Dude Chettan

CHAPTER 1
INTRODUCTION
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1.1 INTRODUCTION
Mutual funds are financial intermediaries, which collect the savings of investors and invest
them in a large and well diversified portfolio of securities such as money market instruments,
corporate and government bonds and equity shares of joint stock companies. A mutual fund is a
pool of common funds invested by different investors, who have no contact with each other.
Mutual funds are conceived as institutions for providing small investors with avenues of
investments in the capital market, they have to rely on an intermediary which undertakes
informed investment decisions and provides consequential benefits of professional expertise. The
advantages for the investors are reduction in risk, expert professional management, diversified
portfolios, and liquidity of investment and tax benefits. By pooling their assets through mutual
funds, investors achieve economies of scale. The interests of the investors are protected by
SEBI, Which acts as a watchdog. Mutual funds are governed by SEBI (Mutual Funds)
regulations, 1993.
From its inception the growth of mutual funds is very slow and it took really long years to
evolve the modern day mutual funds. Mutual Funds emerged for the first time in Netherlands in
the 18th century and then got introduced to Switzerland, Scotland and then to United States in the
19th century. The main motive behind mutual fund investments is to deliver a form of diversified
investment solution. Over the years the idea developed and people received more and more
choices of diversified investment portfolio through the mutual funds. In India, the mutual fund
concept emerged in 1960. The credit goes to UTI for introducing the first mutual fund in India.
Monetary funds benefited a lot from the mutual funds. Earlier investors used to invest directly in
the stock market and many times suffered from loss due to wrong speculation. But with the
coming up of mutual funds, which were handled by efficient fund managers, the investment risks
were lowered by a great extent.
1.2 PROBLEM STATEMENT
To know the financial performance of the organization by comparing Five years financial
performance of SBI Mutual Fund.
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Standard deviation, Comparative Balance Sheet and Trend Analysis are very useful to draw
the conclusion so management wants to know what are the factor contributing for the future
growth and also wants to maintain the same in the long run and also improve the profitability and
liquidity of the organization.
1.3 OBJECTIVES OF THE STUDY
 To study the profitability at SBI mutual fund

 To study all the financial statements for the past 5 years to identify changes in various
items present in them
 To find out future trend of selected items
 To find out the risk and return of mutual funds
1.4 SIGNIFICANCE OF THE STUDY
 Better financial performance plays a vital role in success of the organization

 Financial Performance analysis help the organization in selecting and executing better
business decisions.
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CHAPTER 2
PROFILES
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2.1INDUSTRY PROFILE
A Mutual fund is a collective investment vehicle .It is a pool of investors’ money invested
according to pre-specified investment objectives. The benefits from the investment of the pooled
money accrue to those that contribute to the pool. There is thus mutuality in the contribution and
the benefit. Hence the name ‘Mutual Fund’.
The Indian Mutual Fund Industry began way back in 1963 with the setting up of Unit trust of
India and it was a Joint Venture between Reserve bank of India and Government of India
The Mutual Fund Industry in India has undergone the following phases:
 Phase of Inception(1964-87)
 Entry of Public Sector(1987-93)
 Entry of Private Sector(1993-1996)
 Phase of Consolidation(feb:2003-Apr:2014)
 Phase of steady Development and Growth(since May 2014)
Mutual Funds in India have a three tier structure of Sponsor-Trust-Asset Management

Company. The sponsor is the Promoter of the mutual fund,who set up the trust and the AMC,
appoints the board of trustees and the board of directors of the AMC. Sponsors must contribute a
Minimum of Rs 1 lakh as Initial contribution to the corpus of the mutual fund. The mutual fund
itself is set up as a Trust. Investors in the mutual fund are the beneficiaries of the trust. An AMC
is required to maintain a net worth of at least Rs 50 crore at all times and the AMC must be
registered with SEBI.
The Securities and Exchange board of India ( SEBI) is entrusted with the role of regulating and
supervising mutual funds in India. The central piece of regulation for the mutual fund industry is
the SEBI Regulations, 1996. This Regulation has been amended from time to time and the SEBI
is supervised by the ministry of finance. Appeals against any ruling of SEBI can be made to the
securities appellate Tribunal (SAT).SEBI and Association of Mutual Funds in India (AMFI) has
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come with “Mutual Funds SahiHai”campaign to increase awareness about mutual funds. In
February 2018 annual budget India government presented by Finance Minister ArunJaitley
Introduced Tax on returns from Mutual funds in the form of long term capital Gains Tax. This
Tax mention meant investor has to give 10% tax for all gains he withdraws above one lakh
rupees.
During the financial year 2017-18 following Key SEBI Regulations and Guidelines were issued
for the Mutual Fund Industry:
1. SEBI modified the provisions regarding the disclosure of Executive Remuneration by

AMCs/Mutual Funds.
2. SEBI issued guidelines for extending Instant Access Facility in liquid schemes for credit
of redemption proceeds on the same day of redemption request and use of e-wallets for
investment in the Mutual Fund schemes.
3. SEBI has modified the norms for participation in derivatives by Mutual Funds.
4. SEBI issued guidelines regarding categorization and rationalization of Mutual Fund

Schemes in order to ensure that different schemes launched by a Mutual Fund are clearly
distinct in terms of asset allocation, investment strategy etc. and to bring uniformity in
the characteristics of similar type of schemes launched by different Mutual Funds and to
standardize the scheme categories and characteristics of each category.
5. In order to strengthen the governance structure for Mutual Funds, SEBI has specified for
the tenure of Independent Trustees and Independent Directors of AMC and the Auditor
of a Mutual Fund.
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6. SEBI specified norms for benchmarking of scheme’s performance to Total Return Index
(TRI) instead of Price Return variant of an Index (PRI) as TRI is more appropriate as a
benchmark to compare the performance of mutual fund schemes.
7. SEBI clarified that AMCs shall not be eligible to charge the additional expenses as per
Regulation 52 (6A), incurred towards different heads mentioned under Regulation 52 (2)
and Regulation 52 (4), not exceeding 0.20 per cent of daily net assets for such schemes
including close ended schemes, wherein exit load is not levied / not applicable.
8. SEBI specified that additional TER of up to 30 basis points as per Regulation 52 (6A)(b)
would be allowed for inflows beyond top 30 cities instead of beyond top 15 cities.
9. SEBI modified the norms for disclosure of Total Expense Ratio (TER) to the investors.
10. SEBI issued SEBI (Mutual Funds) (Amendment) Regulation, 2018 by inserting new
Regulation 7B pertaining to norms for shareholding and governance in Mutual Funds.
11. SEBI has issued new policy measures for filing and solving redressal of investor
grievances
For the Asset Management Industry every year seems to be an eventful one, with the last year
marked with unusual credit events and equity market volatility.The Industry ended on a high
growth in monthly SIPs now at Rs 8,055 crore with 2.62 crore folios. NIFTY rose 8% in march
and rupee gained 2.3% against the US dollar. This helped Indian markets to catch-up with year –
to-date under –performance relative to the emerging markets.
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GLOBAL SCENARIO
During the last decade, the net assets of mutual fund industry have witnessed the tremendous
growth all over the world. However, in spite of this healthy growth a significant difference exists
in the size and structure of mutual fund industry across the nations. The United States alone
captures about half of the world mutual fund industry, suggesting disparity in the growth of
world MF industry. Mutual fund industry has grown larger in those countries which are
developed and have a strong institutional base whereas the growth of mutual fund industry has
been smaller in those countries which have high entry barriers. Other factors that have influenced
the size and structure of mutual fund industry are percentage of educated population, level of the
maturity of industry, presence of multinational financial institution in the country, performance
of equity and bond market, tax incentive and regulatory framework, attractiveness of
complimentary and substitute financial products and operational efficiency of mutual fund
industry.
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2.2COMPANY PROFILE
SBIMF is a joint venture between India’s largest bank,State Bank of India and Amundi asset
Management France and it is managed by the AMC,SBI Funds management private limited.
SBIMF is the first Non–UTI company to be opened in 1987. Company is headquartered in
Mumbai. In July 2004, State Bank of India divested 37 per cent of its holding in its mutual fund
arm to SocieteGenerale Asset Management. Post-divestment, State Bank of India's stake in the
mutual fund arm came down to 67%.In May 2011, Amundi picked up 37% stake in SBI Funds
Management, that was held by SocieteGenerale Asset Management, as part of a global move to
merge its asset management business with Credit Agricole.
SBIMF was the first company in the mutual fund industry to introduce customer satisfactory
measures like “missed call” from registered number and “mail back facility “which helped client
to know the fund valuation of customer. This was a 24*7 facility which other companies in the
industry modeled. When Government of India introduced electronic know your customer facility
(e-kyc) SBIMF was the first company to introduce e-kyc facility through company website. This
helped the company to help customers online without intermediaries and distributors.
Some of the milestones of SBI are:
1987 - Establishment of SBI Mutual Fund

1991 - Launch of SBI Magnum Equity Fund
1999 - Launch of sector funds, India's first contra fund
2004 - Joint Venture with SGAM
2006 - Became the first bank-sponsored fund to launch an offshore fund – 'SBI
Resurgent India Opportunities Fund'
2011 - Stake Transfer from SGAM to AMUNDI
2013 - Acquisition of Daiwa Mutual Fund, part of the Tokyo-based Daiwa Securities
Group
2013 - Launch of SBI Fund Guru, an investor education initiative
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2015 - Employees' Provident Fund Organization decided to invest in the equity market
for the first time by investing Rs. 5,000 crore in the Nifty and Sensex ETFs (Exchange
Traded Fund) of SBI Mutual Fund.
VISION AND MISSION
VISION
Be the most trusted and respected Asset Manager
MISSION
Ethical, Responsive and innovative Partner in investment solutions
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2.3PRODUCT PROFILE
TYPES OFMUTUAL FUND

A. BY STRUCTURE
 Open Ended fund:
These type of funds doesn’t have fixed maturity date.it is open to accept purchase
and redemptions at any time.
Example- SBI Small Cap Fund, SBI Large and Midcap Fund
- SBI Small Cap Fund aims to provide investors with opportunities for long-
term growth in capital by investing predominantly in a well-diversified
basket of equity stocks of small cap companies. The fund predominantly
invests (minimum 65%) in small cap stocks.
- SBI Large & Midcap Fund-Reg(G) To provide investors long term capital
appreciation along with the liquidity of an open-ended scheme. The scheme
will invest in a diversified portfolio of equities of high growth companies.
 Closed- Ended fund:
Operate for a specific period .On the specified maturity date, all units are redeemed
and the scheme comes to a close.
Example- SBI Capital Protection Oriented Fund, SBI Fixed Maturity Plan
- SBI capital protection oriented funds-The Scheme endeavors to protect
capital by investing a portion of the portfolio in highest rated debt securities
& money market instruments and also to provide capital appreciation by
investing the balance in equity and equity related securities.
- Fixed maturity plan(FMP) invests the corpus in debt instruments maturing
in line with the tenure of the scheme, according to SBI's website. SBI allows
customers to invest in (FMPs), which is a fixed tenure mutual fund scheme
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 Interval fund
Interval funds are a variant of closed -ended fund which will open for a specific
Period and close after the specified Period
B.SEBI CATEGORISATION OF SCHEMES
 Equity Schemes
Equity funds invest in equity shares issued by companies. The risk of such funds is
higher than that of debt funds, since equity offers a lower income and can be subject
to volatile changes in value.
Example- SBI Blue-chip Fund, SBI Focused Equity Fund
- SBI Blue Chip Fund can provide an opportunity for investors for long-term
growth by getting their money invested in the denoting companies. ... Large-
cap funds are less risky equity mutual funds as they consist of stocks of blue-
chip companies having large market capitalization
- SBI Focused Equity Fund aims to provide investors with opportunities of
long-term capital appreciation by investing in a concentrated portfolio
of equity and equity related instruments.
 Debt Schemes
Debt funds invest predominantly in debt securities. Debt Securities have a fixed
maturity date and pay a specific rate of Interest.
Example- SBI liquid Fund, SBI Savings Fund
- SBI Liquid fund is a open ended mutual fund scheme whose investment
universe comprises certificates of deposit (CDs), commercial papers (CPs)
and government treasury bills (T-bills) with maturities of up to 91 days.
- SBI Savings Fund is an ultra-short term debt fund which offers instant
redemption. Ultra-short term debt funds are money market
mutual fund schemes, which invest in very short term fixed income securities
like commercial paper, certificate of deposits, treasury bills etc.
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 Hybrid Schemes
Funds that have a combination of asset classes such as debt and equity and in some
cases gold in their portfolio are called hybrid funds.
Example- SBI Equity Hybrid Fund
- SBI Equity Hybrid Fund is an aggressive hybrid scheme. The category used
to be known as equity-oriented hybrid scheme or balanced scheme before the
re-categorization of mutual fund schemes by SEBI. These schemes invest in a
mix of equity (65-80 per cent) and debt (20-35 per cent)
- SBI Debt Hybrid Fund- To provide the investors an opportunity to invest
primarily in Debt and Money market instruments and secondarily in equity
and equity related instruments
 Solution oriented Schemes

(a) Retirement fund
(b) Children’s funds
 Other schemes
(a) Funds of funds
(b) International funds
(c) Index funds and exchange traded funds
(d) Real Estate Funds
(e) Real Estate Investment Trust
(f) Infrastructure Debt funds
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CHAPTER 3
REVIEW OF LITERATURE
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 Bodla and Garg (2007)evaluate the performance of 24 growth schemes of mutual
funds. They reveal that most of the schemes have outperformed the market during
the study period in terms of return. However, the difference in market return and
funds return is found insignificant. There exists a moderate positive correlation
between risk and return of the sample schemes. A large majority of the schemes have
succeeded in earning a risk premium irrespective of the performance measurement
model concerned. Most of the schemes have performed better than the market on the
basis of risk adjusted return also
 RakhiArora and RajniSofat (2008) says risk and return are the two inseparable
parts of an investment strategy. They have direct relationship between them: higher
the risks, higher are the returns and vice versa. The very basic consideration of an
investor while investing the money should be how to maximize the returns and what
are the risks involved in investing in a particular instrument.
 Ramamurthy and Reddy (2005) conducted a study to analyze “recent trends in the
mutual fund industry” and arrived at a conclusion that the main benefits for small
investors’ due to efficient management, investment diversification, easy
administration, lucrative return potential, liquidity, transparency, flexibility,
affordability, more choices and a proper regulation governed by SEBI. The study
also analyzed about recent trends in mutual fund industry like various exit and entry
policies of mutual fund companies, real estate schemes, commodity, bullion and
precious metals, banking sector investment in mutual fund, buying and selling of
mutual funds through online.
 SathyaSwaroopDebashish (2009) measured the performance of the equity based
mutual funds in India. 23 schemes were studied over a period of April 1996 to March
2009 (13 years). The analysis was done on the basis of mean return, beta risk, co-
efficient of determination, sharp ratio and Jensen alpha. The first analysis has been
done on the basis of returns, followed by a comparison between market returns and
the return on schemes.
 Selvaraj V Marammal Devi V (2007) 44 examine the performance of mutual funds,
they opined that “ the performance of an actively managed fund largely depends on
the investment decisions of its manager. Statistically, for every investor who
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outperforms the market, there is one who underperforms. Among those who
outperform their index before expenses, though, many end up underperforming after
expenses. Before expenses, a well-run index fund should have average performance.
By minimizing the impact of expenses, index funds should be able to perform better
than average”
 IN RBI study (1995) an attempt was made to study the financial performance of
private corporate business sector during the period 1994-95. Of the 1030 companies
covered in this study, 925 are non-financial companies and 105 are financial
companies. The results of the non-financial and financial companies are also
analyzed size-wise apart from the analysis of the consolidated results for the entire
sector. The good corporate performance during 1994-95 reflected in major
profitability ratios registering distinct improvement in the year under review as
compared to the previous year.
 Raghunathan and Prabina Das (1999) have made a study of the corporate
performance of post-Liberalization. In this study, they analyzed the performance of
Indian Manufacturing sector in the last 8 years since liberalization on the parameters
of profitability, liquidity, leverage and solvency. While the solvency and profitability
ratios were encouraging till 1996 they have been gradually diminishing after that.
This problem gets more pronounced when the EVA is calculated which shows that
the Indian Manufacturing sector has destroyed wealth, while the MNCs have
generated wealth for their shareholders. The study points that poor corporate
performance has led to an economic slowdown and not the other way round.
Corporate raised funds during the blacken days of equity markets and ended up
investing these funds at below their cost of capital. The outcome has been a
prolonged economic slowdown
 HotwaniRakhi (2013) the author examines the profitability position and growth of
company in light of sales and profitability of Tata Motors for past ten years. Data is
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analyzed through rations, standard deviations and coefficient of variance. The study
reveals that there not exists a strong relationship between sales & profitability of
company.
 Huda SalheMeften& Manish Roy Tirkey (2014) have studied the financial
analysis of Hindustan petroleum corporation ltd. The study is based on secondary
data. The company has got excellent gross profit ratio and trend is rising in with is
appreciable indicating efficiency in production cost. The net profit for the year 2010-
11 is excellent & it is 8 times past year indicating reduction in operating reduction in
operating expenses and large proportion of net sales available to the shareholders of
company.
 Pai, Vadivel and Kamala (1995) studied the diversified companies and financial
performance: A study. An effort was made to study the relationship between
diversified firms and their financial performance. Seven large firms having different
products-both related and otherwise-in their portfolio and operating in diverse
industries were analyzed. A set of performance measures / ratios was employed to
determine the level of financial performance. The results reveal that the diversified
firms studied have been healthy financial performance. However, variation in
performance from one firm to another has been observed and statistically established
 Jothi, K. &Geethalakshmi, A. (2016) this study tries to evaluate the profitability &
financial position of selected companies of Indian automobile industry using
statistical tools like, ratio analysis, mean, standard deviation, correlation. The study
reveals the positive relationship between profitability, short term and long term
capital.
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CHAPTER 4
RESEARCH METHODOLOGY
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4.1 RESEARCH
Research is a careful investigation or inquiry especially through search for new facts in any
branch of knowledge.
According to Clifford Woody, “research comprises defining and redefining problems,

formulating hypothesis or suggested solutions, collecting, organizing and evaluating data,
making deductions and reaching conclusion and further testing the conclusion whether they fit
into formulating hypothesis”.
Research is the systematic and objective analysis and recording of controlled observations that
may lead to development of generalizations, principles or theories results in prediction and
possibly ultimate control over events.
Research is "creative and systematic work undertaken to increase the stock of knowledge,
including knowledge of humans, culture and society, and the use of this stock of knowledge to
devise new applications.
Research is an art of scientific investigation. It is regarded as asystematic efforts to gain new

knowledge. The dictionary meaning of research is “a careful investigation or enquiry especially
through search for new facts in any branch of knowledge” “Research is an organized and
systematic way of finding answers to questions” Systematic because there is a definite set of
procedures and steps which you will follow. There are certain things in the research process
which are always done in order to get the most accurate results.
Research methodology is a way to systematically solve a research problem. It is a science of

studying how research is done scientifically. essentially it is the procedure by which the
researchers go about their work of describing, evaluating and predicting phenomenon. It aims
to give the work plan of research. It provides training in choosing methods materials , scientific
tools and techniques relevant for the solution of the problem
Research Methodology is the sum total of ways and means of planning, conducting and reporting
the outcomes of a research study.
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Research Methodology is the description, explanation and justification of various methods of
conducting research.
Thus research is an original addition to the available knowledge which contributes to its further
advancement. it is an attempt to pursue truth through the methods of the study , observation ,
comparison and experiment . in sum research is the search for knowledge using objective and
systematic methods to find solution to a problem
4.2 RESEARCH DESIGN
Research design is a master plan or model for conduct of formal investigation and survey it is
the specification method and procedures for acquiring information needed for solving the
problem. Research design is the blue print for doing the research in a cost effective manner. “
Research is the arrangement of condition for collecting and analysis of data in a manner that
aims to combine relevance to the research purposes with economy in procedure”. A research
design is and specifies frame work for controlling the collection. It is the basic plan, which
guides the data collection analysis phase of the research.
A research design provides a framework for the collection and analysis of data. Research
design represents structure that guides the execution of a research method and the analysis of
subsequent data. A choice of research design reflects decision about the priority being given to
a range of dimensions of the research process. A research design is basically a plan of
action .once the research problem is selected then it must be executed to get the results .for this
a series of decisions are to be taken at the beginning itself . Research design provides clarity to
the thoughts and actions of the researcher
4.3METHOD OF DATA COLLECTION
The data can be collected in to sources which are Primary data source and secondary data source
here secondary data is used
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4.3.1 SECONDARY DATA
Secondary data are the information collected from those data which have already been obtained
by some other researcher.
It is second hand information. It mainly consist of data and information collected from company
records, company profiles, company’s annual report and websites and also from the text books.
4.4 TOOLS FOR ANALYSIS
RISK AND RETURN ANALYSIS OF EQUITY SCHEMES

Primary objective of every mutual fund investor is making positive returns through them. Risk is
always there in mutual fund and there is no guaranteed return one mutual funds. More the risk
more the return, every mutual funds have their own risk level for suitability purpose. Equity
based mutual funds are funds which are predominantly invest in equity and which have higher
risk than debt mutual funds.
RISK
Standard deviation is a measure of variability which is used as the standard measure of the total
risk of individual assets and the residual risk of portfolios of assets. The standard deviation of
mutual fund schemes has been calculated by using the following equation:
 p = √1/n-1 ∑ (Rpt – Rp) 2

 p is the risk of fund portfolio.
 m = √1/n-1 ∑ (Rmt – Rm) 2
 m is the risk of market portfolio
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COMPARATIVE BALANCE SHEET
The comparative balance sheet analysis is the study of the trend of the same items, group of
items and computed items in two or more balance sheets of the same business enterprise on
different dates. The changes in periodic balance sheet items reflect the conduct of a business.
The changes can be observed by comparison of the balance sheet at the beginning and at the end
of a period and these changes can help in forming an opinion about the progress of an enterprise.
The comparative balance sheet has two columns for the data of original balance sheet. A third
column is used to show increase in figures. The fourth column may be added for giving
percentages of increase or decrease. A comparative balance sheet presents side-by-side
information about an entity's assets, liabilities, and shareholders' equity as of multiple points
in time
TREND ANALYSIS
The financial statement may be analyzed by computing trends of series of information. This
method determines the direction upwards or downwards and involves the computation of the
percentage relationship that each statement item bears to the same item in the base year the
information for a number of years is taken up and one year generally the first year, is taken as a
base year. The figures of the base year are taken as 100 and trend ratios for other years are
calculated on the basis of base year. The analyst is able to see the trend figures, whether upward
or down ward. The base period should be carefully selected. The base period should be a normal
period. The price level changes in subsequent years may reduce the utility of trend ratios.
4.5 DURATION OF THE STUDY
The duration of the study related with FINANCIAL PERFORMANCE ANALYSIS OF SBI
MUTUAL FUNDS is 60 days from 2014to 2018.
4.6 Scope and Limitations of study
4.6.1 Scope of the study
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The study is on SBI Mutual fund. This study clearly defines financial status of the concern
during the working period. The study report being made here brings out the financial structure
and position of the SBI mutual fund comparing from different years.
The financial study helps us to analyze the financial background and utilization of the income
earned through the organization process.
4.6.1 Limitations of the study
 The study and analysis is based on quantitative data and qualitative factors are not
included
 The data used for analysis is secondary data,, the quality of study largely depends on
quality of data.
 In-depth study of dynamical aspects of the company cannot be done due to time
constraints
 Finance is the most confidential matter of every business so they are reluctant to
provide some important information.
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CHAPTER 5
ANALYSIS AND
INTERPRETATION
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5.1 RISK AND RETURN ANALYSIS
RISK
Standard deviation is a measure of variability which is used as the standard measure of the total
risk of individual assets and the residual risk of portfolios of assets. The standard deviation of
mutual fund schemes has been calculated by using the following equation:
p = √1/n-1 ∑ (Rpt – Rp) 2
p is the risk of fund portfolio.
m = √1/n-1 ∑ (Rmt – Rm) 2
m is the risk of market portfolio
Table 5.1.1
NAME OF THE SCHEME STANDARD DEVIATION
SBI Blue Chip Fund 12.31
SBI Magnum Equity ESG Fund 12.22
SBI Magnum Multicap Fund 12.67
SBI Contra Fund 14.56
SBI Large & Midcap Fund 13.00
SBI Magnum Midcap Fund 15.51
SBI Magnum Global Fund 12.91
SBI Focused Equity Fund 13.85
SBI Small Cap Fund 19.11
SBI Magnum Tax gain Scheme 12.93
SBI Healthcare Opportunities Fund 15.92
SBI Banking & Financial Services Fund 17.62
SBI PSU Fund 17.50
SBI Magnum COMMA Fund 15.31
SBI Infrastructure Fund 16.57
SBI Consumption Opportunities Fund 15.05
SBI Technology Opportunities Fund (Previously 13.13
known as SBI IT Fund)
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Beta is the systematic risk. Beta is undiversificable in nature. It has been calculated by using this
formula
Beta = COV (Rp, Rm) / 2m
Where, p is systematic risk of the portfolio, COV (Rp, Rm) covariance between the return of
portfolio and market, 2m is variance of market return.
Table 5.1.2
NAME OF THE SCHEME BETA

SBI Blue Chip Fund 0.92
SBI Magnum Equity ESG Fund 0.88
SBI Magnum Multicap Fund 0.91
SBI Contra Fund 0.99
SBI Large & Midcap Fund 0.87
SBI Magnum Midcap Fund 0.84
SBI Magnum Global Fund 0.64
SBI Focused Equity Fund 0.87
SBI Small Cap Fund 0.88
SBI Magnum Tax gain Scheme 0.93
SBI Healthcare Opportunities Fund 0.85
SBI Banking & Financial Services Fund 0.99
SBI PSU Fund 0.85
SBI Magnum COMMA Fund 0.82
SBI Infrastructure Fund 0.90
SBI Consumption Opportunities Fund 0.83
SBI Technology Opportunities Fund (Previously 0.81
known as SBI IT Fund)
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RETURN
LUMPSUM RETURN OF EQUITY SCHEMES OF SBI MUTUAL FUND

Lump sum amount=100,000.
Table 5.1.3
RISK 3-YEAR 5-YEAR 10 YEAR 3-YEAR 5-YEAR 10- YEAR

RETURN RETURN RETURN VALUE VALUE VALUE
SBI Focused Equity High 14.21% 18.47% 23.61% 148975 233368 832791
Fund (Inception Risk
Date 17-09-2004)
SBI Small Cap Fund High 15.95% 26.17% 155888 319728 Purchase
(Inception Date Risk only
09-09-2009) through
SIP max
25000
SBI Magnum Medium 12.76% 14.37% 15.99% 143372 195686 440763
Equity ESG Fund
(Inception Date
01-01-1991)
SBI Technology High Risk 13.20% 14.02% 20.89% 145057 192710 666659
Opportunities
Fund(Inception
Date 05-07-1999)
SBI Magnum Medium 13.95% 18.33% 16.09% 147960 231993 444578
MultiCap
Fund(Inception
Date 29-09-2005)
SBI Magnum Relatively 8.52% 15.38% 10.21 127800 204481 20,835
Global Risky
Fund(Inception
Date 30-09-1994)
SBI Blue chip Fund Medium 11.43% 15.49% 16.25% 138359 205457 450744
SBI Large and Medium 13.31% 16.33% 17.23% 145480 213039 490216
Midcap Fund
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SBI Magnum Tax Medium 10.30% 12.90% 15.04% 134192 183430 405965
Gain Scheme
SBI Magnum Risky 5.94% 16.06% 19.86% 118899 210578 611988

Midcap Fund
SBI Consumption High Risk 16.08% 15.29% 23.85% 156413 203685 849102
Opportunities
Fund
SBI Healthcare High Risk -3.91% 8.04% 20.33% 88723 147205 636413
Opportunities
Fund
SBI PSU Fund High Risk 6.44% 5.26% - 120591 129216
SBI Infrastructure High Risk 9.87% 14.32% 8.63% 132629 195259 228822
Fund
SBI Banking and High Risk 23.62% - - 188915

Financial Services
Fund
SBI Magnum High Risk 14.23% 12.90% 9.82% 149053 183430 255161
COMMA fund
SBI Nifty Index Medium 14.91% 12.13% 12.96% 151731 177259 338257
fund
28
SIP RETURN OF EQUITY SCHEMES OF SBI MUTUAL FUND
SIP AMOUNT IS 10000 PER MONTH.
Table 5.1.4
Fund Risk 1 3 5 7 10
Name 120000 360000 600000 840000 1200000
SBI Magnum Medium 15.44% 10.99% 10.82% 13.02% 12.52%
Equity ESG
Fund 129816 424505 787624 1335791 2303332
SBI Blue- Medium 11.33% 7.93% 9.79% 13.55% 13.38%

chip Fund 127244 405830 767691 1361308 2411588
SBI Magnum Relatively 1.28% 4.88% 7.33% 13.23% 14.45%

Global Fund Risky 120830 387769 721930 1345844 2553744
SBI Large Medium 11.81% 9.32% 10.80% 14.74% 1411%

and Midcap
Fund 127546 414244 787232 1420375 2507650

Tax gain
Scheme 126298 396050 725192 1262962 2194319
SBI Risky 3.58% -0.30% 5.56% 13.93% 14.93%

Magnum
Midcap Fund 122314 358338 690561 1379900 2620323

Multi-cap 128305 415891 809831 1477752 2552376
Fund
SBI Focused High Risk 15.79% 12.96% 13.26% 15.97% 16.83%

Equity Fund
130034 436826 836730 1484090 2902004
SBI High Risk 2.05% 10.33% 12.63% 14.16% 17.87%

Consumption
29
Opportunitie 121328 420430 823792 1391275 3069216
s Fund
SBI High Risk 16.17% 19.25% 13.56% 15.36% 15.29%

Technology 130270 477758 842955 1452147 2671437
Opportunitie
s Fund
SBI Health- High Risk 4.50% -2.54% -1.18% 6.36% 11.60%
Care
Opportunitie 122905 346086 582254 1053136 2193151
s Fund
SBI PSU High Risk 4.43% -3.29% 0.58% 3.05% -

Fund 122860 342047 608906 936032
SBI Banking High Risk 24.32% 18.72% - - -

and Financial 135283 474214
services
SBI High Risk 12.43% 4.59% 7.45% 10.57% 8.04%

Infrastructure 127935 386080 724103 1223889 1816648
Fund
SBI Magnum High Risk 6.97% 3.83% 8.93% 10.54% 7.94%

COMMA 124484 381678 751401 1222579 1807124
Fund
SBI Nifty Medium 15.85% 13.10% 11.31% 12.01% 10.90%

Index Fund 130071 437711 797270 1284474 2113046
SBI Small High Risk 2.44% 8.49% 14.72% 22.69% -
Cap Fund 121580 409206 867420 1884826 Purchase
only
through
SIP Max
210000
30
5.2 TREND ANALYSIS
a. TREND ANALYSIS OF CURRENT ASSETS
Table 5.2.1 Trend Analysis of Current Assets
Year Current Assets (in lacs) Trend Percentage

2013-14 31457.71 100
2014-15 31446.52 99.96
2015-16 37241.70 118.38
2016-17 48468.55 154.07
2017-18 71402.34 226.97
Trend analysis of current assets

250
200
150 Trend analysis of current

assets
100
50
0
2013-14 2014-15 2015-16 2016-17 2017-18
Figure no. 5.1
INTERPRETATION
The table and figure show that there is an increasing trend. During these years it shows an
increasing trend on its current assets, which means that the firm can meet its current liabilities.
31
a. TREND ANALYSIS OF CURRENT LIABILITIES
Table 5.2.2 Trend Analysis of Current Liabilities
Year Current Liabilities (in lacs) Trend Percentage

2013-14 10350.84 100
2014-15 12519.55 120.9
2015-16 13468.46 130.1
2016-17 20900.14 201.9
2017-18 23559.12 227.6
Trend analysis of current liabilities

250
200
150 Trend analysis of current INTERPRETATION

liabilities
100 The increasing

trend in current
50
liability is not good
0 for the firm. From
2013-14 2014-15 2015-16 2016-17 2017-18
above table and figure
show an increasing
trend from 2014-2018.
5.3 COMPARATIVE BALANCE SHEET ANALYSIS
Comparative Balance Sheet analysis is a method of analyzing a company’s balance sheet over
time to identify changes and trends. It presents side-by-side information about an entity’s assets,
liabilities, and shareholders’ equity as of multiple points in time.
32
Table 5.3.1 Comparative Balance Sheet as at March 31, 2014
Absolute %
Particulars Notes As at 31/03/2014 As at 31/03/2013 Change Change
EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share Capital 2 500,000,000 500,000,000 - -
(b) Reserves and surplus 3 3,931,836,380 2,959,120,963 972715417 32.87
Non-current liabilities
(a) Other long term 4 27,183,050 19,323,740 7859310 40.67
liabilities
(b) Long-term provisions 5 55,339,189 63,624,681 -8285492 -13.02
(c) Deferred tax liabilities 11 18,997,138 - - -
(Net)
Current liabilities
( c ) Trade payables 6 165,352,551 179,348,681 -139961130 -78.03
(d) Other current liabilities 7 12,700,895 20,730,570 -8029675 -38.73
(e) Short-term provisions 8 857,030,480 701,146,877 155883603 22.23
TOTAL 5,568,439,683 4,443,295,512 1125144171 25.32
ASSETS
Non-current assets
(a) Fixed Assets
i. Tangible assets 9 1,732,334,537 46,263,025 1686071512 36.44
ii. Intangible assets 9 10,723,919 12,181,989 -148070 -11.96
iii. Capital work-in- 9 1,292,140 1,640,255,902 -163896372 -99.92
progress
(b) Long-term investments 10 449,866,100 182,307,200 267558900 146.7
(c) Deferred tax assets 11 - 27,197,541 - -
(Net)
(d) Long-term loans and 12 103,437,606 66,582,438 36855168 55.35
advances
(e) Other non-current 13 8,222,246 7,777,012 445234 5.72
assets
Current assets
(a) Current investments 14 2,203,460,399 1,200,000,000 1003460399 83.62
(b) Trade receivables 15 155,809,917 191,383,189 -35573272 -18.5
(c) Cash and bank 16 656,482,069 836,653,156 -180171087 -21.53
balances
(d) Short-term loans and 17 239,122,203 188,570,212 50551991 26.80
33
advances
(e) Other current assets 18 7,688,547 44,123,848 -36435301 -82.57
TOTAL 5,568,439,683 4,443,295,512 1125144171 25.32
INTERPRETATION
Comparative Balance sheet reveals that SBI Mutual Fund pvt Ltd total liability and total assets
increased by Rs. 1125144171
As at 31/03/2015 As at Absolute %
Particulars Notes (in lacs) 31/03/2014 Change Change
(in lacs)
(a) Share Capital 2 5,000.00 5,000.00 - -
(b) Reserves and surplus 3 48,776.94 39,318.36 9458.58 24.05
(a)Deferred tax liabilities (Net) 4 443.06 189.97 253.09 133.2
( b )Other long term liabilities 5 160.44 271.83 -111.39 -40.97
(c) Long-term provisions 6 612.12 553.39 58.73 10.61
Current liabilities
( c ) Trade payables 7 1,838.22 987.41 850.81 86.16
(d) Other current liabilities 8 435.00 237.13 197.87 83.44
(e) Short-term provisions 9 10,246.33 9,126.30 1123.03 12.30
TOTAL 67,512.11 55,684.39 11827.72 21.24
ASSETS
Non-current assets
(a) Fixed Assets 10
I. Tangible assets 17,032.14 17,323.35 -291.21 -1.68
II. Intangible assets 118.27 107.24 11.03 10.28
III. Capital work-in- 2.39 12.92 -10.53 -81.50
progress
34
( b )Long-term investments 11 10,995.15 4,498.66 6496.49 144.4
(c) Long-term loans and 12 7,834.73 2,202.29 5632.44 255.7
advances
(d) Other non-current assets 13 82.91 82.22 0.69 0.83
Current assets
(a) Current investments 14 14,376.24 22,034.60 -7658.36 -34.75
(b) Trade receivables 15 1,863.76 1,558.10 305.66 19.61
(c) Cash and bank balances 16 8,036.28 6,564.82 1471.46 22.41
(d) Short-term loans and 17 7,118.94 1,223.30 5895.64 481.9
advances
(e) Other current assets 18 51.30 76.89 -25.59 -33.28
TOTAL 67,512.11 55,684.39 11827.72 21.24
INTERPRETATION
Comparative Balance sheet reveals that SBI Mutual Fund pvt Ltdtotal liability and total assets
increased by Rs. 11827.72 lakhs
35
As at As at 31/03/2015 Absolute %
Particulars Notes 31/03/2016 (in (in lacs) Change Change
lacs)
(a) Share Capital 2 5,000.00 5,000.00 - -
(a)Deferred tax liabilities (Net) 4 1,153.08 443.06 710.02 160.2
( b )Other long term liabilities 5 67.51 160.44 -92.93 -57.92
(c) Long-term provisions 6 431.04 612.12 -181.08 -29.58
Current liabilities
(a) Trade payables 7 2,911.56 2,151.22 760.34 35.34
(b) Other current liabilities 8 186.69 435.00 -248.31 -57.08
(c) Short-term provisions 9 10,370.21 9,933.33 436.88 4.39
TOTAL 78,211.13 67,512.11 10699.02 15.84
ASSETS
Non-current assets
(a) Fixed Assets 10
a) Tangible assets 16,838.74 17,032.14 -193.40 -1.13
b) Intangible assets 945.35 118.27 827.08 699.3
c) Capital work-in- - 2.39 - -
progress
d) Intangible assets 40.94 - - -
under development
(c)Long-term loans and 12 6,994.42 7,834.73 -840.31 -10.72
advances
(d) Other non-current assets 13 1,002.66 82.91 919.75 11.09
Current assets
(a) Current investments 14 18,499.59 14,376.24 4123.35 28.68
(c) Cash and bank balances 16 6,882.40 8,036.28 -1153.88 -14.35
36
advances
(e) Other current assets 18 63.43 51.30 12.13 23.64
TOTAL 78,211.13 67,512.11 10699.02 15.84
INTERPRETATION
Comparative Balance sheet reveals that SBI Mutual Fund pvt Ltdtotal liability and total assets
As at 31/03/2017 As at Absolute % Change

Particulars Notes (in lacs) 31/03/2016 Change
(in lacs)
37
(a) Share Capital 2 5000.00 5,000.00 - -
(a)Deferred tax liabilities 4 41.46 1,153.08 -1111.62 -96.40
(Net)
( b )Other long term 5 8.44 12.32 -3.88 -31.49
liabilities
(c) Long-term provisions 6 456.66 431.04 25.62 5.94
Current liabilities
(a) Trade payables 7 6,967.71 2,849.61 4118.10 144.5
(b) Other current liabilities 8 186.60 241.88 -55.28 -22.85
TOTAL 98,504.54 78,211.13 20293.41 25.94
ASSETS
Non-current assets
(a) Fixed Assets 10
a) Tangible assets 16,618.11 16,838.74 -220.63 -1.31
b) Intangible assets 1,034.79 945.35 89.44 9.46
c) Capital work-in- 7.40 - - -
progress
d) Intangible assets 216.55 40.94 175.61 428.9
under development
( c )Long-term loans and 12 6,757.36 7,024.12 -266.76 -3.79
advances
(d) Other non-current assets 13 574.73 922.96 -348.23 -37.72
Current assets
(c) Cash and bank balances 16 8,570.07 6,882.40 1687.67 24.52
advances
TOTAL 98,504.54 78,211.13 20293.41 25.94
INTERPRETATION
increased by Rs. 20293.41lakhs
38
As at 31/03/2018 As at 31/03/2017 Absolute %

Particulars Notes (in lacs) (in lacs) Change Change
(a) Share Capital 2 5,000.00 5,000.00 - -
(a)Deferred tax liabilities 4 - 41.46 - -
(Net)
( b )Other long term liabilities 5 - 8.44 - -
(c) Long-term provisions 6 3,662.70 956.66 2706.04 282.8
Current liabilities
(a) Trade payables 7 9,891.28 6,967.71 2923.57 41.95
(b) Other current liabilities 8 344.78 161.27 183.51 113.7
TOTAL 1,29,096.21 98,504.54 30591.67 31.05
ASSETS
Non-current assets
(a) Fixed Assets 10
39
a) Property plant and 16,623.51 16,618.11 5.40 0.03
equipment
b) Intangible assets 940.27 1,034.79 -94.52 -9.13
c) Capital work-in- 3.70 7.40 -3.70 -50
progress
d) Intangible assets under 164.59 216.55 -51.96 -23.99
development
( b )Non-current investments 11 27,597.78 24,827.05 2770.73 11.16
( c )Deferred tax assets (Net) 4 738.32 - - -
(d) Long-term loans and 12 11,331.83 6,757.36 4574.47 67.69
advances
(e) Other non-current assets 13 293.87 574.73 -280.86 48.86
Current assets
(c) Cash and bank balances 16 7,390.99 8,570.07 -1179.08 -13.75
advances
TOTAL 1,29,096.21 98,504.54 30591.67 31.05
INTERPRETATION
40
CHAPTER 6
FINDINGS, SUGGESTION AND

CONCLUSION
41
FINDINGS
 SBI Magnum Equity ESG Fund has less standard deviation which means that this
particular fund is less risky as compared to other.
 SBI Small Cap Fund has high standard deviation which means that this particular fund is
more risky and due to this reason only Systematic Investment plan is allowed in this
scheme
 SBI Consumption Opportunities Fund, SBI Health Care Opportunities fund, SBI Banking
and financial services Fund have high risk because these are sector oriented funds
 From the analysis we can find that SBI Magnum Tax Gain scheme provide more returns
ie,17.63 %,as compared to the8.86% of PPF.
 It is analyzed that when the fund have higher amount of risk they will also give a higher
amount of return also.
 From the analysis we can see that, during these years it shows an increasing trend on its
current assets, which means that the firm can meet its current liabilities.
 The increasing trend in current liability is not good for the firm. The analysis shows an
increasing trend from 2014-2018.
 Comparative Balance Sheet reveals that SBI Mutual Fund total liability and total assets
increased during these years
 Through the analysis it is identified that company is collecting receivables in the actual
time period itself.
 Firm is using their investors fund efficiently to generate more revenue
42
 Overall Financial position of the concern is good.
SUGGESTIONS
 Equity schemes are best if the investors are ready to invest for long term.
 If an investor want the safety of debt and aggressiveness of equity, he can choose equity
hybrid funds
 Systematic Investment Plan are suitable for fixed income groups
 If investors want to invest in across sectors they can invest in Multicap Funds.
 As the sales of the company are increasing year by year it should try to maintain this
trend
 The company should use reserves and surplus to make payments to the shareholders
 Sales should be increased without the additions of expenses
 If an investor want to invest his money for short term he can invest in Debt schemes
 The company need to maintain the position of current liability
 It can increase advertising and marketing for increasing the sale.
 Set up a sale incentive program for the sales team or the sales staff.
43
CONCLUSION
SBI Mutual Fund Pvt Limited is one of the biggest player in mutual fund industry for
more than 22 years. The major tools resorted to identify facts and figures are risk and return
analysis, trend analysis and comparative Balance sheet analysis
Risk and return analysis help in understanding the risk underlying in different mutual fund
schemes and help the investors in choosing the right funds according to his time horizon.
Financial statement analysis is not only helpful to analyze the present financial position it also
enables to study the future prospects and the expansion plans of the company. . From the study it
is found that financial health of firm is satisfactory.
44
BIBLIOGRAPHY
45
BOOK REFERENCES
 Kothari C R, Research Methodology, Methods and Techniques, Wiley Eastern

Ltd, New Delhi 1993
 Maheswari S N, Management Accounting, Sultan Chand and sons, New
Delhi,2001
 Gupta S P, Management Accounting, SahityaBhavan Publication, Agra, 1988
 Mahmohan&GogalSn, principles of Management Accounting,SahityaBhavan,
Agra, 1982
WEBSITES
 https://www.sbimf.com
 https://www.emerald.com/insight/content/doi/10.1108/17439131211216620/full/h
tml
 https://www.myaccountingcourse.com/financial-ratios
 https://www.accountingcoach.com
46
APPENDIX
47
Statement of Profit And Loss For The Year Ended March 31, 2014
Particulars Notes Year Ended Year Ended

31/03/2014 31/03/2013
Revenue from operations 19 3,851,695,558 2,763,436,285
Other income 20 162,759,209 222,609,129
Total Revenue 4,014,454,767 2,986,045,414
Expenses:
Employee benefit expense 21 918,607,021 842,593,099
Administrative and other expenses 22 705,399,241 898,473,911
Depreciation & amortization expenses 23 76,563,409 39,679,364
Total Expenses 1,700,569,671 1,780,746,374
Profit before Tax 2,313,885,096 1,205,299,040
Tax Expenses:
-Current Tax 710,000,000 350,000,000
-Deferred Tax 46,194,679 (1,529,969)
Profit (Loss) for the period 1,557,690,417 856,829,009
Earnings per equity share:
(1) Basic 24 311.54 171.37
(2) Diluted 311.54 171.37
48

31/03/2015 (in lacs) 31/03/2014(in lacs)
Revenue from operations 19 43,397.70 38,516.96
Other income 20 1,847.84 1,627.59
Total Revenue 45,245.54 40,144.55
Expenses:
Employee benefit expense 21 10,483.09 9,196.37
Other expenses 22 9,916.76 7,043.70
Depreciation & amortization expenses 23 536.68 765.63
Total Expenses 20,936.53 17,005.70
Profit before Tax 24,309.01 23,138.85
Tax Expenses:
-Current Tax 7,665.15 7,100.00
-Deferred Tax 300.36 461.95
Profit (Loss) for the period 16,343.50 15,576.90
(1) Basic 24 326.87 311.54
(2) Diluted 326.87 311.54
49
31/03/2016 (in lacs) 31/03/2015(in lacs)
Other income 20 1,084.33 1,847.84
Total Revenue 55,240.20 45,245.54
Expenses:
Depreciation & amortization expenses 22 974.70 536.68
Other expenses 23 18,659.00 10,692.55
Total Expenses 30,094.62 20,936.53
Tax Expenses:
-Current Tax 7,900.00 7,665.15
-Deferred Tax 710.02 300.36
(1) Basic 24 330.71 326.87
(2) Diluted 330.71 326.87

31/03/2017 (in lacs) 31/03/2016(in lacs)
Other income 20 4,153.29 1,084.33
Total Revenue 77,787.46 55,240.20
Expenses:
Depreciation & amortization expenses 22 1,260.74 974.72
50
Other expenses 23 30,209.01 18,640.74
Total Expenses 44,797.87 30,094.62
Tax Expenses:
-Current Tax 10,575.00 7,900.00
-Deferred Tax (1,111.62) 710.02
-Adjustment of tax relating to earlier periods 1,094.35 -
(1) Basic 24 448.64 330.71
(2) Diluted 448.64 330.71

31/03/2018 (in lacs) 31/03/2017(in lacs)
Revenue from operations 19 1,23,672.64 73,634.17
Other income 20 3,529.58 4,153.29
Total Revenue 1,27,202.22 77,787.46
Expenses:
Depreciation & amortization expenses 22 1,503.19 1,260.74
Other expenses 23 59,391.68 30,209.01
Total Expenses 76,879.81 44,797.87
Tax Expenses:
-Current Tax 18,250.00 10,575.00
-Deferred Tax (779.78) (1,111.62)
-Adjustment of tax relating to earlier periods (251.12) 1,094.35
51
(1) Basic 24 6.62 4.49
(2) Diluted 6.62 4.49
Comparative Balance Sheet as at March 31, 2014
Particulars Notes As at 31/03/2014 As at 31/03/2013

(f) Share Capital 2 500,000,000 500,000,000
(g) Reserves and surplus 3 3,931,836,380 2,959,120,963
(f) Other long term liabilities 4 27,183,050 19,323,740
(g) Long-term provisions 5 55,339,189 63,624,681
(h) Deferred tax liabilities (Net) 11 18,997,138 -
Current liabilities
( c ) Trade payables 6 165,352,551 179,348,681
(i) Other current liabilities 7 12,700,895 20,730,570
(j) Short-term provisions 8 857,030,480 701,146,877
TOTAL 5,568,439,683 4,443,295,512
ASSETS
Non-current assets
(f) Fixed Assets
iv. Tangible assets 9 1,732,334,537 46,263,025
v. Intangible assets 9 10,723,919 12,181,989
vi. Capital work-in-progress 9 1,292,140 1,640,255,902
(g) Long-term investments 10 449,866,100 182,307,200
(h) Deferred tax assets (Net) 11 - 27,197,541
(i) Long-term loans and advances 12 103,437,606 66,582,438
(j) Other non-current assets 13 8,222,246 7,777,012
Current assets
52
(f) Current investments 14 2,203,460,399 1,200,000,000
(g) Trade receivables 15 155,809,917 191,383,189
(h) Cash and bank balances 16 656,482,069 836,653,156
(i) Short-term loans and advances 17 239,122,203 188,570,212
(j) Other current assets 18 7,688,547 44,123,848
TOTAL 5,568,439,683 4,443,295,512
53
As at 31/03/2015 As at 31/03/2014
Particulars Notes (in lacs) (in lacs)
(e) Share Capital 2 5,000.00 5,000.00
(f) Reserves and surplus 3 48,776.94 39,318.36
(a)Deferred tax liabilities (Net) 4 443.06 189.97
( b )Other long term liabilities 5 160.44 271.83
(h) Long-term provisions 6 612.12 553.39
Current liabilities
( c ) Trade payables 7 1,838.22 987.41
(i) Other current liabilities 8 435.00 237.13
(j) Short-term provisions 9 10,246.33 9,126.30
TOTAL 67,512.11 55,684.39
ASSETS
Non-current assets
(a) Fixed Assets 10
IV. Tangible assets 17,032.14 17,323.35
V. Intangible assets 118.27 107.24
VI. Capital work-in-progress 2.39 12.92
( b )Long-term investments 11 10,995.15 4,498.66
(g) Long-term loans and advances 12 7,834.73 2,202.29
(h) Other non-current assets 13 82.91 82.22
Current assets
(f) Current investments 14 14,376.24 22,034.60
(g) Trade receivables 15 1,863.76 1,558.10
(h) Cash and bank balances 16 8,036.28 6,564.82
(i) Short-term loans and advances 17 7,118.94 1,223.30
(j) Other current assets 18 51.30 76.89
TOTAL 67,512.11 55,684.39
54
As at 31/03/2016 As at 31/03/2015
(e) Share Capital 2 5,000.00 5,000.00
(f) Reserves and surplus 3 58,091.04 48,776.94
(a)Deferred tax liabilities (Net) 4 1,153.08 443.06
(g) Long-term provisions 6 431.04 612.12
Current liabilities
55
(d) Trade payables 7 2,911.56 2,151.22
(e) Other current liabilities 8 186.69 435.00
(f) Short-term provisions 9 10,370.21 9,933.33
TOTAL 78,211.13 67,512.11
ASSETS
Non-current assets
(a) Fixed Assets 10
e) Tangible assets 16,838.74 17,032.14
f) Intangible assets 945.35 118.27
g) Capital work-in-progress - 2.39
h) Intangible assets under development 40.94 -
(c)Long-term loans and advances 12 6,994.42 7,834.73
(h) Other non-current assets 13 1,002.66 82.91
Current assets
TOTAL 78,211.13 67,512.11
56
As at 31/03/2017 As at 31/03/2016
(d) Share Capital 2 5000.00 5,000.00
(e) Reserves and surplus 3 72,097.84 58,091.04
(a)Deferred tax liabilities (Net) 4 41.46 1,153.08
(f) Long-term provisions 6 456.66 431.04
Current liabilities
(e) Trade payables 7 6,967.71 2,849.61
(f) Other current liabilities 8 186.60 241.88
(g) Short-term provisions 9 13,745.83 10,432.16
TOTAL 98,504.54 78,211.13
ASSETS
Non-current assets
(a) Fixed Assets 10
e) Tangible assets 16,618.11 16,838.74
f) Intangible assets 1,034.79 945.35
g) Capital work-in-progress 7.40 -
h) Intangible assets under development 216.55 40.94
( c )Long-term loans and advances 12 6,757.36 7,024.12
(h) Other non-current assets 13 574.73 922.96
Current assets
57
TOTAL 98,504.54 78,211.13
58
As at 31/03/2018 As at
Particulars Notes (in lacs) 31/03/2017
(in lacs)
(d) Share Capital 2 5,000.00 5,000.00
(e) Reserves and surplus 3 96,880.39 72,097.84
(a)Deferred tax liabilities (Net) 4 - 41.46
( b )Other long term liabilities 5 - 8.44
(f) Long-term provisions 6 3,662.70 956.66
Current liabilities
(f) Trade payables 7 9,891.28 6,967.71
(g) Other current liabilities 8 344.78 161.27
(h) Short-term provisions 9 13,317.06 13,271.16
TOTAL 1,29,096.21 98,504.54
ASSETS
Non-current assets
(a) Fixed Assets 10
e) Property plant and equipment 16,623.51 16,618.11
f) Intangible assets 940.27 1,034.79
g) Capital work-in-progress 3.70 7.40
h) Intangible assets under development 164.59 216.55
( b )Non-current investments 11 27,597.78 24,827.05
( c )Deferred tax assets (Net) 4 738.32 -
(i) Long-term loans and advances 12 11,331.83 6,757.36
(j) Other non-current assets 13 293.87 574.73
Current assets
TOTAL 1,29,096.21 98,504.54
59
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Dude Chettan

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Dude Chettan

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CHAPTER 1

1.2 PROBLEM STATEMENT

1.3 OBJECTIVES OF THE STUDY

 To study the profitability at SBI mutual fund

1.4 SIGNIFICANCE OF THE STUDY

 Better financial performance plays a vital role in success of the organization

Mutual Funds in India have a three tier structure of Sponsor-Trust-Asset Management

1. SEBI modified the provisions regarding the disclosure of Executive Remuneration by

4. SEBI issued guidelines regarding categorization and rationalization of Mutual Fund

Some of the milestones of SBI are:

1987 - Establishment of SBI Mutual Fund

VISION AND MISSION

Be the most trusted and respected Asset Manager

Ethical, Responsive and innovative Partner in investment solutions

TYPES OFMUTUAL FUND

B.SEBI CATEGORISATION OF SCHEMES

 Solution oriented Schemes

According to Clifford Woody, “research comprises defining and redefining problems,

Research is an art of scientific investigation. It is regarded as asystematic efforts to gain new

Research methodology is a way to systematically solve a research problem. It is a science of

4.2 RESEARCH DESIGN

4.3METHOD OF DATA COLLECTION

4.4 TOOLS FOR ANALYSIS

RISK AND RETURN ANALYSIS OF EQUITY SCHEMES

 p = √1/n-1 ∑ (Rpt – Rp) 2

4.5 DURATION OF THE STUDY

4.6 Scope and Limitations of study

4.6.1 Scope of the study

4.6.1 Limitations of the study

p = √1/n-1 ∑ (Rpt – Rp) 2

p is the risk of fund portfolio.

m = √1/n-1 ∑ (Rmt – Rm) 2

m is the risk of market portfolio

Beta = COV (Rp, Rm) / 2m

NAME OF THE SCHEME BETA

LUMPSUM RETURN OF EQUITY SCHEMES OF SBI MUTUAL FUND

RISK 3-YEAR 5-YEAR 10 YEAR 3-YEAR 5-YEAR 10- YEAR

SBI Magnum Risky 5.94% 16.06% 19.86% 118899 210578 611988

SBI Banking and High Risk 23.62% - - 188915

SBI Blue- Medium 11.33% 7.93% 9.79% 13.55% 13.38%

SBI Magnum Relatively 1.28% 4.88% 7.33% 13.23% 14.45%

SBI Large Medium 11.81% 9.32% 10.80% 14.74% 1411%

SBI Magnum Medium 9.83% 6.29% 7.51% 11.45% 11.61%

SBI Risky 3.58% -0.30% 5.56% 13.93% 14.93%

SBI Magnum Medium 13.02% 9.59% 11.94% 15.85% 14.44%

SBI Focused High Risk 15.79% 12.96% 13.26% 15.97% 16.83%

SBI High Risk 2.05% 10.33% 12.63% 14.16% 17.87%

SBI High Risk 16.17% 19.25% 13.56% 15.36% 15.29%

SBI PSU High Risk 4.43% -3.29% 0.58% 3.05% -

SBI Banking High Risk 24.32% 18.72% - - -

SBI High Risk 12.43% 4.59% 7.45% 10.57% 8.04%

SBI Magnum High Risk 6.97% 3.83% 8.93% 10.54% 7.94%

SBI Nifty Medium 15.85% 13.10% 11.31% 12.01% 10.90%

a. TREND ANALYSIS OF CURRENT ASSETS

Table 5.2.1 Trend Analysis of Current Assets

Year Current Assets (in lacs) Trend Percentage

Trend analysis of current assets

150 Trend analysis of current

Figure no. 5.1

Table 5.2.2 Trend Analysis of Current Liabilities

Year Current Liabilities (in lacs) Trend Percentage

Trend analysis of current liabilities

150 Trend analysis of current INTERPRETATION