CONCLUSIONS
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'$N'USI$NS
/alf of the respondents are inestin& in different schemes of mutual fund
companies.
$he inestors prefer inestin& more in banks and post office, which shows that
inestors want security, and assured returns.
%thers than Banks and post office the ne(t preference of inestors who &o for
risky preposition in shares and Mutual 5unds. $hat is basically due to misconception
that Mutual 5und #ompanies usually inest in e4uity market, which shakes trust of
people in Mutual 5und.
Majority of inestors inested in open*ended schemes.
$he awareness leel about /D5# assets Mana&ement #ompany is moderate but
still the awareness should be created because ??H peoples still not inest in /D5#
assets Mana&ement #ompany.
As the inestor prefers safe inestment and want consistent return, they inest in
debt schemes 00.>
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$he time frame of the inestment by majority of the inestors is open*ended
schemes in which their money is not locked for : to @ years.
RECOMMENDATION
S
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%ecommendations
$he company should try to make aware people about their different schemes
throu&h the road showT seminars and presentation that it is not just e4uity based
schemes but also debt and li4uid or balanced schemes also promoted by company.
#ompany has to put hoardin&s, banners, pamphlets in that area where peoples can
watch easily.
$he customers should be made aware that if the time frame of the inestment
is more than : years "4uity option is the best tool for inestin& in mutual fund by this
inestors &ettin& &ood and hi&h returns for their inestments.
$he company should be conductin& special trainin& and motiation
-ro&ramme for their distributors and also for inestors so that they are bein&
motiated to work, their 4uality of performance and contribution in sales is
maintained.
#ompany has to proide application forms and other promotional materials to
their distributors time to time and company has to maintain better relationship with
their distributors by these they can &ie &ood contribution in inestments.
7one of responds inest their money in different schemes of company
By %nline, so company has opportunity to launch online serices for their distributors
and retail inestors.
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#ompany3s core and satellite fund, balanced fund, capital builder fund are
preferred by ery few inestors because this schemes not perform well so company
has to think about their companies in which they inest inestor3s money so they hae
to chan&e portfolio of inestments.
Most of the people still preferred to inest in post office schemes and fi(ed
deposits so company has to focus on these inestors.
ANNEXURE
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3ue&tio""aire
8E: -
DD9E: -
C8TCT 8: , ,9 ,
1 ;hich in!'tm!nt !nu!' r! you wr! of