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"A STUDY OF BUYING INTENSION OF CONSUMER WITH RESPECT TO ONLINE

MUTUAL FUND INVESTMENT IN GUJARAT REGION
Research · March 2022
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Vikram Baldaniya
Viral Bhatt
SAL Institute of Technology & Engineering Research
SAL Institute of Management
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Multidisciplinary Action Project
On
“A STUDY OF BUYING INTENSION OF CONSUMER

WITH RESPECT TO ONLINE
MUTUAL FUND INVESTMENT
Submitted to
Institute code: 807
Sal Institute of Management
Under the guidance of

DR. VIRAL BHATT
(Principal)
In Partial Fulfilments of Requirement of Award of Degree of

Master of Business Administration (MBA)
Offered By
AHMEDABAD
PREPARED BY:
VIKRAM BALDANIYA
NAIMISH SOJITRA
JAY AVGHADE
MAYANK DHADUK
RAVI JAYSWAL
MBA (Semester- 3)
Month & Year:
FEBRUARY 2022
1|Page
CERTIFICATE OF EXAMINER
This is to certify that project work embodied in this report
entitled “A STUDY OF BUYING INTENTION OF CONSUMER
WITH RESPECT TO ONLINE MUTUAL FUND
INVESTMENT” was
carried out by MAYANK DHADUK (208070592028) of SAL
Institute of Management (807).
The report is approved / not approved.
Comments of External Examiner:
This report is for the partial fulfilment of the requirement of the

award of the degree of Master of Business Administration
offered by Gujarat Technological University.
(Examiner’s Sign)
Name of Examiner:
Institute Name:
Institute code:
Date: 20/02/2022
Place: Ahmedabad
2|Page
INVESTMENT” was
carried out by NAIMISH SOJITRA (208070592031) of SAL

(Examiner’s Sign)
Name of Examiner:
Institute Name:
Institute code:
Date: 20/02/2022
Place: Ahmedabad
3|Page
INVESTMENT” was
carried out by VIKRAM BALDANIYA (208070592042) of SAL

(Examiner’s Sign)
Name of Examiner:
Institute Name:
Institute code:
Date: 20/02/2022
Place: Ahmedabad
4|Page
INVESTMENT” was
carried out by JAY AVGHADE (208070592064) of SAL Institute
of Management (807).

(Examiner’s Sign)
Name of Examiner:
Institute Name:
Institute code:
Date: 20/02/2022
Place: Ahmedabad
5|Page
INVESTMENT” was
carried out by RAVI JAYSWAL (208070592075) of SAL Institute
of Management (807).

(Examiner’s Sign)
Name of Examiner:
Institute Name:
Institute code:
Date: 20/02/2022
Place: Ahmedabad
6|Page
We hereby declare that the Multidisciplinary Action Project titled “A
STUDY OF BUYING INTENSION OF CONSUMER WITH RESPECT TO
ONLINE MUTUAL FUND INVESTMENT” is a result of our own work and
our indebtedness to other work publications, references, if any, have been
duly acknowledged. If we are found guilty of copying from any other
report or published information and showing as our original work, or
extending plagiarism limit, we understand that we shall be liable and
punishable by the university, which may include being declared fail in the
MAP examination or any other punishment which the university may
decide.
Enrollment no Names Signature
208070592028 MAYANK DHADUK
208070592031 NAIMISH SOJITRA
208070592042 VIKRAM BALDANIYA
208070592064 JAY AVGHADE
208070592075 RAVI JAYSWAL
Place: AHMEDABAD Date:20/02/2022
7|Page
(ADARSH FOUNDATION)
Date: 20/02/2022
SAL INSTITUTE OF MANAGEMENT

Opp. Science city, SOLA Road, Ahmedabad-380060.
“This is to certify that this multidisciplinary

Action Project Titled “A STUDY OF BUYING INTENTION OF
CONSUMER WITH RESPECT TO ONLINE MUTUAL FUND
INVESTMENT” is
the BONAFIDE work of following students, who have carried out their
project under my supervision. I also certify further, that other best of my
knowledge the work reported here in does not form part of any other
project or dissertation on the basis of which a degree or award was
conferred on an earlier occasion on this or any other candidate. I have
also checked the plagiarism extent of this report which is ……% and
it is below the prescribed limit of 30%. The separate plagiarism
report in the form of HTML/PDF is enclosed with this.
NO ENROLLMENT NO NAMES
1 208070592028 MAYANK DHADUK
2 208070592031 NAIMISH SOJITRA
3 208070592042 VIKRAM BALDANIYA
4 208070592064 JAY AVGHADE
5 208070592075 RAVI JAYSWAL
Rating of project Report [A/B/C/D/E]: …………….

(A= Excellent; B= Good; C= Average; D= Poor; E= Worst;)
(By Faculty Guide)
Signature of the Faculty Guide/s

(Name and Destination of Guide/s)
Signature of principal/Director with stamp of institute

(Name of principal/director)
8|Page
9|Page
We are extremely thankful to DR. VIRAL BHATT
principal, Sal Institute of Management for providing us the great
opportunity to learn through MAP and he is always there to
solve our difficulties and for providing us the great support.
We are extremely thankful to our project guide DR.

VIRAL BHATT for providing us in depth knowledge and helping
us towards successful completion of project. He has always
welcomed our queries and solved it nicely. Without his help and
guidance, it is difficult for us to complete the project.
Last but not the least we would like to thank our all
friends who have given us the guidance for the further
development and enrichment of our project.
With Thanks,
VIKRAM BALDANIYA
JAY AVGHADE
NAIMISH SOJITRA
MAYANK DHADUK
RAVI JAYSWAL
Date:20/02/2022
10 | P a g e
While the Indian mutual fund industry has registered a six-fold increase in
AUM over the last 10 years, it is yet to emerge as the preferred investment
choice for retail investors in India.
More than 50 years have gone by since UTI started its first sale in July 1964, and we
believe that in the next few years, the industry will perform closer to the original
mandate of encouraging and mobilizing savings of small investors.
The confluence of emerging technology and enabling regulation will facilitate the
industry to broaden and deepen its reach among retail investors.
 Evaluation of e-commerce platforms to sell mutual funds is currently underway, and a

positive outcome will help unlock the buying power of the 400 million Internet users
and 1 billion mobile phone users in India;
 Financial inclusion has received a fillip with the JAM number trinity (JANDHAN,
AADHAR&MOBILE), and opening of 192 million JAN DHAN accounts in 15 months
with a deposit base of Rs 27,000 crore. This builds the case for evaluating adoption of
a similar model and cross-selling opportunities;
 More clarity on E-KYC and its subsequent adoption will aid the penetration among
the hitherto UN served segment;
 The recently approved payment banks, with permission to sell third-party mutual fund
products are expected to improve the reach.
In the context of improving the financial literacy and awareness among retail
investors, AMC have conducted around 60,000 investor awareness programme in the
past 60-odd months across 500 cities in India, and have reached out to 1.8 million
participants. This is an ongoing initiative and is expected to improve the low
penetration of mutual funds in the Indian market. With individual investors relying
heavily on distributors for purchase of mutual funds, AMC will continue their focus
on distribution network along with an emphasis on increasing sale of direct plans.
We believe that these enablers will help the industry to increase its customer base in a
cost-effective manner from 42 million retail accounts and increase Their ticket size.
while these measures will enable customer acquisition, AMC need to focus on
retaining customers through sale of simpler products, demonstrating better fund
performance, better service quality and deployment of ANALYLITICS. The industry
has witnessed consolidation, and the trend is expected to continue with increasing
focus on improving performance.
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CHEPTER PARTICULAR PAGE
NO NO
INTRODUCTION PHASE
1.1 INTRODUCTION OF INVESTMENT 14
1.2 ORGANISATION STRUCTURE OF MUTUAL FUND IN 16
INDIA
1.3 TYPES OF MUTUAL FUND 18
1.4 ROLE OF MUTUAL FUND IN INDIAN CAPITAL 21
MARKET DEVELOPMENT
1.5 WAY TO INVEST IN MUTUAL FUND ONLINE 22
1.6 WHY INVEST IN A MUTUAL FUND DIRECT PLAN 26
WITHOUT A BROKER
1.7 WHAT IS THE BENEFIT OF INVESTING IN MUTUAL 27
FUNDS DIRECTLY
DIAGNOSES PHASE
2.1 DEFINE AND ANALYSE THE PROBLEM 30
2.2 DEFINE THE OBJECTIVE 32
2.2.1 FORMULATION OF HYPOTHESES 32
2.3 ROAD MAP OF THE PROJECT 36
DESIGN AND ANALYSIS PHASE

3.1 STATISTICAL TOOLS AND THCHNIQUES 39
3.2 CONCEPTUAL FRAMWORK 40
3.3 DATA ANALYSIS 41
3.3.1 DESCRIPTIVE STATISTICS 41
3.3.2 RELIABILITY VALIDITY 47
3.3.3 REGRESSION MODEL 49
3.3.4 ONE – WAY ANOVA 51
3.3.5 POST HOC TESTS 53
IMPLIMENTATION PHASE
4.1 ACTIO PLAN 56
4.2 FINDINGS 57
4.2.1 THEORETICAL CONTRIBUTION 57
4.2.2 PRACTICAL MANAGERIAL IMPLICATION 59
4.3 IMPLEMENTATION OF SOLUTION 61
4.4 CONCLUSION 63
5 REFERENCE 64
6 ANNEXURE & APPENDIX 66
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INTRODUCTION
PHASE
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1.1 Introduction of investment:
Nowadays people contribute and focus on saving and investing. Consumption
rate will increase with purchasing power parity (inflation rate). Therefore,
people are being exploited in the future which is a burden to earn money or
difficult in inflation if you are going to stay before inflation you need to have
more money to buy the extended assets you intend to get in the future. the
money you have today. while still living on daily necessities on the basis of
income or income. The use of future needs that we need to save and invest in
terms of value for money whenever the investment does not receive a return and
the amount of time we spend shows that it is not useful and does not work for
future needs.
Savings and investments are both tools for different purposes savings do not get
value for time this current savings will be a lower amount of money in the
future. A successful investment earns a return on average or on the basis of risk.
There are various ways to invest in India such as equity share, debenture, bonds,
mutual fund, fixed deposit and risk-free rate. In the case of currant, mutual fund
investment is the best option for investors, who do not spend money or do not
invest in direct equity or debt because it is not a valid reason or knowledge of a
direct investment. Mutual fund investment option equates to indirect
investments and loans
A mutual fund is a financial coordinator in the financial market that combines

group investments in the form of units from store and corporate investors and
maintains a portfolio of various programs that invest that collective investment
in equity and debt instruments on behalf of these investors. Mutual fund is a
professional business that helps the investor to invest in equity and indirect
investments rather than risking directly investing in these tools. The average
investor does not have the expertise or experience to invest directly in the equity
market in India and often investors lose their money due to improper selection
of shares, or bonds. Therefore, mutual funds as a mediator provide effective
portfolio management technology and differentiate risk by distributing
investment from all investors in various stocks and debt instruments. This helps
investors to get better returns on low risk compared to high risk returns when
investors invest directly in large markets.
(Source:https://www.amfiindia.com/research-information/mf-history)
A mutual fund is a collective fund or fund managed by a qualified and

professional Fund Manager. A trust that takes money from a few investors with
the same investment objective and invests those funds in stocks, bonds,
financial market tools and other securities. Revenue from this integrated
portfolio is distributed equally to investors after deducting applicable expenses
and taxes, by calculating the ‘Valuation of Clothing’ or NAV scheme. Simply
put, the money raised by a large number of investors is shared by units through
a mutual fund program. These combined investments in securities or bonds or
short-term securities will increase or decrease depending on the performance of
these investments. This will be reflected in the NAV value.
Joint ventures are ideal for investors who do not have large investments, or
those who do not have the knowledge or time to market research, but who want
to grow
14 | P a g e
their wealth. In return, the fund house charges a small fee for its expertise
removed from the investment. Payments made to mutual funds are limited to
certain limits specified by the Securities and Exchange Board of India (SEBI).
Over the past few years’ mutual funds have gained an approved position where
investors regularly invest in equity / equity schemes.
(Source: https://en.wikipedia.org/wiki/Mutual_funds_in_India)
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1.2 ORGANISATION STRUCTURE OF MUTUAL
FUND IN INDIA:
Three key players namely sponsor, AMC and mutual fund trust are
involved in establishing a mutual fund business in India. They are
supported by banks, registrars, transfer agents, investment partners and
caregivers to perform mutual funds smoothly.
(1) Sponsor: The promoter of the Mutual Fund Company is known as a

mutual fund sponsor. The sponsor himself or in partnership with another
company establishes a mutual fund that aims to earn money from the
management of the fund through its subsidiary. A company that manages
funds as an Investment Manager of the Fund is called AMC.
(2) Trustee: Trustees create trust through an act of trust in favour of trustees.
The Trustees hold the trust and are primarily responsible as custodians for
investors in Mutual Funds. The primary responsibility of the Trustees is
to ensure that due process is followed. All Funds identified by the AMC
must be AUTHORIZED by trustees.
(3) AMC: The sponsor has started an Asset Management Company and
AMC manages Trust funds. It costs less to manage trust funds. AMC
organizes all programs, introduces the program and obtains initial
funding, manages funds and provides assistance to investors. The
Trustees are appointed by the AMC to manage joint fund schemes
preferred by the AMC.
16 | P a g e
(4) Custodian: With shared funds, AMC buys various securities such as
stocks, bonds, gold etc. in various programs. These Securities are
purchased on behalf of the Trust but are not kept under the Trust. The
obligation to keep securities safely rests with the trustee.
(5) Registrar & Transfer Agent: Registrar and Transfer agent is a separate
business. The Registrar & Transfer agent is responsible for performing many
administrative tasks such as processing investor applications, producing units
when a new application is received, removing units when investors submit
REDEMPTION, managing a full investor record and processing dividends on
behalf of its mutual fund clients.
(Source:https://www.hdfcfund.com/learn/beginner/mutual-funds/different-
types-mutual-funds)
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1.3 TYPES OF MUTUAL FUND:
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BY STRUCTURE:
(1) Open-ended schemes: In the case of open schemes, investors can sell and
purchase their units at net price (NAV) or NAV-based prices at any time.
Investors can enter and exit the system at any time during an open fund. An
important nature of open finance is liquidity. As there is no key at these times
these investments increase investor revenue as units can be bought and sold at
any time.
(2) Close-ended schemes: Closed schemes have a fixed corpus and a specified
maturation period ranging from between 2 to 10 years. Investors can invest in
the system if it is open for a few days to register as a new contribution (NFO).
The system remains open for a maximum period not exceeding 45 days. The
fund has no dealings with investors until it is acquired without paying a
dividend or bonus. In rare cases some expired joint ventures may announce
restitution plans such as Morgan Stanley who announced a refund scheme for
their expired joint venture. There is a time limit for purchasing these programs
in the form of a purchase lock. These programs are listed in the stock market for
trading.
(3) Interval Schemes: Temporary schemes offer features of both open and
closed schemes. They are open for sale or use during pre-determined intervals at
NAV-related prices. Also called partial open-ended schemes.
(Source:http://www.drbrambedkarcollege.ac.in/sites/default/files/mutual%20fun
d%20notes.pdf)
BY ASSET TYPE:
(1) Growth Funds (Equity oriented funds): The main objective of growth
funds is capital appreciation over the medium-to-long- term. They invest most
of the corpus in equity shares with significant growth potential and they offer
higher return to investors in the long-term at average risk. The risks associated
with equity investments and no surety or assurance of returns are the features of
these equity schemes. Growth funds can be further categorized into various
schemes like large cap fund, mid cap fund and small cap fund, multi/diversified
equity fund, equity linked saving scheme (ELSS), SECTORL funds and index
funds.
(2) Income Funds (Debt oriented funds): The purpose of the revenue is to
provide investment security and common income for investors. These programs
invest heavily in revenue-generating tools such as bonds, debts, government
securities, and trading papers. Both the pros and cons are lower in revenue
compared to growth funds. Debt settlement, liquidity, monthly income plans,
fixed-income plans and floating rate funds are all different types of income fund
plans under the revenue declaration. These funds are also called fixed income or
funds. These funds have a certain risk in case the business bond fails.
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(3) Hybrid funds: A mutual fund that invests a composite corporation into
more than one type of assets is called hybrid mutual funds. Combined funds are
further subdivided into different sub-categories based on the selected asset type
and the investment component in a separate asset class.
(4) Money Market funds: They specialize in investing in short-term financial

instruments such as treasury loans, and deposit certificates. The purpose of
those funds is to have a large amount of money with a minimum return on at
least one possible risk.
(5) SECTORAL funds: These funds invest in certain key sectors such as
energy, telecommunications, IT, Banking, construction, transportation,
metallurgy, FMCG and financial services etc.
(6) Tax Saving funds: Tax savings offer special tax benefits to investors. Joint
funds have established various tax-saving programs. These are closed funds and
investments have a closing period of at least 3 years. These programs have
various options such as dividend, growth or financial recognition.
(7) Index funds: An index wallet is an integrated fund that invests in a portfolio
according to the same amount of collateral in the index on which it is based e.g.
S&P BSE SENSEX or NIFTY. It only invests in those shares that are part of the
market index and at the same rate exactly with WEIGHTAGE in the index so
that the value of those index schemes differs exactly from the market index. The
reference fund adopts a non-profit investment strategy as the fund manager does
not need to analyse stocks to invest or be used in these programs.
(8) Diversified funds: A separate fund is an investment fund that is widely

invested in most markets, commodities, and / or regions of the country.
Contains a wide range of securities, usually in most categories of assets. Its
wide range of markets helps to prevent idiosyncratic events in one area from
affecting the entire portfolio.
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1.4 ROLE OF MUTUAL FUNDS IN INDIAN CAPITAL
MARKET DEVELOPMENT:
(1) Mutual fund as a source of household sector savings mobilization: The

Mutual fund industry has come a long way in helping to transfer savings to the
real economy. The AUM total for mutual fund sector reached a CAGR of 12.4
per cent above FY 07-16. That shows how mutual funds have played a major
role in consolidating investment in the financial markets over the past 10 years
in India. At the end of March, 2017 AUM with Mutual funds was estimated at
Rs.
17.5 lakh SCHOOLS. In 2017 itself, investors have invested Rs. 3.4 lakh
CRORES in all categories of Mutual funds in India.
(2) Mutual Fund as financial service or Intermediary:

The financial services sector is the second largest after trade, hotels,
transportation and communications are all integrated, accounting for about 15
percent of India's GDP. With rapid growth, mutual funds have become
important credit providers and equity funds. In fact, companies that are able to
access lower interest rates and higher stock prices in the financial markets have
benefited from an increase in mutual fund assets. In recent years, mutual funds
as a group have become the largest buyer of shares and the largest buyer of
corporate bonds. Every MF collects funds from individual investors and
companies to invest in the financial assets of other companies. The number of
fund houses is growing year on year in the fast-growing Indian economy. Since
FY16, 42 asset management companies have been operating in the country.
(3) Mutual funds popularity among small investors:

SMALL MONEY RESOURCES have many problems such as limited finances,
lack of expert advice, lack of access to information etc. Shared funds even
become a great help to all trading investors. It is a special kind of institutional or
investment strategy where small and large investors combine their savings
invested under the advice of a team of experts into many different business
securities principles A good return on investment. the result of this expert
investment in mutual funds. It forms an integral part of the financial market,
providing the benefit of a diverse portfolio and expert portfolio expertise in
large numbers, especially investing investors. The average investor applying for
shares in the IPO of any company is not sure of any guaranteed share. But
mutual funds invest in a particular issue of money made by companies receiving
a guaranteed share, shares, therefore, an investment in a good IPO can be
achieved by investing in a mutual fund.
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(4) Mutual Funds as part of financial inclusion policy of Govt. of India:
SEBI is now promoting joint venture funds to spread to small towns and rural areas of
India to attract less savings and make rural people aware of a new way to invest as a
mutual fund that provides good return on low risk. Thus, Govt. India's investment
policy to integrate the conservation of UNBANKED people in India is fully supported
by the current joint ventures. In an effort to encourage investment in small towns,
SEBI has allowed the AMC to increase its spending rate to 0.3 percent in the form of
more than 30 percent revenue generation from small towns. The joint venture with
AMFI created an investor awareness program for this purpose of investment.
(Source: http://proceeding.conferenceworld.in/ICSTM-19/64NqgaYlTrSN801)
1.5 WAYS TO INVEST IN MUTUAL FUNDS ONLINE: -
Any investor can start investing in a mutual fund using a single lump sum payment
option or a formal investment plan (SIP) option. You can start a SIP for a minimum of
Rs. 500 in other ELSS funds but usually Rs 1000 and the normal donation period can
be monthly, quarterly, mid-year payments. SIP is a great option if you are a leader.
You can invest in direct or indirect mutual funds. Both options have their advantages
and disadvantages.
1. How to Buy Mutual Funds from AMC (Direct Plans)

Shared investments can be made directly online and offline by visiting the AMC
website. The process includes; Opening a new account Provide personal investment
details Complete the FATCA form Provide banking details Upload an image of a
cancelled check Verify KYC with AADHAR AND TRANSFER Offline investments
can be made by visiting the local AMC office and submitting an application, KYC
documents and making payments.
2. How to Buy Mutual Funds from Investment Platform

(Regular Plans)
You can invest safely in a mutual fund using an online investment platform. A forum
is a one-stop shop for helping to invest, track and manage all of your mutual fund
investments through various AMCs.
The steps required to invest using an online investment platform are;
1. Create an account with the investment platform
2. Pick up the scheme or plan
3. Choose the payment type (SIP or lump-sum) and the amount
4. Fill in the few personal details like PAN and bank details
5. Transfer money online to complete the investment
3. How to Invest in Mutual Funds through a DEMAT Account

You do not need to make an extra effort to invest in a mutual fund if you already have
a DEMAT account. Your existing DEMAT account and bank account can be used for
investing and working in a mutual fund. To invest in a mutual fund with a DEMAT
account, you need to sign in to your Demat account and consider investing in a mutual
fund. In the next step, you need to select the bag you want to invest in. Then you need
to complete the investment by transferring the value online.
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4. How to Invest in Mutual Funds through KARVY and CAMS
You can invest online and offline in mutual funds through registrars like KARVY and
CAMS.
 In Online Method: You need to visit the website of CAMS or KARVY, create an
account, provide folio number, select the scheme and make payment.
 In Offline Method: You can invest by visiting the local office and complete the
application form, hand over the CANCELLED cheque and the copy of KYC
documents.
5. How to Buy Mutual Funds through an Agent

This method is not recommended because it is a costly and time-consuming method to
invest in a mutual fund. Just for information, the investment can be made through an
agent by;
 Calling your agent who should be a mutual fund distributor
 Hand over the filled-in application form along with a copy of all the KYC documents
and CANCELLED cheque.
You can use apps or website to invest in the mutual fund online in India. The step-by-
step process is as under.
Step 1: Visit website and Select an Investment Goal

Visit a specific website and fill in details for programs. Programs are nothing but
health policies based on the information you provide.
You can choose any plans, which are closest to your financial goals.
1. Lifestyle Goals
A lifestyle plan for a young person who is anticipating a variety of life events that will
take place in his or her next year ’and wants to enjoy those events by making early
investments.
Why Planning is Necessary for a Lifestyle Goal
Because it is a huge expense that requires planning
EMI and credit cards can be a burden
You pay less when you invest
Saving can add to your happiness
2. Start Growing Wealth Goals

Here, you have to fill the investment amount and fill the number of years to get the
plan details.
3. Be Emergency Ready Goal

The plan is suited for everyone who wants to build an emergency fund.
Why is emergency planning necessary?
There can be big medical expenses if you or your family members suffer from
a major illness or a physical injury.
Accidents and natural disasters can happen which requires repair and
replacements costs for personal assets, such as a vehicle, or your home.
Temporary loss of income due to any health crisis.
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Your job security is linked to the health of the economy, so you need some
kind of planning to face the emergency situation.
4. Give your child Rs 1 Crore advantage! Goal

The plan is for individuals who want to create wealth for their child’s future so that
s/he gets a head-start in life.
5. Become a CROREPATI Goal

A program for people who want to save and build an important chorus. The plan helps
your savings to grow to a million over a certain number of years. It offers three
options depending on the monthly investment amount of Rs. 5 to 15K, Rs. 15 to 25K
and Rs. 25 to 50K.
6. Maintain your lifestyle in retirement Goal

The plan is suitable for your retirement plan and should start as soon as you start
earning so you can take advantage of the low SIP rates and benefit from integration
capacity. Start thinking about retiring early because;
• Your 9-5 job has an expiration date: Whether by law or personal choice, your
regular pay check will stop one day.
• The need to maintain a healthy lifestyle: Just because you are retired does not mean
you have to give up things you have become accustomed to.
• Why you trust someone else: Your children will not be your retirement plan.
Financial independence means not relying on anyone when you decide to retire.
• Plan to live longer: Thanks to medical advances, 50% of Indians will live longer
than 78 years. The longer you live, the greater the need to plan your income.
7. Online Tax Saver Goal

It helps you in tax planning through ELSS. The plan is suitable for all taxpayers who
are looking for an avenue to save taxes prudently.
8. Child Education
The program is for young couples who want to save and build their child's educational
corpus.
Why editing is necessary
• College education is expensive: Current costs range from Rs. 3-9 Lakh per year, or
Rs. 14 - 40 Lakh total (including hostel, books, and fees).
• There is a constant increase in costs: College costs increase every year by about 10%.
• Joint date cannot be changed: Unlike other financial purposes, there will be no
change in the timeline.
• Educational options are increasing: As a parent, you want to financially prepare your
child's dreams.
After collecting the targets, another process is about providing the necessary
information needed to make an investment.
24 | P a g e
Step 2: Choose the Right Mutual Fund Product Type
Next, you need to select a suitable fund type.
Based on the investment goals which you have selected, you will be shown the plan
details and the list of the funds in which you would be investing.
You will also find details on historical returns, plan details, and best use life goal case.
Step 3: Proceed for Investment

After getting the plan details you can click on invest. This will open the page as above
where you can choose between SIP and one-time lump-sum payment.
If you are a first-time user, then you need to create an account first.
Step 4: Investor Information and Money Transfer

At the last step, you need to provide information to add a bank account and PAN
details. he banks account will be used for investment and crediting the redemption
amount by the mutual fund houses directly to your specified bank account.
Conclusion
This is a starter guide for you to start investing in mutual funds. But remember, it is
important that you have a clear idea of your goals first so that you can choose the
right asset class and the right mutual fund.
Mutual funds are one of the easiest financial instruments to start investing. Investing
in Mutual funds can benefit the financial goal of an investor and prove advantageous.
However, before investing you must know everything about it to make a well-
informed decision;
 Diversified
 Professionally managed
 Optimized for returns
 Caters to most of your investment needs.
Plus, there are online mutual fund investment platforms which provide an easy,
hassle- free investment experience. So, whatever your life or investment goals are you
should consider fulfilling it through mutual funds.
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1.6 Why invest in a Mutual Fund Direct Plan without a broker?
The only logical justification an individual can give for choosing a Direct Mutual
fund investment plan is that there is a reduced Total Expense Ratio (TER)/Mutual
Fund brokerage commission.
If you choose a Mutual Fund Direct Plan, over a long period of time, the amount that
goes to the Mutual Fund broker appears to be a quite good sum of money.
The average Expense Ratio of a regular plan and direct plan across various fund
categories is tabulated below.
Fund category Regular plan Direct plan Difference

Equity 2.02% 1.22% 0.80%
Debt 0.90% 0.42% 0.48%
Hybrid 1.96% 0.98% 0.98%
Therefore, the value of the difference is the amount you will add to your return if you
invest in a specific joint fund plan without the agent / seller.
Checklist for buying mutual funds without a seller / agent?
There is nothing new to explore when investing in mutual funds other than the seller.
You should make sure that you do everything in the services checklist that the mutual
fund seller should provide for you alone.
We will discuss how to buy mutual funds without a seller / agent now.
If you decide to invest directly in mutual funds, you can opt for direct mutual fund
schemes instead of the usual schemes. There are 2 major ways you can invest in
mutual funds directly without a reseller.
You can go to the branch office of the mutual fund house and fill out the application
forms. If you plan to invest in 4 or 5 mutual fund companies, you need to visit the
branch office of each mutual fund company in person. You can visit the mutual fund
company website and check out the online investment process and follow it. You need
to do this separately throughout the mutual fund company. Some mutual funds
companies require the original forms to be sent directly to them in order to gain online
access.
Apart from opting for a specific plan compared to a standard plan, there is a
difference between a mutual fund agent / broker and a mutual fund adviser. Both may
seem similar, but the line separating the adviser and the agent / seller is defined to you
as a bonus.
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1.7 What is the benefit of investing in mutual funds directly?
In most cases it is better to invest directly in a mutual fund than to do so through a
broker. Every time you invest in an equity mutual fund you pay an entry load of
between 2% and 2.5% of the invested amount.
I want to invest Rs 1 lakh in mutual funds. My broker told me that it would be

better if I invested directly but didn’t explain why. Will there be a difference in
my returns if I invest directly?
Your broker is correct. In most cases it is better to invest directly in a mutual fund
than to do so through a broker. Every time you invest in an equity mutual fund you
pay an entry load of between 2% and 2.5% of the invested amount. Fund houses pass
on this fee as commission to distributors— agents, brokers or banks through whom
investors normally route their applications.
The rationale for charging entry load is simple: a distributor spends resources to
educate the investor and rope in investment, so he should be paid for his services. Till
last year, even if you didn’t route your application through a broker and invested
directly, you were charged the entry load.
How entry load matters (on an investment of Rs 1 lakh)

Through Broker Direct Extra Returns
Entry load (%) 2.5 Nil -
Amount that is invested after entry load 97,561 1,00,000 2,439
Value after 1 year 1,12,195 1,15,000 2,805
After 5 years 1,96,230 2,01,136 4,906
After 10 years 3,94,689 4,04,556 9,867
All figures except entry loads are in Rs; Returns are assumed to be 15% per ANNUM
As of January, this year the Securities and Exchange Board of India (SEBI) has
enacted a new law stipulating that direct investment in joint ventures will not charge
any import burden. Online investment is also worth withdrawing if it is not done
through a brokerage. The 2-2.5% entry load may seem small but it could affect your
state over time. If you invest Rs 1 lakh, the difference can be more than Rs 10,000
over a period of 10 years.
Until last year, few investors were concerned about entry loads because the benefits
from equity-based funds were enormous. In rising markets, the loss of returns due to
entry loads was not noticeable, but in falling markets the burden would add to the
loss.
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But the days of the wonderful return are now behind us. So, a load of 2.5% will weigh
more. Most fund houses offer online services, but the investor should visit the fund
office or investment centre to make the initial investment and send documents such as
a copy of the PAN card to meet KYC procedures. After being given a password, he
can invest online.
The SEBI move has reduced costs for investors, but much remains to be done. In
addition to the entry fee, investors are charged an annual portfolio management fee.
Known as the cost ratio, this can vary from 1.5% to 2.5%. Part of this money is used
to pay the tracking commission to the seller.
There is no difference in the estimated cost whether you invest directly or through a
broker. Logically, if the investment is straightforward and no commission is being
paid, the cost ratio should be lower. This will also increase profits for investors who
take a direct investment path.
However, if the lender you are considering advises you on what plans to invest and
why, it is best to pass on the investment. The amount of his advice may be more than
the entry fee and the tracking commission.
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DIAGNOSIS
PHASE
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1. DIAGNOSIS PHASE
2.1 Define and analyse the problem:
Generation Z is most convenience online mutual fund because they are aware, literate,
knowledge about online mutual fund. Generation Z people are believing in smart
work. Their thinking adoptive in technology. While online natural fund is more useful
and affordable because generation Z is Walter to adopt task and creativity. They are
doing standardize work with adopting technology which is favourable for them. Many
factors are affected to these segments like as facilities condition, perceived benefits,
perceived trust etc. Favourable condition is majorly affected on that. In India, Total
mutual fund investment is overall 40%. While, 20 investors out of 100, who is belong
to Gujarat state. Mutual fund distributors are not directly registered with the SEBI in
India. The SEBI has mandated the distributors or agents of mutual funds to register
with AMFI through various circulars. They also bind to follow the code of conduct
prescribed by AMFI. But some stockbrokers sub brokers and investment advisors
registered with SEBI for the distribution of mutual funds.
While investors are using mutual fund investment with agents or brokerage so there
are many problems facing by investors. Majorly three problems facing by investors.
After define and analysis the problem of mutual fund investment such as mediator are
required, cost bearer by investors for mutual fund investment, online trend. Basically,
investor believe in trust they are close to social and easily believe who is very close to
them. Let us identify majorly three problems facing by mutual fund investor.
(1) In earlier part of investor, mediator is required. mediators are taking charges
behalf of investing of investors. Most of the investor investing in mutual fund in long
term such as 10 years to 20 years’ investment plan. In the absence of a comprehensive
framework to regulate distributors, both the distributors and mutual fund houses have
generally been not very enthusiastic in offering post sales services to investors. This is
in spite of the fact that they are paid high commissions in the form of upfront and trail
fees. Owing to low engagement, there have been frequent and rising instances of miss
selling of fund units to investors. The distributor collected cash and cheques for
investing in mutual funds from numerous people in Gujarat. He collected cheques
from the investors and invested in his own name. People asked him for account
statements but he used to keep telling them that they would receive it after some time.
Investors have not got their money back yet. He fled with the money. He collected
cash from people saying that he was new to the business and required money. It
caused immense problem to other mutual fund distributors in Gujarat. The problem of
miss selling put a question mark on the competence, value and degree of commitment
of mutual fund distributors to investors.
(2) The second reason, cost barrier by investor; with distribution channel. That will
literate investor can understand, compare, analyse and that can take they own decision
in that situation, those who are literate those who are analyse, educated those who
understand, this cost is unnecessary bear by the investor so, this kind of situation the
people are looking for suggestion or looking for solution, which reduce the cost and
30 | P a g e
increase the company’s profit. High cost of mutual funds is an important problem of
mutual funds industry in India which appears mainly in the form of high fees and
commissions. For instance, the index fund in US costs investors just 0.25-0.27 percent
while, the same fund in India costs between 1 to 2.5 percent which makes them four
to ten times more expensive than the US index fund. Higher sales and marketing costs
are a dent to the profits of Indian mutual fund houses. According to the Financial
Express Bureau (2010), the sales and marketing expenses comprise around 50 percent
of total costs of AMC. While in the Western Europe, sales and marketing expenses
constitute only 2 percent of overall costs. During 2000-10, sales and marketing
expenses for the entire mutual funds industry has been over Rs. 2,000 crores. The
brokerage charges have a lion’s share in it. Reliance Mutual Fund in 2009
approximately spent Rs. 75 crores as marketing expenses out of which Rs. 66 crores
were brokerage fees. Similarly, HDFC Mutual Fund spent Rs. 55 crores as marketing
expenses, out of which Rs. 44 crores were towards brokerage fees. Thus, rising cost is
a big problem in11 mutual funds and special efforts are needed to cut down this cost
so as to boost the future prospects of the industry.
(3) Third reason that is online trend; increase significantly. post demonetization online
trend is significantly increase. In e-commerce, it translates to reducing plastic waste in
packaging materials, and also using natural ingredients to make the products that you
sell. Social media has impacted and altered our daily lives. Social media has become
an integral part of the user journey for any e-commerce brand. Customers are using
social media platform like Facebook, Instagram etc. to discover new brands, engage
with them over time, and also transact as needed. With all of the technological
advancements that are occurring today, it would be prudent to keep up with these e-
commerce trends. Enhanced personalized customer experience is going to be the key
marker for e-commerce in 2021 and beyond. Peoples are buying product online;
people are paying the money on the e-wallet. majority of instalment do to the ECS
(electronic clearing service). Majority of investor are invested to the ECS part
payment an electronic mode of payment / receipt for transactions that are repetitive
and periodic in nature. ECS is used by institutions for making bulk payment of
amounts towards distribution of dividend, interest, salary, pension, etc.
In this kind of situation, both of side as mutual fund company and investors having
one option; online mutual fund. mutual fund companies do not have any other option
so, online mutual fund is the benefit choice. online mutual fund is deliberate choice of
the predetermined choice of investors. Investors are adopted online mutual fund in the
bases of affordable and convenience in particular investment. They are easily
performing very well while using online mutual fund investment.
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2.2 Define the objectives:
2.2.1 Formulation of hypotheses:
The term "electronic mutual fund system" is a broad term that encompasses a wide
range of electronic multichannel delivery options. The fact that it can be used for a
variety of reasons adds to the imprecision with which online mutual fund is described
in the literature. In general, recent academics have exhibited a few attempts to come
up with an online mutual fund definition. Online mutual fund is defined as an
investing process through direct in mutual fund by the use of electronic
infrastructures. Online mutual fund is also seen as a sort of inter-relationship between
company and individuals, facilitated by mutual fund companies, that enables
investment to be conducted electronically. A system of electronic investment, on the
other hand, refers to an electronic means of making investment for products purchased
on the internet or at platform of mutual fund company. Online mutual fund systems,
according to another definition, are investments performed in electronic exchange
conditions as a means of exchanging money via electronic means. Furthermore, an
electronic investment is defined as a financial transaction that takes place through the
internet between a business and a customer. Electronic investment, on the other hand,
refer to money and related exchanges that are carried out via electronic means.
transaction by electronic interchange of mutual fund scheme, direct investment is also
known as online mutual fund investment.
Online mutual fund is defined as the transfer of a fiscal claim from company to a
party deemed helpful. Payments performed through an automated clearing house,
commercial card systems, or electronic transfers are referred to as e-payments.
Similarly, any investments of an electronic worth of payment from the investor to the
seller via an e-service channel that allows clients to remotely view and manage their
financial structure and exchanges over an electronic system was defined as online
investment in mutual fund. In general, an electronic investment system is an online
arrangement of monetary investment between buyers and sellers aided by a digital
investment instrument supported by a bank, a mediator, or a legal associate.
Online mutual fund is required keeping in the view limit of mutual fund. Online
mutual funds are used by such investors who are affect factors like perception
benefits, hedonic motivation and heard behavioural. People invest in mutual fund
online especially with their friends and relative.
Direct hypotheses:
H1: perceived trust has positive Impact on usage intention of online mutual fund.
Behavioural intention is defined as a measure to the strength of one’s intention to

perform a specific behavioural and has consistently been found to predict actual
technology use discovered that, in addition to performance expectancy, effort
expectancy, facility conditions, social influence, consumer implication to utilise
online mutual fund.(Rahadi D. R., Dewi, Damayanti, Afgani, Murtaqi, & Dwi, 2020).
Investment is influenced by a number of factors. In addition to hedonic motivation,
heard behaviour, contact design quality, user interface (dr.keyur nayak, viral bhatt, &
jigar nagvadia, 2021) have substantial implication on users’ opinion on online mutual
investment.
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Individuals’ behaviours are assumed to be determined by their intention to perform
the particular behaviour under the theory of behavioural, which is define as the
‘degree of a person’s’ favourable or unfavourable evaluation or appraisal of the
behaviour in question. Assumed that perceived trust and effort expectancy were major
elements influencing people’s attitude towards using online mutual fund.
H2: perceived benefits have positive impact on perceived attitude of using online
mutual fund application.
In the case of investors-based technology, the benefits supplied through adoption of

new technology system have a substantial impact on user perception.
H3: effort expectancy has positive impact on perceived attitude of using online mutual
fund investments.
The effort expectancy is affected to investors, consumers are easily use and
convenience to adoption of online mutual funds. They are believed in trust and easily
process in technology. Getting all information of scheme, size, volume, terms, present
value of NAV, historical data of returns of scheme (Bhatt & Jadhav, 2021).
Another hypothesis:
H4: Perceived usefulness has positive impact on perceived attitude on using online
mutual fund application
H5: performance expectancy has positive impact on usage intention of using online
mutual fund investment.
Performance expectancy is a crucial determinant of the success of numerous new

IT/IS systems that have recently been launched. Consumer impression of online
mutual funds trustworthiness is influenced by how strict their security and privacy
rules are, Perceived danger, perceived trust, perceived utility, perceived advantage,
perceived simplicity of use, perceived shopping attribute, and perceived Web store
atmosphere are the key elements that influence online consumer buying behaviour,
according to the findings (Bhatt & Jadhav, 2021; dr.keyur nayak, viral bhatt, & jigar
nagvadia, 2021).Trust was proven to be a significant influence in the decision to
embrace similar technology. (Rahadi R. A., Dewi, Damayanti, & Afgani).
Researchers concluded by adding that all of the independent characteristics identified
and investigated, such as perceived benefits, perceived satisfaction, perceived trust,
and perceived service quality, have a substantial impact on customers' overall
enjoyment, which determines their online mutual fund adoption behaviour. T.lee also
believes that it will be a major component in the adoption of online mutual fund.
H6: Hedonic motivation has positive impact on perceived attitude on using online
H7: Facility conditions has positive impact on perceived attitude on using online
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H8: Social influence has positive impact on perceived attitude on using online mutual
fund application
H9: Heard behavioural has positive impact on perceived attitude on using online
The identify and analyse the problem faced by mutual fund through distributers.
Researcher can predict the various factors affected in adoption of online mutual fund
investment. The analyse the mutual fund problem, for solving that online mutual fund
is most important system. The dependent variables buying intention affected by
various independent factors. While using the online mutual fund investment investors
are affected various influence factors affecting the adoption of online mutual fund.
Research Questions:
Specifically, the study will answer the following research questions:
What are the factors that influence the investors adoption of online mutual fund in
Gujarat?
Is there any relationship between online mutual fund services and investors
satisfaction?
How online mutual fund does services influence to customer
satisfaction? What are the online mutual fund services provided to
customers?
Is there any relationship amongst different various factors affected to investors?
What is the level of satisfaction derived from online mutual fund services?
How online mutual fund does services influence amongst various demographics
factors?
Define objectives:
The main objective of the study of understand buying intention of consumer with
respect to online mutual fund investments.
To Study the factors affecting consumer attitude and consumer intention towards
online mutual fund investments.
To measure the impact of factors affecting consumer attitude and consumer intention
towards online mutual fund investments.
To evaluate the mediating effect of perceived trust and perceived attitude in

determining consumer’s usage intention towards online mutual fund investment.
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To assess the categorical moderating affect to gender, innovation, marital status,
income, education and age on consumer intention towards online mutual fund
investment.
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2.3 ROAD MAP OF THE PROJECT: -
A road map is a strategic plan that defines a goal or desire out come and includes
the major steps or milestones needed to reach it.
Sr No. Activities Task Perform Start Date

Finish
Date
1. Group  Introduction of 27/11/2021 30/11/2021
Recognition Group
Activities  Co-Ordination
with Group
Members and
Mentor
2. Introduction  Selection of 1/12/2021 10/12/2021
Phase Organization
Activities  Weekly Meeting
with the mentor
3. Diagnosis  Observing Task 15/12/2021 26/12/2021

Phase and Assign Task
Activities to Group
Members
 Problems
Identification and
Define the
Objective
 Group Discussion
on Objective of
the project
4. Design and  Selection of Data 01/01/2022 10/01/2022
Analysis Collection
Phase Methods
Activities  Selection of
research Tools
 Design Frame
work of data
Analysis
36 | P a g e
5. Implementation  Discuss Findings 12/01/2022 18/01/2022
Phase Through Data
Activities Analysis
 Check the
Feasibility of
Implementing
Proposed solution
 Benefits
Delivered to the
firm
 Future
Recommendations
 Conclusion
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DESIGN AND ANALYSIS
PHASE
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3.1 STATISTICAL TOOLS AND TECHNIQUES
3.1. Research methodology:
The research method is the scientific law in obtaining data for specific purposes and uses
(Bhatt & Jadhav, 2021). The type of research used was basic research in the emerging fields
of science to find new solutions to specific management problems that occur in
companies, organizations or communities. This study included a causality study that aimed to
find explanations in the form of causal-impact relationships. In the process of scientific
discovery, this study was incorporated into quantitative research (hypothesis experimental
research). The researcher developed hypotheses and experimented with them extensively by
elaborating on the hypotheses developed by other researchers in producing a new model.
(Rahadi D. R., Dewi, Damayanti, Afgani, Murtaqi, & Dwi, 2020).
3.1.1. Population and Sample

The number of people in this study were all investors after the XYZ company did its business
three-quarters of the jobs in Gujarat and did at least one investment operation during the
period December 2020 to February 2022. The human age was estimated at production age,
18 - 65. The number of samples was filled to 400 to minimize errors. Based on the hypothesis
stated by (Bhatt & Jadhav, 2021) the sampling method used by the researcher was likely to be
a random stratified random sampling method.
3.1.2. Data Analysis Technique

According to (ajmera & bhatt, 2021), a data analysis process is performed when all data from
respondents or other data sources have been collected. This process is data collection based
on variables and types of respondents. In this study, the data analysis process was used by the
SPSS system to evaluate the tool and data quality. The model analysis process was then
performed using the SPSS with Smart PLS testing and hypothesis testing.
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3.2 CONCEPTUAL FRAMEWORK
Performance Expectancy
Perceived Trust
Hedonic Motivation
Facility Condition
Perceived Benefits
Buying Intention of Online Mutu
Social Influence
Effort Expectancy
Heard Behavioural
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3.3 DATA ANALYSIS:
Initially, a sample of 442 respondents was selected, but after data cleaning, 400 valid
responses were selected from respondents for analysis in this study.
3.3.1. Descriptive Statistics:

Descriptive statistics are important in explaining the basics of data and summarizing it
logically, as in the present study, where patterns from data may be improved. Graphic
Analysis allows for a rapid assessment of the nature of the process, as well as
providing a focus for further research and drawing the basis for almost any
quantitative data analysis. Additionally, frequency distribution and cross-cutting
tables are used in the current study to identify the responses of various consumers.
1. GENDER CLASSIFICATION
GENDER
Frequency Percent Valid Percent Cumulative
Percent
BOYS 320 80.0 80.0 80.0
Valid GIRLS 80 20.0 20.0 100.0
Total 400 100.0 100.0
INTERPRETATION:
The above chart is showing respondent on the basis of gender. Most of the investors
are Boys. Only 20% of girls are active investors.
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2. AGE CLASSIFICATION
AGE
Percent
18-30 117 29.3 29.3 29.3
31-45 182 45.5 45.5 74.8
Valid 45> 101 25.3 25.3 100.0
Total 400 100.0 100.0
INTERPRETATION:
From the above data, we can see that the highest number of respondents falls in the
age group of 31 to 45 years. The lowest no. of respondents is above 45 years’ age
group. And remaining respondent age groups are similar no. of respondents.
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3. INCOME CLASSIFICATION: -
INCOME
Frequenc Percent Valid Cumulative
y Percent Percent
0-20 64 16.0 16.0 16.0
21-50 144 36.0 36.0 52.0
Valid 51-100 133 33.3 33.3 85.3
100> 59 14.8 14.8 100.0
Total 400 100.0 100.0
INTERPRETATION:
The above chart shows that the maximum person's income is RS. 21,000 to 50,000. It
includes all potential & non-potential investors. It also shows that the person is a
10,00,00 &above.
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4. EDUCATION CLASSIFICATION
EDUCATION

Percent
UG 41 10.3 10.3 10.3
GRADUATE 91 22.8 22.8 33.0

PG 139 34.8 34.8 67.8
Valid
PROFESSIONALS 91 22.8 22.8 90.5
OTHERS 38 9.5 9.5 100.0
Total 400 100.0 100.0
INTERPRETATION:
From the above data we can conclude that max. respondent is coming with a post
graduate background which is around 34% followed by professional and basic
graduate are similar respondent which around 22.8%. A least respondent is coming
from another category which is around 9.5%.
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5. MARITAL STATUS CLASSIFICATION
MS
y Percent Percent
MARRIED 260 65.0 65.0 65.0
Valid UNMARRIED 140 35.0 35.0 100.0
Total 400 100.0 100.0
INTERPRETATION:
The above chart is showing respondent on the basis of Marital Status. Most of the
investors are married. Only 35% of unmarried are active investors.
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6. WILL YOU RECOMMENDED ONLINE BUYING MUTUAL
FUND TO OTHER?
RECOMMEND
y Percent Percent
NO 146 36.5 36.5 36.5
Valid YES 254 63.5 63.5 100.0
Total 400 100.0 100.0
INTERPRETATION:
The following table and chart there are indicate that 63.5% out of 400 respondents are
agree with who is recommended of buying online mutual fund to other people. The
least 36% respondent are not agreeing with recommended.
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3.3.2 RELIABILITY VALIDITY:
Internal Consistency:
It is very important that all the scales made of statements are biased, biased and easy
to understand. Reliability is related to the consistency of the measurement, i.e., if the
same result can be obtained repeatedly using the same procedures under the same
conditions, the evaluation of the study is considered reliable (Madden, Dillon, 1994).
Cronbach's alpha was used to determine the reliability of the building fragments. We
extend the same to test the understanding and consistency of the answers. The idea
that the scale should always represent the structure we are measuring is called the
reliability analysis. It can be beneficial at times and in some cases. When two sub-
study observations that are based on the measured design also have the same effect,
the researcher may use a reliability analysis. Cronbach's (1951) metaphor is widely
used in reliability analysis. This metric is approximately equal to dividing data into
two possible variables and computerized calculation coefficient for each division. The
ratio of these numbers is comparable to Cronbach's alpha. According to Kline (1999),
the acceptable alpha value for the IQ test reliability test is 0.8, while for the
competency test, the acceptable alpha value for reliability analysis is 0.7. In SEM,
Jöreskog'srhô is often used to determine composite fidelity. Rho’s reliability
indicators and integrated assurance (CR) are the same. They are simply calculated
based on various values (non-suspended or suspended). “Joreskogrhô” is a reliable
indicator based on unlimited uploads. This can be achieved by internal consistency
and there are two popular tools for checking internal consistency.
Table 1: Composite Reliability

Variable Composite Reliability
Performance Expectancy 0.940
Perceived Trust 0.921
Hedonic Motivation 0.915
Facility Condition 0.927
Perceived Benefits 0.894
Social influence 0.923
Effort Expectancy 0.935
Heard Behavioural 0.950
(Source: SPSS)
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INTERPRETATION:
Cronbach's alpha coefficient of reliability was used to determine the scale's
dependability. Construct reliability was determined using the recommended levels for
Cronbach's alpha (Hew et al., 2018; Wong, Tan, Tan, &Ooi, 2015), composite
reliability, and rho A values greater than 0.70 (α> 0.70) (Leguina, 2015). All of the
Cronbach's alpha values in this case are greater than 0.7, indicating strong internal
consistency and construct dependability for the created scale of the value of each
variable.
The showing above table, the variable sentences there are indicate that all over
respondents with regarding of online mutual fund are most reliable of variable.
There are interpreted that the alphas value of sentence is higher than 0.90 so, that is
indicate all of the sentences are reliable to performance expectancy of online mutual
fund.
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3.3.3 Regression model:
We can use one multiple regression model for indicate that which measurement are
factor affecting on buying intention towards online mutual fund investment model:
All sentence of Scale measurement is assuming in alphabet word. Like x1, x2, x3 etc.
Y = A + b1x1+b2x2+b3x3+b4x4+b5x5+b6x6+b7x7+b8x8+b9x9+ E
Here. Y= OBIN (dependent variable)
b1 = Performance Expectancy
b2 = Perceived Trust
b3 = Hedonic Motivation
b4 = Facility Condition
b5 = Perceived Benefit
b6 = Social Influence
b7 = Effort Expectancy
b8 = Heard Behavioural
Ho: multiple regression model is not significant
H1: multiple regression model will be significant.
Table 1: Coefficient
Independent Variable Sig.
Performance Expectancy 0.000
Perceived Trust 0.000
Hedonic Motivation 0.000
Facility Condition 0.887
Perceived Benefits 0.000
Social influence 0.000
Effort Expectancy 0.031
Heard Behavioural 0.004
(Source: SPSS)
Table 2: Correlation and Regression

Factor R R-
Square
Buying Intention 0.884 0.781
(Source: SPSS)
Table 3: One-way anova

Model Sig.
Regression 0.000
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INTERPRETATION:
Here, significant value model is 0.00 which is less than 0.05 indicate that
multiple regression model is significant value R square 0.781 indicate
78.10% variance explain by the independent variable. Hare, not violence
of assumption because Durbin-Watson value is 1.93.
There are two aspects of multi co-variality, one is tolerance and second is
VIF (Variance influence factor) identify VIF less than 05 and tolerance is
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greater than 0.20. Then we can conclude that the no violence of
assumption. And showing all the graph indicate that the data is present
normality.
3.3.4 ONE-WAY ANOVA:
H0: There are no significant different among the various age group with respect to
overall buying intention.
H1: There are significant different among the various age group with respect to
overall buying intention.
Table 1: Descriptive of overall buying intention

AGE N Mean Standard
Deviation
18-30 117 4.6581 1.34413
31-45 182 4.8338 1.32738
45> 101 5.1089 1.33436
Total 400 4.8519 1.34114
Table 2: ANOVA
Sum Df Mean F Sig
Squares Square
Between 11.125 2 5.562 3.125 0.045
Groups
Within 706.536 397 1.780
Groups
Total 717.661 399
Table 3: Robust Tests of Equality of Means

Statistic Df1 Df2 Sig
Welch 3.097 2 230.433 0.047
51 | P a g e
INTERPRETATION:
Table 1 indicate descriptive statistics of various respondents of age group and there
overall buying intention. Here, it is clearly indicated that those respondents whose age
group between above 45 years having higher intention efficiency mean (mean 5.10
and stander deviation 1.33) shows higher upper efficiency and less fluctuation in the
data. While 18 to 30 age group having lowest efficiency with 4.65 and higher
fluctuation
1.34. while benchmark is 4.72 and 1.34.
In table 2, levene is perform to check homogeneity and equality of variance, here,

significance value base on mean is 0.756 which is more than 0.05 indicate that
variance of all three group is equal. There for here we give performance to Robust test
results.
Table 4, Robust test table (substitute of anova) indicate that the significance value is
0.047. which is less than 0.05. It indicates that there is significance difference among
the various age group with respect to overall buying intention. So, H1 is accepted and
H0 is rejected.
52 | P a g e
3.3.5. Post Hoc Tests
Multiple Comparisons
Dependent Variable: OBIN
(I) (J) Mean Std. Sig. 95%
AGE AGE Difference Error Confidence
(I-J) Interval
Lower
Bound
31-45 -.17567 .15808 .508 -.5476
18-30 45> -.45079* .18120 .035 -.8771
18-30 .17567 .15808 .508 -.1962
Tukey HSD 31-45 45> -.27512 .16553 .221 -.6645
18-30 .45079* .18120 .035 .0245
45> 31-45 .27512 .16553 .221 -.1143
31-45 -.17567 .15850 .510 -.5494
18-30 45> -.45079* .18185 .037 -.8800
Games- 18-30 .17567 .15850 .510 -.1981
31-45 45> -.27512 .16526 .221 -.6653
Howell
18-30 .45079* .18185 .037 .0216
45> 31-45 .27512 .16526 .221 -.1150
Multiple Comparisons
Dependent Variable: OBIN
(I) AGE (J) AGE 95% Confidence
Interval
Upper Bound
31-45 .1962
18-30 45> -.0245*
18-30 .5476
Tukey HSD 31-45 45> .1143
18-30 .8771*
45> 31-45 .6645
31-45 .1981
18-30 45> -.0216*
18-30 .5494
Games-Howell 31-45 45> .1150
18-30 .8800*
45> 31-45 .6653
53 | P a g e
OBIN
AGE N Subset for alpha =
0.05
1 2
18-30 117 4.6581
Tukey 31-45 182 4.8338 4.8338
HSDa,b 45> 101 5.1089
Sig. .551 .233
Means Plots
Interpretation:
Post hoc tests are an integral part of ANOVA. When you use ANOVA to test the
equality of at least three group means, statistically significant results indicate that not
all of the group means are equal. However, ANOVA results do not identify which
particular differences between pairs of means are significant. Use post hoc tests to
explore differences between multiple groups means while controlling the experiment-
wise error rate.
Here, above post hoc test are represent, turkey HSD test value the significance value
of age group between 18 to 30 and 31 to 45 is 0.508(these is more than 0.05) indicate
that between these group are not equally performed. Another age group between 31 to
45 and above 45 years which is significance value 0.221 are indicate that there are not
equally performed between these age group. Games-Howell test also indicate similar
results to turkey HSD.
Mean plots Table indicate that the age group of above 45 years is more satisfied with
overall buying intention investment. Which is value 5.20 indicate that comparison to
another age group there are more satisfied buying intention with respect to online
mutual fund investments.
54 | P a g e
IMPLIMENTATION
PHASE
55 | P a g e
4.1 ACTION PLAN:
 Now a day youngest people are more use online mutual fund because they are
supposed to all performance of mutual fund adoption by themselves so, we focused on
this segment create awareness among them by knowledge and implicate online
attraction of mutual fund investment.
 On seeing businessman and salaried people need to investment for long term financial
goal such as marriage, education of child, retirement plan, purchase of property,
repayment of debtors, expand in business, rise fund for survive of life etc. so, in this
situation they have need to huge money for fulfil their requirements. So that we need
to take many actions for that such as update information on daily basis, awareness of
technology; how it uses and which function are more Important.
 People are facing problem towards information security in using the technology. In
this stage also needs to create more familiar and coverage to safety service. While
using technology not get any misbehave and fraud activity.
 When require update system than do it. Because sometime chance of hack of system
that time overall loss facing by investors.
56 | P a g e
4.2 FINDING
4.2.1 Theoretical Contribution:
This comprehensive study provides an important theoretical view. This is one

research attempt to create a model to analyse users' attitudes and goals in Gujarat
province with their mutual fund online investments. This study helps to understand
the concept of the link between imaginative attitudes and other factors that lead
directly or indirectly to increasing users ’intentions in using mutual fund applications
online. In the past, factors such as perceived reliability, perceived benefits, perceived
ease of use, performance duration, social influence, purchasing intent, expected
duration of effort, hedonic motivation, institutional status and sound behaviour were
included. However, few have attempted to understand each impact of dynamics such
as social influence, institutional status and offer a new perspective on the potential
balance and analysis of multiple presidential factions of different categories such as
gender - men and women, business professionals and others. , marital status - married
and single, high income in the middle of nowhere, education - basic and special and
the analysis of multiple two additional presidential groups of X, Y and Z and high-
income, middle- and low-income in determining the purpose of use in Internet use -
mutual fund to assess their effect on the relationship between the various structures. It
represents the first attempt to assess the purpose of use and mediation effects of
perceived benefits and trustworthy assumptions and in addition to those various
presidents. From now on, this study provides some of the most well-defined data on
how user trust and attitudes are formed under a variety of variables while focusing on
the impact of gender equality, employment, marital status, income, education and age.
The structure model demonstrates two different approaches, the first method shows -
visual usability, visual simplicity and hypothetical benefits that motivate the user’s
attitude in determining their intentions to use in using a mutual fund online
application to make an online investment. Another approach suggests that perceived
reliability, longevity and hedonic promotion lead to perceived trust in users by
determining their intentions to use a mutual fund online where the perceived risk
holds the opposite, considering the risk, greater perceived trust and negative. on the
contrary. In addition, the current study also included and established that social
impact plays a direct role in determining their intended use in online mutual fund
application. There are few studies that try to find a relationship but not one of the
previous building models that works in all buildings with male and female president,
job-worker, professional, business etc., marital status - married and single, high
income. middle ground, education - basic and special and the analysis of many more
two presidential groups - generation X, Y and Z and salary - large, medium and low
as flexible moderators together in the model.
Here, the study contributed early to differentiate the influence of community-building
and institutional status and to assess relationships with each gender president - male
and female, new- and upper-level design, marital status - married and single, income -
high income. low-level, education-based and specialized and multi-group analysis of
two other presidents X, Y and Z and high-, middle- and low-income in determining
the user intentions of mutual fund online applications. This evidence-based study
therefore closes the research gap and develops current knowledge through the
construction of a conceptual framework that reflects the links shown above. The
growing use of the 2019 online services epidemic adds value to research into these
features and explores their link to mutual fund investment intentions online.
57 | P a g e
Adoption of Smart-SPSS
One of the major contributions is that data is analysed using Smart SPSS and
Structural Equation Modelling based on low squares (SPSS). Differential SPSS
technology was used in this study. SPS is an ideal way to introduce a new theoretical
model that has not yet been validated. Separation-based SPSS selection was also
based on the fact that reflective and constructive relationships can be analysed in the
same model. For data analysis, Smart SPSS technology and Structural Equation
modelling (SPSS) technology based on the Incomplete Small Squares are used.
Differential Technology is used in this investigation. SPS is an appropriate way to
provide a new theoretical model, which has not yet been tested. The fact that both
thoughtful and constructive interactions can be tested in the same model has further
influenced the decision to hire SPSS based on diversity.
58 | P a g e
4.2.2 Practical Managerial Implication:
 The majority of 80% of respondent are male and 20% remaining respondent is female.
The majority of 45% of respondent which is age group between 31 to 45 years. The
most of 86% candidate are monthly income group between 21000 to 50000 and
second most of 33% of respondent are monthly group between 51000 to 100000.The
majority of 35% of respondent are education level is post-graduation. The most of
65% of respondent or 260 out 400 people which marital status married. The 254 out
of 400 candidates will recommended online buying mutual fund to other people
 In 35% of respondent who is moderate risk associated with mutual fund majority of
59% of investor who is mode of mutual fund investment getting to systematic
investment plan rather than one-time investment because salaried people investment
in systematic investment plan in limited fixed income. 3 to 7 years long would 34% of
investor like to hold his\her mutual fund investment?
 Majority of 9% of investor are somewhat agree toward overall performance

expectancy doing intention in online mutual fund investment. The second most 7.3%
of investor feel that neither agree nor disagree toward overall performance expectancy
doing intention in online mutual fund investment.
 Majority of 7.5% of investor are somewhat agree toward overall performance

of investor feel that neither agree nor disagree toward overall perceived trust using
online mutual fund application.
 Most of 12.5% of investor are somewhat strongly agree toward overall performance
of investor feel that somewhat agree toward overall hedonic motivation using online
 Most of 46 out of 400 respondents are feel that neither agree nor disagree toward
overall performance of facility condition by using online mutual fund application. The
second most 42 respondents are agreeing toward overall performance of facility
condition buy using online mutual fund application.
 Majority of 48 respondents feel that neither agree nor disagree on overall performance
of perceived benefit by using online mutual fund investment. The second most 40
respondents are somewhat agreeing toward overall performance of perceived benefit
by using online mutual fund investment.
 Majority of 11.8% of investor are strongly agree toward overall performance

expectancy doing intention in online mutual fund investment. The second most 11%
of investor feels that agree toward overall social influence using online mutual fund
application.
59 | P a g e
 Majority of 49 respondents feel that somewhat agree on overall performance of
perceived benefit by using online mutual fund investment. The second most 42
respondents are neither agreeing nor disagree toward overall performance of effort
expectancy by using online mutual fund investment.
 Majority of 46 respondents feel that somewhat agree on overall performance of

perceived benefit by using online mutual fund investment. The second most 36
respondents are agreeing toward overall performance of ease of use by using online
mutual fund investment.
 Majority of 7.3% of investor are somewhat agree toward overall performance

of investor feels that strongly agree toward overall heard behaviour using online
60 | P a g e
4.3 Implementation of solution:
1) Mass media marketing (Social media marketing):

Every mutual fund brand has an active social media page where they constantly
publish content. But how much does it really add to the overall goal of generating
awareness and interest? If we have to knock down 2 customer sets to get a
partnership, these are:
You know the concept of a mutual fund but you are not sure which fund / product you
can invest in a mutual fund as an investment, but you are not sure why investing in it
to deal with this situation is not so easy to combine financial statements that seem
important. has become a trend in the mutual fund industry. Fixed deposit simply states
- Get 6% FD fixed interest rate on maturity. There is nothing complicated to
understand. But when it comes to selling a mutual fund product, fund houses are
turning to phrases such as "hitting the benchmark index." How many customers
understand what a benchmark indicator is? Making communication easy to
understand and catching up within 7 seconds is easy for people to understand. Also,
mutual funds need to create fun and engaging content. They have to finish long videos
or complex charts and catch up. Important - something similar to what a customer
does when deciding whether to invest or save. How do you choose an investment
product and why? And speak the language of his choice. Divide the pain points into
each segment of investors and attack them in a fun engaging and easy-to-understand
way.
2) Creating a blog:
Every mutual fund company should invest in advertising the content as a channel for
raising awareness and making a profit. Blogs also assist in content recovery due to the
nature of the content acquisition due to the nature of the content information in
advance and maintain consistency.
3) Display campaign and retargeting:

If you can get people to check out your website and blogs, this means you have
succeeded in raising awareness. What about re-marketing your products using display
campaigns on google display network and Facebook? It will drive strong product
memory and often get those people back to your website. If someone has a star that
engages with your content regularly, it is a strong sign that you can drive the desire
and action.
4) Webinars:
The art of marketing and sales lies in connection. And what better way to do it than to
use webinars to connect with people? It will create greater trust in mutual funds.
Webinars are a great way to understand customer challenges and deal with them. Be a
reliable financial advisor to your client and they will buy from you. If you can do that
regularly, you think customers will prefer to buy from another company.
61 | P a g e
5) Search engine optimisation:
Discovery happens on google, and interactions happen on Facebook. This is an online
behaviour trend over the past few years. There are many websites that reap the
benefits of customer engagement because of a well-thought-out strategy for SEO.
Unfortunately, most types of mutual funds do not focus on SEO at all. A careful
combination of keyword research, business-focused website design and improved
content can double the traffic of mutual fund companies.
62 | P a g e
4.4 CONCLUSION:
This study has adopted the theoretical basis which is a combination from a variety of
technical acceptance frameworks that address the ethical purpose of using a technical
researcher and applying external flexibility that also discusses the acceptance of an
online partnership. Eight variables that significantly affect the purpose of purchasing
expected performance time, perceived trust, hedonic promotion, institutional status,
perceived profitability, social influence, expected duration of effort and sound
behaviour. These key variables can be used continuously as a reference or literature to
further consider these variables as an important factor in determining the adoption of
a mutual fund online platform. However, institutional status and social impact were
found to be less related to the purpose of the purchase. Location refers to the
resources and information of users for the use of technology. Based on the analysis
situation the situation is not significant due to the provision of the required minimum
balance in the mutual fund so that more people can use it. Related to the information,
it is possible because the friendly and easy-to-use interface enables users to easily
translate information locally.
The recommendation of this study was to examine the relationship between diversity
and gender, occupation, marital status, income, education, and age as a result of
measuring the intended use of mutual fund online applications. In this study the
researcher examined the various direct relationships and effects of measurement and
determined their impact on the intended use of mutual fund online application users.
The study highly recommended a mutual fund online application company to rethink
and redesign its profit-oriented strategies and strategic plans by introducing a variety
of innovations in the expected future effort and at the same time highlighting the
usefulness of the application. From India’s point of view, this study provides insights
into how you can use the high-mindedness and reliability of a good price to create
more targeted use for users of online mutual fund applications in the context of
India’s largest city.
63 | P a g e
5. REFERENCES:
Bibliography
Agarwal, S., & Mirza, N. (2017). A STUDY ON THE RISK-
ADJUSTEDPERFORMANCE OF MUTUAL FUNDS INDUSTRY IN INDIA. REVIEW
OF INNOVATION AND COMPETITIVENESS , 3 (1), 93.
ajmera, h., & bhatt, v. (2021). A STUDY ON FACTORS AFFECTING CONSUMER
ATTITUDE AND INTENTION. https://www.researchgate.net/publication/357268896 ,
300.
Baral, P. K., & Das, D. K. (2016). Mutual Funds Industry in India: A Growth Trend Analysis.
International Journal of Multidisciplinary Research and Development , 3 (1), 14.
Bhatt, V., & Jadhav, D. (2021). Does Experience of Distributor Has Moderating Effect on
The Mediating Factors. Turkish Journal of Computer and Mathematics Education , 12
(12), 4031.
CARHART, M. M. (1997). On Persistence in Mutual Fund Performance. THE
JOURNAL OF FINANCE , 3 (1), 82.
Das, K. K., & Shahnawaz, A. (2020). The role of digital technologies on growth of mutual
funds industry:An impact study. Research in Business & Social Science , 9 (2), 176.
Dewi, E. K., & Rahadi, R. A. (2020). A Conceptual Study of Technology Adoption of Online
Mutual Fund Investment Platform. EJBMR, European Journal of Business and
Management Research , 5 (3), 5.
Dewi, E. K., & Rahadi, R. A. (2020). A Conceptual Study of Technology Adoption of Online
Mutual Fund Investment Platform. EJBMR, European Journal of Business and
Management Research , 5 (3).
Jangid, M. V., & Bansal, D. R. (2018). A Study of Factors Affecting the Investors’
Decision in the Adoption of Mutual Funds. Journal for Studies in Management and
Planning , 4 (4), 175.
Kelly, B. V. (2010). Investing in Green Mutual Funds: Determining the Environmental
Screens Applied in Actively Managed Funds. Olivet Nazarene University , 148.
Mamaysky, H., & Spiegel, M. (2016). A Theory of Mutual Funds: Optimal Fund
Objectives and Industry Organization. JEL , 2 (1), 64.
MARTIN, R., & MALHOTRA, D. (2014). Mutual Fund Governance and Fund
Performance. The Journal of Index Investing , 19.
Metre, S. G., & Parashar, P. (n.d.). Impact of Digitization on Mutual Fund Services in India.
SSRN Electronic Journal , 656.
Mishra, S. (2017). A study of recent trends in Indian. IRJET Journal , 4 (4), 3583.
Mun˜oz, F., & Vargas, M. (2013). Environmental Mutual Funds: Financial
Performance and Managerial Abilities. J Bus Ethics , 569.
64 | P a g e
Rahadi, D. R., Dewi, E. K., Damayanti, S., Afgani, K., Murtaqi, I., & Dwi, R. (2020,
October 03). ADOPTION ANALYSIS OF ONLINE MUTUAL FUND INVESTMENT
PLATFORM FOR MILLENNIALS IN INDONESIA. SIBR 2020 (Kuala Lumpur)
Conference on Interdisciplinary , 24.
Rahadi, R. A., Dewi, E., Damayanti, S., & Afgani, K. Adoption Analysis of Online Mutual
Fund Investment Platform for Millennials in Indonesia. Review of Integrative Business
and Economics Research , 10 (1), 81.
Ramkrishna, D., Tanmoy, D., & Prasad V K, S. (2019). Innovations & Technology
Based Initiatives in Mutual Fund Distribution Intermediation in India. International
Journal of Innovative Technology and Exploring Engineering (IJITEE) , 9 (2), 8.
Singh, B. K. (2011). A Study on Investors’ Attitude towards Mutual Funds as an
Investment Option. Asian Economic and Social Society , 1 (2), 15.
Wicaksono, B. S., & Jubaedah. (2020). Understanding Investment Behavior Intention to
Adopt Online Mutual Funds based on Unified Theory of Acceptance and Use of Technology
Model. International Journal of Multicultural and Multireligious Understanding , 7 (10),
107.
Website sources:
https://scripbox.com/campaign/online-mutual-funds- investment?
utm_source=google&utm_medium=cpc&utm_campaign=Search-AD- Mutual-Funds-
Online&gclid=CjwKCAiAl-6PBhBCEiwAc2GOVLQgT-
v4B16uHferMfzb_y8CtQEoSqwtKXLTO3n4uPHdv8FzWSY5fxoCYmIQAvD_BwE
https://www.sbimf.com/en-us
https://www.investopedia.com/terms/m/mutualfund.asp
utimf.com/about/overview/
https://www.reliancesmartmoney.com/Insights/blog/rsm-articles/2018/02/19/the-5-
benefits-of-buying-mutual-funds-from-online-agents
https://www.franklintempletonindia.com/investor/investor-education/video/benefits-
of-investing-in-mutual-funds-io04og32
https://economictimes.indiatimes.com/wealth/invest/problem-for-investors-
evaluating-a-mutual-fund-on-past-performance-will-become-difficult-
now/articleshow/63553743.cms
65 | P a g e
6. ANNEXURE & APPENDIX
Questionnaire: -
1. Are you aware about mutual fund?
a) Yes
b) No
2. Do you invest in mutual fund?

a) Yes
b) No
3. Do you aware about online mutual fund?

a) Yes
b) No
4. Gander:
a) Male
b) Female
5. Age:
a) 18-30
b) 31-45
c) 45 >
6. Marital status:
a) Married
b) Unmarried
7. Your monthly Income?

a) < 20,000
b) 21,000-50,000
c) 51,000-1,00,000
d) > 1,00,000
66 | P a g e
8. Education:
a) Under graduate
b) Graduate
c) Post graduate
d) Professional
e) Others
9. How do you rate the risks associated with mutual funds?

a) Low
b) Moderate
c) High
10. Mode of mutual fund investment you will prefer?

a) One-Time Investment
b) Systematic Investment Plan (SIP)
11. How long would you like to hold your mutual fund investment?
a) < 3 years
b) 3-7 years
c) >7 years
12. Give your preference below mentions variable statements for buying intention toward
online mutual fund.
{1=strongly disagree, 2= Disagree, 3= somewhat disagree, 4=neither agree nor
disagree Agree 5=somewhat agree 6=agree 7=strongly agree}
USER INTERFACE
User Interface 7 6 5 4 3 2 1
UI1 Comfortless of design user interface in the
technology
UI2 Users’ interactivity (process flow) feature of the
technology
UI3 Apps feature provides well-designed menus and
icons
UI4 Apps feature provides a good page layout
67 | P a g e
PERFORMANCE EXPECTANCY
La Performance Expectancy (PE) 7 6 5 4 3 2 1
bel
PE Usefulness in using the technology
1
PE Quickness in using technology
2
PE Performs a task better than agent through
3
PE Perform many functions at one time
4
PERCEIVED BENEFIT
Perceived Benefit (PB) 7 6 5 4 3 2 1
PB1 I have / would like to benefit from promotions
offered by the online mutual fund apps
PB2 The associated promotions motivate me to use
online mutual fund apps
PB3 I would like to use/continue to use online
mutual fund app as long as promotions are
offered
HEARD BEHAVIOURAL
Label Heard Behavioral (HB) 7 6 5 4 3 2 1
HB1 Continuity to use the technology in the
future
HB2 Willingness to use the technology in daily
usage
HB3 Willingness to use the technology frequently
HB4 The habit of using technology
HB5 Addiction in using technology
68 | P a g e
SOCIAL INFLUENCE
Label Social Influence (SE) 7 6 5 4 3 2 1
SE1 The significant others’ (families, relatives,
friends) recommendation in using the
technology
friends) influence towards behavior in using
the technology
friends) opinion in using the technology
EFFORT EXPECTANCY
Label Effort Expectancy (EE) 7 6 5 4 3 2 1
EE1 Clarity in using technology
EE2 Easiness in using the technology
EE3 Easiness in becoming expert using the
technology
EE4 Easiness in learning the technology
FACILITY CONDITION
Label Facility Condition (FC) 7 6 5 4 3 2 1
FC1 Access to the resources to use the technology
FC2 Access to the knowledge to use the technology
FC3 Compatibility within one’s technology to the
other technology
FC4 Operate in an integrated team environment
69 | P a g e
HEDONIC MOTIVATION
Label Hedonic Motivation (HM) 7 6 5 4 3 2 1
HM1 The fun in using the technology
HM2 The enjoyment in using the technology
HM3 The feeling of entertained in using the
technology
HM4 The control in using the technology
HM5 The feeling of curiosity while using the
technology
PERCEIVED TRUST
Label Perceived Trust t(PT) 7 6 5 4 3 2 1
PT1 Users trust towards information security in
using the technology
PT2 Users’ belief towards mutual fund product
managed by investment managers provided
by the technology
PT3 User trust towards the technology because it
is guaranteed by Financial Services
Authority
(OJK)
PT4 Keep classified information secure.
BUYING INTENTION
Label Buying Intention (BIN) 7 6 5 4 3 2 1
BIN1 I expect my use of the online mutual fund apps
to increase in the future
BIN2 I intend to continue to use the online mutual
fund apps in the future
BIN3 I will recommend the use of the online mutual
fund apps to friends
BIN4 I plan to use the online mutual fund apps
frequently
70 | P a g e
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 Evaluation of e-commerce platforms to sell mutual funds is currently underway, and a

DESIGN AND ANALYSIS PHASE

A mutual fund is a financial coordinator in the financial market that combines

A mutual fund is a collective fund or fund managed by a qualified and

(1) Sponsor: The promoter of the Mutual Fund Company is known as a

(4) Money Market funds: They specialize in investing in short-term financial

(8) Diversified funds: A separate fund is an investment fund that is widely

(1) Mutual fund as a source of household sector savings mobilization: The

(2) Mutual Fund as financial service or Intermediary:

(3) Mutual funds popularity among small investors:

1.5 WAYS TO INVEST IN MUTUAL FUNDS ONLINE: -

1. How to Buy Mutual Funds from AMC (Direct Plans)

2. How to Buy Mutual Funds from Investment Platform

3. How to Invest in Mutual Funds through a DEMAT Account

5. How to Buy Mutual Funds through an Agent

Step 1: Visit website and Select an Investment Goal

2. Start Growing Wealth Goals

3. Be Emergency Ready Goal

4. Give your child Rs 1 Crore advantage! Goal

5. Become a CROREPATI Goal

6. Maintain your lifestyle in retirement Goal

7. Online Tax Saver Goal

Step 3: Proceed for Investment

Step 4: Investor Information and Money Transfer

Fund category Regular plan Direct plan Difference

I want to invest Rs 1 lakh in mutual funds. My broker told me that it would be

How entry load matters (on an investment of Rs 1 lakh)

2.1 Define and analyse the problem: