Professional Documents
Culture Documents
DISTANCE LEARNING
FINANCIAL INCLUSION IN INDIA TOP THREE
BANKS OF INDIA
For partial fulfillment of the requirement for the degree of
POST GRADUATE
DIPLOMA IN
BANKING AND FINANCE
SESSION:2013-15
SUBMITTED BY:
Name: SURINDER KAUR
Registration No. -201117826
Course: P.G.D.M.-(IV-Sem.)
Centre city: Bareilly
Certificate
This is to certify that Mr SURINDER KAUR a student of PGDM IV Semester has
completed his/her Research Project Report titled COMPARETIVE STUDY OF
EQUITY DIVERCIFICATION ICICI MUTUAL FUND WITH HDFC MUTUAL
FUND assigned by MBA Department under my supervision.
It is further certified that she has personally prepared this report that is the result of
her personal survey / observation. It is of the standard expected to PGDM student
and hence recommended for evaluation.
DECLARATION
This is to be declare that I SURINDER KAUR student of PGDM in SYMBIOSIS
CENTRE FOR DISTANCE LEARNING have given original data and information to
best of my knowledge in the report entitle comparative study of equity
diversification ICICI mutual fund with HDFC mutual fund
I further state that no part of this information has been used for any assignment but for
Partial fulfillment of the requirements towards the completion of the above mentioned
Course.
SURINDER KAUR
AKNOWLADGEMENT
COMPARITIVE STUDY OF
CONTENT
CONTENTS
PAGE NUMBERS
Executive summary
6 to 7
Chapter.1
Introduction of topic
8 to 10
Chapter.2
Literature Review
11 to 14
Chapter.3
Research Design
15 to 23
Chapter.4
24 to 47
Chapter.5
48 to 49
Chapter 6
Summary &conclusion
50
Annexure 1
Bibliography/References
51 to 52
Annexure 2
Questionnaire
53to59
EXCICUTIVE SUMMRY
Even though the first mutual fund in the country is more than40 yrs old, the mutual
fund industry is still nascent one. Most of the mutual funds are about 10 years old. As
percentages of the savings of the household sector; they manage only about3%. This
shows, however, a great potential that the industry has. This slow growth by the mutual
funds is a surprising one when one collects that, just over a decade back, the industry in
one year, was managing as high as 8-9% of financial savings of the household sector.
Also during the last 15 years, interest rates on safe banking instruments have been
coming down. The number of mutual funds has grown but their penetration in household
sector has not increased commensurately. This calls for an explanation on further
research. Unfortunately the area of mutual funds has been a highly under researched one.
The relative yields of long term instruments, their riskiness, and comparative
performance etc are areas of research where not enough attention has been paid by the
researchers. The reason may be that industry is an ascent one and a decade is not
sufficiently long period for drawing meaningful conclusions. The period chosen for this
study is when public mutual funds have already been set up and private sector funds
entered and global mutual funds are just entering. The external environments are common
to both. The public sector mutual funds have the legacy and performance and advantage
of distribution network, but now they are facing the adverse market situation. The private
sector mutual funds entered perhaps at a wrong time but have a freedom to recruit talent
at the market price and started with the best available talent in the financial sector. This
set up allowed good competitive environments for fund managers. There is a good reason
to deviate from the long term study of other countries because the returns on the equity
investment outperform returns on the risk free instruments. Only a good research can help
us to know whether this is also an appropriate time for India
CHAPTER- 1
7
INTRODUCTION OF THE
TOPIC
Mutual Funds have become a widely popular and effective way for investors to
Participate in financial markets in an easy, low-cost fashion, while muting risk
Characteristics by spreading the investment across different types of securities, also
known as diversification. It can play a central role in an individuals Investment strategy.
They offer the potential for capital growth and income through investment performance,
dividends and distributions under the guidance of a portfolio manager who makes
investment decisions on behalf of mutual fund Unit holders. Over the past decade, mutual
funds have increasingly become the Investors vehicle of choice for long-term
investment. It becomes pertinent to study the performance of the mutual fund. The
relation between risk-return determines the performance of a mutual fund scheme. As risk
is commensurate with return, therefore, providing maximum return on the investment
made within the acceptable associated risk level helps in segregating the better
performers from The laggards. Many asset management companies are working in India,
so it is Necessary to study the performance of it which may be useful for the investors to
select the right mutual fund. A Mutual Fund is a trust that pools the savings of a number
of investors who share a common financial goal. Anybody with an investible surplus of
as little as a few hundred rupees can invest Mutual Funds. These investors buy units of a
particular Mutual Fund scheme that has defined investment objective and strategy. The
money thus collected is then invested by the fund manager in different types of
Securities. These could range from shares to debentures to money market Instruments,
depending upon the scheme have stated objectives. The income earned through these
investments and the capital appreciation realized by the scheme is shared by its unit in
proportion to the number of units owned by them. Thus a Mutual Fund is the most
suitable investment for the common man as it offers an opportunity to invest in a
diversified, professionally managed basket of securities at relatively low-cost
OBJECTIVE
To give a brief idea about the benefits available from mutual fund investment.
SCOPE
9
The research work attempt to evaluate the performance of mutual fund Industry in India
under the regulated environment after the introduction Of the icici and reliance mutual
fund regulations 1996 enforcing Uniformity in rules and regulations. Performance
evaluation of mutualFund in this study is confined to three aspects namely, financial
investing public and regulatory body. In financial aspects, the Performance of the mutual
fund is evaluated from return incurred bythem and their comparison with the stock
market index. Investment Performance of the mutual fund is evaluated through a survey
conducted on the mutual fund investors considering their attitude, satisfaction and their
aspects, finally, the impact of regulatory measures taken from time to time by by
regulatory authority on the performance of the mutual fund. For evaluating the financial
performance of selected mutual fund, the period of the study is taken from 2002-2003 to
2013-2014etc. April 2002, march 2014.
CHAPTER- 2
LITLATURE REVIEW
10
Sapir & Narayan(2003) examines the performanceof Indian mutual fund in a bear market
through relative performance index, risk-return analysis, Tenors ratio, Sharp's ratio,
Sharp's measure, Jensen's measure, and Fames measure with a sample of 269 open
ended schemes (out of total schemes of 433). The results of performance measures
suggest that most of the mutual fund schemes in the sample of 58 were able to satisfy
investor's expectations by giving excess returns over expected returns based on both
premium for systematic risk and total risk. Rao D. N (2006) studied the financial
performance of select open-ended equity mutual fund schemes for the period 1st April
2005 31st March 2006 pertaining to the two dominant investment styles and tested the
hypothesis whether the differences in performance are statistically significant. The
analysis indicated that growth plans have generated higher returns than that of dividend
plans but at a higher risk studied classified the 419 open-ended equity mutual fund
schemes intosix distinct investment styles. the empirically testing on the basis of fund
manager performance and analyzing data at the fund-manager and fund-investor levels.
The study revealed that the performance is affected by the saving and investment habits
of the people and at the second side the confidence and loyalty of the fund Manager and
rewards- affects the performance of the MF industry in India. Mehta Sushilkumar (2010)
analyze the performance of mutual fund schemes of icici and reliance and found out that
HDFC schemes have performed better then the ICICI in the year 2007-2008. Selvam et.al
(2011) studied the risk and return relationship of Indian mutual fund schemes. The study
found out that out of thirty five sample schemes, eleven showed significant tvalues and
all other twenty four sample schemes did not prove significant relationship between the
11
risk and return. According to t-alpha values, majority (thirty two) of the sample schemes'
returns were not significantly different from their market returns and very few number of
Sample schemes' returns were significantly different from their market.The topic of
project was mutual funds A case study and survey. After the research works that
mutual fund industry is enlarging its size inIndia investors are willing pour money in
mutual funds. Despite some Temporary registrants, other economic modes are in
favorable mode. Thus we need proper management of advisory services more schemes
financial advisor and institution to cater the market.Industry need to revise its business
strategy. Investors perception is not Prioritized yet instead of completing target, advisors
working under Institutions should consider the requirements of the investors. We need
Changing pattern of selling mutual funds.The topic was a study of preferences of
investors for investment in mutual funds for the reliance mutual funds. that most of the
investors dont invest in Sbimutual fund due to non awareness. And he adds that most
of the investors of Patna had invested in reliance or icici mutual funds and ICICI mutual
funds also has good brand position among them. And icici mf places after ICICI mutual
fund according to respondents. The most portfolio are equity second most is balance and
least prefer portfolio was debts portfolio. Most of the investors doesnt want to invest in
sectored fund. And he observed thatmany people havethe fear of mutual fund. They need
information brand place and important role and relaince mutual fund ICICI mf etc.
arewell non brand so they are doing well.Review of literature is a brief description about
mutual funds research work conducted in India as well as in abroad. Some of these
12
studies have been reviewed in the following paragraphs in order to establish the research
gap and need for the present study. Treynor (1965) developed a methodology for
evaluating mutual fund performance that is popularly referred to as reward to volatility
ratio. Sharpe (1966) carried out a well acknowledged and widely quoted work on
performance evaluation. He also developed a composite measure of performance
evaluation that considers both return & risk. Jensens (1968) classic studies developed an
absolute measure of performance based upon the Capital Asset Pricing Model. The excess
fund returns were regressed upon the excess market returns to estimate the characteristics
line of the regression model. J. Williamson (1972) made an effort on the study of
measuring and forecasting of mutual funds performance and test the hypothesis that a
funds performance affected by net new money. There is a popular belief that the
availability of net new money tends to increase performance. Williamson, however, found
no correlation. He also sought to determine if net new money was related to past
performance with the result that no correlation was found. Kun and Jen (1978) estimated
the systematic risk and performance of 49 mutual funds over the period 1960-71 by
utilizing monthly price data. The result indicated that a very substantial fraction of mutual
funds had two level of systematic risk during each of three sub periods. Kane and Marks
(1983) developed conditions under which Sharpe (1966) measure would correctly and
completely capture market timing ability of fund managers. Lee and Rahman (1989)
examined market timing and selectivity performance of selected mutual funds. They
concluded that at the individual level, there was some evidence of superior forecasting
ability on the part of fund manager. Grinblatt and Titman (1994) reported that mutual
13
fund performance evaluation measures generally yielded similar inferences with the same
benchmark. Jayadev (1998) conducted a study on the performance evaluation of portfolio
managers. He examined the performance of 62 mutual fund schemes using monthly NAV
data for the period of April 1987 to March 1995. The study showed that the Indian mutual
funds were not properly diversified. Singh and Chander (2001) appraised the status of
Indian mutual fund in pre-liberalisation and Asia Pacific Journal of Marketing &
Management Mohanan (2006) found that Indian mutual fund industry was one of the
fastest growing sectors in the Indian capital and financial markets. Mutual funds assets
under management grew by 96 percent between the end of 1997 and June 2003 and as a
result it rose from 8 percent of GDP to 15 percent. Agrawal (2007) examined that since
the development of the Indian capital Market and deregulations of the economy in 1992 it
has came a long way with lots of ups anddowns. The study revealed that the performance
is affected by saving and investment habits of the people; at the second side the
confidence and loyalty of the fund manager and rewards affects the performance of the
mutual fund industry in India. Parihar et al. (2009) revealed that mutual funds
arefinancial intermediaries concerned with mobilizing savings of those who have surplus
and the canalization of these savings in those avenues where there is a demand for funds.
CHAPTER 3
RESEARCH
DESIGEN
14
Research Design
A method and system a statical analysis based on past history to facilitate the
investment process. respective fund using a principal factor such as cumulative growth
and stability. For tracking investment, upper and lower control limits are
defined according to standard deviation of average total return over predetermine period
of time to improve chances of the investors achieving a profit as well as a near optimum
performance. .This research methodology helps us to give information about the
opportunities of mutual funds investment. It will help to study the market of mutual funds
better.
Sample Design
All mutual fund companies and there return on investment.
A sample design is a definite plan for obtaining a sample from a given
population. It refers to the technique or method the researcher would
adopt in selecting items for the sample.
15
Secondary data
Articles
Factsheet
Management generals
Annual report
Research papers
Internet
Companies product voucher
News papers
Major Finding
After valuation of the data I am finding out some positive and some
negative result for Indian market mutual funds opportunities.
Positive results:
1. Professional Management The basic advantage of funds is that, they are professional managed, by well qualified
professional. Investors purchase funds because they do not have the time or the expertise
16
to manage their own portfolio. A mutual fund is considered to be relatively less expensive
way to make and monitor their investments.
2. Diversification Purchasing units in a mutual fund instead of buying individual stocks or bonds, the
investors risk is spread out and minimized up to certain extent. The ideabehind
diversification is to invest in a large number of assets so that a loss in any
particular investment is minimized by gains in others.
3. Economies of Scale Mutual fund buy and sell large amounts of securities at a time, thus help to reducing
transaction costs, and help to bring down the average cost of the unit for their
investors.
4. Liquidity Just like an individual stock, mutual fund also allows investors to liquidate their
holdings as and when they want.
5. Simplicity Investments in mutual fund are considered to be easy, compare to other available
instruments in the market, and the minimum investment is small. Most AMC also
have automatic purchase plans whereby as little as Rs. 2000, where SIP start with
just Rs.50 per month basis.
17
STATISCAL TOOLS:
For the purpose of analysis, Mean and percentage methods are used for the calculation
and the result was interpreted. This test was used to minimize the error of the data
collected.
Null hypothesis (HO) states: the two attributes are independent of each other.
Alternative hypothesis (HI) states: the two attributes are dependent of each
other.
QUESTIONNARE
1. What kind of investments you prefer most? Pl tick (). All applicable
a. Saving account
b. Fixed deposits
c. Insurance
d. Mutual Fund
f. Shares/Debentures
g. Gold/ Silver
h. Real Estate
18
I. PPF
j. PF
2. While investing your money, which factor you prefer most? Any one
Liquidity
Low Risk
High Return
Company reputation
No
If yes,
a) Where do you find yourself as a mutual fund investor?
Totally ignorant
[ ]
[ ]
[ ]
c)
[ ]
Private [ ]
a. Advertisement
b. Peer Group
c. Banks
d. Financial Advisors
19
Close-ended
Mid- Cap
Regular Income fund
Sector fund
Higher risk
[ ]
[ ]
[ ]
Regular Income
[ ]
Tax benefit
[ ]
5. In which Mutual Fund you have invested? Please tick (). All applicable.
a. SBIMF
b. UTI
c. HDFC
d. Reliance
e. ICICI prudential funds
f. JM mutual fund
g. Other. Specify
20
6. When you invest in Mutual Funds which mode of investment will you prefer?
a. One Time Investment
[ ]
Brokers/ sub-brokers
[ ]
Other sources
[ ]
General 1st
Oil and petroleum
Gold fund
iv.
v.
Power sector
vi.
Debt fund
vii.
Banking fund
21
viii.
ix.
10. How would you like to receive the returns every year?
a. Dividend payout
b. Dividend re-investment
c. Growth in NAV
Contact No:-
Under Graduate
Others
Pvt. Sec
Business
Agriculture
Others
Rs. 10,001 to
15000
Rs. 15,001 to
20,000
Rs. 20,001 to
30,000
22
CHAPTER- 4
DATAANALYSIS AND INTERPRETATION
1. Do you invest in mutual fund?
YES
100
NO
23
120
100
100
80
60
YES
NO
40
20
0
Interpretation:All the candidates who are asked to fill the questionnaire have invested
in mutual fund.
HDFC
65
ICICI
35
Reliance
SBI
LIC
Kotak Mahindra
Others
24
70
65
60
50
40
HDFC
35
ICICI Reliance
SBI LIC
30
20
10
0
Interpretation:
Out of 100 candidates up to 65have invested in mutual fund with HDFC
& 35 have invested with ICICI. There is no investor who have invested
in mutual fund with any another company.
VAR00001
Observed N
Expected N
Residual
HDFC
65
50.0
15.0
ICICI
35
50.0
-15.0
Total
100
25
Test Statistics
VAR00001
Chi-Square
9.000a
df
Asymp. Sig.
.003
.
8
15-25
25-35
12
35-45
60
More than 45
20
26
60
60
50
40
30
15-25
25-35
35-45
More than 45
20
20
12
8
10
0
Interpretation:
60 investors are of age between 35-45. 20 are of age more than 45. 12
are of between of 25-35. 8 are of 15-25. This data shows that many
investors are of middle age & there are less investors of young age in
mutual fund.
27
One-Sample Statistics
One-Sample Test
Test Value = 0
t
N
Mean
Std. Deviation
Std. Error Mean
Sig. (2-tailed) Mean Difference 95% Confidence Interval of the
df
Difference
VAR00001
100
2.9200
.80000
.08000
Lower
VAR00001
36.500
99
.000
2.92000
2.7613
Upper
3.0787
1 lakh
2-4 lakh
10
4-5 lakh
20
More than 5
70
28
70
70
60
50
40 1 lakh
2-4 lakh
30
4-5 lakh
More than 5
20
20
10
10
0
Interpretation:
Up to 70 investors have income more than 5 lakh. 20 have between 4-5 lakh.10
investors have income between 2-4 lakh & there is no investor who have income up
to 1akh.
29
VAR00001
Observed N
1 lakh
Expected N
Residual
25.0
-17.0
2-4 lakh
12
25.0
-13.0
4-5 lakh
60
25.0
35.0
more than 5
20
25.0
-5.0
Total
100
Test Statistics
VAR00001
Chi-Square
68.320a
df
Asymp. Sig.
3
.000
30
5. From where you come to know about this companys mutual fund
schemes?
35
40
Company employee
15
Others
10
40
40
35
35
Family & relatives
30
25
20
15
15
10
10
5
0
Interpretation:
31
Many investors (up to 40) have been come to know about the company to be invested by
their friends & peers.35 have been known by their family & relatives .15have been come
to know by company employees & 10 by others. This means many have come to know by
their friends & peers.
VAR00001
Observed N
Expected N
Residual
35
25.0
10.0
40
25.0
15.0
Company employee
15
25.0
-10.0
Others
10
25.0
-15.0
Total
100
VAR00001
Observed N
Expected N
Residual
35
25.0
10.0
40
25.0
15.0
Company employee
15
25.0
-10.0
Others
10
25.0
-15.0
Total
100
32
33
0-1 year
15
1-2 year
35
2-4year
30
more than 4
20
35
35
30
30
25
20 0-1 year 15
20
1-2 year
2-4year
more than 4
15
10
5
0
34
Interpretation:
15 investors have time of investment less than one year. 20 have time duration of their
investment between of 1-2 year. 30 have between 2-4 year & 35 have more than 4 years.
So, we can say that 35 investors have more experience than others.
VAR00001
Observed N
Expected N
Residual
0-1 year
15
25.0
-10.0
1-2 year
35
25.0
10.0
2-4 year
30
25.0
5.0
20
Test Statistics
25.0
-5.0
more than 4
Total
100
VAR00001
Chi-Square
df
Asymp. Sig.
10.000a
3
.019
35
36
Highly satisfied
15
Satisfied
35
Neutral
30
Dissatisfied
15
Highly Dissatisfied
37
35
35
30
30
25
Highly satisfied
20
Satisfied
15
Neutral
Dissatisfied
15
15
10 Highly Dissatisfied
5
0
Response
Interpretation:
Out of 100 investors 15 are highly satisfied. 35 are satisfied. 30 are neutral towards
employee behavior of a company. 15 are dissatisfied. 5 are highly dissatisfied. We say
that many people are satisfied by employee behavior.
VAR00002
Observed N
Expected N
Residual
highly satisfied
15
20.0
-5.0
satisfied
35
20.0
15.0
neutral
30
20.0
10.0
dissatisfied
15
20.0
-5.0
20.0
-15.0
highly dissatisfied
Total
100
38
Innovator
20
Moderate
65
Risk adverse
15
65
70
60
50
40
30
20
15
20
10
0
Innovator
Moderate
Risk adverse
Interpretation:
20% investors are innovator means they like to take risk for more returns. 15% are
moderate towards risk means they are indifferent towards risk. 65% are risk adverse
means they mainly try to avoid risk.
39
VAR00002
Observed N
Expected N
Residual
innovator
20
33.3
-13.3
moderate
65
33.3
31.7
risk adverse
15
33.3
-18.3
Total
100
Test Statistics
VAR00002
45.500a
Chi-Square
df
Asymp. Sig.
.000
9. What you feel about the company norms, documentation & formalities?
Highly Satisfied
15
Satisfied
25
Neutral
40
Dissatisfied
15
Highly
dissatisfied
40
5%
Highly Satisfied
15%
15%
Satisfied
Neutral
25%
Dissatisfied
40%
Highly
Dissatisfied
Interpretation:
15% investors are highly satisfied by companys documentation policy
(filling up the forms etc.). 25% are satisfied, 40% never cares about it
or are moderate towards it , 15% are dissatisfied by it & 5% are highly
dissatisfied.
41
VAR00002
Observed N
Expected N
Residual
highly satisfied
15
20.0
-5.0
satisfied
25
20.0
5.0
neutral
40
20.0
20.0
dissatisfied
15
20.0
-5.0
20.0
-15.0
highly dissatisfied
Total
100
Test Statistics
VAR00002
Chi-Square
35.000a
df
Asymp. Sig.
4
.000
42
HDFC
68
ICICI
32
68
70
60
50
32
HDFC
40
ICICI
30
20
10
0
Interpretation:
According to collected data 68 investors thinks that HDFC provides better returns where
as 32 to think that ICICI provides better returns.
VAR00001
Observed N
Expected N
Residual
HDFC
68
50.0
18.0
ICICI
32
50.0
-18.0
Total
100
43
Test Statistics
VAR00001
12.960a
Chi-Square
df
Asymp. Sig.
.000
11. Would you like to exchange your investment with one another between
HDFC & ICICI?
Yes
No
15
85
44
85
90
80
70
60
50
Yes
No
40
30
15
20
10
0
Interpretation:
15 investors said that they would like to change their investment with each another
between HDFC & ICICI. But 85 investors say that they are ok with their companies and
they wouldnt like to exchange their investment.
45
VAR00001
Observed N
Yes
Expected N
15
No
85
Test Statistics
Total
Residual
50.0
-35.0
50.0
35.0
100
VAR00001
Chi-Square
49.000a
df
Asymp. Sig.
1
.000
46
47
CHAPTER-5
FINDINGS
In my research I have founded following things:
As the age increases investors are much satisfied, see more risk & become
more risk adverse.
Investors are not highly satisfied by company rules & employee behavior.
48
CONCLUSION
To conclude we can say that mutual fund is a very much profitable
tool for investment because of its low cost of acquiring fund, tax
benefit, and diversification of profits & reduction of risk. Many
investors who have invested in mutual fund have invested with
HDFC and them also thinks that it provides better returns than
ICICI .There is also an affect of age on mutual fund investors like;
old people & widows want regular returns than capital appreciation.
Companies can adopt new techniques to attract more & more
investors. In my study I was suppose to do comparative analyses the
mutual fund of HDFC &ICICI and I had found that people consider
HDFC better than ICICI. But ICICI have also respondents and it can
increase its investors by improving itself in some terms.
To conclude we can say mutual fund is a best investment vehicle for old &
widow, as well as to those who want regular returns on their investment.
Mutual fund is also better and preferable for those who want their capital
appreciation.
Both the companies are doing considerable achievements in mutual fund industry.
There are also so many competitors involved those affects on both companies.
49
RECOMMENDATION
In my study I have found some limitations. For that I can suggest both
companies following suggestions or areas of improvement:
ICICI bank should try to provide better returns to its investors as compare to
HDFC.
Both companies should try to invest in better securities for better profits.
Both companies should try to satisfy their customer by better customer service
or by improving customer relationship management.
Investors should be made fully aware of the concept of mutual fund & all the
terms and conditions.
50
REFERENCES
[1] Agrawal, D. (2006). Measuring Performance of Indian Mutual Funds. Prabandhan ,
179-185.
[2] Guha, S. (2008). Performance of Indian Equity Mutual Funds vis-a-vis their Style
Benchmarks. The
ICFAI Journal of Applied Finance, 49-81.
[3] Madhumathi, S. P. (2005). Characteristics & performance evaluation of selected
Mutual Funds in India.
9th Indian Institute of Capital Market Conference.
[4] Michael, C. J. (1967). The Performance of Mutual Funds in the period 1945-1964.
Journal of Finance , 389-416.
[5] Sharpe, W. (1966). Mutual Fund Performance. The Journal of Business , 119.
[6] Treynor, J. (1965). How to Rate Management of Investment Funds? Harvard Business
Review , 63-75.
[7] Sapar, Narayan Rao and Madava, Ravindran, Performance Evaluation of Indian
Mutual Funds. Available
at SSRN: http://ssrn.com/abstract=433100 or http://dx.doi.org/10.2139/ssrn.433100
[8] Rao, D. N., Investment Styles and Performance of Equity Mutual Funds in India
(August 6, 2006).
Available
at
SSRN:
http://dx.doi.org/10.2139/ssrn.922595
http://ssrn.com/abstract=922595
or
[9] Selvam, Murugesan and Palanisamy, Bhuvaneswari, Analysis of Risk and Return
Relationship of Indian
Equity (Dividend) Mutual Fund
http://ssrn.com/abstract=1862214
Schemes
(2011).
Available
at
SSRN:
51
[10] Agrawa, D. (2009). A Comparative Study of Equity Based Mutual Fund of Reliance
and HDFC.
Prabandhan , 145-154.
[11] http://www.amfiindia.com
[12] http://www.bseindia.com
[13] http://www.rbi.org.in
[14] http://www.mutualfundsindia.com
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QUESTIONNARE
1. What kind of investments you prefer most? Pl tick (). All applicable
a. Saving account
b. Fixed deposits
c. Insurance
d. Mutual Fund
f. Shares/Debentures
g. Gold/ Silver
h. Real Estate
I. PPF
j. PF
2. While investing your money, which factor you prefer most? Any one
Liquidity
Low Risk
High Return
Company reputation
No
If yes,
c) Where do you find yourself as a mutual fund investor?
Totally ignorant
[ ]
[ ]
[ ]
b. Peer Group
c. Banks
d. Financial Advisors
Open-ended
Liquid fund
Growth fund
Long-Cap
Close-ended
Mid- Cap
Regular Income fund
Sector fund
Higher risk
[ ]
[ ]
[ ]
Regular Income
[ ]
Tax benefit
[ ]
5. In which Mutual Fund you have invested? Please tick (). All applicable.
a. SBIMF
b. UTI
c. HDFC
d. Reliance
e. ICICI prudential funds
f. JM mutual fund
g. Other. Specify
6. When you invest in Mutual Funds which mode of investment will you prefer?
a. One Time Investment
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[ ]
Brokers/ sub-brokers
[ ]
Other sources
[ ]
General 1st
Oil and petroleum
Gold fund
xiii.
xiv.
Power sector
xv.
Debt fund
xvi.
Banking fund
xvii.
xviii.
General 1st
10. How would you like to receive the returns every year?
a. Dividend payout
b. Dividend re-investment
c. Growth in NAV
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(b). Add: -
Contact No:-
Under Graduate
Others
Pvt. Sec
Business
Agriculture
Others
Rs. 10,001 to
15000
Rs. 15,001 to
20,000
Rs. 20,001 to
30,000
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THANK YOU
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