Vishweshwar Education Society’s

Indira Institute of Business

Management
PROJECT REPORT
ON

“PERFORMANCE ANALYSIS OF FRANKLIN INDIA TECHNOLOGY

FUND WITH NIFTY MIDSMALL IT & TELECOM INDEX”

SUBMITTED TO

INDIRA INSTITUTE OF BUSINESS MANAGEMENT, NAVI

MUMBAI

BY

MR. KISHAN MALLESH KOLI

Roll No. 2022092

Batch No. 2022-2024

IN PARTIAL FULFILLMENT OF

MASTER OF MANAGEMENT STUDIES (MMS),

UNIVERSITY OF MUMBAI

NOVEMBER, 2023
 DECLARATION

I, Mr. Kishan Mallesh Koli hereby declare that this project report is the record of authentic
work carried out by me during the period from 8st May, 2023 to 8th July, 2023 and has not
been submitted to any other University or institute for the award of any degree/ diploma etc.

Signature

Name of the student

Kishan Mallesh Koli

Date :
CERTIFICATE FROM THE COMPANY/ ORGANISATION
 CERTIFICATE

This is to certify that the project entitled ‘Summer Internship Report’ submitted by Mr.
Kishan Mallesh Koli of Indira Institute of Business Management in partial fulfilment for
the award of Master of Management Studies of Mumbai University is his original work and
does not form any part of the projects undertaken previously.

This project report is the record of authentic work carried out by him during the period

from 08st May, 2022 to 8th July, 2022.

He had worked under my guidance.

Prof. Amit Ahire Dr. Susen Varghese

(Faculty Guide) Joint Director

Place: Navi Mumbai

Date:
 ACKNOWLEDGEMENT

I would like to express my gratitude towards my guide from Aditya Birla Sun Life
Insurance Ltd. Mr. Jitendra Bapna for their continuous guidance and support which
helpedme to complete my internship with better achievements.

I would also like to thank the Joint Director of Indira Institute of Business Management, ,
Dr. Susen Varghese and placement cell head, Prof. Aji John for providing us with a
better opportunity to work and gain industry experience.

I would like to express my deepest gratitude and special thanks to the Institute guide Prof.
Amit Ahire who despite being extraordinarily busy with his duties, took time out to hear,
guide, and keep me on the correctpath which helped me to complete my project with a
significant amountof knowledge and valuable inputs.
Sr.no Title (Chapter Name) Page No.

1. Introduction

2. Objective

3. Introduction Of Company

4. Position And Responsibilities in Internship

5. Weekly activity Reports

6. Learning of Lessons and Skills During

Internship
7. Conclusion

8. Introduction fo Franklin India Technology

Direct plan
9. Analysis of Mutual fund

10. Comparison Between fund and benchmark

11. Conclusion

Bibliography
 CHAPTER 1
INTRODUCTION
 INTRODUCTION

This project is about the Summer Internship Program Which I completed at

Aditya Birla Sun Life Insurance company. The summer internship duration was
from 08/May/2023 to 08/July/2023. The internship is all about the sales of
insurance and training on the equity, Derivatives& process of IPO.

In this Internship, I have learned in detail about the insurance company and how
the insurance products are made, and how they are running in the market. I have
analysed the risk profile of the clients and how much risk they are ready to bear
and how much returns they expected. Through the survey of google Forms, we
analyzed the risk capacity of clients and through the help of responses, we
introduced them to different insurance products according to their capacity of
risk-bearing and profit expected.

I have gained knowledge about the process of IPO and how IPO is approved by
SEBI and Listed in the Stock market. I have learned about equity investment and
what factors and analyses need to be looked at while investing in the company to
get more returns. I have learned about derivatives and what are the types of
derivatives and how they are traded in the market. I have also learned about
Fundamental analysis which is used for selecting the best stock with more returns
and technical analysis which is used while trading in Equity and Derivatives for
getting the right time to enter and exit position from the market.
CHAPTER 2
OBJECTIVE
 OBJECTIVES OF THE INTERNSHIP :

1. To understand various policies of ABSLI.

2. To know the customer regarding the Birla-sun insurance and its product.
3. To gain the knowledge about the financial terms of a company.
4. To know the benefit of the client and the employees of the ABSLI.
5. To understand the working of various departments of a company.
 CHAPTER 3
COMPANY PROFILE – ADITYA BIRLA SUN LIFE
INSURANCE
 COMPNAY PROFILE – ADITYA BIRLA SUN LIFE
INSURANCE

Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a part of

Aditya Birla Capital Ltd (ABCL). ABSLI was incorporated on August 4th,
2000 and commenced operations on January 17th, 2001. ABSLI is a 51:49 a
joint venture between the Aditya Birla Group and Sun Life Financial Inc., an
international financial services organization in Canada.

ABSLI offers a range of products across the customer’s life cycle, including
children future, wealth protection plans, retirement and pension solutions,
health plans, traditional term plans and Unit Linked Insurance Plans
(“ULIPs”).

As of June 2022, total AUM of ABSLI Stood at Rs.6,06,604 million. ABSLI

recorded a gross premium income of Rs. 26,197 million in Q1 FY 2022-23
and registering a y-o-y growth of 49% in Gross Premium with Individual
Business FYP at Rs 4,498 Mn. ABSLI has a nationwide distribution
presence through 340+ branches, 8 branch assurance partners, 6 distribution
channels, over 49,000+ direct selling agents, other Corporate Agents and
Brokers and through its website. The company has over 19,500 employees
and more than 18 lac active customers.
 ABOUT ADITYA BIRAL CAPITAL

Aditya Birla Capital Limited (ABCL) is the holding company for the
financial services businesses of the Aditya Birla Group. ABCL’s subsidiaries
have a strong presence across Protecting, Investing and Financing solutions,
ABCL is a universal financial solutions group catering to diverse needs of its
customers across their life stages. Powered by more than 33,500 employees,
the subsidiaries of ABCL have a nationwide reach with 1,094 branches and
more than 2,00,000 agents / channel partners and several bank partners.

As of June 30th, 2022, Aditya Birla Capital Limited manages aggregate

assets under management over Rs. 3,550 billion, has a consolidated lending
book of approx. Rs. 699 billion, and an active customer base of approx. 39
million, through its subsidiaries and joint ventures.

Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the
league of Fortune 500. Anchored by an extraordinary force of over 140,000
employees, belonging to 100 nationalities. Today, over 50% of Group
revenues flow from overseas operation’s that span 36 countries in north and
south America, Africa , Asia , Europe.

Vision:

“To be a leader and role model in a broad-based and integrated financial

services business.”

Mission :

“To deliver superior value to our customers, shareholders, employees and

society at large.”

Values:

Integrity, Commitment, Passion, Senselessness and Speed.

ABOUT MANGEMENT OF ABOUT ADITYA BIRAL CAPITAL :

CHAIRMAN

• Mr. Kumar Mangalam Birla.

MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

• Mr. Kamlesh Rao.

NON-EXECUTIVE DIRECTORS

• Mr. Ajay Srinivasan.

• Mr. Bishwanath Puranmalka.

• Mr. Leo Grepin.

• Mr. Sandeep Asthana.

• Mr. Colm Freyne.

• Mrs. Pinky Atul Mehta.

INDEPENDENT DIRECTOR

• Mr. Arun Adhikari.

• Mr. Haigreve Khaitan.

• Mr. Shobhan Thakore.

CHIEF FINANCIAL OFFICER & HEAD – GROUP BUSINESS

• Mr. Amit Jain.

COMPANY SECRETARY

• Mr. Amber Gupta.

 COMPANY PRODUCT

1. ABSLI vision Money Back plus Plan:

ABSLI Vision Moneyback Plus Plan is a money-back insurance plan which
provides you with regular income to meet your financial requirements along
with adequate life.

2. ABSLI vision Life income plan:

The ABSLI vision life income plan, a traditional participating whole life
plan that helps you to not plan your financial goals but also realize you
dreams by providing you with a steady income and whole life cover. With
survival benefits payable every year from the ends of the premium paying
terms till maturity and a life insurance benefit this plan offer perfect blend of
income and financial protections for you and your family.

3. ABSLI Saving Plan:

Aditya Birla Sun Life Insurance Assured Income Plus gives your life cover and
assured income for the long term. Make savings easy and convenient. ABSLI
Assured Income Plus offers the flexibility to choose from two plan options i.e.,
Income only benefits and Income with Lumpsum benefit.

4. ABSLI secure Plus Plan:

ABSLI secure plus plan recognize the importance of such needs and helps you
fulfil them by offering you a second income which ensures peace of mind.
 BENFITS OF BIRLA SUN LIFE INSURANCE:

• Multiple plans :
Birla Sun Life insurance offers their customer a host of life insurance
productsTerm insurance, Endowment policy, ULIP, Money Back Life
insurance and whole life Insurance.
• Flexible premiums:
Customer can enjoy flexibility in paying premiums by opting for
monthly or annually premium paying option.
• Pay-out and Benefits:
Customer can opt for Annual Income or Lump Sum benefit pay-out
option.
• Tax benefits:
Customers are entitled to Tax saving benefits under Section 80C,
80CCC, 80CCE, 80D, Sec 3 of 10(10A) and 10(10D) under the
Income Tax Act,2016.
 COMPETITORS

1.Life Insurance Corporation of India:

LIC stands for Life Insurance Corporation of India. It started its operations as a
corporate firm in September 1956 after the Life Insurance of India Act was
passed by India’s Parliament in June 1956. The LIC Act came into effect from
July 1956. It helped in the nationalization of the private insurance industry in
India. LIC of India was formed by merging 154 life insurance companies, 16
foreign companies and 75 provident companies. It is one of the largest financial
institutions in India. It has an asset value of over 2,529,390 crores. The
headquarters of LIC is in Mumbai, Maharashtra.

LIC Top Products:

• LIC’s Tech Term Plan
• LIC’s Jeevan Amar Plan
• LIC’s Jeevan Lakshya Plan
• LIC Jeevan Shiromani Plan
• LIC’s Jeevan Umang Plan
• LIC’s New Endowment Plus Plan
• LIC’s Jeevan Tarun Plan

1. SBI Life Insurance Company:

SBI Life is an Indian life insurance company which was started as a joint
venture between State Bank of India (SBI) and French financial institution
BNP Paribas Cardif. SBI has a 55.50% stake in the company and BNP
Paribas Cardif owns a 0.22% stake. Other investors are Value Line Pte. Ltd.
and MacRitchie Investments Pte. Ltd., holding a 1.95% stake each while the
remaining 12% is free float stake with public investors. SBI Life has an
authorized capital of ₹20 billion (US$250 million) and a paid-up capital of
₹10 billion (US$130 million). The AuM is Rs. 2,623.5 billion.
 Top Products:
• SBI Life Smart Platina Plus
• SBI Life New Smart Samriddhi
• SBI Life Smart Swadhan Plus
• SBI Life Saral Jeevan Bima
• SBI Life Arogya Shield
• SBI Life E-Wealth Insurance
• SBI Life Smart Insure Wealth Plus

2. HDFC Standard Life Insurance Company:

HDFC Standard Life Insurance Company was established in 2000 as a JV

between Housing Development Finance Corporation Limited (HDFC Ltd)
and Standard Life
Aberdeen. It was the first private company to get a license from IRDAI in
2001. As of March 2019, the company was providing 38 individual and 11
group insurance products. After strong period of growth, the company
completed its initial public offer (IPO) in 2017. HDFC Life continues to
benefit from its presence across the country with 414 branches and
additional distribution touchpoints through several partnerships. The
partnerships comprise 265 bancassurance partners including NBFCs
(NonBanking Financial Companies), MFIs (Micro Finance Institutions),
SFBs (Small Finance Banks), etc. and 39 partnerships within non-
traditional ecosystems.

3. Top Products:
• HDFC Life Sanchay Plus Plan
• HDFC Life Click 2 Protect Life Plan
• HDFC Life Sampoorn Nivesh Plan
• HDFC Life Youngstar Udaan Plan
• HDFC Life Sanchay Maximiser Plan
 CHAPTER-4
POSITION AND RESPONSIBILITIES
POSITION AND RESPONSIBILTY IN INTERSHIP:
Designation: -

Finance Trainee

Responsibilities: -

• Identify the target Audience

• Analyse their Risk Profile
• Understand their Goals.
• Acquiring Clients
• Select a best Asset Allocation for the client’s portfolio Give a need-based
product.
• Sell the insurance to one clients of Rs 50,000.

LIMITIONS AND CHALLENGES FACED:

1) We used to sell insurance products to friends or relatives circle which was a

small number for selling insurance.

2) Most people have their existing insurance policies through which they didn’t

show the interest in the new products.

3) Most of them have their life insurance policies with the competitors, so it was
a tough situation to convince them or had a talk with them regarding our
company policies.

4) The company doesn’t have less premium insurance products because of that

rejection was constant from the clients.

5.) If the clients are ready to buy the products with monthly or quarterly basis
payment but company accept only the lump-sum payment method because of
that most of the clients get step back from buying the insurance policies.
 CHAPTER-5
WEEKLY ACTIVITY REPORTS
No Week Objective Weekly Lessons Learnt
1 08/05/2023 Learning of  Learned about basic financial term.
To financial term
 We learned that advantages and disadvantages of
14/05/2023
Liberalizations, Privatization, & Globalisation.
2 15/05/2023 Training on  We learned about the Debt market and types of
To Debt Market &
bonds, risk factors.
20/05/2023 Equity Market
 we learned about the equity market with some
examples.
 company teaches us about types of insurances
and benefit of every insurance.
3 22/05/2023 Training on  We learned about the objectives of IPO, process
To Participants,
of IPO, Participants of IPO, and types of
27/05/2023 IPO's,
objectives of investors in market.
IPO, types of
 We also learned all about the insurance and why
investors
it is necessary for everyone to have an insurance.
4 29/05/2023 Learning of  Had to get learn technical analysis in trading and
To technical
also get to learn candle sticks.We also learn
03/06/2023 analysis
various types of indicators.
5 05/06/2023 Derivatives  Every day After 3:30 pm, Check the India VIX
To
price and note it down the on the notebook from
10/06/2023
1st June to 30th June and check the Spot price,
Strike price & Premium price of the call options
of NIFTY and 2 Stocks also and note it down.
 Every day we must check the price of NIFTY
INDEX & BANKNIFTY also percentage change
in price and why the prices are fluctuates.
 Check out the Top 5 Nifty gainers and Top 5
losers and write down prices, change in prices
and percentage change in price.


6 12/06/2023 Options  Learning about 12-13 call and put options

To Strategies
strategies from NSE website and apply them in
17/06/2023
 opstra software and analyse them to see the
profit and loss.
 Learning about the Out of the Money, In the
Money and At the Money with high and low
volatility risk.


7 19/06/2023 To understand  Learn and understand what is underwriting and

To about the
why is so important.
24/06/2023 Underwriting
 Learn what are the 4C's of Underwriting
 Types of Personal loan
 what is RIBOR and explanation of each function
of RIBOR
 why Banking is very important function in
RIBOR
8 26/06/2023 Equity Research  Equity Research
To
 Types of Equity Research
01/07/2023
9 03/07/2023 Equity Research  Top- Down Approach
To
 Bottom-Up Approach
08/07/2023
 Global and Economy Analysis
 CHAPTER-6
LARNING OF LESSONS AND SKILLS DURING
INTERNSHIP
LEARNING OF LESSONS AND SKILLS DURING INTERNSHIP

 Risk Management
 Investment Strategies
 Market Research
 Selling and negotiations skill
 Team Collaboration
 Adaptability and Problem-Solving
 Networking
 Budgeting And Forecasting
 Equity analysis
 Investing Banking
CHAPTER-7
CONCLUSION
 CONCLUSION

The two months of the Summer Internship helps me to gain practical experience
in the corporate world. In the Internship, I have learned how to pitch the clients
and convey them to purchase the insurance in a short period. It helped me to
build self-confidence and Communication skills while dealing with clients. The
Internship helped me to collect primary data on the clients and determine the
risk-bearing capacity of the individual investors. It also taught me the sales
profile of the Insurance sector and about the company margins. I increased my
communication skills and interpersonal skills. In this we also learn many thing
related to trading and equity market. We also get to learn about the IPO process.
The factor related to equity market. This 2 months helps to learn more
knowledge of finance related basic words. The learning technical analysis and
fundamental analysis also help me in stock market and to build some portfolio.
 CHAPTER-8
INTRODUCTION OF FRANKLIN INDIA FUND
TECHNOLOGY DIRECT GROWTH
 Franklin India Technology Fund Direct Growth

Franklin India Technology Fund Direct -Growth is a Equity mutual fund

scheme from Franklin Templeton Mutual Fund. This scheme was launched on
Invalid date and is currently managed by its fund managers Varun Sharma and
R Janakiraman. It has an AUM of ₹963.53 Crores and the latest NAV decalared
is ₹435.297.
Franklin India Technology Fund Direct -Growth scheme return performance in
last 1 year is 38.99%, in last 3 years is 68.84% and 610.86% since scheme
launch. The min. SIP amount to invest in this scheme is ₹500.

This Fund invests primarily in technology and technology related companies

across market capitalization, in Indian as well as global markets.
The endeavour is to invest in companies that are expected to benefit from the
development, advancement and use of technology.

FUND MANGERS

Varun Sharma & Anand Radhakrishnan

Launch Date: August 22, 1998

Benchmark: S&P BSE TECK INDEX

Sector/ Thematic : The funds has 76.68% investments in demotic equities of

which 16.9% is in large cap stocks 5.93% is in mid cap stocks, 19.25% is small
cap stocks.

Suitable For : Investors who have advanced knowledge of macro trends and
prefer to take selective bets for higher returns compared to other Equity funds.
At the same time, these investors should also be ready for possibility of
moderate to high losses in their investments even though overall market is
performing better.
 SECTORS HOLDING IN FUND

RISK METER

NET ASSET VALUE ₹ 435.2973

FUND SIZE ₹ 963.53 Cr

EXPENSES RATIO 1.32%

 TOP HOLDING

NAME SECTOR INSRUMENT ASSET

Zomato Ltd. Services Equity 9.0%

PB Fintech Ltd. Services Equity 7.8%

Franklin Technology Fund NA Forgn.MF- Equity 7.4%

HCL Technologies Ltd. Technology Equity 4.5%

Zensar Technologies Ltd. Technology Equity 4.5%

Birlasoft Ltd. Technology Equity 4.1%

Tata Consultancy Services Ltd. Technology Equity 3.8%

Tech Mahindra Ltd. Technology Equity 3.5%

Cognizant Technology Solutions Corp. Technology Forgn. Eq 3.5%

CE Info Systems Ltd. Technology Equity 3.4%

 RETURNS (NAV as on 23rd October,2023)

Period ₹10000 Latest Absolute Annualised Category Rank within

Invested for Invested on Value Returns Returns Avg Category

1 Week 16-Oct-23 9628.90 -3.71% - -2.91% 119/141

1 Month 22-Sep-23 9797.90 -2.02% - -1.46% 96/140

3 Month 21-Jul-23 10501.60 5.02% - 2.04% 29/130

6 Month 21-Apr-23 12651.60 26.52% - 17.15% 7/124

YTD 30-Dec-22 12842.90 28.43% - 16.40% 9/121

1 Year 21-Oct-22 13048.00 30.48% 30.29% 19.55% 15/117

2 Year 22-Oct-21 10511.10 5.11% 2.52% 9.20% 91/107

3 Year 23-Oct-20 15917.60 59.18% 16.76% 24.15% 75/94

5 Year 23-Oct-18 24979.40 149.79% 20.08% 17.62% 25/77

10 Year 23-Oct-13 43971.80 339.72% 15.95% 16.56% 38/59

Since
01-Jan-13 63234.00 532.34% 18.60% 14.37% 30/139
Inception
 SIP RETURNS (NAV as on 23rd October,2023)

Period Invested ₹1000 SIP Started Latest Absolute Annualised

Investments
for on Value Returns Returns

1 Year 21-Oct-22 12000 14165.75 18.05 % 34.93 %

2 Year 22-Oct-21 24000 28260.36 17.75 % 16.56 %

3 Year 23-Oct-20 36000 43960.62 22.11 % 13.41 %

5 Year 23-Oct-18 60000 99194.11 65.32 % 20.21 %

10 Year 23-Oct-13 120000 299710.53 149.76 % 17.42 %

BEST QUARTERS
Period This Fund Nifty 50 S&P BSE Teck Category Average

Q2 - 2020 29.49% 24.82% 25.10% 16.67%

Q3 - 2020 25.19% 7.84% 21.87% 9.16%

Q4 - 2020 20.28% 22.46% 19.08% 11.4%

WORST QUARTERS
Period This Fund Nifty 50 S&P BSE Teck Category Average

Q1 - 2020 -15.92% -29.43% -17.33% -16.3%

Q2 - 2022 -17.87% -10.70% -20.37% -0.53%

Q4 - 2018 -10.17% -1.32% -10.40% -12.56%

Franklin India Technology Fund Direct Growth
 CHAPTER-10
ANALYSIS OF BENCHMARK
 S&P BSE TECH

BSE TECk is a value-weighted sectoral index on the Bombay Stock Exchange

(BSE) which captures the behaviour and performance of the Indian technology
sector. It is a diversified index of 28 stocks from the S&P BSE 500 index that
span the sectors of IT (81.45%), Telecommunications (15.31%), and Media &
publishing (3.25%), as defined by the industry classification system of BSE.

This BSE TECk index was launched on July 11, 2001, with the first value date
as January 31, 2000, and with base value at 1000. Since its inception, the S&P
BSE TECk share price has breached the levels of 13,000 at ~33.14x P/E
multiples. The weighted average carbon intensity of the BSE TECk index
comes to ~29.76.

The S&P BSE TECk index value is calculated based on free-float market
capitalisation weighted value on a real-time basis. It is reconstituted semi-
annually in the months of June and December.

S&P BSE TECk index is managed and governed by S&P BSE Index Committee
set up under Asia Index Private Ltd, which is a joint venture of S&P and BSE
Ltd. The BSE TECk index is calculated in two currencies: INR and USD; for
USD, spot foreign exchange rates are applied from Refinitiv’s data. It has an
index variant: S&P BSE TECk TR.

S&P BSE Tech Sectors

CHART OF BSE TECH
 CHAPTER-11
COMPARISON BETWEEN FUND AND BENCHMARK
COMPARSION BETWEEN FUND AND BENCHMARK

RISK RATIO

High Volatility
STANDARD RATIO
15.63 vs 15.24

Low Volatility
BETA
0.72 vs 0.86

Poor risk adjusted returns

SHARPR RATIO
0.75 vs 0.92

Poor risk adjusted returns

TREYNOR RATIO
0.16 vs 0.16

JENSION RATIO Better risk adjusted returns

 5.95 vs 3.3

Standard Deviation:
Standard Deviation alue gives an idea about how volatile fund returns has been in the past 3
years. Lower value indicates more predictable performance. So if you are comparing 2 funds
(lets say Fund A and Fund B) in the same category. If Fund A and Fund B has given 9%
returns in last 3 years, but Fund A standard deviation value is lower than Fund B. So you can
say that there is a higher chance that Fund A will continue giving similar returns in future
also whereas Fund B returns may vary.

Beta value:
Beta value gives idea about how volatile fund performance has been compared
to similar funds in the market. Lower beta implies the fund gives more
predictable performance compared to similar funds in the market. So if you are
comparing 2 funds (lets say Fund A and Fund B) in the same category. If Fund
A and Fund B has given 9% returns in last 3 years, but Fund A beta value is
lower than Fund B. So you can say that there is a higher chance that Fund A
will continue giving similar returns in future also whereas Fund B returns may
vary.
 Sharpe ratio
Sharpe ratio indicates how much risk was taken to generate the returns. Higher
the value means, fund has been able to give better returns for the amount of risk
taken. . It is calculated by subtracting the risk-free return, defined as an Indian
Government Bond, from the fund’s returns, and then dividing by the standard
deviation of returns. For example, if fund A and fund B both have 3-year returns
of 15%, and fund A has a Sharpe ratio of 1.40 and fund B has a Sharpe ratio of
1.25, you can chooses fund A, as it has given higher risk-adjusted return.

Treynor’s ratio

Treynor’s ratio indicates how much excess return was generated for each unit of
risk taken. Higher the value means, fund has been able to give better returns for
the amount of risk taken. It is calculated by subtracting the risk-free return,
defined as an Indian Government Bond, from the fund’s returns, and then
dividing by the beta of returns. For example, if fund A and fund B both have 3-
year returns of 15%, and fund A has a Treynor’s ratio of 1.40 and fund B has a
Treynor’s ratio of 1.25, then you can chooses fund A, as it has given higher
risk-adjusted return.

Alpha indicates

Alpha indicates how fund generated additional returns compared to a

benchmark. . Let’s say if a fund A benchmarks its returns with Nifty50 returns
then alpha equal to 1.0 indicates the fund has beaten the nifty returns by 1%, so
the higher the alpha, the better.
CHAPTER-12
CONCLUSION
 CONCLUSION

The conclusion of the study that the franklin India technology funds have displayed
potential market and performed much better than the BSE Tech. It is the important
that the investors do not make a rash decision simply by looking at the figures
generated by the individual fund, they should compare fund based on the risk and
return analysis and find out with fund is better for them.
After comparing the performance of funds and sectors in 1 year, it is evident that
Franklin India Technology Fund - Direct-Growth has outperformed from BSE Tech
in the market.
Over the past 5 years the data analysis reveals that Franklin India Technology Fund
- Direct-Growth has performed well, delivering higher return compared BSE tech.
 BIBLIOGRAPHY

https://www.valueresearchonline.com/funds/16018/franklin-india-technology-
fund-direct-plan/#overview

https://groww.in/mutual-funds/franklin-infotech-fund-direct-growth

https://www.moneycontrol.com/mutual-funds/nav/franklin-india-technology-
fund-direct-growth/MTE309
https://www.franklintempletonindia.com/fund-details/fund-
portfolio/4617/franklin-india-technology-fund