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COMPARATIVE ANALYSIS OF RISKS AND RETURNS OF TOP 5 funds

COMPARATIVE ANALYSIS OF RISKS AND RETURNS OF TOP 5 funds

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Published by: anuragmehta1985 on Jul 04, 2009
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TABLE OF CONTENTS
ABSTRACT ...................................................................................................................2INTRODUCTION ...........................................................................................................3MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED : .......................................3Company Profile : .................................................................................................3MUTUAL FUND : .......................................................................................................4ORGANISATION OF A MUTUAL FUND: ......................................................................4IMPORTANT CHARACTERISTICS OF A MUTUAL FUND ...............................................5OBJECTIVES OF A MUTUAL FUND: ............................................................................5ADVANTAGES OF MUTUAL FUNDS: ...........................................................................5 TYPES OF MUTUAL FUNDS: ......................................................................................5MUTUAL FUND SCHEME TYPES: ...............................................................................6DIFFERENT MODES OF RECEIVING THE INCOME EARNED FROM MUTUAL FUNDINVESTMENTS ..........................................................................................................7RISKS AND RETURNS CALCULATION AND ANALYSIS ...................................................8RISKS ASSOCIATED WITH MUTUAL FUNDS:- ............................................................8BETA, ALPHA AND STANDARD DEVIATION :.............................................................9BRIEF OVERVIEW OF THE SELECTED FUNDS : ........................................................11RISK AND RETURN CALCULATION : ........................................................................12Reliance Growth Fund Growth ..........................................................................12HDFC Equity Fund - Growth ................................................................................15Fidelity Equity Fund Growth .............................................................................19HSBC Equity Fund Growth ................................................................................22ICICI prudential Dynamic Plan Growth .............................................................25ANALYSIS : .............................................................................................................28FURTHER SCOPE OF STUDY : ...................................................................................31
 
ABSTRACT
The project contains the brief description of the mutual fund industry in general. The top 5 equity mutualfunds has been decided based on their total Asset Under Management ( AUM ) presently. The funds thatare selected for study are :
1.
Reliance Growth Fund- Growth ( AUM : Rs. 3142.92 Cr. as on 27
th
Feb, 2009 )
2.
HDFC Equity Fund- Growth ( AUM : Rs. 2331.76 Cr. as on 27
th
Feb, 2009 )
3.
Fidelity Equity Fund- Growth ( AUM : Rs. 1776.75 Cr. as on 27
th
Feb, 2009 )
4.
HSBC Equity Fund – Growth ( AUM : Rs. 1017.2 Cr. as on 27
th
Feb, 2009 )
5.
ICICI Prudential Dynamic Plan- Growth ( AUM : Rs. 1013.63 Cr. as on 27
th
Feb, 2009 )The Net Asset Value ( NAV ) of each of these top mutual funds over the last one year is taken in accountto find out the standard deviation of each of the funds. These are taken into account to measure the returnsof those funds. The returns are compared with that of their benchmark index return. Using the NAV valueof these mutual funds, beta(β) co-efficient of each of them has been calculated to know whether they areless risky, average risky or high risky funds. Similarly, Alpha(
α
), and standard deviation(
α
) alsocalculated to understand the risk and return profile of the selected funds. The returns of these funds over the last one year are also be analyzed.The project will also contain the portfolio analysis of the funds and their share of investments in differentsectors. This will help us to analyze which sectors hold the major investments of these funds. Primarydata will be collected using questionnaire to understand the awareness of people as a risk diversifiedinvestment instrument.
 
2
 
INTRODUCTION
MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED
 
:
 
Company Profile :
A subsidiary of Mahindra & Mahindra Limited, it is one of India’s leading non-banking financecompanies. Focused on the rural and semi-urban sector, it provides finance for utility vehicles, tractorsand cars and has the largest network of branches covering these areas. The company’s
vision i
s to be theleading Rural Finance Company and continue to retain the leadership for Mahindra products and its
goal 
is to be the preferred provider of retail financing services in the rural and semi-urban areas of India, while
is to provide a range of financial products and services to its customers through our nationwidedistribution network.
Product Portfolio
:
Mahindra Finance have a wide range of products and services, with something to suit everyone’s needs.Right from finance for two wheelers,tractors,farm equipment, carsandutility vehiclestocommercial  vehiclesandconstruction equipment,we also have a group of experts providinginvestment advice,  surveying available market products and choosing the most suitable to our customers’ needs.The company is all-encompassing of clients’ needs. So while it believes in making assets easily available,it also believes in catering to those who want to create wealth from these assets. Its Investment AdvisoryServices act as an avenue to help create and multiply wealth.Recently it has received the necessary permission from Reserve Bank of India (RBI) to start thedistribution of Mutual Fund products through our network. Hitherto it was only participating in theliability requirements of its customers but with a mutual fund distribution business, it can also participatein their asset allocation.Recently, the company has launched its own fixed deposit scheme which has been rated FAA+ by CRISILwhich indicates high safety. Currently, the company has a network of 442 offices in India.
 
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