Deepak ICICI Prudential Project Report

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Transcript of Deepak ICICI Prudential Project Report

PROJECT REPORT ON PERCEPTION OF THE CHANNEL PARTNERS TOWARDS MUTUAL FUNDSSubmitted to the Partial Fulfillment of the Award of Post Graduate Diploma IN Business Administration By DEEPAK KUMAWAT Registration No. 200737327 Under the Supervision of Ms. Noopur BardiaSYMBIOSIS CENTRE FOR DISTANCE LEARNING

(SCDL) Batch- 2007

ACKNOWLEDGEMENTI would like to take this opportunity to thank all the persons who have helped me in making my project a great success. My special thanks to Ms. Noopur Bardia, Sr. Regional Credit Manager, Rajasthan, for giving me this opportunity to work with ICICI Bank and for guiding me through the whole training period. I am very thankful to all my colleagues of ICICI Bank for helping me in my work. Its very difficult to express feelings about ICICI Bank staff for the help and support. It has indeed been a rich learning experience. Last but not the least I would like to thank those person whose encouragement and ideas enriched my report.

Thank you very much. Date: 7th October 2010 Place: Jaipur Deepak Kumawat

TABLE OF CONTENTSr. No. Content 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 OBJECTIVE ICICI PRUDENTIAL AMC AT GLANCE RESEARCH METHODOLOGY LIMITATIONS AN IN-DEPTH KNOWLEDGE OF MUTUAL FUND RISK RETURM MATRIX PROCESS OF MUTUL FUND ORGANIZATION OF MUTUL FUND STRUCTURE OF MUTUAL FUND ADVANTAGE OF MUTUL FUND DISADVANTAGE OF MUTUL FUND TYPE OF SCHEME IN MUTUL FUND ICICI PRUDENTIAL MUTUAL FUND SCHEMES COMPARATIVE STUDY SURVEY MATHEMATICAL ANALYSIS OF DATA FINDINGS OF THE SURVEY SUGGATIONS Page No. 4 5 9 11 12 17 19 21 23 25 29 32 42 46 57 69 72 73

1- OBJECTIVEThe main objectives of the study were: To study the mutual funds in detail, to study the various aspects involved in mutual funds as to its working procedure, its advantages and disadvantages also the in-depth study of different kinds of mutual funds. To study the channel partners perception towards the mutual funds scenario in Jaipur. To know how to face the problem of corporate world, to face original market situations and to gain real marketing experience. To enhance the knowledge and skills by working in particular company and apply the theoretical knowledge in corporate sector. To face the problem of corporate world and tackle them in polite way. To educate the customers about facilities provided by ICICI Prudential.

The major findings of the report were found out that it is important to recognize the needs of the customer and implement on them and also to recognize the potentials of their brokers and agents and to reward them accordingly to retain their competency. It was also found out that the survival and growth of the enterprise in dynamic business environment would depend largely on their ability to promote.

2- ICICI PRUDENTIAL AMC AT A GLANCEICICI Prudential Asset Management Company enjoys the strong parentage of Prudential plc, one of UK's largest players in the insurance & fund management sectors and ICICI Bank, a well-known and trusted name in financial services in India. ICICI Prudential Asset Management Company, in a span of just over eight years, has forged a position of preeminence in the Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of Rs. 68,7105.105 Crore (as of August 31, 2010). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors spread across 230 cities in the country.

Key Indicators At inception - May 110108 Average Assets Under Management Number of Funds Managed Rs. 160 Crore 2 As on August 30, 2010 Rs. 687105.105 Crore 40

SPONSORS ICICI BANK LTD Securities and Exchange Board of India, vide its letter no. MFD/PM/567/02 dated June 4, 2002, has accorded its approval in recognizing ICICI Bank Ltd. as a co-sponsor consequent to the merger of ICICI Ltd. with ICICI Bank Ltd. ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank by market capitalization and second largest overall in terms of assets. Bank has total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 8106 million) for the year ended March 31, 2010. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalization Free float holding excludes all promoter holdings, strategic investments and cross holdings among public sector entities. The Bank has a network of 2,035 branches and about 5,518 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

ICICI PRUDENTIAL MUTUAL FUND Headquartered in London, Prudential plc and its affiliated companies together constitute one of the world's leading financial services groups. Prudential provides insurance and financial services in a number of markets around the world, including in Asia, the US, the UK, Europe and the Middle East. Founded in 1848, the company has 2410 billion in funds under management (as of December, 31 2008) and more than 21 million customers worldwide. Prudential has been writing life insurance in the United Kingdom for 160 years and has had the largest long-term fund in the United Kingdom, for over a century. In the United Kingdom, Prudential is a leading retirement savings and income solutions and life assurance provider. M&G is Prudential's fund management business in the United Kingdom and Europe, with almost 140 billion in funds under management (as of December 31, 2008). In the United States, Jackson National Life, which we acquired in 11086, is one of the largest life insurance companies providing retirement savings and income solutions. In Asia, Prudential is the leading Europe-based life insurer in terms of market coverage and number of top three ranking positions. It is also one of the largest and most successful fund managers in Asia with more top five market rankings than any other regional player. Today, Prudential has life insurance and fund management operations spanning 13 diverse markets in Asia. Prudential plc is incorporated and with its principal place of business in the United Kingdom. It is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States. AMC Member Details

Information As On 01st Aug 2010 Name of the Mutual Fund Date of setup of Mutual Fund Name(s) of Sponsor Name of Trustee Company Name of Trustees Name of the Asset Management Co. Date of Incorporation of AMC ICICI Prudential Mutual Fund October 13, 110103 Prudential Plc and ICICI Bank Ltd. ICICI Prudential Trust Ltd. Mr. D.J. Balaji Rao - Director Mr. Keki Bomi Dadiseth - Director Mr. M. S. Parthasarathy - Director Ms. Madhabi Puri-Buch - Director ICICI Prudential Asset Mgmt.Company Limited June 22, 110103 Dr. (Mrs.) Swati A Piramal Mr. Barry Stowe Mr. Dileep Choksi Mr. N.S.Kannan Mr. Nilesh Shah Mr. Nimesh Shah Mr. Vijay Thacker Mr. Vikram B. Trivedi Ms. Chanda Kochhar Ms. Chanda Kochhar Mr. Nimesh Shah Mr. Nilesh Shah Mr. Chaitanya Pande Mr. Rahul Goswami Mr. S Naren Ms. Supriya Sapre Ms. Kamaljeet Saini 8th Floor, Peninsula Tower, Peninsula Corporate Park, Lower Parel Mumbai 400013 (B)2410107000 (Fax) 24101070210 [email protected] http://www.icicipruamc.com/ M/s N. M. Raiji & Company HDFC Bank Limited

Name(s) of Director

Name of Chairman Name of Chief Executive Officer Name of Chief Investment Officer Name(s) of Fund Manager Name of Compliance Officer Name of Investor Service Officer Address of AMC

Telephone Number Email Website Name(s) of Auditors Name(s) of Custodian Name(s) of Registrar and Transfer Computer Age Management Services Pvt. Ltd. Agent

3- RESEARCH METHODOLOGY3.1 RESEARCH DESIGN In-depth study of mutual funds and to study the perception of the channel partners towards the mutual funds scenario in Jaipur. I. SAMPLING METHOD: Simple Random Sampling Under this sampling design every item of the universe has an equal chance of inclusion in the sample. This consists the collection of information randomly from the available universe, whose views may be relevant to the subject of inquiry. Here 25 out of about 680 empanelled brokers of the ICICI Prudential Mutual Funds, Jaipur branch were consulted for the study. II. SOURCE OF DATA a) PRIMARY DATA The primary data collected for the study from the brokers and the agents. Questionnaire has been used for the study of the brokers perception towards mutual fund scenario. b) SECONDARY DATA Secondary data was collected from the companys journals, annual reports, office documents & various reference websites were also concerned for the collection of secondary data

III. TOOLS FOR DATA COLLECTION The tool used for the collection of primary data is the Questionnaire Method and for the collection of secondary data the following tools were used: a) Branch Manager and Sales Executives were consulted for various queries. b) Various sites were referred in order to colle