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SUMMER TRAINING PROJECT REPORT

ON

AWARENESS OF MUTUAL FUND AS AN INVESTMENT TOOLAMONG PUBLIC SECTOR BANKS INVESTORS

Submitte i! "#$ti#% &u%&i%%me!t '& t(e $e)ui$eme!t &'$ t(e #*#$ '&De+$ee '& M#,te$ '& Bu,i!e,, Ami!i,t$#ti'!

B- G#ut#m Bu( Te.(!i.#% U!i/e$,it-0 Lu.1!'*

B-2TUS3AR SRIVASTAVA

R'%% N'4255567895:6MBA ;B#t.( 69550 =$,eme,te$

U!e$ t(e ,u"e$/i,i'! '&M$4 ANKUR T?AGI

Se!i'$ M#!#+e$ ;PSU B#!1i!+ C(#!!e%>UTI MUTUAL FUND

F#.u%t- Me!t'$M,4 NAMITA NIGAM

A,,'.i#te P$'&e,,'$

INSTITUTE OF COOPERATIVE CORPORATE MANAGEMENT0 RESEARC3 @ TRAINING065780 RING ROAD0 INDIRA NAGAR0 LUCKNOW

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DECLARATION

I, TUS3AR SRIVASTAVA, student of M4B4A4here by declare that the project report

titled AWARENESS OF MUTUAL FUND AS AN INVESTMENT TOOL AMONG

PUBLIC SECTOR BANKS INVESTORSis completed under the guidance of Mr.

ANKU !"A#I, is my original $or%.

!he imperial findings in this report are based on the data collected by me. !his project

has not been submitted to GAUTAM BUDD3 TEC3NICAL UNIVERSIT?0

LUCKNOW or any other uni&ersity for the purpose of compliance of any

re'uirement of any e(amination or degree.

)lace* LUCKNOW

+ate* ;TUS3AR SRIVASTAVA>

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A.1!'*%e+eme!t,

)resenting a ummer !raining project of this type is an arduous tas%, demanding a lot of

time. I cannot in full measure reciprocate the %indness sho$n and contribution made by

&arious persons in this endea&our. I $ill remember all of them $ith gratitude.

I must, ho$e&er, especially ac%no$ledgement / my special sincere than%s

to$ards Mr. An%ur !yagi 0enior Manager of U!I Mutual und2 for gi&ing me a chance

to ta%e this project and for his &aluable guidance, $hich helped me on all those points,

$hich I needed to include in, $ith full intensity.

I am e(tremely gratified to Asst.)rof. Ms. Namita Nigam $ho $as e(tremely

helpful in offering his professional e(pertise and besto$ing me practical %no$ledge in

all spheres related to the $hole organi3ation $or%ing.

I am appreciati&e to this organi3ation for full co-operation, support and moti&ation that

helped me a lot in completing my summer training project here.

I am al$ays beholden to the almighty #od, for al$ays being $ith me and

sho$ing me the right $ays, my family, for al$ays doing fa&ours to me and my friends

and colleagues consistently helped $ith encouragement and criticism throughout the

project $or%, for al$ays lifting my sights to higher &ision.

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ABSTRACT

In fe$ years Mutual und has emerged as a tool for ensuring one5s financial $ell being.

Mutual unds ha&e not only contributed to the India gro$th story but ha&e also helped

families tap into the success of Indian Industry. As information and a$areness is rising

more and more people are enjoying the benefits of in&esting in mutual funds. !he main

reason of number of retail mutual fund in&estors remaining small is that three in ten

people do not %no$ that mutual funds e(ist. !he tric% for con&erting a person $ith no

%no$ledge of mutual funds to a ne$ Mutual und customer is to understand $hich of

the potential in&estors are more li%ely to buy mutual funds, to create an in&estment need

among such people and to use the right arguments in the sales process.

Mutual funds are seemingly the easiest and the least stressful $ay to in&est in the

stoc% mar%et. 6uiet a large amount of money has been in&ested in mutual funds

during the past fe$ years. Any in&estor $ould li%e to in&est in a reputed Mutual und

organi3ation. U!I is one such organi3ation that pro&ides a better o&er&ie$ of the

Mutual und industry. Understanding the attitude of in&estors on their in&estment

$ould help the company to increase their profits. In U!I they belie&e that the

in&estors attitude $ould result in profits.

!he research $as done on the topic 77A8A9N9 : MU!UA; UN+ A

AN IN 9>!: =ANK5 IN

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OBJECTIVE OF T3E STUD?

!his project aims to identify 7A8A9N9 : MU!UA; UN+ A AN

IN 9>!: =ANK5 IN

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Mutu#% Fu! I!u,t$-

I!t$'u.ti'!

!he Indian mutual fund industry is one of the fastest gro$ing sectors in the

Indian capital and financial mar%ets. !he origin of mutual fund industry in India is

$ith the introduction of the concept of mutual fund by U!I in the year 1EF4. !hough

the gro$th $as slo$, but it accelerated from the year 1EGH $hen non-U!I players

entered the industry.In the past decade, Indian mutual fund industry had seen a

dramatic impro&ement, both 'uality$ise as $ell as 'uantity$ise. =efore, the

monopoly of the mar%et had seen an ending phase, the Assets Under Management

0AUM2 $as s. FHbn. !he pri&ate sector entry to the fund family rose the AUM to s.

H@ bn in March 1EE4 and till April @@, it reached the height of 1,D@ bn .

)utting the AUM of the Indian Mutual unds Industry into comparison, the

total of it is less than the deposits of =I alone, constitute less than 11 of the total

deposits held by the Indian ban%ing industry.

!he mutual fund industry in India has seen dramatic impro&ements in 'uantity as $ell

as 'uality of product and ser&ice offerings in recent years. Mutual funds assets under

management gre$ by EF bet$een the end of @@1 and June @@H and as a result it

rose from G of #+) to 1D. !he industry has gro$n in si3e and manages total assets

of more than 4@4D1 million. :f the &arious sectors, the pri&ate sector accounts for

nearly E1 of the resources mobili3ed sho$ing their o&er$helming dominance in the

mar%et. Indi&iduals constitute EG.@ of the total number of in&estors and contribute

U 1@F million, $hich is DD.1F of the net assets under management.

Mutual und Industry in its true spirit rooted in a free mar%et and oriented to$ards

competiti&e functioning $ith the dedicated goal of ser&ice to the in&estors can be said

to ha&e settled in India only in 1EE4. Co$e&er the industry too% its roots much earlier

$ith the setting up of the Unit !rust in India 0U!I2 in 1EF by the #o&ernment of

India. +uring the last 4F years, U!I has gro$n to be a dominant player in the industry

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$ith assets of o&er s.H, 444.4 >rores as on March 41, @@@. !he U!I is go&erned

by a special legislation, the Unit !rust of India Act, 1EF4. In 1EGH public sector ban%s

and insurance companies $ere permitted to set up mutual funds and accordingly since

1EGH, F public sector ban%s ha&e set up mutual funds.

Also the t$o Insurance companies ;I> and #I> established mutual funds. ecurities

9(change =oard of India 09=I2 formulated the Mutual und 0egulation2 1EE4,

$hich for the first time established a comprehensi&e regulatory frame$or% for the

mutual fund industry. ince then se&eral mutual funds ha&e been set up by the pri&ate

and joint sectors.

8CA! A9 MU!UA; UN+L

CONCEPT2

A Mutual und is a trust that pools the sa&ings of a number of in&estors $ho share a

common financial goal. !he money thus collected is then in&ested in capital mar%et

instruments such as shares, debentures and other securities. !he income earned

through these in&estments and the capital appreciations reali3ed are shared by its unit

holders in proportion to the number of units o$ned by them. !hus, a Mutual und is

the most suitable in&estment for the common man as it offers an opportunity to in&est

in a di&ersified, professionally managed bas%et of securities at a relati&ely lo$ cost.

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DEFINITION2

7Mutual funds are .'%%e.ti/e ,#/i!+, #! i!/e,tme!t /e(i.%e,$here sa&ings of small

0or sometimes big2 in&estors are pooled together to in&est for their mutual benefit and

returns distributed proportionately?. )ooling of money ensures that small in&estors get

the benefit of ad&ice and e(pertise that is normally a&ailable only to &ery large

in&estors.

7A mutual fund is an i!/e,tme!t that pools your money $ith the money of an

unlimited number of other in&estors. In return, you and the other in&estors each o$n

shares of the fund. !he funds assets are in&ested according to an in&estment objecti&e

into the funds portfolio of in&estments. Aggressi&e gro$th funds see% long-term

capital gro$th by in&esting primarily in stoc%s of fast-gro$ing smaller companies or

mar%et segments. Aggressi&e gro$th funds are also called .#"it#% #""$e.i#ti'!

&u!,4

Mutual funds are an e(cellent $ay to in&est in stoc%s, bonds and other securities. !hey

are a good choice of in&estment because*

!hey are managed by professional money managers, so most of the in&estment

research is done for you. 0Most in&estors don5t ha&e the time or %no$-ho$ to

do all the necessary research.2

"ou di&ersify your in&estment ris% by o$ning shares in a mutual fund, instead

of buying indi&idual stoc%s or bonds directly.

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!ransaction costs are often lo$er than $hat you $ould pay if you in&ested in

indi&idual securities 0the mutual fund buys and sells large amounts of securities

at a time2.

or those $ho are not adept at understanding the stoc% mar%et, the tas% of

generating superior returns at similar le&els of ris% is arduous to say the least. !his is

$here Mutualund,come into picture.

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G$'*t( '& Mutu#% Fu! Bu,i!e,, i! I!i#

!he Indian Mutual fund business has passed through three phases. !he first phase $as

bet$een 1EF and 1EGH, $hen the only player $as the Unit !rust of India, $hich had

a total asset of s. F,H@@- crores at the end of 1EGG. !he second phase is bet$een

1EGH and 1EE4 during $hich period G funds $ere established 0F by ban%s and one

each by ;I> and #I>2. !he total assets under management had gro$n to s. F1,@G-

crores at the end of 1EE and the number of schemes $ere 1FH. !he third phase began

$ith the entry of pri&ate and foreign sectors in the Mutual fund industry in 1EE4.

Kothari )ioneer Mutual fund $as the first fund to be established by the pri&ate sector

in association $ith a foreign fund. !he share of the pri&ate players has risen rapidly

since then.

Wit(i! # ,('$t "e$i' '& ,e/e! -e#$, #&te$ 5= t(e +$'*t( ,t#ti,ti., '& t(e

bu,i!e,, '& Mutu#% Fu!, i! I!i# i, +i/e! i! t(e t#b%e be%'*2

teady gro$th of mutual fund business in India in the four decades from 1EF, $hen

U!I $as set up is gi&en in the table belo$*

Pe$i'

;?e#$>

A++$e+#te

I!/e,tme!t

I! C$'$e, '&

Ru"ee,

Pe$i'

;?e#$>

A++$e+#te

I!/e,tme!t

I! C$'$e, '&

Ru"ee,

1EF-FE FD 1EE-E4 FEGG.@

1EFE-H 1H 1EE4-E F14@1.1

1EH-HE @ 1EE-ED HD@D@.1

1EHE-G 1F1 1EED-EF G1@F.D

1EGF-GH DF4.FG 1EEF-EH G@D4E.@@

1EGH-GG FH4G.G1 1EEH-EG FGEG.@@

1EGG-GE 14DD.FD 1EEG-EE F4H.@@

1EGE-E@ 1E11@.E 1EEE-@@ 1@HEFF.1@

1EE@-E1 4@F@.D @@@-@1 E@DGH.@@

1EE1-E 4HG@.@ @@1-@ EDH1.@@

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Mutual funds- A =I9 history *

!he formation of Unit !rust of India mar%ed the e&olution of the Indian mutual

fund industry in the year 1EF4. !he primary objecti&e at that time $as to attract the

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small investors and it $as made possible through the collecti&e efforts of the

#o&ernment of India and the eser&e =an% of India. !he history of mutual fund

industry in India can be better understood di&ided into follo$ing phases*

Fi$,t P(#,e < 57

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At the end of 1EE4, the mutual fund industry had assets under management of s.H,

@@ crores.

T(i$ P(#,e 5=

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!he second is the U!I Mutual und ;td, sponsored by =I, )N=, =:= and ;I>. It is

registered $ith 9=I and functions under the Mutual und egulations. 8ith the

bifurcation of the erst$hile U!I $hich had in March @@@ more than s.HF, @@@

crores of assets under management and $ith the setting up of a U!I Mutual und,

conforming to the 9=I Mutual und egulations, and $ith recent mergers ta%ing

place among different pri&ate sector funds, the mutual fund industry has entered its

current phase of consolidation and gro$th.

As at the end of eptember, @@, there $ere E funds, $hich manage assets of

s.1D41@G crores under 1 schemes.

699=

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$ith in&estors since the mar%et $as lac%-luster and performances of funds, barring a

fe$, $ere 'uite disappointing for in&estors. !he other aspect of this issue is that

institutional in&estors do not usually fa&or e'uity. It is largely a retail segment product

and $ithout retail depth, most mutual funds ha&e been unable to tap this mar%et. !he

tables gi&en belo$ are a snapshot of the AUM story, for the industry as a $hole and

for debt and e'uity separately.

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): / >:N : IN

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8>T$#!,"#$e!.-2 "ou get regular information on the &alue of your in&estment in

addition to disclosure on the specific in&estments made by your scheme, the

proportion in&ested in each class of assets and the fund managers in&estment strategy

and outloo%.

>F%eibi%it-2 !hrough features such as regular in&estment plans, regular $ithdra$al

plans and di&idend rein&estment plans, you can systematically in&est or $ithdra$

funds according to your needs and con&enience.

>We%% Re+u%#te2 All Mutual unds are registered $ith 9=I and they function

$ithin the pro&isions of strict regulations designed to protect the interests of in&estors.

!he operations of Mutual unds are regularly monitored by 9=I.

D$#*b#.1, '& mutu#% &u!,

12 F%u.tu#ti!+ Retu$!,2 Mutual funds are li%e many other in&estments $ithout a

guaranteed return* there is al$ays the possibility that the &alue of your mutual fund

$ill depreciate. Unli%e fi(ed-income products, such as bonds and !reasury bills,

mutual funds e(perience price fluctuations along $ith the stoc%s that ma%e up the

fund. 8hen deciding on a particular fund to buy, you need to research the ris%s

in&ol&ed just because aprofessional manager is loo%ing after the fund, that doesnt

mean the performance $ill be stellar.

Another important thing to %no$ is that mutual funds are not guaranteed by the U..

go&ernment, so in the case of dissolution, you $ont get anything bac%. !his is

especially important for in&estors in money mar%et funds. Unli%e a ban% deposit, a

mutual fund $ill be insured by the ederal +eposit Insurance >orporation0+I>2.

6>Di/e$,i&i.#ti'!* Although di&ersificationis one of the %eys to successful in&esting,

many mutual fund in&estors tend to o&erdi&ersify. !he idea of di&ersification is to

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reduce the ris%s associated $ith holding a single securityP o&erdi&ersification 0also

%no$n as di$orsification2 occurs $hen in&estors ac'uire many funds that are highly

related and, as a result, dont get the ris% reducing benefits of di&ersification.

At the other e(treme, just because you o$n mutual funds doesnt mean you are

automatically di&ersified. or e(ample, a fund that in&ests only in a particular industry

or region is still relati&ely ris%y.

=>C#,(0 C#,( #! M'$e C#,(2As you %no$ already, mutual funds pool money from

thousands of in&estors, so e&eryday in&estors are putting money into the fund as $ell

as $ithdra$ing in&estments. !o maintain li'uidityand the capacity to accommodate

$ithdra$als, funds typically ha&e to %eep a large portion of their portfolios as cash.

Ca&ing ample cash is great for li'uidity, but money sitting around as cash is not

$or%ing for you and thus is not &ery ad&antageous.

7>C',t,2 Mutual funds pro&ide in&estors $ith professional management, but it comes

at a cost. unds $ill typically ha&e a range of different fees that reduce the o&erall

payout. In mutual funds, the fees are classified into t$o categories* shareholder fees

and annual operating fees.

!he shareholder fees, in the forms of loads and redemption fees are paid directly by

shareholders purchasing or selling the funds. !he annual fund operating fees are

charged as an annual percentage usually ranging from 1-4. !hese fees are assessed

to mutual fund in&estors regardless of the performance of the fund. As you can

imagine, in years $hen the fund doesnt ma%e money, these fees only magnify losses.

:>Mi,%e#i!+ A/e$ti,eme!t,2 !he misleading ad&ertisements of different funds can

guide in&estors do$n the $rong path. ome funds may be incorrectly labeled as

gro$th funds, $hile others are classified as small capor income funds. !he ecurities

and 9(change >ommission09>2 re'uires that funds ha&e at least G@ of assets in

the particular type of in&estment implied in their names. Co$ the remaining assets

arein&ested is up to the fund manager.

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Co$e&er, the different categories that 'ualify for the re'uired G@ of the assets may

be &ague and $ide-ranging. A fund can therefore manipulate prospecti&e in&estors by

using names that are attracti&e and misleading. Instead of labeling itself a small cap, a

fund may be sold as a Qgro$th fundQ. :r, the Q>ongo Cigh-!ech undQ could be sold

$ith the title QInternational Cigh-!ech undQ.

>E/#%u#ti!+ Fu!,2 Another disad&antage of mutual funds is the difficulty they

pose for in&estors interested in researching and e&aluating the different funds. Unli%e

stoc%s, mutual funds do not offer in&estors the opportunity to compare the )9 ratio,

sales gro$th, earnings per share, etc. A mutual fundsnet asset &aluegi&es in&estors

the total &alue of the funds portfolio less liabilities, but ho$ do you %no$ if one fund

is better than anotherL

urthermore, ad&ertisements, ran%ings and ratings issued by fund companies only

describe past performance. Al$ays note that mutual fund descriptionsad&ertisements

al$ays include the tagline Qpast results are not indicati&e of future returnsQ. =e sure

not to pic% funds only because they ha&e performed $ell in the past - yesterdays big

$inners may be todays big losers.

8>T#e,* 8hen ma%ing decisions about your money, fund managers dont consider

your personal ta( situation. or e(ample, $hen a fund manager sells a security, a

capital-gains ta( is triggered, $hich affects ho$ profitable the indi&idual is from the

sale. It might ha&e been more ad&antageous for the indi&idual to defer the capital

gains liability.

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INTRODUCTION TO T3E COMPAN?

UTI MUTUAL FUNDS

Vi,i'!

!o be the most )referred Mutual und.

Ou$ mi,,i'! i, t' m#1e UTI Mutu#% Fu!2

!he most trusted brand, admired by all sta%eholders

!he largest and most efficient money manager $ith global presence

!he best in class customer ser&ice pro&ider

!he most preferred employer

!he most inno&ati&e and best $ealth creator

A socially responsible organisation %no$n for best corporate go&ernance

Ge!e,i,

Jan 1, @@4 is $hen U!I Mutual und started to pa&e its path follo$ing the

&ision of U!I Asset Management >ompany ;imited, $ho has been appointed by the

U!I !rustee >ompany ;imited for managing the schemes of U!I Mutual und and

the schemes transferredmigrated from the erst$hile Unit !rust of India.

!he U!I Asset Management >ompany pro&ides professionally managed bac%

office support for all business ser&ices of U!I Mutual und 0e(cluding fund

management2 in accordance $ith the pro&isions of the In&estment Management

Agreement, the !rust +eed, the 9=I 0Mutual unds2 egulations and the objecti&es

of the schemes. tate-of-the-art systems and communications are in place to ensure a

seamless flo$ across the &arious acti&ities underta%en by U!IM.

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U!I AM> is a registered portfolio manager under the 9=I 0)ortfolio

Managers2 egulations, 1EE4 on 4rd ebruary @@, for underta%ing portfolio

management ser&ices and also acts as the manager and mar%eter to offshore funds

through its 1@@ subsidiary, U!I International ;imited, registered in #uernsey,

>hannel Islands.

A,,et, u!e$ M#!#+eme!t

U!I Asset Management >ompany presently manages a corpus of o&er s.

DF,GD >rores as on 41st +ec @@H 0source* $$$.amfiindia.com2 . U!I Mutual und

has a trac% record of managing a &ariety of schemes catering to the needs of e&ery

class of citi3enry. It has a nation$ide net$or% consisting HE U!I inancial >entres

0U>s2 and U!I International offices in ;ondon, +ubai and =ahrain. 8ith a &ie$ to

reach to common in&estors at district le&el, 4 satellite offices ha&e also been opened in

select to$ns and districts.

!hey ha&e $ell-'ualified, professional fund management teams, $ho ha&e

been highly empo$ered to manage funds $ith greater efficiency and accountability in

the sole interest of unit holders. !he fund managers are also ably supported $ith a

strong in-house securities research department. !o ensure better management of funds,

a ris% management department is also in operation.

Re%i#bi%it-

U!IM has consistently reset and upgraded transparency standards. All the branches,

U>s and registrar offices are connected on a robust I! net$or% to ensure cost-

effecti&e 'uic% and efficient ser&ice. All these ha&e e&ol&ed U!I Mutual und to

position as a dynamic, responsi&e, restructured, efficient and transparent 9=I

compliant entity.

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W'$1 .u%tu$e 2

8e belie&e in pro&iding an en&ironment that encourages employees to achie&e and

fulfil personal goals and that of the company. 8hen the combined force of both, the

employees and the company flo$ in one direction, there is ample amount of

possibilities, opportunities and gro$th. !he $or% culture at U!I Mutual und is

simple R $or% is priority and the rest follo$s. :ur relationship $ith our employees

$or%s both $ays, they gi&e their best and $e gi&e them the best, $e stri%e the right

balance at $or%.

Em"%'-ee Be!e&it,

>ompetiti&e salaries

>omfortable $or% en&ironment

>areer opportunities

Insurance benefits

ecreational amenities

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O$+#!i#ti'! St$u.tu$e

UTI AMC St$u.tu$e

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U!I Asset Management >ompany ;td. 0U!I AM>2 has been promoted by tate =an%

of India, ;ife Insurance >orporation of India, )unjab National =an% and =an% of

=aroda, each holding D of the paid up capital. U!I AM> is the in&estment manager

to the schemes of U!I Mutual und. It also manages offshore funds and pro&ides

support to the pecified Underta%ing of the Unit !rust of India.

It is the holding company for U!I ompany $hich

manages &enture funds and U!I International ;td., $hich mar%ets offshore funds to

o&erseas in&estors. U!I AM> is a 9=I registered P'$t&'%i' M#!#+e$bearing

registration numberINP 9999999and offers +iscretionary, Non-+iscretionary and

Ad&isory ser&ices to Cigh Net 8orth clients, >orporate and Institution

U!it T$u,t '& I!i#$as created by the U!I Act passed by the )arliament in

1EF4.or more than t$o decades it remained the sole &ehicle for in&estment in the

capital mar%et by the Indian citi3ens. In mid- 1EG@s public sector ban%s $ere allo$ed

to open mutual funds. !he real &ibrancy and competition in the M industry came

$ith the setting up of the egulator 9=I and its laying do$n the M egulations in

1EE4.U!I maintained its pre-eminent place till @@1, $hen a massi&e decline in the

mar%et indices and negati&e in&estor sentiments after Ketan )are%h scam created

doubts about the capacity of U!I to meet its obligations to the in&estors. !his $as

further compounded by t$o factorsP namely, its flagship and largest scheme U F

$as sold and re-purchased not at intrinsic NA< but at artificial price and its Assured

eturn chemes had promised returns as high as 1G o&er a period going up to t$o

decades..SS

earing a run on the institution and possible impact on the $hole mar%et

#o&ernment came out $ith a rescue pac%age and change of management in

@@1.ubse'uently, the U!I Act $as repealed and the institution $as bifurcated into

t$o parts .U!I Mutual und $as created as a 9=I registered fund li%e any other

mutual fund. !he assets and liabilities of schemes $here #o&ernment had to come out

$ith a bail-out pac%age $ere ta%en o&er directly by the #o&ernment in a ne$ entitycalled pecified Underta%ing of U!I, UU!I. UU!I holds o&er H sta%e A(is

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=an%. In order to distance #o&ernment from running a mutual fund the o$nership $as

transferred to four institutionsP namely =I, ;I>, =:= and )N=, each o$ning D.

>ertain reforms li%e impro&ing the salary from )U le&els and effecting a ompany has its registered office at* U!I !o$er,

#n =loc%, =andra - Kurla >omple(, =andra 09ast2, Mumbai- @@@D1.It has o&er H@

schemes in domestic M space and has the largest in&estor base of o&er E million in

the $hole industry. It is present in o&er D@ districts of the country and has 1@@

branches called U!I inancial >enters or U>s. About D@ of the total IAs in the

industry $or% for U!I in distributing its productsS India )osts, )U =an%s and all the

large )ri&ate and oreign =an%s ha&e started distributing U!I products. !he total

a&erage Assets Under Management 0AUM2 for the month of June @@G $as s. D4@

billion and it ran%ed fourth. In terms of e'uity AUM it ran%ed second and in terms of

9'uity and =alanced chemes AUM put together it ran%ed I! in the industry. !his

measure indicates its re&enue- earning capacity and its financial strength.

=esides running domestic M chemes U!I AM> is also a registered portfolio

manager under the 9=I 0)ortfolio Managers2 egulations. It runs different portfolios

for is CNI and Institutional clients. It is also running a haria >ompliant portfolio for

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its :ffshore clients. U!I tied up $ith hinsei =an% of Japan to run a large si3e India-

centric portfolio for Japanese in&estors.

or its international operations U!I has set up its 1@@ subsidiary, U!I

International ;imited, registered in #uernsey, >hannel Islands. It has branches in

;ondon, +ubai and =ahrain. It has set up a Joint

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SWOT A!#%-,i, '& UTI Mutu#% Fu!

Strengths of UTI-MF

8ell-positioned to capitali3e on fa&orable macro-economic conditions

and industry dynamics.

;arge focused asset manager $ith di&erse fund offerings, e(perienced

fund managers and record of steady AUM gro$th.

A scheme for e&ery class of citi3enry =road and stable client base and multiple distribution channels.

trong brand recognition

)rofitable structure benefiting from large si3e, automated and integrated

systems, and high proportion of e'uity and balancedhybrid funds.

irst in the industry in terms of 9'uity and =alanced chemes AUM

9(perienced professional management and $ell established state-

sponsors $ith access to )U business opportunities.

We#1!e,,2

)oor ser&ice conditions

;ess penetration in rural areas

AUM $ise thin number

O""'$tu!it-

tability through increased brand a$areness, mar%et penetration and

er&ice offerings

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Cigh untapped mar%et in the semi urban and rural areas

Increased sa&ing habit among people pro&ides a great opportunity for

funds mobili3ation

:ther emerging opportunities in the financial mar%ets

T($e#t,2

Increased competition among local AM>5s

!hreat of increased entry of oreign players in the industry

Cigh le&el of &olatility of the stoc% mar%et

ising inflation could reduce sa&ings of people and thus in&estments

Things you are unaware about UTI-MF:

1@ U!I inancial >enters 0U>s2 across India.

1@ million In&estor base

4E@@@ T Indi&idual inancial Ad&isors 0AMI >ertified2.

D@ T :ffices of >hief epresentati&es / >hief Agents at +istrict/!alu%a le&el out of F@ districts of India.

International :ffices at ;ondon, +ubai, =ahrain / ingapore

!ie ups $ith )U =an%s, elect )ri&ate =an%s, leading distribution

houses / India )ost across the country.

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U!I Mastershare $as the first e'uity mutual fund scheme to be launched

in India in 1EGF / has declared a di&idend e&ery year.

In 1EH1, U!I launched the first Unit ;in%ed Insurance )lan

U!I >hildren5s >areer )lan enabling financial planning specifically for

your >hild5s future 0;aunched in 1EE42.

U!I Mutual und has a fully automated and integrated system for

managing its entire in&estment management process

After its I):, U!I Mutual und $ould become the first asset

management company in India to pro&ide 9:)s to all its employees

ince 1st ebruary @@4, U!I Mutual und has paid out more than s.

FH@@ >rore 0U 1.FG billion2 as di&idend

irst to facilitate transactions through N9 0;aunched in No&ember

@@E2

elected by #:I as one of three asset managers to pro&ide )ortfolio

Management er&ices 0)M2 to the National In&estment und 0QNIQ2.

elected by )+A for )ension unds management under the Ne$

)ension ystem

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Micro )ension initiati&e $ith 98A =an%, >:M)9+, C9)C9+,

MAAN+9CI.

Cas started Mu%hyamantri Kanya ura%sha "ojna $ith #o&t. of =ihar.

Manage offshore and foreign institutional in&estor 0QIIQ2 funds as $ell

as &enture capital and pri&ate e'uity funds.

U!I has tie up $ith hinsei =an% of Japan for running a large si3e India-

centric portfolio for Japanese in&estors.

PRODUCTS OF UTI MUTUAL FUND

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E)uit- ,.(eme,

U!I =an%ing ector und U!I >ontra und

U!I >>) Ad&antage U!I +"

U!I 9nergy und U!I 9'uity und

U!I 9'uity !a( a&ings )lan U!I Infrastructure und

U!I ;eadership 9'uity und U!I Master Inde( und U!I Master plus Unit cheme U!I Master share Unit

cheme

U!I Master und U!I Nifty Inde( und

U!I :pportunities und U!I )harma / Cealthcare

und

U!I under U!I er&ices Industries

und

U!I !op 1@@ und U!I !ransportation /

;ogistics und

U!I 8ealth =uilder und-eriesII

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Debt ,.(eme,

H U!I =ond und .U!I i(ed Maturity )lan

U!I loting ate und .U!I #ilt Ad&antage und

U!I #-ec und .U!I ;i'uid und

U!I !reasury Ad&antage und .U!I Mahila Unit cheme

U!I-MI-Ad&antage )lan .U!I-Money Mar%et und

.U!I-Monthly Income cheme .U!I->!

.U!I-areer )lan 0U!I->>)2

. U!I-etirement =enefit )ension und 0U!I-=)2

. U!I-Unit ;in%ed Insurance )lan 0U!I-U;I)2

Li)ui S.(eme,

U!I Money Mar%et unds

U!I ;i'uid >ash )lan

U!I ;i'uid Ad&antage und

M',t O"te S.(eme, b- I!/e,t'$,

+i&idend "ield und

U!I Mastershare Unit cheme

Unit ;in%ed Insurance )lan 0U;I)2

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A*#$, $e.ei/e b- UTI Mutu#% Fu!

UTI Mahila Unit Scheme has been ranked as the Best Fund over a period

o ive years and has won !ipper Fund "wards #$%%- Indiaunder the

category o Mi&ed "sset I'( )onservative

UTI )hildrens )areer Balanced *lan has been ranked as the Best Fund

over a period o ten years and has won !ipper Fund "wards #$%%-Indiaunder the category o Mi&ed "sset I'( )onservative

UTI AMC , CMO (#, *'! M?KM St#$, '& @!b,"@!b,"I!u,t$-

?'ut( I.'! A*#$ &$'m 74= R#i' FM4

T(e Be,t L#$+e C#" Fu! b- M'$!i!+,t#$ Fu!

@!b,"@!b,"A*#$, ;I!i#>

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CMO (#, *'! M?KM St#$, '& I!u,t$- ?'ut( I.'! A*#$ &$'m

74= R#i' FM S'u$.e

UTI Di/ie! ?ie% Fu! (#, bee! #u+e t(e T(e Be,t L#$+e C#"

Fu! b- M'$!i!+,t#$ Fu! A*#$, ;I!i#>

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T'" Pe$&'$mi!+ I!&$#,t$u.tu$e Fu! < I!.'me444

UTI MF wins the Best 9ebt Fund ouse "ward

G'%e! Pe#.'.1 I!!'/#ti/e A*#$

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UTI D-!#mi. E)uit- Fu! *i!, Si%/e$ #t ICRA O!%i!e444

UTI G$'*t( V#%ue Fu! (#, bee! $#!1e b- CRISIL444

is%

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At the cornerstone of in&esting is the basic principal that the greater the ris% you ta%e,

the greater the potential re$ard. :r stated in another $ay, you get $hat you pay for

and you get paid a higher return only $hen youre $illing to accept more &olatility.

is% then, refers to the &olatility -- the up and do$n acti&ity in the mar%ets and

indi&idual issues that occurs constantly o&er time. !his &olatility can be caused by a

number of factors -- interest rate changes, inflation or general economic conditions.

It is this &ariability, uncertainty and potential for loss, that causes in&estors to $orry.

8e all fear the possibility that a stoc% $e in&est in $ill fall substantially. =ut it is this

&ery &olatility that is the e(act reason that you can e(pect to earn a higher long-term

return from these in&estments than from a sa&ings account.

+ifferent types of mutual funds ha&e different le&els of &olatility or potential price

change, and those $ith the greater chance of losing &alue are also the funds that can

produce the greater returns for you o&er time. o ris% has t$o sides* it causes the &alue

of your in&estments to fluctuate, but it is precisely the reason you can e(pect to earn

higher returns.

"ou might find it helpful to remember that all financial in&estments $ill fluctuate.

!here are &ery fe$ perfectly safe ha&ens and those simply dont pay enough to beat

inflation o&er the long run.

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!ypes of ris%s

All in&estments in&ol&e some form of ris%. >onsider these common types of ris% and

e&aluate them against potential re$ards $hen you select an in&estment.

Market Risk At times the prices or yields of all the securities in a particular mar%et

rise or fall due to broad outside influences. 8hen this happens, the stoc% prices of

both an outstanding, highly profitable company and a fledgling corporation may be

affected. !his change in price is due to Qmar%et ris%Q. Also %no$n as systematic ris%.

Inflation Risk ometimes referred to as Qloss of purchasing po$er.Q 8hene&erinflation rises for$ard faster than the earnings on your in&estment, you run the ris%

that youll actually be able to buy less, not more. Inflation ris% also occurs $hen prices

rise faster than your returns.

Credit Risk In short, ho$ stable is the company or entity to $hich you lend your

money $hen you in&estL Co$ certain are you that it $ill be able to pay the interest

you are promised, or repay your principal $hen the in&estment maturesL

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Interest Rate Risk >hanging interest rates affect both e'uities and bonds in many

$ays. In&estors are reminded that QpredictingQ $hich $ay rates $ill go is rarely

successful. A di&ersified portfolio can help in offsetting these changes.

Exchange risk A number of companies generate re&enues in foreign currencies and

may ha&e in&estments or e(penses also denominated in foreign currencies. >hanges in

e(change rates may, therefore, ha&e a positi&e or negati&e impact on companies $hich

in turn $ould ha&e an effect on the in&estment of the fund.

Investment Risks !he sectoral fund schemes, in&estments $ill be predominantly in

e'uities of select companies in the particular sectors. Accordingly, the NA< of the

schemes are lin%ed to the e'uity performance of such companies and may be more

&olatile than a more di&ersified portfolio of e'uities.

Changes in the Government Policy >hanges in #o&ernment policy especially in

regard to the ta( benefits may impact the business prospects of the companies leading

to an impact on the in&estments made by the fund

An industries %ey asset is often the personnel $ho run the business i.e. intellectual

properties of the %ey employees of the respecti&e companies. #i&en the e&er-changing

comple(ion of fe$ industries and the high obsolescence le&els, a&ailability of

'ualified, trained and moti&ated personnel is &ery critical for the success of industries

in fe$ sectors. It is, therefore, necessary to attract %ey personnel and also to retain

them to meet the changing en&ironment and challenges the sector offers. ailure or

inability to attractretain such 'ualified %ey personnel may impact the prospects of the

companies in the particular sector in $hich the fund in&ests.

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99A>C +9I#N AN+M9!C:+:;:#"

A research design is the et#i%e b%ue"$i!tused to guide a research study to$ard its

objecti&es.

!he process of designing a research study in&ol&es many i!te$$e%#te e.i,i'!,4!he

most significant decision is the choice of research approach, because it determines

ho$ the information $ill be obtained.

!o design something also means to ensure that the pieces fit together. !heachie&ement of this fit among objecti&e, research approach, and research tactics is

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inherently an ite$#ti/e "$'.e,,in $hich earlier decisions are constantly reconsidered

in light of subse'uent decisions.

Re,e#$.( e,i+!

+efining the purpose of research

+etermining the data re'uired and their resources.

A 6uestionnaire $as designed to get detailed information.

ace to face inter&ie$s $as ta%en $ere conducted to get the re'uired

information.

Analysis of +ata

+ra$ing >onclusions

uggestions ecommendation

esearch Methodology*

Tit%e '& t(e P$'e.t Stu-2

A project study conducted for AWARENESS OF MUTUAL FUND AS AN

INVESTMENT AMONG PUBLIC SECTOR BANKS INVESTORS

P$'e.t Du$#ti'!2

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esearch Methodology is a $ay to systematically sol&e the problem. It may be

understood as a science of studying ho$ research is done scientifically. In it $e

study the &arious steps that are generally adopted by the researcher in studying his

research problem along $ith logic behind them. It is necessary for the researcher to

%no$ not only the research methodstechni'ues but also the methodology used.

esearchers not only need to %no$ ho$ to de&elop certain indices or tests, ho$ to

calculate mean or median or mode, ho$ to apply particular research techni'ues but

must also %no$ $hich of these methods or techni'ues are rele&ant and $hat $ould

they mean and indicate and $hy esearch process consists of series of actions or

steps necessary to effecti&ely carry out the research.

!he project $as a uni'ue e(perience for me for trac%ing do$n information from

&arious types of people and all through it is a &ast learning process. !here $ere

se&eral things that I had made out and learnt out of this project of mine.

P$'b%em '& t(e P$'e.t2

!he problem of this project is to %no$ that ho$ much public ban%5s in&estors are

a$are about the mutual fund and $hy they prefer ban%5s to in&est and them far a$ay

from mutual funds industry and $hether they are 'uite a$are about mutual fund or

not.

A""$'#.( t' t(e "$'b%em2

All the objecti&es $ere ta%en into account before preparing the 'uestionnaire. !he

'uestionnaire $as prepared on scientific basis, deliberately hidden 'uestions $ere

as%ed to get the re'uired information.

=esides this, e(tensi&e research $as done. Information $as e(tracted from other sites

of different companies and &arious other mutual fund associations.

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!hough complete focus $as %ept, to broaden the hori3on of research topic, attempt

$as made to %no$ the opportunities and threats related to other players in mutual

funds.

St$#te+i. "%#!!i!+ &'$ t(e Re,e#$.(2

!o familiari3e $ith a business organi3ation.

!o familiari3e $ith the different departments in the organi3ation and

their functioning.

!o enable to understand ho$ the %ey business process are carried out in

organi3ations.

Understand ho$ information is used in organi3ation for decision ma%ing at &arious

le&els.

!o %no$ the history about the company.

!o get clear cut idea about the management and administration.

!o %no$ about the industrial relation in the company.

!o analy3e the strength and $ea%ness.

!o get clear cut idea about the &arious departments and functions.

!o gi&e findings and solutions.

!o relate theory $ith practice.

P$'b%em De&i!iti'!

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ensure that the pieces fit together. !he achie&ement of this fit among objecti&e,

research approach, and research tactics is inherently an ite$#ti/e "$'.e,, in $hich

earlier decisions are constantly reconsidered in light of subse'uent decisions.

!he function of research design is to pro&ide for collection of rele&ant e&idence $ith

minimal e(penditure of time effort and money.

!he follo$ing methodology $as adopted for the study purpose*

T-"e '& $e,e#$.(*

+escripti&e and 'ualitati&e research designs $ere used $hile conducting the project.

ampling +esign $as ta%en by the researcher as the esearch design.

!he major purpose of the study is to describe the state of affairs as it e(ists at present.

Re,e#$.( Met('Te.(!i)ue2

In the project report the researcher used follo$ing techni'ues $hile conducting his

study*

Analysis of documents

ur&ey Method* A mar%et sur&ey $as done on =ANK.

Inter&ie$ 0)ersonal2* =oth open and closed ended 0unstructured2 'uestions

$ere as%ed $hile ta%ing some information from the In&estors of the ban%s at

;U>KN:8.

6uestionnaire 0tructured2* A structured designed comprehensi&e 'uestionnaire $as

framed and )rotested for data collection from the customer of mobile +ata collection

sources

Re,e#$.( D#t#

+ata is the %ey acti&ity of mar%eting research. !he design of the data collecting

method is bac%bone of research design.+ata can be obtained from t$o important sources, namely*

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1. )rimary +ata

. econdary +ata

+ata >ollection !echni'ue*

1. PRIMARY !"RCE

Su$/e- met('2

De&i!iti'!2

ur&ey research is one of the most important areas of measurement in applied social

research. !he broad area of sur&ey research encompasses any measurement

procedures that in&ol&e as%ing 'uestions of respondents.

T-"e, '& ,u$/e-,2

ur&eys can be di&ided into t$o broad categories* the questionnaireand the

interview.

6uestionnaires are usually paper-and-pencil instruments that the respondent

completes.

!he inter&ie$er based on $hat the respondent says completes inter&ie$s.

ue,ti'!!#i$e,2

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M#i% ,u$/e-2$hen a respondent recei&es a 'uestionnaire by mail it is %no$n as mail

sur&ey.

A/#!t#+e,2

!hey are relati&ely ine(pensi&e to administer.

"ou can send the e(act same instrument to a $ide number of people.

!hey allo$ the respondent to fill it out at their o$n con&enience.

Di,#/#!t#+e,2

esponse rates from mail sur&eys are often &ery lo$.

Mail 'uestionnaires are not the best &ehicles for as%ing for detailed $ritten

responses.

G$'u"

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electing the type of sur&ey you are going to use is one of the most critical decisions

in many social research conte(ts. "ou ha&e to use your judgment to balance the

ad&antages and disad&antages of different sur&ey types.

ollo$ing are the issues that the researcher must loo% into before conducting a

research.

S#m"%i!+ i,,ue,2

8hat data is a&ailableL 8hat information do you ha&e about your sampleL

+o you %no$ their current addressesL !heir current phone numbersL Are

your contact lists up to dateL

>an your respondents be locatedL

8ho is the respondent in your studyL If the specific indi&idual is una&ailable is the

researcher $illing to inter&ie$ anotherL

Are response rates li%ely to be a problemL

ue,ti'!,2

8hat types of 'uestions can be as%edL Are they personal or re'uire a detailed

ans$erL

>an 'uestion se'uence be controlledL

"our sur&ey is one $here you can construct in ad&ance a reasonable

se'uence of 'uestionsL :r, are you doing an initial e(ploratory study $here

you may need to as% lots of follo$-up 'uestions that you cant easily

anticipate.

>ost is often the major determining factor in selecting sur&ey type. "ou

might prefer to do personal inter&ie$s, but cant justify the high cost of

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training and paying for the inter&ie$ers. "ou may prefer to send out an

e(tensi&e mailing but cant afford the postage to do so.

+o you ha&e the facilities 0or access to them2 to process and manage your studyL

In phone inter&ie$s, do you ha&e $ell-e'uipped phone sur&eying facilitiesL or

focus groups, do you ha&e a comfortable and accessible room to host the groupL

+o you ha&e the e'uipment needed to record and transcribe responses

ome types of sur&eys ta%e longer than others. +o you need responses

immediately 0as in an o&ernight public opinion poll2L Ca&e you budgeted

enough time for your study to send out mail sur&eys and follo$-up

reminders, and to get the responses bac% by mailL Ca&e you allo$ed for

enough time to get enough personal inter&ie$s to justify

T-"e, '& )ue,ti'!,2

ur&ey 'uestions can be di&ided into t$o broad types2 ,t$u.tu$eand u!,t$u.tu$e

Di.('t'm'u, ue,ti'!,2

8hen a 'uestion has t$o possible responses, $e consider it dichotomous.

ur&eys often use dichotomous 'uestions that as% for a "esNo, !ruealse or

Agree+isagree response.

E4+.please enter your gender

Male female

#. EC!$%ARY !"RCE

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trade area. Co$e&er, the a&ailable population statistics may focus on countries,

cities or census tracts that do not match the trade area of the retail outlet.

!he second general problem that can reduce rele&ancy of secondary data is the

definition of classes. 9.g. a manufacturer may ha&e a product that appeals to

children G to 1 years old. If a&ailable secondary data are based on age categories

D to E and 1@ to 1, the firm $ill ha&e a hard time utili3ing it.

!he final major factor that is affecting rele&ancy is time. #enerally, research

problems re'uire current, if not future, data. Most secondary data, on the other

hand, ha&e been in e(istence for some time.

E4+4 complete census reports are not available for several years. Data are

frequently collected one to three years prior to its publication.

Accuracy is the second major concern of the user of secondary data. !he real

problem is not inaccuracyP it is the difficulty of determining ho$ inaccurate the

data is li%ely to be.

8hile using secondary data, the original source should be used if possible. !his isimportant because, the original report is generally more complete than the second

or third reports. econdly using original source allo$s the data to be e(amined in

conte(t and may pro&ide a better basis for assessing the competence and

moti&ation of the collector.

S'u$.e, '& Se.'!#$- D#t#2

!here are t$o general sources of secondary data R internal ,'u$.e, #! external

,'u$.e,4 Internal data are a&ailable $ithin the firm $hereas e(ternal sources pro&ide

data that are de&eloped outside the firm.

I!te$!#% S'u$.e,2

Internal sources include sales record, sales force reports, operating statements,

budgets, pre&ious research reports and the li%es. !he most useful type of internal

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information is generally sales data. =ut, unfortunately many companies do not collect

or maintain sales data in the manner that allo$s the researcher to tap their full

potential. uch records, if properly utili3ed, allo$s the researcher to isolate profitable

and unprofitable customers, territories, and product lines, to identify de&eloping trends

and perhaps to measure the effects of manipulations of mar%eting mi( &ariables.

Internal data must be collected in a usable format and must be analy3ed to be of &alue.

Many firms ha&e useful but unutili3ed data. =y changing the format of collection

forms 0sales in&oices, salesman call reports, etc2 other useful data can be often

collected. !hey are a&ailable and ine(pensi&eP internal data are the best information

buy.

Ete$!#% S'u$.e,

Numerous sources e(ternal to the firm may produce data rele&ant to the firm5s

re'uirements. !here are four types of general e(ternal secondary information, they

are*

)ublished sources, and

8ebsites.

Pub%i,(e S'u$.e,

!here is &irtually endless array of periodicals, boo%s, dissertations, ne$spapers and

the li%e, that contain information rele&ant to mar%eting decisions.

C(#!!e% i!&'$m#ti'! is a&ailable to the firm at four le&els R manufacturers,intermediaries, retailers and consumers. A manufacturers sales and shipment are

generally a&ailable only through the firms o$n internal records. !herefore, although a

firm can monitor its o$n acti&ities at this le&el, it can only infer the output of other

manufacturing firms.

At the intermediary or $holesale le&el, se&eral syndicated firms pro&ide information

on the flo$ of products and brands to retail outlets. tore audits pro&ide data on the

mo&ement of brands through retail outlets.

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)rospects and scope of research*

A$e# *i,e Ie!ti&-i!+ P'te!ti#% P$',"e.ti/e i,t$ibut'$,0 *(i.( %e#, t' i!.$e#,e

t(e bu,i!e,,4

T3E PROSPECTS2

!he tarting point is e&eryone $ho might concei&ably buy the product

that is called s&s'ects and from these the company determines the most li%ely

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M#$1eti!+ "%#!!i!+ #! i!&'$m#ti'! ,-,temM#$1eti!+ "%#!!i!+ #! i!&'$m#ti'! ,-,temP%#!!i!+ ,-,tem

trategic plans!actical plans

P%#!!i!+ ,-,temtrategic plans!actical plans

I!&'$m#ti'! ,-,tem+atabase

+

I!&'$m#ti'! ,-,tem+atabase

+

54 A+$ee '! Re,e#$.( Pu$"',e54 A+$ee '! Re,e#$.( Pu$"',e

)roblems or opportunities+ecision alternati&esesearch users

)roblems or opportunities+ecision alternati&esesearch users

64E,t#b%i,( Re,e#$.( Obe.ti/e,64E,t#b%i,( Re,e#$.( Obe.ti/e,

esearch 'uestionsCypotheses=oundaries of study

esearch 'uestionsCypotheses=oundaries of study

ESTIMATE

T3E VALUE OFINFORMATIONI, be!e&it .',t

ESTIMATE

T3E VALUE OFINFORMATIONI, be!e&it .',t

DO NOTCONDUCT MRDO NOTCONDUCT MR

74 De,i+! t(e $e,e#$.(74 De,i+! t(e $e,e#$.(

>hoose among alternati&e research approachespecify the sampling plan

+esign the e(periment+esign the 'uestionnaire

>hoose among alternati&e research approachespecify the sampling plan

+esign the e(periment+esign the 'uestionnaire

:4 C'%%e.t t(e #t#:4 C'%%e.t t(e #t#

4 P$e"#$e #! #!#%-e t(e #t#4 P$e"#$e #! #!#%-e t(e #t#

84 Re"'$t t(e $e,e#$.( $e,u%t, #! "$'/ie ,t$#te+i.

$e.'mme!#ti'!,4

84 Re"'$t t(e $e,e#$.( $e,u%t, #! "$'/ie ,t$#te+i.

$e.'mme!#ti'!,4

'ros'ects$hich it hopes to con&ert into first time customers then repeat customers

and then clients.

RESEARC3

PROCESS2 STEPS2

- DD -

Su,"e.t,

P$',"e.t,

Fi$,t Time Cu,t'me$,

Re"e#t Cu,t'me$,

C%ie!t,

Di,)u#%i&ie P$',"e.t,

Membe$,

A/'.#te,

P#$t!e$,

I!#.ti/e '$ e .u,t'me$,

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LIMITATION OF T3E PROJECT2

Many constraints $ere in&ol&ed in doing this study. ome of them are*-

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!he most signified limitation has been the indi&iduals in&ol&ed in this study

had a little e(perience.

!he sample si3e selected for the sur&ey $as too small as compared to large

population.

!he project $as carried out only in the Jaipur city so findings on data

gathered can be best true for Jaipur only and not applicable to other parts of

state and country.

:ur reliance $as made on the primary data.

!ime and money are critical factors limiting this study.

!he data pro&ided by the prospects may not be 1@@ correct as they too ha&e

their limitations.

inding and suggestion ha&e been gi&en from personal point of &ie$.

+ue to $or% pressure, detailed interaction $ith the chartered accountants and

ta( consultants $as not possible.

ome people $ere not $illing to disclose the in&estment profile.

!he baseness $as being ta%en care of.

!he area of sample $as decided after ta%ing into consideration the major

factors li%e*

A&ailability of in&estors

Approachability.

!ime a&ailable $ith in&estor for interaction, etc.

A$e# '& S#m"%e2

!he areas co&ered up in this sur&ey $as ;U>KN:8

Se%e.ti'! '& u!it, u!e$ ,tu-2

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A$ti.%e I4 AREA OF LUCKNOW W3ERE SURVE? IS DONE

12 #omti nagar

2 Kapoorthala

42 Indira nagar

2 Cajaratganj

D2 Aliganj

S'u$.e %i,t ;S#m"%i!+ F$#me>2

GOVERNMENT EMPLO?EES2 6

NON GOVT EMPLO?EES2 6

BUSINESS MAN2 78

OT3ERS2 5=

S#m"%e ,ie2 5:9

S#m"%i!+ P$'.eu$e2 P$'b#bi%it- S#m"%i!+ ;Sim"%e R#!'m S#m"%i!+

+ata analysis and interpretation*

ue.5>Pe$,'!#% Det#i%,2

;#>4 N#me24 A2 4C'!t#.t N'24 A+e24 u#%i&i.#ti'!24 O..u"#ti'!4 P% ti.1 ;>

G'/t4 Se. 6 $e,"'!e!t,

P/t4 Se. 6 $e,"'!e!t,

Bu,i!e,, 78 $e,"'!e!t,

A+$i.u%tu$e @ Ot(e$, 5= $e,"'!e!t,

I!te$"$et#ti'!2irst 'uestion $as to determine G participants $ere in go&t sector,

F participants $ere in p&t sector, H participants $ere in business and 14 participants

$ere in agriculture

ue46> W(#t i, -'u$ eu.#ti'! )u#%i&i.#ti'!

#4 u!e$ +$#u#te

b4 G$#u#te

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.4 PG

4 #!- 't(e$

A!,2< ;#> =6 ;b> :8

;.> =

;> 6=

I!te$"$et#ti'!2 econd 'uestion $as to determine the educational 'ualification of

1D@ participants, in $hich 4 participants $ere under graduate, DH $ere graduate, 4G

participants $ere post graduate and 4 $ere other degree holder

=4 W(#t i, -'u$ m'!t(%- mi%- i!.'me #""$'im#te%- P% ti.1 ;>4

;#>U" t' R,4590 999

;b>R,4 590995 t' 5:0999

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;.>R,4 5:0995 t' =90999

;>R,4 =90995 #! #b'/e

A!,2< ;#> =: ;b> :5

;.> =

;> 6:

I!te$"$et#ti'!2 !hird 'uestion $as to determine monthly family income of

participants among $hich 4 participants monthly family income is upto rs. 1@,@@@,

4D participants monthly family income is 1@,@@1 to 1D,@@@, D participants

monthly family income is 1D,@@1 to 4@,@@@ and 1H participants monthly family

income is 4@,@@@ / abo&e. !hat5s sho$s ma(imum participants belong 1@,@@@ to

1D,@@@

ue47> W(#t 1i! '& i!/e,tme!t, -'u "$e&e$ m',t P% ti.1 ;>4 A%% #""%i.#b%e4

#4 S#/i!+ #..'u!t

b4 Fie e"',it,

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.4 I!,u$#!.e

4 Mutu#% Fu!

e4 P',t O&&i.e

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.4 L'* Ri,1

4 3i+( Retu$!

e4 A!- '!e

I!te$"$et#ti'!2 ifth 'uestion $as to determine that during the in&estment $hat the

things that participants consider are high return, lo$ ris%, li'uidity, company

reputation and other. :n the basis of research $e can say that first preference is high

return, second one is li'uidity and third one is lo$ ris%.

ue4> 3#/e -'u e/e$ i!/e,te -'u$ m'!e- i! mutu#% &u!

#4 ?e,

b 4N'

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A!,2< #> 5

b> :

1. I!te$"$et#ti'!2 i(th 'uestions $as to chec% that ho$ many participants ha&e

in&ested their money in mutual fund and ho$ many ha&e not, among 1D@

participants @ participants ha&e in&ested and F@ ha&e not. !hat sho$s many

people are not a$are about mutual fund.

84 W(e$e ' -'u &i! -'u$,e%& #, # mutu#% &u! i!/e,t'$

#4 T't#%%- i+!'$#!t Q

b4 P#$ti#% 1!'*%e+e '& mutu#% &u!, Q

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.4 A*#$e '!%- '& #!- ,"e.i&i. ,.(eme i! *(i.( -'u i!/e,te Q

4 Fu%%- #*#$e Q

A!,2< #> 68 b> 89

.> =

> 58

I!te$"$et#ti'!2 !his 'uestions $as to determine the a$areness of mutual fund among

participants that sho$s F are partially a$are about mutual fund and rest are totally

ignorant, a$are only of any specific scheme and fully a$are.

4 I! *(i.( 1i! '& mutu#% -'u *'u% %i1e t' i!/e,t

#4 Pub%i. Q

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b4 P$i/#te Q

A!,2< #> :

b> 7:

I!te$"$et#ti'!2!his 'uestion $as to determine $hether the participants in&est their

money in public sector or in pri&ate sector. F4 participants are li%e to in&est in

pri&ate sector and only 4H participants li%e to in&est in public sector

4 3'* ' -'u .'me t' 1!'* #b'ut Mutu#% Fu!

#4 A/e$ti,eme!tb4 Pee$ G$'u"

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.4 B#!1,

4 Fi!#!.i#% A/i,'$,

A!,2< #> ==

b> 76 .> 7

> 68

I!te$"$et#ti'!2 !his 'uestion $as to determine $hat are the sources of information

about mutual fund among participants on the basis of graph 44 participants $as a$are

by ad&ertisement, participants by peer group, G participants by ban%s and H by

financial ad&isors.

594 W(i.( mutu#% &u! ,.(eme (#/e -'u u,e

#4 O"e!

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4 G$'*t( &u!

. I!te$"$et#ti'!2!his 'uestion $as to determine $hich mutual fund scheme ha&e

participants used. :n the basis of 'uestionnaires E participants use open-ended

and 1 participants use close-ended, participants use li'uid fund and 4G

participants use gro$th fund.

ue455> i& !'t i!/e,te i! Mutu#% Fu! t(e! *(-

#4 N't #*#$e '& MF

b4 3i+(e$ $i,1

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.4 N't #!- ,"e.i&i. $e#,'!

I!te$"$et#ti'!2 !his 'uestion $as to determine that if participants not in&ested in

Mutual fund then $hyL @n the basis of primary data F1 participants not in&ested inmutual fund due to una$areness of mutual fund, E participants not in&ested in mutual

fund due to high ris% and E participants not in&ested in mutual fund because of not

any specific reason.

ue456> W(i.( &e#tu$e '& t(e mutu#% &u!, #%%u$e -'u m',t

#4 Di/e$,i&i.#ti'! Q

b4 Bette$ $etu$! #! ,#&et- Q

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.4 Reu.ti'! i! $i,1 #! t$#!,#.ti'! .',t Q

4 Re+u%#$ I!.'me Q

e4 T# be!e&it Q

I!te$"$et#ti'!2 !his 'uestion $as to chec% that $hich feature of the mutual funds

allure the participants most and D participants in&est in mutual fund due to

di&ersification, 4 in&est due to better return, in&est in&ested due to reduction in

ris% and transaction costs. 4F participants in&ested due to regular income and 14

in&ested because of ta( benefit.

ue45=> I! *(i.( Mutu#% Fu! -'u (#/e i!/e,te P%e#,e ti.1 ;>4 A%% #""%i.#b%e4

#4 SBIMF

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b4 UTI

.4 3DFC

4 Re%i#!.e

e4 ICICI "$ue!ti#% &u!,&4 JM mutu#% &u!

+4 't(e$4 S"e.i&-

I!te$"$et#ti'!2 !his 'uestion $as to determine that ho$ many participants among

1D@ ha&e in&ested in $hich mutual fund and on the basis of the 'uestionnaire $e cansay that F participants ha&e in&ested in =I mutual fund, 1E participants ha&e

in&ested in 9;IAN>9, D participants ha&e in&ested in C+>, 4@ participants ha&e

in&ested in U!I, participants ha&e in&ested in I>I>I, 1D participants ha&e in&ested

in JM mutual fund and 11 participants ha&e in&ested in other mutual fund.

ue457> W(e! -'u i!/e,t i! Mutu#% Fu!, *(i.( m'e '& i!/e,tme!t

Wi%% -'u "$e&e$

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b4 B$'1e$, '!%- Q

.4 B$'1e$, ,ub

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ii4 Oi% #! "et$'%eum

iii4 G'% &u!

i/4 Di/e$,i&ie e)uit- &u!

/4 Debt &u!/i4 B#!1i!+ &u!

/ii4 Re#% e,t#te &u!

I!te$"$et#ti'!2 :n the basis of this 'uestion $e can say that among 1D@ participantsG participants are in&esting in general 1stsector, 1G participants are in&esting in :il /

petroleum sector, H participants are in&esting in gold sector, 4G participants are

in&esting in +i&ersified e'uity fund sector, D participants are in&esting in ban%ing

fund and 1 participants are in&esting in real estate fund.

54 3'* *'u% -'u %i1e t' $e.ei/e t(e $etu$!, e/e$- -e#$

#4 Di/ie! "#-'ut

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8ell-positioned to capitali3e on fa&orable macro-economic conditions

and industry dynamics.

;arge focused asset manager $ith di&erse fund offerings, e(perienced

fund managers and record of steady AUM gro$th.

A scheme for e&ery class of citi3enry

=road and stable client base and multiple distribution channels.

trong brand recognition

)rofitable structure benefiting from large si3e, automated and integrated

systems, and high proportion of e'uity and balancedhybrid funds.

irst in the industry in terms of 9'uity and =alanced chemes AUM

9(perienced professional management and $ell established state-

sponsors $ith access to )U business opportunities.We#1!e,,2

)oor ser&ice conditions

;ess penetration in rural areas

AUM $ise

th

in number

O""'$tu!it-

tability through increased brand a$areness, mar%et penetration and

er&ice offerings

Cigh untapped mar%et in the semi urban and rural areas

Increased sa&ing habit among people pro&ides a great opportunity forfunds mobili3ation

:ther emerging opportunities in the financial mar%ets

T($e#t,2

Increased competition among local AM>5s

!hreat of increased entry of oreign players in the industry

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Cigh le&el of &olatility of the stoc% mar%et

ising inflation could reduce sa&ings of people and thus in&estments

indings*

;uc%no$ has huge untapped mar%et as far as M is concerned.

Mutual unds are more of an in&estment option than the speculati&e a&enue.

)eople tend to gain through long in&estments rather than through short term.

=ro%er5s ad&ice matters to as many of the people. Major part of people preferred

self-e&aluation as best.

Most of the people loo% at the returns that are gi&en by funds some are in this

fa&or and some people are those $ho consider und name and current NA< ofthe fund before in&esting into a Mutual und.

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9(perience $as the main factor that made a person in&est in mutual funds.

;imitation

)eople are not $illing to ta%e much ris% and bear loss.

or proper e&aluation it $as insufficient time.

:n the basis of particular area $e cannot conclude $hole.

Information pro&ided by respondents may be false.

;ac% of a$areness about M in public.

;ac% of interest.

;ac% of cooperation from the respondents.

ecommendations and uggestions

=rand 9'uity of U!I is &ery high just, so go / hit the mar%et.

emo&e the differences in perception of audience about )ri&ate >ompany /

)U.

>reate A$areness about Mutual und.

;iterate audience about M as better in&estment option.

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un some program to bring M in final decision set $hile prospects decide

about distributorship.

Ad&ertisement on tele&ision is the main source of attraction so the company

must ad&ertise its products hea&ily.

)roduct must be impro&ed.

!here should be pro&ision of complain suggestion bo(es at each branch

=ibliography

Annual report of the >ompany.

Kotare )hilip., 7Mar%eting Management?, )earson 9ducation, India, @@.

Kothari. >.., 7esearch Methodology?, Ne$ Age )ublication, India, @@F.

(tt"2***4#m&ii!i#4.'m

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(tt"2e!4*i1i"ei#4'$+*i1iMutu#%&u!

(tt"2utim&4.'m

(tt"2***4m'!e-.'!t$'%4.'m

(tt"2***4+et"#ii!i#4.'m.#te+'$-mutu#%4 N#me24 A2 4C'!t#.t N'24 A+e24 u#%i&i.#ti'!24 O..u"#ti'!4 P% ti.1 ;>

G'/t4 Se. P/t4 Se.

Bu,i!e,,

A+$i.u%tu$e @ Ot(e$,

ue46> W(#t i, -'u$ eu.#ti'! )u#%i&i.#ti'!

#4 u!e$ +$#u#te

b4 G$#u#te

.4 PG

4 #!- 't(e$

ue4=> W(#t i, -'u$ m'!t(%- mi%- i!.'me #""$'im#te%- P% ti.1 ;>4

;#>U" t' R,4590 999

;b>R,4 590995 t' 5:0999

;.>R,4 5:0995 t' =90999

;>R,4 =90995 #! #b'/e

ue47> W(#t 1i! '& i!/e,tme!t, -'u "$e&e$ m',t P% ti.1 ;>4 A%% #""%i.#b%e4

#4 S#/i!+ #..'u!t

b4 Fie e"',it,

.4 I!,u$#!.e

4 Mutu#% Fu!

e4 P',t O&&i.e

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4 PF

ue4:> W(i%e i!/e,ti!+ -'u$ m'!e-0 *(i.( .t'$ -'u "$e&e$ m',t

#4 C'm"#!- $e"ut#ti'!

b4 Li)uiit-

.4 L'* Ri,1

4 3i+( Retu$!

e4 A!- '!e

ue4> 3#/e -'u e/e$ i!/e,te -'u$ m'!e- i! mutu#% &u!

#4 ?e,

b 4N'

ue48> W(e$e ' -'u &i! -'u$,e%& #, # mutu#% &u! i!/e,t'$

#4 T't#%%- i+!'$#!t Q

b4 P#$ti#% 1!'*%e+e '& mutu#% &u!, Q

.4 A*#$e '!%- '& #!- ,"e.i&i. ,.(eme i! *(i.( -'u i!/e,te Q

4 Fu%%- #*#$e Q

ue4> I! *(i.( 1i! '& mutu#% -'u *'u% %i1e t' i!/e,t

#4 Pub%i. Q b4 P$i/#te Q

ue4> 3'* ' -'u .'me t' 1!'* #b'ut Mutu#% Fu!

#4 A/e$ti,eme!t

b4 Pee$ G$'u"

.4 B#!1,

- G4 -

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4 Fi!#!.i#% A/i,'$,

594 W(i.( mutu#% &u! ,.(eme (#/e -'u u,e

#4 O"e! i& !'t i!/e,te i! Mutu#% Fu! t(e! *(-

#4 N't #*#$e '& MF

b4 3i+(e$ $i,1

.4 N't #!- ,"e.i&i. $e#,'!

ue456> W(i.( &e#tu$e '& t(e mutu#% &u!, #%%u$e -'u m',t

#4 Di/e$,i&i.#ti'! Q

b4 Bette$ $etu$! #! ,#&et- Q

.4 Reu.ti'! i! $i,1 #! t$#!,#.ti'! .',t Q

4 Re+u%#$ I!.'me Q

e4 T# be!e&it Q

ue45=> I! *(i.( Mutu#% Fu! -'u (#/e i!/e,te P%e#,e ti.1 ;>4 A%% #""%i.#b%e4

#4 SBIMF

b4 UTI

.4 3DFC

4 Re%i#!.e

e4 ICICI "$ue!ti#% &u!,

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&4 JM mutu#% &u!

+4 't(e$4 S"e.i&-

ue457> W(e! -'u i!/e,t i! Mutu#% Fu!, *(i.( m'e '& i!/e,tme!tWi%% -'u "$e&e$

#4 O!e Time I!/e,tme!t

b4 S-,tem#ti. I!/e,tme!t P%#! ;SIP>

ue45:> W(e$e &$'m -'u "u$.(#,e mutu#% &u!,

#4 Di$e.t%- &$'m t(e AMC, Q

b4 B$'1e$, '!%- Q

.4 B$'1e$, ,ub W(i.( AMC *i%% -'u "$e&e$ t' i!/e,t

A,,et, M#!#+eme!t C'4

#4 SBIMF

b4 UTI

.4 Re%i#!.e

4 3DFC

e4 K't#1&4 ICICI

+4 JM &i!#!.e

ue458> W(i.( ,e.t'$ #$e -'u i!/e,ti!+ i! mutu#% &u! ,e.t'$

i4 Ge!e$#% 5,t

ii4 Oi% #! "et$'%eum

- GD -

8/11/2019 139375921 Uti Mutual Fund

86/86

iii4 G'% &u!

i/4 Di/e$,i&ie e)uit- &u!

/4 Debt &u!

/i4 B#!1i!+ &u!/ii4 Re#% e,t#te &u!

ue45> 3'* *'u% -'u %i1e t' $e.ei/e t(e $etu$!, e/e$- -e#$

#4 Di/ie! "#-'ut

b4 Di/ie! $e