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This is to certify that Mr. Kamal Agrawalla Regd. No.: 1406284033 a student of
Master in Business Administration from Astha School of Management has
done his summer training in our organization NJ India Invest Pvt. Ltd. at
Bhubaneswar Branch. The training commenced from 15 th June 2015 and was
completed on 31st July, 2015.
The project work is entitled A study on Mutual Fund as a Wealth
Creation Tool embodies the original work done by during his summer training

Name: Mr. Krushna Chandra Kar

Company Guide
Head Training division


This is to certify that the project report titled A study on Mutual Fund as a Wealth
Creation Tool is a bonafide and original work of Mr. Kamal Agrawalla a student of
MBA, Batch 2014-16, bearing Regd. No. 1406284033. Certified further, that to the
best of my knowledge the work reported herein does not form part of any other
project report or dissertation on the basis of which a degree or award was conferred
on an earlier occasion on this or any other candidate.

Signature of Guide

Candidate Signature


Certificate that Mr. Kamal Agrawalla, Regd. No: 1406284033 has carried out the
project work presented in the project report entitled A study on Mutual Fund as
a Wealth Creation Tool for the award of Master in Business Administration
from Astha School of Management, Bhubaneswar under my supervision. The
project report embodies result of original work and studies carried out by the
student himself and the content of original project report do not form the basis for
the award of any other degree to the candidate or to anybody else.


Prof. Mr. Sandeep Mishra

Project Guide
Faculty in Finance
AsthaSchool of Management

I, Kamal Agrawalla hereby declare that the project report titled A study on
Mutual Fund as a Wealth Creation Tool is a genuine research work undertaken
by me and it has not been published anywhere earlier.


Kamal Agrawalla

I would like to express my gratitude to all those who gave me the opportunity
to complete this project. I would like to thank my Institute authorities and my
Internal guide Prof. Mr. Sandeep Mishra first for providing me the opportunity to
work with one of the most prestigious organization.

I would like to thank the Company Guide Mr. Krushna Chandra Kar and
other executive of
NJ INDIA INVEST PVT. LTD. who gave and confirmed this
permission and encouraged me to go ahead with my training. I want to thank the
Branch Manager Mr. Manoranjan Sahoo for giving me permission to commence
this summer training project in the first instance.

I am deeply indebted to my Faculty Guide Prof. Mr. Sandeep Mishra whose

constant help, stimulating suggestions and encouragement helped me in giving the
final shape to this project.

I would like to give my special thanks to my parents; their constant support

enabled me to complete this project work.

Kamal Agrawalla


The first introduction of a Mutual Fund in India occurred in 1963, when the Govt. of India launched Unit
Trust of India (UTI). Until 1987, UTI enjoyed a monopoly in the market. Then a host of other
government-controlled Indian financial companies came up with their own funds. These included state
bank of India, Canara Bank, and Punjab National Bank. This market was made upon to private payers in
1993, as a result of the historic constitutional amendments brought forward by the then congress-led
government under the existing regime of Liberalization, Privatization and Globalization (LPG). The first
private sector fund to operate in India was Kothari pioneer, which later merged with Franklin Templeton.
An Investment vehicle that is made up of a pool of funds collected from many investors for the
purpose of Investing in securities such as stock, bonds, money market instrument and similar assets.
Mutual funds are operated by money managers, who invest the funds capital and attempt to produce
capital gains and income for the funds investors. A mutual funds portfolio is structured and maintained to
match the investment objective stated in its prospectus.
A Mutual fund advisor is essentially a person who provides advisory and/or distribution services
in Mutual funds. Normally he is a person who sells schemes of multiple fund houses.
The person or company responsible for making investments on behalf of, and/or providing, advises to
In the context of mutual fund business, an advisor also known as an investment advisor is an organization
employed by an investment company to manage a particular funds portfolio. A funds advisor assigns a
manager(s) to make the day to day decision in the purchase and sale of a funds securities according to
stated strategies and investment objectives.


An objective provides a specific direction to an activity. Objectives may range from very general to very
specific, but they should be cleared enough to point out with reasonable accuracy what researcher wants
to achieve through the study and how it will be helpful to the decision maker in solving the problems.
In Odisha must of the people have their traditional faith on Bank, Insurance. Mutual funds are an
emerging sector but a few people come forward for it.

To find out the Investment preference in Mutual Fund of the respondent.
To check the percentage of respondent aware about Mutual Fund.
To find out the best fund in different category and there performance.

About NJ India Invest

NJ India Invest Pvt. Ltd. Is one of the leading advisors and distributors of financial products and services
in India. Established in year 1994, NJ has over a decade of rich exposure in financial investments space
and portfolio advisory services. Fromm a humble beginning, NJ over the years has evolved out to be
professional managed, quality conscious and customer focused financial/Investment advisory &
distribution firm.
NJ prides in being a professionally managed, quality focused and customer centric organization. The
strength of NJ lies in the strong domain knowledge in investment consultancy and the delivery of
sustainable value to clients with support from cutting edge technology platform, developed in-house by
At NJ they believe in
Having single window, multiple solutions that are integrated for simplicity and sapience
Making innovations, accessions, value-additions, a constant process
Providing customers with solutions for tomorrow which will keep them above the curve, today






Location Name: Bhubaneswar


Corporate Office: 9 Floor, B Tower,

Plot No.1258,

Udhna Udyog Nagar Sangh Commercial


Chandan Villa,

Central Road No.10, Udhna,

Unit-9, Road No 8,

Surat- 394210

City: Bhubaneswar-751022


State: Odisha
Country: India
Phone: 91-674-3261103

NJ Funds Network
NJ Funds Network has been playing a pioneering role in India in providing independent advisors/advisory
firms with integrated, comprehensive and practical business solutions for ensuring continuous growth and
continuity of business. It provides the Financial advisors and the institutions that serve them with insights,
strategies and tools to help them significantly growth their businesses. How do we do it? Thats because
we understand how financial and wealth management businesses work and what is needed to manage,
monitor and grow the practice.
Vision and Mission

Creating wealth Transforming Lives

Total Customers Satisfaction
Commitment to Excellence
Determination to Succeed with strict adherence to compliance
Successful wealth creation of our customers

They work towards building trusted relationship with our stakeholders, for inclusive growth through
constant process of innovation; time bound implementation and execution of ideas and technological
developments. They stretch our means and go overboard to make sure that our clients aspirations, dreams
and expectation are met with, through high service standards.


Mr. Neeraj Choksi - Joint Managing Director
Mr. Jignesh Desai - Joint Managing Director






At NJ their service and investing thinking is inspire and shape the thoughts, attitude, actions and decisions
of their employees. If NJ would beliefs, at NJ our service and investing idea inspire and shape resembles
a body; our philosophy would be our spirit which drives their body.
Service viewpoint:
Their primary measure of success is customer satisfaction. Their committed to provide their customers
with continuous, long-term improvements and value-additions to meet the needs in an exceptional way. In
their efforts to consistently deliver the best service possible to their customers, so that all employees of NJ
will make every effort to:

Think of customer first, take responsibility, and make promote service to the customer a priority.
Deliver upon the commitments and promises made on time.
Anticipate, visualize, understand, meet, exceed their customer needs.
Bring energy, passion and excellence in everything they do.
Be honest and ethical, in action & attitude, and keep the customers
Interest supreme.
Strengthen customer relationships by providing service in a thoughtful and proactive manner and
meet the expectation and effectively.

Investing Viewpoint
They aim to provide need-based solution for long-term wealth creation they aim to provide all customers
of NJ, directly or indirectly, with true, unbiased, need-based solution and advise that best meets their
stated & un-stated needs. In their efforts to provide quality.

Financial &Investment Advice, we believe that

Clients want need-based solutions, which fits them

Long-term wealth creation is simple and straight
Asset-allocation is the ideal & the best way for long-term wealth Creation.
Educating and disclosing all the important facets which the
Customer needs to be aware of, is important
The solutions must be unbiased, feasible, practical, executable, Measureable and flexible
Constant monitoring and proper after-sales service is critical to Complete the ongoing process.

At NJ their aim is to earn the trust and respect of the employees, customers, partners, regulators and the
community at large by following their service and investing philosophy with commitment and without
The Management at NJ brings together a team of people with wide experience and knowledge in
the financial services domain. The management provides direction and guidance to the whole
organization. The Management has strong visions for NJ as a globally respected company providing
comprehensive services in financial sector.
The Customer First philosophy in deeply ingrained in the management at NJ. The aim of the

Range of products and services offered

Quality Customer Service

All the key members of the organization put in great focus on the processes & systems under the diverse
functions of business. The management also focuses on utilizing technology as the key enabler for all the
activities and to leverage the technology for enhancing overall customer experience.
People & Culture:
Enthusiasm, Enterprise, Education and Ethics form the four pillars at NJ. At NJ one can witness
the vibrant energy, enthusiasm and enterprising drive to excel flowing freely throughout the
organization. At NJ can also experience the creativity, one-to-one responsiveness, collaborative

approach and passion for delivering value.

At NJ people evolve to be more effective, efficient , and result oriented. Knowledge is more
inherent due to the education-centric approach and the experience in handling different clients
groups across dierse product profiles.

NJ understands that the people are the most important assets of the company and it is not the
company that grows but the people. NJ hence undertakes rigorous training and educational

activities for enhancing the entire team at NJ.

NJ also believes in the Learning through Responsibility concept for its employees. For people at
NJ success is not a new word, but is a regular stepping-stone to realizing the one vision that
everyone shares.

At NJ they believe in transforming the lives of their customers. They exist to create a difference-a

change towards a better life.

The culture at NJ reflects this responsibility, this dream of transforming lives. And they at NJ are
always excited and enthused in doing so. They believe in keeping you first and providing you
with products and services that meet your stated and unstated needs. Client satisfaction and client
service is the Mantra they constantly recite. This service oriented philosophy runs throughout the

organization, from top to bottom. Employees are given ample freedom in their work.
The objective is to keep an open, healthy environment with ample scope for enterprise,
improvement, innovations and out-of-the box efforts are constantly engaged in improving our
existing services, offering new and innovative solutions that go beyond your expectations. This
focus has made them one of the most respected and preferred service providers, especially in the
mutual fund industry.

Service Standards
Service in words, service in action
Service is the key to unlocking customer satisfactions, which again is key for sustainability of any
business. At NJ they understand this very well. NJ has set strict processes in place to deliver quality
services to customers. At NJ strict quality service standards are set and a well-defined Performance is
evaluated on a frequent basis and glitches are ironed out. But quality service also involves quality people
in addition to processes. NJ gives significant focus to the proper training and development of the people
involved in the service delivery chain.

Wealth Advisors Network

The NJ Wealth Advisors Network is among Indias largest and most successful network of
advisor in the financial services industry. The NJ wealth advisory platform is a comprehensive

360o platform offering end-to-end solutions required for a successful wealth advisory practice.
Started in 2003 the network seeks to reach out to the common man and extend the opportunity to

create wealth through sound investments principles and strategies.

The NJ wealth advisors network today has over 21,000+ Advisors, called as NJ partners, spread
across India catering to over 12 lakhs+ investors and having an AUA close to Rs.22,000+ Crores.
The platform offers partners with a basket of wealth products in addition to comprehensive

solutions in all important areas of business, backed by cutting edge IT services.

NJ wealth advisors network has its presence in over 100+ locations in India. The key offerings of
the NJ wealth advisory platform are briefly mentioned here.

Product basket

Domestic Mutual Fund Companies (All AMCs)

Fixed Deposits Of Companies
PMS Products (Third Party & NJ)
Government/RBI/Infrastructure Bonds
Residential &Commercial Properties

Partner services

Dedicated Relationship Manager

Marketing and Sales Support
Research support
Training & Education Support

Dedicated Customer Care / Query management support

Technological support, including online business/partner Desk with CRM, financial planning &
Employee Management modules.

Asset Management

NJ has ventured in asset management business with NJ Advisory Services Pvt. Ltd., a group

company launching its discretionary PMS products.

At the heart of NJ Advisory Services is the idea to provide customers with solutions that give the
freedom from active management of investment while having an assurance that we would be

doing so in the best possible manner. Our conviction, matched by our passion and expertise, is all
about ensuring the peace of mind of the investors. The PMS products currently offered are aimed
at meeting investors need for successful long-term wealth creation by following strategies that

control risk and optimize returns in a mutual fund portfolio.

NJ Advisory services leverages upon with its rich experience in portfolio management with in
depth knowledge and expertise in mutual funds. The decisions on the mutual fund portfolio also

combine results of time tested proprietary research models.

The defined processes and smart use of technology further ensures that the investors are offered
with quality portfolio management and administrative services, ensuring a complete peace of

1. Freedom Portfolio:
Objective: To stay invested in equity mutual fund schemes at all times, deliver superior portfolio
returns by selecting better performing schemes and encasing on opportunities offered by market.
2. Dynamic Asset Allocation Portfolio
Objective: To give better risk adjusted returns by deciding right proportion of Equity and Debt asset
classes from time to time, and selecting consistently better performing mutual fund schemes.
Key customer services:

Online client PMS Desk with daily update reports

Reporting on monthly, quarterly& annual basis through email and hard copies

Real Estate

The NJ realty venture offers an integrated service model offering end-to-end services to various
stake-holders in realty program management & execution. The idea is to associate with
stakeholders and engage actively in various stages of program management, viz,market survey,
legal due diligence, land acquisition, planning & execution of projects and managing sales and
distribution through NJ Wealth Advisors Network.

As a developer, Investor or land owner, one may be keen to execute realty projects, but may not
be equipped with the right skill-sets, contacts, experiences and know-how far the undertaking.
This is where NJ Realty can associate and help in shaping up the realty programs. NJ realty has
acquired considerable experience in program management and is also currently engaged in

multiple programs playing diverse roles.

At the heart of NJ Realty is philosophy of sustainability an preservation of environment. Going
beyond words, NJ realty seeks to keep environment as one of the local points in its real estate

Insurance Broking

NJ Insurance Broking Pvt. Ltd., a licensed insurance broker by IRDA, seeks to provide customers

with comprehensive solutions catering to their insurance needs.

At the heart of NJ, insurance is the strong vision for continued financial well-being for
customers-individuals and families, regardless of any circumstances. The key is to offer right
advise which is unbiased and customers centric and encompasses the right risk to insure, the right

coverage, the right product and at the right time.

NJ Insurance Brokers has appointed Certified Insurance Advisors (CIAs) who work with

customers in identifying, fulfilling & managing their insurance needs.

NJ offers comprehensive baskets of products both in life & non-life insurance space and makes
exhaustive use of technology to deliver great value to customers.

Product basket:

Life insurance products from leading life insurers

General insurance products, especially Health, Motor & Personal Accident, from leading general

Information Technology

NJ Technologies is a latest venture by NJ wherein we aim to provide quality technology solutions

to businesses in a wide range of domains.

NJ started its journey in technology with the start of Fin logic Technologies (India) Pvt. Ltd., a
group company, in year 2000. The idea then was to develop software applications to support the

growing (financial services) distribution business and manage the IT infrastructure.

Today, Fin logic team boasts of over 250+ employees with skills & rich experience in product
development, software testing, infrastructure management, R&D, Project Management and
Information security. The entire NJ groups internal systems and infrastructure is managed by Fin
logic which also has developed many state-of-the art, proprietary applications that power NJs

NJ Technologies now seeks to leverage these in-house skills and expertise to help other
businesses find solutions for their business challenges. At NJ Technologies, we are keen to adopt
the latest and the best practices from the industry in delivering solutions that really work for

Solutions for businesses:

Infrastructure Set-up and Management

Database Management
Customized Application Development
Software Quality Assurance
Information Security

Training & Development

The NJ Gurukul is a venture aimed at providing at valuable training and education support to the
young, emerging talent pool in India. Started in year 2007, NJ Gurukul today offers a very wide

range of training programs across India in all major cities.

NJ Gurukul is about a vision that aspires to nurture the young talent in India and to transform
them into individuals with knowledge & skills for employment and enterprise. With special focus
on the financial advisors community, NJ Gurukul today, is a leading provider of training
programs by way of part/fulltime classroom sessions being conducted at multiple locations across
India. NJ Gurukul has an institutionalized, process driven approach to training with focus on

delivering uniformity in quality and content.

The NJ Gurukul has a Board of Trainers with over 35* well qualified, professional trainers
empanelled across India for delivering training programs. Within a short time, NJ Gurukul has
trained over 30,000* participants in over 50* locations across India.

NJ Gurukul is an authorized Education Provider (EP) with FPSB India to deliver training for the
prestigious Certified Financial Planner- CFPCM Certification. NJ Gurukul is also amongst the
largest trainers of Mutual Fund Distributors in India.

Key Training Programs:

Mutual Fund Distributors Certification by NISM for prospective NJ Wealth Advisors

Certified Financial Planner (CFPCM) Certification by FPSB India
Certified Personal Financial Advisor (CPFA) Certification by NISM

NJ Client Desk
Managing wealth is not easy, especially with the ever growing needs and products. In this fast paced
world, there is a needed for simplicity and consolidation. The need is to stay ahead, stay in control.
NJ Client Desk offers you a comprehensive, flexible account which consolidates all your portfolio
information in a single window in a simple lucid manner. It keeps you informed of key features of Client
1. Online Access
Now you can store all your portfolio, transaction information in multiple products through NJ
Client Desk and get access anytime, anywhere
2. Meaningful Portfolio Reports
It enables you to accede insightful reports that you need to know about your portfolio and take
informed investment decisions.

NJ Fundz 360 Degree Support

The NJ Wealth Advisors Network is among India's largest and most successful network of
advisors in the financial services industry. The NJ Wealth Advisory Platform is a comprehensive, 360
platform offering end-to-end solutions, required for a successful wealth advisory practice.


Partner Zone

NJ Fundz Network, leading financial advisor & wealth advisors network India provides platform for
Investments Advisory Services is delighted to offers a multiple product range for your customers with 360
degree support in Technology, Sales, Marketing, Customer, Training & Research which can take your
advisory to the next level and will give you an edge over your competitors:
1.1 Technology Support
At NJ, through our technological platform we try to increase our deliverables for our business
partners and their investors.
Through our technological platform, you get multiple types of reports like valuation reports,
business MIS reports, revenue reports and other customized businesses reports to keep track of
your growing business.
It also allows you to do online transactions with minimal human interventation.
1.2 Sales Support
As building yours brand in the market is very important in todays competitive world, NJ through
its exclusive sales support helps you to increase your visibility in the market place that can be
useful in your branding exercise.
Every NJ Fundz Network partner is provided with a Relationship Manager who remains in touch
with him on a regular basis to provide all necessary information and support of providing sales
materials, application forms etc. Apart from regular sales support on a daily basis,
1.3 Marketing Support

Marketing your services and products is another important aspect of growing your business. NJ
understands this need and provides market support through NJ print shop. NJ print shop provides multiple
branding materials which you can order through your partner desk. Few of the marketing material
available are:

Your branded flyers, one pager about a product.

Marketing material during a New Fund Offering.
Client centric letters mailers and mass SMS for your investors
Effective and Impressive financial tools and calculators.
Branded presentations for your clients.
NJ aims to support the NJ Fundz Partner in marketing in directly by contributing through written
articles, advertisements in various magazines, newspapers, etc.

I.4 NJ Does
Regular sales meet for your clients
Regular partner meet by investing an industry expert to gain market insight.
Doing joint calls for you whenever required
I.5 Customer Support
As it rightly said that Customer is King & solving all your clients investment related queries is
easy & just a phone call away as our customer care executives remain available to answer and
solve your queries in NJ customer care No- 1800-2000-155.
I.6 Training Support
Through NJ Gurukul, we conduct training sessions for our partners and their employees to impart
technical skis and techniques. These training programs can also be tailor made and customized. For
instance, NJ Gurukul provides CPF training, Mutual fund Advisor training to Independent financial
advisors in India & also helps AMFI aspirants to appear for AMFI exam.

I.7 Research Support

NJ believes in providing unbiased investments advisory services based on single most important
principle of asset allocation.
The Research Team Does:
In depth analysis of scheme performance
Investment philosophy of the scheme
Due to Diligence of AMC
Practices followed by fund management team of the AMC
Service standards
Creditworthiness of trustees.

NJs research team puts hard work behind deciding recommended set of scheme for partners and

Definition of Mutual Funds:

A Mutual Fund is a mediator that brings together a group of people and invests their money in stocks,
bonds and other securities.
Each Investor owns shares, which represents the portion of the holdings of the funds. Thus, a mutual fund
is one of the most viable investment for the common man as it offers an opportunity to invest in a
diversified, professionally managed basket of securities at a relatively low cost.
A Mutual Fund is a company that brings together money from many people and invests it in stocks, bonds
and other assets. The combined holdings of stock, bonds and other assets the fund owns are known as its
Portfolio. Each investor in the fund owns share, which represents a part of these holdings.
An Investment vehicle that is made up of a pool of funds collected from many investors for the purpose of
investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual Fund
are operated by Money managers, who invest the funds capital and attempt to produce capital gains and
income for the funds investors. A Mutual Funds Portfolio is structured and maintained to match the
investment objective stated in its prospectus.

A Mutual Fund actually belongs to the Investors who have pooled their funds.
A Mutual Fund is managed by Investment Professionals and other service providers, who earn a
fee for their services, from the fund.
The pool of the fund is invested in a portfolio of Marketable Investments. The value of the
Portfolio is updated every day.

Concept of Mutual Funds

A Mutual Fund is a trust that pools the savings of a number of Investors who share a common financial
goal. The money thus collected is then invested in capital market instruments such as shares, debentures
and other securities. The income earned through this investments and the capital appreciation realized are
shared by its unit holders 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 a relatively low cost. The flow chat below describes
broadly the working of a Mutual Fund:

Mutual Fund Operation Flow Chart

Types of Mutual Fund

1. Index fund
Index funds invest in securities to mirror a market index such as the S&P 500. An index fund buys
and sales securities in a manner that mirrors the composition of the selected index. The funds
performance tracks the underlining indexs performance. Turnover of securities in an index funds

portfolio is minimal. As a result, an index fund generally has lower management costs than other
types of funds.

2. Growth Fund
A Growth fund invests in the stock of companies that are growing rapidly. Growth companies tend to
invest all or most of their profits for research and development rather than pay dividends. Growth
Fund is focused on generating capital gains rather than income.

3. Value Fund
This is a fund that invests in value stocks. Companies rated as value stocks usually are older,
established businesses that pay dividends.

4. Sector Fund
A fund that invests in one area of industry is called a sector fund. Most sector funds have a minimum
of 25% of their assets invested in its specialty. These funds offer high appreciation potential, but may
also pose higher risk to the investor. Examples include Gold Funds (Gold minimum stock),
Technology Funds and Utility Funds.

5. Income Funds
An equity income fund stresses current income over growth. The funds objective may be
accomplished by investing in the stocks of companies with long histories of dividend payments such
as utility stocks, blue-chip stocks, and preferred stocks.
Option income funds invests in securities on which options may be written and earned premium
income from writing options they may also earn capital gains from trading options at a profit. These
funds seek to increase total return by adding income generated by the options to appreciation on the
securities held in the portfolio.

6. Balanced Fund
Balanced funds invest in stocks for appreciation and bonds for income. The goal is to
provide a regular income payment to the fund holder, while increasing its principal
7. Asset Allocation Fund
These funds split investments between growth stocks, income stocks/bonds, and money market
instruments or cash for stability. Fund advisers switch the percentage of holding in each asset
category according to the performance of that group.

Example: A fund may have 60% invested in stocks, 20% in bonds, and 20% in cash or money
market. If the stock market is expected to do well, that could switch to 80% stocks and 10% each
in both bond and cash investments. Conversely, if the stock market is expected to perform poorly,
the fund would decrease its stock holdings.

8. Fund Of Funds
Fund of funds implies that the assets of a fund are other funds. The other funds may be stock
funds, in which case the original fund can be called fund of stock funds. See fund of funds.

9. Hedge Funds
Hedge Fund is a legal structure. Hedge funds often trade stocks, but may trade or invest in
anything else depending on the fund. This is done to reduce the risk of investments in stocks.


Wealth creation over the years has changed its avenues and area of interest for the investors in
India. The prototype investment where the post offices and typically the scheduled banks through savings
and fixed deposits have changed and with the awareness of finance, Mutual fund has became an excellent
route to create wealth for the public at large.
Mutual fund is a pool of money is invested in accordance with the common objective stated before the
investment to the investors.
Here is the concept of mutual fund which is a suitable for the common man as it offers an opportunity to
invest and diversified, professionally managed basket of securities comparatively at low cost. The
investors pool their money to the fund manager and the fund manager invests the money in the securities
and after generating returns passed back to the investors.

The mutual fund has a structure which is regulated by SEBI and the association of Mutual Funds of India
(AMFI) plays an advisory role for the mutual funds. There are lot of entities involved in between Unit
Holders and SEBI which includes Sponsors, Trustees, Asset Management Company(AMC), Mutual Fund,
Transfer Agent and Custodian.
Basically there are only two types of mutual fund in the industry:

Open Ended
Close Ended

Open ended funds are those where investors sell and repurchases units at all times, commonly known as
Unit Trusts in UK and mutual fund in USA.
Close ended funds are generally fixed as it makes a one-time sell of fixed no. of units, known as
Investment Trusts in UK and Investment Company in USA.
There on Mutual Funds have been divided into more subcategories Load and No-load funds, Tax-exempt
and Non-tax-exempt, money market/liquid funds, Gilt funds, diversified debt funds, focused debt funds,
High yield debt funds, Assured return funds, Fixed term plan series, Equity funds and so on.
The diversification has been broadened with the revolution and Mutual Fund has become a major
Investment destination by yielding more returns. I would like to conclude the article with a note that
Mutual Fund as an Investment destination is gaining momentum and in future Mutual Fund must emerged
as a strong capital appreciation tool for the purpose of Financial Planning.

Constitutes Of Mutual Funds:

It is mainly of five types:

The sponsor is akin to a promoter of a company as he gets the Mutual Funds registered with SEBI. The
Sponsor is defined under SEBI regulation as a person who, acting alone or on combination with another
body corporate, establishes a Mutual Fund. The sponsor forms a trust, appoints the board of trustees, and
has the right to appoint the Asset Management Company (AMC) or Fund Manager.

The Mutual Fund can be managed by a board of trustees or a trustee company. The board of trustees is
governed by the Indian Trust Act whereas a trust company is governed by the Companies Act, 1956. The
trustees act as a protector of unit holders interests. They do not directly manage the portfolio of securities
and appoint an AMC (with approval of SEBI) for fund management. If an AMC wishes to float additional
or different schemes, it will need to be approved by the trustees.
Trustees play a critical role in ensuring full compliance with SEBIs requirements.

Asset Management Company:

The AMC is appointed by trustees for managing fund schemes and corpus. An AMC functions under the
supervision of it own board of directors and also under the direction of trustees and SEBI. The market
regulator has mandated the limit of independent directors to ensure independence in AMC workings.
The major obligations of AMC include: Ensuring investments in accordance with the trust deed,
providing information to the unit holders on matters that substantially affect their interest, adhering to risk
management guidelines as given by the Associations of Mutual Funds in India and SEBI, timely
disclosures to unit holders on sell and repurchase, NAV, portfolio details, etc.

Custodian and Depositories:

The Fund management includes buying and selling of securities in large volumes. Therefore, keeping a
track of such transactions is a specialist function. The custodian is appointed by trustees for safe-keeping
of physical securities while dematerialized securities holdings are held in a depository through a
depository participant. The custodian and depositories work under the instruction of the AMC, although
under the overall direction of trustees.

Registrar and Transfer Agents:

These are responsible for issuing and redeeming units of the Mutual Fund as well as providing other
related services, Such as preparation of transfer documents and updating investor records. A fund can
carry out these activities in-house or can outsource them. If it is done internally, the fund may charge the
scheme for the service at a competitive market rate.




The first introduction of a Mutual Fund in India occurred in 1963, when the Government of India
launched Unit Trust of India (UTI). UTI enjoyed a monopoly in the Indian Mutual Fund Market. Then a
host of other government-controlled Indian financial companies came up with their own funds. These
included State Bank of India, Canara Bank and Punjab National Bank. This market was made open to
private players in 1993, as a result of the historic constitutional amendments brought forward by the
Congress-led government under the existing regime of Liberalization, Privatization and Globalization
(LPG). The first private sector fund to operate in India was Kothari Pioneer, which later merged with
Franklin Templeton.

ABN AMRO Mutual Fund:ABN AMRO Mutual Fund was setup on April 15, 2004 with ABN AMRO
Trustee (India) Pvt. Ltd. As the Trustee company. The AMC, ABN AMRO Asset
management (India) Ltd. was incorporated on November 4, 2003. Deutsche
bank A G is the custodian of ABN AMRO Mutual fund.

Birla sun life Mutual fund:Birla Sun Life Mutual Fund is a joint venture between the Aditya Birla
Group and the Sun Life Financial Services Inc. of Canada. The joint venture
brings together the Aditya Birla Group's experience in the Indian market and
Sun Life's global experience.
Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's
leading flagships of Mutual Funds business managing assets of a large
investor base. Our solutions offer a range of investment options, including
diversified and sector specific equity schemes, fund of fund schemes, hybrid
and monthly income funds, a wide range of debt and treasury products and
offshore funds.

BARODA PIONEER MUTUAL FUND:A partnership of two heritage companies, Pioneer and Bank of

Bank of Baroda entered into an agreement on 5 October 2007 with Pioneer

Investments and consequent to the agreement and regulatory approvals, the

Fund and the AMC is called Baroda Pioneer Mutual Fund and Baroda Pioneer
Asset Management Company Limited respectively.

HDFC Mutual funds:HDFC Asset Management Company Ltd (AMC) was incorporated
under the Companies Act, 1956, on December 10, 1999, and was approved
to act as an Asset Management Company for the HDFC Mutual Fund by SEBI
vide its letter dated July 3, 2000.

ING VYSYA Mutual fund:ING VYSYA Mutual Fund was setup on February 11, 1999 with the
same name trustee company. It is a joint venture of VYSYA and ING. The
AMC, ING Investment management (India) Pvt. Ltd. was incorporated on April
6, 1998.

ICICI PRUDENTIAL mutual fund:ICICI Prudential Asset Management Company Ltd. (IPAMC/ the
Company) is the joint venture between ICICI Bank, a well-known and trusted
name in financial services in India and Prudential Plc, one of UKs largest
players in the financial services sectors. IPAMC was incorporated in the year
1993. The Company in a span of over 18 years since inception and just over
13 years of the Joint Venture has forged a position of preeminence in the
Indian Mutual Fund industry as the third largest asset management company
in the country, contributing significantly to the growth of the Indian mutual
fund industry.

SAHARA Mutual fund:Sahara India Financial Corporation Limited, (SIFCL) is the flagship
company of Sahara India Group. Incorporated in 1987, SIFCL is the First
Residuary Non-Banking Company (RNBC) in India that has been granted
certificate of registration by RBI and is considered to be a leading public
deposit mobilization company in the Private sector. The Sahara India Group
has over the years emerged as a multi-service and multi-product business
conglomerate with diverse interests in fields such as Life Insurance, Para
banking, Housing, Infrastructure & Tourism, Consumer Products, Media &
entertainment, Consumer Products, Manufacturing, Services and Trading

State Bank of India:-

SBI Funds Management has been successfully managing and advising

India's dedicated offshore funds since 1988. SBI Funds Management was the
1st bank sponsored asset management company fund to launch an offshore
fund called 'SBI Resurgent India Opportunities Fund' with an objective to
provide our investors with opportunities for long-term growth in capital,
through well-researched investments in a diversified basket of stocks of
Indian Companies.

Tata Mutual Fund:Kotak Mahindra is one of India's leading financial institutions, offering
complete financial solutions that encompass every sphere of life. From
commercial banking, to stock broking, to mutual funds, to life insurance, to
investment banking, the group caters to the financial needs of individuals
and corporate. The group has a net worth of Rs.7,911 crore and employs
around 20,000 employees across its various businesses, servicing around 7
million customer accounts through a distribution network of 1,716 branches,
franchisees and satellite offices across more than 470 cities and towns in
India and offices in New York, California, San Francisco, London, Dubai,
Mauritius and Singapore.

Unit Trust of India Mutual Fund:January 14, 2003 is when UTI Mutual Fund started to pave its path
following the vision of UTI Asset Management Co. Ltd. (UTIAMC), which was
appointed by UTI Trustee Co, Pvt. Ltd. for managing the schemes of UTI
Mutual Fund and the schemes transferred/migrated from the erstwhile Unit
Trust of India.

Reliance Mutual Funds:Reliance Mutual Fund ('RMF'/ 'Mutual Fund') is one of Indias leading
Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 90,636
Crores and an investor count of over 58.42 and 64.53 Lakh folios. (AAUM and
investor count as of Oct to Dec '12). It was registered on June 30, 1995 as
Reliance Capital Mutual fund which was changed on March 11, 2004.

Standard Chartered Mutual Fund:Standard Chartered Mutual fund was set up on March13, 200
sponsored by Standard Chartered bank.

Franklin Templeton India Mutual Fund:-

The company was founded in 1947 in New York by Rupert H. Johnson,

Sr., who ran a successful retail brokerage firm from an office on Wall Street.
He named the company for US founding father Benjamin Franklin because
Franklin epitomized the ideas of frugality and prudence when it came to
saving and investing. The company's first line of mutual funds, Franklin
Custodian Funds, was a series of conservatively managed equity and bond
funds designed to appeal to most investors.
Franklin Templeton's association with India dates back to more than a
decade as an investor. As part of the group's major thrust on investing in
markets around the world, the India office was set up in 1996 as Templeton
Asset Management India Pvt. Limited. It flagged off the mutual fund business
with the launch of Templeton India Growth Fund in September 1996, and
since then the business has grown at a steady pace.

Morgan Stanley Mutual Fund:Starting as a small firm of 20 in 1935 in New York, and growing to an
international workforce of over 54,000 people around the world, Morgan
Stanley is a leader in providing the finest in financial thinking, products and
execution for companies, governments and institutional investors from
around the globe. Our people, thought leadership and product offerings
across Investment Management, Investment Banking, Sales and Trading,
Prime Brokerage and Research serve the diverse needs of our clients and are
consistently ranked best in class across the industry.
With more than 1200 offices in 36 countries, Morgan Stanley connects
people, ideas, and capital to help clients achieve their financial aspirations.
One of the largest global asset management organizations with assets under
management or supervision of $341 billion (March 31, 2013) .

Escorts Mutual Fund:Escorts Mutual Fund is the premier Asset Management Company
offering Investment products across a broad cross-section of Financial Assets
covering both Debt and Equity. It was registered with Securities and
Exchange Board of India (SEBI) in 1996.The Company is the one of the
earliest entrants into the Indian Mutual Funds Industry.
It is associated with Escorts Group - with Escorts Limited as its Flagship
Company, which is amongst India's leading corporations, operating in diverse
fields of Agri-Machinery, Construction and Railway Ancillaries and Financial

Escorts Mutual Fund has been established as a trust in accordance with

the provisions of the Indian Trusts Act, 1882 and the Deed of Trust dated
15th April, 1996 has been registered under the Indian Registration Act, 1908.

Alliance Capital Mutual Fund:Alliance Capital Mutual Fund (ACMF) has been constituted as a trust in
accordance with the provisions of the Indian Trust Act, 1882. The Mutual
Fund was registered with SEBI on December 30, 1994.

LIC Mutual Fund:LIC Mutual Fund was set up by the Life Insurance Corporation of India on
20th April 1989 to engage in the business of Mutual Fund and in order to
achieve this objective to engage in any other activity or business permitted
or authorized. The Fund continues to work towards realizing this objective.
The Fund was governed by a Board of Trustees earlier and is governed with
effect from 8th April 2003 by LIC Mutual Fund Trustee Company Pvt. Ltd.
(Trustee Company) on its incorporation under The Companies Act, 1956.

Association of Mutual Funds in India (AMFI)

With the increase in Mutual Fund players in India, a need for Mutual Fund
association in India was generated to function as a non-profit organization.
Association of Mutual funds in India (AMFI) was incorporated on 22 nd August, 1995.
AMFI is an apex body of all Asset Management Companies (AMC) which has been
registered with SEBI. Till date all the AMCs are that have launched Mutual Fund
schemes are its members. It functions under the supervision and guidelines of its
Board of Directors.
Association of Mutual Funds in India has brought down the Indian Mutual Fund
Industry to a professional and healthy market with ethical lines enhancing and
maintaining standards. It follows the principle of both protecting and promoting the
interest of Mutual Funds as well as their Unit holders.

The objectives of Associations of Mutual Funds in India

The Association of Mutual Funds in India works with 30 registered AMCs of the
country. It has certain defined objectives which juxtaposes the guidelines of its
Board of Directors. The objectives are as follows:

This Mutual Fund association of India maintains high professional and ethical

standards in all areas of operation of the Industry.

It also recommends and promotes the top class business practices and code
of conduct which is followed by members and related people engaged in the
activities of Mutual Fund and Asset Management. The agencies who are by

any means connected or involved in the field of capital markets and financial

services also involved in this code of conduct of the association.

AMFI interacts with SEBI and works according to SEBIs guidelines in the

Mutual Fund Industry.

Association of Mutual Fund of India does represents the Government of India,
the Reserve bank of India and other related bodies on matter relating to the

Mutual Fund industry.

It develops a team of well qualified and trained Agent distributors. It
implements a program of training and certification for all intermediaries and

other engaged in the Mutual Fund industry.

AMFI undertakes all India awareness program for investors in order to
promote proper understanding of the concept and working of the Mutual

Advantages of Mutual Funds

Professional Investment Management.

By pooling the money of thousands of investors, mutual funds provide

full-time, high-level professional management that few individual investors
can afford to obtain independently. Such management can be important to
achieving results in today's complex markets.


Mutual funds invest in a broad range of securities. This limits investment

risk by reducing the effect of a possible decline in the value of any one
security. Mutual fund shareowners can benefit from diversification techniques
usually available only to investors wealthy enough to buy significant
positions in a wide variety of securities.

Low Cost.

If you tried to create your own diversified portfolio of 50 stocks, you'd

need at least $100,000 and you'd pay thousands of dollars in commissions to
assemble your portfolio. A mutual fund lets you participate in a diversified
portfolio for as little as $1,000, and sometimes less.

Convenience and Flexibility.

You own just one security rather than many, yet enjoy the benefits of a
diversified portfolio and a wide range of services. Fund managers decide
what securities to trade, clip the bond coupons, collect the interest payments
and see that your dividends on portfolio securities are received and your
rights exercised. It's easy to purchase and redeem mutual fund shares, either
directly online or with a phone call.

Quick, Personalized Service.

Most mutual funds now offer extensive websites with a host of

shareholder services for immediate access to information about your fund
account. Or a phone call puts you in touch with a trained investment
specialist at a mutual fund company who can provide information you can
use to make your own investment choices, assist you with buying and selling
your mutual funds shares, and answer questions about your mutual fund
account status.

Ease of Investing

You may open or add to your account and conduct transactions or

business with the mutual fund by mail, telephone or bank wire. You can even
arrange for automatic monthly investments by authorizing electronic fund
transfers from your checking account in any amount and on a date you

Total Liquidity, Easy Withdrawal

You can easily redeem your shares anytime you need cash by letter,
telephone, bank wire or check, depending on the fund. Your proceeds are
usually available within a day or two.

Life Cycle Planning

With no-load mutual funds, you can link your investment plans to future
individual and family needs -- and make changes as your life cycles change.
You can invest in growth funds for future college tuition needs, then move to
income mutual funds for retirement, and adjust your investments as your
needs change throughout your life. With no-load mutual funds, there are no
commissions to pay when you change your investments.

Market Cycle Planning

For investors who understand how to actively manage their portfolio,

mutual fund investments can be moved as market conditions change. You
can place your funds in equities when the market is on the upswing and
move into money market mutual funds on the downswing or take any
number of steps to ensure that your investments are meeting your needs in
changing market climates. A word of caution: since it is impossible to predict
what the market will do at any point in time, staying on course with a longterm, diversified investment view is recommended for most investors.

Investor Information

Shareholders receive regular reports from the mutual funds, including

details of transactions on a year-to-date basis. The current net asset value of
your shares (the price at which you may purchase or redeem them) appears
in the mutual fund price listings of daily newspapers. You can also obtain
pricing and performance results for the all mutual funds at this site, or it can
be obtained by phone from the mutual funds.

Periodic Withdrawals

If you want steady monthly income, many funds allow you to arrange for
monthly fixed checks to be sent to you, first by distributing some or all of the
income and then, if necessary, by dipping into your principal.

Dividend Options

You can receive all dividend payments in cash. Or you can have them
reinvested in the fund free of charge, in which case the dividends are
automatically compounded. This can make a significant contribution to your
long-term investment results. With some funds you can elect to have your
dividends from income paid in cash and your capital gains distributions

Automatic Direct Deposit

You can usually arrange to have regular, third-party payments -- such as

Social Security or pension checks -- deposited directly into your fund
account. This puts your money to work immediately, without waiting to clear
your checking account, and it saves you from worrying about checks being
lost in the mail.

Recordkeeping Service

With your own portfolio of stocks and bonds, you would have to do your
own recordkeeping of purchases, sales, dividends, interest, short-term and
long-term gains and losses. Mutual funds provide confirmation of your
transactions and necessary tax forms to help you keep track of your
investments and tax reporting.


When you own shares in a mutual fund, you own securities in many
companies without having to worry about keeping stock certificates in safe
deposit boxes or sending them by registered mail. You don't even have to
worry about handling the mutual fund stock certificates; the fund maintains
your account on its books and sends you periodic statements keeping track
of all your transactions.

Retirement and College Plans

Mutual funds are well suited to Individual Retirement Accounts and most
funds offer IRA-approved prototype and master plans for individual
retirement accounts (IRAs) and Keogh, 403(b), SEP-IRA and 401(k) retirement
plans. Funds also make it easy to invest -- for college, children or other longterm goals. Many offer special investment products or programs tailored
specifically for investments for children and college.

Online Services

The internet provides a fast, convenient way for investors to access

financial information. A host of services are available to the online investor
including direct access to no-load companies.

Asset Management Accounts

These master accounts, available from many of the larger fund groups,
enable you to manage all your financial service needs under a single
umbrella from unlimited check writing and automatic bill paying to discount
brokerage and credit card accounts.


Some mutual fund shares are marginable. You may buy them on margin or
use them as collateral to borrow money from your bank or broker. Call your
fund company for details.

Risk involved in Mutual Funds

Different mutual fund categories as previously defined have inherently
different risk characteristics and should not be compared side by side. A
bond fund with below-average risk, for example, should not be compared to
a stock fund with below average risk. Even though both funds have low risk
for their respective categories, stock funds overall have a higher risk/return
potential than bond funds.
Mutual funds invest in different securities which may be equities or
bonds, depending upon the funds objectives. Accordingly, different schemes
have different risks depending on the portfolio composition.

Following is a glossary of some risks to consider when investing in mutual funds.

Call Risk.
The possibility that falling interest rates will cause a bond issuer
to redeemor callits high-yielding bond before the bond's maturity

Country Risk.
The possibility that political events (a war, national elections),
financial problems (rising inflation, government default), or natural
disasters (an earthquake, a poor harvest) will weaken a country's
economy and cause investments in that country to decline.

Credit Risk.
The possibility that a bond issuer will fail to repay interest and
principal in a timely manner . Also called default risk.

Currency Risk.
The possibility that returns could be reduced for Americans
investing in foreign securities because of a rise in the value of the U.S.
dollar against foreign currencies. Also called exchange-rate risk.

Income Risk.
The possibility that a fixed-income fund's dividends will decline
as a result of falling overall interest rates .

Industry Risk.
The possibility that a group of stocks in a single industry will
decline in price due to developments in that industry.

Inflation Risk.
The possibility that increases in the cost of living will reduce or
eliminate a fund's real inflation-adjusted returns.

Interest Rate Risk.

The possibility that a bond fund will decline in value because of
an increase in interest rates .

Manager Risk.
The possibility that an actively managed mutual fund's
investment adviser will fail to execute the fund's investment strategy
effectively resulting in the failure of stated objectives.

Market Risk.
The possibility that stock fund or bond fund prices overall will
decline over short or even extended periods. Stock and bond markets
tend to move in cycles, with periods when prices rise and other periods
when prices fall.

Principal Risk.
The possibility that an investment will go down in value, or "lose
money," from the original or invested amount.

How is Mutual Fund Net Asset Value (NAV) calculated

What is NAV?
NAV is nothing but the total market value of all the assets held in the mutual fund
portfolio less the liabilities, divided by all the outstanding units. That amounts to
nothing but the book value.
The NAV measures how much each share of a mutual fund is worth. So essentially,
the NAV of a mutual fund is the cost of one share of the fund.

How is it calculated?
The total assets of a Mutual Fund usually fall into two categories cash and
securities. Securities include stocks and bonds. So the total asset will include the
market value of all its cash, stocks and bonds. Liquid assets, dividends to be
received, interest accrued also need to be included in the total assets.
At the same time, the Mutual Fund will have some money that it will owe to some
creditors. That is its liabilities. There will be some expenses that have accrued over
time and yet to be paid, this also needs to be included.

Let us see that in a formula:Net Asset Value (NAV) = (Assets-Debts) / (Number of Outstanding units)
Assets = Market value of the funds investments + Receivables + Accrued Income.
Debts = Liabilities + Accrued Expenses + Payables.

The Basic job of a trainee has involved following step:

First step Collection of primary data from different LIC offices located in Bhubaneswar.
Second step After collection of primary data update these data from the database.
These primary data includes.
Name, Sex, contact detail & Qualification of the LIC adviser.
Third step Followed by calling that adviser and approach for attend our BOP (Business
Opportunity Programme). Where the Unit manager Show them the benefit of working in mutual
fund industry as a wealth adviser.
If that adviser is unable to attend BOP so try to fix a personal appointment with him where our
unit manager personally meet him and told him about benefits of working with NJ Group.

Last step if that adviser convince and ready to work with company as wealth adviser so he have
to give a AMFI exam to get the license.


Try to convince LIC agent to become a mutual fund advisor.

Prepare a profile of a LIC agent who ready to attend BOP.

Provide him brief detail about mutual fund industry and their benefits.

Study mutual fund scheme and analyze them.

Explain them recent development in mutual fund.

Explain them the regulation to join NJ Group.


Research methodology


Research design:-

A research design is a pattern or an outline of a research projects

working. It is a statement of only the essential elements of a study, those
that provide the basic guide lines for the details of the project. It comprises a
series of prior decision that taken together provide master plans for
executing a research projects.
A research design serves as a bridge between what has been established
i.e., the research objectives and what is to be done, in conduct of the study
to relish those objectives. If there were no research design, the research
would have only foggy notions as about what is to be done.
I have used Cross sectional design of Explanatory Type. The research
is of both qualitative as well as quantitative type.

Units of analysis:-

Mutual fund advisors.

Characteristics of interest:o

Advisors knowledge about Mutual fund.

Advisors knowledge about NJ India invests.
Interest to getting knowledge about Mutual fund.
Willingness to deal in Mutual Fund with NJ India Invest.

3. Source of data:A. Primary source:-

It is collected







B. Secondary source:-

Secondary data includes information regarding present market

scenario, Information regarding Mutual Funds and competitors are
collected by
News Papers

Sample planning:-

o Total population: 3000 (Approx.)

o Sample size : 200 units
o Sample extent : BHUBANESWAR
5. Data collection Method:

I have used Survey method to collect data. I have collected data using

Questionnaire plan

I have used Structured Questionnaire for gathering the required data

through contacting respondent personally.

Type of information:o I have collected fact,

o Awareness,
o Attitude,
o Future action plan
o Reason using questionnaire.
Type of Questions:
o Close ended questions
o Dichotomous
o Multiple choice

Data analysis & Interpretation:

Data analysis is based on the data collected by a way of questionnaires.

From the collected data findings are extracted. He data is tabulated and
frequency distribution chart is prepared.

A project is incomplete without data and analysis. It is worthless also. By analysis I
know about the various factors essential for Mutual Fund advisors of NJ India Invest.
I have taken a sample of 300 respondents as a sample for data analysis. I have
surveyed Bhubaneswar city only.

Table: 1
Age group of respondents:
Age Group

No. of Response








56 & above



Here we found that the age between 36-45 were most aware of Mutual Fund and
showed maximum interest to find Mutual Fund advisors.

No. of Response





56 & above

Table: 2

Gender of Respondents












From the above table it was found that maximum 255 respondents are male out of
300 respondents and rest 45 are female.

Gender of Respondent




Table : 3
Educational Qualification of Respondents:

No. of Respond











Professional degree









From this we found that from 300 respondents 150 are graduate, followed by 60
responds are professional degree, 45 are others, 30 are intermediate and 15
respondents are matriculation.

No. of Respond




Table: 4

Experience in Business:
Experience in Business
Below 2
10 years and above

No. of Respondent


From the above it was found that the more financial advisors are 5-10 years
experience in business.

Experience in Business

10 years and above; 10% Below 2; 10%

3-5 years; 30%
6-10 years; 50%

Table: 5
Different Product:

No. of Respondent


Life Insurance
Mutual Fund



Postal Scheme






From the above it was found that maximum no. of insurance advisors is having
insurance as main source of income.


No. of Respondent

Life Insurance Mutual Fund Postal Scheme


Table: 6
ARN Holders
ARN Holders






From this we found that from 300 respondents, 60% are ARN holders.

ARN Holders



Table: 7
Knowledge of Revenue in Mutual Fund
Knowledge of Revenue

No. of Respondent


Highly Experience



Little Experience



No Experience






From the above table it is found that 60% of the insurance advisors have little
knowledge about the revenue in Mutual Fund.


No. of Respondent

Highly Experience Little Experience

No Experience

Table: 8
Interested Respondent for Business Opportunity


No. of Respond














From this we know that 35% Financial Advisors were interested to attend the
Business Opportunity Program.

No. of Respond






Time Period

At the End of 5Year

At the End of 10

At the End of 15

At the End of 20

Investment Amount





Corpus of Return @





Corpus of Return @





Corpus of Return @





Corpus of Return @





Chart Title

Axis Title

Corpus of Return @ 12%

Corpus of Return @ 15%


Corpus of Return @ 17%

Corpus of Return @ 20%


5 Year 10 Year 15 Year 20 Year

Axis Title

Top 5 AMCs based on AUM (Crs)

HDFC Mutual Fund

ICICI Prudential Mutual Fund


Reliance Mutual Fund

Birla Sun Life Mutual Fund
UTI Mutual Fund
SBI Mutual Fund
Franklin Templeton Mutual Fund












Mutual fund advisors should be well trained. They must take extensive

training which make them a professional advisors.

Still insurance advisors are unaware about the mutual fund business,

so proper steps should be taken to make the people aware about it.
In Bhubaneswar investors have inadequate knowledge about mutual

funds, so proper Marketing of various schemes is required, company

should arranges more and more seminar on Mutual funds.
Awareness of MF services provided by NJ India Invest is also very low.

So company needs proper marketing of their all services by

advertising, distribution of pamphlets, arranging seminar etc.
Company should come out with more advisor-oriented strategy to

motivate them and to capture the whole market.

Company should also provide knowledge about the growth rate and

the expected growth rate of Mutual fund industry in India.

Company should give more commission, bonus and incentives towards

mutual fund advisors.


The study has been limited to geographical boundaries of Bhubaneswar only.

Time period is limited.
Ignorance of some respondents.
Non co-operation of advisors.
Respondents did not have sufficient time to discuss the answers in detail.
Due to limitation of time and cost constrains a sample size of only 300
respondents are chosen?
The sample size was small to gather all accurate information.
My inexperience in research area might have affected results.

Mutual fund have given a new direction to the flow of personal savings
and enable small and medium investors in remote rural and semi urban
areas to reap the benefits of the stock market investment. Indian Mutual
funds are thus playing a very important development role in allocation of
scares resources in the emerging economy.
NJ India Invest is not able to provide sufficient services to the investors
of Bhubaneswar due to unawareness among advisors regarding services.
The awareness level of investors is low in advisors; as a result they are
not interested in dealing in mutual fund.

1. Kotler, Phillip; Marketing manegment;11 th edition; published by Pearson
Prentice Hall
2. Kothari, C.R i; Research Methodology; 2nd edition.
3. Anjaria , D.C.;AMFI Mutual fund testing programmed Wordbook


Dear Sir/Madam
I Keerti Ananda Dash MBA student of Rajdhani College of Engineering And
Management, Bhubaneswar is doing a summer project on A CRITICAL
provide me the following information for my summer project report as a
partial fulfillment of our course.
The objective of the survey is to access the awareness of Mutual Fund
among the financial Advisors in Bhubaneswar city.
1. Name:2. Age: - 18-25


3. Gender:-Male


4. Education:-Matriculation
Prof. Degree





5. Address:6. Mobile no +91

7. Experience in business :- (IN YEARS)



8. Are you aware about NJ India Invest? Yes



9. How do you come to know about NJ Invest?

10. How is NJ India Invest Advertisement?
Very good




11. Would you like to recommend Nj India Invest to your friend?


Definitely not


Probably not

12. Any other suggestion you want to give to NJ India Pvt. Ltd.?
( please specify )