INTERNSHIP PROJECT REPORT

ON

A Study of mutual Funds and awareness of mutual funds among

insurance advisors at NJ Wealth in Durgapur

Submitted to Department of Business Administration, Dr. B. C. Roy

Engineering College, Academy of Professional Courses (323), Durgapur in
partial fulfillment of the requirement for the award of
BACHELOR OF BUSINESS ADMINISTRATION from MAKAUT

Student Name: Sk Sabir Ali

University Roll No.: 32305020130
Internal Guide: Prof. Sayan Gupta
Academic Year: 2022-23

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 Department of Business Administration
Dr. B.C. Roy Engineering College,
Academy of Professional Courses, Durgapur

CERTIFICATE

This is to certify that the project report entitled “Study of mutual Funds and awareness of
mutual funds among insurance advisors at NJ Wealth” is a bonafide work done by Sk
Sabir Ali, a student of 3rd Semester of Bachelor of Business Administration, Dr. B. C. Roy
Engineering College, Durgapur (affiliated to MAKAUT) under my direct supervision and
guidance and that no part of this report has been submitted for the award of any other degree
or diploma in any other University or Institute.
Title of Project Report : Study of mutual Funds and awareness of mutual funds
among insurance advisors at NJ Wealth
Name of Student : Sk Sabir Ali
Roll No. : 32305020130

_________________ ____________________ _______________________

Signature of Student Signature of HOD Signature of Guide

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Creating wealth, Transforming life…..

TABLE OF CONTENTS
Chapter Name Page No.

Introduction ……………………………………………………………......................3-5

Literature Review……………………………………………………………………....6

Proposed Research Methodology…………………………………………………...7-8

Findings…………………………………………………………………………………9

Conclusion………………………………………………………………………………10

Reference……………………………………..........................................................11

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 INTRODUCTION

NJ India Invest Pvt. Ltd. is a prime example of how success is a journey and not a
destination. Established in 1994 by two people, the company has grown to become
one of the leading advisors and distributors of financial products and services in
India. This is an inspiring reminder that success is not only a result but also a
continuous process.

For more than ten years, NJ has been a leader in financial investment, portfolio
advisory services, and professional management. Starting modestly, NJ has
developed into a quality-driven, customer-oriented financial and investment advisory
and distribution firm.
NJ prides in being a professionally managed, quality focused and
customer centric organisation. 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 NJ.

NJ Wealth Advisors, part of NJ, specializes in offering financial planning and portfolio
advisory services to those with a high net-worth. Our processes are aimed at
delivering the best possible advice and management for your finances and portfolio.

With our expertise and understanding, we are able to provide you with the best
possible value. Continuing to be an industry leader, we consistently meet the
demands of our clients with our effective and comprehensive solution

PHILOSOPHY:-

At NJ, our philosophy is the driving force behind our service and investing—informing
the thoughts, beliefs, attitudes, actions and decisions of our employees. Just like a
body, our philosophy is the spirit that moves us.

Our primary measure of success is customer satisfaction …

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At NJ, we are dedicated to offering our customers continuous, long-term
improvements and value-additions to fulfill their needs in an outstanding manner. As
we strive to always deliver the premier service to our customers, all NJ personnel will
do their utmost to:

● Be devoted to our customers by putting their needs first, taking responsibility,

and delivering on our commitments promptly.
● Make a concerted effort to anticipate, envision, comprehend, and surpass
expectations.
● Show enthusiasm and proficiency in all endeavors and be honest, moral, and
prioritize the customer's welfare.
● Enhance customer relationships by providing attentive and proactive service,
always striving to meet and exceed expectations.

SERVICES PROVIDED TO CLIENT:-

As a Global Private Client of NJ Wealth Advisor, you will receive a comprehensive

range of services to ensure that you remain informed, insightful and in control of
your investments at all times

Comprehensive Financial Planning:-

Life is full of responsibilities, dreams and aspirations. As we journey through life, our
goals and objectives may change, and we may not always be certain of the future.

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What if something doesn't go according to plan? How can we ensure that we reach
our desired destination? Life is an unpredictable journey, but with the right steps, we
can make sure to achieve our goals and aspirations.

These solutions include

1. a careful analysis of your goals
2. the creation of a thorough Financial Plan, and
3. consistent monitoring of the Plan.

With Life Vista, our team of advisors provides you with comprehensive Financial
Planning to help you achieve your financial objectives.

In this report the objective of the study was

to:-
1) Understanding Mutual Funds
2) Understanding Market Potential of Mutual funds.
3) Understanding which mutual fund is good for whom
4) Analyzing Awareness of Mutual Funds among insurance advisors.

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 LITERATURE REVIEW
It has been stated that the research has previously focused on marketing's
relationship with other departments such as R&D and finance and did not distinguish
between sales and marketing functions (Kahn and Mentzer, 1998). Several scholars
have observed that the interface between sales and marketing is an area that has not
been explored thoroughly (Dawes and Massey, 2005; Homburg et al., 2008).
The two departments may have separate objectives that can lead to conflict,
coordination difficulties and tensions (Dewsnap and Jobber, 2000). These issues, if
left unresolved, can adversely affect the interface between sales and marketing and
undermine collaborative efforts.
According to Corstjens and Corstjens (1999), sales and marketing should collaborate
more closely in order to maximize the success of the organisation. Sales are typically
responsible for tactical tasks, such as customer contact, implementation of
marketing strategies, and closing sales. Marketing, on the other hand, builds a
consistent brand image and supports salespeople in the marketplace (Matthyssens
and Johnston, 2006). Improvements in collaboration between departments can help
reduce conflict and ensure that strategies are formulated properly (Menon et al.,
1996).
For the organisation to be successful, market responsiveness and adaptability are
essential and require seamless integration of the organisation's various departments.
Overcoming functional boundaries and the development of cross-functional teams
are important for customer-focused organisations.
This paper explores how firms can gain a competitive advantage by improving
customer relationships through better cross-functional teamwork (Rayport and
Jaworski, 2004). Additionally, it suggests that the creation of superior customer value
through an effective sales and marketing relationship provides a competitive
advantage (Guenzi and Troilo, 2007).
The paper highlights the importance of sales and marketing interaction for the
overall performance and growth of businesses, as their productive relations are
linked to improved productivity, competitiveness, superior value creation and market
performance (Tjosvold, 1988). Therefore, this paper aims to provide insights for
enhancing sales and marketing integration.

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 PROPOSED RESEARCH METHODLOGY
METHOD OF STUDY-
Data collection:-
1. Primary data
2. Secondary data:- Book , Internet, Magazines

NOTE:- The data for the study was collected through the survey method with
a corresponding questionnaire, focused on the objectives. Primary data was
used to meet the objectives while Secondary data was used to compose the
literature and acquire information.
Primary data
Obtaining primary data can be achieved by direct contact with participants or
through personal interaction. Survey and descriptive research are two
common methods of collecting primary data. I employed questionnaires to
acquire primary data to evaluate the market potential and recognition of
mutual funds and mutual fund advisors. This has been extremely helpful in my
analysis.
Secondary data:
Secondary data refers to data which has already been collected and analysed
by someone else. Sources of this type of data include-
● Books
● Magazines
● Internet
● Newspapers
● Reports
● Projects etc.

Data sources
This study is based solely on primary data gathered through a questionnaire
containing both open-ended and closed-ended questions. Interviews with

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insurance advisors of different insurance companies were conducted, both
formally and informally, to collect answers.
Sample size:
The sample size of my project was limited to 270 people only.

Limitation of the study:

The survey conducted at the Durgapur branch cannot represent the whole
market due to its constraints.

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 Data Analysis and Representation
Financial Sectors

Insurance C.A Tax officer Stock Broker Real Estate

438 3 8 28 2

Financial Sectors
450

400

350

300

250

200

150

100

50

0
Insurance C.A Tax Officer Stock Broker Real Estate

Inference
In this above chart shows that the 70% of the advisor attached with insurance
sector, 10% attached with c.a., 0% attached with tax officer, 20% attached with
stock broker, 0% attached with real estate.

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 Client base
Below 100 101-300 301-500 501-700 Above 700
2% 11% 15% 25% 47%

Client base
Below 100
101-300

301-500

Above 700

501-700

Inference
In this above chart, it shows that 2% clients are attached below 100 clients.
11% are attached to almost 101-300 clients. 15% are attached to 301-500
clients. 25% to almost 501-700 clients and about 47% with above 700 clients.

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 Monthly Income of the Client Base
Below 31000- 41000- 51000- 61000- More than
30000 40000 50000 60000 70000 71000
21 16 15 19 13 16

Monthly income
above 70000
Below 30000

61000-70000

31000-40000

51000-60000
41000-50000

Inference
The above chart shows that about 21% of the advisor’s monthly income is less
than 30000, 16% of the income is between 31000-40000, 15% of the income is
between 41000-50000, 19% of the monthly income is between 51000-60000,
13% of the client’s monthly income is between 61000-70000 and about 16% of
the client’s monthly income is over 71000

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 Client Recommendation
Said “Yes” on joining the company Said “No” on joining the company
60% 40%

Sales

NO

YES

Inference
The above chart clearly portrays that 60% of the advisors called would like to
join NJ India Wealth Limited as a channel partner, while 40% of the advisors
denied on joining the company.

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 Spend Time with the Financial Sector
1-3 years 3-5 Years 5-7 years 7-9 years Over 9 Years
8% 14% 9% 23% 48%

Time
1-3 years

3-5 years

Above 9 years
5-7 years

7-9 years

Inference
The above chart shows that about 8% of the advisors have been connected
with NJ for about 1-3 years, 14% are attached with the financial sector for 3-5
years, and 9% are attached to the company for 5-7 years. 23% are attached to
NJ for about 7-9 years and 48% have been attached with the financial sector
for over 9 years.

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 Weekly Sales Report
Particulars 1st Week 2nd Week 3rd Week Total
Total number 06 20 33 59
of Leads
Collected
Total number 100 250 300 650
of phone calls
made
Total number 2 3 6 11
of persons
who have
attended the
seminar
One to one 3 3 2 8
meet
Registration U.P U.P U.P U.P
done

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 FINDINGS
1. Results showed that most of the respondents had over five years of
experience as financial advisors.
2. The majority of them were selling insurance to their family and friends.
3. Male financial advisors were more inclined to the Mutual Fund Business
than female advisors.
4. Most financial advisors have 0 to 1,000 clients.
5. 34% of financial advisors believe that mutual funds are a risky product.
6. Only 38% of financial advisors are aware of the returns on mutual funds.
7. Only 22% of financial advisors are aware of the commission for mutual
funds.
8. Many financial advisors work in the insurance sector.
9. Financial Advisors who lacked knowledge of Mutual Funds did not
suggest their clients invest in them.
10.Mutual funds have lower brokerage fees than insurance.
11.Advisors don't want to be AMFI certified because they have to study and
the fee is higher than for LIC.

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 CONCLUSIONS
The mutual fund sector in India is still in its adolescence, with ample potential for growth.
Increasingly, private and foreign players are entering the industry, and with falling interest
rates and an unwillingness of people to save in banks, mutual funds offer an attractive
alternative. However, a lack of awareness about mutual funds and their benefits has
hindered the growth of the industry. The three reasons for the restricted growth of mutual
funds in India are: unawareness, reluctance to invest, and lack of knowledge.

The mutual funds industry has been largely restricted to metros and larger cities, leaving out
the sizeable investment potential present in smaller cities. Additionally, mutual funds
appear to be too complex for the average middle class person to comprehend.
Further, investors are unaware that they can diversify their portfolio with debt schemes,
not just equities.We see that all AMC`s firmly admit the fact that India is the most emerging
market in Asia. If is as, it means that people have purchased power & disposable income. If
the mutual fund can influence these buyers to invest in their funds then it would be benefits
to both of them.
Nonetheless, it is undeniable that in spite of the hardships, mutual funds have continued to
strive for better customer satisfaction and setting new benchmarks for transparency and
disclosure. To further bolster these efforts, mutual fund benchmark indices have been
created to evaluate the performance of funds in the Indian mutual funds market.
To boost the training of mutual funds distribution, the Association of Mutual Funds in India
(AMFI) has launched the AMFI Certification program. SEBI has made it compulsory for all
mutual funds distributors & agents to pass the AMFI Certification. This will enhance the
knowledge of distributors & agents, thereby aiding investors to make informed decisions.

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 BIBLIOGRAPHY
Refrences:
1) Financial management-Khan and Jain

2) Production Management-Ashwathappa

3) Human Resource Management-C.B. Gupta

4) AMFI Course Book

5) Kotler, Philip, and Kevin Lane Keller. "Marketing management 12e." Upper
Saddle River, NJ: Pears Education (2006).
6) Kotler, P., & Keller, K. L. (2006). Marketing management 12e. Upper Saddle
River, NJ: Pears Education.
7) Khan, M. Y., et al. Financial management. Tata McGraw-Hill, 1984.
8) Khan, M. Y., Jain, P. K., Khan, M. Y., & Jain, P. K. (1984). Financial
management. Tata McGraw-Hill.
9) Khan, M. Y., P. K. Jain, M. Y. Khan, and P. K. Jain. Financial management. Tata
McGraw-Hill, 1984.
10) Khan, M.Y., Jain, P.K., Khan, M.Y. and Jain, P.K., 1984. Financial
management. Tata McGraw-Hill.
11) Khan MY, Jain PK, Khan MY, Jain PK. Financial management. Tata McGraw-
Hill; 1984 Dec.
12) Bhat, Shridhara, and K. Aswathappa. Production and operations
management. Himalaya Publishing House, 2010.
13) Bhat, S., & Aswathappa, K. (2010). Production and operations
management. Himalaya Publishing House.

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14) Gupta, C. B. "Human resource management, sultan chand & sons." New
delhi 38 (2006): 28660.
15) Gupta, C. B. (2006). Human resource management, sultan chand & sons.
New delhi, 38, 28660.
16) Gupta, C. B. "Human resource management, sultan chand & sons." New
delhi 38 (2006): 28660.
17) Gupta, C.B., 2006. Human resource management, sultan chand & sons.
New delhi, 38, p.28660.
18) Gupta CB. Human resource management, sultan chand & sons. New delhi.
2006;38:28660.

Websites:
● www.njindiainvest.com
● www.moneycontrol.com
● www.amfiindia.com

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