A Study on Hdfc Mutual Fund

8/10/2019 A Study on Hdfc Mutual Fund

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DECLARATION

I, Badami Kalpesh D.a student of MBA semester iii, here by declare thatthe project

work presented in this report is my contribution and has been carried out under

superision of DI!"#$%! DR.R.S.SHAH of GIDC RAJJU SHROFF

INSTITUTE OF MANAGEMENT STUDIES.

$he objectie of the trainin& undertaken is to &et speciali'ed knowled&e in the

speciali'ed field, which further sharpen the skill and add practicality in the

speciali'ation. $his work has not been preiously submitted to any other uniersity

for any other e(amination

DA$") * SIGNATURE "#tue$t+

BADAMI KA-"/ D.

-A#") * SIGNATURE "%uie&

D!.!../A/

0


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PREFACE

"(perience is the best teacher.2 $his sayin& is ery well applicable in eeryone3s life.

$herefore as a student of mana&ement it must apply to me also. $hen the 4uestion

arises that from where we can &et this e(perience. %biously we must under&o

practical $rainin&. $o sere this purpose I had under&one two months summer trainin&

at /D5# assets Mana&ement #ompany limited and as an outcome I hae prepared

this project report.

$his project report on mutual fund awareness in retail inestors of /D5# assetsMana&ement #ompany in urat2 is as per syllabus prescribed by 6eer 7armad south

8ujarat 9niersity for MBA students. $his project also deals with arious actiities of

/D5# assets Mana&ement #ompany limited. $he e(perience of this trainin& will be

useful in my future and findin&s of this particular project will be /elpful to take

decision re&ardin& to marketin& and adertisin& of mutual fund schemes $o /D5#

assets Mana&ement #ompany limited.

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ACKNOWLEDGEMENT

5irst of all, I would like to e(press my sincere &ratitude to Mr. !ajan Mehta, Branch

mana&er of /D5# assets Mana&ement #ompany limited, urat branch for allowin&

me for summer trainin& at /D5# assets Mana&ement #ompany limited.

I heartily feel thanks to Mr. -iyush lal, sales e(ecutie who proided me aluable

su&&estions and &uidance at eery sta&e of my summer trainin&.

I would also like to e(press my &ratitude to Mr. !.s.shah, my project mentor and other

faculty members of 8ID# !A;;9 /!%55 !%5" I7$I$9$" %5

MA7A8"M"7$ $9DI", api for &uide me.

I would like to thank followin& persons who help me a lot in my summer trainin&.

Mr. 8aura maheshwari, /D5# assets Mana&ement #ompany limited

Mr. -inkal shah, /D5# assets Mana&ement #ompany limited.

Mr. #hintan patel, /D5# assets Mana&ement #ompany limited.

Mr. !itesh jariwala, /D5# assets Mana&ement #ompany limited.

Mr. 9tkrash &heewala, /D5# bank, -arle point branch

Mr. 7ilesh patel, /D5# bank, -arle point branch.

Mr. Mitesh sampat, /D5# bank, -arle point branch.

I also thank to respondents, who hae been helpful and faithful enou&h to &ie the

re4uired information, which helped my project to be a &reat success, which was the

main and important part of my project. I feel happy indeed and it has &ien me a lot of

pleasure in company.

ast but not the least I would like to e(tent my deep sense of &ratitude to my family,

friends and all whom &uided and helped me durin& my trainin& period.

-lace) * urat. Badami Kalpesh. B.

Date) *

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EXECUTIVESUMMARY

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Executive Summary

$he entire report is an unfor&ettable journey of support, knowled&e, e(perience,

dedication, perfection, and patience. 5or me it is all about to understand a customer

and market of mutual fund industry.

$he report is specially oriented to particular area, thou&h it is representin& the stron&

base of Inestment mana&ement*which coers different inestment aenues, their

handlin& contribution, strate&y, portfolios, and related risk factors. Mutual funds* how

they are formed, history, scenario, types, trends, myths, distribution, adanta&es, and

een disadanta&es of them.

$ips to effectiely sell the mutual funds, to be effectie a&ent, some do3s and don3ts

about mutual funds while inestin&. #ompany details and its pro&ress and its

interpretation base for analysis, conclusion, findin&s, and 4uestionnaire, which helped

a lot in consumer, surey analysis. Asset allocation, accountin&, ta(ation, aluation

and necessary information for &eneratin& base for conclusion. And at last but not the

least the collected data from city and their interpretation.

In short all efforts which was made to make this report e(plains

WORK IS WORSHIP

CONTENTS


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r. 7o. 7ame of $able -a&e 7o.

1 %bjecties of tudy @

0 imitations of study

: "(ecutie summary

? #ompany details 11

About the #ompany 10

ponsors of /D5# Assets Mana&ement

#ompany1:

Mana&ement of /D5# Assets Mana&ement

#ompany1?

%ffices of /D5# assets mana&ement company

limited1>

@ -roduct details 0?

5uture scenario :0

> Industry details ::

Introduction :?

/istory of Mutual 5und Industry :

#ustomers -rofile of mutual fund industry ?=

-ositionin& trate&y of mutual fund industry?1

-romotional $ools "mployed by arious mutual

fund companies?0

5acts About Mutual 5und ?@

Mutual fund ?

Introduction to Mutual 5und ?>

Mutual 5und #ycle ?

1: !esearch >1

-urpose of the !esearch >0

!esearch %bjectie >:1? !esearch Methodolo&y >?

>


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!esearch Desi&n >@

ources of Data >

amplin& -lan >

Data #ollection Method =

1@ Data analysis and findin&s 1

1 5indin&s imitations

0: ist of 8raphs 1=

0? Biblio&raphy 1= cores. May 0==>.+

Sponsors of HDFC Assets Management Company:-

Housing Development Finance Corporation Limited (HDFC)

/D5# was incorporated in 1> as the first speciali'ed Mort&a&e #ompany in India.

/D5# proides financial assistance to indiiduals, corporates and deelopers for the

purchase or construction of residential housin&. It also proides property related

serices e.&. property identification, sales serices and aluation+, trainin& andconsultancy. %f these actiities, housin& finance remains the dominant actiity. /D5#

has a client base of around


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ession in cotland approed this in ;une and tandard ife plc floated on the ondon

tock "(chan&e on 1= ;uly 0==. tandard ife Inestments was launched as an

inestment mana&ement company in 1


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/.$. -arekh Mar&, [email protected] crore.

$he present share holdin& pattern of the /D5# Assets mana&ement company is as

follows)

-articularsH of the paid up share

capital

/D5# @=.1=

tandard ife Inestments

imited?


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In 8ujarat /D5# assets Mana&ement #ompany is located at Ahmadabad,

urat, adodara, !ajkot.

/D5# assets Mana&ement #ompany is workin& from


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O%%ice& o% HDFC ASSETS MANAGEMENT

COM'AN( )IMITED

I76"$%! "!6I#" #"7$!"J

%55I#IA -%I7$ %5 A##"-$A7#" 5%! /D5# M9$9A

597D

!"8I$"!"D

%55I#"

/D5# Mutual 5und * Mumbai

!amon /ouse, :rd 5loor,

/.$ -arekh Mar&, 1, 0nd 5loor,

aphire 4uare, omaji&uda,

/yderabad * @==00.

"mail)sericeshyderabadLhdfcfund.com

/D5# Mutual 5und * 6isakhapatnam

8round 5loor, ai&opal Arcade,

%pp Caltair #lub,

Caltair Main !oad, iripuram,

6isakhapatnam * @:===:.

"mail)sericesi'a&Lhdfcfund.com

Bihar /D5# Mutual 5und * -atna

1?
mailto:[email protected]:[email protected]:[email protected]:[email protected]


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!ani -la'a Apartment,

-atna *!ay #linic+,

"(hibition !oad,

-atna * ====1.

"mail)sericespatnaLhdfcfund.com

7ew Delhi

/D5# Mutual 5und * 7ew Delhi

?th 5loor, Mohan De Bld&., 1:,

$olstoy Mar&, #onnau&ht -lace,

7ew Delhi * 11===1.

"mail)sericesdelhiLhdfcfund.com

8oa

/D5# Mutual 5und * 8oa

A:, 5irst 5loor, Krishna Buildin&,%pp. "ducation Dept,

Behind usheela Buildin&, 8.-. !oad,

-anaji * ?=:==1.

"mail)serices&oaLhdfcfund.com

8ujarat /D5# Mutual 5und * Ahmadabad

0nd 5loor, Me&ha /ouse,

Besides 8ruh /ouse,

Mithakhali i( !oads,

Ahmedabad * :===


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9pper 8round 5loor, 8okulesh,

! # Dutt !oad,

6adodara * :.

"mail)sericesadodaraLhdfcfund.com

;harkhand

/D5# Mutual 5und N ;amshedpur

8ayatri "nclae,

0nd 5loor, OK !oadO,

Bistupur,

;amshedpur * :1==1.

"mail)sericesjamshedpurLhdfcfund.com

Karnataka

/D5# Mutual 5und N Ban&alore

7o.11?, 1st 5loor, -resti&e $owers,


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M1, M0 and M:, Me''anine 5loor,

terlin& Arcade,1@ J :, !ace #ourse !oad,

Indore * ?@0==1.

"mail)sericesindoreLhdfcfund.com

Maharashtra

/D5# Mutual 5und N Mumbai

Mistry Bhaan, 1st 5lr, 100,

Backbay !eclamation,

Dinsha 6achha !oad, #hurch&ate,

Mumbai * ?===0=.

"mail)sericesmumbaiLhdfcfund.com

/D5# Mutual 5und N 7a&pur

1=*11=, hriram hyam $owers,0nd 5loor, 7e(t to 7I$ Buildin&,

Kin&sway, adar,

7a&pur * ??===1.

"mail)sericesna&purLhdfcfund.com

/D5# Mutual 5und N 7ashik

8* 1 and 8*0, Ouyojit /ei&htsO,

%pp. !aji 8andhi Bhaan,

haranpur !oad,

7ashik * ?00==0.

"mail)sericesnashikLhdfcfund.com

/D5# Mutual 5und N -une

/D5# /ouse, 0nd 5loor,

hiaji 7a&ar, 9niersity !oad,

-une * ?11==@.

"mail)sericespuneLhdfcfund.com

%rissa

/D5# Mutual 5und N Bhubaneswar

0nd 5loor, 6inayak @1==1.

"mail)sericesbhubaneshwarLhdfcfund.com

-unjab /D5# Mutual 5und N #handi&arh

1>
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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#% :>@*:>,

8round 5loor, ector :@*B,

#handi&arh * 1==00.

"mail)sericeschandi&arhLhdfcfund.com

/D5# Mutual 5und N udhiana

#% 100,

5ero'e 8andhi Market,

udhiana * 1?1==1.

"mail)sericesludhianaLhdfcfund.com

!ajasthan

/D5# Mutual 5und N ;aipur

Moondhra Bhaan,

: Ajmer !d,;aipur * :=0==1.

"mail)sericesjaipurLhdfcfund.com

/D5# Mutual 5und N ;odhpur

8ulab in&h Buildin&,

11, #hopasani !oad,

;odhpur * :?0==:.

"mail)sericesjodhpurLhdfcfund.com

$amil 7adu

/D5# Mutual 5und N #oimbatore

1:>1A, 8round 5loor,

7adar Buildin& $richy !oad,

#oimbatore * ?1=1.

"mail)sericescoimbatoreLhdfcfund.com

/D5# Mutual 5und N #hennai

I$# #entre, 1st 5loor,

>= Anna alai,

#hennai * ====0.

"mail)sericeschennaiLhdfcfund.com

9ttar -radesh /D5# Mutual 5und N Kanpur

1st 5loor, 1J= D,

Behind BI Main, #iil ines,

Kanpur * 0===1.

"mail)sericeskanpurLhdfcfund.com

1
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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/D5# Mutual 5und N ucknow

? hahnajaf !oad,

ucknow * 00==1.

"mail)sericeslucknowLhdfcfund.com

Cest Ben&al

/D5# Mutual 5und N Kolkata

Menaka "state, 1st 5loor,

: !ed #ross -lace,

Kolkata * >====1.

"mail)sericeskolkataLhdfcfund.com

1


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(Fig no "- office locations of HDFC Assets Management Company)

0=


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PRODUCT

DETAILS

01


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'ro*uct Detai+&

#$%!& 'ALAC#D D#'!

(Fig no - Different !ypes of *roducts)

E'UITY SCHEMES OF HDFC ASSET MANAGEMENT

COMPANY()

1. HDFC Equity Fund:-

I$*e#tme$t Ob+e,ti*e( $he inestment objectie of the cheme

Is to achiee capital appreciation.

I$*e#tme$t O-ti$#) Diidend and 8rowth %ption

N/tu0e 1 S,2eme( ) %pen "nded 8rowth cheme

I$,e-ti$ D/te) * ;anuary =1, 1


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I$*e#tme$t O-ti$#( Diidend and 8rowth %ption


I$,e-ti$ D/te) *eptember 11, 0===

3. HDFC Top 200 fund:-

I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital

appreciation from a portfolio of e4uity and e4uity*linked instruments primarily drawn

from the companies in B" 0== inde(.


4. HDFC mid cp! opportunity fund"-

I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital appreciation from a

portfolio that is substantially constituted of e4uity and e4uity related securities of

small and Mid*#ap companies.


N/tu0e 1 S,2eme() %pen "nded 8rowth cheme

I$,e-ti$ D/te)* May =>, 0==>

#. HDFC cpit$ %ui$d!r fund:-

I$*e#tme$t Ob+e,ti*e( ) $o &enerate lon&*term capital appreciation from a

portfolio that is substantially constituted of e4uity and e4uity related securities of

small and Mid*#ap companies.


N/tu0e 1 S,2eme() %pen "nded 8rowth cheme

I$,e-ti$ D/te)* 5ebruary =1, 1


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+,HDFC premier multicape fund:-

I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to &enerate

capital appreciation in the lon& term throu&h e4uity inestments by inestin& in a

diersified portfolio of Mid #ap and ar&e #ap Qblue chipQ companies.

I$*e#tme$t O-ti$#( Diidend -lan, 8rowth -lan, $he Diidend -lan offers

Diidend -ayout and !einestment 5acility.


I$,e-ti$ D/te) * April =, 0==@

'ALAC#D SCH#M#S F HDFC ASS#! MAA.#M#!CM*A&:-

", HDFC %$nc!d fund: -


capital appreciation alon& with current income from a combined portfolio of e4uity

and e4uity related and debt and money market instruments.


N/tu0e 1 S,2eme( ) %pen "nded balanced fund

I$,e-ti$ D/te( ) eptember 11, 0===

, HDFC prudence fund:-

I$*e#tme$t Ob+e,ti*e( )$he inestment objectie of the cheme is to proide

periodic returns and capital appreciation oer a lon& period of time, from a judicious

mi( of e4uity and debt inestments, with the aim to preentJ minimi'e any capital

erosion


N/tu0e 1 S,2eme( ) %pen "nded balanced fund

I$,e-ti$ D/te( ) 5ebruary =1, 1


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I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the /D5# hort $erm -lan is

to &enerate re&ular income throu&h inestment in debt securities and money market

instruments.

I$*e#tme$t O-ti$#( 8rowth -lan, Diidend -lan. $he Diidend -lan offers


N/tu0e 1 S,2eme() %pen "nded income fund

I$,e-ti$ D/te( ) 5ebruary 0, 0==0

4. HDFC mu$ti yi!$d fund:-


positie returns oer medium time frame with low risk of capital loss oer medium

time frame.

I$*e#tme$t O-ti$#( 8rowth -lan, Diidend -lan. $he Diidend -lan offers


N/tu0e 1 S,2eme( ) %pen "nded income fund

I$,e-ti$ D/te( ) eptember 1>, 0==?

D#'! SCH#M#S F HDFC ASS#! MAA.#M#!CM*A& :-

", HDFC ncome Fund:-

I$*e#tme$t Ob+e,ti*e( )$he primary objectie of the cheme is to optimi'e

returns while maintainin& a balance of safety, yield and li4uidity.


N/tu0e 1 S,2eme( ) %pen "nded Income cheme

I$,e-ti$ D/te( ) eptember 11, 0===

, HDFC ncome Fund: -

0@


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I$*e#tme$t Ob+e,ti*e( )$he inestment objectie of /D5# /i&h Interest 5und

is to &enerate income by inestin& in a ran&e of debt and money market instruments

of arious maturity dates with a iew to ma(imi'in& income while maintainin& the

optimum balance of yield, safety and li4uidity.


N/tu0e 1 S,2eme( ) %pen "nded Income cheme

I$,e-ti$ D/te( ) April 0, 1


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I$*e#tme$t O-ti$#( 8rowth -lan, Euarterly Diidend %ption, Monthly

Diidend %ption. $he Diidend -lan offers Diidend -ayout and !einestment

5acility.

N/tu0e 1 S,2eme( ) An open*ended income scheme. Monthly income is not

assured and is subject to aailability of distributable surplus

I$,e-ti$ D/te( ) December 0, 0==:

2, HDFC Floating 3ate ncome Fund Long !erm *lan:-


re&ular income throu&h inestment in a portfolio comprisin& substantially of floatin&

rate debt J money market instruments, fi(ed rate debt J money market instruments

swapped for floatin& rate returns, and fi(ed rate debt securities and money market

instruments.

I$*e#tme$t O-ti$#(Diidend -lan, 8rowth -lan. $he Diidend -lan offers

!einestment 5acility only

N/tu0e 1 S,2eme( ) An open*ended income scheme.

I$,e-ti$ D/te( ) ;anuary 1, 0==:

0>


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FUTURE

SCENARIO

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FUTURE SCENARIO

$he asset base will continue to &row at an annual rate of about :@ to ?=H

oer the ne(t fie year as inestor3s shift their assets from banks and other traditional

aenues. ome of the older public and priate sector players will either close shop or

be taken oer.

%ut of ten public players fie will sell out, close down or mer&e with stron&er player

in three to four years. In the priate sector this trend has already started with twomer&ers and one take oer. /ere too some of them will down their shutters in the near

future to come.

But this does not mean that there is no room for other players. $he

market will witness a flurry of new players enterin& the areas. $here will be a lar&e

no. of offers from arious asset mana&ement companies in the time to come, some bi&

names like -rinciple, BI, 5idelity, old mutual etc are lookin& at Indian marketseriously. %ne important reason for it is that most major players hae presence here

and hence these bi& names would hardly like to &et left behind.

$he mutual fund industry is awaitin& the introduction of deriaties in India as

this would enable it to hed&e its risk and this in turn would be reflected in its 7et

Asset 6alue 7A6+.

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"BI is workin& out the norms for enablin& the e(istin& mutual fund schemes

to trade in deriaties. Importantly, many market players hae called on the !e&ular

to initiate the process immediately, so that the mutual funds can implement the

chan&es that are re4uired to trade in Deriaties.

INDUSTRY

DETAILS

:=


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I"tro*uctio"

A Mutual 5und is a trust that pools the sain&s of a number of inestors who

share a common financial &oal. $he money thus collected is inested by the fund

mana&er in different types of securities dependin& upon the objectie of the scheme.

$hese could ran&e from shares to debentures to money market instruments. $he

income earned throu&h these inestments and the capital appreciations reali'ed by the

scheme are shared by its unit holders in proportion to the number of units owned by

them. $hus a Mutual 5und is the most suitable inestment for the common man as it

offers an opportunity to inest in a diersified, professionally mana&ed portfolio at a

relatiely low cost.

Anybody with an inestible surplus of as little as a few thousand rupees can

inest in Mutual 5unds. "ach Mutual 5und scheme has a defined inestment objectie

and strate&y.

A Mutual 5und is the ideal inestment ehicle for today3s comple( and

modern financial scenario. Markets for e4uity shares, bonds and other fi(ed income

instruments, real estate, deriaties and other assets hae become mature and

information drien. -rice chan&es in these assets are drien by &lobal eents

occurrin& in faraway places. A typical indiidual is unlikely to hae the knowled&e,

:1


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skills, inclination and time to keep track of eents, understand their implications and

act speedily. An indiidual also finds it difficult to keep track of ownership of his

assets, inestments, brokera&e dues and bank transactions etc.

A Mutual 5und is the answer to all these situations. It appoints professionally

4ualified and e(perienced staff that mana&es each of these functions on a full time

basis. $he lar&e pool of money collected in the fund allows it to hire such staff at a

ery low cost to each inestor.

In effect, the Mutual 5und ehicle e(ploits economies of scale in all three areas *

research, inestments and transaction processin&. Chile the concept of indiiduals

comin& to&ether to inest money collectiely is not new, the mutual fund in present

form is a 0=thcentury phenomenon. In fact, mutual funds &ained popularity only after

the econd Corld Car. 8lobally, there are thousands of firms offerin& tens of

thousands of mutual funds with different inestment objecties. $oday, Mutual 5unds

collectiely mana&e almost as much as or more money as compared to banks.

Hi&tory o% Mutua+ Fu"* I"*u&try

$he mutual fund industry in India started in 1


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cheme 1+, -unjab

7ational Bank Mutual 5und Au&


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$he number of mutual fund houses went on increasin&, with many forei&n

mutual funds settin& up funds in India and also the industry has witnessed seeral

mer&ers and ac4uisitions. As at the end of ;anuary 0==:, there were :: mutual funds

with total assets of !s. 1, 01,=@ crores. $he 9nit $rust of India with !s.??, @?1

crores of assets under mana&ement was way ahead of other mutual funds.

Forth h'! (

inc! F!%rury 2003

In 5ebruary 0==:, followin& the repeal of the 9nit $rust of India Act 10 crores under : schemes.

:?


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T2e %0/-2 i$i,/te# t2e %03t2 1 /##et# *e0 t2e

!e/0#.

(Fig no /, .ro4t0 of Asset ver !0e year)

:@


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Cu#tme0# P01i4e 1 mutu/4 1u$ i$u#t0!()

(Fig no 1,!ype of Customer)

1. Chile you recommend a f inancial plan, you also need to understand the

needs and financial objecties of your customer alon& with his risk tolerance and his

e(pectations from the inestments.

0. /onest and strai&htforward adice is appreciated. /elp your customers make

the ri&ht choice

:. Adise your customers to start inestin& early and re&ularly to help them

optimi'e the benefits of the compoundin& rupee.

?. /elp your inestors with the procedures and paper work inoled in makin&

an inestment.

:


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$reat eery customer e(clusiely. A satisfied customer can &ie you increased business

throu&h resale and referrals of other prospectie customers

*ositioning Strategy of mutual fund industry:-

-ositionin& starts with a product. But positionin& is not what you do to a product.

-ositionin& is what you do to the mind of the prospect. $hat is, you position the

product in the mind of prospect. A company3s differentiatin& and positionin& strate&y

must chan&e as the product, market, and competitors chan&e oer time. . T2e0e

#2u4 be $ u$e0 -#iti$i$%5 *e0 -#iti$i$%5 ,$1u#e -#iti$i$% 0

ubt1u4 -#iti$i$%.

C0annel of Distri5ution:-

In "ery asset Mana&ement #ompany3s distribution channel played ery importantroles.

/ere assets mana&ement companies hae distributors like

#onsultants

A&ents

Distributors

Adisers

Broker

$heir role is ery important for Assets Mana&ement #ompany3s %ffice.

:>


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*romotional !ools #mployed 5y various mutual fund

companies:-

ome specific other document help to increase sellin& product like) *

(") 'anners: -

Banners define brief idea of scheme, it should be ery attractie with specific

objectie and its related picture in city, and Banners keep in specific places which

ery help to do &ood publicity. It distributes only by AM#3s office.

Chen any new scheme is launched or any new 75% comin& up that times company

make banners before few days. Its helps to &ood adertisin& and easy coer to

customer or people.

() Application Form:

Any product like "4uity, debt and balance, inestor should fill up its common

Application forms.

5orm define acknowled&e slip which &ie return to customer. Actually :*time

stamp done in form, one of them is acknowled&ed slip. $hese forms are distributed by

Assets Mana&ement #ompany3s office. It is all Assets Mana&ement #ompany3s office

duty to dispatch forms to their customer like a&ents, brokers, and adisers time to

time.

(/) 'roac0ers:

Broachers include brief history of company. It defines when and where assets

mana&ement #ompany inests inestor3s money. $his defines performance of each

scheme product and also defines its comparison to last : months to more than @ years.

In end of eery month Assets Mana&ement #ompany3s office send Boucher to their

inestors, brokers, a&ents, adisers re&ularly.

:


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?. %ther assets and liabilities

@. 7umber of units sold or purchased

Fact& About Mutua+ Fu"*

"4uity Instruments like shares form only a part of the securities held by Mutual

5unds. Mutual 5unds also inest in debt securities, which are relatiely much safer.

$he bi&&est adanta&e of Mutual 5unds is their ability to diersify the risk.

Mutual 5unds are there in India since 1


41/88

O!"#$%&"' () S$*+

Cithout any aim or objectie, no actiity can e(ist, in the same direction of

preparation of this report on /D5# assets Mana&ement #ompany limited. In different

functional areas and research on the mutual fund awareness in retail inestors of

/D5# assets Mana&ement #ompany limited in urat2 is based on the followin&

objecties) *

1. My primary objectie is to ac4uire primary functions of mana&ement like

-lannin&, %r&ani'in&, Directin& and controllin& from arious functional areas such as

5inance, /uman !esource, Marketin&, and ales etc.

0. Chateer we are tau&ht in the classrooms, there is a limitation that book can

only &ie theoretical concept or knowled&e and it has a limited iew of practically.

o, the other important objectie of this trainin& is to know about practical aspect and

to know how a company actually works in practical situation.

:. $o know the mutual fund awareness leel of the retail inestors who are inest

in /D5# assets Mana&ement #ompany limited.

?1


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L%%$$%(/' () S$*+

$here is no actiity without any limitations.

1. $hou&h eery one used to be ery co*operatie but eery detail was unable to

be disclosed to me as the officials has to maintain secrets of the company.

0. It is difficult to coer all the function of the company.

:. $he analysis and conclusion made by me as per my limited understandin& and

there may be somethin& ariation in the actual situation.

?. Because of the limited time period, the surey work was conducted in the

urat re&ion and the sample si'e was taken as 1== respondents only.

@. In this rapidly chan&in& turbulent era the su&&estions and recommendations

drawn out today mi&ht proe inade4uate or improper tomorrowT this is likely to limit

its effectieness.

?0


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REVIEW OF

LITERATURE

?:


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M9$9A 597D

I"tro*uctio" to Mutua+ Fu"*

A Mutual 5und is a trust that pools the sain&s of a number of inestors who

share a common financial &oal. $he money thus collected is inested by the fund

mana&er in different types of securities dependin& upon the objectie of the scheme.

$hese could ran&e from shares to debentures to money market instruments. $he

income earned in these inestments and the capital appreciation reali'ed by the

scheme is shared by its unit holders in proportion to the number of units owned by

them. $hus a Mutual 5und is the most suitable inestment for the common man as it

offers an opportunity to inest in a diersified, professionally mana&ed portfolio at a

relatiely low cost. Anybody with an inest able surplus of a few thousand rupees can

inest in Mutual 5unds. "ach Mutual 5und scheme has a defined inestment objectie

and strate&y.

A mutual fund is the ideal inestment ehicle for today3s comple( and modern

financial scenario. Markets for e4uity shares, bonds and other fi(ed income

instruments, real estate, deriaties and other assets hae become mature and

information drien. -rice chan&es in these assets are drien by &lobal eents

occurrin& in faraway places. A typical indiidual is unlikely to hae the knowled&e,

skills, inclination and time to keep track of eents, understand their implications and

act speedily.

A mutual fund is answer to all these situations. It appoints professionally

4ualified and e(perienced staff that mana&es each of these functions on a fulltime

basis. $he lar&e pool of money collected in the fund allows it to hire such staff at a

ery low cost to each inestor. In fact, the mutual fund ehicle e(ploits economies of

scale in all three areas Nresearch, inestment and transaction processin&.

A draft offer document is to be prepared at the time of launchin& the fund.

$ypically, it pre specifies the inestment objectie of the fund, the risk associated, the

cost inoled in the process and the broad rules for entry into and e(it from the fund

??


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and other areas of operation. In India, as in most countries, these sponsors need

approal from a re&ulator, "BI in our case. "BI looks at track records of the

sponsor and its financial stren&th in &rantin& approal to the fund for commencin&

operations.

A sponsor then hires an asset mana&ement company to inest the funds

accordin& to the inestment objectie. It also hires another entity to be the custodian

of the assets of the fund and perhaps a third one to handle re&istry work for the unit

holders of the fund. In the Indian conte(t, the sponsors promote the Asset

Mana&ement #ompany also, in which it holds a majority stake. In many cases a

sponsor can hold a 1==H stake in the Asset Mana&ement #ompany AM#+.

".&. Birla 8lobal 5inance is the sponsor of the Birla un ife Asset

Mana&ement #ompany td., which has floated different mutual funds schemes and

also acts as an asset mana&er for the funds collected under the schemes.

As per "BI re&ulations, mutual funds can offer &uaranteed returns for a

ma(imum period of one year. In case returns are &uaranteed, the name of the

&uarantor and how the &uarantee would be honored is re4uired to be disclosed in theoffer document.

Mutua+ Fu"* Cyc+e

(Fig no 2,-Mutual Fund Cycle)

5rom the aboe cycle, it can be obsered that how the money from the inestors flow

and they &et returns out of it. Cith a small amount of fund, inestors pool their money

?@


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with the funds mana&ers. $akin& into consideration the market strate&y the funds

mana&ers inest this pool of money into reliable securities. Cith ups and downs in

market returns are &enerated and they are passed on to the inestors. $he aboe cycle

should be ery clear and also effectie.

$he fund mana&er while inestin& on behalf of inestors takes into consideration

arious factors like time, risk, return, etc. so that he can make proper inestment

decision.

Critica+ vie, about Mutua+ Fu"*

Benefits

If mutual funds are emer&in& as faorite inestment ehicle, it is because of the many

adanta&es they hae oer other forms and aenues of inestin&, particularly for the

inestors who has limited resources aailable in terms of capital and ability to carry

out details research and market monitorin&. $he followin& are the major adanta&es

offered by mutual funds to all inestors.

*3F#SSAL #8*#3!S#

5und mana&ers are professionals who track the market on an on &oin& basis. Cith

their mi( of professional 4ualification and market knowled&e, they are better placed

than the aera&e inestor to understand the markets.

D6#3SFCA!

ince a mutual fund scheme inests in number of stocks andJor debentures, the

associated risks are &reatly reduced.

3#LA!6#L& L#SS #8*#S6#

Chen compared to direct inestments in the capital market, mutual funds cost less.

$his is due to sain&s in brokera&e costs, demat costs, depository costs etc.

L$%D!&

?


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Inestors who inest on there own can build their own portfolios of shares and bonds

and other securities. Inestin& throu&h funds means he dele&ates this decision to the

fund mana&ers. $he ery hi&h*net*worth indiiduals or lar&e corporate inestors may

find this to be a constraint in achiein& their objecties. /oweer, most mutual fund

mana&ers help inestors oercome this constraint by offerin& families of funds* a

lar&e number of different schemes N within their own mana&ement company. An

inestor can choose form different inestment plans and construct a portfolio of his

own.

MAA.. A *3!FL F F%DS

Aailability of a lar&e number of funds can actually mean too much choice for the

inestor. /e may a&ain need adice on how to select a fund to achiee his objecties,

4uite similar to the situation when he has to select indiidual shares or bonds to inest

in.

#!3& AD #8! CS!

Mutual funds are a ictim of their own success. Chen a lar&e body like a fund inests

in shares, the concentrated buyin& and sellin& often results in aderse price moement

i.e. at the time of buyin&, the fund ends up payin& a hi&h price and by sellin& it

reali'es a lower price. 5or obious reasons, this problem is een more seere for

funds inestin& in small capitali'ation stocks. /oweer, &ien the lar&e si'e of debt

market, e(cludin& 9$I, most debt funds do not face this problem.

CHA.# F D#8 CM*S!

$he indices chan&in& oer the world to reflect chan&in& market conditions. $here is

an inherent suriorship bias in this process, with the bad stocks bided out and

replaced by emer&in& blue chips. $his is a seere problem in India with the sense(

hain& bein& chan&in& twice in last @ years, with each chan&e bein& 4uite substantial.

Another reason for chan&e inde( composition is Mer&ers and Ac4uisitions. $he

wei&ht a&e of the shares of a particular company in the inde( chan&es if it ac4uires a

lar&e company not a part of the inde(.

-y I"ve&tor Nee*& Mutua+ Fu"*

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Mutual funds offer benefits, which are too si&nificant to miss out. Any inestment has

to be jud&ed on the yardstick of return, li4uidity and safety. #onenience and ta(

efficiency are the other benchmarks releant in mutual fund inestment. In the

wonderful &ame of financial safety and returns are the tows opposite &oals and

inestors cannot be nearer to both at the same time. $he cru( of mutual fund inestin&

is aera&in& the risk.

Many inestors possibly don3t know that considerin& returns alone, many mutual

funds hae outperformed a host of other inestment products. Mutual funds hae

historically deliered yields aera&in& between


50/88

ncome 3is

$he possibility that a fi(ed*income fund3s diidends will decline as a result of fallin&

oerall interest rates.

Maret 3is

$he possibility that stock fund or bond fund prices oerall will decline oer short or

een e(tended periods. tock and bond markets tend to moe in cycles, with periods

when prices rise and other periods when prices fall.

Ri& Retur" Re,ar* i" Mutua+ Fu"*

(Fig no ;: - 3is 3eturn in Mutual Fund)

$his &raph shows risk and return impact on arious mutual funds. $here is a direct

relationship between risks and return, i.e. schemes with hi&her risk also hae potential

to proide hi&her returns.

Ty!e& o% Mutua+ Fu"*

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$here are a wide ariety of Mutual 5und schemes that cater to your needs, whateer

your a&e, financial position, risk tolerance and return e(pectation. Chether as the

foundation of your inestment pro&ram or as a supplement, Mutual 5und schemes can

help you meet your financial &oals. $he different types of Mutual 5unds are as

follows)

Diversified #


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A fund comprisin& of bonds for which the interest rate is adjusted periodically

accordin& to a predator*mined formula, usually linked to an inde(.

.ilt Funds

$hese funds inest e(clusiely in &oernment securities.

'alanced Funds

$he aim of balanced funds is to proide both &rowth and re&ular income as such

schemes inest both in e4uities and fi(ed income securities in the proportion indicated

in their offer documents. $hey &enerally inest ?=*=H in e4uity and debt

instruments.

Structure o% Mutua+ Fu"*

"Fi% $ 6 ) St0u,tu0e 1 Mutu/4 Fu$&

5und ponsor

Any person or corporate body that establishes the 5und with a net worth of !s. 1=

crores and has paid out consistent returns to its inestors for last three years

consistently and re&isters it with "BI can be a fund sponsor. $he fund sponsor forms

a trust and appoints board of trustees. /e appoints #ustodian and Asset Mana&ement

#ompany AM#+ either directly or throu&h trust in accordance with "BI re&ulations.

"BI re&ulations also define that a sponsor must contribute at least ?= H to the networth of the asset mana&ement company.

AMC

Unitholders

Savings

Units

Trust

Investments

Trust

AMCCustodian

Registrar

SEBI

Returns

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$rustees

$rust is created throu&h the document called $rust deed that is e(ecuted by the fund

sponsor and re&istered with "BI. Board of trustees* a body of indiiduals or a trust

company*a corporate body may mana&e the trust cum Mutual 5und. $hese are

protector of unit holders interests.0J: of the trustees will be indiiduals and will not be

associated with the sponsors.

@:


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RESEARCH

METHODOLODY

RESEARCH

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P*0('" () $2" R"'"0#2

Cith liberali'ation, priati'ation and &lobali'ation there has been a major chan&e in

the Indian Mutual 5unds Industry. $he momentum is on and one is sure to see similar

hectic actiity at the offices of the new entrants especially after the ing mutual fund a4areness in retail investors of HDFC

assets Management Company in Surat,

!esearch methodolo&y is a systematic plan or schedule or pro&ram of the research

done. It describes all the procedures of the research.

@@


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Re&earc De&i0"

!esearch desi&n can be described as an out line of a research project workin& or a

pattern. In a research desi&n there are series of prior decision that to&ether proide a

master plan for completin& a research project. !esearch desi&n is proed to be a

brid&e between what has been established and what is to be done in conduct of the

studies. !esearch desi&n should be compressie and it should proide which

method to be used and what work to be done.

!esearch desi&n describes as a master plan a series of key decisions that seres a

model for conductin& a research project. $here are the main components of research

desi&n.

%bjectie of research

Data inputs

Analysis of data collected

T2e 0e#e/0,2 e#i%$ 3/# exploratory typeand the focus was on &ettin& mutual

fund3s employees iews for arious products, e(pectations from market.

#=ploratory 3esearc0:

"(ploratory study &oes beyond description and attempts to e(plain the reasons for the

phenomenon that the descriptie study only obsered. $he researcher uses theories or

at least hypotheses to account for the forces that caused a certain phenomenon to

occur.

Source& o% Data

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$he &atherin& of data may ran&e from a simple obseration at one location to a

&randiose surey of multinational corporations at sites in different parts of the world.

$he method selected will lar&ely determine how the data are collected. DA$A is the

facts presented to the researcher from the study3s enironment. #haracteristics of the

data are as follows)

Data are more metaphorical than real

Data are processed by our senses*often limited in comparison to

$he senses of other liin& or&anisms.

#apturin& data are said to be trustworthy because they may be

6erified.

Data classify their erity by closeness to the phenomena

$here are two kinds of data that can be collected for research purpose. Based on the

re4uirement in the research appropriate data is collected. Both the kinds of data are

shown below in the fi&ure)

"rror) !eference source not found

1+ -rimary data source

-rimary data are collected and &athered for the first time. -rimary data are sou&ht for

their pro(imity to the truth and controls oer error. Adanta&es of primary data are)

!esearchers can collect precisely the information they want.

$hey usually can specify the operational definitions used and can eliminate, or at

least monitor and record the e(traneous influences on the data as they are &athered.

0+ econdary data source

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omeone else collects secondary data. o, it becomes secondary information for the

research. econdary data hae had least one leel of interpretation inserted between

the eent and its recordin&. !easons for usin& the secondary data are listed below)

$hey fill a need for specific reference or citation on some point

econdary data are an inte&ral part of a lar&er research study

econdary data may be used as the sole basis for a research study, since

In many research situations one cannot conduct primary research

Because of physical, le&al, or cost influences.

Analy'in& the re4uirement of data, it was found that primary data is more important

for achiein& !esearch %bjectie. Primary data is collected with the help of

interviews.

Sam!+i"0 '+a"

#ollectin& the re4uired information from the ri&ht source is ery important. ources

from which the data are collected differ as per the re4uired of researcher.Basically there are two types of data collection sources)

1+ amplin& 9nit)

$he samplin& unit primarily consisted of inestors like businessman, professionals,

salaried employees and others. $he sample unit is taken from the urat city of 8ujarat

re&ion.

0+ ample i'e)

$hou&h lar&e sample &ie more reliable results than small samples but increases the

cost, time and non*samplin& error. Keepin& in iew these constraints 1== respondents

were chosen. Attempts hae been made to see that samples are chosen from different

areas of urat.

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I hae taken 1== responds as a sample si'e for this particular project .$he followin&

table shows area wise distribution of sample si'e.

AREA SAMPLE

9D/7A 1>M%!AB/A8A :

ADA;A7 1@

!A7D"! !%AD 1>

!ACAF $A$I%7 !%AD @

-A!" -%I7$ @

8/%DD%D !%AD

-I-%D 0

MA;9!A8A$" 0

!I78 !%AD ?

B/A8A ?

KA$A!8AM ?

6A!A#/A 0

#I$F I8/$ !%AD

7A7-9!A 0

-A7D"A!A 1

6"D !%AD 1

-A 1

B/"$A7 1

TOTAL 788

Data Co++ectio" Meto*

1 Ti& &te! i"vo+ve& mai"0 a very &!eci%ic !+a" about o, you ,i++ co"*uct

your re&earc a"* co++ect your *ata.2

1+ ureys and Euestionnaires

SurveyTh! m!n' %y which quntitti! r!'!rch i' conduct!d.

$uestionnaire pr!pr!d '!t of qu!'tion' d!'ign!d to g!n!rt! dt

n!c!''ry for ccomp$i'hing th! o%5!cti!' of th! r!'!rch pro5!ct.

used survey met0od for data collection. /nformtion w' co$$!ct!d %y

personal intervie4sthrough


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imp$! ct!gory 'c$!: - ,6-27 6-47 6-*7 6-)

u$tip$! choic! 'ing$! r!'pon'! 'c$!': - ,6-&

u$tip$! choic! mu$tip$! r!'pon'! 'c$!:-,6-17 6-37 6-#7 6-+

DATA ANALYSIS

AND

=


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FINDINGS

E*1 which inestment aenues are you aware ofU

I76"$M"7$ A6A79" 5!"E9"7#F -"!#"7$A8"H+

"E9I$FJM9$9A 597D 1== :?.:

-%$ %55I#"


62/88

(Fig no ?: - Define investments avenues)

nterpretation: -

5rom the aboe charts we can interpret that awareness of e4uityJmutual fund, post

office 7#, K6-, and --5+, fi(ed deposits is more compare to others like 8%6$

I9"D Instrument, 8%6$ Backed Instrument, !eal "state, &old etc. so /D5#

assets Mana&ement #ompany needs to focus more on those inestors who are more

inest in K6-, 7#, --5 and fi(ed deposits.

E*0 do you inests in mutual fundU

F" 7%

:

0


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(Fig no "@: - Define investments in mutual fund)

5rom the aboe chart it is &ettin& clear that now a days people are like to inest their

money in mutual fund of different assets mana&ement company, out of 1== people

sampled are inestin& in the mutual fund.

E*: If yes, in which assets class do you want to inest in

Mutual 5undU

$F-" %5 #/"M" !"-%7" -"!#"7$A8"

"E9I$F >0.0>H

D"B$ 0> 00.


64/88

(Fig no "": - Define sc0emes preferred 5y investors)

5rom the aboe chart it is &ettin& clear that from 1== peoples sample >0.0>H+

people are inest in e4uity assets class and 0>00.


65/88

(Fig no ": - Define investment in HDFC assets Management Company)

From th! %o! chrt it i' g!tting c$!r tht out of 100 p!op$! 'mp$!d7 #&

p!op$!' r! in!'t in HDFC ''!t' mng!m!nt compny nd 44 p!op$!'

r! not in!'t' in HDFC ''!t' mng!m!nt compny.

E*@ If yes, in which scheme would you inest in /D5# assets

Mana&ement company limitedU

SCHEMES OF HDFC

NO OF

INVESTOERS

"E9I$F 597D ?:

#A-I$A B9ID"! 597D 0

-!9D"7#" 597D 1>

$A A6"! 597D :@

#%!" A7D A$"I$" 597D :

$%- 0== 597D 1

BAA7#"D 597D 1

@


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8!%C$/ 597D 1

%$/"! 597D @

(Fig no "/: - Define sc0eme in 40ic0 investors invest in HDFC assetsManagement Company)

5rom the aboe chart we can see that in /D5# assets Mana&ement #ompany3s

"E9I$F 597D ma(imum number ?:+ of people are inest. In $A A6"! 597D

:@ number of people inests. In both $%- 0== 597D and 8!%C$/ 597D 1

numbers of people are inests but in BAA7#"D 597D, #A-I$A B9ID"!

597D, #%!" A7D A$"I$" 597D only 1,0 and : people are inest so inestors

are not inested in these : schemes. In -!9D"7#" 597D 1> numbers of people are

inested.

E* By which medium you inest in /D5# assets


MEDIUM OF INVESTMENT NO OF PEOPLE

DI$!IB9$%!

BA7K ?

%7I7" =


67/88

(Fig no "1: - Define mediums c0oose 5y investors for invest in HDFC

assets management company)

5rom the aboe chart it3s &ettin& cleared that most of the peoples ?+ are inest by

bank and only peoples are inest by distributors. 7obody inests throu&h online. o

here /D5# assets Mana&ement #ompany has to proide facility by which inestors

inest their money with out any middle man in mutual fund schemes throu&h online.

7otes) * here out of 1== responds, ?? responds are not inest in /D5# assets

Mana&ement #ompany. $hese responds are not considered in these 4uestions.

>


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E*> why do you prefer inestin& in /D5# assets


PREFENCE CRITERIA NUMBER

B"$$"! 597D /%9" ?:

"#""7$ #9$%M"! "!6I#"

-!%6ID"! 1@

#%7I$A7$ !"$9!7 ??

%$/"! 1

Fig no "2: - Define *reference criteria of investors)

5rom the aboe pie * chart it can be seen that majority of the people that is ?? peoples

&ie first rank to consistent return and ?: peoples inest in /D5# assets mana&ement

company because /D5# assets mana&ement company is a better fund house and 1@

peoples beliees that /D5# assets Mana&ement #ompany proides "#""7$

#9$%M"! "!6I#".

E* In which type of product Jschemes would you prefer while

Inested in e4uity schemes of /D5# assets mana&ement


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#ompany limitedU

TYPES OF SCHEMES RESPONSE

%-"7 "7D"D @:

#%" "7D"D :

(Fig no ";: - Define type of product sc0emes investors prefer for

investments)

5rom the aboe chart it is &ettin& clear that most of peoples @:+ prefer to inest in

%-"7 "7D"D e4uity schemes and only just : peoples want to inest in #%""7D"D e4uity schemes of /D5# assets Mana&ement #ompany.

7otes) * here out of 1== responds, ?? responds are not inest in /D5# assets

Mana&ement #ompany. $hese responds are not considered in these 4uestions.

E*< do you know about on &oin& new fund offer of /D5#

Assets Mana&ement company limitedU


70/88

AWARENESS OF NFO NUMBER PERCENTAGE

F" @ @H

7% ?0 ?0H

$%$A 1== 1==H

(Fig no "+: - Define a4areness level a5out on going F of HDFC assets

Management Company,)

$he aboe pie * chart shows that around @H people aware of on &oin& new fund

offer of /D5# assets Mana&ement #ompany and only ?0H people are unaware from

on &oin& new fund offer of /D5# assets mana&ement company.

>=


71/88

FINDINGS

FINDINGS

Almost @H are inestin& in /D5# assets mana&ement company3s schemes.

>1


72/88

%ut of the total respondent almost :=H said that they inest in fi(ed deposit and

Insurance. Chere as :?H said that they inest in hares and mutual funds, where as

:0H says that they inest in post office schemes.

H of the inestor was found who is inested their sain&s in different

schemes of mutual fund.

@: respondents prefer to inest in a open ended schemes of /D5# assets

mana&ement company, where as remainin& only : respondents prefer to inest in a

close ended of /D5# assets mana&ement company.

It is found that awareness leel about Mutual 5unds is H in urat city of

8ujarat.

%ut of the total respondent >0.0>H are inestin& in e4uity schemes. Chere as

remainin& 00.0


73/88

In /D5# assets Mana&ement #ompany3s "E9I$F 597D ma(imum number

?:+ of people are inested and In $A A6"! 597D :@ number of people are

inests.

>:


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LIMITATIONS

I!I"#"I$NS $F %&S%'(

>?


75/88

$his e(ploratory research is done focusin& on the inestment scenario of urat

city of 8ujarat re&ion only and therefore findin&s and su&&estions &ien on the basis

of this research and cannot be considered for the entire Mutual 5und Industry of India.

ome of the people, out of arious sectors that I had isited for study, did not

&ie me cooperatie response.

Due to small market and time limit I could take only 1== responses.

Another limitation is that due to lack of knowled&e and education many

inestors don3t know the basic ideas behind mutual fund.

Due to $ime constraint I could not analy'e more.

My own ine(perience in research area mi&ht hae affected the study.

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CONCLUSIONS

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'$N'USI$NS

/alf of the respondents are inestin& in different schemes of mutual fund

companies.

$he inestors prefer inestin& more in banks and post office, which shows that

inestors want security, and assured returns.

%thers than Banks and post office the ne(t preference of inestors who &o for

risky preposition in shares and Mutual 5unds. $hat is basically due to misconception

that Mutual 5und #ompanies usually inest in e4uity market, which shakes trust of

people in Mutual 5und.

Majority of inestors inested in open*ended schemes.

$he awareness leel about /D5# assets Mana&ement #ompany is moderate but

still the awareness should be created because ??H peoples still not inest in /D5#

assets Mana&ement #ompany.

As the inestor prefers safe inestment and want consistent return, they inest in

debt schemes 00.>


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$he time frame of the inestment by majority of the inestors is open*ended

schemes in which their money is not locked for : to @ years.

RECOMMENDATION

S

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%ecommendations

$he company should try to make aware people about their different schemes

throu&h the road showT seminars and presentation that it is not just e4uity based

schemes but also debt and li4uid or balanced schemes also promoted by company.

#ompany has to put hoardin&s, banners, pamphlets in that area where peoples can

watch easily.

$he customers should be made aware that if the time frame of the inestment

is more than : years "4uity option is the best tool for inestin& in mutual fund by this

inestors &ettin& &ood and hi&h returns for their inestments.

$he company should be conductin& special trainin& and motiation

-ro&ramme for their distributors and also for inestors so that they are bein&

motiated to work, their 4uality of performance and contribution in sales is

maintained.

#ompany has to proide application forms and other promotional materials to

their distributors time to time and company has to maintain better relationship with

their distributors by these they can &ie &ood contribution in inestments.

7one of responds inest their money in different schemes of company

By %nline, so company has opportunity to launch online serices for their distributors

and retail inestors.

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#ompany3s core and satellite fund, balanced fund, capital builder fund are

preferred by ery few inestors because this schemes not perform well so company

has to think about their companies in which they inest inestor3s money so they hae

to chan&e portfolio of inestments.

Most of the people still preferred to inest in post office schemes and fi(ed

deposits so company has to focus on these inestors.

ANNEXURE

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3ue&tio""aire

8E: -

DD9E: -

C8TCT 8: , ,9 ,

1 ;hich in!'tm!nt !nu!' r! you wr! of

A Study on Hdfc Mutual Fund

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