Abhishek Project Report

Declaration
I hereby declare that the project report entitled Performance of Mutual Funds submitted
to Local Head Office, SBI Mutual Fund, Udaipur after the successful completion of project.
Internship is a bonafide record of research work carried out by me under the guidance of Mr.
Vishnu Kantiwal, ISD Head of SBI Mutual Fund, Udaipur. This project is entirely an
evidence of work avoiding any duplication whatsoever of previous researches except
references made and cited in the project for the successful understanding of the topic.
Date: -
Abhishek Singh Rathore
Place: -
(MBA-FSM III Sem.)
Acknowledgment
I am grateful to Mr. Vishnu Kantiwal ISD Head of SBI Mutual funds, Udaipur, and Prof.
Anil Kothari, coordinator MBA-(FSM) under whose guidance this project was completed.
Their guidance and constant encouragement helped me to complete the study.
I am thankful to Mr. Naveen Khandelwal, Operations Head of Mutual Fund, Udaipur and
other staff for their constant support and help in providing data.
My sincere and deepest thanks to Prof. Karunesh Saxena, Director and all other faculty
members of Faculty of Management Studies, for giving me such an opportunity and valuable
time for all the guidance given in executing the project as per requirements.
I am also thankful to all my friends for their valuable suggestions given to me in the
preparation of this project report for which I will be always indebted to them.
Abhishek Singh Rathore

(MBA-FSM III Sem.)
Executive Summary
The topic of this project is Performance of mutual funds in India which are issued in
between year of 2007-2008. The mutual fund industry in India has seen dramatic
improvements in quantity as well as quality of product and service offerings in recent years
and hence here focus is on comparing funds of different mutual fund companies on different
performance parameters. Along with this project also touches on the trends of mutual fund
industry and returns given by selected mutual funds.
In my 45 days training duration I studied about various types of funds issued by

AMCs and customer perception with regard to mutual funds that is the schemes they prefer,
the plans they are opting and the reasons behind such selections.
In project duration I also found that most of the people are hesitant in going for new
age investments like mutual funds and prefer to avert risks by investing in less riskier
investment options like recurring deposits and so. Also people going for investment in mutual
funds are not going for high-risk portfolios and schemes but want to go for medium risk
elements. And another finding is that most of the working women do not prefer this type of
investments.
Table of Contents
CHAPTER-1:INTRODUCTION
1.1 Introduction of SBI Mutual Fund.... 7
1.2 History of Mutual Fund10
1.3 Regulatory Framework.12
CHAPTER-2:THEORY OF MUTUAL FUNDS
2.1 Concept of Mutual Fund.... 15
2.2 Organization Structure of a Mutual Fund... 17
2.3 Types of Mutual fund schemes in India 19
2.4 Advantages of Mutual Fund... 22
2.5 Mutual Fund Industry Trend..... 23
2.6 Process to invest in Mutual fund.... 26
CHAPTER-3:RESEARCH METHODOLOGY
3.1 Research Methodology... 33
3.2 Research Design.. 34
3.3 Tools for Data analysis... 35
3.4 Scope of the study... 35
3.5 Limitations of the Study. 35
CHAPTER-4:DATA ANALYSIS & INTERPRETATION
4.1 Birla sun life Special Situation Fund.37
4.2 Birla sun life Commodities Equities Fund Global gain plan.. 38
4.3 BNP Paribas Bond Fund39
4.4 Edelweiss ELSS Fund.40
4.5 Edelweiss short term Income Fund...41
4.6 Franklin India Ultra Short Bond Fund42
4
4.7 Franklin Asian Equity Fund..43

4.8 HDFC Infrastructure Fund...44
4.9 UTI India Lifestyle Fund...45
4.10 UTI Transportation and Logistics Fund46
4.11 UTI CCP Advantage Fund..47
4.12 Kotak Emerging Equity Fund.....48
4.13 Kotak global Emerging Market Fund................................................49
4.14 Kotak Gold ETF Fund.....50
4.15 Kotak PSU Bank ETF......51
4.16 SBI Infrastructure Fund.52
4.17 DSP Black Rock Tax Saver Fund..53
4.18 BOI AXA Equity Fund....54
4.19 BOI AXA Short Term Income Fund..55
CHAPTER-5:5.1 Conclusion..... 57
BIBLIOGRAPHY.. 58
Chapter-1
Introduction:
1.1 - Introduction of SBI Mutual Fund
1.2 - History of Mutual Funds in India
1.3 - Regulatory Framework in India
1.1 - Introduction of SBI Mutual Fund

SBI Mutual Funds are an Indian-based mutual fund. In operation since 1987, the SBI
fund is one of Indias premier investment products. With a network of over 222 points of
acceptance throughout India, this fund has very good national coverage, and is well worth
considering as a potential investment vehicle.
1.1.1 - Corporate Profile

SBI Mutual funds Identity
With 25 years of rich experience in fund management, SBI Funds Management Pvt.
Ltd. bring forward its expertise by consistently delivering value to its investors .It has a
strong and proud lineage that traces back to the State Bank of India (SBI) - India's largest
bank. It is having a Joint Venture between SBI and AMUNDI (France), one of the world's
leading fund management companies.
With its network of over 222 points of acceptance across India, it delivers value and
nurture the trust of its vast and varied family of investors. Excellence has no substitute. And
to ensure excellence right from the first stage of product development to the post-investment
stage, they are ably guided by their philosophy of growth through innovation and their
stable investment policies. This dedication is what helps their customers achieve their
financial objectives.
SBI Mutual funds Vision

To be the most preferred and the largest fund house for all asset classes, with a
consistent track record of excellent returns and best standards in customer service, product
innovation, technology and HR practices.
SBI Mutual Funds Services

Mutual Funds
Investors are their priority. Their mission has been to establish Mutual Funds as a
viable investment option to the masses in the country. Working towards it, they developed
innovative, need-specific products and educated the investors about the added benefits of
investing in capital markets via Mutual Funds.
Today, it has been actively managing its investor's assets not only through its
investment expertise in domestic mutual funds, but also offshore funds and portfolio
management advisory services for institutional investors. This makes them one of the largest
investment management firms in India, managing investment mandates of over 5.4 million
investors.
Portfolio Management and Advisory Services

SBI Funds Management has emerged as one of the largest player in India advising
various financial institutions, pension funds, and local and international asset management
companies.
They have excelled by understanding their investor's requirements and terms of risk /
return
expectations,
based
on
which
they
suggest
customized
asset
portfolio
recommendations. They also provide an integrated end-to-end customized asset management

solution for institutions in terms of advisory service, discretionary and non-discretionary
portfolio management services.
Offshore Funds
SBI Funds Management has been successfully managing and advising India's
dedicated offshore funds since 1988. SBI Funds Management was the 1st bank sponsored
asset management company fund to launch an offshore fund called 'SBI Resurgent India
Opportunities Fund' with an objective to provide its investors with opportunities for longterm growth in capital, through well-researched investments in a diversified basket of stocks
of Indian Companies.
1.1.2 - Company Key Information
Setup date
Jun-29-1987
Incorporation date
Feb-07-1992
Sponsor
State Bank of India
Trustee
SBI Mutual Fund Trustee Company

Private Limited
Chairman
Mr. Pratip Chaudhri
CEO / MD
Mr. Deepak Kumar Chatterjee
CIO
Mr. Navneet Munot
Compliance Officer
Ms. Vinaya Datar
Investor Service Officer
Mr. C A Santosh
Assets Managed
Rs.47184.11 crore (Jun-30-2012)
Auditors
Haribhakti & Co /M/S. Chandabhoy

&Jassoobhoy
Custodians
Computer Age management Services Pvt. Ltd,

Computeronics Financial Services Ltd,
Datamatics Financial Software Services Ltd.
Corporate Office
SBI Funds Management Pvt Ltd.

A joint venture between SBI and
AMUNDI 191, maker Tower E,
Cuffe Parade,Mumbai - 400 005.
Toll Free No.
1800 425 5425
1.2- History of Mutual Funds in India

The mutual fund industry in India started in 1963 with the formation of Unit Trust of
India, at the initiative of the Government of India and Reserve Bank of India. The history of
mutual funds in India can be broadly divided into four distinct phases.
First Phase 1964-87

Unit Trust of India (UTI) was established on 1963 by an Act of Parliament. It was set up by
the Reserve Bank of India and functioned under the Regulatory and administrative control of
the Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial
Development Bank of India (IDBI) took over the regulatory and administrative control in
place of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end of 1988
UTI had Rs.6,700 Crores of assets under management.
Second Phase 1987-1993 (Entry of Public Sector Funds)

1987 marked the entry of non- UTI, public sector mutual funds set up by public sector banks
and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India
(GIC). SBI Mutual Fund was the first non- UTI Mutual Fund established in June 1987
followed by Canbank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89),
Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund
(Oct 92). LIC established its mutual fund in June 1989 while GIC had set up its mutual fund
in December 1990. At the end of 1993, the mutual fund industry had assets under
management of Rs.47, 004 Crores.
Third Phase 1993-2003 (Entry of Private Sector Funds)

With the entry of private sector funds in 1993, a new era started in the Indian mutual fund
industry, giving the Indian investors a wider choice of fund families. Also, 1993 was the year
in which the first Mutual Fund Regulations came into being, under which all mutual funds,
except UTI were to be registered and governed. The erstwhile Kothari Pioneer (now merged
with Franklin Templeton) was the first private sector mutual fund registered in July 1993.The
1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive and
revised Mutual Fund Regulations in 1996. The industry now functions under the SEBI
(Mutual Fund) Regulations 1996.
10
The number of mutual fund houses went on increasing, with many foreign mutual funds
setting up funds in India and also the industry has witnessed several mergers and acquisitions.
As at the end of January 2003, there were 33 mutual funds with total assets of Rs. 1, 21,805
Crores. The Unit Trust of India with Rs.44, 541 Crores of assets under management was way
ahead of other mutual funds.
Fourth Phase since February 2003

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was
bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust of
India with assets under management of Rs.29, 835 crores as at the end of January 2003,
representing broadly, the assets of US 64 scheme, assured return and certain other schemes.
The Specified Undertaking of Unit Trust of India, functioning under an administrator and
under the rules framed by Government of India and does not come under the purview of the
Mutual Fund Regulations.
The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is
registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation
of the erstwhile UTI which had in March 2000 more than Rs.76,000 Crores of assets under
management and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual
Fund.
The graph indicates the growth of assets over the years:
ASSETS UNDER MANAGEMENT IN '000

MILLION INR
AUM GROWTH
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
Mar/6 Mar/8 Mar/9 Mar/0 Mar/0 Mar/0 Mar/0 Mar/0 Mar/1 Mar/1 Mar/1 Mar/1
5
7
3
0
2
4
6
8
0
2
3
4
AUM
0
46
470 1130 1006 1396 2319 5052 6140 5872 7014 8252
Source: - AMFI (Association of Mutual Funds in India)

11
1.3 - Regulatory Framework in India

A- Securities and Exchange Board of India (SEBI)
The Government of India constituted Securities and Exchange Board of India, by an
Act of Parliament in 1992, the apex regulator of all entities that either raise funds in the
capital markets or invest in capital market securities such as shares and debentures listed on
stock exchanges.
Mutual funds have emerged as an important institutional investor in capital market

securities. Hence they come under the purview of SEBI. SEBI requires all mutual funds to be
registered with them. It issues guidelines for all mutual fund operations including where they
can invest, what investment limits and restrictions must be complied with, how they should
account for income and expenses, how they should make disclosures of information to the
investors and generally act in the interest of investor protection. To protect the interest of the
investors, SEBI formulates policies and regulates the mutual funds.
MF either promoted by public or by private sector entities including one promoted by

foreign entities are governed by these Regulations. SEBI approved Asset Management
Company (AMC) manages the funds by making investments in various types of securities.
Custodian, registered with SEBI, holds the securities of various schemes of the fund in its
custody. According to SEBI Regulations, two thirds of the directors of Trustee Company or
board of trustees must be independent.
B- Association of Mutual Funds in India (AMFI)

With the increase in mutual fund players in India, a need for mutual fund association
in India was generated to function as a non-profit organization. Association of Mutual Funds
in India (AMFI) was incorporated on 22nd August, 1995.
AMFI is an apex body of all Asset Management Companies (AMC) which has been
registered with SEBI. Till date all the AMCs are that have launched mutual fund schemes are
its member. It functions under the supervision and guidelines of its Board of Directors.
12
Association of mutual fund industry has brought down the mutual fund industry to a
professional and healthy market with ethical line enhancing and maintaining standards. It
follows the principle of both protecting and promoting the interests of mutual funds as well
as their unit holders.
The objectives of Association of Mutual Funds in India

The Association of Mutual Funds of India works with 30 registered AMCs of the
country. It has certain defined objectives which juxtaposes the guidelines of its Board of
Directors. The objectives are as follows:
This mutual fund association of India maintains high professional and ethical
standards in all areas of operation of the industry.
It also recommends and promotes the top class business practices and code of conduct
which is followed by members and related people engaged in the activities of mutual
fund and asset management. The agencies who are by any means connected or
involved in the field of capital markets and financial services also involved in this
code of conduct of the association.
AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual
fund industry.
Associations of Mutual Fund of India do represent the Government of India, the

Reserve Bank of India and other related bodies on matters relating to the Mutual Fund
Industry.
It develops a team of well qualified and trained Agent distributors. It implements a

program of training and certification for all intermediaries and other engaged in the
mutual fund industry.
AMFI undertakes all India awareness program for investors in order to promote
proper understanding of the concept and working of mutual funds.
At last but not the least association of mutual fund of India also disseminate
information on Mutual Fund Industry and undertakes studies and research either
directly or in association with other bodies.
13
Chapter-2
Theoretical Framework:
2.1 - Concept of Mutual Funds
2.2 - Organization Structure of a Mutual Fund
2.3 - Types of Mutual Fund Schemes in India
2.4 - Advantage of Mutual Fund
2.5 - Mutual Fund Industry Trend
2.6 - Invest in Mutual Funds
14
2.1 - Concept of Mutual Funds

Mutual funds are institutions that collect money from several sources - individuals or
institutions by issuing 'units', invest them on their behalf with predetermined investment
objectives and manage the same all for a fee. They invest the money across a range of
financial instruments falling into two broad categories equity and debt. Individual people
and institutions no doubt, can and do invest in equity and debt instruments by themselves but
this requires time and skill on both of which there are constraints.
Mutual funds emerged as professional financial intermediaries bridging the time and
skill constraint. They have a team of skilled people who identify the right stocks and debt
instruments and construct a portfolio that promises to deliver the best possible 'constrained'
returns at the minimum possible cost. In effect, it involves outsourcing the management of
money. More explicitly, the benefits of investing in equities and debt instruments are
supposedly much better if done through mutual funds.
This is because of the following reasons: Firstly, fund managers are more skilled.
They are trained to identify the best investment options and to assess the portfolio on a
continual basis. Secondly, they are able to invest in a diversified portfolio consisting of 15-20
different stocks or bonds or a combination of them. For an individual such diversification
reduces the risk but can demand a lot of effort and cost. Each purchase or sale invites a cost
in terms of brokerage or transactional charges such as demat account fees in India. The need
to possibly sell 'poor' stocks/bonds and buy 'good' stocks/bonds demands constant tracking of
news and performance of each company they have invested in.
Mutual funds are able to maintain and track a diversified portfolio on a constant basis
with lesser costs. This is because of the pecuniary economies that they enjoy when it comes
to trading and other transaction costs. Thirdly, funds also provide good liquidity. An investor
can sell her/his mutual fund investments and receive payment on the same day with minimal
transaction costs as compared to dealing with individual securities, this totals to superior
portfolio returns with minimal cost and better liquidity.
15
In India one can gain additional benefit by investing through mutual funds tax
savings. Investment in certain types of funds such as Equity Linked Tax Savings Schemes
(ELSS) allows for certain amount of income tax benefits.
This can be represented with the following flow chart:
Source: - AMFI (Association of Mutual Funds in India)
16
2.2 -Organization Structure of a Mutual Fund

There are many entities involved and the diagram below illustrates the
organizational set up of a mutual fund :-
The important terms of the figure are explained as follows:
Fund Sponsor:
A sponsor is any person who, acting alone or in combination with another body
corporate, establishes a MF. The sponsor of a fund is similar to the promoter of a company.
In accordance with SEBI Regulations, the sponsor forms a trust and appoints a Board of
Trustees, and also generally appoints an AMC as fund manager. In addition, the sponsor also
appoints a custodian to hold the fund assets. The sponsor must contribute at least 40% of the
net worth of the AMC and possess a sound financial track record over five years prior to
registration.
Trustees:
The MF or trust can either be managed by the Board of Trustees, which is a body of
individuals, or by a Trust Company, which is a corporate body. Most of the funds in India are
managed by Board of Trustees. The trustee being the primary guardian of the unit holders
funds and assets has to be a person of high repute and integrity. The trustees, however, do not
directly manage the portfolio securities. The portfolio is managed by the AMC as per the
defined objectives, accordance with Trust Deed and SEBI (Mutual Funds) Regulations.
17
Asset Management Company (AMC):
The AMC, which is appointed by the sponsor or the trustees and approved by SEBI,
acts like the investment manager of the trust. The AMC functions under the supervision of its
own Board of Directors, and also under the direction of the trustees and SEBI. AMC, in the
name of the trust, floats and manages the different investment schemes as per the SEBI
Regulations and as per the Investment Management Agreement signed with the Trustees.
Others:
Apart from these, the Mutual Fund has some other fund constituents, such as
custodians and depositories, banks, transfer agents and distributors.
The custodian is appointed for safe keeping of securities and participating in the
clearing system through approved depository. The bankers handle the financial dealings of
the fund. Transfer agents are responsible for issue and redemption of units of Mutual Fund.
18
2.3 Types of Mutual Fund Schemes in India

A mutual fund, say, SBI Mutual Fund, can have several 'funds' [called 'schemes' in
India) under its management. These different funds can be categorized by structure,
investment objective and others. It would be well illustrated by the following flow chart:
Source: - Association of Mutual Funds in India (AMFI)
19
An 'Open ended' fund is available for purchase or redemption on continuous basis at the
day's closing Net Asset Value (NAV). This gives liquidity to investments.
A 'Close ended' fund is open for investment only during the Initial Public Offer (IPO) after
which the investment is locked in until the maturity date which could be between 3-7yrs. The
investor can, however, sell or buy the shares of the funds on the stock exchange where the
shares are listed.
Interval funds combine the characteristics of both 'open end' and close end funds. They
can be bought or redeemed by the investor at predetermined times, say once in six or twelve
months.
'Growth' oriented funds aim at providing capital appreciation. They tend to invest primarily
in equities.
'Income' funds aim at providing regular income to investors. They generally invest a major
portion of their assets in fixed income earning instruments such as government securities,
corporate bonds and money market instruments. Their returns are determined by fluctuations
in interest rates.
'Balanced fund' tries to provide both capital appreciation and regular income. They invest in
both equities and fixed income securities. They specify the maximum equity exposure in the
prospectus and is normally 60 percent; of late other types of balanced funds such as "Asset
Allocation funds and 'Arbitrage funds' have also emerged. Asset allocation funds, such as the
Franklin Templeton (FT) PIE ratio funds, allocate funds to equity or debt depending on the
dynamic situation. They tend to increase exposure to equity during a market downturn and
move out during market peaks. The FT PIE ratio fund uses the market PIE ratio to determine
the degree of equity exposure.
Arbitrage funds are funds that try to capitalize on the arbitrage opportunities that arise out
of pricing mismatch of stocks in the equity and derivative (futures and options) segments of
the stock market (Value Research Inc.). They invest predominantly in equities 'Money
Marker. Funds invest only in short term debt such as call money, treasury bills and
commercial paper. In the case of these funds the Net Asset Value is simply the interest
20
accrued on these investments on a daily basis. Their NAV does not fall below the initial
investment value, unlike bond funds which are marked to market.
Tax saving funds give an investor tax benefits under section 80 C of the Income Tax Act.
Such funds also termed as Equity Linked Saving Schemes (ELSS), have a lock in period of
three years. By investing in such funds a person can avail of a maximum of rupees one
hundred thousand in tax deductions. ELSSs are normally diversified equity funds.
Index funds invest in securities of a particular index such as the Bombay Stock Exchange
(BSE) sensex in the same proposition. They provide returns which are close to that of the
benchmark index with similar risks as well. It is a passive investment approach with lower
costs.
Sector specific funds focus their investments on specific sectors which the fund manager
feels would do well. For instance, Franklin FMCG fund invests only in shares of companies
that produce fast moving consumer goods.
Exchange Traded Fund's (ETF) are relatively a new concept in India. Such funds are
essentially index funds that are listed and traded on the stock markets. There are also
commodities ETFs such as Reliance hold ETF.
21
2.4 - Advantage of Mutual Fund

Diversification - It can help an investor diversify their portfolio with a minimum investment.
Spreading investments across a range of securities can help to reduce risk. A stock mutual
fund, for example, invests in many stocks. This minimizes the risk attributed to a
concentrated position. If a few securities in the mutual fund lose value or become worthless,
the loss may be offset by other securities that appreciate in value. Further diversification can
be achieved by investing in multiple funds which invest in different sectors.
Professional Management - Mutual funds are managed and supervised by investment

professional. These managers decide what securities the fund will buy and sell. This
eliminates the investor of the difficult task of trying to time the market.
Well regulated - Mutual funds are subject to many government regulations that protect
investors from fraud.
Liquidity - It's easy to get money out of a mutual fund.
Convenience - We can buy mutual fund shares by mail, phone, or over the Internet.
Low cost - Mutual fund expenses are often no more than 1.5 percent of our investment.
Expenses for Index Funds are less than that, because index funds are not actively managed.
Instead, they automatically buy stock in companies that are listed on a specific index
Transparency - Mutual fund offer document provides all the information about the fund and
the scheme. This document is also called as the prospectus or the fund offer document, and is
very detailed and contains most of the relevant information that an investor would need.
Choice of schemes - There are different schemes which an investor can choose from
according to his investment goals and risk appetite.
Tax benefits - An investor can get a tax benefit in schemes like ELSS (equity linked saving
scheme)
22
2.5 - Mutual Fund Industry Trend

Growth of Mutual Fund Industry
The mutual fund industry in India started in 1963 with the formation of Unit Trust of
India, at the initiative of the Government of India and Reserve Bank. Unit Trust of India
(UTI) was established on 1963 by an Act of Parliament. It was set up by the Reserve Bank
of India and functioned under the Regulatory and administrative control of the Reserve
Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial Development
Bank of India (IDBI) took over the regulatory and administrative control place of RBI. The
first scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had Rs.6,
700 crores of assets under management.
The year 1987 marked the entry of non- UTI, public sector mutual funds set up by
public sector banks and Life Insurance Corporation of India (LIC) and General Insurance
Corporation of India (GIC). SBI Mutual Fund was the first non- UTI Mutual Fund
established in June 1987 followed by Canbank Mutual Fund (Dec 87), Punjab National
Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90),
Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June 1989 while
GIC had set up its mutual fund in December 1990.At the end of 1993, the mutual fund
industry had assets under management of Rs.47,004 crores. With the entry of private sector
funds in 1993, a new era started in the Indian mutual fund industry, giving the Indian
investors a wider choice of fund families. Also, 1993 was the year in which the first Mutual
Fund Regulations came into being, under which all mutual funds, except UTI were to be
registered and governed. The erstwhile Kothari Pioneer (now merged with Franklin
Templeton) was the first private sector mutual fund registered in July 1993.
The 1993 SEBI (Mutual Fund) Regulations were substituted by a more

comprehensive and revised Mutual Fund Regulations in 1996. The industry now functions
under the SEBI (Mutual Fund) Regulations 1996. The number of mutual fund houses went
on increasing, with many foreign mutual funds setting up funds in India and also the
industry has witnessed several mergers and acquisitions. As at the end of January 2003,
there were 33 mutual funds with total assets of Rs. 1, 21,805 crores. The Unit Trust of India
with Rs.44, 541 crores of assets under management was way ahead of other mutual funds.
23
Indian mutual fund industry has grown at a Compounded Annual Growth Rate
(CAGR) of 15 per cent from FY07 to FY13, the growth performance in the recent years
have been rather subdued. However, Assets under Management (AUM) as a per cent of
GDP for India is about 5 to 6 per cent, significantly lower than some other emerging
economies, for example, 40 percent for Brazil and around 33 per cent for South Africa.
This indicates significant headroom for growth. However, the industry growth will
continue to be characterized by external factors such as volatility and performance of the
capital markets, and macro-economic drivers such as GDP growth, inflation and interest
rates.
The Indian mutual fund industry has shown relatively slow growth in the period FY
10-13 growing at a CAGR of approximately 3.2 per cent. Average (AUM) stood at INR
8,140 billion as of September 2013. However, AUM increased to INR 8,800 billion as of
December 2013. Lackluster stock market performance, rising inflation and anticipation of a
rise in interest rates has led to a tapering of growth in the Indian mutual fund industry in the
recent years.
In comparison to global markets, Indias AUM penetration as a per cent of GDP is

between 5-6 per cent while it is around 77 per cent for the U.S., 40 per cent for Brazil and
31 per cent for South Africa. Despite the relatively low penetration of mutual funds in
India, the market is highly concentrated. Though, there are44 AMCs operating in the sector,
approximately 80 per cent of the AUM is concentrated with 8 of the leading players in the
market. There have been recent instances of consolidation in the market and market
concentration is expected to remain in the near-term.
24
Trends in Mutual Fund Industry

A. Number of Schemes under Mutual Funds
Year
Debt
Income Balanced
ETFs
Overseas
Total
2010-11
679
376
32
28
16
1131
2011-12
872
352
30
35
20
1309
2012-13
857
347
32
37
21
1294
2013-14
1178
363
30
40
27
1638
No. of Scheme of MFs

1800
1600
1638
1400
1309
1200
1000
1294
1131
800
600
400
200
0
2010-11
2011-12
2012-13
2013-14
Source: SEBI
The total number of schemes under MFs has increased during the period 2010-14 and it
increased very steeply between 2012-13 to 2013-14. The growth rate of number of schemes
in debt is greater than income, balanced, ETFs and overseas.
25
B. Allocation of assets in India by company wise.

ICICI
Reliance
Birla Sun
UTI
SBI
Franklin
IDFC
Kotak
DSP block
TATA
Dautsche
AXIS
L&T
Sundram
Religare
118,056
112,914
98,556
79,441
69,213
50,987
43,694
35,521
33,113
23,022
20,878
20,268
19,894
17,673
16,142
JPMorgan
LIC NOMURA
HSBC
Baroda
JM Financial
IDBI
Canara
Goldman Sachs
PRINCIPAL
Taurus
BNP Paribas
Union KBC
Peerless
BOI AXA
Pramerica
14,544
9,489
8,275
8,176
6,957
6,742
6,482
6,179
4,848
4,083
3,661
3,531
3,509
2,378
1,909
Indiabulls
Mirae Asset
Motilal Oswal
Pinebridge
ING
PPFAS
Quantum
Escorts
Edelweiss
IIFL
Shriram
Sahara
1,424
937
758
636
557
443
414
264
212
210
26
2
Total -
986,054
AuM in india by company wise allocation of may, 2014
IDBI
1%
BNP
Paribas
Goldman
0%
Sachs
1%
JM
PRINCIPAL
Financial
0%
Taurus
1%
0%
LIC NOMURA
Canara
1%
Religare
1%
2%
JPMorgan
Baroda
1%
AXIS L&T
1%
2% 2%
Sundram HSBC
2%
1%
Dautsche
2%
TATA
2%
DSP block
Peerless
0%
Pinebridge
0%
BOI AXA
0%
Pramerica
Indiabulls
0%
0%
Union
KBC
0%
Sahara
0%
Mirae Asset
0%
PPFAS
0%
Shriram
0%
0%
ICICI
12%
Reliance
11%
IDFC
4%
Franklin
5%
ING
0%
Quantum
0%
Motilal Oswal
HDFC
13%
3%
Kotak
4%
Edelweiss
Escorts
0%
IIFL
0%
0%
UTI
8%
Birla Sun
10%
SBI
7%
26
C. Assets under Management Diversification for 2013-2014 by Investment

Options.
Assets under management diversification for 2013-2014 year
Income
infra debt
equity
balanced
liquid
gilt
equity-elss
gold-etf
other etf
1%
1% 0%
1%
3%
16%
2%
56%
20%
0%
27
FoF
2.6 - Invest in Mutual Funds

How to Invest in Mutual Funds?
An investor is investing his money in mutual fund by follow the following steps:
Step One - Identify Investors investment needs

Your financial goals will vary, based on your age, lifestyle, financial independence,
family commitments, level of income and expenses among many other factors. Therefore, the
first step is to assess your needs. Begin by asking yourself these questions:
1. Investment objectives and needs
Probable Answers: I need regular income or need to buy a home or finance a wedding or
educate my children or a combination of all these needs.
2. Calculation of risk
Probable Answers: I can only take a minimum amount of risk or I am willing to accept the
fact that my investment value may fluctuate or that there may be a short term loss in order to
achieve a long term potential gain.
3. Cash flow for Mutual Fund
Probable Answers: I need a regular cash flow or I need a lump sum amount to meet a specific
need after a certain period or I dont require a current cash flow but I want to build my assets
for the future. By going through such an exercise, you will know what you want out of your
investment and can set the foundation for a sound Mutual Fund Investment strategy.
Step Two - Choose the right Mutual Fund

Once you have a clear strategy in mind, you now have to choose which Mutual Fund
and scheme you want to invest in. The offer document of the scheme tells you its objectives
and provides supplementary details like the track record of other schemes managed by the
same Fund Manager. Some factors to evaluate before choosing a particular Mutual Fund are:
28
The track record of performance over the last few years in relation to the appropriate
yardstick and similar funds in the same category.
How well the Mutual Fund is organized to provide efficient, prompt and personalized
service.
Degree of transparency as reflected in frequency and quality of their communications.
Step Three - Select the ideal mix of Schemes

Investing in just one Mutual Fund scheme may not meet all your investment needs. You may
consider investing in a combination of schemes to achieve your specific goals.
The following charts could prove useful in selecting a combination of schemes that satisfy
your needs.
29
Step Four - Invest regularly

For most of us, the approach that works best is to invest a fixed amount at specific intervals,
say every month. By investing a fixed sum each month, you get fewer units when the price is
high and more units when the price is low, thus bringing down your average cost per unit.
This is called rupee cost averaging and is a disciplined investment strategy followed by
investors all over the world. With many open-ended schemes offering systematic investment
plans, this regular investing habit is made easy for you.
30
Step Five - Keep investors taxes in mind

As per the current tax laws, Dividend/Income Distribution made by mutual funds is exempt
from Income Tax in the hands of investor. However, in case of debt schemes
Dividend/Income Distribution is subject to Dividend Distribution Tax. Further, there are
other benefits available for investment in Mutual Funds under the provisions of the prevailing
tax laws. You may therefore consult your tax advisor or Chartered Accountant for specific
advice to achieve maximum tax efficiency by investing in mutual funds.
Step Six - Start early

It is desirable to start investing early and stick to a regular investment plan. If you start now,
you will make more than if you wait and invest later. The power of compounding lets you
earn income on income and your money multiplies at a compounded rate of return.
Step Seven - The final step

All you need to do now is to get in touch with a Mutual Fund or your advisor and start
investing. Reap the rewards in the years to come. Mutual Funds are suitable for every kind of
investor whether starting a career or retiring, conservative or risk taking, growth oriented or
income seeking.
31
Chapter- 3
Methodology
3.1 Research Methodology
3.2 Research Design
3.3 Tools for Data analysis
3.4 Scope of the study
3.5 Limitations of the Study
32
3.1 Research Methodology

Research is the process of systematic and in-depth study or search for any particular
topic, subject or area of investigation, backed by data collection. Complication, presentation
and interpretation of relevant details or data. It is a careful search or inquiry into any subject
matter, which is an endeavour to discover or find out valuable facts that would be useful for
further application or utilization.
Research methodology is the systematic problem analysis, model building and fact
finding for the purpose of improved decision making. It is the collection summary and
analysis of data regarding goods and services it helps in deciding the nature and tend demand.
Research may involve a scientific study or experimentation and result in discovery or
invention, which would aid either scientific development or decision making.
Title of Research
PERFORMANCE OF MUTUAL FUNDS
Objectives of Research
a) To know the value of mutual funds in India and their major aspects.
b) To know the various fund offered by the mutual funds in India.
c) To identify the level of risk involved in investing in various equity diversified

mutual fund schemes.
d) To know various regulatory firm of mutual funds in India.
e) To know the organizational structure of a mutual funds.
f) To know the best mutual funds investment plan like Systematic investment plan.
g) To know the steps of how to invest in mutual fund by investor
33
3.2 Research Design

The research design refers to the overall strategy that you choose to integrate the
different components of the study in a coherent and logical way, thereby, ensuring you will
effectively address the research problem; it constitutes the blueprint for the collection,
measurement, and analysis of data.
A method and system a statical analysis based on past history to facilitate the
investment process. Respective fund using a principal factor such as cumulative growth and
stability. For tracking investment, upper and lower control limits are defined according to
standard deviation of average total return over predetermine period of time to improve
chances of the investors achieving a profit as well as a near optimum performance. This
research methodology helps us to give information about the opportunities of mutual funds
investment. It will help to study the market of mutual funds better. All mutual fund
companies and their return on investment.
Sample Size
19 Mutual Funds of different companies.
Sampling Method
Random Sampling
Method of data collection
There are many methods of data collection which can be used according to nature and
type of research. I will use following data for the research purpose. My research only based
on secondary data.
Secondary data
Articles
Factsheet
Management generals
Annual report
34
Research papers
Internet
Companies product voucher
News papers
3.3 Tools and techniques for data Analysis

1. Return on investment
a. Point-to-point or absolute return:
b. Total return:
c. Compound Annual Growth Rate (CAGR):
2. Graph
3. Chart
3.4 Scope of the Study

a. Scope of the study is to understand the various mutual fund product and services
offered by AMCs to the individual customers and to find out the returns given by
funds and the customer expectations
b. The study was done by taking 10 to 15 mutual fund companies and their products.
c. In this project data has been taken from 2007 to 2008.
3.5 Limitations of the study

a. Time constraints: - Due to shortage or less availability of time it may be possible
that all the related and concerned aspect may not be covered in the project.
b. Analysis done is limited to the availability of data.
35
Chapter- 4
Data Analysis and Interpretation
4.1 Birla sun life Special Situation Fund
4.2 Birla sun life Commodities Equities Fund Global gain plan
4.3 BNP Paribas Bond Fund
4.4 Edelweiss ELSS Fund
4.5 Edelweiss short term Income Fund
4.6 Franklin India Ultra Short Bond Fund
4.7 Franklin Asian Equity Fund
4.8 HDFC Infrastructure Fund
4.9 UTI India Lifestyle Fund
4.10 UTI Transportation and Logistics Fund
4.11 UTI CCP Advantage Fund
4.12 Kotak Emerging Equity Fund
4.13 Kotak global Emerging Market Fund
4.14 Kotak Gold ETF Fund
4.15 Kotak PSU Bank ETF
4.16 SBI Infrastructure Fund
4.17 DSP Black Rock Tax Saver Fund
4.18 BOI AXA Equity Fund
4.19 BOI AXA Short Term Income Fund
36
Data Analysis & Interpretation

4.1 Birla Sun Life Special Situation Fund
Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Jan 01, 2008
Benchmark
S&P BSE 200
Asset Size (Rs cr)
133.85 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A
Bonus
N.A.
Fund Manager
Anil Shah
Notes
N.A
Load Details
Entry Load
N.A
Exit Load
1.00%
Exit Load of 1% if redeemed within 365 Days from the date of

allotment.
Quarterly Average AUM: 146.30 Crores (as on 30st June 2014)
Load Comments
Interpretation: 1. From inception this fund has given 52.2% return

2. From the last one year this fund has given 65% return.
37
4.2 Birla Sun Life Commodities Equities Fund Global Gain Plan
Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Sep 9, 2008
Benchmark
N.A
Asset Size (Rs cr)
13.57 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Vineet Maloo
Notes
Birla Sun Life Commodity Equities Fund - Global Precious Metals

Plan and irla Sun Life Commodity Equities Fund-Global Multi
Commodity Plan has been merged with Birla Sun Life Commodity
Equities Fund-Global Agri Plan w.e.f. July 19, 2013
Load Details
Entry Load
N.A
Exit Load
1.00%
Exit Load of 1% if redeemed within 365 Days from the date of

allotment.
Quarterly Average AUM: 13.77 Crores (as on 30th June 2014)
Load Comments
Interpretation: 1. From inception this fund has given 50% return

2. From the last one year this fund has given 10.6% return.
38
4.3 BNP Paribas Bond Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Sept 29, 2008
Benchmark
CRISIL Composite Bond Fund
Asset Size (Rs cr)
195 Crores (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Puneet Pal
Notes
Fortis Mutual Fund have been acquired by BNP Paribas Asset

Management, Accordingly, all existing schemes of Fortis Mutual
Fund has been renamed with BNP Paribas with effect from October
19, 2010.
Load Details
Entry Load
N.A
Exit Load
1.00%
Exit load 1% if redeemed / switched out upto 1 year from the date of
subscription.
Load Comments

39
4.4 Edelweiss ELSS Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Dec 26, 2008
Benchmark
CNX 500
Asset Size (Rs cr)
32.96 (Jun-30-2014)
Minimum Investment
Rs.500
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Paul Parampreet / Dhilip Krishna
Notes
N.A
Load Details
Entry Load
N.A
Exit Load
0.00%
N.A.
Load Comments
Interpretation: 1. From inception this fund has given 213% return

2. From the last one year this fund has given 42% return.
40
4.5 Edelweiss Short Term Income Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Sep 23, 2008
Benchmark
CRISIL Short Term Bond Fund
Asset Size (Rs cr)
8.71 (Jun-30-2014)
Minimum Investment
Rs.10000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Bhavesh D. Jain
Notes
Open for Fresh Investments.
Load Details
Entry Load
N.A
Exit Load
0.50%
Load Comments
Exit load of 0.50% if the units are redeemed / switched-out within 2

months from the date of allotment.

41
4.6 Franklin India Ultra Short Bond Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Dec 18, 2007
Benchmark
CRISIL Liquid Fund
Asset Size (Rs cr)
3,213.26 (Jun-30-2014)
Minimum Investment
Rs.10000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Sachin Desai / Pallab Roy
Notes
Open for Subscription
Load Details
Entry Load
N.A
Exit Load
0.00%
N.A.
Load Comments

42
4.7 Franklin Asian Equity Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Nov 19, 2007
Benchmark
N.A
Asset Size (Rs cr)
150.7 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Roshi Jain / Murali Yerram
Notes
N.A
Load Details
Entry Load
N.A
Exit Load
1.00%
Exit Load 1% if units are redeemed / switched-out within 1 year from

the date of allotment.
Load Comments

43
4.8 HDFC Infrastructure Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Jan 08, 2008
Benchmark
CNX 500
Asset Size (Rs cr)
918.01 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Fund Manager
Prashant Jain / Srinivas Rao Ravuri
Load Details
Entry Load
N.A
Exit Load
1.00%
Load Comments


44
4.9 UTI India Lifestyle Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Jul 30, 2007
Benchmark
CNX 500
Asset Size (Rs cr)
303.56 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Lalit Nambiar
Notes
UTI India Lifestyle Fund a close ended equity scheme has been
converted into open ended equity oriented scheme with effect from
July 16, 2010.
Load Details
Entry Load
N.A
Exit Load
1.00%

45
4.10 UTI Transportation and Logistics Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Apr 11, 2008
Benchmark
N.A
Asset Size (Rs cr)
89.66 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Anoop Bhaskar / Daylynn Pinto
Load Details
Entry Load
N.A
Exit Load
1.00%
Load Comments
Exit Load 1% if redeemed within 1 Year from the date of allotment.
Interpretation: 1. From inception this fund has given 29.73 % return

2. From the last one year this fund has given 144.85 % return
46
4.11 UTI CCP Advantage Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Jan 30, 2008
Benchmark
CRISIL Balance Fund
Asset Size (Rs cr)
96.63 (Jun-30-2014)
Minimum Investment
Rs.1000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Kaushik Basu.
Notes
Earlier call UTI Childrens Career Bond Plan
Load Details
Entry Load
N.A
Exit Load
4.00%
Load Comments
Exit Load of 4% if exited < 1 years, 3% if exited >=1 years & < 3
years, 1% if exited >=3 years & < 5 years.
Quarterly Average AUM: 90 Crores (as on 30th June 2014)

47
4.12 Kotak Emerging Equity Scheme

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Feb 12, 2007
Benchmark
S&P BSE MIDCAP
Asset Size (Rs cr)
69.33 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Pankaj Tibrewal
Load Details
Entry Load
N.A
Exit Load
1.00%
Load Comments
Exit Load of 1% if redeemed within 2 year from the date of allotment.

48
4.13 Kotak Global Emerging Market Fund

Scheme Details
Fund Type
Close-Ended
Investment Plan
Growth
Launch date
Sept 26, 2007
Benchmark
N.A
Asset Size (Rs cr)
59.33 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Deepak Gupta / Abhishek Bisen
Load Details
Entry Load
N.A
Exit Load
1.00%
Load Comments
Exit Load of 1% if redeemed within 1 year from the date of allotment.

2. From the last one year this fund has given 6.49 % return.
49
4.14 Kotak Gold ETF Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Dividend
Launch date
Jun 20, 2007
Benchmark
Price of Gold
Asset Size (Rs cr)
857.53 (Jun-30-2014)
Minimum Investment
Rs.10000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Abhishek Bisen
Load Details
Entry Load
N.A
Exit Load
0.00%

2. From the last one year this fund has given -12.61% returns.
50
4.15 Kotak PSU Bank ETF

Scheme Details
Fund Type
Open-Ended
Investment Plan
Dividend
Launch date
Nov 08, 2007
Benchmark
CNX PSU Bank
Asset Size (Rs cr)
14.90 (Jun-30-2014)
Minimum Investment
Rs.10000
Last Dividend
Rs.20.00 (Feb-25-2013)
Bonus
N.A.
Fund Manager
Deepak Gupta
Load Details
Entry Load
N.A
Exit Load
0.00%

51
4.16 SBI Infrastructure Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
May 11, 2007
Benchmark
CNX Infra
Asset Size (Rs cr)
531.61 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Ajit Dange
Load Details
Entry Load
N.A
Exit Load
1.00%
Load Comments


52
4.17 DSP Black Rock Tax Saver Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Jan 18, 2007
Benchmark
CNX 500
Asset Size (Rs cr)
808.27 (Jun-30-2014)
Minimum Investment
Rs.500
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Apoorva Shah
Notes
N.A
Load Details
Entry Load
N.A
Exit Load
0.00%
Load Comments
N.A.

53
4.18 BOI AXA Equity Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Sept 04, 2008
Benchmark
CNX NIFTY
Asset Size (Rs cr)
50.12 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Saurabh Kataria
Notes
Bank of India have acquired 51% stake in the joint venture from
Bharti Ventures and AXA Investment Managers Asia Holdings
w.e.f. May 23, 2012. Hence the name of the schemes will be pre
fixed with BOI AXA in place of Bhati AXA.
Load Details
Entry Load
N.A
Exit Load
1.00%

2. From the last one year this fund has given 44.53% return
54
4.19 BOI AXA Short Term Income Fund

Scheme Details
Fund Type
Open-Ended
Investment Plan
Growth
Launch date
Dec 03, 2008
Benchmark
CRISIL Short Term Bond Fund
Asset Size (Rs cr)
23.21 (Jun-30-2014)
Minimum Investment
Rs.5000
Last Dividend
N.A.
Bonus
N.A.
Fund Manager
Alok Singh
Load Details
Entry Load
N.A
Exit Load
0.50%
Load Comments
Exit load 0.5% if redeemed within 45 days from the date of allotment.

55
Chapter- 4
Conclusion
56
4.1 Conclusion
During the six years of study period, the Indian Mutual Fund Industry (IMFI) had
shown a good progress in terms of number of private sector Indian mutual funds, number of
schemes launched, funds mobilized and assets under management. There had been a good
number of schemes been launched particularly in close-end type with income objective. And
also I found so many facts and figures as follows:1. Investors agreed that, investing in mutual funds were less risky compared to shares.
2. At present, the Indian Mutual Fund Industry is one among the top 15 nations in terms of
AUM and is expected to grow to $500-600 billion by 2015
3. The industry continues to be dominated by the top players as 54% of the total AUM is
held by the top 5 fund houses.
4. Even though the mutual funds are growing steadily, only 5% of the households are
investing in mutual funds, hence there is a long way to go.
5. Top 5 best performing funds which are issued in between year of 2007-2008 on last
year performance.
Funds name
Last year returns in %
UTI Transportation and Logistics Fund
144.85
HDFC Infrastructure Fund
99.86
Kotak Emerging Equity Scheme
97.24
BIRLA SUN LIFE special situation Fund

SBI Infrastructure Fund
65
61.4
6. Top 5 best performing funds which are issued in between year of 2007-2008 on
performance from since inception.
Returns since inception in
%
213
Funds name
Edelweiss ELSS fund
Birla Sun Life Special Situation Fund
52.2
Birla sun life commodities equities fund global gain plan

UTI Transportation and Logistics Fund
50
29.73
Kotak Emerging Equity Scheme
17.98
57
Bibliography
Research papers
A. Prof Gauri Prabhu, Dr N.M. Vechalekar Perception of Indian Investor towards
investment in mutual funds with special reference to MIP Funds, IOSR Journal of
Economics and Finance (IOSR-JEF) e-ISSN: 2321-5933, p-ISSN: 2321-5925 PP 6674
B. Dr. Binod Kumar Singh, A study on investors attitude towards mutual funds as an
investment option, ISSN 2249-5908 Issue2, Vol. 2 (March-2012)
C. Sarish, A Study of Opportunities and Challenges for Mutual Fund in India : Vision
2020, VSRD-IJBMR, Vol. 2 (4), 2012, 167-178
Websites
1. www.moneycontrol.com
2. www.economictimes.indiatimes.com
3. www.profit.ndtv.com
4. www.valueresearchonline.com
5. www.amfiindia.com
6. www.sebi.gov.in
58

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Declaration

Abhishek Singh Rathore

(MBA-FSM III Sem.)

Abhishek Singh Rathore

In my 45 days training duration I studied about various types of funds issued by

4.7 Franklin Asian Equity Fund..43

1.1 - Introduction of SBI Mutual Fund

1.1.1 - Corporate Profile

SBI Mutual funds Vision

SBI Mutual Funds Services

Portfolio Management and Advisory Services

recommendations. They also provide an integrated end-to-end customized asset management

1.1.2 - Company Key Information

State Bank of India

SBI Mutual Fund Trustee Company

Mr. Pratip Chaudhri

Mr. Deepak Kumar Chatterjee

Mr. Navneet Munot

Ms. Vinaya Datar

Investor Service Officer

Rs.47184.11 crore (Jun-30-2012)

Haribhakti & Co /M/S. Chandabhoy

Computer Age management Services Pvt. Ltd,

SBI Funds Management Pvt Ltd.

Toll Free No.

1800 425 5425

1.2- History of Mutual Funds in India

First Phase 1964-87

Second Phase 1987-1993 (Entry of Public Sector Funds)

Third Phase 1993-2003 (Entry of Private Sector Funds)

Fourth Phase since February 2003

ASSETS UNDER MANAGEMENT IN '000

Source: - AMFI (Association of Mutual Funds in India)

1.3 - Regulatory Framework in India

Mutual funds have emerged as an important institutional investor in capital market

MF either promoted by public or by private sector entities including one promoted by

B- Association of Mutual Funds in India (AMFI)

The objectives of Association of Mutual Funds in India

Associations of Mutual Fund of India do represent the Government of India, the

It develops a team of well qualified and trained Agent distributors. It implements a

2.1 - Concept of Mutual Funds

This can be represented with the following flow chart:

Source: - AMFI (Association of Mutual Funds in India)

2.2 -Organization Structure of a Mutual Fund

The important terms of the figure are explained as follows:

Asset Management Company (AMC):

2.3 Types of Mutual Fund Schemes in India

Source: - Association of Mutual Funds in India (AMFI)

2.4 - Advantage of Mutual Fund

Professional Management - Mutual funds are managed and supervised by investment

Liquidity - It's easy to get money out of a mutual fund.

2.5 - Mutual Fund Industry Trend

The 1993 SEBI (Mutual Fund) Regulations were substituted by a more

In comparison to global markets, Indias AUM penetration as a per cent of GDP is

Trends in Mutual Fund Industry

No. of Scheme of MFs

B. Allocation of assets in India by company wise.

AuM in india by company wise allocation of may, 2014

C. Assets under Management Diversification for 2013-2014 by Investment

2.6 - Invest in Mutual Funds

Step One - Identify Investors investment needs

1. Investment objectives and needs

3. Cash flow for Mutual Fund

Step Two - Choose the right Mutual Fund