Mahatma Gandhi Mission’s

Institute of Management Studies & Research

MGM Educational Campus, Sector 1, Kamothe – 410209

PROJECT REPORT

ON

“DISTRIBUTION OF MUTUAL FUND THROUGH

FINWISELY FINTECH SERVICES PVT.LTD”

SUBMITTED TO

MGM’S INSTITUTE OF MANAGEMENT STUDIES & RESEARCH,

NAVI MUMBAI

BY

ANIKET ANIL MOHITE

Roll No.19

2018-2020

IN PARTIAL FULFILLMENT OF

MASTER OF MANAGEMENT STUDIES (MMS), UNIVERSITY OF MUMBAI

AUGUST 2019

1
 TABLE OF CONTENTS

Chapter No. Title Page No.

Declaration from student 3
Certificate from Company/Organisation 4

Certificate from Guide 5

Acknowledgement 6
List of Tables 7
List of Charts 8
Executive Summary 9
I Introduction 10
1.1 Background of the study 11
1.2 Background of the topic 12-29
1.3 Company profile 30-31
1.4 Statement of the problem 32
1.6 Need of the study 33
1.5 Scope of the study 34
1.6 Objectives of the study 35
II Research Methodology 36
2.1 Research design 37
2.2 Primary data 38
2.2 Secondary data 38
2.3 Sample design 38
2.3.1 Population 38
2.3.2 Sample size 38
2.3.3 Sampling method 39
2.4 Method of data collection 39
2.4.2 Instrument for data collection 39
2.7 Limitations 40
Data Processing and Analysis 41-51
III
IV Findings 52
V Recommendations 54
VI Conclusion 56

Bibliography 58
Appendices /Annexure
A Questionnaire/ (s), if any 59-60

2
3
 DECLARATION

I, Mr. Aniket Anil Mohite hereby declare that this project report is the record of
authentic work carried out by me during the period from 2nd May 2019 to 29th June 2019
and has not been submitted to any other University or Institute for the award of any
degree / diploma etc.

Signature

Name of the student: Aniket Anil Mohite

Date

4
 CERTIFICATE FROM THE COMPANY/ORGANISATION

(On the letterhead of the Company/ Organisation, given and signed by the
concerned authority in the Company / Organisation where student has done
the Summer Training. It should also have Company/ Organisation Seal
/Stamp.)

5
 CERTIFICATE

This is to certify that Mr. Aniket Anil Mohite of MGM’s Institute of Management Studies &

Research has successfully completed the project work titled Distribution of mutual fund through

finwisely fintech services pvt.ltd in partial fulfillment of requirement for the completion MMS as

prescribed by the University of Mumbai.

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

from 2nd May 2019 to 29th June 2019.

He has worked under my guidance.

Signature

Name: Dr.Prof.Saloni.desai

Project Guide (Internal)

Date :`

Counter signed by
Signature
Name :Prof. Ashwini Arte
Director

6
7
 ACKNOWLEDGEMENT

I consider it a privilege to express a few words of gratitude and respect to

all who guided and inspired me in successful completion of this project.
I am thankful to Mr. Bijoy Solgama (Business Development Head) Finwisely Fintech
Services pvt.ltd
Forgiving this project to me and giving me an opportunity to work with such an
esteemed organization .
It is my sincere duty to do my best ,so as to be recognized as one
amongst the most successful professional ,which I will always try to bring fame and
laurels to my beloved institution, the MGM Institute of Management Studies & Research .
I also thank in particular our Director Ashwini Arte and my Project Guide
Dr.Prof. Saloni Desai for guiding me in my project. I would also like to thank
all the teaching and all others staff who helped me directly or indirectly in
the successful completion of this project.

8
 List of Tables

Chapter No Title Page No.

1.1 Risk Hierarchy of MF 29

3.1 Kind of investment you 42

prefer

3.2 MF you have invested 47

3.3 MF and its operation 48
3.4 Channel preffered by 48
investor
49
3.5 Investment preffered
50
3.6 Preffered portfolios

3.7 Preference of investor

51

9
 List of Graphs / Charts

Chapter No Title Page No.

1.1 Risk hierarchy of mutual 19

fund

3.1 Investment you prefer 42

3.2 Investing factor 43

3.3 Have you ever invested in 44
Mutual fund

3.4 Know about mutual fund 45

3.5 Feature of mutual fund
46
3.6 Mutual fund company
47
3.7 Channel preffered
48
3.8 Investment preffered
49
3.9 Preferred portfolios
50
3.10 Prefrenece investor
51

10
 EXECUTIVE SUMMARY

Mutual funds pool money from different investors and invest in different investment sources like stocks,
shares, bonds etc. A professional fund manager manages these and returns are paid in form of dividends.
Some schemes assured fixed returns that are less in risk and some offer dividends based on the market
fluctuations and prices. Mutual funds have to be subscribed in units and the purchase or sale is dependent on
NAV (Net Asset Value), taking into consideration the exit and entry load factors into account.
This project undertaken deals with customer perception with regard to mutual funds that is the schemes they
prefer, the plans they are opting, the reasons behind such selections and also this project dealt with different
investment options, which people prefer along with and apart from mutual funds. Like postal saving
schemes, recurring deposits, bonds, and shares. The findings from this project is that most of the people are
hesitant in going for new age investments like mutual funds and prefer to avert risks by investing in less
riskier investment options like recurring deposits and so. Also people going for investment in mutual funds
are not going for high-risk portfolios and schemes but want to go for medium risk elements. And another
finding is that most of the workingwomen does not prefer this type of investments.

11
12
 CHAPTER:1
INTRODUCTION

BACKGROUND OF THE STUDY

Mutual funds performance is one of the most commonly studied topics in investments area in the majority
countries. This is because the availability of data and importance of mutual funds as vehicle for investment in
the stock market. Mutual funds provide many benefits to their investors. Such benefits are as follow. They
reduce the risk of investing in the stock market by diversification, mutual funds provide such as record
keeping, providing market updates, suggestions on investment opportunities and so on. They provide
professional management by experts in the stock market. Mutual funds also reduce transaction costs for
investors in the sense that the only performance that investors need to see is of the fund and not the stocks or
the assets held by the fund and can easily make decisions on that basis. By pooling of investment funds, they
allow small investors to hold a diversified portfolio. The fund portfolio is also professionally managed and

13
monitored by professionals in the market who have both experience and information for profitable security
selection.

BACKGROUND OF THE TOPIC

14
A mutual fund is a professionally-managed investment scheme, usually run by an asset management
company that brings together a group of people and invests their money in stocks, bonds and other
securities. The income earned through these investments and the capital appreciations realized are shared by
its unit holders in proportion to the number of units owned by them.
Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest
in a diversified, -professionally managed basket of securities at a relatively low cost.
Mutual Funds are trusts, which accept savings from investors and invest the same in diversified financial
instruments in terms of objectives set out in the trusts deed with the view to reduce the risk and maximize
the income and capital appreciation for distribution for the members.
The objective sought to be achieved by Mutual Fund is to provide an opportunity for lower income groups
to acquire without much difficulty financial assets. They serve mainly to the needs of the individual investor
whose means are small and to manage investors portfolio in a manner that provides a regular income,
growth, safety, liquidity and diversification opportunities.
Mutual fund really captures the public’s attention in the 1980s and 90s when mutual fund investment hit the
record highs and investors saw incredible returns.
In INDIA it was first introduced in 1963, when the Government of India launched Unit Trust of India (UTI).
UTI enjoyed a monopoly in the Indian mutual fund market until 1987, when a host of other government-
controlled Indian financial companies established their own funds, including State Bank of India, Canara
Bank, & Punjab National Bank.
In 1996 SEBI , the regulator of mutual funds in India, formulated the mutual fund regulation which is
comprehensive regulatory framework.

History of Mutual Fund in India:

15
The mutual fund industry in India started in 1963 with the formation of Unit Trust of India, at the initiative
of the Government of India and Reserve Bank the. The history of mutual funds in India can be broadly
divided into four distinct phases

First Phase – 1964-87

Unit Trust of India (UTI) was established on 1963 by an Act of Parliament. It was set up by the Reserve Bank
of India and functioned under the Regulatory and administrative control of the Reserve Bank of India. In 1978
UTI was de-linked from the RBI and the Industrial Development Bank of India (IDBI) took over the regulatory
and administrative control in place of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the
end of 1988 UTI had Rs.6,700 crores of assets under management

Second Phase – 1987-1993 (Entry of Public Sector Funds)

1987 marked the entry of non- UTI, public sector mutual funds set up by public sector banks and Life
Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC). SBI Mutual Fund
was the first non- UTI Mutual Fund established in June 1987 followed by Canbank Mutual Fund (Dec 87),
Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun90),
Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June 1989 while GIC had set up its
mutual fund in December 1990.
At the end of 1993, the mutual fund industry had assets under management of Rs.47,004 crores.

Third Phase – 1993-2003 (Entry of Private Sector Funds)

With the entry of private sector funds in 1993, a new era started in the Indian mutual fund industry, giving the
Indian investors a wider choice of fund families. Also, 1993 was the year in which the first Mutual Fund
Regulations came into being, under which all mutual funds, except UTI were to be registered and governed.
The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund
registered in July 1993.
The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive And revised Mutual
Fund Regulations in 1996. The industry now functions under the SEBI (Mutual Fund) Regulations 1996.
The number of mutual fund houses went on increasing, with many foreign mutual funds setting up funds in
India and also the industry has witnessed several mergers and acquisitions. As at the end of January 2003,
there were 33 mutual funds with total assets of Rs. 1,21,805 crores. The Unit Trust of India with Rs.44,541
crores of assets under management was way ahead of other mutual funds.

16
Fourth Phase – since February 2003
In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated into two
separate entities. One is the Specified Undertaking of the Unit Trust of India with assets under
management of Rs.29,835 crores as at the end of January 2003, representing broadly, the assets of US 64
scheme, assured return and certain other schemes. The Specified Undertaking of Unit Trust of India,
functioning under an administrator and under the rules framed by Government of India and does not come
under the purview of the Mutual Fund Regulations.
The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is registered with SEBI
and functions under the Mutual Fund Regulations. With the bifurcation of the erstwhile UTI which had in
March 2000 more than Rs.76,000 crores of assets under management and with the setting up of a UTI
Mutual Fund, conforming to the SEBI Mutual Fund Regulations, and with recent mergers taking place
among
different private sector funds, the mutual fund industry has entered its current phase of consolidation and
growth. As at the end of March, 2006, there were 29 funds.

Future Scenario

The asset base will continue to grow at an annual rate of about 30 to 35 % over the next few years as investor’s
shift their assets from banks and other traditional avenues. Some of the older public and private sector players
will either close shop or be taken over. Out of ten public sector players five will sell out, close down or merge
with stronger players in three to four years. In the private sector this trend has already Started with two mergers
and one takeover. Here too some of them will down their shutters in the near future to come.

But this does not mean there is no room for other players. The market will witness a flurry of new players
entering the arena. There will be a large number of offers from various asset management companies in the
time to come. Some big names like Fidelity, Principal, Old Mutual etc. are looking at Indian market seriously.
One important reason for it is that most major players already have presence here and hence these big names
would hardly like to get left behind.
The mutual fund industry is awaiting the introduction of derivatives in India as this would enable it to hedge
its risk and this in turn would be reflected in its Net Asset Value (NAV). SEBI is working out the norms for
enabling the existing mutual fund schemes to trade in derivatives. Importantly, many market players have
called on the Regulator to initiate the process immediately, so that the mutual funds can implement the changes
that are required to trade in Derivatives.

Recent trends in mutual fund industry

The most important trend in the mutual fund industry is the aggressive
17
expansion of the foreign owned mutual fund companies and the decline of the companies floated by
nationalized banks and smaller private sector
players. Many nationalized banks got into the mutual fund business in the early nineties and got off to a good
start due to the stock market boom prevailing then. These banks did not really understand the mutual fund
business and they just viewed it as another kind of banking activity.
Few hired specialized staff and generally chose to transfer staff from the parent organizations.
The performance of most of the schemes floated by these funds was not good. Some schemes had offered
guaranteed returns and their parent organizations had to bail out these AMCs by paying large amounts of
money as the difference between the guaranteed and actual returns. The service levels were also very bad.
Most of these AMCs have not been able to retain staff, float new schemes etc. and it is doubtful whether,
barring a few exceptions, they have serious plans of continuing the activity in a major way. The experience of
some of the AMCs floated by private sector Indian companies was also very similar. They quickly realized
that the AMC business is a business, which makes money in the long term and requires deep-pocketed support
in the intermediate years. Some have sold out to foreign owned companies, some have merged with others
and there is general restructuring going on.
The foreign owned companies have deep pockets and have come in here with the expectation of a long haul.
They can be credited with introducing many new practices such as new product innovation, sharp
improvement in service standards and disclosure, usage of technology, broker education and support etc. In
fact, they have forced the industry to upgrade itself and service levels of organizations like UTI have improved
dramatically in the last few years in response to the competition provided by these.

Types of Mutual Funds

18
Mutual fund schemes may be classified on the basis of its structure and its investment objective.

By Structure:

Open-ended Funds
An open-end fund is one that is available for subscription all through the year. These do not have a fixed
maturity. Investors can conveniently buy and sell units at Net Asset Value ("NAV") related prices. The key
feature of open-end schemes is liquidity.

Closed-ended Funds
A closed-end fund has a stipulated maturity period which generally ranging from 3 to 15 years. The fund is
open for subscription only during a specified period. Investors can invest in the scheme at the time of the
initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where
they are listed. In order to provide an exit route to the investors, some close-ended funds give an option of
selling back the units to the Mutual Fund through periodic repurchase at NAV related prices.
SEBI Regulations stipulate that at least one of the two exit routes is provided to the investor.

Interval Funds
Interval funds combine the features of open-ended and close-ended schemes. They are open for sale or
redemption during pre-determined intervals at NAV related prices.

19
By Investment Objective:-

Growth Funds
The aim of growth funds is to provide capital appreciation over the medium to long-term. Such schemes
normally invest a majority of their corpus in equities. It has been proven that returns from stocks, have
outperformed most other kind of investments held over the long term. Growth schemes are ideal for
investors having a long-term outlook seeking growth over a period of time.

Income Funds
The aim of income funds is to provide regular and steady income to investors. Such schemes generally
invest in fixed income securities such as bonds, corporate debentures and Government securities. Income
Funds are ideal for capital stability and regular income.

Balanced Funds
The aim of balanced funds is to provide both growth and regular income. Such schemes periodically
distribute a part of their earning and invest both in equities and fixed income securities in the proportion
indicated in their offer documents. In a rising stock market, the NAV of these schemes may not normally
keep pace, or fall equally when the market falls. These are ideal for investors looking for a combination of
income and moderate growth.

Money Market Funds

The aim of money market funds is to provide easy liquidity, preservation of capital and moderate income.
These schemes generally invest in safer short-term instruments such as treasury bills, certificates of deposit,
commercial paper and inter-bank call money. Returns on these schemes may fluctuate depending upon the
interest rates prevailing in the market. These are ideal for Corporate and individual investors as a means to
park.

Load Funds
A Load Fund is one that charges a commission for entry or exit. That is, each time you buy or sell units in
the fund, a commission will be payable. Typically entry and exit loads range from 1% to 2%. It could be
worth paying the load, if the fund has a good performance history.

No-Load Funds
A No-Load Fund is one that does not charge a commission for entry or exit. That is, no commission is
payable on purchase or sale of units in the fund. The advantage of a no load fund is that the entire corpus is
put to work.

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Other Schemes:-

Tax Saving Schemes

These schemes offer tax rebates to the investors under specific provisions of the Indian Income Tax laws as
the Government offers tax incentives for investment in specified avenues. Investments made in Equity
Linked Savings Schemes (ELSS) and Pension Schemes are allowed as deduction u/s 88 of the Income Tax
Act, 1961. The Act also provides opportunities to investors to save capital gains u/s 54EA and 54EB by
investing in Mutual Funds, provided the capital asset has been sold prior to April 1, 2000 and the amount is
invested before September 30, 2000

Special Schemes:-

Industry Specific Schemes

Industry Specific Schemes invest only in the industries specified in the offer document. The investment of
these funds is limited to specific industries like InfoTech, FMCG, and Pharmaceuticals etc.

Index Schemes
Index Funds attempt to replicate the performance of a particular index such as the BSE Sensex or the NSE
50

Sectoral Schemes
Sectoral Funds are those, which invest exclusively in a specified industry or a group of industries or
various segments such as 'A' Group shares or initial public offerings.

Commodities Funds
Commodities funds specialize in investing in different commodities directly or through commodities future
contracts. Specialized funds may invest in a single commodity or a commodity group such as edible oil or
rains, while diversified commodity funds will spread their assets over many commodities

21
Chart:1. RISK HIERARCHY OF MUTUAL FUNDS

22
 TABLE 1.1: RISK HIERARCHY OF MUTUAL FUNDS

Mutual Fund Objective Risk Investment Who should Investment

Type Portfolio invest horizon
Liquidity + Treasury Bills, Those who
Moderate Certificate of park their
Money Income + Negligible Deposits, funds in 2 days - 3
Market Reservation of Commercial current weeks
Capital Papers, Call accounts or
Money short-term
bank
deposits
Call Money,
Short-term Liquidity + Little Commercial Those with
funds Moderate Interest Rate Papers, Treasury surplus 3 weeks -
(Floating-short- Income Bills, CDs, short-term 3 months
terms) Short-term funds
Government
securities.
Predominantly
Bond Regular Credit Risk Debentures, Salaried & More than 9 -
Funds Income & Interest Government conservative 12
(Floating-short- Rate Risk securities, investors months
terms) Corporate
Bonds

Gilt Security & Interest Rate Government Salaried & 12 months &
Funds Income Risk securities conservative more
investors
Long-term Aggressive
Equity Capital High Risk Stocks investors 3 years plus
Funds Appreciation with long
term out
look.
To generate Portfolio
Index returns that are NAV varies indices like Aggressive 3 years plus
Funds commensurate with index BSE, NIFTY investors.
with returns of performance etc
respective
indices
Growth & Capital Balanced ratio
Balanced Regular Market Risk of equity and Moderate & 2 years plus
Funds Income and Interest debt funds to Aggressive
Rate Risk ensure higher
returns at
lower risk

23
Benefits of Mutual Fund investment

1. Professional Management:
Mutual Funds provide the services of experienced and skilled professionals, backed by a dedicated
investment research team that analyses the performance and prospects of companies and selects suitable
investments to achieve the objectives of the scheme.

2. Diversification:
Mutual Funds invest in a number of companies across a broad cross-section of industries and sectors. This
diversification reduces the risk because seldom do all stocks decline at the same time and in the same
proportion. You achieve this diversification through a Mutual Fund with far less money than you can do on
your own.

3. Convenient Administration:
Investing in a Mutual Fund reduces paperwork and helps you avoid many problems such as bad deliveries,
delayed payments and follow up with brokers andcompanies. Mutual Funds save your time and make
investing easy and convenient.

4. Return Potential:
Over a medium to long-term, Mutual Funds have the potential to provide a higher return as they invest in a
diversified basket of selected securities.

5. Low Costs:
Mutual Funds are a relatively less expensive way to invest compared to directly investing in the capital
markets because the benefits of scale in brokerage, custodial and other fees translate into lower costs for
investors.

6. Liquidity:
In open-end schemes, the investor gets the money back promptly at net asset value related prices from the
Mutual Fund. In closed-end schemes, the units can be sold on a stock exchange at the prevailing market
price or the investor can avail of the facility of direct repurchase at NAV related prices by the Mutual Fund.

7. Transparency:
Investors get regular information on the value of your investment in addition to disclosure on the specific
investments made by the scheme, the proportion invested in each class of assets and the fund manager's
investment strategy and outlook.

8. Flexibility:

24
Through features such as regular investment plans, regular withdrawal plans and dividend reinvestment
plans, one can systematically invest or withdraw funds according to your needs and convenience.

9. Affordability:
Investors individually may lack sufficient funds to invest in high-grade stocks. A mutual fund because of its
large corpus allows even a small investor to take the benefit of its investment strategy

10. Well Regulated:

All Mutual Funds are registered with SEBI and they function within the provisions of strict regulations
designed to protect the interests of investors. The operations of Mutual Funds are regularly monitored by
SEBI.

INDIAN FINANCIAL MARKETS

India Financial market is one of the oldest in the world and is considered to be the growing and best among
all the markets of the emerging economies.
The history of Indian capital markets dates back 200 years toward the end of the 18th century when India
was under the rule of the East India Company. The development of the capital market in India concentrated
around Mumbai where no less than 200 to 250 securities brokers were active during the second half of the
19th century.
The financial market in India today is more developed than many other sectors because it was organized
long before with the securities exchanges of Mumbai, Ahemdabad and Kolkata were established as early as
the 19th century.By the early 1960s the total number of securities exchanges in India rose to eight, including
Mumbai, Ahemdabad and Kolkata apart from Madras, Kanpur, Delhi, Bangalore and Pune. Today there are
21 regional securities exchanges in India in addition to the centralized NSE (National Stock Exchange) and
OTCEI (Over the Counter Exchange of India).
However the stock markets in India remained stagnant due to stringent controls on the market economy that
allowed only a handful of monopolies to dominate their respective sectors. The corporate sector wasn't
allowed into many industry segments, which were dominated by the state controlled public sector resulting
in stagnation of the economy right up to the early 1990s.
Thereafter when the Indian economy began liberalizing and the controls began to be dismantled or eased
out; the securities markets witnessed a flurry of IPO’s that were launched. This resulted in many new
companies across different industry segments to come up with newer products and services. A remarkable
feature of the growth of the Indian economy in recent years has been the role played by its securities markets
in assisting and fuelling that growth with money rose within the economy. This was in marked contrast to
the initial phase of growth in many of the fast growing economies of East Asia that witnessed huge doses of
FDI (Foreign Direct Investment) spurring growth in their initial days of market decontrol. During this phase
in India much of the organized sector has been affected by high growth as the financial markets played an

25
all-inclusive role in sustaining financial resource mobilization. Many PSUs (Public Sector Undertakings)
that decided to offload part of their equity were also helped by the well-organized securities market in India.
The launch of the NSE (National Stock Exchange) and the OTCEI (Over the Counter Exchange of India)
during the mid 1990s by the government of India was meant to usher in an easier and more transparent form
of trading in securities. The NSE was conceived as the market for trading in the securities of companies
from the large-scale sector and the OTCEI for those from the small-scale sector. While the NSE has not just
done well to grow and evolve into the virtual backbone of capital markets in India the OTCEI struggled and
is yet to show any sign of growth and development. The integration of IT into the capital market
infrastructure has been particularly smooth in India due to the country’s world class IT industry. This has
pushed up the operational efficiency of the Indian stock market to global standards and as a result the
country has been able to capitalize on its high growth and attract foreign capital like never before. The
regulating authority for capital markets in India is the SEBI (Securities and Exchange Board of India). SEBI
came into prominence in the 1990s after the capital markets experienced some turbulence. It had to take
drastic measures to plug many loopholes that were exploited by certain market forces to advance their
vested interests. After this initial phase of struggle SEBI has grown in strength as the regulator of India’s
capital markets and as one of the country’s most important institutions.

FINANCIAL MARKET REGULATIONS

Regulations are an absolute necessity in the face of the growing importance of capital markets throughout
the world. The development of a market economy is dependent on the development of the capital market.
The regulation of a capital market involves the regulation of securities; these rules enable the capital market
to function more efficiently and impartially.
A well regulated market has the potential to encourage additional investors to partake, and contribute in,
furthering the development of the economy. The chief capital market regulatory authority is Securities and
Exchange Board of India (SEBI). SEBI is the regulator for the securities market in India. It is the apex body
to develop and regulate the stock market in India It was formed officially by the Government of India in
1992 with SEBI Act 1992 being passed by the Indian Parliament. Chaired by C B Bhave, SEBI is
headquartered in the popular business district of Bandra-Kurla complex in Mumbai, and has Northern,
Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad. In place of
Government Control, a statutory and autonomous regulatory board with defined responsibilities, to cover
both development & regulation of the market, and independent powers has been set up.

The basic objectives of the Board were identified as:

• To protect the interests of investors in securities;
• To promote the development of Securities Market;

26
• To regulate the securities market and
• For matters connected therewith or incidental thereto.

Since its inception SEBI has been working targeting the securities and is attending to the fulfillment of its
objectives with commendable zeal and dexterity. The improvements in the securities markets like
capitalization requirements, margining, establishment of clearing corporations etc. reduced the risk of credit
and also reduced the market.
SEBI has introduced the comprehensive regulatory measures, prescribed registration norms, the eligibility
criteria, the code of obligations and the code of conduct for different intermediaries like, bankers to issue,
merchant bankers, brokers and sub-brokers, registrars, portfolio managers, credit rating agencies,
underwriters and others. It has framed bye-laws, risk identification and risk management systems for
Clearing houses of stock exchanges, surveillance system etc. which has made dealing in securities both safe
and transparent to the end investor.
Another significant event is the approval of trading in stock indices (like S&P CNX Nifty & Sensex) in
2000.
A market Index is a convenient and effective product because of the following reasons:
• It acts as a barometer for market behavior;
• It is used to benchmark portfolio performance;
• It is used in derivative instruments like index futures and index options;
• It can be used for passive fund management as in case of Index Funds.

Two broad approaches of SEBI is to integrate the securities market at the national level, and also to diversify
the trading products, so that there is an increase in number of traders including banks, financial institutions,
insurance companies, mutual funds, primary dealers etc. to transact through the Exchanges. In this context
the introduction of derivatives trading through Indian Stock Exchanges permitted by SEBI in 2000 AD is a
real landmark.
SEBI has enjoyed success as a regulator by pushing systemic reforms aggressively and successively (e.g. the
quick movement towards making the markets electronic and paperless rolling settlement on T+2 bases).
SEBI has been active in setting up the regulations as required under law.

27
STOCK EXCHANGES IN INDIA

Stock Exchanges are an organized marketplace, either corporation or mutual organization, where members
of the organization gather to trade company stocks or other securities. The members may act either as agents
for their customers, or as principals for their own accounts.
As per the Securities Contracts Regulation Act, 1956 a stock exchange is an association, organization or
body of individuals whether incorporated or not, established for the purpose of assisting, regulating and
controlling business in buying, selling and dealing in securities. Stock exchanges facilitate for the issue and
redemption of securities and other financial instruments including the payment of income and dividends.
The record keeping is central but trade is linked to such physical place because modern markets are
computerized. The trade on an exchange is only by members and stock broker do have a seat on the
exchange.

List of Stock Exchanges in India

Bombay Stock Exchange
National Stock Exchange
OTC Exchange of India

Regional Stock Exchanges

1. Ahmedabad 11. Ludhiana
2. Bangalore 12. Madhya Pradesh
3. Bhubaneswar 13. Madras
4. Calcutta 14. Magadh
5. Cochin 15. Mangalore
6. Coimbatore 16. Meerut
7. Delhi 17. Pune
8. Guwahati 18. Saurashtra Kutch
9. Hyderabad 19. Uttar Pradesh
10. Jaipur 20. Vadodara

28
 BOMBAY STOCK EXCHANGE

A very common name for all traders in the stock market, BSE, stands for Bombay Stock Exchange. It is the
oldest market not only in the country, but also in Asia. In the early days, BSE was known as "The Native
Share & Stock Brokers Association." It was established in the year 1875 and became the first stock
exchange in the country to be recognized by the government. In 1956, BSE obtained a permanent
recognition from the Government of India under the Securities Contracts (Regulation) Act, 1956.
In the past and even now, it plays a pivotal role in the development of the country's capital market. This is
recognized worldwide and its index, SENSEX, is also tracked worldwide. Earlier it was an Association of
Persons (AOP), but now it is a demutualised and corporatised entity incorporated under the provisions of the
Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualization) Scheme, 2005 notified by
the Securities and Exchange Board of India (SEBI).

BSE Vision
The vision of the Bombay Stock Exchange is to "Emerge as the premier Indian stock exchange by
establishing global benchmarks."

BSE Management
Bombay Stock Exchange is managed professionally by Board of Directors. It comprises of eminent
professionals, representatives of Trading Members and the Managing Director. The Board is an inclusive
one and is shaped to benefit from the market intermediaries participation.
The Board exercises complete control and formulates larger policy issues. The day- to-day operations of
BSE are managed by the Managing Director and its school of professional as a management team.

BSE Network
The Exchange reaches physically to 417 cities and towns in the country. The framework of it has been
designed to safeguard market integrity and to operate with transparency. It provides an efficient market for
the trading in equity, debt instruments and derivatives. Its online trading system, popularly known as BOLT,
is a proprietary system and it is BS 7799-2-2002 certified. The BOLT network was expanded, nationwide, in
1997. The surveillance and clearing & settlement functions of the Exchange are ISO 9001:2000 certified.

29
BSE Facts
BSE as a brand is synonymous with capital markets in India. The BSE SENSEX is the benchmark equity
index that reflects the robustness of the economy and finance.
It was the –
• First in India to introduce Equity Derivatives
• First in India to launch a Free Float Index
• First in India to launch US$ version of BSE Sensex
• First in India to launch Exchange Enabled Internet Trading Platform
• First in India to obtain ISO certification for Surveillance, Clearing &
Settlement
• 'BSE On-Line Trading System’ (BOLT) has been awarded the globally
recognized the Information Security Management System standard
BS7799-2:2002.
• First to have an exclusive facility for financial training
• Moved from Open Outcry to Electronic Trading within just 50 days

BSE with its long history of capital market development is fully geared to continue its contributions to
further the growth of the securities markets of the country, thus helping India increases its sphere of
influence in international financial markets.

30
 NATIONAL STOCK EXCHANGE OF INDIA LIMITED

The National Stock Exchange of India Limited has genesis in the report of the High Powered Study Group
on Establishment of New Stock Exchanges, which recommended promotion of a National Stock Exchange
by financial institutions (FI’s) to provide access to investors from all across the country on an equal footing.
Based on the recommendations, NSE was promoted by leading Financial Institutions at the behest of the
Government of India and was incorporated in November 1992 as a tax- paying company unlike other stock
Exchange in the country.
On its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993,
NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital
Market (Equities) segment commenced operations in November 1994 and operations in Derivatives segment
commenced in June 2000.

NSE GROUP
National Securities Clearing Corporation Ltd. (NSCCL)
It is a wholly owned subsidiary, which was incorporated in August 1995 and commenced clearing
operations in April 1996. It was formed to build confidence in clearing and settlement of securities, to
promote and maintain the short and consistent settlement cycles, to provide a counter-party risk guarantee
and to operate a tight risk containment system.

NSE.IT Ltd.
It is also a wholly owned subsidiary of NSE and is its IT arm. This arm of the NSE is uniquely positioned to
provide products, services and solutions for the securities industry. NSE.IT primarily focuses on in the area
of trading, broker front-end and back-office, clearing and settlement, web-based, insurance, etc. Along with
this, it also provides consultancy and implementation services in Data Warehousing, Business Continuity
Plans, Site Maintenance and Backups, Stratus Mainframe Facility Management, Real Time Market Analysis
& Financial News.

India Index Services & Products Ltd. (IISL)

It is a joint venture between NSE and CRISIL Ltd. to provide a variety of indices and index related services
and products for the Indian Capital markets. It was set up in May 1998. IISL has a consulting and licensing
agreement with the Standard and Poor's (S&P), world's leading provider of investible equity indices, for co-
branding equity indices.

National Securities Depository Ltd. (NSDL)

NSE joined hands with IDBI and UTI to promote dematerialization of securities. This step was taken to
solve problems related to trading in physical securities. It commenced operations in November 1996.

31
NSE Facts
• It uses satellite communication technology to energize participation from
around 400 cities in India.
• NSE can handle up to 1 million trades per day.
• It is one of the largest interactive VSAT based stock exchanges in the world.
• The NSE- network is the largest private wide area network in India and the first extended C- Band VSAT
network in the world.
• Presently more than 9000 users are trading on the real time-online NSE application.
Today, NSE is one of the largest exchanges in the world and still forging ahead. At NSE, we are constantly
working towards creating a more transparent, vibrant and innovative capital market.

32
 FINWISLEY FINTECH SERVICES PVT.LTD

Finwisely is a new age personal finance company that focuses on helping you achieve your financial goals.
Our technology platform gives you access to the best mutual funds from leading Assetam Management
Companies.
They combine their experience of more than 5 decades in the financial services industry with the power of
technology. we can rely on their expertise in personal finance to make your money work harder.
They are passionate about making your money grow. They research on a lot of data that gets refined through
our algorithms. All that you need to do is – choose

Sivaram Maganty(Co-founder & CEO)

A BITS Pilani alumnus with rich experience spanning across 2 decades largely in the BFSI category. Has held
leadership roles in the sales and operations functions across companies like ICICI Prudential Life Insurance, Fino
Paytech and IDBI Federal Life Insurance. Last served as the Chief Digital Officer at IDBI Federal Life. A digital
enthusiast and a life long learner of new age technology.

33
PRODUCTS & SERVICES

Insurance:
An entry into this segment helped complete the client's product basket; concurrently, it graduated the Company
into a one stop retail financial solutions provider. To ensure maximum reach to customers across India, it has
employed a multi pronged approach and reaches out to customers via our Network, Direct and Affiliate
channels. India Infoline was the first corporate in India to get the agency license in early 2001.

Invest Online:
India Infoline has made investing in Mutual funds and primary market so effortless. Only registration is
needed. No paperwork no queues and No registration charges. India Infoline offers a host of mutual fund
choices under one roof, backed by in-depth research and advice from research house and tools configured as
investor friendly.

Wealth Management:
The key to achieving a successful Investment Portfolio is to have a carefully planned financial strategy based
on a thorough understanding of the client's investment needs and risk appetite. The IIFL Private Wealth
Management Team of financial experts will recommend an appropriate financial strategy to effectively meet
customer’s investment requirements.

Asset Management:
India Infoline is a leading pan-India mutual fund distribution house associated with leading asset management
companies. It operates primarily in the retail segment leveraging its existing distribution network to reach
prospective clients. It has received the in-principle approval to set up a mutual fund.

Portfolio Management:
IIFL Portfolio Management Service is a product wherein an equity investment portfolio is created to suit the
investment objectives of a client. India Infoline invests the client’s resources into stocks from different sectors,
depending on client’s risk-return profile. This service is particularly advisable for investors who cannot afford
to give time or don't have that expertise for day-to-day management of their equity portfolio.

34
 STATEMENT OF THE PROBLEM

Mutual funds are the avenues for common investors to reap the benefits of share market performance.
Investing in equity directly by investor is fraught with highest level of risk and uncertainity. Retail investor
do not actively participate in share market but inflation edged investment return demands the exploitation of
the equity market as an investment avenue. Therefore there is a necessity to create awareness of the utility of
investing in mutual funds schemes to enjoy the return which will be inflation adjusted real returns. Therefore
this project is takes on to asses the investor perception of mutual fund investment. This project will evaluate
the financial performance of mutual fund schemes

35
 NEED OF THE STUDY

The study basically made to educate the investors about Mutual Funds. Analyze the various schemes to
highlight the risk and return of diversity of investment that mutual funds offer. Thus, through the study one
would understand how a common man could fruitfully convert a pittance into great penny by wisely
investing into the right scheme according to his risk- taking abilities.
Investment is a serious proposition one has to look into various factors before deciding on the instruments in
which to invest. To save is not enough. One must invest wisely & get maximum returns. One must plan
investment in such a way that his investment objectives are satisfied. A sound investment is one which gives
the investor reasonable returns with a proper profitable management.
This report gives the details about various investment objectives desired by an investor, details about the
concept & working of mutual fund.

36
 SCOPE OF THE STUDY

Now a days, there is a lot of scope for the mutual funds. The Financial managers have to decide whether to
invest in the Shares, bonds, debentures, real estate, gold and other Commodities to get the maximum benefits
for funds. The financial managers should also reduce the risk from the Investments. The scope of the study is
confirmed to the sectoral funds available in Indian mutual fund.

37
 OBJECTIVE

(1) To give a brief idea about the benefits available from Mutual Fund investment.

(2) To give an idea of the types of schemes available.

(3) To discuss about the market trends of Mutual Fund investment.

(4) To study some mutual fund companies and their funds.

(6) To Observe the fund management process of mutual funds.

(7) To Explore the recent developments in the mutual funds in India.

(8) To give an idea about the regulations of mutual funds.

38
 CHAPTER-2
RESEARCH METHODOLOGY

39
 Research Design

1. Benchmark Index: For this study the 50 shares market index S&P CNX NIFTY has been used as the market
index.
2. Period of study: Period of study has been taken as 2 months starting from 1st May 2019 to 30th June 2019.
3. Risk Free Rate of Return: Risk free rate of return refers to that Minimum return on an investment that has
no risk of loosing the investment over which it is earned. For this purpose of this study risk free rate of return
is represented by 91 days Treasury bill.

40
 PRIMARY DATA

The Primary data was collected to measure the customer perception and section behavior towards equity.
The primary data was collected by means of questionnaire and analysis was done on the basis of response
received the customers. The questionnaire has been designed in such a manner that the customer satisfaction
level can be measured and customer can enter his responses easily.

SECONDARY DATA

Secondary data is a type of data that has already been published in books, newspaper, magazines, journals,
online portals etc. There is an abundance of data available in these sources about our research area in
business studies, almost regardless of the nature of the research area.

SAMPLE DESIGN

Data has been presented with the help of bar, graph, pie chart, line graph etc.

POPULATION

The population of 200 has been selected from kamothe area from which 50 responded.

SAMPLE SIZE

50 respondents, Those who are interested to invest in mutual fund. They will be considered adequate
to represent the characteristics of the particular area.

Sampling Method: SURVEY METHOD

41
 Method of data collection
In the present project work the data as been collected from available source that is Secondary data like
websites, Newspapers and magazines & primary data too.Also from survey answers and direct observations.

INSTRUMENT OF DATA COLLECTION

Data collection allows us to collect information that we want to collect about our study objects.

Questionnaire – A questionnaire is a data collection instrument consistent of a series of question and other
prompts for the purpose of gathering information from respondents.

42
 Limitation of Mutual Fund Investment

1. No Control Over Cost:

An Investor in mutual fund has no control over the overall costs of investing. He pays an
investment management fee (which is a percentage of his investments) as long as he remains
invested in fund, whether the fund value is rising or declining.
He also has to pay fund distribution costs, which he would not incur in direct investing.
However this only means that there is a cost to obtain the benefits of mutual fund services.
This cost is often less than the cost of direct investing.

2. No Tailor-Made Portfolios:
Investing through mutual funds means delegation of the decision of portfolio composition to
the fund managers. The very high net worth individuals or large corporate investors may find
this to be a constraint in achieving their objectives. However, most mutual funds help
investors overcome this constraint by offering large no. of schemes within the same fund.

3. Managing A Portfolio Of Funds:

Availability of large no. of funds can actually mean too much choice for the investors. He
may again need advice on how to select a fund to achieve his objectives. AMFI has taken
initiative in this regard by starting a training and certification program for prospective Mutual
Fund Advisors. SEBI has made this certification compulsory for every mutual fund advisor
interested in selling mutual fund.

4. Taxes:
During a typical year, most actively managed mutual funds sell anywhere from 20 to 70
percent of the securities in their portfolios. If your fund makes a profit on its sales, you will
pay taxes on the income you receive, even if you reinvest the money you made.

5. Cost of Churn:
The portfolio of fund does not remain constant. The extent to which the portfolio changes is a
function of the style of the individual fund manager i.e. whether he is a buy and hold type of
manager or one who aggressively churns the fund. It is also dependent on the volatility of the
fund size i.e. whether the fund constantly receives fresh subscriptions and redemptions. Such
portfolio changes have associated costs of brokerage, custody fees etc. which lowers the
portfolio return commensurately.

43
 CHAPTER 3

DATA ANALYSIS & INTERPRETATIONS

44
 ANALYSIS & INTERPRETATION OF DATA

1) What kind of investment do you prefer most?

Table no:-3.1

Saving account Mutual fund Insurance Fixed deposit

Post office Shares/Debentures Gold/silver Real Estate

Saving account Mutual fund Insurance FD Post office shares Gold Real estate

60

50 50
50

40
40

30
30

20
20
15

10 6
5

0
Investment

Graph no: 3.1

Interpretation:
According to the above graph out of 50 investors of kamothe area
 50% invest in saving account
 20% in mutual fund
 50% in insurance
 30% in FD
 15% in Post office
 5% in shares
 40% gold
 6% in real estate

45
2) While investing which factor you prefer most?
Liquidity Low Risk High Return Company Reputation

Liquidity Low risk High returnCompany reputation Company reputation

60

50 50
50

40
32
30
25

20

10

0
Investment

Graph no: 3.2

Interpretation:
According to the above graph out of 50 investors of Kamothe area.
 32% prefer liquidity
 50% prefer low risk
 50% prefer high return
 25% prefer in company reputation

46
3) Have you ever invested money in Mutual funds?
Yes No

Yes No

45
40
40

35

30

25

20

15
10
10

0
Investment

Graph no: 3.3

Interpretation:
According to the above graph out of 50 investors.

 40% invested in mutual fund

 10% invested in mutual fund

47
4) How do you come to know about mutual fund?
Advertisement Peer Group Banks Financial Advisors

Mutual fund

10

30

50 10

Advertisement Peer group Banks Financial advisors

Graph no: 3.4

Interpretation:
 50% come to know by banks
 30% come to know by Advertisement
 10% come to know by Financial advisor
 10% come to know by peer group

48
5) Which feature of the mutual fund allure you the most?
Diversification Better return & Regular Income Reduction in risk &
safety transaction cost

Mutual fund

10

30

50

30

Diversification Better return Regular income Reduction in risk

Graph no: 3.5

Interpretation:
 50% gets allure by regular income
 30% by better return
 30% by diversification
 10% by reduction in risk

49
6) In which mutual fund you have invested?
Table no:-3.2

IIFL UTI ICICI HDFC

BIRLA RELIANCE INDIABULLS JM

IIFL UTI ICICI HDFC BIRLA RELIANCE INDIABULLS JM

40
35
35

30

25
20
20
16
15
15

10
7
6 6
5
5

0
Investment

Graph no: 3.6

Interpretation:
Investor has lot of trust towards HDFC which is 35% because of its low risk and high returns

50
7) Awareness about mutual fund and its operation?
Table no:-3.3
Response YES NO
No of respondents 22 28

Interpretation:
From above it is seen that 22 people are aware of mutual funds and its operation.

8) Channel preferred by the investor for Mutual fund investment?

Table no:-3.4
Channel Financial Advisors Bank AMC
No. of Response 72 18 20

Mutual fund

10
15

30

Financial advisor Bank AMC

Graph no: 3.7

Interpretation:
 15 no of people preferred to invest through financial advisors
 10 no of people through AMC
 30 no of people through Bank

51
9) Mode of investment preferred by the investor?
Table no:-3.5
Mode of investment One time investment SIP
No. of respondents 78 42

Mutual fund

10

40

one time investment SIP

Graph no: 3.8

Interpretation:
10 no of people prefer one time investment and 40 no of people prefer throup SIP (Systematic
Investment Plan.)

52
10) Preferred portfolios by the investor
Table no:-3.6
Portfolio No. of investors
Equity 45
Debt 15
Balanced 10

Mutual fund

10

15

45

Equity Debt Balanced

Graph no: 3.9

Interpretation:
From the above graph 45 no of people prefer equity, 10 no of people prefer balance and 10 no
of people prefer debt portfolio.

53
11) Preference of investors whether to invest in Sectoral funds?
Table no:-3.7
Response NO. of respondents
Yes 18
No 32

Mutual fund

18

32

Yes No

Graph no: 3.10

Interpretation:
18 no of people are not interested in investing in sectoral funds because there is maximum risk.

54
Chapter 4
FINDINGS

55
 Findings

 According to the above graph out of 50 investors of kamothe area most of them invest
in saving account, insurance,Mutual fund , fixed deposit, gold/silver, real estate because
the rate of return is very high in this investments.
 According to the above graph out of 50 investors of Kamothe area, All of them goes
with the factors like liquidity, Low Risk, High return, company reputation.
 According to the above graph out of 50 investors ,most of investors only invest in
mutual funds because of its high returns and various schemes.
 Most of investors come to know about mutual fund because of advertisement and by
banks.
 Investors likes to diversify their risk in various funds so they allure diversification
feature the most.
 Investor has lot of trust towards HDFC mutual funds because of its low risk and high
returns
 From above it is seen that 22 people are aware of mutual funds and its operation.
 15 people preferred to invest through financial advisors
10 through AMC
30 through Bank
 10 prefer one time investment and 40 prefer throup SIP (Systematic Investment Plan.)
 From the above graph 45 prefer equity, 10 prefer balance and 10 prefer debt portfolio.
 18 people are not interested in investing in sectoral funds because there is maximum
risk.

56
 Chapter 5
SUGGESTIONS & RECOMMENDATIONS

57
 SUGGESTIONS & RECOMMENDATIONS

 The most vital problem spotted is of ignorance. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convinced. Investors should
be made to realize that ignorance is no longer bliss and what they are losing by not
investing.
 Mutual funds offer a lot of benefits which no other single option could offer. But most
of the people are not even aware of what actually a mutual fund is? They only see it as
just another investment option. So the advisors should try to change their mindsets.
The advisors should target for more and more young investors. Young investors as
well as the people at the height of their career would like to go for advisors due to
lack of expertise and time
 Mutual Fund Company needs to give the training of the individual financial advisors
about the fund/ scheme and its objective, because they are the main source to
influence the investors.
 Before making any investment financial advisors should first enquire about the risk
tolerance of the investors/ customers, their need and time (how long they want to
invest). By considering these three things they can take the customers into
consideration.
 Younger people aged under 35 will be a key new customer group into th future, so
making greater efforts with younger customers who show some interest in investing
should pay off.
 Customers with the graduate level education are easier to sell to and there is a large
untapped market there. To succeed however, advisors must provide sound advice and
high quality.
 Systematic Investments Plan (SIP) is one of the innovative products launched by
Assets Management companies very recently in the industry. SIP is easy for monthly
salaried person as it provides the facility to do the investment in EMI. Though most of
the prospects and potential investors are not aware about the SIP. There is a large
scope for the companies to tap the salaried.

58
 Chapter 6
CONCLUSION

59
 Conclusion

Running a successful Mutual Fund requires complete understanding of the peculiarities of the
Indian Stock Market and also psyche of the small investors.
This study has made an attempt to understand the financial behaviour of Mutual Fund
investors in connection with the preference of Brand (AMC), products & channel etc.
I observed that many of people have fear of Mutual Fund. They think that their money will
not be secure in Mutual Fund. They need the knowledge of Mutual Fund and its related
terms.
Many people do not have invested in Mutual Fund due to lack of awareness although they
have money invest. As the awareness and money is growing the number of Mutual Fund
investor are also growing.

“Brand” plays important role for the investment. People invest in those companies where they
have faith or they are well known with them. There are many AMCs in Mumbai but only
some are performing well due to brand awareness.
Some AMCs are not performing well although some of the schemes of them are giving good
return because of not awareness about brand.
Reliance, ICICI, UTI, IIFL etc. they are well known brand, they are performing well and their
assets Under Management is larger than others whose brand name are not well known like
Principle, Sunderam etc.

Distribution channels are also very important for the investment in Mutual Fund , Financial
Advisors are the most preferred channel for the investment in Mutual Fund. They can change
investors mind from one investment option to others.
Many of investors directly invest their money through AMC because they do not have to pay
entry load. Only those people invest directly who know well about Mutual Fund and its
operations and those have time.

60
 BIBLOGRAPHY

 Newspapers
 Outlook money
 Television channel
 Mutual fund handbook
 www.moneycontrol.com
 www.IIFL.com
 www.AMFINDIA.com
 www.ONLINERESEARCHONLINE
 www.MUTUALFUNDSINDIA.com
 www.finwisley.com

61
ANNEXURE

62
 DEMOGRAPHIC DATA

1. Name:
2. Age:
3. Sex:
4. Location/Address:
5. Qualification:
6. Profession:
7. Whats your monthly income?
a) Below 10,000
b) 10,000-20,000
c) 20,000-40,000
d) 40,000-60,000
a. More than 60,000

63
 QUESTIONAIRE

1) What kind of investment do you prefer most?

Savings account Mutual fund Insurance Fixed deposit
Post office Shares/debenture Gold/ silver Real estate

2) While investing which factor you prefer the most?

Liquidity Low risk High return Company reputation

3) Have you ever invested money in mutual fund?

yes no

4) How do you know about mutual fund?

Advertisement Peer group Banks Financial advisors

5) Which feature of the mutual fund allure you the most?

diversification Better return and Regular income Reduction in risk
safety and transaction cost

6) In which mutual fund you have invested?

IIFL UTI ICICI HDFC
BIRLA RELIANCE INDIABULLS JM

7) Awareness about mutual fund and its operations?

yes no

8) Channel preferred by the investor for mutual fund investment?

Financial advisors Bank AMC

64
9) Mode of investment preferred by the investors?
One time investment SIP

10) Preferred portfolio by the investors

Equity Debt Balanced

11) Preference of investors whether to invest in sectoral funds?

yes no
`

65