Upload
kavita8642
View
229
Download
0
Embed Size (px)
Citation preview
8/8/2019 Mutual Funds Training ICICI
1/72
PERFORMANCE COMPARISON OF
DIFFERENT MUTUAL FUNDS
Kavita Singh
097609
8/8/2019 Mutual Funds Training ICICI
2/72
8/8/2019 Mutual Funds Training ICICI
3/72
ICICI Prudential AMC
8/8/2019 Mutual Funds Training ICICI
4/72
At inceptionMay 1998
As on April 30,2010
Average Assets UnderManagement
Rs. 160 Crores Rs. 83069.89Crores
Number of FundsManaged
2 40
Assets Under Management
8/8/2019 Mutual Funds Training ICICI
5/72
IntegrityCustomer First
BoundarylessOwnershipPassion
Values At ICICI Prudential
8/8/2019 Mutual Funds Training ICICI
6/72
MANAGEMENTMr. Nimesh ShahManaging Director and Chief Executive OfficerMr. Kalyan PrasathH ead - Information TechnologyMr. Hemant AgarwalH ead Operations
FU ND MANAGERSMr. S. NarenMr. Chaitanya Pandey
BO ARDO F DIRECTO RSMs. Chanda Kocchar Chairperson
Management Team
8/8/2019 Mutual Funds Training ICICI
7/72
Mutual Fund Industry
Sponsor
Trust
Asset Management Company
8/8/2019 Mutual Funds Training ICICI
8/72
W hat is a Mutual Fund?
8/8/2019 Mutual Funds Training ICICI
9/72
Fo r example:Market value = Rs. 100,000
No. of units = 10,000.
NAV of this scheme = (A)/(B)
=100,000/10,000 or Rs.10.00
NAV
8/8/2019 Mutual Funds Training ICICI
10/72
Mutual Funds Structure
8/8/2019 Mutual Funds Training ICICI
11/72
Risk Return Profile
8/8/2019 Mutual Funds Training ICICI
12/72
Types Of Risks
8/8/2019 Mutual Funds Training ICICI
13/72
Market Share of Players(2009)
8/8/2019 Mutual Funds Training ICICI
14/72
Types Of Mutual Funds
8/8/2019 Mutual Funds Training ICICI
15/72
8/8/2019 Mutual Funds Training ICICI
16/72
Scheme Type TimeHo rizo n
RiskProf ile
Typical Investment Pattern
Objective Open Close Equity(%)
Debt(%)
Money Market/Others (%)
MoneyMarket
Yes No Short- Term Low 0 80-100
80-100
Income Yes Yes Medium-Long Term
Low tomedium
0 0-20 0-20
Growth Yes Yes Long Term H igh 80-100 0-20 0-20
Balanced Yes Yes Long Term Medium toH igh
0-60 0-40 0-20
TaxSaving
Yes Yes Long Term H igh 80-100 80-100
0-20
8/8/2019 Mutual Funds Training ICICI
17/72
The Treynor Measure
The Sharpe MeasureJenson ModelFama Model
Performance Measures Of MFs
8/8/2019 Mutual Funds Training ICICI
18/72
Treynor's Index(Ti) = (Ri - Rf )/ i.
whereRi represents return on fund,Rf is risk free rate of return
i is beta of the fund.
Treynor s Index
8/8/2019 Mutual Funds Training ICICI
19/72
Sharpe s Index
Sharpe s Index(Si) = (Ri - Rf )/ S i.
whereRi represents return on fund,
Rf is risk free rate of returnSi is Std. Dev. of the fund.
8/8/2019 Mutual Funds Training ICICI
20/72
Jenson s Model
Ri = Rf + i (Rm - Rf )
whereRi represents return on fund,Rf is risk free rate of return
i is Std. Dev. of the fund.Rm is average market return.
8/8/2019 Mutual Funds Training ICICI
21/72
Fama Model
Ri = Rf + Si/Sm* (Rm - Rf )
whereRi represents return on fund,Rf is risk free rate of return
i is Std. Dev. of the fund.Rm is average market return.Sm is standard deviation of market returns
8/8/2019 Mutual Funds Training ICICI
22/72
The period chosen for the study is from1 st April, 2009 t o 31 st March, 20 10.
5 companies are taken for comparison.
SCOPE OF TH E STUDY
8/8/2019 Mutual Funds Training ICICI
23/72
The average of the monthly yields on91-day GOI T-bills is calculated to calculate R f .
Therefore, the average yield =3.55 % is the risk free rate of return
Source:- www.rbi.com
Calculation Of Risk Free Rate Of Return
MONTH YIELD
Apr-09 3.81
May-09 3.25
Jun-09 3.34
Jul-09 3.22
Aug-09 3.34
Sep-09 3.33
Oct-09 3.23
Nov-09 3.27
Dec-09 3.54
Jan-10 3.85
Feb-10 4.11
Mar-10 4.33
8/8/2019 Mutual Funds Training ICICI
24/72
Birla Sun Life Mutual Fund
Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany:
Birla Sun Life Equity Fund (Growth)
Birla Sun Life Income Fund (Growth)
Birla Sun Life Tax Plan (Growth)
8/8/2019 Mutual Funds Training ICICI
25/72
Birla Sun Life Equity Fund (Growth)
Month Net Assets Value Monthly Return
Apr-09 123.90 - 183.76 48.3132
May-09 183.76 - 195.43 6.3507
Jun-09 195.43 - 194.66 -0.394
Jul-09 194.66 - 216.34 11.1374Aug-09 216.34 - 216.34 0
Sep-09 216.34 - 231.95 7.2155
Oct-09 231.95 - 223.08 -3.8241
Nov-09 223.08 - 239.77 7.4816
Dec-09 239.77 - 252.08 5.1341Jan-10 252.08 - 241.77 -4.09
Feb-10 241.77 - 237.14 -1.915
Mar-10 237.14 - 252.91 6.6501
AVERAGE RETURN 6.84%
8/8/2019 Mutual Funds Training ICICI
26/72
8/8/2019 Mutual Funds Training ICICI
27/72
Birla Sun Life Income Fund (Growth)
Mo nth Net Assets Value M o nthly ReturnApr-09 32.0807 - 31.9038 -0.55 14May-09 31.9038 - 32.304 5 1 .2560Jun-09 32.304 5 - 33.0633 2.3 48 9Jul-09 33.0633 - 32.8129 -0.7573Aug-09 32.8129 - 33.0 5 89 0.7 497Sep-09 33.0 5 89 - 33.3736 0.95 19O ct-09 33.3736 - 33.913 5 1 .6177No v-09 33.913 5 - 33.7813 -0.3 898Dec-09 33.7813 - 33.841 5 0.1782
Jan- 10 33.841 5 - 33.7849 -0.1673Feb- 10 33.7849 - 33.7849 0.0000Mar- 10 33.7849 - 33.9643 0.53 10
AVERAGE RETURN
0.4806 %
8/8/2019 Mutual Funds Training ICICI
28/72
8/8/2019 Mutual Funds Training ICICI
29/72
Birla Sun Life Tax Plan (Growth)
Mo nth Net Assets Value M o nthly ReturnApr-09 7.13 - 8.6 5 21.3184May-09 8.6 5 - 10.66 23.2370Jun-09 10.66 - 10.28 -3.56 47
Jul-09 10.28 - 11.44 11 .284 0Aug-09 11.44 - 11.44 0.0000Sep-09 11.44 - 12.19 6.5559O ct-09 12.19 - 11.42 -6.3 167No v-09 11.42 - 12.24 7.18 04Dec-09 12.24 - 12.87 5.14 71Jan- 10 12.87 - 12.1 5 -5.59 44Feb- 10 12.1 5 - 12.09 -0.4938Mar- 10 12.09 - 12.8 5 6.2 862
AVERAGE RETU RN 5.41 99 %
8/8/2019 Mutual Funds Training ICICI
30/72
8/8/2019 Mutual Funds Training ICICI
31/72
Funds PerformanceParticular Average
Return
Sharpe Index
Ratio
Rank
Birla Sun Life Equity Fund-Growth 6.8383 % 0.235 I
Birla Sun Life Income Fund -Growth 0.4806 % -3.259 III
Birla Sun Life Tax Plan (Growth) 5.4199 % 0.1947 II
5
Birla Sun Life uit Fund-Growth
Birla Sun Life IncomeFund -Growth
Birla Sun Life Tax Plan(Growth)
Average Return
-3.5
-3
-2.5
-2
-1.5
-1
-0.5
0
0.5
Birla Sun Life EquityFund-Growth
Birla Sun Life IncomeFund -Growth
Birla Sun Life Tax Plan(Growth)
Shar pe In de x Rat io
8/8/2019 Mutual Funds Training ICICI
32/72
Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany:
Kotak Equity-FOF-Growth
Kotak Income Plus-(Growth)
Kotak Tax Saver-Scheme-Growth
Kotak Mahindra Mutual Fund
8/8/2019 Mutual Funds Training ICICI
33/72
Kotak Equity-FOF-GrowthMo nth Net Assets Value M o nthly ReturnApr-09 18.7 55 - 20.77 10.7 438May-09 20.77 - 27.76 33.65 43Jun-09 27.76 - 27. 5 16 -0.8790Jul-09 27. 5 16 - 30.134 9.5 14 5
Aug-09 30.134 - 30.134 0.0000Sep-09 30.134 - 32.362 7.3936O ct-09 32.362 - 31.2190 -3.53 19No v-09 31.2190 - 33.2 5 60 6.52 49Dec-09 33.2 5 60 - 34.3 5 4 3.30 17Jan- 10 34.3 5 4 - 33.10 5 0 -3.6357
Feb- 10 33.10 5 0 - 32.9910 -0.3 444Mar- 10 32.9910 - 34.8960 5.77 43
AVERAGE RETU RN5.7097%
8/8/2019 Mutual Funds Training ICICI
34/72
8/8/2019 Mutual Funds Training ICICI
35/72
Kotak Income Plus-Growth
Mo nth Net Assets Value M o nthly ReturnApr-09 12.83 5 7 - 13.1026 2.079 4May-09 13.1026 - 13.736 4.8342Jun-09 13.736 - 13.6629 -0.52 49
Jul-09 13.736 - 14.0937 3.1455Aug-09 14.0937 - 14.0937 0.0000Sep-09 14.0937 - 14.16 5 1 0.5066O ct-09 14.16 5 1 - 14.2771 0.7907No v-09 14.2771 - 14. 5 15 3 1.66 84Dec-09 14. 5 15 3 - 14.6471 0.90 80
Jan- 10 14.6471 - 14. 5 702 -0.5250Feb- 10 14. 5 702 - 14. 55 97 -0.072 1Mar- 10 14. 55 97 - 14.8148 1.752 1
AVERAGE RETU RN 1.2136%
8/8/2019 Mutual Funds Training ICICI
36/72
8/8/2019 Mutual Funds Training ICICI
37/72
Kotak Tax Saver Scheme-Growth
Mo nth Net Assets Value M o nthly ReturnApr-09 9.122 - 9.98 9.4058May-09 9.98 - 13.789 38.1663Jun-09 13.789 - 13.447 -2.48 02Jul-09 13.447 - 14.894 10.760 8
Aug-09 14.894 - 14.894 0.0000Sep-09 14.894 - 1 5 .918 6.8753O ct-09 15 .918 - 14.9270 -6.2257No v-09 14.9270 - 16.06 7.5903Dec-09 16.06 - 16.67 5 3.8294
Jan- 10 16.67 5 - 15 .85 -4.9475Feb- 10 15 .85 - 15 .8110 -0.2 461Mar- 10 15 .8110 - 17.1080 8.203 1
AVERAGE RETU RN (in %age) 5.9 11 0%
8/8/2019 Mutual Funds Training ICICI
38/72
8/8/2019 Mutual Funds Training ICICI
39/72
Funds Performance
Particular Average Return Sharp Index Rati o Rank
Kotak Equity-FOF-Growth 5 .7097 % 0.2144 I
Kotak Income Plus-(Growth) 1.2136 % - 1.4634 III
Kotak Tax Saver-Scheme-
Growth
5 .9110 % 0.1637 II
-2
-1.5
-1
-0.5
0
0.5
Kotak Equity-FOF Kotak Income Plus Kotak Tax Saver
Sharpe Index Rati o
0.00%
1.00%
2.00%
3.00%
4.00%
5 .00%
6.00%
7.00%
Kotak Equity-FOF Kotak Income Plus Kotak Tax Saver
Average Return
8/8/2019 Mutual Funds Training ICICI
40/72
Escorts Mutual Fund
Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany
Escorts Growth Plan (Growth)
Escorts Income Plan (Growth)
Escorts Tax Plan (Growth)
8/8/2019 Mutual Funds Training ICICI
41/72
Escorts Growth Plan (Growth)
Mo nth Net Assets Value M o nthly Return
Apr-09 34.81 55 - 36.6330 5.220 4
May-09 36.6330 - 5 6.9001 55.32 47
Jun-09 5 6.9001 - 55 .5 782 -2.3232
Jul-09 55 .5 782 - 60.7149 9.2 423
Aug-09 60.7149 - 60.7149 0.0000
Sep-09 60.7149 - 63.0134 3.7 857O ct-09 63.0134 - 60.73 5 1 -3.6 156
No v-09 60.73 5 1 - 64.4480 6.11 33
Dec-09 64.4480 - 68.3673 6.0 81 3
Jan- 10 68.3673 - 6 5 .7441 -3.8369
Feb- 10 65 .7441 - 64.8682 -1.3323Mar- 10 64.8682 - 70.12 5 0 8.1038
AVERAGE RETU RN 6.8970%
8/8/2019 Mutual Funds Training ICICI
42/72
8/8/2019 Mutual Funds Training ICICI
43/72
Escorts Income Plan (Growth)
Mo nth Net Assets Value M o nthly Return
Apr-09 27.1 5 35 - 28.2081 3.88 38May-09 28.2081 - 27.8613 -1.229 4Jun-09 27.8613 - 28.1730 1.1188Jul-09 28.1730 - 28.1160 -0.2023Aug-09 28.1160 - 28.1160 0.0000Sep-09 28.1160 - 28.3370 0.7 860O ct-09 28.3370 - 28.4620 0.4411No v-09 28.4620 - 28.9679 1.7775Dec-09 28.9679 - 28.9170 -0.1757
Jan- 10 28.9170 - 29.0 5 67 0.48 31Feb- 10 29.0 5 67 - 29.0088 -0.1649Mar- 10 29.0088 - 29.206 5 0.6 81 5
AVERAGE RETU RN 0.6167 %
8/8/2019 Mutual Funds Training ICICI
44/72
8/8/2019 Mutual Funds Training ICICI
45/72
Escorts Tax Plan (Growth)Mo nth Net Assets Value M o nthly Return
Apr-09 25 .9839 - 27.290 5 5.02 85
May-09 27.290 5 - 37.1072 35.97 11
Jun-09 37.1072 - 38.6629 4.1924
Jul-09 38.6629 - 40.8944 5.77 17
Aug-09 40.8944 - 40.8944 0.0000
Sep-09 40.8944 - 42.8 5 70 4.7992
O ct-09 42.8 5 70 - 41.624 5 -2.8758
No v-09 41.624 5 - 44.1 55 6 6.0 808
Dec-09 44.1 55 6 - 4 5 .8891 3.9259
Jan- 10 45 .8891 - 44.3687 -3.3 132Feb- 10 44.3687 - 42.6067 -3.97 13
Mar- 10 42.6067 - 4 5 .3606 6.4635
AVERAGE RETU RN 5.1727 %
8/8/2019 Mutual Funds Training ICICI
46/72
8/8/2019 Mutual Funds Training ICICI
47/72
8/8/2019 Mutual Funds Training ICICI
48/72
Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany
ICICI Prudential Growth Plan-(Growth Option)
ICICI Prudential Income Plan- (Growth Option)
ICICI Prudential Tax Plan-(Growth Option)
ICICI Prudential Mutual Fund
8/8/2019 Mutual Funds Training ICICI
49/72
8/8/2019 Mutual Funds Training ICICI
50/72
8/8/2019 Mutual Funds Training ICICI
51/72
ICICI Prudential Income PlanMo nth Net Assets Value M o nthly Return
Apr-09 27.7341 - 29.4 5 77 6.2 14 7May-09 29.4 5 77 - 29.0718 -1.3100Jun-09 29.0718 - 29.4018 1.1351Jul-09 29.4018 - 29.2732 -0.4374
Aug-09 29.2732 - 29.2732 0.0000Sep-09 29.2732 - 29.3743 0.3 454O ct-09 29.3743 - 29. 5 396 0.5627
No v-09 29. 5 396 - 30.0600 1.76 17Dec-09 30.0600 - 29.8737 -0.6 198
Jan- 10 29.8737 - 29.995
0 0.4060Feb- 10 29.99 5 0 - 29.7610 -0.7 801Mar- 10 29.7610 - 29.9240 0.5 477
AVERAGE RETU RN 0.6522 %
8/8/2019 Mutual Funds Training ICICI
52/72
8/8/2019 Mutual Funds Training ICICI
53/72
ICICI Prudential Tax Plan
Mo nth Net Assets Value M o nthly ReturnApr-09 5 6.88 - 63.84 12.2363
May-09 63.84 - 8 5 .02 33. 1767Jun-09 85 .02 - 8 5 .95 1.0939
Jul-09 85 .95 - 100.63 17.0797Aug-09 100.63 - 100.63 0.0000Sep-09 100.63 - 107.97 7.29 40O ct-09 107.97 - 106.29 -1.5560
No v-09 106.29 - 113. 55 6.8304Dec-09 113. 55 - 121.69 7.1686
Jan- 10 121.69 - 118.88 -2.309 1Feb- 10 118.88 - 120.47 1.3375Mar- 10 120.47 - 127.34 5.7027
AVERAGE RETU RN 7.3379 %
8/8/2019 Mutual Funds Training ICICI
54/72
8/8/2019 Mutual Funds Training ICICI
55/72
Funds PerformanceParticular Average Return Sharpe Index Rati o Rank
ICICI Prudential Growth Plan-(Growth Option) 4.8724 % 0.1615 II
ICICI Prudential Income Plan- (Growth Option) 0.6522 % -1.488 III
ICICI Prudential Tax Plan-
(Growth Option)
7.3379 % 0.3804 I
0.00%
1.00%
2.00%
3.00%
4.00%
5 .00%
6.00%
7.00%
8.00%
ICICI PrudentialGrowth Plan-
(Growth)
ICICI PrudentialIncome Plan-
(Growth)
ICICI Prudential TaxPlan-(Growth)
Average Return
-2
-1.5
-1
-0.5
0
0.5
ICICI Prudential GrowthPlan-(Growth)
ICICI Prudential IncomePlan- (Growth)
ICICI Prudential TaxPlan-(Growth)
Sharpe Index Rati o
8/8/2019 Mutual Funds Training ICICI
56/72
Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany:
Reliance Equity Fund-Growth Plan
Reliance Income Fund-Retail Plan - Growth Plan
Reliance Tax Saver (ELSS) Fund-Growth Plan
Reliance Mutual Fund
8/8/2019 Mutual Funds Training ICICI
57/72
Reliance Equity Fund-Growth Plan
Mo nth Net Assets Value M o nthly ReturnApr-09 9.2882 - 10.0227 7.9079
May-09 10.0227 - 13.0391 30.0957Jun-09 13.0391 - 12.9842 -0.4210
Jul-09 12.9842 - 14.0367 8 .1060Aug-09 14.0367 - 14.0367 0.0000Sep-09 14.0367 - 14.9 55 3 6.5 44 3O ct-09 14.9 55 3 - 14.0006 -6.3 837
No v-09 14.0006- 14.720 5 5.141 9Dec-09 14.720 5 - 15 .1637 3.0 108Jan- 10 15 .1637 - 14. 5 187 -4 .2536Feb- 10 14. 5 187 - 14.4188 -0.6 881Mar- 10 14.4188 - 14.8268 2.8296
AVERAGE RETU RN 4 .32 41
8/8/2019 Mutual Funds Training ICICI
58/72
8/8/2019 Mutual Funds Training ICICI
59/72
Reliance Income Fund
Mo nth Net Assets Value M o nthly Return
Apr-09 29.0 5 75 - 30.4693 4 .8586
May-09 30.4693 - 29.9680 -1.6453
Jun-09 29.9680 - 30.0 5 25 0.2 820
Jul-09 30.0 5 25 - 29.9 5 10 -0.3377Aug-09 29.9 5 10 - 29.9 5 10 0.0000
Sep-09 29.9 5 10 - 30.0241 0.2 434
O ct-09 30.0241 - 30.2366 0.70 84
No v-09 30.2366 - 30.6048 1 .2177
Dec-09 30.6048 - 30. 5 788 -0.0 850
Jan- 10 30. 5 788 - 30.719 5 0.4601
Feb- 10 30.719 5 - 30.6491 -0.2292
Mar- 10 30.719 5 - 30.8 5 15 0.660 4
AVERAGE RETU RN 0.5111
8/8/2019 Mutual Funds Training ICICI
60/72
8/8/2019 Mutual Funds Training ICICI
61/72
Reliance Tax Saver (ELSS) FundMo nth Net Assets Value M o nthly Return
Apr-09 9.714 - 10.7404 10. 5 662May-09 10.7404 - 14.0 5 19 30.8322Jun-09 14.0 5 19 - 14.1409 0.6334Jul-09 14.1409 - 1 5 .45 60 9.3000
Aug-09 15 .45 60 - 1 5 .45 60 0.0000Sep-09 15 .45 60 - 16. 5 706 7.2114O ct-09 16. 5 706 - 1 5 .9138 -3.9636
No v-09 15 .9138 - 16.9834 6.7212Dec-09 16.9834 - 18.2047 7.1911Jan- 10 18.2047 - 17.6641 -2.9696
Feb- 10 17.6641 - 17.6091 -0.3 114Mar- 10 17.6091 - 18.7234 6.3280
AVERAGE RETU RN (in %age) 5.96 16
8/8/2019 Mutual Funds Training ICICI
62/72
8/8/2019 Mutual Funds Training ICICI
63/72
Funds PerformanceParticular Average Return Sharp Index Rati o Rank
Reliance Equity Fund-Growth Plan-
(Growth Option)
4.3241 % 0.0831 II
Reliance Income Fund-Retail Plan -
Growth Plan - Growth
0.5 111 % -1.9719 III
Reliance Tax Saver (ELSS) Fund-Growth
Plan- (Growth Option)
5 .9666 % 0.2613 I
0.00%
1.00%
2.00%
3.00%
4.00%5 .00%
6.00%
7.00%
Reliance EquityFund-Growth Plan-
(Growth Option)
Reliance IncomeFund-Retail Plan -
Growth Plan -Growth
Reliance Tax Saver(ELSS) Fund-Growth
Plan- (GrowthOption)
Average Return
-2.5
-2
-1.5
-1
-0.5
0
0.5
Reliance Equity Fund-Growth Plan-(Growth
Option)
Reliance Income Fund-Retail Plan - Growth
Plan - Growth
Reliance Tax Saver(ELSS) Fund-Growth
Plan- (Growth Option)
Sharpe Index Rati o
8/8/2019 Mutual Funds Training ICICI
64/72
Analysis of Equity Funds of 5 Companies
0
0.0 5
0.1
0.1 5
0.2
0.2 5
0.00%
1.00%
2.00%
3.00%
4.00%
5 .00%
6.00%
7.00%
8.00%
Sharpe s Index % Annual Return
8/8/2019 Mutual Funds Training ICICI
65/72
Analysis of Income Funds of 5 Companies
Sharpe s Index % Annual Return
-3.5
-3
-2.5
-2
-1.5
-1
-0.5
0
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
8/8/2019 Mutual Funds Training ICICI
66/72
Analysis of Tax Saver Plans of 5 Companies
Sharpe s Index % Annual Return
00.0 5
0.10.1 5
0.20.2 5
0.30.3 5
0.4
0.00%1.00%2.00%
3.00%4.00%5 .00%6.00%7.00%8.00%
8/8/2019 Mutual Funds Training ICICI
67/72
8/8/2019 Mutual Funds Training ICICI
68/72
1) Do you invest your saving in mutual fund ?
Yes68%
No
32%
8/8/2019 Mutual Funds Training ICICI
69/72
2) Do you have complete information about mutual fund?
Yes5 6%
No24%
Not Much20%
8/8/2019 Mutual Funds Training ICICI
70/72
8/8/2019 Mutual Funds Training ICICI
71/72
4) Do you know mutual fund is agood instrument of tax saving?
Yes76%
No24%
f f
8/8/2019 Mutual Funds Training ICICI
72/72
5 ) Among which of the followingincome group you fall?