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Customer Satisfaction with product & Service of Reliance Mutual Fund
Chapter-1
Rationale for the Study
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The Reason to choose this project to analysis the Indias leading mutual fund
company Reliance Mutual Fund and analysis their competitive advantages & limitations,
customer satisfaction review, acknowledge their schemes and reason for growth in their asset
over the year to year. What it makes it very potential higher than other mutual funds.
Reliance Growth Fund( 1st
ranked scheme in mutual fund Industry) held the highest amount
of Rs 68 billion followed by HDFC Top 200 Fund, when Reliance Diversified Power Sector
Fund 1993 with average AUM of Rs 55 billion.
Reliance Equity Fund NFO (6th Feb -7th March 2006), the largest ever collection of Rs.5,759
crore ($1.29 billion) in the history of the Indian Mutual Fund industry
Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Assets Under
Management (AUM) of Rs. 1,08,332 crore (AUM as on 30th June 2009) and an investor base
of over 70.87 Lakes. Rapid growth in Assets under Management (AUM), 87.7% growth &
investor base 66.89% growth in year on year. My main purpose behind this project is to
know whether their investors are aware with their rights which are mutually come with
schemes and awareness with the area of investment of schemes, dividend and key
information memorandum (KIM) etc.
From this project, Company gets aware with their investors perception, feedback about their
avail services and position in the market and according to it make some necessary changes.
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Growth in asset under management (AUM) by mutual fund
Chart-2
Source: AMFI, Till Feb-2007 (Phase-I, II, III= Distributing time period of Mutual fund entry)
[Phase-I: Entry of first Mutual fund company UTI (1964-87)
Phase-II: Entry of Public sector funds (1987-93)
Phase-III: Entry of Private sector funds (1993-2003)
Phase-IV: Since February 2003]
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Chapter-2
Objective of the Study
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Title of the project
CCuussttoommeerr SSaattiissffaaccttiioonn wwiitthh PPrroodduucctt && SSeerrvviiccee ooffRReelliiaannccee MMuuttuuaall FFuunndd
Objective of the study
The study aims at analyzing the following major issues:
To analyze the perception of investor about different mutual fund.
To analyze the perception of existing investors about Reliance mutual fund.
To Measure the Awareness of different services of RELIANCE MUTUAL FUND in Existing
Investors. Like their Online & Offline after sale Services.
To know the different attitudes of people regarding Risk, Rate of Return, period of investment etc.
To study the diversification of mutual fund.
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Scope of the project
From the customer feedback and perception about company help intoreformulate some necessary
changes as a result improve the companys performance as well as well regulated administration
better.
Company concentrates more on the advertisement and promotion activity/campaign as a scheme
wise.
Findings of the study can be used in formulating the future product and services of Reliance mutual
fund.
This study can lead the organization into further in depth studies of the improvement areas in terms
of consumer perception of RMF product & services.
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Chapter -3
Profile of the company
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Reliance
Introduction
Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Average asset
Management (AAUM) of Rs. 1, 08,332 CRORES and an investor base of over 70.87 Lakh.
(AAUM and investor count as on June 30, 2009)
Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group, is one of the
fastest growing mutual funds in the country. Reliance Mutual Fund offers investors a well-
defined portfolio of products to meet varying investor requirements and has presence in 118
cities across the country.
Reliance Mutual Fund constantly endeavors to launch innovative products and customer
service initiatives to increase value to investors. "Reliance Mutual Fund schemes are
managed by Reliance Mutual Fund Limited., a subsidiary of Reliance Capital Limited...
Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial
services companies, and ranks among the top 3 private sector financial services and banking
companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management,
life and general insurance, private equity and proprietary investments, and other financial
services.
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Origin
Reliance Mutual Fund Limited (RCAM), a company registered under the Companies Act,
1956 was appointed to act as the Investment Manager of Reliance Mutual Fund."Reliance
Mutual Fund schemes are managed by Reliance Mutual Fund Limited., a subsidiary of
Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM
Reliance Mutual Fund Limited (RCAM) was approved as the Asset Management Company
for the Mutual Fund by SEBI consults their letter no IIMARP/1264/95 dated June 30, 1995.
The Mutual Fund has entered into an Investment Management Agreement (IMA) with
RCAM dated May 12, 1995. RCAM is authorized to act as Investment Manager of Reliance
Mutual Fund. The net worth of the Asset Management Company including preference shares
as on September 30, 2007 is Rs.152.02 crores. March 31, 2008 is Rs 709.39 crores.
Reliance Mutual Fund Competitive Advantages
Reliance Mutual Fund At a Glance
The first mutual fund in India to offer instant cash withdrawal facility on investments.
Reliance Mutual Fund offers the Reliance An y Time Money (ATM) Card with select
schemes. The card is a benefit for retail investors as it enables them to withdraw their
investment any time, anywhere at over 1 million VISA-enabled ATMs across the world.
Reliance Mutual Fund is amongst the few mutual funds with a 24X7 Call Centre facility.
Reliance Mutual Fund has over 10 years of extensive market experience, over 26 schemes
combined with a strong performance track record.
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Footprint in over 100 cities in India.
Wide network of 130 collection points.
Wide portfolio of 26 well-rounded products to meet varying investor requirements.
Reliance Mutual Fund is amongst the few mutual funds in the industry to offerSubscription,
RedemptionandSwitch through Online Transactions.
Vision
To be a globally respected as a wealth creator with an emphasis on customer care by
understanding the need of them & culture of good corporate governance.
Mission
To create and raise a world-class, high performance environment aimed at delighting &
satisfy our customers.
The Management Team
Board of Directors
Mr. Soumen Ghosh
Mr. Kanu Doshi
Mr. Manu Chadha
Mr. Sushil Tripathi
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Management Team
CEOMr. Sundeep Sikka
Head Equity InvestmentsMr. Madhusudan Kela
Head Fixed Income
Mr. Amitabh Mohanty
Equity Fund Managers
Mr. Sunil B. Singhania Mr. Ashwani Kumar
Mr. Shailesh Raj Bhan Mr. Shiv Chanani
Mr. Krishan Daga Mr. Govind Agrawal
Mr. Omprakash S. Kuckian
Debt Fund Managers
Mr. Amit Tripathi Ms. Anju Chhajer
Mr. Prashant Pimple Mr. Arpit Malaviya
Commodities
Fund Manager Mr. Hiren Chandaria
Head Of Departments
Infrastructure & Admin Mr. Pradeep Andrade
Finance and Accounts Mr. Milind Gandhi
Human Resource Development Mr. Rajesh Derhgawen
Information Technology Mr. Vinay Nigudkar
Service Delivery & Operations Excellence Mr. Bhalchandra Joshi
Operations & Settlement Ms. Geeta Chandran
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Chapter - 4
Review of Literature
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Introduction
A Mutual Fund is an ideal investment vehicle where a
number of investors come together to pool their money with common
investment goal. Respective Asset Management Company (AMC)
manages each Mutual Fund with different type of schemes. An investor can
invest his money in one or more schemes of Mutual Fund according to his
choice and becomes the unit holder of the scheme.
Fund manager in different types of suitable stock and securities, bonds and money market
instruments then invests the invested money in a particular scheme of a Mutual Fund. Each
Mutual Fund is managed by qualified professional men, who use this money to create a
portfolio, which includes stock and shares, bonds, gilt, money-market instruments or
combination of all. Thus Mutual Fund will diversify your portfolio over a variety of
investment vehicles. Mutual Fund offers an investor to invest even a small amount of money.
Asecurity thatgives small investors access to a well-diversified portfolio of equities, bonds, and
other securities. Each shareholder participates in the gain or loss of the fund.
Shares are issued and can be redeemed as needed. The fund'sNet asset value (NAV) is
determined each day. Each mutual fund portfolio is invested to match the objective stated in
the prospectus.
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Mutual Fund offers several benefits to an investor such as potential return,
liquidity, transparency, income growth, good post tax return and reasonable safety. There are
number of options available for an investor offered by a mutual fund.
A draft offer document is to be prepared at the time of launching the fund. Typically, it has a
specifies the investment objectives of the fund, the risk associated, the costs involved in the
process and the board rules for entry into and exit from the fund and other areas of operation.
In India, as in most countries.
These sponsors need approvals from a regulator, SEBI (securities Exchange Board of India)
in our case. SEBI looks at track records of the sponsor and its financial strength in granting
approval to the fund for commencing operations.
.
Source: Definition of Mutual Funds - Sunday September 02 5:25 pm Share Khan
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Mutual Funds in India
UTI Private sector Public
JVs with foreignPartners
Foreign Houses Indian H u e
Birla Sun Capital
Prudential ICICIAlliance CapitalKothari Pioneer
Templeton
AllianceMorgan Stanley
TATA
JMReliance
Banks
y SBIy CANARAy PNBy BOI etc.
Institutions
y GICy LIC etc.
Flow of Mutual funds
A mutual fund is a common pool of money into which investors with varied common
investment objective place their contributions that are to be invested in accordance with the
stated investment objective of the scheme. The investment manager would invest themoney
collected from the investor into assets that are defined/ permitted by the stated objective of
the scheme.
For example, an equity fund would invest equity and equity related instruments and a debt fund
would invest in bonds, debentures, gilts etc.
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A Mutual Fund is a trust that pools the savings of a number of investors who share common
financial goal; investments may be in shares, debt securities, money market securities or a
combination of these. Those securities are professionally managed on behalf of the unit-
holders.
Ex: entitled to any profits when the securities are sold, but subject to any losses in value as well.
The income earned through these investments and shared by its unit holders in proportion to
the number of units owned by them. Thus a Mutual Fund is the most suitable investment for
the common man as it offers an opportunity to invest in a diversified, professionally managed
basket of securities at a relatively low cost.
Mutual funds are investment companies that use the funds from investors to invest in other
companies or investment alternatives. They have the advantage of professional management,
diversification, convenience and special services such as cheque writing and telephone
account service.
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Types of mutual fund schemes
Objectives
FUND OBJECTIVE WHAT THE FUND WILL INVEST IN
Equity (growth) Only in stocks
Debt (Income) Only in fixed-income securities
Money Market (Including Gilt) In short-term money market instrument (including government
securities)
Balanced Partly in stocks and partly in fixed-income securities, in order to
maintain a 'balance' in return and risk
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By structure
I. Open-Ended Funds
Open-Ended fund scheme is open for subscription all through year. An
investor can buy or sell the units at "NAV" (NetAssetValue) related price at any
time.
An investment of these schemes will predominantly be in the stock markets
and endeavor will be to provide investors the opportunity to benefit from the
higher returns which stock markets can provide.
However they are also exposed to the volatility and attendant risks of stock markets and
hence should be chosen only by such investors who have high risk taking capacities and are
willing to think long term.
Equity Funds include diversified Equity Funds, Sectoral Funds and Index funds.
Diversified Equity Funds invest in various stocks across different Sectors while sectored
funds which are specialized Equity Funds restrict their investments only to shares of a
particular sector and hence, are riskier than Diversified Equity Funds. Index Funds invest
passively only in the stocks of a particular index and the performance of such funds Move
with the movements of the index.
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IV. Money Market FundsThe objective of Money market funds is to provide easy liquidity, regular
income and preservation of income.
Money market funds also come in two varieties, taxable and tax-free.
Taxable funds buy the best-yielding short-term corporate, agency or
government issues available, while tax-free funds are limited to buying primarily
municipal debt. Taxable funds pay slightly higher income than tax-free funds, but you must
pay tax on any distributions they make. In either case, the rate a fund pays is roughly the
same as bank money market accounts or CDs.
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Other Funds/Scheme
I. Tax Saving SchemesThe objective of Tax Saving schemes is to offer tax refund to the investors under specific
provisions of the Indian Income Tax Laws. Investments made under some schemes are
allowed as deduction u/s 88 of the Income Tax Act.
II. Industry specific SchemesIndustry specific schemes invest only in the industries specified in the offer document of the
schemes.
III. Sectorial SchemesThe schemes invest particularly in a specified industries or initial public offering.
IV. Index SchemesSuch schemes link with the performance of BSE Sensex or NSE.
How Long To Keep Investment To Get Maximum Returns
Basically, in open-ended funds you can withdraw your investments at anytime even within a
week, but to get desired returns positive time frame is required are
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Funds Time Period
Equity Funds 3 Years (plus)
Balanced Funds 18 months to 3 Years
MIPs 1 Year (plus)
Income Funds 6 months to 1 Year
Liquid Funds few days to 6 months
Expected Returns as Schemes Wise
Funds Returns(Per Annum)
Sector funds 22% to 25%
Balance funds 15% to 18%
MIPs Pension Plans 12% to 15%
Income Funds 10% to 12%
Liquid Funds 7% to 9%
SWOT ANALYSIS
STRENGTHS
Original research
Integrated technology platform
Performance of previously introduced funds
Pan India distribution
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WEAKNESS
After Sales Services
Limited number of outlet
OPPORTUNITIES
Changing demographic with higher disposable income and increasing complex financial
instruments will drive the demand for investment advisory services
Rapid penetration of internet and computer needs that technology enabled services will gain
market share
THREATS
Economic slowdown
Stock market fall will have a cascading effect on mutual fund mobilization
Increase or decrease in interest rates can effect debt or income mobilizationsFuture changes in personal taxation rules can impact insurance sales
Increasing competition from large and particularly foreign players
Advantages
There are numerous benefits of investing in mutual funds and one ofthe key reasons for its
phenomenal success in the developed markets like US and UK is the range of benefits they
offer, which are unmatched by most other investment avenues.
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Liquidity
Often investors hold shares or bonds they cannot directly, easily and quickly sell. Investment
in mutual fund, on the other hand, is more liquid. An investor can liquidate the investment by
selling the units to the fund if it is an open-ended fund, or by selling the units in the stock
market if the fund is a closed-ended fund, since closed-end funds have to be listed on a stock
exchange, in any case, the investor in a closed-ended fund receives the sale proceeds at the
end of a period specified by the mutual fund or the stock exchange.
Convenience
Mutual fund investment process has been made further more convenient with the facility
offered by funds for investors to buy or sell their units through the internet or email or using
other communication means
TransparencyThe investors get updated market information from the funds. The fund managers also share
the information about the schemes in the transparent manner, with all material facts required
by regulators to be disclosed to the investors. The NAVs of open-ended funds are disclosed
on a monthly basis ensuring transparency to the investors.
Features
Reliance was the first fund house to launch sector Funds with flexibility to invest in a range
of 0% to 100% in either equity or debt instruments.
Mutual fund investments linked to an ATM/debit Card a Reliance innovation Indias first
long short Fund comes from Reliance Mutual Fund.
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As at 31st May 2008, more than 6.6 million people had invested in Reliance
Mutual Fund; the Investments comprised 16% of the countrys entire Mutual Fund.
Disadvantages of Mutual Funds
Fluctuating Returns
Mutual funds are like many other investments without a guaranteed return. There is always
the possibility that the value of your mutual fund will depreciate. Unlike fixed-income
products, such as bonds and Treasury bills, mutual funds experience price fluctuations along
with the stocks that make up the fund.
Diversification
Although diversification is one of the keys to successful investing, many mutual fund
investors tend to over diversify. The idea of diversification is to reduce the risks associated
with holding a single security; over diversification occurs when investors acquire many funds
that are highly related and so don't get the risk reducing benefits of diversification.
Costs
In mutual funds the fees are classified into two categories: shareholder fees and annual fund-
operating fees.
The shareholder fees, in the forms of loads and redemption fees are paid directly by
shareholders purchasing or selling the funds. The annual fund operating fees are charged as
an annual percentage - usually ranging from 1-3%. These fees are assessed to mutual fund
investors regardless of the performance of the fund.
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When the fund doesn't make money these fees only magnify losses.
Misleading Advertisements
The misleading advertisements of different funds can guide investors down the wrong path.
Some funds may be incorrectly labeled as growth funds, while others are classified assmall-
cap or income.
Evaluating Funds
Another disadvantage of mutual funds is the difficulty they pose for investors interested in
researching and evaluating the different funds. Unlike stocks, mutual funds do not offer
investors the opportunity to compare the P/E ratio, sales growth, earningsper share, etc.
Schemes of Reliance Mutual Fund
Reliance Growth Fund (September 1995)
Reliance Income Fund (December 1997)
Reliance Medium Term Fund (August 2000)
Reliance Diversified Power Sector Fund (March 2004)
Reliance Index Fund (February 2005)
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Reliance Tax Saver (ELSS) Fund (July 2005)
Reliance Equity Linked Saving Fund - Series I (December 2007)
Reliance Infrastructure Fund (May 2009)
Reliance vision fund
Reliance Natural resources fund
What is Research design?
Research can be defined as systemized effort to gain new knowledge. A research is carried
out by different methodologies which have their own pros and cons. Research
methodology is a way to solve research in studying and solving research problem along
with logic behind them are defined through research methodology.
Thus while talking about research methodology we are not only talking of research
methods but also considered the logic behind the methods. We are in context of our
research studies and explain why it is being used a particular method or technique and
why the others are not used. So that research result is capable of being evaluated either by
researcher himself or by others.
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Chapter -5
Research Methodology
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Research Design
I) The study at reliance mutual fund is a combination of analytical & practical study.
II) It is a based on secondary data collected from records of the company as well as other
published sources beside the primary data collected from theinvestors.
II) The study was covered over a period of 2 months.
Data collection Method/Sources
There are two types of sources for collection of data
1) Primary DataPrimary data are collected through personal and telephonic interviewswith the help of a
structured questionnaire.
2) Secondary DataThese data are collected from company sources, internet, magazines, newspapers and
reference books
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Sample Size
Large sample gives reliable result than small sample. However, it is not feasible to target
entire population or even a substantial portion to achieve a reliable result due to the time and
cost limit factors. So, in this aspect selecting the sample to study is known as sample size.
Hence, for my project my sample size was 100.
Primary Data Collection Sources
Proceeding further after determines the Methodology and limitation of the study the next step
is to analyze the Data being collected for the study. Data is being collected from various
sources like:-
Questionnaire (personal visit)Telephonic Calling etc.
Questionnaire
Questionnaire is a very powerful tool for collection of data from the clients or investors.
Questionnaire is a written form being given to the investor to give feedback about the
services provided to them and also to find the satisfaction level of the investor for a particular
investment product. Questionnaire is an easy and simple way of collecting a data. After
filling up of form the next step is to evaluate the form in different dimensions and draw a
conclusion.
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Telephonic Information
The further source of collecting data is telephonic information with the existing customer
and the prospective investors. It is very difficult to reveal the data of investors from the
company itself because it has been kept as a secret document.
Comparisons between telephonic & personal interview
Telephonic interview Personal interview
30-40% 70-80%
35
75
0
10
20
30
40
50
60
70
80
telephonic interview persoanl interview
Respondent Rate(Average)
Respondent rate(average)
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Chapter 6
Data analysis & Interpretation by Chart/ Graphs
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Perception about Mutual Fund
Safe 62%
Risky 16%
Other 22%
Interpretation
From the above chart we can see that in the current scenario people are not feel that
mutual fund are more riskier likewise share. Because here group of professional people
are managed it very well. As well as investment are diversified thus risk are decreasing.
Safe
62%
Risky
16%
Other
22%
Views About Reliance Mutual Fund
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Identification of Mutual Fund Companies
Aspects Percentage
Brand Name 41
Good Service 38
High Yield 8
Advertisement 5
Any other reason 8
Interpretation
From the above chart it is clear that Brand Name plays an important role for attracting
investors. Secondly, good services are also expected by an investor from the companies. In
other reasons investors generally pointed out the identification of the companies known by
their friends or relatives.
Advertisements and high yield are the secondary aspects of identifying the mutual fund
industries.
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Brand Name Good Services High Yield Adversiment Any Other
Reason
Percentage
Brand Name Good Services High Yield Adversiment Any Other Reason
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Most Preferred Scheme Choose by Customer
Growth schemes 60%
Income schemes 5%
Balance schemes 5%
Money Market and Liquid
schemes
2%
Tax saving schemes 25%
Guilt Funds 3%
Interpretation
Growth scheme are very popular comparatively than money market, liquid, income and tax
saver scheme. Though growth scheme are totally invested in equity market with high risk
taking.
GrowthScheme60%
Income Scheme
5%
Balance
Scheme
5%
Money
Market &
Liquid
schem
2%
Taz saving Scheme
25%
Guilt Funds
3%
Most Preferred Scheme
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Desired Return from Reliance mutual funds
Good 55%
Medium 37%
Low 18%
Interpretation
Out of 100 respondents, there are 55% investors are satisfied with Reliance mutual fund
returns.
0%
10%
20%
30%
40%
50%
60%
good
medium
low
55%
37%
1
%
good medium low
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Satisfy with Services Provided by Reliance Mutual fund
Highly satisfied 62%
Satisfied 15%
Somewhat satisfied 10%
Unsatisfied 8%
Highly unsatisfied 5%
62%15%
10%
%
5%
Sa i ac i Level
Highly Satisfied Satisfied Somewhat Satisfied Unsatisfied Highly Unsatisfied
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Interpretation
Out of 100 Respondents,72% investors have said that they are know about reliance mutual
fund from their brokers/agents whereas only few percentage of another sources are affected
in making knowledge about reliance mutual fund into investors.
Fill the Customer feedback form
Yes 32%
No
Interpretation
Only 68% investors have said that they havent filled a feedback form. From that I can know
that company make a little bit effort in conducting feedback from investors.
Yes No
%
68%
Customer Feedback Form
Yes No
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Chapter 7
Findings
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Project Findings
During my personal visit, I found some of the people who were personally contacted showedreservation about dealing with RELIANCE MUTUAL FUND LTD.
Company has put less effort in advertising & promotion activity as compared to anothermutual fund company. There is no doubt that most of investors are aware with reliance
mutual fund from their prospective brokers/agents.
As I saw that only one Registrar and Transfer agents (RTA) office in entire North Gujarat(N.G) who are handling the all brokers/agents throughout all the city. As compared to another
Mutual fund house it is very low. So Reliance mutual fund has to improve their distribution
channel.
Reliance mutual funds equity schemes are convenient for small investors (like students,farmers) because their initial amount in investing in SIP (Systematic investment plan) is only
100 Rs. Which are minimum initial amount is 500 or 1000 Rs. in any other mutual fund
schemes.
Reliance mutual fund almost removed theirLOAD Charges (Entry load/ Exit load) whichare still in almost another comparative mutual fund schemes. It has worked positively in
favor of reliance mutual fund.
All most investor(Existing/New) are aware with the name of Reliance mutual fund but do notin detail about which are the Reliance mutual fund schemes, their advantages, area of
investment.
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Chapter 8
Limitations
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Limitations
Every work has its own limitation. Limitations of this project are:-
1. Duration of Project was short which might have had a bearing on the conclusion. TimeConstraint has been a hindrance.
2. The Sample Size of 100 units may not represent the large population of investors, optimallyand the same would have effected of the findings to some extend.
3. Sometimes people give their opinion under some influences; as a result accuracy of thesestudies is decreasing.
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Chapter 9
Expected contribution from study
Recommendation & suggestion
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RECOMMENDATION & SUGGESTION
Though the awareness of the company as a whole is very strong in the market, it has beenobserved that the market lacks the awareness about the individual schemes offered by RMF.
Accordingly it is recommended to promote the individual schemes more aggressively through
the following
(I) Advertisement in Newspaper and Magazines.
(II) Hoardings etc.
The prospective clients may be imparted training and education through :-(I) Seminar.
(II) Short Duration training programmers.
Small towns may be targeted for business development as this area is untapped relatively andthere exist huge potential for business development
Company has to put effort in advertising and promotion activityparticularly scheme wise sothat people are more aware with reliance mutual fund as a scheme wise.
Reliance mutual fund shall improve their after sale services.
Company has to obtain feedback from their existing investor so can they better know whatthe exactly clients required.
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QUESTIONAIRE
1. Name: - 2. Sex:- Male Female3. Age: -
1. WHAT PERCENTAGE OF INCOME DO YOU INVEST?
OVER 50% 30% TO 50% 10% TO 30% Below 10%
2. WHAT IS YOUR PERCEPTION ABOUT MUTUAL FUNDS?
Safe Risky Others
3. HOW DO YOU SELECT A MUTUAL FUND COMPANYS?
Brand Name Good Service High Yield Advertisement Any Other Reason...........................................
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4. ARE YOU AWARE OF RELIANCE MUTUAL FUNDS? Yes No
5. HAVE YOU INVESTED IN RELIANCE MUTUAL FUNDS? Yes No
IF NO THAN,
6-A) WHY DO YOU THNK THAT RELAINCE MUTAUL FUND IS NOT
PREFERABLE THAN OTHER COMPARATIVE MUTUAL FUND?
High Risk Involved as Returns Are Not Assured. NAV is not Increasing (Growth of the scheme is law) Any Other Reason Please Specify
IF YES THAN,
6-B) WHAT ARE DIFFERENT TYPES OF RELLIANCE MUTUAL FUNDS schemes
ARE YOU AWARE OF?
Growth schemes.(provide appreciation of capital over medium to long term) Income schemes.(provide regular and continuous income to investor) Balance schemes.(provide both growth and income) Money market and Liquid Schemes.(provide easy liquidy preservation of capital and
moderate income).
Tax saving schemes.(offer tax rebates under tax laws) Guilt funds(generating returns by investing in securities created and issued by a central
Gov. or state Gov.)
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7. WHICH OF THEM DO YOU PREFER the MOST? Growth schemes Income schemes Balance schemes Money Market and Liquid schemes Tax saving schemes Guilt Funds
8. DO YOU GET THE DESIRED RETURN FROM THE REALINCE MUTAUL FUNDSCHEMES?
GOOD MEDIUM LOW
9. HOW MANY SERVICES DO YOU REALLY GET FROM THE REALINCEMUTAUL FUND?
Current NAV of Scheme Query Solution Switching Any Time Money Online & Offline services(Email & mobile Messages) Brokerage Charges Key Information Memorandum(KIM)/Offer document Quarterly / Yearly annual reports (Performance Booklet) Delivery of Cheque (Redemption) Auto Debit On Time Free Insurance
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10.DO YOU FEEL SATISFIED WITH SERVICES PROVIDED BYRELIANCE MUTAUL FUND AFTER SEEING THE ABOVE INFORMATION?
Highly satisfied Satisfied Somewhat satisfied Unsatisfied Highly unsatisfied
11.HOW DO YOU PERCIEVE RELIANCE MUTAUL FUND COMPANYS? Professional Management Liquidity Good Return Capital Appreciation Tax Benefit Diversification Safety Flexibility
12.WOULD YOU CONSIDER AVAILING THE FINANCIAL CONSULTANCYOFFERED BY RELIANCE MUTUAL FUND LTD?
YES NO
13.HAVE YOU EVER FILLED THE CUSTOMER FEEDBACK FORM FROMREALINACE CAPITAL ASSET MANAGEMENT COMPANY?
YES NO
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FAQs ON MUTUAL FUNDS
A.) Are the mutual fund investments I buy from a bank or savingsinstitution insured?
ANS. These investments are not like insured deposits. They are not guaranteed by the FDIC,
they are not guaranteed by the bank or savings institution, and they are not guaranteed by the
U.S. government. You are not protected against losses on the amount you invest.
B.) Are there risks in investing in mutual funds or annuities?ANS. Yes. You may get more or less back than the original amount you invested. There may
also be sales charges for these investments. The sales representative should thoroughly brief
you to make sure you understand these risks and charges, and you should be asked to sign an
acknowledgement form verifying that you have received the information and understand it.
C.) Who can sell me these products?ANS. Only properly trained sales personnel can sell these products. Tellers may not sell or
provide advice to you on these products. They can refer you to the sales desk for these services.
D.) How can I be sure I am investing in the right mutual fund orannuity?
ANS. A sales representative should ask you questions about how much risk you are willing to
accept, your investment objectives and your financial resources and background.
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Chapter - 10
APPENDIX
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Bibliography
1. www.njindiainvest.com
2. http://mutualfunds.about.com
6. www.amfiindia.com
7. www.economictimes.com
8. Mutual Funds-ICMR book of readings
9. Fact Sheet of various Mutual Funds.
10. ICMR Text Book
11.Dalal Street Journals Stock Market Book
12. www.karvymfs.com
13. www.reliancemutualfund.com
14.Gujarat Samachar (News Paper)
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