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7/31/2019 project report on Funds Flow
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CFI^GI^S
) KG^AFNFBFDP
l) Hwins Klildgkgi~
e) ^p}gs fh Hwins Klildgkgi~
c) @ixgs~kgi~ ( Klildgkgi~
n) Cfi~gi~s fh Hwins Klildgkgi~
g) ^p}gs fh Hwins `i ANHC S^LINLUN B@HG @ISWULICG
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@INWS^UP ]UFH@BG
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@INWS^UP ]UFH@BG
Tal~ `s `iswulicg6
@iswulicg `s l cfi~ulc~ eg~tggi ~tf }lu~`gs tagug ep fig }lu~p
clbbgn `iswugu wingu~ljgs `i gqcalidg hfu l h`qgn swk clbbgn }ugk`wks"
}lp ~ag f~agu }lu~p al}}gi`id fh l cgu~l`i gxgi~)
@iswulicg `s l }uf~gc~`fi ldl`is~ l h`ilic`lb bfss lu`s`id fi ~ag
al}}gi`id fh li wigq}gc~gn gxgi~) @iswulicg cfk}li`gs cfbbgc~
}ugk`wks ~f }ufx`ng hfu ~a`s }uf~gc~`fi) L bfss `s }l`n fw~ fh ~a`s
}ugk`wk cfbbgc~gn hufk ~ag `iswu`id }web`c) ^ag `iswulicg cfk}lip lc~
ls l ~uws~gg ~f ~ag lkfwi~ cfbbgc~gn ~aufwda }ugk`wk)
^ag @iswulicg `s dgigulbbp cblss`h`gn `i ~augg kl`i cl~gdfu`gs
!` B`hg iswulicg
!`` Aglb~a iswulicg
!``` Dgigulb iswulicg
^f dg~ `iswulicg li `in`x`nwlb fu li fudli`zl~`fi cli l}}uflca ~f li
`iswulicg cfk}lip n`ugc~bp" ~aufwda `iswulicg ldgi~ fh ~ag cficguign
cfk}lip fu ~aufwda `i~gukgn`lu`gs)
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@iswulicg inws~up
@in`l `s ~ag bludgs~ ngkfculcp `i ~ag tfubn alx`id l }f}wbl~`fi
kfug ~ali fig e`bb`fi) @~ `s 7~a bludgs~ `i ~ag tfubn `i ~guks fh }wucals`id
}ftgu }lu`~p) @in`l DN] duft~a ul~g `s fxgu 8 }gucgi~ }gu pglu fi
lxguldg hfu ~ag bls~ ngclng lin slx`id ul~g `s lufwin 58 }gucgi~ fh
DN])
^aufwda @in`ls gcfifk`c ngxgbf}kgi~" `~ egcfkgs ~ag kfs~
bwcul~`xg `iswulicg klujg~s `i ~ag tfubn) Eghfug ~ag pglu
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A@S^FUP
@iswulicg `inws~u`gs `i @in`l alxg l bfid a`s~fup) B`hg `iswulicg `i
gq`s~`id hfuk clkg `i @in`l hufk WJ `i
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@ISWULICG UGDWBL^FUP LW^AFU@^P
Fi ~ag ugcfkkginl~`fi fh lk}aful cfkk`~~gg" li `iswulicg
ngxgbf}kgi~ lc~ !@UNL }lssgn ep @in`li }lub`lkgi~ `i
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U@NGUS LIN F]^@FIS
]GUSFILB LCCGINGI^LB EGIGH@^S
@h ~ag `iswugn n`gs ls l ugswb~ fh li lcc`ngi~" ~ag `iswugu t`bb }lp ~ag
egigh`c`lup" `i lnn`~`fi ~f ~ag els`c ngl~a egigh`~ ~t`cg fu ~au`cg fh ~ag
els`c ngl~a egigh`~) ^ag ngl~a kws~ alxg eggi clwsgn `ing}gingi~bp fh
lbb f~agu clwsgs ew~ n`ugc~bp ep li lcc`ngi~lb efn`bp `iowup) @i ~ag clsg fh
lip }gukligi~ n`sle`b`~p ls l ugswb~ fh lcc`ngi~ ~ag b`hg `iswugn t`bb dg~
g`~agu l tlx`gu fh 7 fu
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NUGLNGN N@SGLSG EGIGH@^
^a`s }ufx`ngs l }fu~`fi fh ~ag }fb`cp fh ~ag }fb`cps swk lsswugn `h
fig swhhgus hufk fig fh ~ag s}gc`h`gn n`sglsgs b`jg clicgu" L@NS" fu
wingudfgs ep}lss swudgup lin ~ag ugkl`ingu t`bb eg }l`n ~f ~ag
egigh`c`lup l~ ~ag ngl~a) ^ag cfxgu `s fhhgugn hfu l klq`kwk ldg fh 87
fu 4= pglus)
KLOFU SWUD@CLB LSS@S^LICG
^a`s }ufx`ngs h`ilic`lb `h ~ag `iswugn }gusfis iggns lip fh ~ag
s}gc`h`gnswud`clb }ufcgnwug nwu`id ~ag ~gilicp fh ~ag }fb`c`gs) Wingu
~a`s scagkg l }gucgi~ldg fh ~ag swk lsswugn `s }l`n hfu sfkg klofu"
`i~gukgn`l~g lin k`ifu swudgu`gs) ^ag `s }ufx`ngn gxgi hfu kfug ~ali
fig swca fccls`fis ew~ ~ag ~f~lb egigh`~ t`bb if~ gqcggn l s}gc`h`gn b`k`~"
wswlbbp 7=' fh ~ag swk lsswugn)
TLX@GU FH ]UGK@WK
@h ~ag `iswugn `s n`slebgn nwg ~f lcc`ngi~" ~ag u`ngu ~f }wucalsg
lnn`~`filb `iswulicg cfxguldg dfgs `i~f ghhgc~ lw~fkl~`clbbp t`~afw~
lsj`id hfu gq~ul }ugk`wk)
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A@JG SWKLSSWULCIG
Lip ~`kg nwu`id ~ag ~gilicp fh ~ag }fb`cp" ~ag `iswugn als ~ag
u`da~ ~f }wucalsg lnn`~ filb `iswulicg g|wlb ~f ~ag elsg `iswulicg
t ~afw~ sw}}bp`id gx`ngicg fh `iswule`b`~p) Hfu gqlk}bg ~ag u`ngu
l~~lcagn ~f 7 blja `i clsg fh pfwu kluu`ldg" lif~agu < blja l~ ~ag Ca`bns
e`u~a fu ~ag ca`bn df`id ~f scaffb) Aft gxgu ~a`s u`ngu kfs~bp b`k`~s ~ag
egigh`~s ep }w~~`id l ugs~u`c~`fi fi ~ag klq`kwk ldg lh~gu ta`ca pfw
cli~ gqguc`sg ~ag f}~`fi)
S]FWSG @ISWULICG
Pfw cli cfxgu pfwu s}fwsg t`~afw~ alx`id ~f gi~gu l igt
cfi~ulc~ lin if~ ~lj`id l hugsa }fb`cp `i a`s&agu ilkg
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UGIGT&CFIXGU^ EGIGH@^
Lh~gu ~ag h`qgn ~guk fh ~ag }fb`cp" `~ `s ugigtgn hfu lif~agu ~guk
t`~afw~ ug|w`u`id gx`ngicg fh `iswule`b`~p) Cfixgu~`ebg egigh`~ }ufx`ngs
~ag f}~`fi ~f cfixgu~ `~ `i~f lif~agu }fb`cp fh ~ag slkg swk lsswugn)
GQCBWS@FI @I ^AG U@NGUS?
^ag `iswulicg `s if~ l}}b`clebg tagug ~ag ngl~a fccwus
nwg ~f sw`c`ng" tlu" lin s~u`jg" c`x`b cfkkf~`fi" iwcbglu }gu`bs"
g~c) ngl~a nwg ~f lcc`ngi~ `i lx`l~fus `s if~ lxl`blebg ~f ~afsg
taf alxg if~ }l`n hlug hfu ~ulxgb`id) Ngl~a nwg ~f `ihbwgicg fh
nuwds" lbcfafb" ilucf~`cs fu }spcaf~`cs swes~licgs"
}lu~`c`}l~`fi `i cu`k`ilb lin wiblthwb lc~s t bb ngelu ~ag
`iswugn hufk dg~~`id ~ag egigh`~) ^agug `s l klq`kwk b`k`~ fi
cfxguldg wingu glca u`ngu `uugs}gc~`xg fh ~ag iwkegu fh els`s
}fb`cgs ~ag `iswugn als }wucalsgn) Hfu nuglngn n`sglsg
u`ngus" `h `~ fccwus t`~a`i l s}gc`h`gn }gu`fn) ^agi ~ag egigh`~ `s
if~ }lplebg)
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SFKG NFS LIN NFI^S
CA@BNUGIS ]FB@CGS?
^agug lug l }bg~aful fh }fb`cgs ngs`dign hfu ca`bnugi) @ nf if~
wingus~lin ~ag }wu}fsg fh ~ag`u gq`s~gicg) @i kfs~ clsgs" l ca`bn `s if~ l
euglnt`iigu lin a`s ngk`sg tfwbn kljg if n`hhgugicg ~f ~ag h`ilic`lb
s~l~ws fh ~ag hlk`bp) ^ag kl`i lnxli~ldg cbl`kgn ep ~ag `iswugu `s ~al~ `~
`s eg~~gu ~f `ixgs~ ~ag kfigp `i l sps~gkl~`c ng}fs`~s }bli ~f kljg `~
duft hls~gu) ^a`s duft~a tfwbn eg lebg ~f sw}}fu~ if~ fibp ~ag a`dagu
}ugk`wks ew~ lbsf l a`dagu swk lsswugn)
ELCJ NL^@ID L ]FB@CP?
Klip ldgi~s ug|wgs~ ~ag }uf}figi~s ~f elcj nl~g ~ag }fb`cp" l
hlxfwu ~f gilebg ~agk ~f uglca ~ag`u ~ludg~s }guhfuklicg) Lif~agu
ludwkgi~ `s ~al~ ~ag }fb`cp t`bb kl~wug hls~gu) S`di`id l cfi~ulc~ hfu b`hg
cfxgu t`~a ug~ufs}gc~`xg ghhgc~ `s s~w}`n`~p fh ~ag a`dags~ fungu: `~ kglis
~al~ ~ag b`hg tls cfxgugn hfu l }gu`fn tagi ~ag `in`x`nwlb tls xgup kwca
lb`xg)
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BFLIS
Bflis cli eg fe~l`ign fi wigicwkegugn }fb`cgs hfu }wucalsgs fh
afws`id }uf}gu~`gs fi lss`dikgi~ fh li `iswulicg }fb`cp hufk ~ag elijs
fu afws`id h`ilicg cfk}li`gs!}lu~`cwblubp hufk B@C afws`id h`ilicg fu
hfu lip f~agu }wu}fsg l~ l agl} ul~gs) ^ag lkfwi~ lxl`blebg `s w} ~f
0=' fh swuugingu xlbwg wingu }fb`cgs" ta`ca lug `i hfucg hfu hwbb swk
lsswugn w} ~f 17' fh swuugingu xlbwg fi }fb`cgs" ta`ca lug }l`n w} hfu
ugnwcgn swk lsswugn)
@~ `s lbsf }fss`ebg ~f dg~ ~ag swuugingu xlbwg fh ~ag }fb`cp hufk B@C
l~ lip ~`kg) Lb~guil~`xgbp" `~ `s lbsf }fss`ebg ~f cfixgu~ `~ `i~f l }l`n w}
}fb`cp) ^agug ep slx`id ~ag s~ugss fh }lp`id hw~wug }ugk`wks lin
s`kwb~ligfwsbp" dg~~`id ~ag }l`n+w} xlbwg lh~gu bfid ~guk fh ~ag }fb`cp fu
fi }u`fu ngl~a" ta`ca gxgu `s glub`gu6 Pgs" lbb ~a`s d`xgs ~ag }uf}figi~ l
cfkhfu~ ew~ ~a`s safwbn if~ eg ~ag uglsfis hfu caffs`id ~ag cfxgu)
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J@CJELCJS?
Wingu lip c`ucwks~licgs" nf if~ lccg}~ lip j`cj hufk ~ag
ldgi~) H`us~" `~ `s `bbgdlb ~f nf sf W&S >< fh ~ag `iswulicg lc~"
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^LQEGIGH@^S
B`hg `iswulicg `s l ebwg+gpgn elep ta`ca als eggi egs~ftgn t`~a
kwca ~lq cficgss`fi) ^lq ugel~g w&s 11 `s lxl blebg `i ugs}gc~ fh
}ugk`wks }l`n fi }fb`cgs `i ~ag ilkg fh sgbh" s}fwsg fu ca`bnugi" klofu
fu k`ifu" gxgi kluu`gn nlwda~gus)
Wingu Sgc~`fi 11!5``" swks }l`n l ng}fs`~gn ~f ghhgc~ fu ~f jgg}
`i hfucg l cfi~ulc~ hfu l nghguugn liiw`~p `s gb`d`ebg hfu ugel~g }ufx`ngn
~al~ swca cfi~ulc~ nfgs if~ cfi~l`i l }ufx`s`fi hfu ~ag gqguc`sg ep ~ag
`iswugn fh li f}~`fi ~f ugcg`xg l clsa }lpkgi~ `i b`gw fh ~ag }lpkgi~ fh
~ag liiw`~p) Lip }fb`cp t`~a swca l cblwsg safwbn eg lxf`ngn)
Tagug l ~lq}lpgu n`scfi~`iwg li l }fb`cp eghfug }ugk`wks hfu
~tf pglus alxg eggi }l`n" lbb ugel~gs lbbftgn nwu`id glub`gu pglus salbb
eg t`~a nulti lin salbb eg nggkgn ~f eg ~lq }lplebg `i ~ag pglu `i
ta`ca ~ag }fb`cp `s n`scfi~`iwgn)
Kfigp ugcg`xgn wingu l b hg fu lcc`ngi~lb }fb`cp ghhgc~gn `i
}gusfilb fu hlk`bp `i~gugs~ `s l cl}`~lb ugcg`}~ lin ~agughfug if~ ~lqlebg"
g`~agu ls ifuklb `icfkg fu ls cl}`~lb dl`is)
@i ~ag clsg fh b`hg liiw`~p" ~ag lkfwi~ `is~lbbkgi~ t`bb eg ~ugl~gn
ls `icfkg hfuk f~agu sfwucgs `i ~ag clsg fh liiw`~p cgu~l`i" ~ag `i~gugs~
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}fu~`fi fu ~ag liiw`~p `is~lbbkgi~s `s ~ugl~gn ls `icfkg) @h clsa f}~`fi `s
gqguc`sgn" ~ag n`hhgugicg eg~tggi ~ag lkfwi~ fh clsa f}~`fi ugcg`xgn
lin ~ag ~f~lb lkfwi~ fh }ugk`wks }l`n `s ~ugl~gn ls ~lqlebg `icfkg)
^f cfwi~gu ~a`s HLF3 `isgu~gn sgc)11!5L ~f }ufx`ng ~al~ ~ag
ugel~g `i ugs}gc~ fh }ugk`wk fu f~agu }lpkgi~s klng fi li `iswulicg
}fb`cp" f~agu ~ali l cfi~ulc~ hfu l n`hhgugn liiw`~p" salbb eg lxl`blebg ls
`s if~ `i gqcgss fh 5= ' fh ~ag lc~wlb cl} ~lb swk lsswug) Sgc
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~guk cfkk`~kgi~ hfu swca }fb`cgs) ^agughfug" B@C nuf}}gn l sbgt fh
}ufnwc~s hufk `~s s~lebg `i Ifxgkegu)
EGIGH@^S FH @ISWULICG?
@iswulicg `s ~ag `is~uwkgi~ fh sgcwu`~p" slx`id lin }glcg fh k`in)
@~ }ufx`ngs sgxgulb egigh`~s ep }lp`id l sklbb lkfwi~ fh }ugk`wk ~f li
`iswulicg cfk}lip ls?
Slhgdwluns figsgbh `h lin figs hlk`bp hfu hw~wug ug|w`ugkgi~s)
]glcg fh k`in+`i+clsg fh h`ilic`lb bfss
Gicfwuld`id slx`id
^lq ugel~g
]uf~gc~`fi hufk ~ag cbl`k klng ep cugn`~fus
Sgcwu`~p ldl`is~ l }gusfilb bfli" afws`id bfli fu f~agu ~p}gs fh
bfli)
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CFK]LIP ]UFH@BG
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CFK]LIP ]UFH@BG
ANHC S~linlun B`hg @iswulicg Cfk}lip B~n) `s fig fh @in`l$s
bgln`id }u`xl~g b`hg `iswulicg Cfk}li`gs" ta`ca fhhgus l ulidg fh
`in`x`nwlb lin dufw} `iswulicg sfbw~`fis) @~ `s l of`i~ xgi~wug eg~tggi
Afws`id Ngxgbf}kgi~ H`ilicg Cfu}ful~`fi B`k`~gn !ANHC B~n)" @in`l$s
bgln`id afws`id h`ilicg `is~`~w~`fi `icfu}ful~gn `i ~ag pglu
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Eu`gh }ufh`bg fh ~ag Eflun fh N`ugc~fus
Ku) Ngg}lj S ]lugja `s ~ag Cal`ukli fh ~ag Cfk}lip) Ag `s
lbsf ~ag Gqgcw~`xg Cal`ukli fh Afws`id Ngxgbf}kgi~ H`ilicg
Cfu}ful~ fi B`k`~gn !ANHC B`k`~gn) Ag of`ign ANHC B`k`~gn `i l
sgi`fu klildgkgi~ }fs`~`fi `i
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Ks) Kluc`l N Clk}egbb `s cwuugi~bp ~ag Dufw} F}gul~`fis
N`ugc~fu `i ~ag S~linlun B`hg dufw} lin `s ugs}fis`ebg hfu Dufw}
F}gul~`fis" Ls`l ]lc`h c Ngxgbf}kgi~" S~ul~gdp ( ]blii`id"
Cfu}ful~g Ugs}fis`e b`~p lin Salugn Sgux`cgs Cgi~ug) Ks)
Clk}egbb of`ign ~ag Eflun fh N`ugc~fus `i Ifxgkegu 5==7)
Ku) Jg`~a I Sjgfca `s cwuugi~bp ~ag Ca`gh Gqgcw~`xg `i S~linlun
B hg @ixgs~kgi~s B`k`~gn lin `s ugs}fis`ebg hfu fxgusgg`id
@ixgs~kgi~ ]ufcgss ( Ca`gh Gqgcw~`xg Fhh`cgu Hwic~`fi) Ag tls
lbsf ugs}fis`ebg hfu Gcfifk`c lin @ixgs~kgi~ S~ul~gdp ugsgluca
}ufnwcgn fi l tfubnt`ng els`s) Ku) Sjgfca of`ign ~ag Eflun fh
N`ugc~fus i Ifxgkegu 5==7)
Ku) Dlw~lk U N`xli `s l }ulc~`c`id Calu~gugn Lccfwi~li~ lin `s
l Hgbbft fh ~ag @is~`~w~g fh Calu~gugn Lccfwi~li~s fh @in`l) Ku)
N`xli als t`ng gq}gu`gicg `i lwn`~`id lccfwi~s fh bludg }web`c
b`k`~gn cfk}li`gs lin il~`filb`zgn elijs" h`ilic`lb lin ~lql~`fi
}blii`id fh `in`x`nwlbs lin b`k ~gn cfk}li`gs lin lbsf als
swes~li~`lb gq}gu`gicg `i s~uwc~wu`id fxgusgls `ixgs~kgi~s ~f lin
hufk @in`l)
Ku) Ulioli ]li~ `s l dbfelb Klildgkgi~ Cfiswb~li~ lnx`s`id
CGF&Efluns fi S~ul~gdp lin Calidg Klildgkgi~) Ku) ]li~"
wi~`b 5==5 tls l ]lu~igu ( X`cg+]ugs`ngi~ l~ El`i ( Cfk}lip"
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@ic)" Efs~fi" tagug ag bgn ~ag tfubnt`ng W~`b`~p ]ulc~`cg) Ag tls
lbsf N`ugc~fu" Cfu}ful~g Ews`igss Ngxgbf}kgi~ l~ Dgigulb
Gbgc~u`c agln|wlu~gus `i Hl`uh`gbn" WSL) Ku) ]li~ als li KEL
hufk ^ag Talu~fi Scaffb lin EG !Afifwus hufk E`ubl @is~`~w~g fh
^gcaifbfdp lin Sc`gicgs)
Ku) Ulx` Ilul`i `s ~ag Klild`id N`ugc~fu ( CGF fh Il~`filb
S~fcj Gqcalidg fh @in`l B`k`~gn) Ku) Ulx` Ilul`i tls l kgkegu
fh ~ag cfug ~glk ~f sg~+w} ~ag Sgcwu`~`gs ( Gqcalidg Eflun fh
@in`l !SGE@ lin `s lbsf lssfc`l~gn t`~a xlu`fws cfkk`~~ggs fh
SGE@ lin ~ag Ugsguxg Elij fh @in`l !UE@)
Ku) Ngg}lj K Sl~tlbgjlu `s ~ag Klild`id N`ugc~fu lin CGF fh
~ag Cfk}lip s`icg Ifxgkegu" 5===) ]u`fu ~f ~a`s" ag tls ~ag
Klild`id N`ugc~fu fh ANHC B`k`~gn s`icg
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JGP S^UGID^AS
H`ilic`lb Gq}gu~`sg
Ls l of`i~ xgi~wug fh bgln`id h`ilic`lb sgux`cgs dufw}s" ANHC S~linlun
B hg als ~ag h`ilic`lb gq}gu~`sg ug|w`ugn ~f klildg ~ag bfid+~guk
`ixgs~kgi~s slhgbp lin ghh`c`gi~bp)
Ulidg fh Sfbw~`fis
ANHC S~linlun B`hg @iswulicg als l ulidg fh `in`x`nwlb lin dufw}
sfbw~`fis" ta`ca cli eg gls`bp cws~fk`zgn ~f s}gc`h`c iggns) ^ag dufw}
sfbw~ fis alxg eggi ngs`dign ~f fhhgu cws~fkgu cfk}bg~g hbgq`e`b ~p
cfke`ign t`~a l bft calud`id s~uwc~wug)
^ulcj Ugcfun sf hlu
^ag dufss }ugk`wk `icfkg" hfu ~ag pglu gin`id Kluca 3
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LEFW^ ^AG ]UFNWC^S
ANHC s~linlun b`hg `iswulicg }ufnwc~s `icbwng l eufln luulp fh
b`hg `iswulicg cfxguldg ~f ef~a `in`x`nwlbs lin dufw}s) ^ag cfk}lip
als b`hg }ufnwc~s tagug ls `in`x`nwlbs: `~ als ~guk }ufnwc~s" ginftkgi~
}ufnwc~s ls tgbb ls kfigp elcj }ufnwc~s) ANHC }fb cgs alxg kfug
ngklin `i ~ag WB@]S }fb`cgs) ^agsg lug ~ag }fb`cgs ta`ca alxg l xgup
dffn ngklin `i klujg~) ^agsg }fb`cgs fibp }fb`cgs d`xg kfug }ufh`~ ~f
cfk}lip cfk}lugn ~f ~ag ~uln`~`filb }fb`cgs) ^uln`~`filb }fb`cgs lug ~ag
kf~agu }fb`cgs ~f lbb `iswulicg cfk}li`gs
^ag hfbbft`id lug sfkg fh ~ag }fb`cgs d`xgi ep ANHC?
Wi`~ b`ijgn ginftkgi~ }bws
Wi`~ b`ijgn ginftkgi~
Wi`~ b`ijgn pfwids~gu }bws
Wi`~ b`ijgn pfwids~gu
Wi`~ b`ijgn }gis`fi
Wi`~ b`ijgn }gis`fi }bws
Ginftkgi~ lsswulicg
^guk lsswulicg
Kfigp elcj }fb`cp
S`idbg }ugk`wk tafbg b`hg
Bfli cfxgu ~guk lsswulicg
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FEOGC^@XGS
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Iggn Fh ~ag s~wnp
Gxgup cfk}lip ~ugl~s hwins klildgkgi~ `s xgup gssgi~`lb egclwsg
`~s kl`i l`k `s ~f w~ b`zg ~ag hwins ghhgc~`xgbp lin ghh`c`gi~bp) @h ~ag
cfk}lip w~`b`zgs ~ag hwins ghhgc~`xgbp lin ghh`c`gi~bp" tg cli `icuglsg
~ag }guhfuklicg fh ~ag cfk}lip" ta`ca bglns ~f ~ag gcfifk`c duft~a fh
~ag cfwi~up) @i ~a`s cfi~gq~ ~a`s s~wnp fi klildgkgi~ fh hwins `i ~ag
fudli`zl~`fi t`bb eg wsghwb hfu ~ag fudli`zl~`fi ~f klildgn ~ag hwins
ghhgc~`xgbp)
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KG^AFNFBFDP
^AG S^WNP ELS@CLBBP NG]GINS FI
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@I^UFNWC^@FI
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Hwins Klildgkgi~
@i~ufnwc~`fi?
@i @in`l tg lug wsgn ~f ~ag cficg}~ fh }ufhgss`filb hwin
klildgkgi~) ^fnlp" l afs~ fh hwins lug lxl blebg ~f `ixgs~fus) L
wi`hp`id hgl~wug fh lbb fh ~agsg hwins `s ~al~ ~agp lug lbb lc~`xgbp klildgn
hwins) Hwins klildgus sgbgc~ l }fu~hfb`f fh s~fcjs sf ls ~f dg~ ug~wuis)
@~ d`xgs li fxgux`gt fh ~ag tafbg ews`igss lin gq}bfugs ~ag }ufcgss lin
~gcai`|wgs fh hwin klildgkgi~" }guhfuklicg kglswugkgi~ lin hwin
lnk`i`s~ul~`fi)
Hwins Klildgkgi~?
Hwins klildgkgi~ }ufhgss`filbs lbsf iggn ~f eg lebg ~f ~ulng
|w`cjbp ~f ugs}fin ~f klujg~ cfin`~`fis) ^agp tli~ ~f hfbbft ~ag klujg~s
lin jgg} leugls~ fh s`di`h`cli~ ngxgbf}kgi~s ta`bg ufw~`id fungus) Sf"
~agp bffj hfu sgux`cgs ~al~ }ufx`ng igts" uglb+~`kg }u`cg nl~l lin ~ulng
cfiigc~`x`~p hufk ~ag slkg ngsj~f} i~guhlcg)
Hwins klildgkgi~ }ufhgss`filbs l`k hfu egs~ }u`cg lin gqgcw~`fi
fi ~ag`u ~ulng fungus" ug|w`ugs lccgss ~f l t`ng }ffb fh b`|w`n`~p ~f ~ulng
ghh`c`gi~bp) ^agp bffj hfu ~ulng fungu ufw~`id sps~gks ~al~ lbbft ~agk ~f
n`ugc~ ~ag`u ~ulng ~f kwb~`}bg eufjgus) ^agp iggn ~f eg lebg ~f ~ulcj ~ulng
fungus" cagcj ~ag xlbwg fh gqgcw~gn ~ulngs lin `i~gdul~g fungu
`ihfukl~`fi)
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Ngh`i`~`fi?
Hwin Klildgkgi~
@ixgs~kgi~ fh lin lnk`i`s~gu`id l |wli~`~p fh kfigp" gd) }gis`fi hwin" `iswulicghwin" fi egalbh fh ~ag hwins ftigus)
Cfk}figi~s fh hwins klildgkgi~?
Kfigp?
L cfkkfn`~p fu lssg~" swca ls dfbn" li fhh`c`lbbp `sswgn cwuugicp"
cf`i fu }l}gu if~g" ~al~ cli eg bgdlbbp gqcalidgn hfu sfkg~a`id
g|w`xlbgi~" swca ls dffns fu sgux`cgs)
]fu~hfb`f Klildgkgi~?
^ag lu~ lin sc`gicg fh klj`id ngc`s`fis lefw~ `ixgs~kgi~ k`q lin
}fb`cp" kl~ca`id `ixgs~kgi~s ~f feogc~`xgs" lssg~s lbbfcl~`fi hfu
`in`x`nwlbs lin `is~`~w~`fis lin elblic`id u`sj) @~ `s x`~lb ~f klildg
`ixgs~kgi~s ls }lu~s fh wi`h`gn }fu~hfb`f) ^a`s `s fibp tlp ~f lca`gxg ~ag
elblicg lin n`xgus`h cl~ fi) ^agug `s l iggn ~f b`k ~ ~ag u`sj ~f
uglsfilebg bgxgbs) ^ag }fu~hfb`f klildgu lbsf als ~f jift aft ~f uwi
~ag }fu~hfb`f `i fungu ~f }ufnwcg duft~a nwu`id glubp s~ldgs fh ~ag
`ixgs~kgi~ cluggu)
]fu~hfb`f klildgkgi~ `s lbb lefw~ s~ugid~as" tgljigssgs"
f}}fu~wi`~`gs" lin ~augl~s `i ~ag caf`cg fh nge~ xs) g|w`~p" nfkgs~`c xs)
`i~guil~ filb" duft~a xs) slhg~p lin iwkgufws f~agu ~ulng+fhhs
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gicfwi~gugn `i ~ag l~~gk}~ ~f klq`k`zg ug~wui l~ l d`xgi l}}g~`~g hfu
u`sj)
Kfigp Klildgkgi~?
^ag }ufcgss fh ewndg~`id" slx`id" `ixgs~`id" s}gin`id fu f~agut`sg `i
fxgusgg`id ~ag clsa wsldg fh li `in`x`nwlb fu dufw}) ^ag }ugnfk`ili~
wsg fh ~ag }aulsg `i h`ilic`lb klujg~s `s ~al~ fh li `ixgs~kgi~
}ufhgss`filb klj`id `ixgs~kgi~ ngc`s`fis hfu bludg }ffbs fh hwins)
@ixgs~kgi~ L}}uflcags?
@ixgs~kgi~ hfcws `s elsgn fi ~ag }u`klup feogc~`xg fh }uf~gc~`id lin
dgigul~`id dffn lin cfis`s~gi~ ixgs~kgi~ ug~wuis ~f kl~ca ~ag
`ixgs~fus bfid+~guk feogc~`xg lin ug~wui gq}gc~l~`fis) ag ixgs~kgi~
l}}uflcags lug fh 5 ~p}gs)
l) @ixgs~kgi~ }ufcgsse) U`sj klildgkgi~
L) @ixgs~kgi~ }ufcgss?
^ag klildgu t`~a ~ag egb`gh ~al~ fxgu ~ag kgn`wk lin bfid ~guk" t`bb
eg lebg ~f }guhfuk ~ag egicakluj) A`da |wlb`~p ugsgluca `s ~agughfug
s~fcj fu sgc~fu fu lssg~ cli eg `ihbwicgn ep b`|w`n`~p fu f~agu swca
hlc~fus `i ~ag safu~ ~guk" fxgu ~ag bfid ~guk klujg~ }u`cgs elsgn fi
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hwinlkgi~lb xlbwgs) Hfu ~a`s uglsfi `ixgs~kgi~ }ufcgss `s elsgn fi
~ag hwinlkgi~lb gxlbwl~`fi fh glca in`x`nwlb sgcwu`~p)
E) U`sj klildgkgi~?
U`sj klildgkgi~ `s l cu`~`clb hwic~`fi `i ~ag `ixgs~kgi~ }ufcgss lin
`s kfi`~fugn l~ kwb~`}bg bgxgbs b`jg hwin u`sj" f}gul~`filb u`sj" klujg~ u`sj
lin s~fcj fu `is~uwkgi~ s}gc`h`c u`sj) N`sc`}b`ig `s cu`~`clb `i klild`id
hwins fxgu l bfid~`kg)
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^p}gs Fh Hwins Klildgkgi~?
Lc~`xg klildgkgi~?
Lc~`xg klildgkgi~ !lbsf clbbgn lc~`xg `ixgs~ id ughgus ~f l }fu~hfb`f
klildgkgi~ s~ul~gdp tagug ~ag klildgu kljgs s}gc`h`c `ixgs~kgi~s
t`~a ~ag dflb fh fw~}guhfuk`id l egicakluj `ingq)
@nglbbp" ~ag klildgu gq}bf`~s klujg~ `ighh`c`gic`gs ep }wucals`id
sgcwu`~`gs ~al~ lug winguxlbwgn" lin&fu !bgss hug|wgi~bp" safu~ sgbb`id
sgcwu`~`gs ~al~ lug fxguxlbwgn) Ng}gin`id fi ~ag dflbs fh ~ag s}gc`h`c
`ixgs~kgi~ }fu~hfb`f fu kw~wlb hwin" lc~`xg klildgkgi~ klp lbsf s~u`xg
~f lca`gxg l dflb fh bgss xfbl~`b`~p fu u`sj ~ali ~ag egicakluj `ingq
`is~gln fh" fu `i lnn`~`fi ~f" dugl~gu bfid+~guk ug~wui
Lc~`xg klildgkgi~ `s ~ag f}}fs`~g fh }lss`xg klildgkgi~" tagug ~ag
klildgu nfgs if~ sggj ~f fw~}guhfuk ~ag egicakluj `ingq)
Lc~`xg }fu~hfb`f klildgus klp wsg l xlu`g~p fh hlc~fus lin s~ul~gd`gs ~f
cfis~uwc~ ~ag`u }fu~hfb`f) ^agsg `icbwng |wli~`~l~`xg kglswugs swca ls
]&G ul~`fs lin ]GD ul~`fs" sgc~fu eg~s ~al~ l~~gk}~ ~f li~`c`}l~g bfid+
~guk klcufgcfifk`c ~ugins !swca ls l hfcws fi gigudp fu afws`id
s~fcjs" lin }wucals`id s~fcjs fh cfk}li`gs ~al~ lug ~gk}fulu`bp fw~+fh+
hlxfu fu sgbb`id l~ l n`scfwi~ ~f ~ag`u `i~u`is`c xlbwg) Sfkg lc~ xgbp
klildgn hwins lbsf }wuswg s~ul~gd`gs swca ls kgudgu lue`~uldg" safu~
}fs`~`fis" f}~`fi tu`~`id" lin lssg~ lbbfcl~`fi)
http://en.wikipedia.org/wiki/Investment_managementhttp://en.wikipedia.org/wiki/Investment_managementhttp://en.wikipedia.org/wiki/Efficient_market_theoryhttp://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Short_sellinghttp://en.wikipedia.org/wiki/Passive_managementhttp://en.wikipedia.org/wiki/P/E_ratiohttp://en.wikipedia.org/wiki/P/E_ratiohttp://en.wikipedia.org/wiki/PEG_ratioshttp://en.wikipedia.org/wiki/PEG_ratioshttp://en.wikipedia.org/wiki/Macroeconomichttp://en.wikipedia.org/wiki/Merger_arbitragehttp://en.wikipedia.org/wiki/Merger_arbitragehttp://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Option_(finance)http://en.wikipedia.org/wiki/Asset_allocationhttp://en.wikipedia.org/wiki/Investment_managementhttp://en.wikipedia.org/wiki/Investment_managementhttp://en.wikipedia.org/wiki/Efficient_market_theoryhttp://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Short_sellinghttp://en.wikipedia.org/wiki/Passive_managementhttp://en.wikipedia.org/wiki/P/E_ratiohttp://en.wikipedia.org/wiki/PEG_ratioshttp://en.wikipedia.org/wiki/Macroeconomichttp://en.wikipedia.org/wiki/Merger_arbitragehttp://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Short_(finance)http://en.wikipedia.org/wiki/Option_(finance)http://en.wikipedia.org/wiki/Asset_allocation7/31/2019 project report on Funds Flow
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^ag ghhgc~`xgigss fh li lc~`xgbp+klildgn `ixgs~kgi~ }fu~hfb`f fex`fwsbp
ng}gins fi ~ag sj`bb fh ~ag klildgu lin ugsgluca s~lhh) @i uglb`~p" ~ag
klofu`~p fh lc~ xgbp klildgn cfbbgc~`xg `ixgs~kgi~ scagkgs ulugbp
fw~}guhfuk ~ag`u `ingq cfwi~gu}lu~s fxgu bfid }gu`fns fh ~`kg" lsswk`id
~al~ ~agp lug egicaklujgn cfuugc~bp) Hfu gqlk}bg" ~ag S~linlun (
]ffu$s @ingq Xgusws Lc~`xg !S]@XL |wlu~gubp scfugcluns ngkfis~ul~g
~al~ fibp l k`ifu`~p fh lc~ xgbp klildgn kw~wlb hwins wswlbbp egl~
S~linlun ( ]ffu$s xlu`fws `ingq egicaklujs) Ls ~ag ~`kg }gu`fn hfu
cfk}lu`sfi `icuglsgs" ~a`s k`ifu`~p }gucgi~ldg ~gins ~f sau`ij gxgi
kfug)
Tagi lbb gq}gisgs lug ~ljgi `i~f lccfwi~ fig k`da~ lc~wlbbp sgg
wingu}guhfuklicg gxgi `h ~ag sgcwu`~`gs fw~}guhfuk ~ag Klujg~)
Aftgxgu" `h if~ hfu lc~`xg klildgkgi~" }lss`xg klildgkgi~ tfwbn
egcfkg l dlkebg" ~aws ~ag `icgi~`xgs hfu lc~`xg klildgkgi~ t`bb ltlps
gq`s~) @i lnn`~`fi" klip `ixgs~fus h`in lc~`xg klildgkgi~ li l~~ulc~`xg
s~ul~gdp t`~a`i klujg~ sgdkgi~s ~al~ lug bgss b`jgbp ~f eg hwbbp ghh`c`gi~"
swca ls `ixgs~kgi~s `i sklbb cl} s~fcjs)
Lnxli~ldgs fh lc~`xg klildgkgi~?
^ag }u`klup l~~ulc~`fi fh lc~`xg klildgkgi~ `s ~al~ `~ lbbfts sgbgc~`fi fh
`ixgs~kgi~s ~al~ nf if~ gcaf ~afsg fh ~ag klujg~ ls l tafbg) @ixgs~fus
klp alxg l xlu`g~p fh kf~`xl~`fis hfu hfbbft`id swca l s~ul~gdp?
http://en.wikipedia.org/wiki/Collective_investment_schemehttp://en.wikipedia.org/wiki/Market_capitalizationhttp://en.wikipedia.org/wiki/Collective_investment_schemehttp://en.wikipedia.org/wiki/Market_capitalization7/31/2019 project report on Funds Flow
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^agp klp eg sjg}~`clb fh ~ag ghh`c`gi~ klujg~ ~agfup" fu egb`gxg
~al~ sfkg klujg~ sgdkgi~s lug bgss ghh`c`gi~ ~ali f~agus)
^agp klp tli~ ~f klildg xfbl~`b`~p ep `ixgs~`id `i bgss+u`sjp"
a`da+|wlb`~p cfk}li`gs ul~agu ~ali `i ~ag klujg~ ls l tafbg" gxgi
l~ ~ag cfs~ fh sb`da~bp bftgu ug~wuis)
Cfixgusgbp" sfkg `ixgs~fus klp tli~ ~f ~ljg fi lnn`~`filb u`sj
hfu ~ag calicg fh a`dagu+~ali+klujg~ ug~wuis)
@ixgs~kgi~s ~al~ lug if~ a`dabp cfuugbl~gn ~f ~ag klujg~ lug wsghwb
ls l }fu~hfb`f n`xgus`h`gu)
Sfkg `ixgs~fus klp t`sa ~f hfbbft l s~ul~gdp ~al~ lxf`ns fu
wingutg`da~s cgu~l`i `inws~u`gs cfk}lugn ~f ~ag klujg~ ls l
tafbg" lin klp h`in li lc~`xgbp+klildgn hwin kfug `i b`ig t`~a
~ag`u }lu~`cwblu `ixgs~kgi~ dflbs) !Hfu `is~licg" li gk}bfpgg fh l
a`da+~gcaifbfdp duft~a cfk}lip taf ugcg`xgs cfk}lip s~fcj fu
s~fcj f}~`fis ls l egigh`~ k`da~ }ughgu if~ ~f ~`g w} ~ag`u f~agu
lssg~s `i ~ag slkg `inws~up)
Sgxgulb fh ~ag lc~`xgbp+klildgn kw~wlb hwins t`~a s~ufid bfid+~guk
ugcfuns `ixgs~ `i xlbwg s~fcjs) ]lss`xgbp+klildgn hwins ~al~ ~ulcj
eufln klujg~ `in`cgs swca ls ~ag S(] 7== alxg kfigp `ixgs~gn `i ef~a
duft~a lin xlbwg s~fcjs)
http://en.wikipedia.org/wiki/Efficient_market_theoryhttp://en.wikipedia.org/wiki/Value_stockhttp://en.wikipedia.org/wiki/S%26P_500http://en.wikipedia.org/wiki/Efficient_market_theoryhttp://en.wikipedia.org/wiki/Value_stockhttp://en.wikipedia.org/wiki/S%26P_5007/31/2019 project report on Funds Flow
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N`slnxli~ldgs fh lc~`xg klildgkgi~
^ag kfs~ fex`fws n`slnxli~ldg fh lc~`xg klildgkgi~ `s ~al~ ~ag hwin
klildgu klp kljg eln `ixgs~kgi~ caf`cgs fu hfbbft li wisfwin ~agfup
`i klild`id ~ag }fu~hfb`f) ^ag hggs lssfc`l~gn t`~a lc~`xg klildgkgi~
lug lbsf a`dagu ~ali ~afsg lssfc`l~gn t`~a }lss`xg klildgkgi~" gxgi `h
hug|wgi~ ~uln`id `s if~ }ugsgi~) ^afsg taf lug cfis`ngu`id `ixgs~`id `i
li lc~`xgbp+klildgn kw~wlb hwin safwbn gxlbwl~g ~ag hwin$s }ufs}gc~ws
clughwbbp) ^ag klofu`~p fh lc~`xgbp klildgn bludg+ lin k`n+cl} s~fcj
hwins `i Wi`~gn S~l~gs hl`b ~f fw~}guhfuk l }lss`xg s~fcj `ingq `i ugcgi~
ngclngs)
Lc~`xg hwin klildgkgi~ s~ul~gd`gs ~al~ `ixfbxg hug|wgi~ ~uln`id
dgigul~g a`dagu ~ulislc~`fi cfs~s ta`ca cw~ `i~f ~ag hwin$s ug~wui) @i
lnn`~`fi" ~ag safu~+~guk cl}`~lb dl`is ugswb~`id hufk hug|wgi~ ~ulngs alxg
li wihlxfulebg ~lq ~ugl~kgi~ tagi swca hwins lug agbn `i l ~lqlebg
lccfwi~)
Tagi ~ag lssg~ elsg fh li lc~`xgbp+klildgn hwin egcfkgs ~ff bludg" `~ egd`is ~f
~ljg fi `ingq+b`jg calulc~gu`s~`cs egclwsg `~ kws~ `ixgs~ `i li `icugls`idbp n`xgusg
sg~ fh `ixgs~kgi~s `is~gln fh fibp ~afsg ta`ca ug}ugsgi~ ~ag hwin klildgu$s egs~
`ngls) Klip kw~wlb hwin cfk}li`gs cbfsg ~ag`u hwins eghfug ~agp uglca ~a`s }f`i~"
ew~ ~agug `s }f~gi~ lb hfu cfihb`c~ fh `i~gugs~ eg~tggi ~ag hwin klildgu lin
salugafbngus egclwsg fh ~ag lnn`~`filb klildgkgi~ hggs ~al~ cli eg cfbbgc~gn ep
jgg}`id ~ag hwin f}gi)
http://en.wikipedia.org/wiki/Prospectus_(finance)http://en.wikipedia.org/wiki/Capital_gainshttp://en.wikipedia.org/wiki/Prospectus_(finance)http://en.wikipedia.org/wiki/Capital_gains7/31/2019 project report on Funds Flow
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Uglb lc~`xg klildgkgi~
G|w`~p hwin klildgus wswlbbp nf if~ alxg eflun kgkegus l~ ~ag h`uks `i
ta`ca ~agp alxg li g|w`~p s~ljg" lin ~agp nf x`u~wlbbp if~a`id lefw~ ~ag
hw~wug }guhfuklicg fh ~ag h`uk) Sf ewp`id lin sgbb`id g|w`~p `s if~ lc~`xg
klildgkgi~ fh ~ag cfk}li`gs: `~ `s ows~ li lc~`xg ~ulislc~`fi fh g|w`~p `i
~ag hwin)
Uglb lc~`xg klildgkgi~ `s nfig ep ~ag }gf}bg ~al~ tfuj l~ ~ag
cfk}lip" gxgup gk}bfpgg lin klildgu) ]u`xl~g+g|w`~p `s fh~gi uglb
lc~`xg klildgkgi~ s`icg l }u`xl~gbp ftign cfk}lip alxg l sklbb
iwkegu fh ftigus lin wswlbbp alxg ows~ fig ftigu ~al~ kljg s~ul~gdp
ngc`s`fis l~ ~ag eflun bgxgb)
]lss`xg hwins klildgkgi~?
]lss`xg klildgkgi~ !lbsf clbbgn }lss`xg `ixgs~`id `s l h`ilic`lb
s~ul~gdp `i ta`ca l hwin klildgukljgs ls hgt }fu~hfb`f ngc`s`fis ls
}fss`ebg" `i fungu ~f k`i`k`zg ~ulislc~`fi cfs~s" `icbwn`id ~ag `ic`ngicg
fhcl}`~lb dl`is ~lq) Fig }f}wblu kg~afn `s ~f k`k`c ~ag }guhfuklicg fh
li gq~guilbbp s}gc`h`gn `ingqclbbgn $`ingq hwins$) ^ag g~afs fh li `ingq
hwin `s l}~bp swkkgn w} `i ~ag `iowic~`fi ~f li `ingq hwin klildgu?
%Nfi$~ ows~ nf sfkg~a`id" s`~ ~agug,%
]lss`xg klildgkgi~ `s kfs~ cfkkfi fi ~ag g|w`~p klujg~" tagug
`ingq hwins ~ulcj l s~fcj klujg~ `ingq" ew~ `~ `s egcfk`id kfug cfkkfi
http://en.wikipedia.org/wiki/Private-equityhttp://en.wikipedia.org/wiki/Financehttp://en.wikipedia.org/wiki/Fund_managerhttp://en.wikipedia.org/wiki/Fund_managerhttp://en.wikipedia.org/wiki/Portfolio_(finance)http://en.wikipedia.org/wiki/Transaction_costhttp://en.wikipedia.org/wiki/Capital_gains_taxhttp://en.wikipedia.org/wiki/Index_(economics)http://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Stock_markethttp://en.wikipedia.org/wiki/Stock_market_indexhttp://en.wikipedia.org/wiki/Private-equityhttp://en.wikipedia.org/wiki/Financehttp://en.wikipedia.org/wiki/Fund_managerhttp://en.wikipedia.org/wiki/Portfolio_(finance)http://en.wikipedia.org/wiki/Transaction_costhttp://en.wikipedia.org/wiki/Capital_gains_taxhttp://en.wikipedia.org/wiki/Index_(economics)http://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Stock_markethttp://en.wikipedia.org/wiki/Stock_market_index7/31/2019 project report on Funds Flow
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`i f~agu `ixgs~kgi~ ~p}gs" `icbwn`id efins" cfkkfn`~`gs lin agndg
hwins) ^fnlp" ~agug `s l }bg~aful fh klujg~ `ingqgs `i ~ag tfubn" lin
~afwslins fh n`hhgugi~ `ingq hwins ~ulcj`id klip fh ~agk)
^ag cficg}~ fh }lss`xg klildgkgi~ `s cfwi~gu`i~w`~`xg ~f klip
`ixgs~fus) ^ag ul~`filbg ega`in `ingq`id s~gks hufk hfwu cficg}~s fh
h`ilic`lb gcfifk`cs?
7/31/2019 project report on Funds Flow
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>) ^ag cl}`~lb lssg~ }u`c`id kfngb !CL]K lin ugbl~gn }fu~hfb`f
sg}lul~`fi ~agfugks" ta`ca `k}bp ~al~" `i g|w`b`eu`wk" lbb `ixgs~fus
t`bb afbn l k`q~wug fh ~ag klujg~ }fu~hfb`f lin l u`sjbgss lssg~)
^al~ `s" wingu sw`~lebg cfin`~`fis" l hwin `ingqgn ~f %~ag klujg~%
`s ~ag fibp hwin `ixgs~fus iggn)
Sfkg lc~`xg klildgus klp egl~ ~ag `ingq `i }lu~`cwblu pglus" fu
gxgi cfis`s~gi~bp fxgu l sgu`gs fh pglus) Igxgu~agbgss ~ag ug~l`b `ixgs~fu
s~`bb als ~ag }ufebgk fh n`scgui`id aft kwca fh ~ag fw~ }guhfuklicg tls
nwg ~f sj`bb ul~agu ~ali bwcj" lin ta`ca klildgus t`bb nf tgbb `i ~ag
hw~wug)
@k}bgkgi~l~`fi
L~ ~ag s`k}bgs~" li `ingq hwin `s k}bgkgi~gn ep }wucals`id sgcwu`~`gs `i
~ag slkg }uf}fu~`fi ls `i ~ag s~fcj klujg~ `ingq) @~ cli lbsf eg
lca`gxgn ep slk}b`id !g)d) ewp`id s~fcjs fh glca j`in lin sgc~fu `i ~ag
`ingq ew~ if~ igcgsslu`bp sfkg fh glca `in`x`nwlb s~fcj" lin ~agug lug
sf}a`s~`cl~gn xgus`fis fh slk}b`id !g)d) ~afsg ~al~ sggj ~f ewp ~afsg
}lu~`cwblu salugs ~al~ alxg ~ag egs~ calicg fh dffn }guhfuklicg)
@ixgs~kgi~ hwins uwi ep @ixgs~kgi~ klildgus taf cbfsgbp k`uufu ~ag
`ingq `i ~ag u klildgn }fu~hfb`fs lin fhhgu b`~~bg %lnngn xlbwg% ls
klildgus ta`bs~ calud`id hggs hfu lc~`xg klildgkgi~ lug clbbgn $cbfsg~
~ulcjgus$: ~al~ `s ~agp nf if~ `i ~uw~a lc~`xgbp klildg ~ag hwin ew~
hwu~`xgbp k`uufu ~ag ingq)
http://en.wikipedia.org/wiki/Capital_asset_pricing_modelhttp://en.wikipedia.org/w/index.php?title=Portfolio_separation_theorems&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Portfolio_separation_theorems&action=edit&redlink=1http://en.wikipedia.org/wiki/Market_portfoliohttp://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Stockmarket_indexhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Investment_managerhttp://en.wikipedia.org/wiki/Investment_managerhttp://en.wikipedia.org/wiki/Capital_asset_pricing_modelhttp://en.wikipedia.org/w/index.php?title=Portfolio_separation_theorems&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Portfolio_separation_theorems&action=edit&redlink=1http://en.wikipedia.org/wiki/Market_portfoliohttp://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Security_(finance)http://en.wikipedia.org/wiki/Stockmarket_indexhttp://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Investment_manager7/31/2019 project report on Funds Flow
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Cfbbgc~`xg `ixgs~kgi~ scagkgs ~al~ gk}bfp }lss`xg `ixgs~kgi~
s~ul~gd`gs ~f ~ulcj ~ag }guhfuklicg fh l s~fcj klujg~ `ingq" lug jifti
ls `ingq hwins) Gqcalidg+~ulngn hwins lug igxgu lc~`xgbp klildgn lin
fh~gi ~ulcj l s}gc`h`c klujg~ fu cfkkfn`~p `in`cgs)
@ixgs~kgi~ klildgkgi~
@ixgs~kgi~ klildgkgi~ `s ~ag }ufhgss`filb klildgkgi~ fh xlu`fws
sgcwu`~`gs !salugs" efins g~c lssg~s !g)d) uglb gs~l~g" ~f kgg~ s}gc`h`gn
`ixgs~kgi~ dflbs hfu ~ag egigh`~ fh ~ag `ixgs~fus) @ixgs~fus klp eg
`is~`~w~`fis !`iswulicg cfk}li`gs" }gis`fi hwins" cfu}ful~`fis g~c) fu
}u`xl~g `ixgs~fus !ef~a n`ugc~bp x`l `ixgs~kgi~ cfi~ulc~s lin kfug
cfkkfibp x`l cfbbgc~`xg ixgs~kgi~ scagkgs g)d) kw~wlb hwins)
^ag ~guk lssg~ klildgkgi~ `s fh~gi wsgn ~f ughgu ~f ~ag `ixgs~kgi~
klildgkgi~ fh cfbbgc~`xg `ixgs~kgi~s" ta`bs~ ~ag kfug dgigu`c hwin
klildgkgi~ klp ughgu ~f lbb hfuks fh `is~`~w~`filb `ixgs~kgi~ ls tgbb ls
`ixgs~kgi~ klildgkgi~ hfu }u`xl~g `ixgs~fus) @ixgs~kgi~ klildgus
taf s}gc`lb`zg `i lnx`sfup fu n`scug~`filup klildgkgi~ fi egalbh fh
!ifuklbbp tglb~ap }u`xl~g `ixgs~fus klp fh~gi ughgu ~f ~ag`u sgux`cgs ls
tglb~a klildgkgi~ fu }fu~hfb`f klildgkgi~ fh~gi t`~a`i ~ag cfi~gq~ fh
sf+clbbgn %}u`xl~g elij`id%)
^ag }ufx`s`fi fh`ixgs~kgi~ klildgkgi~ sgux`cgs `icbwngs gbgkgi~s
fh h`ilic`lb lilbps`s" lssg~ sgbgc~`fi" s~fcj sgbgc~`fi" }bli
http://en.wikipedia.org/wiki/Collective_investment_schemehttp://en.wikipedia.org/wiki/Collective_investment_schemehttp://en.wikipedia.org/wiki/Stockmarket_indexhttp://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Exchange-traded_fundhttp://en.wikipedia.org/wiki/Securitieshttp://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Mutual_fundhttp://en.wikipedia.org/wiki/Collective_investment_schemehttp://en.wikipedia.org/wiki/Stockmarket_indexhttp://en.wikipedia.org/wiki/Index_fundhttp://en.wikipedia.org/wiki/Exchange-traded_fundhttp://en.wikipedia.org/wiki/Securitieshttp://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Mutual_fund7/31/2019 project report on Funds Flow
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`k}bgkgi~l~`fi lin fidf`id kfi`~fu`id fh `ixgs~kgi~s) @ixgs~kgi~
klildgkgi~ `s l bludg lin `k}fu~li~ dbfelb `inws~up `i `~s fti u`da~
ugs}fis`ebg hfu clug~lj`id fh ~u`bb`fis fh nfbblus" gwuf" }fwins lin pgi)
Cfk`id wingu ~ag ugk`~ fh h`ilic`lb sgux`cgs klip fh ~ag tfubn$s bludgs~
cfk}li`gs lug l~ bgls~ `i }lu~ `ixgs~kgi~ klildgus lin gk}bfp k`bb`fis
fh s~lhh lin cugl~g e`bb`fis `i ugxgiwg)
Hwin klildgu ughgus ~f ef~a l h uk ~al~ }ufx`ngs `ixgs~kgi~
klildgkgi~ sgux`cgs lin li `in`x`nwlb taf n`ugc~s %hwin klildgkgi~%
ngc`s`fi)
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Cfi~gi~s Fh Hwins Klildgkgi~
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~ag ~glk eggi tfuj`id ~fdg~agu6 ^a`s bls~ |wgs~`fi `s x`~lb
egclwsg tal~gxgu }guhfuklicg ugcfun tls }ugsgi~gn l~ ~ag
fw~sg~ fh ~ag ugbl~`fisa`} t`~a ~ag cb`gi~ klp fu klp if~ ugbl~g ~f
!alxg eggi }ufnwcgn ep l ~glk ~al~ `s s~`bb `i }blcg) @h ~ag ~glk
als calidgn dugl~bp !a`da s~lhh ~wuifxgu fu calidgs ~f ~ag ~glk"
~agi ludwlebp ~ag }guhfuklicg ugcfun `s cfk}bg~gbp wiugbl~gn ~f
~ag gq`s~`id ~glk !fh hwin klildgus)
5) @ixgs~kgi~ klildgus lin }fu~hfb`f s~uwc~wugs
L~ ~ag aglu~ fh ~ag `ixgs~kgi~ klildgkgi~ `inws~up lug ~ag klildgus
taf `ixgs~ lin n`xgs~ cb`gi~ `ixgs~kgi~s)L cgu~`h`gn cfk}lip `ixgs~kgi~
lnx`sfu safwbn cfinwc~ li lssgsskgi~ fh glca cb`gi~$s `in`x`nwlb iggns
lin u`sj }ufh`bg) ^ag lnx`sfu ~agi ugcfkkgins l}}uf}u`l~g ixgs~kgi~s)
3) Lssg~ lbbfcl~`fi
^ag n`hhgugi~ lssg~ cblssgs lin ~ag gqguc`sg fh lbbfcl~`id hwins lkfid
~agsg lssg~s !lin lkfid `in`x`nwlb sgcwu`~`gs t`~a`i glca lssg~ cblss `s
tal~ `ixgs~kgi~ klildgkgi~ h`uks lug }l`n hfu) Lssg~ cblssgs gqa`e`~
n`hhgugi~ klujg~ npilk`cs" lin n`hhgugi~ `i~gulc~ fi ghhgc~s: ~aws" ~ag
lbbfcl~`fi fh kfi`gs lkfid lssg~ cblssgs t`bb alxg l s`di`h`cli~ ghhgc~
fi ~ag }guhfuklicg fh ~ag hwin) Sfkg ugsgluca swddgs~s ~al~ lbbfcl~`fi
lkfid lssg~ cblssgs als kfug }ugn`c~`xg }ftgu ~ali ~ag caf`cg fh
`in`x`nwlb afbn`ids `i ng~guk`i`id }fu~hfb`f ug~wui) Ludwlebp" ~ag sj`bb fh l
swccgsshwb `ixgs~kgi~ klildgu ugs`ngs `i cfis~uwc~`id ~ag lssg~
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lbbfcl~`fi" lin sg}lul~gbp ~ag `in`x`nwlb afbn`ids" sf ls ~f fw~}guhfuk
cgu~l`i egicaklujs !g)d)" ~ag }ggu dufw} fh cfk}g~`id hwins" efin lin
s~fcj in`cgs)
>) Bfid+~guk ug~wuis
@~ `s `k}fu~li~ ~f bffj l~ ~ag gx`ngicg fi ~ag bfid+~guk ug~wuis ~f
n`hhgugi~ lssg~s" lin ~f afbn`id }gu`fn ug~wuis !~ag ug~wuis ~al~ lccuwg fi
lxguldg fxgu n`hhgugi~ bgid~as fh `ixgs~kgi~) Hfu gqlk}bg" fxgu xgup
bfid afbn`id }gu`fns !gd)
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b`le`b ~p ug~wuis" `sswgs `i~guilb ~f ~ag }fu~hfb`f !`in`x`nwlb afbn`ids
xfbl~`b`~p" lin cufss+cfuugbl~`fis eg~tggi ~ag ug~wuis)
8) @ixgs~kgi~ s~pbgs
@ixgs~kgi~ S~pbg sgbgc~`fi ng}gins w}fi u`sj l}}g~`~g lin ug~wui
gq}gc~l~`fi) ^agug lug l ulidg fh n`hhgugi~ s~pbgs fh hwin klildgkgi~
~al~ ~ag `is~`~w~`fi cli `k}bgkgi~) Hfu gqlk}bg" duft~a" xlbwg" klujg~
igw~ulb" sklbb cl}`~lb`sl~`fi" `ingqgn" g~c) Glca fh ~agsg l}}uflcags als
`~s n`s~`ic~`xg hgl~wugs" lnagugi~s lin" `i lip }lu~ cwblu h`ilic`lb
gix`ufikgi~" n`s~`ic~`xg u`sj calulc~gu`s~`cs) Hfu gqlk}bg" ~agug `s
gx`ngicg ~al~ duft~a s~pbgs !ewp`id ul}`nbp duft`id glui`ids lug
gs}gc`lbbp ghhgc~`xg tagi ~ag cfk}li`gs lebg ~f dgigul~g swca duft~a
lug sclucg: cfixgusgbp" tagi swca duft~a `s }bgi~ hwb" ~agi ~agug `s
gx`ngicg ~al~ xlbwg s~pbgs ~gin ~f fw~}guhfuk ~ag `in`cgs }lu~`cwblubp
swccgsshwbbp)
4) ]guhfuklicg kglswugkgi~
Hwin }guhfuklicg `s ~ag lc`n ~gs~ fh hwin klildgkgi~" lin `i ~ag
`is~ ~w~ filb cfi~gq~ lccwul~g kglswugkgi~ `s l igcgss ~p) Hfu ~al~
}wu}fsg" `is~`~w~`fis kglswug ~ag }guhfuklicg fh glca hwin !lin wswlbbp
hfu `i~guilb }wu}fsgs cfk}figi~s fh glca hwin wingu ~ag`u
klildgkgi~" lin }guhfuklicg `s lbsf kglswugn ep gq~guilb h`uks ~al~
http://en.wikipedia.org/wiki/Cross-correlationhttp://en.wikipedia.org/wiki/Investment_stylehttp://en.wikipedia.org/wiki/Market_neutralhttp://en.wikipedia.org/wiki/Market_neutralhttp://en.wikipedia.org/wiki/Cross-correlationhttp://en.wikipedia.org/wiki/Investment_stylehttp://en.wikipedia.org/wiki/Market_neutralhttp://en.wikipedia.org/wiki/Market_neutral7/31/2019 project report on Funds Flow
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s}gc`lb`zg `i }guhfuklicg kglswugkgi~) ^ag bgln`id }guhfuklicg
kglswugkgi~ h`uks cfk}`bg lddugdl~g `inws~up nl~l)
Dgigulbbp s}glj`id" `~ `s }ufelebp l}}uf}u`l~g hfu li `ixgs~kgi~ h`uk ~f
}guswlng `~s cb`gi~s ~f lssgss }guhfuklicg fxgu bfidgu }gu`fns !g)d)" 3
~f 7 pglus ~f skff~a fw~ xgup safu~ ~guk hbwc~wl~`fis `i }guhfuklicg
lin ~ag `ihbwgicg fh ~ag ews`igss cpcbg) ^a`s cli eg n`hh`cwb~ aftgxgu
lin" `inws~up t`ng" ~agug `s l sgu fws }ugfccw}l~`fi t`~a safu~+~guk
iwkegus lin ~ag ghhgc~ fi ~ag ugbl~`fisa`} t`~a cb`gi~s !lin ugswb~li~
ews`igss u`sjs hfu ~ag `is~`~w~`fis)
Li ginwu`id }ufebgk `s tag~agu ~f kglswug eghfug+~lq fu lh~gu+~lq
}guhfuklicg) Lh~gu+~lq kglswugkgi~ ug}ugsgi~s ~ag egigh`~ ~f ~ag
`ixgs~fu" ew~ `ixgs~fus$ ~lq }fs`~`fis klp xlup) Eghfug+~lq kglswugkgi~
cli eg k`sbgln`id" gs}gc`lbbp `i ugd`kgis ~al~ ~lq uglb`sgn cl}`~lb dl`is
!lin if~ wiuglb`sgn) @~ `s ~aws }fss`ebg ~al~ swccgsshwb lc~`xg klildgus
!kglswugn eghfug ~lq klp }ufnwcg k`sgulebg lh~gu+~lq ugswb~s) Fig
}fss`ebg sfbw~`fi `s ~f ug}fu~ ~ag lh~gu+~lq }fs`~ fi fh sfkg s~linlun
~lq}lpgu)
)1) U`sj+lnows~gn }guhfuklicg kglswugkgi~
]guhfuklicg kglswugkgi~ safwbn if~ eg ugnwcgn ~f ~ag gxlbwl~`fi fh
hwin ug~wuis lbfig" ew~ kws~ lbsf `i~gdul~g f~agu hwin gbgkgi~s ~al~
tfwbn eg fh `i~gugs~ ~f `ixgs~fus" swca ls ~ag kglswug fh u`sj ~ljgi)
Sgxgulb f~agu ls}gc~s lug lbsf }lu~ fh }guhfuklicg kglswugkgi~?
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gxlbwl~`id `h klildgus alxg swccggngn `i uglca`id ~ag`u feogc~`xg" `)g) `h
~ag`u ug~wui tls swhh`c`gi~bp a`da ~f ugtlun ~ag u`sjs ~ljgi: aft ~agp
cfk}lug ~f ~ag`u }ggus: lin h`ilbbp tag~agu ~ag }fu~hfb`f klildgkgi~
ugswb~s tgug nwg ~f bwcj fu ~ag klildgus sj`bb) ^ag iggn ~f listgu lbb
~agsg |wgs~`fis als bgn ~f ~ag ngxgbf}kgi~ fh kfug sf}a`s~`cl~gn
}guhfuklicg kglswugs" klip fh ta`ca fu`d`il~g `i kfngui }fu~hfb`f
~agfup)
Kfngui }fu~hfb`f ~agfup gs~leb`sagn ~ag |wli~ ~l~`xg b`ij ~al~ gq`s~s
eg~tggi }fu~hfb`f u`sj lin ug~wui) ^ag Cl}`~lb Lssg~ ]u`c`id Kfngb
!CL]K ngxgbf}gn ep Salu}g ! a`dab`da~gn ~ag if~`fi fh ugtlun`id
u`sj lin }ufnwcgn ~ag h`us~ }guhfuklicg `in`cl~fus" eg ~agp u`sj+lnows~gn
ul~`fs !Salu}g ul~`f" `ihfukl~`fi ul~`f fu n`hhgugi~`lb ug~wuis cfk}lugn ~f
egicaklujs !lb}als) ^ag Salu}g ul~`f `s ~ag s`k}bgs~ lin egs~ jifti
}guhfuklicg kglswug) @~ kglswugs ~ag ug~wui fh l }fu~hfb`f `i gqcgss fh
~ag u`sj+hugg ul~g" cfk}lugn ~f ~ag ~f~lb u`sj fh ~ag }fu~hfb`f) ^a`s
kglswug `s sl`n ~f eg lesfbw~g" ls `~ nfgs if~ ughgu ~f lip egicakluj"
lxf`n`id nultelcjs ugbl~gn ~f l }ffu caf`cg fh egicakluj) Kglita`bg"
`~ nfgs if~ lbbft ~ag sg}lul~`fi fh ~ag }guhfuklicg fh ~ag klujg~ `i
ta`ca ~ag }fu~hfb`f `s `ixgs~gn hufk ~al~ fh ~ag klildgu) ^ag `ihfukl~`fi
ul~`f `s l kfug dgigulb hfuk fh ~ag Salu}g ul~`f `i ta`ca ~ag u`sj+hugg
lssg~ `s ug}blcgn ep l egicakluj }fu~hfb`f) ^a`s kglswug `s ugbl~`xg" ls
`~ gxlbwl~gs }fu~hfb`f }guhfuklicg `i ughgugicg ~f l egicakluj" klj`id
~ag ugswb~ s~ufidbp ng}gingi~ fi ~a`s egicakluj caf`cg)
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]fu~hfb`f lb}al `s fe~l`ign ep kglswu`id ~ag n`hhgugicg eg~tggi ~ag
ug~wui fh ~ag }fu~hfb`f lin ~al~ fh l egicakluj }fu~hfb`f) ^a`s kglswug
l}}glus ~f eg ~ag fibp ugb`lebg }guhfuklicg kglswug ~f gxlbwl~g lc~`xg
klildgkgi~) @i hlc~" tg alxg ~f n`s~`idw`sa eg~tggi ifuklb ug~wuis"
}ufx`ngn ep ~ag hl`u ugtlun hfu }fu~hfb`f gq}fswug ~f n`hhgugi~ u`sjs" lin
fe~l`ign ~aufwda }lss`xg klildgkgi~" hufk leifuklb }guhfuklicg !fu
fw~}guhfuklicg nwg ~f ~ag klildgus sj`bb" tag~agu ~aufwda klujg~
~`k`id fu s~fcj }`cj`id) ^ag h`us~ cfk}figi~ `s ugbl~gn ~f lbbfcl~`fi lin
s~pbg `ixgs~kgi~ caf`cgs" ta`ca klp if~ eg wingu ~ag sfbg cfi~ufb fh ~ag
klildgu" lin ng}gins fi ~ag gcfifk`c cfi~gq~" ta bg ~ag sgcfin
cfk}figi~ `s li gxlbwl~`fi fh ~ag swccgss fh ~ag klildgus ngc`s`fis)
Fibp ~ag bl~~gu" kglswugn ep lb}al" lbbfts ~ag gxlbwl~`fi fh ~ag
klildgus ~uwg }guhfuklicg)
]fu~hfb`f ifuklb ug~wui klp eg gxlbwl~gn ws`id hlc~fu kfngbs) ^ag h`us~
kfngb" }uf}fsgn ep Ogisgi !
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cfk}lip$s s`zg ls kglswugn ep `~s klujg~ cl}`~lb`sl~ fi) Hlkl lin
Hugica ~agughfug }uf}fsgn l ~augg+hlc~fu kfngb ~f ngscu`eg }fu~hfb`f
ifuklb ug~wuis) Clualu~ !
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u`sj ew~ wi`~ }u`cgs klp s~`bb df w} fu nfti) Ls ~ag hwins lug `ixgs~gn `i
sgcwugn sgcwu`~`gs tagug ~ag ug~wuis lug }ufx`ngn ugdwblubp)
Nghgis`xg Klildgn Hwin?
^ag h`us~ `s l nghgis`xg `ixgs~kgi~ s~ul~gdp ~al~ }uf~gc~s li `ixgs~fus
}u`ic`}lb tagi ~ag s~fcj klujg~ `s df`id nfti) ^agp lug sfkg~`kgs
jifti ls @ICFKG HWIN lin ~gin ~f ~ag aglx`bp tg`da~gn `i clsa lin
h`qgn `i~gugs~ `ixgs~kgi~s)
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~ag bfid ~guk hufk ~ag a`dagu }uf}fu~`fi `~ `ixgs~s `i g|w`~`gs) Wi`~ }u`cgs
klp df w} fu nfti)
Duft~a Hwin?
^a`s hwin hfcws fi bfid ~guk cl}`~lb duft~a ul~agu ~ali `icfkg lin lug
dgigulbbp sw`~gn ~f }gf}bg taf nfif~ iggn ~f lccgss ~ag`u kfigp hfu 7*
pglus) ^agp ~gin ~f eg aglx`bp tg`da~gn `i }uf}gu~p sgcwu`~`gs) Ws`id
~agsg hwins klildgus lug cfi~gi~ ~f ewp salugs `i cfk}li`gs t`~a
k`bnbp lefxg lxguldg ugxgiwg lin glui`ids duft~a) Duft~a hwins lbsf
`ixgs~ `i salugs fh ul}`nbp duft`id cfk}li`gs" ew~ bglui kfug ~ftlun
bludg gs~leb`sagn ilkgs) Ta`ca lug }ufelebp if~ df`id ~f df fw~ fh
ews`igss ~ff |w`cjbp) U`sj bgxgb `i ~a`s hwin `s hufk kfngul~g ~f a`da)
^ag duft~a hwin `ixgs~s
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ew~ `i dgigulb" g|w`~p hwins }wuswg fig fh ~agsg ~augg }u`klup dflbs?
`icfkg" cl}`~lb dl`is" fu ef~a) ^f uglbbp eg swug lefw~ cl~gdfu`z`id" pfw
kws~ s~wnp ~ag hwin$s wingubp`id `ixgs~kgi~s) Aftgxgu" ~agug lug l hgt
eufln cl~gdfu gs ~al~ kfs~ hwins h`~ `i~f)
Dgigulb g|w`~p hwins `icbwng?
Lddugss`xg duft~a hwins" ta`ca sggj klq`kwk cl}`~lb l}}ugc`l~`fi
lin klp wsg s}gcwbl~`xg s~ul~gd`gs)
Sklbb+cfk}lip hwins" ta`ca `ixgs~ `i cfk}li`gs t`~a ugbl~`xgbp sklbb
klujg~ cl}`~lb`zl~`fis)
Duft~a hwins" ta`ca `ixgs~ `i bludgu" gs~leb`sagn ew~ duft`id
cfk}li`gs) ^agp dgigulbbp gk}als`zg cl}`~lb l}}ugc`l~`fi)
Duft~a lin `icfkg hwins" ta`ca `ixgs~ `i bludgu" gs~leb`sagn
cfk}li`gs ~al~ fhhgu ~ag }f~gi~`lb hfu cl}`~lb l}}ugc`l~`fi ew~ lbsf }lp
ugdwblu n`x`ngins)
G|w`~p+`icfkg hwins" ta`ca }u`klu`bp `ixgs~ `i n`x`ngin+}lp`id s~fcjs)
F~agu g|w`~p hwins icbwng?
7/31/2019 project report on Funds Flow
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Apeu`n hwins" ta`ca dgigulbbp `ixgs~ `i g|w`~`gs ew~ lbsf `ixgs~ `i
efins)
S}gc`lb~p hwins" ta`ca `ixgs~ `i s~fcjs kgg~`id cgu~l`i cu`~gu`l !swca ls
dgfdul}a`c ugd`fi" `inws~up sgc~fu" sfc`lb clwsgs" g~c))
Sgc~fu hwins" ta`ca `ixgs~ `i s}gc`h`c s~fcj dufw}s" fh~gi t`~a`i fig `inws~up)
@ingq hwins" ta`ca `ixgs~ `i ~ag slkg fu s`k`blu s~fcjs ls g|w`~p klujg~
`ingqgs b`jg ~ag S(] 7==)
@i~guil~`filb hwins" ta`ca `ixgs~ `i hfug`di s~fcjs)
Tap @~ Kl~~gus?
Fig fh ~ag dugl~gs~ lnxli~ldgs fh g|w`~p hwins `s `is~li~ n`xgus`h`cl~`fi) Lbsf" `~ `s
wswlbbp gls`gu lin bgss gq}gis`xg ~f `ixgs~ `i g|w`~p hwins ~ali ~f ewp glca lin
gxgup s~fcj `i l hwin$s }fu~hfb`f) G|w`~p hwins lug lbsf cagl}gu ++ ~agp$ug l tlp ~f
lxf`n ~ag fh~gi a`dagu ~ulislc~`fi cfs~s lin bftgu b`|w`n`~p lssfc`l~gn t`~a
~uln`id `in`x`nwlb s~fcjs) @~$s fh~gi gls`gu ~f sgbb hwin salugs ~ali ~f sgbb l
}lu~`cwblu s~fcj" gs}gc`lbbp h ~al~ s~fcj als wiwswlb calulc~gu s~`cs" ~ag `sswgu als
l bft cugn`~ ul~`id" fu ~ag `sswgu `s hlc`id f~agu ~wukf`b) G|w`~p hwins lbsf fhhgu
~ag sgux`cgs fh l }ufhgss`filb taf tl~cags lin lc~s fi ~ag klujg~ fi egalbh fh ~ag
`ixgs~fu" alinbgs ~ag ~uln`id ngc`s`fis" lin ng~guk`igs ~ag lssg~ lbbfcl~`fi)
Hggs" aftgxgu" cli gl~ `i~f ug~wuis" ta`ca cli eg lbuglnp bft `h ~ag g|w`~p hwin
`ixgs~s `i bftgu+u`sj g|w`~`gs) @i dgigulb" bludgu hwins safwbn alxg bftgu hggs nwg
~f ~ag`u gcfifk`gs fh sclbg) Aftgxgu" sklbb hwins fh~gi ~ljg kgli`idhwb
}fs`~`fis `i sklbbgu `sswgs ~al~ bludg hwins cliif~ fu t`bb if~ bffj l~) Lbsf" sklbb
hwins lug fh~gi eg~~gu lebg ~f gq`~ cgu~l`i }fs`~`fis egclwsg ~agp alxg bgss `k}lc~
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