1

Chapter 1

Introduction

2

Introduction to Project work and General

Environment

Learning During the Training:

If one wants to experience the corporate life as to how things work,

summer training is the best way to do so. This is because we are able to see how

the people work how the entire administration does their work, we in reality

came to know what actual the term “work pressure” means. During training I

have made familiar with equity market, Stock market and Selling Mutual funds

and also make contact with customer. I also made familiar that how the selling

SIP and LUMSUM place at Mutual Funds.

After one months of the project, I have started to collection of data from

the internet. I have taken 3 AMC of 9 equity mutual funds of the different

company. Based on the objective of the project, I have started to make the

project report and prepare the report in the duration of one full month. I felt

many experience while Data analysis and also got superb knowledge about the

Mutual fund market and also how to invest in share/stock market.

I have worked with Mr.Hemanshu Varma for the detail analysis of the

various mutual funds and which Funds to buy or sell through Increase or

decrease in sensex. And also I worked on the Analysis of data of some of the

company in mutual funds market so that we practically understand very well.

The HDFC AMC LTD, Baroda branch have 5 team Member (Mutual funds

Advisor) and 5 back office work employees and there are mainly 12 computers

in which the 10 to 5.30 longing the transaction are done on daily basis.

3

The company provides good facility to the customer and helps them to make

investment in Mutual funds and also send information books to every month.

The company provides two times tea. Also the experts provide some tips and

suggestion to the clients so that they can make profit out of their investment.

Top 10 Assets Management Company In India:

According to the latest report, asset management business in India is going to

increase at least 33% annually. And without wasting any time, Indian asset

management companies are getting prepared to cash in the scenario. The main

growth is expected in the retail segment (an estimated growth of 36%). Also in

the list is investor segment (as estimated growth of 29%).

Assets under management (Rs.Cr)

Name of the Assets management Co.

Total AUM on

Dec 2011

Total AUM on

Mar.2012

Total AUM

Change

% change

HDFC Mutual Fund 88,628 89,879 1,251 1.41 Reliance Mutual Fund 82,306 78,112 -4,194 -5.10 ICICI Prudential Mutual Fund

69,368 68,719 -649 -0.94

Birla Sun Life Mutual Fund 60,377 61,143 765 1.27 UTI Mutual Fund 57,817 58,922 1,105 1.91 SBI Mutual Fund 41,552 42,042 490 1.18 Franklin Templeton Mutual Fund

35,642 34,493 -1,149 -3.22

DSP BlackRock Mutual Fund 30,565 29,298 -1,267 -4.14 Kotak Mahindra Mutual Fund

29,738 25,738 -4,000 -13.45

IDFC Mutual Fund 26,476 25,450 -1,026 -3.87 Tata Mutual Fund 21,473 19,818 -1,655 -7.71

4

Total AUM on March 2012

%change from Dec.2011to March 2012

5

Chapter 2

Research Methodology

6

(A) Research Objectives:-

Objectives of Summer Internship Project Report:

To understand the actual management functioning in the corporate

organization

To apply the theoretical knowledge in actual learning process

To study the different role of all departments at company and their

coordination among each other

To understand the current scenario in the corporate regarding the

management practices and workings

Primary Objective

Comparing the different equity schemes provided by different Assets

management companies to attract the investor.

Identify the various factors influencing the investor while choosing a

different equity schemes.

To compare different equity schemes of 3 AMC & return given by them in

last 5 year.

Secondary Objective

To know why investors investing in different equity schemes instead of

stock market.

To know how&why investors choose different Assets management

company.

(B) Scope of the study:-

Area Covered: This study is limited only to the Baroda city.

Schemes of mutual funds: In this study I covered different 9 equity

schemes of 3 Assets Management company.

7

(C) Data Collection:

Primary Data: Through Observation during summer internship, Informal

interaction with clients, with Advisors, with Banks employees & banks

customers.

Secondary Data:

Internet

Books

Annual Reports of AMFI, SEBI

Research Papers on the related topics done before

From HDFC, ICICI & RELIANCE AMC website

Sample Size:-

At the planning stage of a statistical investigation part, the selecting of

sample size is very critical. The objective of taking sample was to obtain

desirable level of accuracy and confidence with minimum of cost, time, and

energy. A sample size of 9 equity schemes of 3 Assets Management

company was taken for the analysis purpose.

Data Analysis Tools used in Project:-

Charts.

Graphs.

Simple Statistical Tools : Percentages, Averages

(D) Limitations of the Projects:

Area: The area was limited only to Baroda City. The result may have

varied, if it was conducted somewhere else.

Sample Size: The Sample size taken is only 9 equity schemes of only 3

AMC which may not result in very accurate results.

8

Personal Bias:

Some clients and customers may have had personal bias due to which

they may not have given the correct information and due to which the

right conclusion may not be have been derived at.

9

Chapter 3

Industry Profile

10

Industry Profile:-

Overview and Development of Mutual funds in India:

An efficient, articulate and developed financial system is necessary for the rapid

economic growth and development of a country. Financial system facilitates the

transformation of savings of individuals, governments, and businesses into

investment and consumption. A complete system is formed of specialized

intermediaries and non-specialized intermediaries, organized and non-

organized financial markets and financial instruments and services.

Financial institutions act as mobilizes and depositories of savings, and providers

of various financial services to the community. Be that as it may, the financial

system helps accelerate the rate of economic development and there by improve

the standard of living and increase the social welfare of the community. This is

achieved by the financial system through mobilizing the savings and investing

them gainfully. Financial markets make it possible by performing a number of

important and useful functions and providing variety of services such as:

1. Enabling economic units to exercise their time preference

2. Diversification and Reduction of risk

3. Efficient operation of payment mechanism

4. Transformation of financial claims suiting to the preferences of savers and

borrowers

5. Increasing liquidity of financial claims through securities trading and

6. Portfolio management.

In an economy, at a particular point of time some people have higher current

income than their current expenditure, while just reverse happens in respect of

others.

11

ALL ABOUT MUTUAL FUND:-

“A Mutual Fund Is a Pool of Money That Is

Invested In Various Securities and Professionally

Managed By an Investment Manager”

Mutual Fund – Concept

A Mutual Fund is a trust that pools the savings of a number of investors who

share a common financial goal. The money thus collected is then invested in

capital market instruments such as shares, debentures and other securities. The

income earned through these investments and the capital appreciation realized

is 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. The flow chart below describes broadly the

working of a mutual fund.

Definition of Mutual Fund:

A mutual fund is a pool of assets invested on behalf of investors. Mutual funds

invest in a diversified portfolio of securities, which can include equity securities

(such as common and preferred shares), debt securities (such as bonds and

debentures) and other financial instruments issued by corporations and

governments, according to the stated investment objectives of the funds.

Individual investors own a percentage of the value of the fund as represented by

the number of units they purchase. A collection of money invested in a group of

assets and managed by an investment company (a mutual fund company or

other). The money comes from investors who want to buy shares in the fund.

12

History of Mutual Funds in India (1964 - 2000)

The end of millennium marks 39 years of existence of mutual funds in this

country. The ride through these 39 years has not been smooth. Investor opinion

is still divided. While some investors are having positive view about mutual

funds while others are against it.

UTI commenced its operations from July 1964 .The impetus for establishing a

formal institution came from the desire to increase the propensity of the middle

and lower groups to save and to invest. UTI came into existence during a period

marked by great political and economic uncertainty in India. With war on the

borders and economic turmoil that depressed the financial market,

entrepreneurs were hesitant to enter capital market.

The already existing companies found it difficult to raise fresh capital, as

investors did not respond adequately to new Initial Public Offerings (which is

now compulsorily known as New Fund Offers by SEBI). Earnest efforts were

required to canalize savings of the community into productive uses in order to

speed up the process of industrial growth.

The Finance Minister of that time, T.T. Krishnamachari set up the idea of a unit

trust that would be "open to any person or institution to purchase the units

offered by the trust. However, this institution as Investors see it, is intended to

cater to the needs of individual investors, and even among them as far as

possible, to those whose means are small."

His ideas took the form of the Unit Trust of India, an intermediary that would

help fulfil the twin objectives of mobilizing retail savings and investing those

savings in the capital market and passing on the benefits so accrued to the small

investors.

13

UTI commenced its operations from July 1964 “with a view to encouraging

savings and investment and participation in the income, profits and gains

accruing to the Corporation from the acquisition, holding, management and

disposal of securities."

Different provisions of the UTI Act laid down the structure of management,

scope of business, powers and functions of the Trust as well as accounting,

disclosures and regulatory requirements for the Trust.

One thing is certain – the fund industry is here to stay. The industry was one-

entity show till 1986 when the UTI monopoly was broken when SBI and Canara

bank mutual fund entered the arena. This was followed by the entry of others

like BOI, LIC, GIC, etc. sponsored by public sector banks. Starting with an asset

base of Rs. 25 crore in 1964 the industry has grown at a compounded average

growth rate of 27% to its current size of Rs.100 million.

The period 1986-1993 can be termed as the period of public sector mutual funds

(PMFs). From one player in 1985 the number increased to 8 in 1993. The party

did not last long. When the private sector made its debut in 1993-94, the stock

market was booming.

The opening up of the asset management business to private sector in 1993 saw

international players like Morgan Stanley, Jardine Fleming, JP Morgan, George

Soros and Capital International along with the host of domestic players joins the

party. But for the equity funds, the period of 1994-96 was one of the worst in the

history of Indian Mutual Funds.

Mutual funds have been around for a long period of time to be precise for 39 yrs

but the year 1999 saw huge future potential and developments in this sector.

This year signalled the year of recovery of mutual funds and the regaining of

investor confidence in these Mutual funds. This time around all the participants

14

are involved in the revival of the funds the Asset Management Companies, the

unit holders, the other related parties.

Growth of Mutual Funds in India

1st Phase (1964-87): - Growth of Unit Trust of India

Only one player: Unit Trust of India (UTI) with a total asset of Rs. 6700/- crores

at the end of 1988.

2nd Phase (1987-93): - Entry of Public Sector Funds

Total 8 new funds were established in which (6 by banks and one each by LIC

and GIC). The total AUM had grown to Rs. 61028/- crores at the end of 1994 and

the numbers of schemes were 167 and at this time the schemes ware more than

800.

3rd Phase (1993-96): - Emergence of Private Funds

Began with the entry of private and foreign sectors in the Mutual Fund industry

in 1993.Kothari Pioneer Mutual fund was the first fund to be established by the

private sector in association with a foreign fund.

In this third phase 32 new funds have came with NFO of Rs. 1, 13,005 crores as

total Asset under Management. As on August end 2000, there were 33 funds

with 391 schemes and asset under management with Rs. 1, 02,849 crores.

The SEBI came out with comprehensive regulation in 1993 which defined the

structure of Mutual Fund and AMC for the first time. Several private sectors

Mutual Funds were launched in 1993 and 1994. The share of the private players

has risen rapidly since then. Currently there are 38 Mutual Fund organizations

in India managing 1, 55,845 crores.

15

4th Phase (1996-99): - Growth and SEBI Regulation

In February 2003, UTI was bifurcated into two separate entities.

One is the specified undertaking of UTI of Rs.29, 835 in 65 schemes.

Second UTI M.F. sponsored by SBI, PNB, BOB and LIC.

5th Phase (1999-04):- Emergence of a large and uniform industry

The other major development in the fund industry has been the creation of a

level playing field for all mutual funds operating in India. This happened in

February 2003, when the UTI act was repealed. Unit Trust of India no longer has

a special legal status as a trust established by an act of Parliament. Instead, it has

also adopted the same structure as any other fund in India – a Trust and an Asset

Management Company. UTI Mutual Fund is the present name of the erstwhile

Unit Trust of India. While UTI functioned under a separate law of Indian

parliament earlier, UTI Mutual Fund is now under the SEBI’s (Mutual Funds)

Regulations, 1996 like all other mutual funds in India.

Year 1999 marked the beginning of a new phase in the history of the mutual

fund industry in India, a phase of significant growth in terms of both amounts

mobilized from investors and assets under management.

6th Phase (2004-onwards):- Consolidation and Growth

The industry has lately witnessed a spate of mergers and acquisitions, most

recent ones being the acquisition of schemes of Alliance Mutual Fund by Birla

Sun Life, Sun F&C Mutual Fund by Principal and PNB Mutual Fund by Principal.

At the same time, more international players continue to enter India, including

Fidelity, one of the largest funds in the world.

16

Global Scenario

Some Basic Facts:

The money market mutual fund segment has a total corpus of

Rs. 63,640 crores in the U.S. against a corpus of Rs. 430 crores in India.

Out of the top 10 mutual funds worldwide, 5 are bank- sponsored. Only

Fidelity and Capital are non-bank mutual funds in this group.

In the U.S. the total number of schemes is higher than that of the listed

companies while in India AMCs have just 277 schemes.

Internationally, mutual funds are allowed to go short. In India fund managers

do not have such leeway.

In the U.S. about 97, 00,000 households will manage their assets on-line by

the year 2003, such a facility is not yet of avail in India.

On- line trading is a great idea to reduce management expenses from the

current 2 % of total assets to about 0.75 % of the total assets.

Such changes could facilitate easy access, lower intermediation costs and

better services for all. A research agency that specializes in internet

technology estimates that over the next four years Mutual Fund Assets traded

on- line will grow ten folds from 5,504 crores to 5,27,610 crores; whereas

equity assets traded on-line will increase during the period from 10578

crores to 618782 crores. This will increase the share of mutual funds from

34% to 40% during the period.

Here are some of the basic changes that have taken place since the advent of

the Internet.

Lower Costs: Distribution of funds will fall in the online trading regime by

2003. Mutual funds could bring down their administrative costs to 0.75% if

trading is done on- line. As per SEBI regulations, bond funds can charge a

maximum of 2.25% and equity funds can charge 2.5% as administrative fees.

17

Better advice: Mutual funds could provide better advice to their investors

through the Net rather than through the traditional investment routes where

there is an additional channel to deal with the Brokers. Direct dealing with the

fund could help the investor with their financial planning.

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.

Organization Structure of Mutual Funds Industry

Sponsors

Unit

Holders

Transfer Agent

AMC

SEBI

Trustees

Mutual Fund

18

Mutual fund is set up in the form of a trust, which has sponsor, trustees, asset

Management Company (AMC) and a custodian. The trust is established by a

sponsor or more than one sponsor who is like a promoter of a company. The

trustees of the mutual fund hold its property for the benefit of the unit-holders.

The AMC, approved by SEBI, manages the funds by making investments in

various types of securities. The custodian, who is registered with SEBI, holds the

securities of various schemes of the fund in its custody. The trustees are vested

with the general power of superintendence and direction over AMC. They

monitor the performance and compliance of SEBI Regulations by the mutual

fund.

Mutual Fund

The Mutual Fund Regulations lay down several criteria that need to be fulfilled

in order to be granted registration as a mutual fund. Every mutual fund must be

registered with SEBI and must be constituted in the form of a trust in accordance

with the provisions of the Indian Trusts Act, 1882. The instrument of trust must

19

be in the form of a deed between the sponsor and the trustees of the mutual

fund duly registered under the provisions of the Indian Registration Act, 1908.

Sponsor

The sponsor is required, under the provisions of the Mutual Fund Regulations, to

have a sound track record, a reputation of fairness and integrity in all his

business transactions additionally; the sponsor should contribute at least 40%

to the net worth of the AMC. However, if any person holds 40% or more of the

net worth of an AMC shall be deemed to be a sponsor and will be required to

fulfill the eligibility criteria specified in the Mutual Fund Regulations. The

sponsor or any of its directors or the principal officer employed by the mutual

fund should not be guilty of fraud, not be convicted of an offence involving moral

turpitude or should have not been found guilty of any economic offence.

Trustees

The mutual fund is required to have an independent Board of Trustees, i.e. two

thirds of the trustees should be independent persons who are not associated

with the sponsors in any manner whatsoever. An AMC or any of its officers or

employees is not eligible to act as a trustee of any mutual fund. In case a

company is appointed as a trustee, then its directors can act as trustees of any

other trust provided that the object of such other trust is not in conflict with the

object of the mutual fund.

Asset Management Company

The sponsor or the trustees are required to appoint an AMC to manage the

assets of the mutual fund. Under the Mutual Fund Regulations, the applicant

must satisfy certain eligibility criteria in order to qualify to register with SEBI as

an AMC

20

The sponsor must have at least 40% stake in the AMC.

The directors of the AMC should be persons having adequate professional

experience in finance and financial services related field and not found guilty

of moral turpitude or convicted of any economic offence or violation of any

securities laws.

The AMC should have and must at all times maintain, a minimum net worth of

Rs. 100 million.

Custodian

Under the Securities and Exchange Board of India (Custodian of Securities)

Guidelines, 1996, any person proposing to carry on the business as a custodian

of securities must register with the SEBI and is required to fulfill specified

eligibility criteria. Additionally, a custodian in which the sponsor or its

associates holds 50% or more of the voting rights of the share capital of the

custodian or where 50% or more of the directors of the custodian represent the

interest of the sponsor or its associates cannot act as custodian for a mutual fund

constituted by the same sponsor or any of its associate or subsidiary company.

Schemes

Under the Mutual Fund Regulations, a mutual fund is allowed to float different

schemes. Each scheme has to be approved by the trustees and the offer

document is required to be filed with the SEBI. The offer document should

contain disclosures which are adequate enough to enable the investors to make

informed investment decision, including the disclosure on maximum

investments proposed to be made by the scheme in the listed securities of the

group companies of the sponsor. If the SEBI does not comment on the contents

of the offering documents within 21 days from the date of filing, the AMC would

be free to issue the offer documents to public.

21

Investor

Fund

Manager

Returns

Securities

Securities

Passed back to

Invest in Generates

Pooled their

money with

Investment Criteria

The money collected under any scheme of a mutual fund shall be invested only

in transferable securities in the money market or in the capital market or in

privately placed debentures or securities debts. However, in the case of

securities debts, such fund may invest in asset-backed securities and mortgaged

backed securities.

The mutual fund having an aggregate of securities which are worth Rs.100

million (approximately USD 2.15 million) or more shall be required to settle

their transactions through dematerialized securities. Even such borrowing

cannot exceed 20% of the net asset of a scheme and the duration of such a

borrowing cannot exceed a period of six months. Similarly, a mutual fund is not

permitted to advance any loans for any purpose.

Mutual Fund Operation Flow Chart

22

How Does Mutual Fund Work?

Types of Mutual Funds:

23

Classification According To Investment Objective:

Risk Profile Comparison B/w Money Market, Debt and Equity:-

Equity Debt Money

Market

Equity Funds

Index Funds

Sector Funds

Fixed Income

Funds

Money

Market

Mutual Funds

Balanced Funds Liquid Funds

Gold Traded Exchange Fund

24

Benefits of Mutual Fund

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.

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.

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

and companies. Mutual Funds save your time and make investing easy and

convenient.

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.

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.

25

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.

Transparency

Regular information on the value of your investment in addition to disclosure on

the specific investments made by your scheme, the proportion invested in each

class of assets and the fund manager's investment strategy and outlook.

Flexibility

Through features such as regular investment plans, regular withdrawal plans

and dividend reinvestment plans, you can systematically invest or withdraw

funds according to your needs and convenience.

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.

Choice of Schemes

Mutual Funds offer a family of schemes to suit your varying needs over a

lifetime.

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.

26

Chapter 4

Company Profile

27

HDFC Asset Management Company Limited (AMC)

HDFC Asset Management Company Ltd (AMC) was incorporated under the

Companies Act, 1956, on December 10, 1999, and was approved to act as an

Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter

dated July 3, 2000.

The registered office of the AMC is situated at Computer Age Management

Services Pvt. Limited New No. 10, Old No. 178, M.G.R. Salai, Nungambakkam,

Chennai - 600 034.

In terms of the Investment Management Agreement, the Trustee has appointed

the HDFC Asset Management Company Limited to manage the Mutual Fund. The

paid up capital of the AMC is Rs. 25.169 crore. The present equity shareholding

pattern of the AMC is as follows:

Particulars % of the paid up

equity capital

Housing Development Finance Corporation

Limited

59.98

Standard Life Investments Limited 39.99

Other Shareholders (shares issued on

exercise of Stock Options)

0.03

Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual Fund,

following a review of its overall strategy, had decided to divest its Asset

Management business in India. The AMC had entered into an agreement with ZIC

to acquire the said business, subject to necessary regulatory approvals.

28

On obtaining the regulatory approvals, the following Schemes of Zurich India

Mutual Fund have migrated to HDFC Mutual Fund on June 19, 2003. These

Schemes have been renamed as follows:

Former Name New Name

Zurich India Equity Fund HDFC Equity Fund

Zurich India Prudence Fund HDFC Prudence Fund

Zurich India Capital Builder Fund HDFC Capital Builder Fund

Zurich India TaxSaver Fund HDFC TaxSaver

Zurich India Top 200 Fund HDFC Top 200 Fund

Zurich India High Interest Fund HDFC High Interest Fund

Zurich India Liquidity Fund HDFC Cash Management Fund

Zurich India Sovereign Gilt Fund HDFC Sovereign Gilt Fund

The AMC is also providing portfolio management / advisory services and such

activities are not in conflict with the activities of the Mutual Fund. The AMC has

renewed its registration from SEBI vide Registration No. - PM / INP000000506

dated December 21, 2009 to act as a Portfolio Manager under the SEBI (Portfolio

Managers) Regulations, 1993. The Certificate of Registration is valid from

January 1, 2010 to December 31, 2012.

29

Products

Children's Gift Fund

Children's Gift Fund

Debt/ Income Fund

Invest in money market

and debt instruments and

provide optimum balance

of yield.

Equity / Growth Fund

Invest primarily in equity

and equity related

instruments.

Exchange Traded Funds

Invest primarily in equity

and equity related

instruments.

Fund of Fund Schemes

Invests primarily in other

scheme(s) of the same

mutual fund or other

mutual funds

Fixed Maturity Plan

Invest primarily in Debt /

Money Market Instruments

and Government Securities.

Liquid Funds

Provide high level of

liquidity by investing in

money market and debt

instruments.

Quarterly Interval Fund

Generate regular income

through investments in

Debt / Money Market

Instruments..

30

Vision Statement

Sponsors

Housing Development Finance Corporation Limited (HDFC)

HDFC was incorporated in 1977 as the first specialized Mortgage Company in

India. HDFC provides financial assistance to individuals, corporate and

developers for the purchase or construction of residential housing. It also

provides property related services (e.g. property identification, sales services

and valuation), training and consultancy. Of these activities, housing finance

remains the dominant activity. HDFC has a client base of around 12 lac

borrowers, 9 lac depositors, over 2 lac shareholders and about 25,000 deposit

agents, as at March 31, 2011.

31

HDFC had raised funds from international agencies such as the World Bank, IFC

(Washington), USAID, DEG, ADB and international syndicated loans, domestic

term loans from banks and insurance companies, bonds and deposits. HDFC has

received the highest rating for its bonds and deposits program for the

seventeenth year in succession.

HDFC Standard Life Insurance Company Limited, promoted by HDFC was the

first life insurance company in the private sector to be granted a Certificate of

Registration (on October 23, 2000) by the Insurance Regulatory and

Development Authority to transact life insurance business in India.

Website: www.hdfc.com

Standard Life Investments Limited

Standard Life Investments was launched as an investment management

company in 1998. It is the dedicated investment management company of the

Standard Life group and is a wholly owned subsidiary of Standard Life

Investments (Holdings) Limited, which in turn is a wholly owned subsidiary of

StandardLifeplc. With global assets under management of approximately

US$251.9 billion as at March 31, 2011 Standard Life Investments Limited is one

of the world's major investment companies, operating in the UK, Canada, Hong

Kong, China, Korea, Ireland and the USA, and is responsible for investing money

on behalf of five million retail and institutional clients worldwide.

The Standard Life Assurance Company was established in 1825 and has

considerable experience in global financial markets. The company was present

in the Indian life insurance market from 1847 to 1938 when agencies were set

up in Kolkata and Mumbai. The company re-entered the Indian market in 1995,

when an agreement was signed with HDFC to launch an insurance joint venture.

32

In April 2006, the Board of The Standard Life Assurance Company

recommended that it should demutualise and Standard Life plc float on the

London Stock Exchange. At a Special General Meeting held in May voting

members overwhelmingly voted in favour of this. The Court of Session in

Scotland approved this in June and Standard Life plc floated on the London Stock

Exchange on 10th July 2006.

In order to meet the different needs and risk profiles of its clients, Standard Life

Investments Limited manages a diverse portfolio covering all of the major

markets world-wide, which includes a range of private and public equities,

government and company bonds, property investments and various derivative

instruments. The company's current holdings in UK equities account for

approximately 1.8% of the market capitalisation of the London Stock Exchange.

Website: www.standardlifeinvestments.com

Trustees

HDFC Trustee Company Limited, a company incorporated under the Companies

Act, 1956 is the Trustee to HDFC Mutual Fund vides the Trust deed dated June 8,

2000, as amended from time to time. HDFC Trustee Company Ltd is wholly

owned subsidiary of HDFC

The Board of Directors of HDFC Trustee company Limited consists of the

Mr. Anil Kumar Hirjee

Mr. Vincent Joseph O’Brien

Mr. Shishir K. Diwanji

Mr. Ranjan Sanghi

Mr. V. Srinivasa Rangan

33

Registrar & Transfer Agents

Registered Office:

Computer Age Management Services Pvt. Limited

New No. 10, Old No. 178,

M.G.R. Salai, Nungambakkam,

Chennai - 600 034.

Computer Age Management Services Pvt. Ltd.,

Rayala Towers - I,

158 Anna Salai,

Chennai 600002.

Tel : (+91) 044 2852 0516

Fax : (+91) 044 4203 2952

Website : www.camsonline.com

Custodian

HDFC Bank Limited

Lodha - I Think Techno Campus Office, Floor 8,

Next to Kanjurmarg Railway Station

Kanjurmarg (East), Mumbai - 400 042.

Website: www.hdfcbank.com

Citibank N.A.

Global Securities & Fund Services (SFS), India,

3rd Floor, Trent House, Plot No. G-60, Bandra Kurla Complex

Bandra East, Mumbai – 400051

Website: www.citibank.com

34

The Bank of Nova Scotia

91-94, 3rd North Avenue,

Maker Maxity, Bandra-Kurla Complex,

Bandra (E), Mumbai – 400 051

Website: www.scotiabank.com

Currently, The Bank of Nova Scotia has been appointed as the custodian of

Portfolio Deposit (i.e. Physical Gold) for HDFC Gold Exchange Traded Fun

35

Chapter 5:

Theoretical Aspects of

the study

36

SWOT Analysis

Strength

Well-regained and reputed brand of HDFC.

Experience of Standard Life Investment.

Young and well qualified staff.

Well aware of customer need.

Large portfolio of schemes.

Weakness

Awareness of HDFC mutual Fund, separate from HDFC, is less.

Less presence of HDFC MF in rural market.

Opportunities

Day by day increasing Knowledge about Mutual Fund.

Due to high volatility of market investors may move towards mutual fund

Only instrument with proper corporate governance and comparatively

high return with lesser risk.

Rural market is totally untapped.

Threat

Increase in competition and competitor.

Threat of new foreign Players.

Cut-throat competition from broking houses

Stiff Competition from Banks

Market based on technology

37

Porter’s Five Forces Model of Competition

Barriers to entry

-Product differentiation very difficult -Licensing requirement

Threat of

substitute

-Non banking financial

sector increasing rapidly

-Deposits in posts

-Stock Market

-Deposit in banks

Investment in Insurance.

Bargaining power

of suppliers

-Nature of suppliers -Few alternatives -SEBI rules and regulations -Suppliers are not concentrated -forward integration

Bargaining power of

consumer very high

-Large no. of alternatives -Low switching costs -Undifferentiated services -Full information about the market

Threat of

competitors

-Large no of AMCs

-High market growth rate

-Low switching costs

-Undifferentiated services

-High fixed cost

-High exit barriers

38

Chapter 6:

Analysis of Schemes

39

3 Assets Management Company

1. HDFC Assets Management Company Limited

2. ICICI Assets Management Company Limited

3. Reliance Assets Management Company Limited

9 Equity Schemes of 3 Assets Management Company

HDFC

1. HDFC Top 200 Fund

2. HDFC Equity Fund

3. HDFC Prudence Fund

ICICI

4. ICICI Top 200 Fund

5. ICICI Discovery Fund

6. ICICI Dynamic Fund

RELIANCE

7. RELIANCE Vision Fund-Retail Plan

8. RELIANCE Growth Fund-Retail Plan

9. RELIANCE Regular Saving Fund

40

HDFC Top 200 Fund

Active Management:

Refers to the use of a human element, such as a single Manager, co-managers or

a team of managers, to actively manage a fund’s Portfolio.They rely on analytical

research, forecasts and their own judgement and experience in making

investment decisions. They believe it is possible to profit from the stock market

through any number of strategies that aim to identify mispriced securities.

Passive Management:

An investing strategy that mirrors a market index and does not attempt to beat

the market attempt to beat the market

Investment Strategy:

The investment portfolio for equity and equity linked instruments will be

Primarily drawn from the companies in the BSE 200 Index

The fund may also invest in listed companies that would qualify to be in the

top200 by market capitalisation on the BSE even though they may not be

listed on the BSE

41

Last 5 Year NAV (Net assets Value) and performance:

42

Return Given By Last Year and Compare with Sensex

Interpretation

HDFC top 200 funds was given good return in last 4 year specially in 2008 to

2011 you see in NAV diagram 2007to2011 and in other year will not given good

return but some of investor invest in like august or October may given good

return.

If we see in dividend the last 4 year dividend declared was rs.4 this is a well

return given by to investor and in last 5 year those who invest given 9.1 %return

and for 3 year 9.6% and 1 year loss of 5.3%.and seen in portfolio investment in

bank 21.33% and software 10.84% etc that’s reason the HDFC have good fund

manager with experience more than 9 year and handling with systematic way.

43

HDFC Equity Fund

Investing in strong companies…

Stronger companies reduce risk in bad times, both of the markets and of the

Industry. Preference for strong and well managed companies across

capitalization Preference for No. 1, 2 or 3 companies in the respective sectors /

segments Investment in mid caps is also targeted in strong companies in their

respective sectors.

Quality of diversification is more important that quantity

Investments in 10 stocks with high correlation is riskier than investments in 3

stocks with low correlation

Despite maintaining a focused portfolio the fund is reasonably diversified

across sectors

Care is taken to target low correlation across sectors (diversify across key

Economic risks / variables)

44

Last 5 Year NAV (Net assets Value) and performance:

45

Return Given By Last Year and Compare with Sensex

Interpretation

HDFC Equity funds was given good return in last 3 year specially in 2007 to

2010 you see in NAV diagram 2008to2010 and in other year will not given good

return but some of investor invest in like later of the year may given good

return.

If we see in dividend the last 5 year dividend declared was 5rs. this is a well

return given by to investor and in last 5 year those who invest given 8.2 %return

and for 3 year 12.3% and 1 year loss of 7.3% and seen in portfolio investment in

bank 16.27% and software 10.64% etc, in NAV & SENSEX diagram the graph is

high than benchmark of BSC 200 this indicate good return and profit generating.

46

HDFC Prudence Fund

A balanced fund is one that has a portfolio comprising debt instruments,

convertible securities, preference and equity shares Assets are generally held in

predefined proportion of debt / money market securities and equities Broadly,

balanced funds target returns greater than debt schemes with lower volatility

than equity schemes Balanced funds provide investors with the best of both

worlds; the returns of equity with the safety of debt

In the long term, the mix between equity and debt instruments is targeted

Between 40:75 and 60:25 respectively

In such times when the interest rates are high and equities are expensive,

investments in debt would be generally more attractive versus equities and

accordingly the fund would increase the debt component in the portfolio

47

Last 5 Year NAV (Net assets Value) and performance:

48

Return Given By Last Year and Compare with Sensex

Interpretation

HDFC prudence funds was given good return in last 4 year specially in 2007 to

2011, you see in NAV diagram 2007 to 2012 not in 2008-09 because the investor

touching to depression but some of investor invest in end of the year or starting

of the year may given good return.

If we see in dividend the last 5 year dividend declared was around 3 000 to 5.5

Rs. this is a well return given by to investor and in last 5 year those who invest

given 10.5 %return and for 3 year 15.5% and 1 year loss of 1.6% and seen in

portfolio investment in bank &software industry more because the growing

industry given always good, NAV & SENSEX diagram gap is like more than 50%.

49

ICICI Prudential Dynamic Fund

To generate capital appreciation by actively investing in equity and equity

related securities and for defensive consideration in debt / money market

instruments and derivative. The scheme is ranked 2 in Diversified Equity

category by Crisil. If you are already invested in this scheme, you may continue

to stay invested. But, do keep a check on its performance.

Investment Philosophy

This fund adopts a "Bottom-up" fundamental analysis strategy across market

capitalizations on a diversified basis, to identify and pick its investments. The

fund manager has the discretion to take aggressive or defensive asset calls,

based on market conditions

Key Benefits

It could be an ideal product in a volatile environment as it has the agility,

aimed at capturing upside opportunities in the market across market

capitalizations. On the flip side, it has the ability to switch to cash; thus seeking

to limit the downside, in case stock markets get into an overvalued position.

50

Last 5 Year NAV (Net assets Value) and performance:

51

Return Given By Last Year and Compare with Sensex

Interpretation

ICICI Dynamic funds was given good return in last 4 year specially in 2007 to

2011, you see in NAV diagram 07 to 11 not in 08-09 or 2011-12 because the bed

stock market but some of investor invest for a long time like 15 to 16 year and

taken advantage of fluctuation in stock market and taken risk given good return.

If we see in dividend of last 5 year dividend declared was around 2 Rs. only

compare to HDFC declared around 5rs. Those who invest for Last 5 year 7.5%

return and for 3 year 13.2% and 1 year loss of 1.9% and seen in portfolio

investment in bank & Pharma industry more and this co. growing more, NAV &

SENSEX diagram gap is like more than 30%, Were in HDFC funds so good.

52

ICICI Prudential Top 200 Fund

A multitude of choice could make it difficult to settle on anything. What looks

excellent today may not be that fruitful tomorrow, and what seems to be

hopeless today could be terrific tomorrow.

ICICI Prudential Top 200 Fund, an open-ended diversified equity fund allows

you to capture growth opportunities by constantly being on the lookout for out

the best sectors to invest in across multiple regions in the market.

Investment Philosophy

This fund seeks to optimize the risk-adjusted return by building a portfolio of

large and mid-cap stocks across select sectors. It follows a blend of top-down

macro research to identify growth sectors and bottom-up fundamental research

to identify stocks. It is a multi-sector fund focused on investing in carefully

selected stocks offering best possible risk-adjusted return across select sectors

with potential growth opportunities.

Key Benefits

It gives you a core large-cap portfolio with limited exposure to mid-cap stocks.

It gives you an edge by capturing the best sectoral opportunities in the market

53

Last 5 Year NAV (Net assets Value) and performance:

54

Return Given By Last Year and Compare with Sensex

Interpretation

ICICI top200 funds was given good return in last 5&4 year specially in 2007 to

2010, you see in NAV diagram 2007-08&2009-10 not in 08-09or 2011-12

because the US crisis but some of investor invest in LUMSUM and than after Do

STP for taken advantage average out NAV.

If we see in dividend of last 5 year dividend declared was around 1 Rs. Only

compare to HDFC Top 200 declared around 5rs. Those who invest for Last 5 year

only 2.1% return and for 3 year 8.5% and 2 year loss of 5.9%.and seen in

portfolio investment in bank & Software industry more and this co. growing

more, NAV & SENSEX diagram gap is so little and this fund given big losses to

investor and investor try to draw back money from this funds.

55

ICICI Prudential Discovery Fund

Open-ended Diversified Equity Fund, which aims to invest stocks available at a

discount to their intrinsic value, through a process of ‘Discovery’. The process

involves identifying companies that are well managed, fundamentally strong,

and are available at a price, which can be termed as a bargain.

Investment Philosophy

This fund adopts a "Bottom-up" strategy, to identify and pick its investments

based on an evaluation of several parameters such as Price / Earning, Price /

Book Value and Dividend Yield. The fund manager works towards building a

portfolio that is well diversified across sectors and constructed based on in-

depth research.

Key Benefits

It follows a value strategy of bargain hunting for intrinsically good stocks

As the potential value of the stocks in which the fund invests has not yet

been unlocked, the probability of growth is much higher.

56

Last 5 Year NAV (Net assets Value) and performance:

57

Return Given By Last Year and Compare with Sensex

Interpretation

ICICI Discovery funds was given good return in last 5 year specially in 2007 to

2012, you see in NAV diagram 2007-08&2009-12 not in 08-09 because the Bed

Indian financial problem and affected by Stock market but some of investor

invest in Debt fund and STP in equity fund this will help to generating profit.

If we see in dividend of last 5 year dividend declared was around 1.5rs.only

compare to HDFC equity or prudence declared around 5rs. Those who invest for

Last 5 year 11.5%return and for 3 year 20.% and seen in portfolio investment in

Pharma & Software industry more and this co. growing more, NAV &SENSEX

diagram gap is so high like 58 and this fund given good profit to investor

58

Reliance Growth Fund - retail plan

The primary investment objective of the Scheme is to achieve long-term growth

of capital by investment in equity and equity related securities through a

research based investment approach A Moderate Mid cap Oriented Fund. It is

mid-cap Fund with small exposure to large cap stocks. It is the fund is ideal for

those investors who are seeking a higher exposure to mid-cap s tocks for capital

appreciation & growth and considerably lower exposure to debt markets for

consistent returns Equity and Equity related instruments on account of its

volatile nature are subject to price fluctuations on daily basis.

The volatility in the value of the equity and equity related instruments is due to

various micro and macro economic factors affecting the securities markets. This

may have adverse impact on individual securities /sector and consequently on

the NAV of Scheme. Similarly, the inability to sell securities held in the schemes

portfolio may result, at times, in potential losses to the scheme, should there be a

subsequent decline in the value of the securities held in the schemes portfolio.

59

Last 5 Year NAV (Net assets Value) and performance:

60

Return Given By Last Year and Compare with Sensex

Interpretation

Reliance growth funds was given good return in last 2 year specially in 2007 to

2009, you see in NAV diagram 2007-08&2009-10 not in 08-09 because the Bed

Indian financial problem and affected by Stock market but some of investor

invest in Debt fund and STP in equity fund this will help to generating profit.

If we see in dividend of last 5 year dividend declared was around 20 to

1.5rs.only compare to HDFC equity or prudence declared around 5rs. Those who

invest for Last 5 year 5.% return and for 3 year 7.6.% and seen in portfolio

investment in Pharma & bank industry more and this co. growing more, NAV

&SENSEX diagram gap is so high like 10 and this fund given loss to investor in

past 5 year.

61

Reliance Vision Fund - Retail plan

Reliance Vision Fund was launched in October 1995, with an objective to achieve

long term growth of capital. One of the flagship schemes of Reliance Mutual

Fund, Reliance Vision Fund focuses on companies with Large size capitalization

with a small exposure to companies with a Mid size capitalization.

A Moderate Large-cap Oriented Fund. It is large-cap fund with a small exposure

to mid cap stocks. It is the fund is ideal for those investors who are seeking a

higher exposure to liquid large-cap stocks for capital appreciation & growth and

considerably lower exposure to debt markets for consistent returns.

For Scheme(s) which has completed more than 3 years, point to point returns

for twelve month periods for last 3 years is provided basis the last day of the

calendar quarter and are computed on absolute basis. Calculations assume that

all payouts during the period have been reinvested in the units of the scheme at

the then prevailing NAV

62

Last 5 Year NAV (Net assets Value) and performance:

63

Return Given By Last Year and Compare with Sensex

Interpretation

Reliance vision funds was not given good return in last 5 year as specially in 200

to 2012, you see in NAV diagram 2007-12 not in 09-10 because the Bed Indian

financial problem and changing the financial rules of Indian government &

affected by Stock market but some of investor invest in Debt fund and Cash

management fund & in equity fund this will help to generating profit.

If we see in dividend of last 5 year dividend declared were around 20 to 1.5 Rs.

Compare to HDFC & ICICI declared around 5 to Rs. Those who invest for Last 5

year 7.2% return and for 3 year 4.2.% loss and seen in portfolio investment in

engineering and auto mobile industry more and this co. growing more, NAV

&SENSEX diagram gap is so high like 2 to 3 and this fund given bed return.

64

Reliance Regular Savings Fund

An Aggressive Multi cap Oriented Fund. It is an aggressive multi cap oriented

portfolio. It is the fund is ideal for those investors who seek long term capital

growth by investing in a portfolio having the flexibility to capitalize on market

trends in volatile situations by adopting a multi-cap strategy The scheme

is ranked 3 in Diversified Equity category by Crisil.

If you are already invested in this scheme, you may consider switching to a

better performing scheme. Since inception returns (wherever provided) is

computed on Compounded Annualized Growth Returns (CAGR) basis. For

Scheme(s) which has completed more than 3 years, point to point returns for

twelve month periods for last 3 years is provided basis the last day of the

calendar quarter and are computed on absolute basis.

65

Last 5 Year NAV (Net assets Value) and performance:

66

Return Given By Last Year and Compare with Sensex

Interpretation

Reliance regular saving funds was given good return in last 4 year especially in

2007 to 2010, you see in NAV diagram 2007-08&2009-12 not in 08-09 because

the US market crisis and affected by Stock market but some of investor invest in

long term fund and gold fund and STP in liquid fund this will help to generating

profit.

If we see in dividend of last 5 year dividend declared was around 5 to 0.5 Rs.

Only compare to HDFC equity declared around 5rs. Those who invest for Last 5

year 8.7% return and for 3 year 7.9.% and seen in portfolio investment in

Pharma & banking industry more and this co. growing more, NAV &SENSEX

diagram gap is so high like 30 and this fund given so good profit to investor

67

Chapter 7:

Conclusion

68

If seen in the project the Indian mutual industry AMC performing well and

those who investor investing since last 5 to 10 year given more than 10 to

20% return.

The benefit of tax and dividend and portfolio will handle by experience fund

manager.

HDFC prudence and growth fund Reliance growth and vision funds and ICICI

Dynamic and Discovery fund given good return so we can say Indian mutual

fund industry given good opportunity for medium and poor people to

investment and saving purpose through the investment opportunity.

69

In finding the comparison of NAV most of the year the fluctuating the NAV

the reason the stock market the Indian mutual funds depend upon fully stock

market but the person investing for long time 100% profit given by AMC.

If investment in equity schemes the 1st year paying tax and then after the

return will made fully tax free so benefit and in SIP investment providing

platform for small investment opportunity and the broker all advise to

investor for investing in SIP.

Here in project the HDFC given good return compare to other Funds and for

last 3 year the HDFC have large Assets under management and HDFC top

200, HDFC Equity Funds & Prudence fund given 12 to 15% return and more

than 15 to 18 year given 23 to 26 % return. Show in diagram

70

Chapter 8:

Suggestions

71

In Services

Providing monthly account statement and quarterly account and facility to

providing daily news and other information.

If any investor want or not want then also providing internet through

E-services so customer will use information technology in daily life.

Providing necessary information related the brokerage and SIP year and

advantage will made by other investor or not so they can easily understand

the fact related of different funds.

Provide continent information like dividend, return and AMFI news to

investor.

In Mutual funds selling (Advisor)…

Selling only good if it is profitable if generate loss so don’t investing in those

types of funds.

Advisor will providing good and continent Facility and try to take less

brokerage so investor taken advantage of good profit.

In Operation..

Office will be fully Wi-Fi so all the investor or other trainee will access the

internet.

Increase the operation staffs so all the data forward to investor fast and if

the investor come and providing them faster services, and back at home at

that time they will be happy.

All the operation staff has company mobile phone so operation staff also

happy for services providing by company.

All the staff have LAN network so they faster talk with each other if any

work related information require.

72

Chapter 9:

Learning’s

73

Learning from the internship.

1st & 2nd Weeks (Training sessions)

From the Starting Days the internship will go well and in training sessions the

learned from the external guide so many and then after Appling in practical in

selling mutual funds. In training study of mutual fund industries and about the

concept of mutual funds and how working mutual fund and why people are not

interested or interested in investing money in mutual funds. First 3 day learning

of mutual fund industries than about HDFC mutual fund and other AMC, how all

the organization will work and will generating portfolio. Some of day will go

than after study of mutual fund schemes of HDFC mutual funds, like

HDFC Equity fund,

HDFC Top 200 Fund,

HDFC Growth Fund,

HDFC Prudence Fund,

HDFC Balanced Fund,

HDFC TaxSaver,

HDFC Gold Fund,

HDFC Gold Exchange Trade Fund,

HDFC Mid-Cap Opportunities Fund,

HDFC Monthly income plan,

HDFC Cash management Fund Etc.

Also study like

How many types of fund?

Which fund will be more risky and which will be more return given?

Why people investing 2 or 3 Day in Liquid Fund?

74

like types of mutual fund are Debt Fund & Equity Fund the manly this is two

types of funds in Debt fund study of Liquid fund, short term fund, gilt fund,

Hybrid fund, and in equity fund Study like index fund balanced fund Equity

linked und, Diversified fund Sectors fund.

Which types of investment falls under Section 80c, about section 80c?

What is SIP & benefit of SIP?

Why investing in SIP?

About tax slab and indexation calculation.

What is ULIP (unit linked insurance plan)?

What is difference Between ULIP and Mutual Fund?

What is a one year Bank FD rate, benefit of mutual fund?

What is STP (Systematic transfer plan)?

3rd & 7th Weeks (Selling of mutual funds)

Selling of mutual fund is main activity at the internship, after the completing of

training the project guide at HDFC mutual fund send the HDFC bank and from

the walking customers come and approaches and selling mutual funds.

“TRY AND TRY WILL BE YOU SUCCESSES”

From the starting day I have no idea to how to introduce customers about the

mutual fund and then after daily activity is only selling of mutual fund, but this

statement will be help full to me here daily meet more than 50 customers, I am

try my best and achieving my target in 2 month of selling more than 50 SIP.

During the selling time so many answers given by customers like…

I have no time,

This is all about enter in loss,

I am not interested sorry,

75

You lost your time please,

My Agent will done my investment,

My father will handling all investment,

All ready invested money,

My salary is so much low,

Market is not good

Not interested in market linked investment,

I have already HDFC mutual funds,

At that time I have Loan so all money invested their,

My plan to purchase a home,

Market is fluctuated so not right time to invest,

You are advisor of mutual funds,

You are the student so what you know about market I am in this field since 10

year,

External learning at HDFC BANK…..

Every day touch branch at 9.15 AM and selling mutual funds, and in extra time

or free time how branch operation will be arrange and all day at 9.30 AM

meeting with Branch manager and given task or target to all employ on the basis

of task and target all employ are working and next day all are reporting to

branch manager.

Some time I am free so I am help full to bank to given basic knowledge of net

banking and try to provide net banking facility at branch and given training to

Them at branch and how to generate or help full net banking in saving time and

speedy like if you want to Fixed deposit you will done at your home, Also

download 5 year statement, third party transaction, transfer money from one

account to other, from one bank to another bank And so many thing will do at

your home, and other thing like

76

Filling account opening form,

Some of knowledge regarding foreign exchange transactions,

How to selling insurance plan?

Why people more interested in fixed deposit,

Why people not taking risk,

Some of knowledge of loan rates

Credit card facility,

How to open account if person is outside India and then also him or her open

account in India?

Locker facility provided by bank,

77

My Selling Data

78

Chapter 10:

Bibliography

79

General Information or industry information

www.amphiindia.com www.moneycontrol.com www.sebi.gov.in http://www.amfiindia.com/showhtml.asp?page=mfconcept http://www.amfiindia.com/showhtml.asp?page=mfindustry http://www.sebi.gov.in/Index.jsp?contentDisp=Department&dep_id=4 http://shell.windows.com/fileassoc/0409/xml/redir.asp?Ext=pdf http://www.amfiindia.com/showhtml.asp?page=aum http://www.amfiindia.com/pu-showfundwiseaum.asp?admin=yn http://www.amfiindia.com/accounts_halfyearly.asp http://www.amfiindia.com/showhtml.asp?page=sitemap http://www.amfiindia.com/accounts_annual.asp

Company Information

www.hdfcfund.com

Data collection & Chart collection

http://www.hdfcfund.com/products/schemeShow.jsp?schemeId=342&fundID=1 http://www.hdfcfund.com/products/schemeShow.jsp?schemeId=342&fundID=1 http://www.hdfcfund.com/aboutus/index.jsp http://www.hdfcfund.com/fundschool/index.jsp http://www.hdfcfund.com/navcorner/index.jsp http://www.hdfcfund.com/products/schemeShow.jsp?schemeId=342&fundID=1 http://www.hdfcfund.com/products/schemeShow.jsp?schemeId=3&fundID=2 http://www.hdfcfund.com/news/index.jsp http://www.hdfcfund.com/download/sebiCirculatShow.jsp http://www.reliancemutual.com/ http://www.hdfcfund.com/ http://www.icicipruamc.com/Homepage.aspx file:///G:/study/MBA%20SEM%203/my/New%20folder/ICICI%20Prudential%20Discovery%20Fund%20%20%20Diversify%20your%20Equity%20Portfolio.htm file:///G:/study/MBA%20SEM%203/my/New%20folder/icici%20prudential%20dynamic%20plan%20%20.ht file:///G:/study/MBA%20SEM%203/my/New%20folder/ICICI%20Prudential%20Dynamic%20Plan%20(G)%20NAV%20%20%20ICICI%20Prudential%20Mutual%20Fund%20%20%20ICICI%20Prudential%20Dynamic%20Plan%20(G)%20Investment.htm