Professional Documents
Culture Documents
1 INTRODUCTION
1.1 OVERVIEW OF INDUSTRY
1.2 PROFILE OF THE ORGANISATION
1.3 PROBLEMS OF THE INDUSTRY
1.4 COMPETITORS INFORMATION
1.5 SWOT ANALYSIS OF THE ORGANISATION
2 RESEARCH METHODOLOGY
2.1 STATEMENT OF PROBLEM
2.2 OBJECTIVES
2.3 MANAGERIAL USEFULNESS OF STUDY
2.4 TYPE OF RESEARCH AND RESEARCH DESIGN
2.5 DATA COLLECTION METHOD
2.6 LIMITATIONS OF STUDY
3 CONCEPTUAL DISCUSSION
3.1 REVIEW OF LITERATURE
3.2 CURRENT ISSUES
4 DATA ANALYSIS
4.1 METHOD AND TECHNIQUES OF DATA ANALYSIS
5 MY CONTRIBUTION TO THE BODY OF KNOWLEDGE
6 FINDINGS, CONCLUSION AND SUGGESTIONS
7 SUMMARY OF THE PROJECT
CHAPTER - 1
INTRODUCTION
INTRODUCTION
risk-reward.
INVESTNMENT OPTIONS
In India the investor has wide variety of investment options available to him. Economic well-being
in the long run depends significantly on how wisely he invests. Every investment options have two
main aspects i.e. risk and return. The investor has the choice of investment in capital markets of
the country and also in financial institution of the country like Banks and Insurance companies.
The various tools of investment available to investor are as follows -:
• Equity Shares
• Bank Deposits
• Investment in Debt Market
• Post Office Savings
• Government Securities
• Life Insurance
• Real Estate
• Public Provident Funds
• Mutual Funds
MUTUAL FUNDS
A mutual fund is a pool of money that is invested in various securities and professionally managed
by an investment manager. The money thus collected is invested by the fund manager in different
types of securities depending upon the objectives of the scheme. These could range from equity to
debentures to money market instruments. The income earned through these investments and the
capital appreciation realized by the scheme is shared by its unit holder. Thus a mutual fund is the
most suitable investment for the common man as it offers an opportunity to invest in a diversified.
Mutual fund is also called unit trust or open ended trust a company that invests the funds of its
clients in diversified securities and in turn represent those holding. They make continuous offering
of new shares at NAV (Net Asset Value) determined daily by the market values of the securities
they hold.
The concept of mutual funds in India dates back to the year 1963. The era between 1963 and 1987
marked the existence of only one mutual fund company in India with ₨ 67bn assets under
management (AUM), by the end of its monopoly era, the Unit Trust of India (UTI). By the end of
the 80s decade, few other mutual fund companies in India took their position in mutual fund market.
The new entries of mutual fund companies in India were SBI Mutual Fund, Can bank Mutual Fund,
Punjab National Bank Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund.
The succeeding decade showed a new horizon in Indian mutual fund industry. By the end of 1993,
the total AUM of the industry was ₨ 470.04 bn. The private sector funds started penetrating the
fund families. In the same year the first Mutual Fund Regulations came into existence with re-
registering all mutual funds except UTI. The regulations were further given a revised shape in
1996.
1.2) PROFILE OF THE ORGANISATION
The word “NJ” stands, N for Neeraj Choksi and J for Jignesh Desai the founder directors of
NJ India Invest. Seeing the growing scope of the financial service sector these two dynamic
young men, after completing their education, started their career with this sector. Both of
them decided to jump into the same field and came out with the dynamic concept of NJ
Capital stock, which is known as NJ India Invest now. 44 This business was started in the
year 1994; it was the period when private companies were entering the field of financial
services. This was the time when NJ India Invest evolved as a client focused need based
investment advisory firm. NJ India Invest has achieved expertise in need based investment
of clients.
Started in the year 2003, NJ INDIA INVST PVT LTD, seeks to reach out to the common
man and extend the opportunity to create wealth through an empowered network of financial
products distributors the NJ Wealth Partners. To its Partners, NJ Wealth provides a full
service platform with end to end solutions in every aspect of distribution practice critical
for business success. NJ Wealth is the largest mutual fund distributors in India with its
strong capabilities and distribution channel.
PRODUCTS:
Mutual Funds, PMS, Fixed Deposits, Bonds, Direct Equity, Real Estate, Loans.
VISION
NJ Wealth has the vision of Creating Wealth and Transforming Lives by bringing financial
inclusion and easy access to investment opportunities to the masses. Underlying the
philosophy, is our conviction in sound long-term, investment management principles with
asset allocation at its core. As part of the NJ Group, NJ Wealth also has a very strong
philosophy towards strong corporate and self-governance.
MISSION
The team at NJ Wealth works with great energy and passion to keep the customer's interest
supreme by exceling in all areas of operations. NJ Wealth strives to earn and build upon
the trust and respect of its employees, customers, Partners, regulators, industry members
and the community at large, by following its vision and philosophy with ethics,
commitment, rationale and focus.
OBJECTIVES
NJ believes that trust is key for sustainability of any business. As a part of the NJ Group,
NJ Wealth has a very strong philosophy of corporate and self-governance. We believe that
we have great duty towards to all our stakeholders – employees, customers and vendors to
business partners, authorities, and the community at large. NJ Wealth is committed to
ensure that the interests of all stakeholders are best served with true spirit of prudent,
rationale and ethical business practices.
As a part of NJ Group, NJ Wealth has strong policy, process, systems-oriented culture and
practices, which collectively cover various aspects of governance. NJ Wealth is also
committed to follow appropriate due diligence, compliance and risk management practices
in all its activities. It is committed to provide its customers with the highest feasible quality
of services. The customers are requested to raise any complaint or grievance through the
right channels communicated for quick resolution.
FUNCTIONS
GROWTH OF INDUSTRY
By the year 1970, the industry had 361 Funds with combined total assets of 47.6 billion dollars in
10.7 million shareholder’s account. However, from 1970 and on wards rising interest rates, stock
market stagnation, inflation and investors some other reservations about the profitability of Mutual
Funds, adversely affected the growth of mutual funds. Hence Mutual Funds realized the need to
introduce new types of Mutual Funds, which were in tune with changing requirements and interests
of the investors. The 1970’s saw a new kind of fund innovation; Funds with no sales commissions
called “no load “funds. The largest and most successful no load family of funds is the Vanguard
Funds, created by John Bogle in 1977.
In the series of new product, the First Money Market Mutual Fund (MMMF) e.g. The Reserve
Fund” was started in November 1971. This new concept signalled a dramatic change in Mutual
Fund Industry. Most importantly, it attracted new small and individual investors to mutual fund
concept and sparked a surge of creativity in the industry.
PLAYERS IN INDUSTRY
India has among the lowest mutual fund investments to GDP ratios in the world at 7 per cent,
offering a vast untapped opportunity for MF houses, which can leverage technology to enhance
reach.
MF investments accounted for only 3.4 per cent of total financial investments by individual
investors, including HNIs and retail, in 2018-19, said the report brought out jointly by consulting
firm EY and Cafe Mutual.
With over 2,100 MF schemes, regulator SEBI should focus on rationalising product offerings.
There is a need for deepening pension coverage in the country through mutual funds. Digital
technology is helping fund houses enhance distribution reach.
India’s MF market is still at a nascent stage as asset base of mutual funds as a percentage of GDP
is just 11 per cent and there is room for growth. The global average for the same is 62 per cent,
while in USA, it exceeds over 100 per cent. India has a culture of saving. Indians save ₨ 20-30
lakh crore every year, which indicates immense scope for channelizing this saving into MF
industry.
SIZE OF THE INDUSTRY
The Indian Mutual Fund Industry AUM has grown from ₨ 1 lakh crore in March 2002 to ₨ 25
lakh crore in March 2019, translating into a growth of more than 25 times over a period of 17
years. In the last 5 years alone, the industry’s AUM has tripled from ₨ 9 lakh crore to ₨25 lakh
crore.
As of March 2019, the Indian MF industry had 8+ crore investor accounts and 2.5+ crore SIP
accounts.
COMPETITORS INFORMATION
KARVY GROUP: The Karvy Group was formed in 1983 in Hyderabad, India.
Karvy ranks among the top players in almost all the fields it operates. Karvy
Computershare limited is India’s largest registrar and transfer agents with a client
base of nearly 500 blue chips corporate, managing over 2cr accounts. Karvy Stock
Brokers Limited, member of National Stock Exchange of India and Bombay Stock
Exchange ranks among the top 5 stock brokers of India.
providing the entire gamut of financial services. The firm, founded in 1994 by Mr.
AnandRathi, today has a pan India presence as well as an international presence
through offices in Dubai and Bangkok. AnandRathi provides a breadth of financial
and advisory services including wealth management, investment banking,
corporate advisory, brokerage & distribution of equities, commodities, mutual
funds and insurance.
UTI MUTUAL FUNDS: 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.
PRUDENT: The Prudent Insurance Brokers team is the key driving force of the
company. We are driven by intense professional pride to excel and deliver. Our
team comprises of over 160 professionals from diverse backgrounds, bringing with
them rich experience to understand better our clients’ businesses and risks.
STRENGTHS-
• NJ India Invest is a dominant player in the Indian Mutual Funds distribution business.
• NJ India Invest has Assets under Management (AUM) more than 30000 Cr.
• NJ India Invest has tie up with all 45 AMC.
• NJ India Invest provides best services in the industry using cutting age of technology.
WEAKNESS-
• NJ India Invest is dominant player in Mutual Fund industry but not in entire financial
product range like Insurance etc.
• There are some complaints from customer’s side regarding irregular dispatchment of
commission.
• NJ India Invest, in some cases, can’t convince their clients about the helpfulness of the
services provided by the company.
OPPORTUNITY-
• NJ India Invest has great opportunities in front of it as the Mutual fund has not
penetrated in the Indian financial market.
• NJ India Invest can utilize the dominant position it has and optimally use the huge
network of its partners.
• NJ India Invest can use its network of partners in selling Insurance; even company can
jump in to share trading business.
THREATS-
• NJ India Invest is facing competition from the new entrant like Anagram Security, Karvy
Security and many new and local players. Company also faces competition from IFA
(independent financial advisor) who are doing direct business in the AMC.
2.1 STATEMENT OF PROBLEM
Role of financial advisors in different assets class in NJ India Invest Pvt Ltd.
2.2 OBJECTIVES
Primary Objective:
• To study the awareness about Mutual Fund among IFA (Individual Financial Advisors) of Pune.
Secondary Objective:
• To know whether Financial Advisors are aware about Mutual Fund no Business.
SCOPE OF STUDY
The study of this research is limited and bounded only for NJ India Invest Pvt Ltd, Pune location.
Situation and process might vary at other location.
2.3 MANAGERIAL USEFULNESS OF STUDY
• Advisors knowledge about Mutual Funds.
• Advisors interest in getting knowledge of Mutual Funds.
• Advisors willingness to deal in Mutual Funds with NJ India.
(i) Descriptive vs. Analytical: Descriptive research includes surveys and fact-finding enquiries of
different kinds. The major purpose of descriptive research is description of the state of affairs as it
exists at present. In social science and business research we quite often use the term Ex post facto
research for descriptive research studies. The main characteristic of this method is that the
researcher has no control over the variables; he can only report what has happened or what is
happening.
(ii) Applied vs. Fundamental: Research can either be applied research or fundamental research.
Applied research aims at finding a solution for an immediate problem facing a society or an
industrial/business organization, whereas fundamental research is mainly concerned with
generalizations and with the formulation of a theory. “Gathering knowledge for knowledge’s sake
is termed ‘pure’ or ‘basic’ research.” Research concerning some natural phenomenon or relating
to pure mathematics are examples of fundamental research.
(iii) Quantitative vs. Qualitative: Quantitative research is based on the measurement of quantity or
amount. It is applicable to phenomena that can be expressed in terms of quantity. Qualitative
research, on the other hand, is concerned with qualitative phenomenon.
2.5 DATA COLLECTION METHOD
Type of data collection: -
1) Primary data: Primary data are those, which are collected afresh and for the first time, and thus
happen to be original in character. We collect primary data during the course of doing experiments
in an experimental research but in case we do research of the descriptive type and perform surveys,
whether sample surveys or census surveys, then we can obtain primary data either through
observation or through direct communication with respondents in one form or through personal
interviews. There are several methods of primary data:
• Observation method
• Interview method
• Through questionnaires
In these methods, we select questionnaires method for our survey because questionnaires method
helps to study the expression of an individual and during that period we observe the situation of
working culture also. So according to me questionnaires method is more beneficial in our research.
JVIMS- encouraging Curiosity & creativity.
Questionnaires
Quite often questionnaire is considered as the heart of a survey operation. Hence, it should be very
carefully constructed. This method of data collection is quite popular. For workers we prepare
questionnaires in printed form and for employees we prepare online questionnaires.
2. Secondary data: - Secondary data means data that are already available i.e., they refer to the
data which have already been collected and analyzed by someone else. and analyzed by someone
else. Secondary data has been collected through library and previous research report.
2.6) LIMITATIONS OF STUDY
Every research has its own limitation and present research work is no exception to this general rule
the inherent limitation of the study are as under.
• Personal approach, which was followed in the present research work, is relatively more time
consuming. In addition to this is a very expensive method, especially when spread geographically
sample is taken
• We have address of so many people but because of their personal work we can’t meet.
O'Day (1986)
A profession was defined as an occupation which exhibited certain traits including a
collegial and hierarchical organization, group control of recruitment, entry qualifications
and training, a self-imposed code of behavior, and a claim to monopoly over the a defined
body of knowledge and practical service.
Lee (1995), where he reviewed the nature of professionalization; the birth of the
accountancy profession; the establishment and defense of professionalization; and a
retrospect and prospect. The most obvious feature of early UK professionalization is the
pursuit by accountants and their institutions of economic self-interest in the name of a
public interest. Use of entry, examination and training requirements, lobbying over
legislative matters, defending the exclusive use of professional designations and attempting
statutory registration each illustrate this point. A similar pattern emerged in the USA in the
late 1880s, although the specific rationale for professionalization was different from that
of the Scots chartered accountants.
Jha et al (2006)
This was an interview study of medical educators, medical students, doctors, allied health
professionals and lay professionals to assess views and experiences of professionalism in
medicine. It involved thematic content analysis of the interview transcripts (Jha et al.
2006). The present study therefore is similar in that it offers an understanding of the
professionalism of financial planners from different stakeholder perspectives. Instead of
thematic content analysis, this present study will employ phenomena graphic methods in
attempting to understand the phenomenon of the professionalism of financial planners
through an investigation of how financial planners, lecturers and professional association
managers make meaning of professionalism from their own awareness (should be
„experience‟) of the phenomenon.
Ahlgrim, D'Arcy and Gorvett, 1999, Uses simulation to develop future scenarios
for various applications. Wilkie’s Provides a review of historical interest rate movements
from 1953-1999, summarizes the key elements of several interest rate models and describes
how to select parameters of the models to fit historical movements. 5. “Do Interest Rates
Really Follow Continuous-Time Markov Diffusions?” Ait-Sahalia, 1999, Examines
whether interest rates follow a diffusion process (continuous time Markov process), given
that only discrete-time interest rates are available. Based on the extended period 1857 to
1995, this work finds that neither short-term interest rates nor long-term interest rates
follow Markov processes, but the slope of the yield curve is a univariate Markov process
and a diffusion process.
Chan, Karolyi, Longstaff, and Schwartz, 1992, CKLS estimate the parameters
of a class of term structure models using the generalized method of moments technique
and the time series of monthly interest rate data from 1964-1989. They find that the
volatility of interest rates is extremely sensitive to the level of the rate.
Chapman and Pearson, 2001, Provides a comprehensive review of term structure
models. They conclude that volatility increases with the level of the short term interest rate
and, within normal interest rate ranges, mean reversion is weak. They also point out that
the appropriate measure for volatility depends on whether the period 1979-1982 (when the
Federal Reserve shifted policy from focusing on interest rates to inflation rates) is treated
as an aberration or included in the sample period. They also conclude that more research is
needed to determine which interest rate model is best.
Hibbert, Mowbray, and Turnbull, 2001, This paper describes a model that
generates consistent values for the term structure of interest rates, both real and nominal,
inflation rates, equity returns and dividend payouts. The model can be used to generate
multiple potential paths for each of these variables for use in financial modeling. The paper
provides an excellent review of interest rates, inflation rates and equity returns over the last
100 years, or longer, as well as for more recent periods.
Ranganathan (2006) studied fund selection behavior of individual investors towards
mutual funds. The study found along with the fund performance record, sponsor‟s
expertise in managing money, which is closely, followed by reputation of the sponsoring
firm are the most influencing factors in mutual funds selection.
Hussein (2006) identified the factors influencing the UAE investors‟ behaviour. Six
factors were found as the most influencing factors on the UAE. The most influencing
factors include corporate earnings, get rich quick and past performance of the stock.
Neo-classical economic theory tells us that investor are rational and that their behavior is
driven by wealth maximization and self-interest. However, as suggested by the somewhat
mixed empirical evidence presented above, there seem to be investors that consider other
factors as well when forming their investment decisions, i.e. social, moral and ethical
concerns.
3.2) CURRENT ISSUES
Mutual fund (MF) investments are subject to market risks.” Well, that’s true. But if you
make an informed investment, you can easily say “Mutual Funds Sahi Hai” (mutual funds
are the right choice). As people understand more about this investment tool and its
effectiveness in the medium-to-long-term, the total Assets Under Management (AUM) of
the mutual fund houses keep expanding rapidly.
Indian MF industry’s AUM has increased from Rs. 4.17 trillion (4.17 lakh crore) in March
31, 2009 to Rs. 23.80 trillion (23.80 lakh crore) by March 31, 2019, more than 5 times in
just 10 years. More and more investors have begun to keep their faith in mutual funds in
the last four and half years. During this period, the creation of folios (MF accounts) has
increased steadily.
Questionnaire
6. In future will you attend seminar arranged by NJ India to guide investors about MF?
a. Yes b. No
If No why? _______________________________________________
7. Would you like to work with NJ India Ltd for dealing in Mutual Fund?
a. Yes b. No
If no why_________________________________________
8. Can we send representative from NJ India Invest for more information about Mutual Fund?
20-30 46
30-40 16
40-50 13
50-60 14
60-ABOVE 11
TOTAL 100
AGE GROUP
16%
14%
52%
18%
From the above table we can say that awareness for investment in youngster has been
increased & that’s why out of 100, 46% are youngster who do investment and they come
in the age group of 20-30, then comes age group of 30-40 from which 16% people do
investment and other age group are 40-50 where they do investment of 13%, 14%belongs
to age group of 50-60 they do the investment, and 11%belongs to the age group of60-above
they do their investment. We can say that youngsters are more careful for their investment.
2.) What is your occupation?
BUSINESS 28
WEALTH ADVISOR 56
SERVICE 16
TOTAL 100
NO.OF ADVISORS
BUSINESS WEALTH ADVISOR SERVICE
16%
28%
56%
Q3) what is your monthly income?
BELOW 20000 34
20000 - 30000 46
30000 – 40000 10
40000 - 50000 06
ABOVE 50000 04
TOTAL 100
INCOME
BELLOW 20000 20000 - 30000 30000 - 40000 40000 - 50000 50000 ABOVE
6%
9%
14%
48%
23%
From 100 people 34% have monthly income bellow 20000, 46% have between 20000-
30000, 10% have between 30000-40000 and 6% have between 40000-50000, 4% have
above to 50000 income monthly.
Q4). Are you aware about mutual fund?
YES 38
NO 62
AWARE
YES NO
38%
62%
From 100 people 62% of them are aware about mutual fund and 42% of them are not aware
about mutual fund but they do investment in other sectors for which information is given
in the next Question.
Q5. Your other preference for Investment?
PATICULARS NO.OF
INSURANCE 33
EQUITY MARKET 43
GOVT.SCHEME 16
REAL ESTATE 6
COMMODITIES 2
TOTAL 100
PREFERENCE
2%
6%
32%
44%
16%
People who were not investing in mutual fund they do invest in sectors like insurance,
equity market, government schemes (includes banks, bonds &other scheme ), real estate,
commodities even people those who do invest in mutual fund they also invest in different
sectors. Out of 100%, 43% people do invest in equity market, 33% invest in insurance,
16% in government scheme, 6% do invest in real estate and 2% do invest in commodities.
Q6. Would you like to know about Mutual Fund?
YES 30
NO 70
TOTAL 100
COLUMN1
YES NO
30%
70%
From 100 people there are 30% would like to know about Mutual Fund and 70% would
not like to know about Mutual Fund. There are some people who investing in Mutual Fund
but interested to know more about Mutual Fund. On the other hand some people are not
aware about Mutual Fund and still no interested to know.
Q7. Would you like to attend business opportunity seminar of
NJ to know more about Mutual Fund business?
YES 49
NO 51
SEMINAR
6%
94%
YES NO
From the total 100 respondent in 49 respondent like to attend business opportunity
seminar of NJ and 51 respondents are saying no.
8). Have you cleared your AMFI exam?
YES 27
NO 73
AMFI EXAM
11%
89%
YES NO
Chapter-5
FINDINGS, CONCLUSION
AND
SUGGESTIONS
FINDINGS
1. Most of the respondent have more than 5 year of experience as an financial advisors
2. Majority of the financial advisors are selling insurance to their Friends and relative members.
3. Male financial advisors are more interested in Mutual Fund Business rather than Female
financial advisors.
7. Only 22% financial advisors are aware about commission of mutual fund.
9. Financial advisors give more importance e to safety and return attributes 101
10.Financial Advisors who were not suggesting their clients to invest in mutual fund due to lack
of knowledge of Mutual Fund.
CONCLUSION
On the basis of my experience during the 50 Days summer training, analyzing the data that was
collected through a questionnaire and face-to-face conversation with the people I conclude this
project work with the words that In spite of the bleak and grim outlook the future of capital market
is growing at a very high pace. Taking these things into consideration there are lots of opportunity
for the Investment advisory service providers which already exist and which are due to enter in the
Indian market. The fund managers of the schemes of mutual fund are also trying their best in giving
more return to the investors by allocating the fund in a most suitable way. There is little awareness
about Equity and Mutual funds in India. People have accepted it as one of the major investment
avenue. As people have entered in this particular investment avenue they have lost money because
of movement in the market which is below the par value and this has shaken the faith of investors
in this particular avenue. NJ has emerged a very strong player in the field of distribution of
financial product it is giving stiff competition to all players. If the progress of NJ goes in the same
way then it will emerge as a major player in the Capital market. They have much more potential
to expand their business. Comparing to other investment avenues, investing in mutual fund is lot
more profitable. So, everybody should invest a part of their income in this avenue for creation of
wealth.
SUGGESTIONS
On the basis of above described market analysis and some other facts which I realized during
summer training there are some recommendation for the company which can be beneficial for the
growth of company. They are:
Customer interactive session should be organized on a regular basis so that they could
have a better learning about mutual fund & its product because there are many people
who do not have a clear idea about all mutual fund products & how the mutual fund
industry works. By doing so it can attract more investment into this sector.
The company have to make the people understand the benefits if they make their
investment through NJ INDIA INVEST PVT. LTD. & it should develop a good
customer service cell where grievances of a customer can be solved because a satisfied
customer will bring more number of customers.
Company should make awareness in the investors about the schemes provided by N J
India.
A special BPO should be made to do core calling & problem solving over the phone.
Problem solving over the phone require special skilled BPO employees. So, it is
required to develop the business of NJ INDIA INVEST PVT. LTD
CHAPTER-7
Present project report is about the complete analysis of advisor’s response of investment in
Mutual Funds at NJ India Invest Pvt Ltd.
This report is carried out at NJ India Invest Pvt Ltd, Nsp, Delhi location. The company’s
product basket includes Mutual Funds, Capital Market, Portfolio Management Services,
Fixed Income and Real Estate.
At NJ Wealth there is a department called Sales and marketing. This departments main
function was to make financial advisors do business in mutual funds by the means of
investing the client’s money in the market. The department focuses on educating the
financial advisors and their clients about the current scenario of mutual fund market, new
mutual funds and where and when to invest by arranging the training seminars, partners
meet and clients meet.
At NJ Wealth, my job role was to educate the financial advisors of the company about
mutual funds and make their clients invest into it through the online portal called E-Wealth.
It enables the advisor to invest client’s money directly into the market and customer can
anytime redeem money that is invested. It also eliminates a lot of paper work that was
required before.
According to me, NJ lacks in its brand positioning and needs to advertise its brand to gain
the image of a mutual fund distributor in the eyes of financial advisors and other mutual
fund distributor.
ABBREVIATION
Following are the sources from where the Primary data has been gathered:
www.njindiainvest.com
www.amfiindia.com
www.valueresearchonline.com
www.scribd.com
www.moneycontrol.com
www.sebi.gov.in www.nseindia.com