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Submitted by Shweta Roll No 1175041
Submitted to Ms. Ritika
in the partial fulfillment for the award of the degree of
Masters of Business Administration Rayat and Bahra Institute of Management,Mohali Punjab Technical University, Kapurthala
However they proved too costly for a small investor. and Bonds where there is low risk but low return. bringing in their professional expertise in managing funds worldwide. Now investors have a wide range of Schemes to choose from depending on their individual profiles. Mutual fund industry has seen a lot of changes in past few years with multinational companies coming into the country.INTRODUCTION There are a lot of investment avenues available today in the financial market for an investor with an investable surplus. Corporate Debentures. history of mutual funds in India. The recent trends in the Stock Market have shown that an average retail investor always lost with periodic bearish tends. He may invest in Stock of companies where the risk is high and the returns are also proportionately high. He can invest in Bank Deposits. latest trends. limitations. My study gives an overview of mutual funds – definition. These investors have found a good shelter with the mutual funds. global scenarios. People began opting for portfolio managers with expertise in stock markets who would invest on their behalf. Thus we had wealth management services provided by many institutions. risks. In the past few months there has been a consolidation phase going on in the mutual fund industry in India. benefits. I have analyzed a few prominent mutual funds schemes and have given my findings. types. .
they found managers' performance as well as timing skill worsens with the inclusion of this dummy. and Jensen are based on the Mean-Variance (M-V) rule are valid only when the distribution of asset returns is characterized by spherical symmetry to which class normal and similar distributions belong. They have also studied the impact of the tech rally in the conditional models by introducing a dummy variable indicating the period of rally in tech stocks. . Sharpe. there is still lot of research that needs to be done keeping in view changing investment pattern of the investors .REVIEW OF LITERATURE Studies undertaken by various scholars and researchers reveals that mutual funds is a trust that pools the savings which are further invested into capital market instruments such as shares. not all . there has not been any fixed criteria for evaluating the performance of the mutual funds . have an element of risk so it very difficult to evaluate the performance of various schemes . The findings of the research suggests that the use of conditioning lagged information variables improves the performance of the mutual fund schemes. and capturing the extent to which it is below. causing the alphas to shift towards the right and reducing the number of negative timing coefficients. debentures and other securities and since most of the capital market instruments. According to G. Finally. Banikanta Mishra & Mahmud Rahman have developed measures of evaluating portfolioperformance based on LPM (Lower-Partial-Moment). According to them. From the LPM perspective. risk has been measured by taking into account only those states in which return is below a pre-specified "target rate". like risk-free rate. the three traditional measures by Treynor. Despite of lot of research being done on the mutual funds. According to Bijan Roy & Saikat Sovan Deb when the beta of the fund is conditioned to lagged economic information variables the fund performance does not change appreciably. Sethu & Rachana Baid findings significant contribution to index fund tracking error may arise from factors that are not under index fund manager's control and also tracking error is not neutral to some of the factors.Various research papers have been written while considering the performance evaluation criteria into mind which have been discussed in the following paragraphs.increasing market risk and various other factors linked with the mutual fund industry.
Exploratory Research DATA COLLECTION Primary Research: The primary study is done on the basis of questionnaire that had got filled up directly from the investors of different age. RESEARCH DESIGN. .OBJECTIVES OF THE STUDY: o To analyze investment alternatives through market survey. magazines etc. which influences the investor’s decisions HYPOTHESIS Null Investors prefer Mutual Funds over other investment options. o To find out the factor. SOURCES OF DATA Primary sources :Secondary data: (a) Questionnaire technique (a) Mutual funds related Organization’s website. Convenience Sampling: In convenience sampling. the selection of units from the population is based on easy availability and/or accessibility. It will be consisting of data collected from various journals. books. Secondary Research: The study is done on secondary basis. internet. (b) Journals (c) Newspapers and other magazines. income and profession. Alternate Investors do not prefer Mutual Funds over other investment options. o To find out investor’s motive towards investment.
At present you invest in: (number 1-10). Stock market ____ f. Marketability _____ . 25-35 c. Financial Advisors _____ b. b. Insurance ____ j. 1 being lowest and 10 highest. > 5 lakhs 6. Rate of return _____ c. Attractive advertisements _____ e. d. Objective of your investment is? Rate on scale of 1-5 (1-lowest. a. c.: 4. Gold ____ 6. 35-50 g. Tax Free Return _____ 8. 5-highest) a. Among various investment alternatives you think is best for you and why? _____________________________________________________________________ 7. 50 onwards 5.5lakhs c. Who influence your investment decision the most? Rate On Scale 1-5 (1-lowest. Real estates ____ h. Age group: a. Others ____ e.QUESTIONNAIRE 1. Income range (Annually) a. Contact No. 5-3 lakhs b. Your own decision _____ b. Name: 2. 5highest) a. Up to 1. Financial experts _____ c. Mutual funds ____ b. Bank FD ____ PF ____ Bonds____ Post Office ____ e. Address: 3. Speculation _____ e. Friends _____ d. Security _____ d.
Debt b. Above 5 year 12. e. Equity b. c.V & Newspapers Magazines Friends & Relatives Financial Advisor Others _________ _________ _________ _________ _________ 11. 3-5 years e. d. T. (1-lowest. ___________________________________________________________________________ ___________________________________________________ THANK YOU FOR YOUR PRECIOUS TIME . b. 2-3 years d. 5-highest) a. in which fund you want to invest in future? a. Yes 13. (1-lowest. What is the most preferred period of investment in the mutual fund? Rate 1-5. 5-highest) a. Below 1 year _________ _________ _________ _________ _________ b. 1-2 year c. Any other information or suggestions. Do you have any future plan for investing in mutual funds? a. Balanced c. No 14.9. IF yes. Awareness towards mutual fund through: Rate On 1-5.