A PROJECT REPORT

ON

“COMPARATIVE ANALYSIS OF MUTUAL FUNDS IN INDIA”

A project Report submitted in partial fulfillment of MBA from

SIKKIM MANIPAL UNIVERSITY

Under the guidance of :

Mr. Ajay Yengal

Sales Manager

Aditya Birla Money Ltd., Pune

Submitted By- VIKAS KUMAR PATEL

(Marketing + Finance)

Contact Details:-

Contact No.: +91-9096918798

EMAIL: vikaspatel.pibm@gmail.com

PUNE INSTITUTE OF BUSINESS MANAGEMENT

Session: 2010-2012

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DECLARATION

I am VIKAS KUMAR PATEL, student of PUNE INSTITUTE OF BUSINESS MANAGEMENT, bearing Roll No. DM10MF24, hereby declare that the project

documented, entitled “COMPARATIVE ANALYSIS OF MUTUAL FUNDS IN INDIA” by me is a bonafide work prepared in partial fulfillment for award of MBA during the period 11/05/2011 to 12/07/2011 in ADITYA BIRLA MONEY LIMITED, PUNE.

SIGNATURE:

(VIKAS KUMAR PATEL)

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CERTIFICATE FROM COMPANY

`

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CERTIFICATE FROM COLLEGE

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ACKNOWLEDGEMENT

My Summer Training with ADITYA BIRLA MONEY MART (ABMM) would not have been possible and learning experience would not have been the same without the guidance and care of certain people.

I take the opportunity of expression of sincere gratitude to Mr. Ajay Yengal (Sales Manager, ABMM) under whose able and competent guidance I learnt facts as they are in the real Corporate World. I would also like to express my gratitude to Mr. Suyog Aprajit (Area Sales Manager) who has guided me to understand the corporate world.

My special thanks to our Director Mr. Raman Preet honorary Deputy Director Ms. Preeti Bhatia and very grateful to my internal guide and mentor Prof. Ajit Sane our esteem members of faculty who have modeled us to complete this critical project. I am also indebted to all the clients for their co-operation rendered even as my course of investigation.

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TABLE OF CONTENTS:

Sr.No. Topics Page no.s

1. Objectives And Scope Of The Project. 7

2. Background Introduction / Synopsis Of The Project.

a) Company profile,b) Basic introduction of the project,c) Organizational hierarchy,d) Department.

08-29

3. Research Methodology.

a) Methods & Tools adopted for analysis,b) Data collection,c) Techniques for analysis,d) Pictorial / Graphic / pie charts,

presentation of data.

30-48

4. Observations / Findings. 49

5. Limitations. 50

6. Suggestions / Recommendations. 51

7. Conclusion. 52

8. Bibliography. 53

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CHAPTER-01

OBJECTIVES AND SCOPE OF THE PROJECT:

Objective of study:

To analyze the market potential of ADITYA BIRLA SUN LIFE INSURANCE (BSLI) across the different sector’s in pune and pan India, this includes:

To create awareness about BSLI products and services. To solve their queries about insurance plans. To spread awareness about mutual funds investment plans.

To find out response.

To know about the Mutual fund.

To Study the various schemes offered by BSLI mutual fund.

To study in which scheme the investor invests the most. 

To study what are the factors affecting Mutual fund choice of Investor.

To maintain customers relationship management.

Scope of study:

The internship was done under the ADITYA BIRLA MONEY LIMITED India in Pune. In India only 8% people are insured as of now. So there is a big scope and opportunity for making career in this field. Our scope of work is very broad as there is 92% population is still not insured.

In mutual funds, as we know that most of the people don’t know about systematic investment plan which is far better than one stroke investment in mutual funds and give higher returns.

• To tap the future market.• To know about the future competition by understanding their unit wise sales.• To know about the sales potential.• To find out the expectations of the consumers about the products.• To study the factors affecting on BSLI mutual fund services.• To retain the existing user and to convert the new prospects into buyers.

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CHAPTER – 02

Background Introduction / Synopsis

Of The Project

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a) Company profile:

The origin of the aditya birla group:

By the Birla Group reference is made to one of the foremost business houses in India headed by the Birla family for generations. Its business interests are vast and varied ranging from petrochemicals and textiles to automobiles and Infocom as well as financial services.

The story of the Birla Group goes back to 1870 when Seth Shiv Narayan Birla, belonging to the Marwari community of West Rajasthan, set up a cotton and jute trading business in Pilani, Rajasthan. In the 19th century Baldeo Das Birla, son of Shiva Narayana Birla, moved to Calcutta. At that time Calcutta was the hub of activity of the British Empire and consequently the nascent Freedom Movement. The Birlas are proud of their closeness and support to the movement and was very near to Mahatma Gandhi. Even today, about two hundred years after the beginning of the Birla story, the name is identical with not only with wealth and power but also with dignity and respect. Business runs in their veins and each generation has been a credit to the legendary name of Birla.

In 1919 the Ghanashyam Das Birla, one of the four sons of Baldeo Das Birla, set up jute mills in West Bengal and thus laid the foundation for the beginning of the Birla industrial empire. In 1947 the Birlas set up Grasim weaving plant and from 1958 added rayon to the list.

Aditya Birla, grandson of Ghanashyam Das Birla, continued successfully with the legacy he had inherited. In 1969 he began to take giant strides outside India targeting international expansion. In Thailand the Birlas set up Indo-Thai synthetics. It was followed in 1978 by Carbon Black production also in Thailand. In 1988 Indo-Gulf was formed under the name of Hindalco for production fertilizers. Unfortunately in 1995 Aditya Birla died.

The son of Aditya Birla, Kumar Mangalam Birla, picked up the Birla flag. As part of the first step towards streamlining and restructuring AT &T was formed. In 1998 Indo-Gulf copper production started. In the same year Birla entered Canada with the purchase of Atholville Pulp Mill in New Brunswick. In 1999 Birla forayed into the financial arena and entered into a joint venture with Canada’s Sun Life. The beginning of the new century saw Birla AT&T merge with Tata Communications. Hindalco acquired Indal. In 2002 Indo Gulf fertilizers started and Anapurna Foils was acquired. In 2003 Nifty copper and Mt. Gordon copper mines in Australia are acquired by Birla. Liaonig Birla was started as the beginning of a joint venture with China in the field of carbon black. Indal merged with Hindalco the following year. A new aluminum venture was started in Orissa in 2005. In the same year St. Anne Nackawic Pulp Mill is acquired in Canada. Plans are now afoot to set up a new viscose stable fiber plant in Laos.

The Birla group has aptly laid out its objectives to be a premium international conglomerate with a clear focus on each and every business unit.  Birla’s mission is to

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deliver the very best to its customers, shareholders and employees bearing in mind its commitment to the welfare of society at large. Birla values are all about integrity, commitment, zeal, seamlessness and speed.

Kumar Mangalam Birla, born in 1967, the chairman of the Aditya Birla Group, is bearing the Birla torch with credit. Fortune magazine has listed him as the eighth youngest billionaire outside India. He is running major companies such as Grasim, Hindalco, UltraTech Cement, Aditya Biral Nuvo and Idea Cellular.  JV’s include Birla Sun Life (financial services) and Birla NGK (Insulators). He is the Chairman of the entire blue chip companies group in India and serves as director on the board of the group’s international companies stretching across Thailand, Indonesia, Malaysia, Philippines and Egypt. The wide circle includes Canada, China, Laos, USA, UK and Australia. Kumar Mangalam Birla is also on the board of G.D. Biral Medical research and education Foundation and member of the Board of the governors of BITS, Pilani. He is a member of London Business School’s Asia Pacific Advisory Board, which counsels on strategy and curriculum. He is honorary fellow of London Business School. The media has not been left behind in heaping him with accolades. Both NDTV and Hindustan Times have voted him as the Businessman of the Year.

Aditya Birla Management Corporation is worth $8 billion and operates in more than fifteen countries. It is one of the first of India’s truly multinational corporations. A vast force of 88,000 employees belonging to twenty different nations holds this $12 billion conglomerate together. More than 23% of its revenues come in from operations outside India. Apart from India, the manufacturing units are in countries like Malaysia, Laos, Indonesia, Philippines, Egypt, Australia, China, USA, UK, Germany and Hungary. The listed products are viscose stable fibre, non-ferrous metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, sponge iron, insulators, financial services, telecom. BPO and IT services. The global position of Birla is worth noting. Birla is first in production of viscose stable fiber, third in insulators, fourth in carbon black, eleventh in cement and fourth in aluminum.  It claims to be the largest single location of custom copper smelting, and has the most energy efficient fertilized plant amongst fifteen to world’s top BPO companies. In this field India ranks among the top three.

Business runs through the blood and genes of the Birlas. The family has divided into many branches and of them another prominent name is that of M.P. Birla and his group of companies known as the M.P. Birla Group. M.P. Birla, the son of R.D. Birla, was another grandson of Baldeo Das Birla. This Birla group has over five hundred factories covering a wide range of industries – textiles, man-mad fibers, cables, woolens, automobiles, industrial and textile machines, sugar, paper, shipping, cement, jute, aluminum, copper, fertilizers, chemicals, power plants etc. the M.P. Birla Group carries on forty joint ventures and management contracts with Nigeria, Kenya, England, Philippines, Indonesia, Thailand, Uganda, Ethiopia, The names of the M.P. Birla group of companies are Birla corporation Ltd, Universal Cables Ltd, Vindhya Telelinks Ltd, Birla Ericsson Optical Ltd and Optic Fibre Goa Ltd. These have headquarters in Calcutta, Satna, Rewa Salcete, Bhiwani and Mumbai.Despite unavoidable doses of litigation and friction the Birla name continues to shine doing credit to India.

About Aditya Birla Money:

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Aditya Birla Money is a single brand offering the combined products and services of Aditya Birla Money Limited (formerly Apollo Sindhoori Capital Investments Limited) and Aditya Birla Money Mart Limited (formerly Birla Sun Life Distribution Company Limited).

Aditya Birla Money Limited is a broking and distribution player, offering Equity and Derivative trading through NSE and BSE and Currency derivative on MCX-SX. It is registered as Depository Participant with both NSDL and CDSL and provides commodity trading on MCX and NCDEX through its subsidiary company.

Aditya Birla Money will also provide a range of other products from Aditya Birla Money Mart Limited like company deposits, mutual funds, insurance, structured products, alternate investments and has a premier wealth management service arm to cater to HNI customers.

These offerings are delivered through a strong pan India distribution network of over 1148 own and sub broker branches, a robust online and offline model with a strong technology backbone to a large customer base, in excess of 4 lacs.

About Aditya Birla Financial Services Group:

The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz life insurance, asset management, NBFC, private equity, broking, general insurance advisory services and wealth management & distribution.

The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with about 5.5 million customers manages assets worth USD 20 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1600 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of over USD 1.25 billion (in 2009-2010) ABFSG is a significant non bank player.

ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a USD 3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 26 countries across the globe.

Time Line: History

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1857:

The foundation of the Birla Group of Companies laid by Seth Shiv Narayan Birla – cotton trading operations commenced at Pilani, Rajasthan.

1919:

Ghanshyamdas Birla, grandson of Shiv Narayan Birla, sets up the first Birla jute mill, marking his entry into the manufacturing sector. Rapid business expansion followed.

1947:: Grasim is incorporated. It commences operations with a small rayon

weaving unit at Gwalior, MP.

1958::

Hindalco is incorporated.

1962:: Hindalco commences production at its aluminium complex at Renukoot,

UP.

1965:: Mr. Aditya Birla, grandson of the legendary Ghanshyamdas Birla, starts

the Eastern Spinning Mills & Industries.

1966:: The Indian Rayon Corporation Ltd is acquired.

1967:: Hindalco sets up a captive power plant at Renusagar – a significant

strategic move.

1969:: Mr. Aditya Birla sets up Indo Thai Synthetics Company Ltd, the Group's

first overseas company.

1973:: P.T. Elegant Textiles established to manufacture spun yarn. It marked the

Group's first venture in Indonesia.

1974:: Thai Rayon, the Group's Viscose Rayon Staple Fibre business incorporated

in Thailand.

1975:: The Indo Phil Group of companies, the first Indo-Filipino joint venture

commences production of spun yarn.

197 : Pan Century Edible Oils incorporated in Malaysia. It went on to

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7 become the world's largest single-location palm oil refinery.

1978:: Thai Carbon Black, the Group's first carbon black company incorporated in

Thailand.

1982:: P.T Indo Bharat Rayon established. It was the first producer of Viscose

Staple Fibre in Indonesia.

1984:: Thai Polyphosphates and Chemicals commences production of sodium

phosphates in Thailand.

1985:: India's first gas-based fertiliser plant in the private sector – Indo

Gulf – goes on stream at Jagdishpur, UP.

1986:: The Birla Growth Fund set up to finance industrial equipment, plants and

machinery, and consumer durables, as well as for stock market operations.

1987:: Indian Rayon is renamed Indian Rayon and Industries Limited (IRIL), to

reflect its wide horizon of activities.

:: Thai Acrylic Fibre is incorporated to produce fibre and tow.

1988:: The government liberalises the petroleum industry. The Aditya Birla Group

enters into a joint venture with Hindustan Petroleum Corporation Ltd to set up a three-million-tonne refinery, Mangalore Refineries and Petrochemicals Ltd (MRPL), at Mangalore, Karnataka.

1989:: Thai Peroxide commences manufacturing of hygrogen peroxide solutions

in Thailand.

1990:: Mr. Kumar Mangalam Birla gets actively involved in the Group's

operations.

1991:: Pan Century Oleochemicals commences production of fatty acids and

glycerine in Malaysia.

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1992:: Thai Epoxy and Allied Products commences production of epoxy resins in

Thailand.

1994:: The Birla Growth Fund is renamed Birla Global Finance Limited, as its

span of operations expands.

:: Alexandria Carbon Black, the Group's first joint venture with the Egyptian government, is established.

1995:: The Group enters the telecommunications sector through a joint venture with

AT&T (USA).

1996:: To honour the memory of the late Aditya Birla, a new corporate logo – Aditya,

the rising sun – is launched.

:: All Group companies are consolidated under the umbrella of the Aditya Birla Group, led by Mr Kumar Mangalam Birla.

:: P.T. Indo Liberty Textiles is incorporated to manufacture yarn in Indonesia.

1998:: The Group forms a 50:50 joint venture company with Tembec Inc. of Canada,

called A.V. Cell Inc., to supply pulp for the Group's VSF operations.

:: Grasim acquires Dharani Cement and Shree Digvijay Cement to consolidate the Group's leadership position in cement.

:: The cement businesses of Indian Rayon and Grasim are consolidated into a single division of Grasim – the biggest restructuring ever by any corporate entity in India.

:: The Group forays into copper with the commissioning of Indo Gulf's copper smelter – the largest of its kind in India.

:: Thai Organic Chemicals begins commercial operations of chlor-alkali and epichlorohydrin.

1999:: A joint venture with financial services major Sun Life of Canada is inked, as part

of the overall restructuring of the Group's financial services business.

2000:: Indian Rayon acquires Madura Garments and selected overseas brand rights,

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taking the Group to the top of the league in the branded apparels sector.

:: The Group forays into e-business through a strategic alliance of its software arm, Birla Software and Consultancy Services (BCSS), with Lawson Software (USA).

2001:: Grasim acquires 2.50 crore shares – representing just over 10 per cent of the

equity – in L&T from Reliance Industries Ltd.

:: Birla Consultancy & Software Services spun off; becomes a separate entity called Birla Technologies Ltd.

:: Indian Rayon acquires a stake in PSI Data Systems, in one of the largest cash transactions in the Indian technology sector.

:: Grasim closes its pulp plant at Mavoor as a part of its restructuring initiatives.

2002:: The Grasim board approves an open offer for purchase of up to 20 per cent of the

equity of L&T, in accordance with the provisions and guidelines issued by the Securities & Exchange Board of India Regulations, 1997.

:: Grasim increases stake in L&T to 14.15 per cent (351.84 lakh shares).

:: Landmark corporate restructuring of Hindalco and Indo Gulf. The fertiliser business of Indo Gulf to be demerged into a separate company called Indo Gulf Fertilisers. Indo Gulf's copper business to be merged with Hindalco, creating a non-ferrous metals powerhouse.

The Group receives The Economic Times' "Corporate Citizen" of the year award.

2003:: Mr. Kumar Mangalam Birla, Chairman of the Group, selected as Business India's

Businessman of the Year - 2003.

:: Mr. Kumar Mangalam Birla selected as The Economic Times' Business Leader of the year.

:: The Group is ranked 16th in India's first ever survey of 'Great places to work in', published in Business World magazine. The Group's joint venture concern, Birla Sun Life Insurance, is ranked 9th in the same study.

2004:: Board reconstituted with Mr. Kumar Mangalam Birla taking over as Chairman.

:: Completion of the implementation process to demerge the cement business of L&T and completion of open offer by Grasim, with the latter acquiring controlling stake in the newly formed company UltraTech.

:: Grasim, Nagda, receives the FICCI Annual Award 2003-2004 in recognition of corporate initiaitve in rural development.

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2005:: Indian Rayon re-christened as Aditya Birla Nuvo.

:: Aditya Birla Group to set up a world-class aluminium project in Orissa.

:: The Aditya Birla Group signs a framework agreement to acquire St Anne Nackawic Pulp Mill, Canada.

2006:: Hindalco enters into a joint venture with Almex USA Inc.

:: TransWorks Information Services announces success of bid to acquire Minacs Worldwide.

:: Grasim Industries Limited, India; Thai Rayon Public Company Limited, Thailand; and P.T. Indo Bharat Rayon, Indonesia, form a JV with Hubei Jing Wei Chemical Fibre Company, China, for VSF.

:: Hindalco awarded the Greentech Safety Silver Award for its outstanding safety performance during 2005-06.

2007:: The Aditya Birla Group honoured with the India Today Group's Readers Digest

Gold award in recognition of the work that truly exemplifies the highest values of society as well as those of Reader's Digest. The award was received by Mrs. Rajashree Birla, Chairperson, Aditya Birla Center for Community Initiatives and Rural Development, at the Pegasus Corporate Social Responsibility Awards 2007 function.

:: Hindalco awarded the CII - Sorabji Green Business Centre "National Award for Excellence in Water Management 2007".

2008:: The President of India, Mrs. Pratibha Patil confers the much coveted Rotary

International Polio Eradication Champion Award on Mrs. Rajashree Birla in an elegant function at the Rashtrapati Bhavan (Delhi), attended by the Chairman, select Rotarians and WHO officials.

2009:: Grasim's pulp and fibre division wins the highly prestigious Asian CSR Award.

The Asian CSR Awards, Asia's Premier CSR Awards program, is a project of the Asian Institute of Management, Manila.

- Birla Sun Life Mutual Fund named "The Asset Management Company of the Year, India", by the Hong Kong based magazine, The Asset, in the country awards category of their "Triple A Investment Performance Awards 2009".

- The Birla Sun Life Equity-Linked FMP wins the "Best Local Currency Structured Product-India" at the Triple A Investment Performance Awards 2009.

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- Birla Sun Life Mutual Fund named the best "Onshore Fund House — India" by Hong Kong based magazine, The Asian Investor, at the Investment Performance Awards 2009.

2010:: Indian Rayon, Veraval (a division of Aditya Birla Nuvo) is awarded The Rajiv

Gandhi Environment Award for Clean Technologies by The Ministry of Environment and Forests, Government of India.

:: Hindalco ranked ninth across industries on Forbes Asia's Fab 50 companies list of Asia's 50 most valued companies.

2011:: Mrs. Rajashree Birla was presented the All India Management Association

(AIMA) Managing India Award 2011 for 'Corporate Citizen of the Year'. The award was presented by Mr. P. Chidambaram, India’s Union Minister for Home Affairs.

:: The Government of India has bestowed the Padma Bhushan Award on Mrs. Rajashree Birla for her exemplary contribution in the area of ‘Social Work’.The Padma Bhushan is among the highest civilian awards in India and was conferred on Mrs Birla at a special ceremony on 01 April 2011.

(b) Basic introduction of the project:

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The project entitled “comparative analysis of mutual funds in India” is based on various plans of mutual funds provided by BSLI (birla sun life insurance company limited) compared to other companies same products and finding that which is better and why BSLI products are unique

Introduction Of Mutual Fund - An Over View:

Mutual fund now represents perhaps the most appropriate investment opportunity for most small investors. A mutual fund uses the money collected from investors to buy those assets which are specifically permitted by its stated investment objective.In INDIA mutual fund is constituted as a ‘Trust’ and the investor the subscribes ‘Units’ issued by the fund, hence the term unit trust comes into the picture.Mutual fund, form of a Management investment company that combines the money of its shareholder and invests those funds in a wide variety of stocks, bonds, and so-called money market instruments. The latter include short term investment such as United States Treasury bills and other federal securities, commercial paper, and bank certificate of deposits. Mutual funds provide the investor with professional management of funds and diversification of investment among the securities offered by leading corporations, federal and state governments, and other entities.

What Is Mutual Fund?In a mutual fund, many investors contribute to form a common pool of money. This pool of money is invested in accordance with a stated invested objective. The Ownership of the fund is thus joint or “mutual”; the fund belongs to all investors. A single investor’s Ownership of the fund is in the same proportion as the amount of the Contribution made by him bears to the total amount of the fund.When a person buys “shares” of a joint stock company, the purchase makes the investors a part owner of the company and its assets. In the same way, when an investor subscribes to a mutual fund, he becomes part owner of fund assets. In fact, in U.S.A., a mutual is constituted as an investment company and an investor “buy into the fund”, meaning he buys the share of the fund. In India, a mutual a mutual fund is constituted as a Trust and the investor subscribes to the “units” of a scheme launched by the fund, which is where the term Unit Trust comes from. However, whether the investor gets fund shares or units is only a matter of legal distinction . In any case, a mutual fund shareholder or units-holder is a part owner of the fund’s assets. The term unit-holder includes investors in both the open-end and the closed-.end schemes.

Advantages of Mutual Fund:

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If mutual fund is emerging as the favorite investment vehicle, it is because of many Advantages it has over the forms and avenues of investing, particularly for the investor who has limited resources available in terms of capital and ability to carry carry out detailed research and market monitoring. The following are major advantages offered by mutual funds to all investors.

Portfolio Diversification

: Mutual Funds normally invest in a well-diversified portfolio of securities. Each investor in a mutual fund is a part owner of all of the fund’s assets. This enables him to hold a diversified investment portfolio even with a small amount of investment , which would otherwise require big capital.

Professional Management :

Even if an investor has a big amount of capital available to him, he benefits from the professional management skills brought in by the fund in the management of investor’s portfolio.

Reduction/Diversification Of Risk :

An investor in a mutual fund acquires. A diversified portfolio, no matter how small his investment. Diversification reduces the risk of loss, as compared to investing directly in one or two shares or debentures or other instru-ments.

Reduction of Transaction Costs:

What is true of risk is also true of the transaction costs. A direct investor bears all the costs of investing such as brokerage or custody of securities.

Liquidity :

Often, investors hold shares or bonds they cannot directly, easily and quickly Sell. Investment in a mutual fund, on the other hand, is more liquid.Convenience and flexibility : Mutual fund management companies offer many investor cannot get .

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Mutual fund concept is diagrammatically shown as:

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BSLI-Mutual Fund-Corporate profile 

Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla Group's experience in the Indian market and Sun Life's global experience.

Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer a range of investment options, including diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds.

Birla Sun Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in. BSLAMC strives to provide transparent, ethical and research-based investments and wealth management services.

LITRATURE SURVEY:

MUTUAL FUND:A mutual fund is the option available to both big and small investors, to pick the best benefit from the investment market. Mutual fund provides returns, liquidity, safety and tax benefit. Tax benefit is available to the investor who can earn capital gains on mutual fund investment.

THE HISTORY OF MUTUAL FUNDS IN INDIA:The mutual fund industry in India began with the setting up of the Unit Trust in India (UTI) in 1964 by the government of India. During the last 36 years, UTI has grown to be a dominant player in industry with asset of over Rs. 45,899 crores as of December 31, 2002. The UTI is governed by a special legislation, the Unit Trust of India Act, 1963. In 1987 public sector banks and insurance companies were permitted to set up mutual funds and accordingly since 1987, 6 public sector banks have set up mutual funds. Also the two insurance companies LIC and GIC established mutual funds. Securities exchange board of India (SEBI) formulated the mutual fund (regulation) 1993, which for the first time established a comprehensive regulatory framework for mutual fund industry. Since then several mutual funds have been set up by the private and joint sectors.

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1987 marked the entry of other public sector mutual funds. With the opening up of theEconomy, many public sector banks and financial institutions were allowed to establish mutual funds. SBI established the first non-UTI mutual fund-SBI Mutual fund-in November 1987. This was followed by Canbank Mutual fund, LIC Mutual fund, Indian Bank mutual Fund, and PNB Mutual Fund. These funds helped in enlarging the investor community and the investible funds.

Organization of mutual fund industry:

The organization of mutual fund operation in India envisages a six tier establishment namely:1. A sponsor institution to promote the fund.2. A term of trusties to oversee the operations and to proved checks for efficient, Profitable and transparent. 3. An Asset Management company (AMC) to actually deal with the fund.4. A custodian (care taker).5. A transfer agent.6. A trusty company

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Organization structure in diagrammatically shown as:

 

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Unit Holders

Sponsor

Trustees AMC

The Mutual Fund Transfer Agent

Custodian

SEBI

Sponsor: The companies, which set up the mutual funds, are called the sponsor. The SEBI has

laid certain criteria to be met by the sponsor. These criteria mainly deal with adequate

experience, net worth, good past track record, etc. 

Trustees:Trustees are the people with experience and full integrity in their fields. They carry

out the crucial responsibility of safeguarding the interest of the investor. They keep an

eye on the operation of different schemes. They have powers and they even dismiss

the asset management company with the approval of SEBI.

Asset management companies :

The Asset Management Companies manage the fund of various schemes. The AMC’s

professionals make investment carry out research. The success of any mutual fund

depends upon the efficiency of AMC. The AMC submit a quarterly report on the

functioning of the mutual fund to the trustee who guide and control AMC.

Custodian:Custodian (caretaker) is the appointed by the board of trusty for safe keeping of

securities or participating in any clearing system through approved depository

companies on behalf of mutual fund and must fulfill its responsibility in accordance

with its agreement with mutual fund. The custodian should be an entity independent

of the sponsors and its requires to be registered with SEBI.

Transfer agent :The organization, that handle sales and redemption of the fund shares, maintains

shareholder records, computes the funds Net Asset Value (NAV) of each day and

pays dividend and capital gain distribution.

Trustee company :The sponsors appoint the trustee company to supervise dealing of the AMC. The

trusty are responsible for complains of legal aspect by the AMC.

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Growth of mutual funds:

The Indian mutual fund has passed three phases. The first phase was between 1964

and 1967 and the only player was unit trust of India, which had a total asset of Rs.

6700 crores at the end of 1988. The second phase is between 1987 and 1993 during

which period 8 funds were established (6 by bank and one each by LIC and GIC). The

total asset under management has grown to Rs. 61028 crores at the end of 1994 and

the number of schemes was 167.

The third phase began with the entry of private and foreign sector in mutual fund

industry in 1993. Kothari pioneer mutual fund was the first fund to be established by

the private sector in association with a foreign fund. Today it is renamed as Franklin

Templeton mutual fund. 

As at the end of financial year 2000 (31st march) 32 funds were functioning with Rs.

1132005 crores as total asset under management. As on August end 2000, there were

33 funds with 391 scheme and assets under management with Rs. 102849 crores. 

The securities and exchange board of India came out with comprehensive regulation

in 1993, which defines the structure of mutual fund and asset management companies

for the first time. Several private sectors mutual funds were launched in 1993 and

1994. the share of private players has risen rapidly since then.

Types of mutual fund scheme:

• Open ended scheme:

These schemes have no specific closing date. They are open for investment and exit in

any time.

• Close ended scheme:

These schemes are open for a specific period of time. The scheme windup by

repairing the money collected along with gain, if any, to the investor.

• Money Market funds:

These schemes invest in the securities like treasury bills; commercial paper issued by

companies, certificates of deposit issued by bank and in money market (inters market)

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• Balance fund:

These schemes invent both in equity and depth in a variable ratio, which is generally

40 % in equity and 60 % in dept or vice versa. The objective of this scheme is to

provide some amount of appreciation from investment in equity and at the same time

income from investment in debt.

• Debt income fund:

This scheme invests in debt instruments issued by the government, banks, financial

institution and companies. The objective is to earn a well- mannered and Gilt fund

regular income.

In this scheme investment is done in government securities, having maturity nearly in

one year. 

• Index fund:This scheme invests in companies, a which are list in stock market index, in same

proportion, as they constitute in the index.

• Sector fund:These schemes invest in to a specific sector of market such as FMCG sector, IT

sector, PHARMA sector and COMMODITY sector.

• Children scheme:

This schemes objective is for saving for children. These schemes invest both in debt

and in equity.

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Transaction handling :

This service department had to over see the transaction on behalf of the distribution

team. Transaction on a mutual fund account can be broadly classified as under:

Type of transaction DetailPurchase Fresh or additional by of mutual fund units.

Redemption Part of full sales of mutual fund units. 

Switch in Transfer from one scheme to the other scheme of the same fund. Each

transfer has a corresponding in and out transactions leg.

Dividend pay out Dividend paid by dividend warrant to the customer. No impact on

the number of units held by the customer.

Dividend reinvestment Dividend plough back to the transactions as an additional

increase in the number of units. The customer does no investment in this case and

hence the net invested amount remains unchanged by the holding of the customer

increase.

Bonus Additional units ploughed back to the customers holding as an increase in the

number of units without any investment by the customer. Hence the net invested

amount remains unchanged.

Systematic investment plan Automated invested by the debit to customer account. SIP

typically has a frequency of investment and the number of such installments.

Systematic withdrawal plan Investor can withdraw a specified number of units or

amount at pre-determined frequency. The withdrawal is affected on a specific day

every month/quarter, etc. and is treated as redemption. 

Systematic transfer plan Transfer of specific number of units / amount to a different

scheme / plan.

27

(C) Organizational hierarchy:

Aditya Birla Money Limited

28

Chairman

Managing Director

Zonal Head

Regional Head

Area Sales Manager

Sr. Sales Manager

Sales Manager

UM/SUM/SMT/SE/SO

Group CEO

CEO

Deputy CEO

National Head

(D) DEPARTMENTS:

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ADITYA BIRLA MONEY LIMITED

RETAIL

DIRECT

CHANNEL

WEALTHINSTITUTI

ONALTERMINAL

S

CHAPTER – 03

RESEARCH METHODOLOGY

30

1.) RESEARCH METHODOLOGY

Research referred to a search for knowledge, it can also be defined research as a

scientific systematic search for pertinent information on a specific topic, in fact

research is an art of scientific investigation, Redman and moray defined research as a

systematized effort to gain new knowledge some people consider research as a

movement, A movement from the known to unknown.

Research is an academic activity and as such the term should be used in a technical

sense. According to Clifford Woody research comprises defining and redefining

problems, formulating hypothesis or suggested solutions, collecting, organizing and

evaluating data, making deductions and reaching conclusion, and at last carefully

tasting he conclusions to determine whether they fit the formulating hypothesis.

Research is thus an original contribution to the existing stock of knowledge making

for its advancement. It is the pursuit of truth with the help of study, observation,

comparison and experiment. In short the search for knowledge through objective and

systematic method of finding solution to a problem is research. Thus systematic

approach concerning generalization and formulation of a theory is also research. 

The research processes carried out according to the designed series of steps which are

required to be taken in the chronological order. The major research steps are as

follows:

•Formulating the research problem.

•Choice of research design.

•Determining sources of data.

• Determining data collection form.

• Determining sampling design and sample size.

• Organizing and conducting field survey.

•Possessing and analyzing collective data.

•Preparing the research report.

31

Formulating the research problem:The first step of process is formulating the problem. In order to identify the

research problem three categories of systematic situations namely overt

difficulties, latent difficulties and unnoticed opportunities should be studied. Overt

difficulties are those which are quit apparent. Latent difficulties are those which

are not so apparent. Unnoticed opportunities indicate the potential for growth in a

certain area; such opportunities are not clearly seen some effort is required to

explore them. A researcher may recognize two or more problems at a time. Then

he has to determine the priorities. 

Research Design:The formidable problem that follows the task of defining the research problem is

the preparation of the design of the research project, popularly known as the

“research design”. Decisions regarding what, where, when, how much, by what

means concerning an inquiry or a research study constitute a research design. “A

research design is the arrangement of conditions for collection and analysis of data

in a manner that aims to combine relevance to the research purpose with economy

in procedure”. 

One may split the overall research design in to the following parts:

• SAMPLING DESIGN: This deals with the method of selecting items to be

observed for the given study. 

• OBSERVATIONAL DESIGN: This relates to the conditions under which the

observations are to be made. 

• STATISTICAL DESIGN: These concerns with the question of how many items

are to be observed and how the information and data gathered are to be analyzed.

(b) WHY A RESEARCH ?

Any research by an individual person needs whole consideration of his mind on the

topic so that he can work his best on that project. Research work includes all the work

from the site selecting balance sheet and each letter has its own significance.

32

R = REQUIREMENT

E = ESTIMATION

S = SEARCHING

E = ENQUIRY

A = ALLOCATION 

R = RAW DATA 

C = CREATIVITY

H = HELPFUL FOR SOCIETY WELFARE

Research is done by any person to go deep of any subject to know the 

existence of it. In this research report whose topic is “MUTUAL FUND” so that this

research can be done. What is the customer preference of joining the mutual funds?

The research methodology adopted was survey methods. Mutual fund survey was

conducted for the purpose of collection data, the data has been collected both from

primary source and secondary source. 

METHOD OF STUDY

(a) DATA COLLECTION METHOD

There are two types of data: 

• Primary Data

• Secondary Data

Primary Data: 

Primary data do not exist in record and publication. We have to gather data a fresh for

the specific study, under taken by ourselves. 

Source of primary data

1) Survey Approach

2) Observation Approach

3) Panel Research

4) Experimental Research

Secondary Data: 

The data referred to those which gathered for some other purpose and are already

available in the mutual fund initial records, publication are secondary data. 

Sources of secondary data: 

33

5) Published of secondary data

6) Specialized libraries

7) General library research sources 

8) Websites

DATA COLLECTION

The task of data collection begins after a research problem has been defined are research design chalked out. While deciding about the method of data collection to be used for the study, the researcher should keep in mind two types of data that is primary and secondary. 

Primary data collection:

The micro level analysis of the Insurance sector and money market done by primary data analysis. During the analysis following method were used:

Meetings Interview method Observational method Questionnaire method

The methodology included personal well as telephonic call of the etc. mostly the telephonic interviews were connected to selling, that was a limitation. It also has an advantage that, a lot of time was saved since travelling was not required.

Most of the data was also collected by personal interviews during the regular visits to the companies and clients. The face to face interaction was better as compared to telephonic interviews since the response was better.

During the regular visits to the clients, a lot of observation was done as the location of clients. This also helps in comparative analysis of different clients.

The visits to the clients were made on the regular basis and some notes were prepared in diary which could be reffered whenever required.

34

Secondary Data Collection:

The study is a comparatively access of different requirements was done by secondary data analysis. The clients list was prepared from our references and friends contacts. A lot of research was done for the various products available in the market in insurance and mutual funds. The comparative analysis was done through a site which provides all companies all together and comparing option.

Though for going analytical of the study needs a proper view to realize further consideration of what really to be presumed as true as course of the study conducted.

The following are sources are secondary data:-

News paper Monthly market review of ABML. Website/internet Company magazines (i.e.- Investime) Company employees

Tools and Techniques of Analysis:

• LINE CHART AND COLUMN CHART

• PIE CHARTS 

• BAR GRAPHS

LINE CHART AND COLUMN CHART:

A line chart and a vertical column chart are alternatives, common to them is that a

continuous variable, usually time, is on the horizontal axis, and that they are best

suited to presenting time series. A minimum requirement for the variable placed on

the horizontal axis is that its scale should be ordinal. 

A line chart emphasizes variation and trend, whereas a column chart emphasizes

magnitude and variation in magnitude. Because of this difference a break in the

vertical scale or quantity scale, is of little importance in a line chart, whereas in a

column chart, a break in the quantity scale distorts the visual message.

35

PIE CHARTS

A pie chart consists of a circle divided into sectors whose areas carry the quantitative

information. This has to be taken in to account when pie charts are placed side by side

so that their areas are in proportion to the total amounts (the area of the circle

increases in proportion to the square of the radius).

A pie chart can only portray a proportional distribution (percentages), and it conveys

information much does. A pie chart should not be used if data are to be presented

accurately, and for the same reason it is justified to give the numerical values of the

percentage distributions as well. 

BAR GRAPHS

Horizontal bar charts are well suited for portraying quantities attached to classes and

groups. The variable on the vertical axis does mot require a continuous scale. A bar

chart is not an alternative to a column chart. 

CompetitionCompany name Last

PriceMarket

Cap.(Rs. cr.)

SalesTurnove

r

Net Profit

Total Assets

Indiabulls 169.20 5,263.95 2,049.70 608.69 20,740.20Edelweiss Cap

34.00 2,556.89 448.74 58.72 2,763.54

India Infoline 87.70 2,516.49 729.54 122.36 1,605.86SKS Microfin 342.00 2,473.48 1,245.47 111.63 4,016.87Delta Corp 102.60 2,070.55 261.63 128.63 443.06Network 18 127.15 1,511.76 39.91 -69.13 1,596.23Motilal Oswal F 93.60 1,351.76 49.85 42.65 512.58Future Capital 140.15 908.15 221.08 47.56 1,196.17Geojit BNP 23.75 542.36 234.72 48.73 356.50Nalwa Sons Inv 770.00 395.48 18.66 15.64 280.00Aditya Birla 20.95 116.06 98.90 -9.46 94.94

36

QUESTIONNAIRE ANALYSIS AND INTERPRETATION

The response of the questionnaire is based on 70 respondents which I selected from various part of the city where I conducted this survey. The analysis and interpretation has been done in each question after the response taken from them.

1. Do you invest money?o Yes o No

 Sr. No. Responce NO. OF RESPONSE1 YES 602 NO 10

60; 86%

10; 14%

Invest or not..?

1 YES

2 NO

Analysis:

The data shows that out of 70 respondents, 60 or 86% of them invest money in various investment plans. 10 people or 14% of them are those people who are not aware of the various plans or they are risk sensitive.

37

2. If Yes, in which avenues you invest?o Mutual Fund o Bankso Share Market o Post Officeo Others

 Sr. No.  Avenues No. of Response

1Mutual Funds 30

2 Banks 18

3Share Market 12

4 Post Office 05 Others 0

Mutual Funds

Banks  Share Market

Post Office  Others0

5

10

15

20

25

30

3530

18

12

0 0

Avenues of investment

No. of Response

Analysis:

In my research, 50% of those people who invest in various plans in the market invest in mutual funds. 18 of them save their money in bank accounts and 12 of them invest in share market. In my client list, I did not found any client who invest in post office or other where.

38

3. Why do you invest in Mutual Fund?o Good Returno Low risk o Best Investmento Others 

Sr. No. Reason  No. of Response1 good returns  152 low risk  5

3best investment 8

4 others 2

good returns ; 15; 50%

low risk ; 5; 17%

best investment; 8; 27%

others; 2; 7%

Reason of investment

good returns low risk best investmentothers

Analysis:

According to graphical representation of the above chart, the following analysis has been done:

50% people invest in mutual funds because of good returns. 17% people invest in mutual funds because of low risk. 27% people invest in mutual funds because they think that it’s a best

investment. 6% people gave other reasons.

39

4. From how many years you are investing in Mutual Fund ?o 1-2year o 2-4year’o 5year’s o more than 5 year’s 

Sr. No. time  No. of Response1 1-2year 122 2-4 year 103 4-5 year 6

4More than 5 year 2

1-2year 

2-4 year

4-5 year

More than 5 year

0 2 4 6 8 10 12

12

10

6

2

Time period of investment

No. of Response

Analysis:

the above shown bar graph shows the time period of investment of the various clients to whom I interacted for getting their response for my survey. The analysis of this data is as following :

40% of the clients have invested from last 1-2 years. 33% of the clients have invested from last 2-4 years. 20% of the clients have invested from last 4-5 years. 6% clients have invested from more than 5 years.

40

5. Do you know about various schemes offered by BSLI Mutual Fund?o Yeso No

Sr. N. Awareness NO. OF RESPONSE1 YES 222 NO 8

22

8

Awareness of various schemes of BSLI MF

YESNO

Analysis:

The above pie chart shows that only 73.33% people know about various scheme offered by Birla Sun Life Mutual Fund. And rest 26.67% people don’t know about those schemes in which they are investing. It means they are investing their money through any broker.

41

6. Which type Mutual Funds you invest?o Open Ended o Close Endedo Both o Don’t know

Sr. No.Type of Mutual Fund No. of Response

1 Open Ended 182 Close Ended 43 both 64 don’t know 2

Open Ended Close Ended both don’t know0

2

4

6

8

10

12

14

16

18

18

4

6

2

Types of Mutual Fund

No. of Response

Analysis:

The above graphical representation of the data shows that 60% people invest their money in open ended schemes of the mutual fund. Some of them invest in both i.e. open and close ended schemes. The reason behind investing more in open ended scheme is its liquidity, means whenever they need their money, they can withdraw.

42

7.In which scheme do you invest?o Equity diversified o Sector fundo Balance fund o Money market fund

o Don’t know

Sr. No. Scheme of investment No. of Response1 Equity diversified 82 Sector Fund 43 Balance Fund 84 Money Market Fund 05 Don’t know 10

Equity diversified

Sector Fund

Balance Fund 

Money Market Fund

Don’t know

0 1 2 3 4 5 6 7 8 9 10

8

4

8

0

10

Scheme of Investment

No. of Response

Analysis:

33% people don’t know the scheme name in which they have invested their money. They have just invested in the name of company. They are those people who have less knowledge about terminologies of mutual funds or its functioning.

26% people have invested in balance fund. 13% people have invested in sector fund. 26% people have invested in Equity diversified fund. They are risk taker. They

are those people who invest in equity market also.

43

8.Are you aware about the risk factors associated with Mutual Fund?o Yes o No

Sr. N. Awareness of risk factor with MF NO. OF RESPONSE1 YES 282 NO 2

28; 93%

2; 7%

Awareness of risk factor with MF 

YESNO

Analysis:

Only 7% people don’t know about risk factor associated with mutual funds. 93% people know about risk and returns from mutual funds.

The people who don’t know about risk are speculators, they don’t know about market condition. And they don’t know about NAV concept. They have just invested to get higher returns than bank deposits.

44

9.How much you invest in BSLI Mutual Fund?o 0 - 50,000 o 50,000-1,00,000o 1,00,000 – 5,00,000o More than 5,00,000

Sr. No. Amount Invested No. of Response1 0 - 50,000 112 50,000-1,00,000 123 1,00,000 – 5,00,000 44 More than 5,00,000 3

 0 - 50,000 50,000-1,00,000

1,00,000 – 5,00,000

More than 5,00,000

0

2

4

6

8

10

12

14

1112

43

Amount Invested

No. of Response

Analysis:

37% people have invest their money in the range from 0 – 50,000 Rs. 40% people have invested their money in the range from 50,000-100,000 Rs. 13% people have invested in the range in b/w 1,00,000 – 5,00,000 Rs. Only 10% people have invested more than 5,00,000 Rs.

Most of the people have invested in SIP (systematic investment plan) in which they are investing less money in monthly wise that’s why their money invested in less.

45

10. Are you getting good returns in BSLI Mutual Fund?o Yeso No 

Sr. N. Getting good returns in MF..? NO. OF RESPONSE1 YES 272 NO 3

27; 90%

3; 10%Getting good returns in MF..? 

YESNO

Analysis:

90% people are getting good returns from their investment in Mutual funds. Only 10% people are not getting good returns from MF.

Before investing in Mutual Fund, the client has to decide that in which scheme he want to invest. If he has taken wrong decision then he definitely get loss sometimes.

46

11. from where you come to know about BSLI Mutual Fund?o News paper o Relatives/Friendso Brokerso Televisiono Hoardings 

Sr. No. Source of Information about BSLI MF No. of Response1 News paper 02 Relative / Friends 113 Broker 164 Televesion 05 Holdings 1

News paper 

Relative / Friends

Broker

Televesion

Holdings

0 2 4 6 8 10 12 14 16

0

11

16

0

1

Source of Information about BSLI MF 

No. of Response

Analysis:

The above shown chart shows that what is the source of getting information about BSLI mutual fund. After analysis of the data it has been found:

Only 3% people came to know about BSLI MF from holdings. 53% people have been told by broker. 37% people have been informed by their relative or their friends.

There is no advertisement in television and no add in news paper of BSLI mutual fund that’s why its promotional strategies are to be reformed. In comparison to other firms with mutual funds its advertisement is less.

47

12. Are you facing any problem with your mutual funds?o Yes o No

Sr. N. Problem with MF NO. OF RESPONSE1 YES 62 NO 24

6; 20%

24; 80%

Problem with MF

YESNO

Analysis:

80% people have no any problem with their investment in mutual fund because they are always connected with the fund manager and always updated with the current NAV. They always check the current market condition and accordingly invest in mutual fund.

20% people have problem with their investment due to lack of information about their fund. They are not updated with the current scenario of market and they don’t know the functionality of mutual fund.

48

CHAPTER -04

OBSERVATION AND FINDINGS

Most of the people have invested in Mutual Funds.

Almost 60% people invest in Open ended fund, 13% people invest in Close ended fund, and 20% invest in both.

Out of 60 people, 30 people have invested in Mutual Fund, 18 people are invested in Banks, 12 people in Share Market.

90% of people agreed that they are getting good returns in their BSLI Mutual Fund.

Out of 60 people, 40% people are invested in Mutual Fund in between 1-2 Years.

53% of the people come to know about Mutual fund through Brokers.

While survey I found that people are satisfied with their investment and most of them do not want to shift to other mutual fund.

CHAPTER -05

49

LIMITATIONS

The limitations of the project are as follows:

As everybody know that the market conditions are very volatile these days, so that is the biggest hurdle for insurance sector and money market.

A quality time is wasted in travelling. Some of the clients were not so responsive. Most of the clients of insurance don’t believe in private insurance companies as

they believe in government based companies like LIC (life insurance corporation).

Right now the market condition is not steady in growth rather it is very much volatile. So in case of investment in mutual funds of the company, clients have fear that the NAV will increase or decrease.

Limited time frame is another bond as some of the clients did not have money right now but they can invest in near future in some of the best plans like Foresight Plan of BSLI.

The study was carried out in Kanpur (U.P.) region only. Limited knowledge about local market. Time constraint. As the collected data in the month of May to July the result could not be

considered consistent for the whole year. In case of secondary data analysis, the most of the data is not updated, therefore

it may depict an incorrect current picture. Unavailability of data is another biggest limitation in secondary data analysis.

CHAPTER -06

SUGGESTIONS AND RECOMMENDATIONS

50

The awareness of the company’s products of insurance and mutual funds should be spread more toward those area where its presence is not there like some of the commercial cities, there is no any office of BSLI.

New promotional strategies should be adopted to capture the market as its competitors have better promotional compaign in electronic and print both media.

There are some products in company which are for HNI clients so that should be designed in such a way that small investors also can invest in those products like gold harvest.

I have observed in some client cases that they are curious about investment plan but they are not aware with the plans company offers. So we need to focus on spreading awareness more.

In BSLI I recommend some plans to invest in for HNI clients that is FORESIGHT PLAN which give maximum profit from the market during that term of investment.

• Many of the people are still want to know more about the concept of mutual fund. Thus their arises need to provide more information to the people about the concept of mutual fund.

• Mutual fund schemes should have perfect blend of safety, Returns, Tax benefit.

• Brokers are the most important link in channel of distribution with respect to mutual fund industry and can influence the people to invest in Mutual Funds. Therefore the fund houses should do their best to inspire and motivate the broker by providing them good incentives.

CHAPTER-07

CONCLUSION

51

In this project an attempt to study the mutual funds and go for the comparative analysis of investor behavior who invests in BSLI mutual fund. Here the comparative analysis is done on the basis of primary and secondary data and thus increasing the authenticity of the result obtained.

According to the analysis done under this project, both the primary and secondary data analysis reflects that BSLI Mutual fund is the most promising fund among the other mutual funds and people who invest in BSLI mutual fund are fully satisfied with their investment.

BIBLIOGRAPHY

52

1. BOOKSI. AMFI

II. MUTUAL FUNDSIII. RESEARCH METHODOLOGY (By A.B. Rao)

MAGAZINES 1) INVESTIME (BSLI Mutual Fund)2) BUSINESS TODAY3) MONTHLY MARKET REVIEW (Birla Sun Life Insurance)

THROUGH WEBSITE

www.mutualfunds.com

www.google.com

www.adityabirlamoney.com

www.moneycontrol.com

www.amfiindia.com

QUESTIONNAIRE  

Disclaimer: I am Management student of Pune Institute of Business Management (PIBM). The purpose of this study is purely academic and information will not be disclosed for any commercial purpose.Institute/Organization Name:-…………………………………………………….. 

53

Contact Person:-……………………………………..….Date:-………………........Email Id:-…..……………………………………Phone Number:-…………………

1. Do you invest money?o Yeso No

2. If Yes, in which avenues you invest?o Mutual Fund o Bankso Share Market o Post Officeo Others

3. Why do you invest in Mutual Fund?o Good Returno Low risk o Best Investmento Others 

4. From how many years you are investing in Mutual Fund?o 1-2year o 2-4year’o 5year’s o more than 5 year’s 

5. Do you know about various schemes offered by BSLI Mutual Fund?o Yeso No

6. Which type Mutual Funds you invest?o Open Ended o Close Endedo Both o Don’t know

54

7.In which scheme do you invest?o Equity diversified o Sector fundo Balance fund o Money market fund

8.Are you aware about the risk factors associated with BSLI Mutual Fund?o Yes o No

9.How much you invest in BSLI Mutual Fund?o 0 - 50,000 o 50,000-1,00,000o 1,00,000 – 5,00,000o More than 5,00,000

10. Are you getting good returns in BSLI Mutual Fund?o Yeso No 

11. From where you come to know about BSLI Mutual Fund?o News paper o Relatives/Friendso Brokerso Televisiono Hoardings 

12. Are you facing any problem with your mutual funds?o Yes o No

55