CONTENTS

Certificate i
Approval Sheet ii
Declaration iii
Acknowledgements iv
Abstract vi
List of Figures xv
List of Tables xvi
List of Charts xviii
List of Abbreviations xix
Chapters Title Page No.

1. INTRODUCTION 1-10
1.1 Concept 1
1.2 Problem Statement 2
1.3 Need for the Study 3
1.4 Scope of the Study 3
1.5 Research Objectives 4
1.6 Hypothesis of the Study 4
1.7 Study Period 6
1.8 Limitations of the study 6
1.9 Research Methodology 6
1.9.1 Type of Research 7
1.9.2 Source of Data 7
1.9.3 Sample Size 7
1.9.4 Research Design 7
1.9.5 Analytical Tools and Techniques 8
1.10 Chapter Theme 9

2. LITERATURE REVIEW 11-92

3. CONCEPTUAL FRAMEWORK OF MUTUAL FUND 93-157

3.1 Concept of Mutual Fund 93

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3.2 Economic Motives of Mutual Fund Investment 94
3.2.1. Beat Inflation 94
3.3.2. Professional Management 95
3.2.3 Convenience 95
3.2.4. Low Cost 95
3.2.5. Diversification 96
3.2.6. Liquidity 96
3.2.7. Higher Return Potential 96
3.2.8. Safety & Transparency 96
3.2.9. Tax Benefit 97
3.2.10. Wide choice 97
3.3. Limitation of mutual funds 97
3.4 History of Global Mutual Fund Industry 99
3.5 Mutual Fund Industry in UK 101
3. 6. Mutual Fund Industry in US 102
3.7 Mutual Fund Industry in India 103
3.8. Comparison of mutual funds with other investment avenues 104
3.8.1. Bank fixed deposits versus Mutual funds 104
3.8.2. Life insurance versus Mutual funds 105
3.8.3 Equities versus Mutual funds 106
3.8.4 Bonds and debentures versus Mutual funds 106
3.8.5 Public Provident Fund (PPF) versus Mutual funds 107
3.9 Organizational Structure of Mutual Fund 108
3.9.1. Unit holder 109
3.9.2. Sponsor 109
3.9.3. Trustees 110
3.9.4. The Mutual Fund House 111
3.9.5. Custodian 113
3.9.6. Transfer Agent 113
3.9.7. Distributors 114
3.9.8. Collecting bankers 115
3.9.9. Fund accountants 115

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 3.9.10. Auditors 116
3.9.11. KYC registration agencies (KYCRA) 117
3.10. Types of Mutual Funds 117
3.10.1. On the basis of operation or maturity period 117
3.10.2. On the basis of management 119
3.10.3. On the basis of return 119
3.10.4. On the basis of Investment 120
3.10.4.1. Types of debt funds 121
3.10.4.2. Types of equity funds 124
3.10.4.3. Types of hybrid funds 125
3.10.5. On the basis of new products 126
3.10.6. Gold funds 126
3.10.7. On the basis of geographical location 127
3.10.8. Other funds 127
3.11. Decision Making Parameters 128
3.11.1. Risk Factors 129
3.11.2. Return Factors 131
3.11.3. Liquidity Factors 132
3.11.4. Consistency Factors 133
3.11.5. Awareness Factors 133
3.11.6. Specialization Factors 134
3.12 SEBI Regulatory of Mutual Fund 135
3.12.1. Role of SEBI 135
3.12.2. Role of AMFI 137
3.13. Rights and Obligations of Investors 140
3.13.1. Rights of investors 140
3.13.2 Statements of accounts which are to be sent to investors are as
follows 140
3.13.3 Obligation of investors 142
3.13.4 Limitation of investors 142
3.13.5 Basic requirements of an investors for an open ended schemes 142
3.13.6 BASIC requirements of an investors for close ended schemes 143

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 3.13.7 Load Structure 143
3.14. Service to Investors 144
3.14.1. Service To Investors 144
3.14.2. Requirements of KYC for mutual fund investors 146
3.14.3. Requirements of PAN and Micro SIPs 146
3.14.4. Requirements of Additional Documents Which Are Applicable
For Institutional Investors. 147
3.14.5. Demat Account 148
3.14.6 Transactions with mutual funds 149
3.14.7 Transaction through the stock exchange 150
3.14.8 Investment Plans and Services 151
3.15 Selection of scheme 153
References 155
4. COMPARATIVE ANALYSIS OF SELECTED MUTUAL FUNDS 158-173
4.1 Introduction 158
4.2 The company overview of the selected AMCs 158
4.3. Measuring Ratios 164
4.4. Comparison of Funds 167
4.5. Findings and Conclusion 170

5. DATA ANALYSIS 174-223

5.1 Introduction 174
5.2. Demographic Features of Respondents 176
5.2.1. Age of the respondents 176
5.2.2. Gender of respondents 178
5.2.3. Academic education of respondents 179
5.2.4. Occupation of respondents 180
5.2.5. Annual Income of Respondents 182
5.2.6 Annual savings of respondents 183
5.2.7. Marital status of respondents 184
5.2.8. Family size of respondents 185
5.2.9. Geographical location of respondents 187

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 5.3 Data Analysis of Effect of Demographic factors on Investment
Decision 188
5.3.1. Investment Pattern 188
5.3.1.1 Amount of Investment 189
5.3.1.2 Duration of Investment 194
5.3.1.3 Purpose of Investment 199
5.3.1.4. Return Expectation of Investment 204
5.3.2 Preference Pattern in Mutual Fund 209
5.3.2.1 Preference towards Investment Avenues 210
5.3.2.2 Preference towards Investment Schemes 212
5.3.2.3 Preference towards Investment Reasons 215
5.3.3. Investment Satisfaction 217
5.3.3.1 Age wise and Investment purpose wise Satisfaction level 218
5.3.3.2 Gender wise and Investment Purpose wise satisfaction
level 219
5.3.3.3 Income wise and Investment Purpose wise Satisfaction
Level 220
5.3.3.4 Age wise and return expectation wise satisfaction level 221
5.3.3.5 Gender wise and return expectation wise Satisfaction
level 222
5.3.3.6 Income wise and return expectation wise satisfaction
level 223
6. FINDINGS AND CONCLUSIONS 224-233
6.1 Introduction 224
6.2 Findings 224
6.3 Conclusion 231
6.4 Suggestions 232
6.5 Implications 233
6.6 Scope of Further Research 233
BIBLIOGRAPHY 234-257
Annexure 258-270
List of Publications 271

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