Uti Mcom Project

7/23/2019 Uti Mcom Project

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S.K SOMAIYA COLLEGE OF ARTS, SCIENCE & COMMERCE

VIDYAVIHAR (EAST), MUMBAI - 400077

PROECT ON!

"STUDY OF MUTUAL FUNDS IN INDIA #ITH REFERENCE TO UTI LTD.$

MASTERS OF COMMERCE

(BANKING & FINANCE)

PART % (SEM)

(0%'-0%)

S*+/!

I P1213 F333+ 5 6 22+8

F52 6 A912/ 5 6 D:2 5

MASTERS OF COMMERCE

( BANKING & FINANCE )

BY

KUNAL M SHAH

ROLL NO ! 44

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DECLARATION

I KUNAL M SHAH student of class M;5+

(BANKING & FINANCE) PART % (SEM-%), ROLL NO. 44, academic year

0%'-0%Studying at S.K. SOMAIYA COLLEGE OF ARTS, SCIENCE AND

COMMERCE, hereby declare that the work done on the project Entitled

STUDY OF MUTUAL FUNDS IN INDIA #ITH REFERENCE TO UTI

LTD.$ is true and original and any Reference used in this project is duly

acknowledged.

DATE!

PLACE: MM!"#

SIGNATURE OF STUDENT

( KUNAL M SHAH )

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CERTIFICATE

$his is to certify that MISS KUNAL SHAH, studying in M;5+ (BANKING &

FINANCE) PART % (SEM-%), ROLL NO. 44, academic year 0%'-0% at

S.K.SOMAIYA COLLEGE OF ARTS, SCIENCE & COMMERCE has

completed the project on < STUDY OF MUTUAL FUNDS IN INDIA #ITH

REFERENCE TO UTI LTD.=under the guidance of P25. BOSCO PETER

$he information submitted herein is true and original to the best of my

knowledge.

%%%%%%%%%%%%%%%%%%%% %%%%%%%%%%%%%%%%%%%

P25. BOSCO PETER DR. SANGEETA KOHLI

>PROECT GUIDE? >PRINCIPAL?

%%%%%%%%%%%%%%%%%%%% %%%%%%%%%%%%%%%%%%%

E@TERNAL E@AMINER MR. RAVIKANT

>CO-ORDINATOR?

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DECLARATION BY GUIDE

#, the undersigned &rof. has guided MISS KUNAL SHAH R'(( )'. 44 for

her project. She has completed the project on STUDY OF MUTUAL FUNDS IN

INDIA #ITH REFERENCE TO UTI LTD. successfully.

#, hereby declare that information pro*ided in this project is true as per the

best of my knowledge.

Thank You,

Yours Faithfully,

(Prof.

________)

Project

Guide

ACKNO#LEDGEMENT

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#t gi*es me immense pleasure to present a project on +STUDY OF MUTUAL

FUNDS IN INDIA #ITH REFERENCE TO UTI LTD. "s a Mcom student it

is a great honour to undergo a project work at an graduate le*el and # would like to

thank the ni*ersity of Mumbai for gi*ing me such a golden opportunity.

# am eternally grateful to almighty god for gi*ing me the spirit to put in my best

effort towards my project. # owe my sincere gratitude to DR. SANGEETA

KOHLI, the principal of our college. # am also thankful to my project guide MR.

BOSCO PETER for his *aluable guidance and for pro*iding an insight to the

subject.

# am also obliged to the library staff of S.-..Somaiya ollege for the numerous

books made me a*ailable for the handy reference.

"lthough, # ha*e taken e*ery care to check mistake and misprint yet it is difficult

to claim perfection. "ny error, omission and suggestion brought to my notice, will

be thankfully acknowledged by me.

INDEX

SR

NO. CHAPTER NAME

PAGE

NO.

% M13 F/-A I25/;5 7-%

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/./ #ntroduction 0

/.1 !enefits of Mutual 2und /3

/.4 (imitations of Mutual 2und //

/.5 Rights of nit 6olders /4

T8 5 M13 F/8 %4-%

I8+ S21:8 5 M13 F/ %-

4./ #n*estment Strategies 13

4.1 Risk Return "nalysis 13

4.4 Mutual 2und "sset $ype 1/

4.5 7orking of Mutual 2und 11

4 O2:181513 S2;2 & R:315 5 M13 F/ -0

5./ 'rganisational Structure of Mutual 2und 15

5.1 Regulations of Mutual 2und 18

5.4 &layers of Mutual 2und 43

' UTI - U T28 5 I/1 %-40

C5;385 4%

B*35:216 4

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1. MUTUAL FUND AN

INTRDU!TIN

%.% INTRODUCTION

Mutual fund is a trust that pools the sa*ings of a number of in*estors who share a common

financial goal. $his pool of money is in*ested in accordance with a stated objecti*e. $he joint

ownership of the fund is thus Mutual9, i.e. the fund belongs to all in*estors. $he money thus

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collected is then in*ested in capital market instruments such as shares, debentures and other

securities. $he income earned through these in*estments and the capital appreciations realied

are shared by its unit holders in proportion the number of units owned by them. $hus a Mutual

2und is the most suitable in*estment for the common man as it offers an opportunity to in*est in

a di*ersified, professionally managed basket of securities at a relati*ely low cost. " Mutual 2und

is an in*estment tool that allows small in*estors access to a well;di*ersified portfolio of e? is determined each day.

#n*estments in securities are spread across a wide cross;section of industries and sectors and

thus the risk is reduced. @i*ersification reduces the risk because all stocks may not mo*e in the

same direction in the same proportion at the same time. Mutual fund issues units to the in*estors

in accordance with


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7hen an in*estor subscribes for the units of a mutual fund, he becomes part owner of the assets

of the fund in the same proportion as his contribution amount put up with the corpus =the total

amount of the fund?. Mutual 2und in*estor is also known as a mutual fund shareholder or a unit

holder.

"ny change in the *alue of the in*estments made into capital market instruments =such as shares,

debentures etc? is reflected in the )et "sset >alue =)">? of the scheme. )"> is defined as the

market *alue of the Mutual 2und schemeCs assets net of its liabilities. )"> of a scheme is

calculated by di*iding the market *alue of schemeCs assets by the total number of units issued to

the in*estors.

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%. B8 5 8: M13 F/8!

$here are se*eral benefits from in*esting in a Mutual 2und:

S+133 8+8! Mutual funds help you to reap the benefit of returns by a portfolio

spread across a wide spectrum of companies with small in*estments.

P2588513 F/ M11:+! &rofessionals ha*ing considerable eBpertise,

eBperience and resources manage the pool of money collected by a mutual fund. $hey

thoroughly analyse the markets and economy to pick good in*estment opportunities.

S21/: R8! "n in*estor with limited funds might be able to in*est in only one or

two stocksDbonds, thus increasing his or her risk. 6owe*er, a mutual fund will spread its

risk by in*esting a number of sound stocks or bonds. " fund normally in*ests in

companies across a wide range of industries, so the risk is di*ersified.

T21812;! Mutual 2unds regularly pro*ide in*estors with information on the *alue

of their in*estments. Mutual 2unds also pro*ide complete portfolio disclosure of the

in*estments made by *arious schemes and also the proportion in*ested in each asset type.

C65;! $he large amount of Mutual 2unds offer the in*estor a wide *ariety to choose

from. "n in*estor can pick up a scheme depending upon his riskD return profile.

R:3158! "ll the mutual funds are registered with SE!# and they function within the

pro*isions of strict regulation designed to protect the interests of the in*estor.

F3*3! $hrough features such as Systematic #n*estment &lans =S#&?, Systematic

7ithdrawal &lans =S7&? and di*idend rein*estment plans, you can systematically in*estor withdraw funds according to your needs and con*enience.

R2 P513! '*er a medium to long term, Mutual 2unds ha*e the potential to

pro*ide a higher return as they in*est in a di*ersified basket of selected securities.

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D28;15!Mutual 2unds in*est in a number of companies across a broad cross

section of industries and sectors. $his di*ersification reduces the risk because seldom do

all stocks decline at the same time and in the same proportion. ou achie*e this

di*ersification through a Mutual 2und with far less money than you can do on your own.

%. L+15 5 M13 F/!

E2 1/ ;588! Mutual 2unds are a *ictim of their own success. 7hen a large

body like a fund in*ests in shares, the concentrated buying or selling often results in

ad*erse price mo*ements i.e. at the time of buying, the fund ends up paying a higher

price and while selling it realies a lower price. 2or ob*ious reasons, this problem is

e*en more se*ere for funds in*esting in small capitaliation stocks. 6owe*er, gi*en the

large sie of the debt market, eBcluding $#, most debt funds do not face this problem.

#1: + *52 8+! #t takes time for a Mutual 2und to in*est money.

Since it is difficult to in*est all funds in one day, there is dome money waiting to be

in*ested. 2urther, there may be a time lag before in*estment opportunities are identified.

$his ensures that the fund under performs the indeB. 2or open;ended funds, there is the

added problem of perpetually keeping some money in li


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P2588513 M11:+; Some funds doesnt perform in neither the market, as their

management is not dynamic enough to eBplore the a*ailable opportunity in the market,

thus many in*estors debate o*er whether or not the so;called professionals are any better

than mutual fund or in*estor himself, for picking up stocks.

C588G $he biggest source of "M income, is generally from the entry A eBit load

which they charge from an in*estors, at the time of purchase. $he mutual fund industries

are thus charging eBtra cost under layers of jargon.

D35 ; !ecause funds ha*e small holdings across different companies, high returns

from a few in*estments often donCt make much difference on the o*erall return. @ilution

is also the result of a successful fund getting too big. 7hen money pours into funds that

ha*e had strong success, the manager often has trouble finding a good in*estment for allthe new money.

T18; when making decisions about your money, fund managers donCt consider your

personal taB situation. 2or eBample, when a fund manager sells a security, a capital;gain

taB is triggered, which affects how profitable the indi*idual is from the sale. #t might

ha*e been more ad*antageous for the indi*idual to defer the capital gains liability.

%.4 R:68 5 U 653/28!

"s a unitholder in a Mutual 2und scheme coming under the SE!# =Mutual 2unds? Regulations,

you are entitled to:

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Recei*e unit certificates or statements of accounts confirming your title within 43 days

from the date of closure of the subscription under open;ended schemes or within 8 weeks

from the date your reote in accordance with the Regulations to:

hange the "sset Management ompany.

7ind up the schemes.

Recei*e communication from the $rustees about change in the fundamental attributes of

any scheme or any other changes which would modify the scheme and affect the interest

of the unitholders and to ha*e option to eBit at pre*ailing )et "sset >alue without any

eBit load in such cases.

#nspect the documents of the Mutual 2unds specified in the schemes offer document.

#n addition to your rights, you can eBpect the following from Mutual 2unds:

$o publish their )">, in accordance with the regulations: daily, in case of open;ended

schemes and once a week, in case of close;ended schemes.

$o disclose your schemes entire portfolio twice a year, unaudited financial results half

yearly and audited annual accounts once a year. #n addition many mutual funds send out

newsletters periodically.

$o adhere to a ode of Ethics which re


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.TYPES OF MUTUAL FUNDS

TYPES OF MUTUAL FUNDS

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Mutual funds can be classified as follow:

BASED ON THEIR STRUCTURE !

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O-// /8: #n*estors can buy and sell the units from the fund, at any point of

time.

C358-// /8: $hese funds raise money from in*estors only once. $herefore, after

the offer period, fresh in*estments can not be made into the fund. #f the fund is listed on a

stocks eBchange the units can be traded like stocks =E.g., Morgan Stanley Hrowth 2und?.

Recently, most of the )ew 2und 'ffers of close;ended funds pro*ided li


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) S;52 /8; #n*est /33F of the capital in a specific sector. e.g. ; " banking sector

fund will in*est in banking stocks.

)ELSS-E


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money markets. 6igher proportion =around KIF? is put in money markets, in the absence of

arbitrage opportunities.

) G3 /8 ; $hey in*est /33F of their portfolio in long;term go*ernment securities.

)I;5+ /8 -$ypically, such funds in*est a major portion of the portfolio in long;term

debt papers.

)MIP8-Monthly #ncome &lans ha*e an eBposure of K3F;L3F to debt and an eBposure of

/3F;43F to e


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. INVESTMENT STRATEGIES

.% INVESTMENT STRATEGY

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%. S8+1; I8+ P31! under this a fiBed sum is in*ested each month on a fiBed date of

a month. &ayment is made through post dated che is low. $his is called as the

benefit of Rupee ost "*eraging =R"?

. S8+1; T2182 P31! under this an in*estor in*est in debt oriented fund and gi*e

instructions to transfer a fiBed sum, at a fiBed inter*al, to an e


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Worldwide Mutual Fund Assets by tye o! !und:

If we see the worldwide Mutual fund Assets by the type of fund for the third

quarter in 2008, then it is seen that the major investments were in equities

i.e. 40 of the total investments.

Worldwide Mutual Fund Assets by "e#ion:

!y re"ion, ## per$ent of worldwide assets were in the Ameri$as in the third

quarter of 2008, %4 per$ent were in &urope and '' per$ent in Afri$a and

Asia()a$ifi$.

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.4 #ORKING OF MUTUALFUND !

" mutual fund is just the connecting bridge or a financial intermediary that allows a

group of in*estors to pool their money together with a predetermined in*estment objecti*e. $he

mutual fund will ha*e a fund manager who is responsible for in*esting the gathered money intospecific securities =stocks or bonds?. 7hen you in*est in a mutual fund, you are buying units or

portions of the mutual fund and thus on in*esting becomes a shareholder or unit holder of the

fund.

Mutual funds are considered as one of the best a*ailable in*estments as compare to others

they are *ery cost efficient and also easy to in*est in, thus by pooling money together in a mutual

fund, in*estors can purchase stocks or bonds with much lower trading costs than if they tried to

do it on their own. !ut the biggest ad*antage to mutual funds is di*ersification, by minimiing

risk A maBimiing returns.

$hus a Mutual 2und is the most suitable in*estment for the common man as it offers an

opportunity to in*est in a di*ersified, professionally managed basket of securities at a relati*ely

low cost. $he flow chart below describes broadly the working of a mutual fund

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4. ORGANISATIONAL STRUCURE

AND REGULATIONS OF MUTUAL

FUNDS

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4.% ORGANISATIONAL STRUCURE OF MUTUAL FUNDS !

$he Mutual fund organiation as per the SE!# formation and necessary formation is needed for

sooth acti*ities of the companies and achie*ed the desire objecti*es.$ransfer agent and custodianplay role for dematerialiation of the fund and unit holders hold the account statement, but

custody of the unit is on particular "sset Management ompany. ustodian holds all the fund

units on dematerialiation form. Sponsor had decided the responsibility of custodian when

in*estor to purchase the fund and to sell the unit. "pplication forms, transaction slip and other

re


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TRUST

$he Mutual 2und is constituted as a trust in accordance with the pro*isions of the #ndian $rusts

"ct, /001 by the Sponsor. $he trust deed is registered under the #ndian Registration "ct, /L30.

TRUSTEE

$rustee is usually a company =corporate body? or a !oard of $rustees =body of indi*iduals?. $he

main responsibility of the $rustee is to safeguard the interest of the unit holders and ensure that

the "M functions in the interest of in*estors and in accordance with the Securities and

EBchange !oard of #ndia =Mutual 2unds? Regulations, /LL8, the pro*isions of the $rust @eed

and the 'ffer @ocuments of the respecti*e Schemes. "t least 1D4rd directors of the $rustee are

independent directors who are not associated with the Sponsor in any manner.

ASSET MANAGEMENT COMPANY (AMC)

$he "M is appointed by the $rustee as the #n*estment Manager of the Mutual 2und. $he "M

is re


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4. REGULATION OF MUTUAL FUNDS !

R53 5 SEBI

(S;28 ;61: *512/ 5 I/1)

$here was no uniform regulation of the mutual funds industry till a few years ago. $he $# was

regulated by a special "ct of &arliament while funds promoted by public sector banks were

subject to R!# Huidelines of uly /L0L. $he Securities A EBchange !oard of #ndia =SE!#? was

formed in /LL4 as a capital market regulator. 'ne of its responsibilities was to regulate the

mutual fund industry and it came up with comprehensi*e regulations for the industry in /LL4.

$he rules for the formation, administration and management of mutual funds in #ndia were

clearly laid down. Regulations also prescribed disclosure re


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@epending on the particular objecti*e of scheme, it may open for further sale and repurchase of

units, again in accordance with the particular of the scheme, the scheme may be wound up after

the particular time period.

/. $he sponsor has to register the mutual fund with SE!#

1. $o be eligible to be a sponsor, the body corporate should ha*e a sound track record and a

general reputation of fairness and integrity in all his business transactions.

Role of AMFI(Association Mutual Fund in India)

"M2#, the apeB body of all the registered asset management companies was incorporated on

"ugust 11, /LLI as a nonprofit organiation. "ll the asset management companies that ha*e

launched mutual fund schemes are its members. 'ne of the objecti*es of "M2# is to promote

in*estorsC interest by defining and maintaining high ethical and professional standards in the

mutual fund industry. $he "M2# code of ethics sets out the standards of good practices to be

followed by the asset management companies in their operations and in their dealings with

in*estors, intermediaries and public. "M2# code has been drawn up to encourage adherence

to standards higher than those prescribed by the regulations for the benefits of in*estors in

the mutual fund industry.

$he members of "sset Management ompanies ="M? ha*e always carried out the

responsibility of introducing new mutual fund schemes under the go*ernance and guidelinesof its !oard of @irectors. "ssociation of Mutual 2unds in #ndia has played a significant role

in creating a healthy and professional market for mutual funds. #t has ele*ated the standard of

the mutual fund in*estment patterns by introducing more beneficiary schemes to attract more

in*estors. $he "ssociation of Mutual 2unds is also the main go*erning body of all "sset

Management ompanies ="M?. $he "ssociation of Mutual 2unds in #ndia ="M2#? has

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been registered with the Securities and EBchange !oard of #ndia =SE!#?. $he main principle

religiously followed by "M2# is to protect and promote the mutual funds along with the

in*estors or shareholders.

T6 A885;15 5 M13 F/8 I/1 ="M2#? is dedicated to de*eloping the #ndian

Mutual 2und #ndustry on professional, healthy and ethical lines and to enhance and maintain

standards in all areas with a *iew to protecting and promoting the interests of mutual funds and

their unit holders.

"M2# working group on !est &ractices for sales and marketing of Mutual 2unds under the

hairmanship of Shri !. H. @aga, 2ormer EBecuti*e @irector of nit $rust of #ndia with Shri

>i*ek Reddy of &ioneer #$#, Shri "lok >ajpeyi of @S& Merrill (ynch, Shri )ikhil -hattau of

Sun 2 A and Shri handrashekhar Sathe, 2ormerly of -otak Mahindra Mutual 2und has

suggested formulation of guidelines and code of conduct for intermediaries and this work has

been ably done by a sub;group consisting of Shri !. H. @aga and Shri >i*ek Reddy.

O*J;8 5 AMFI!

$o define and maintain high professional and ethical standards in all areas of operation of

mutual fund industry.

$o recommend and promote best business practices and code of conduct to be followed

by members and others engaged in the acti*ities of mutual fund and asset management including

agencies connected or in*ol*ed in the field of capital markets and financial ser*ices.

$o interact with the Securities and EBchange !oard of #ndia =SE!#? and to represent to

SE!# on all matters concerning the mutual fund industry.

$o represent to the Ho*ernment, Reser*e !ank of #ndia and other bodies on all matters

relating to the Mutual 2und #ndustry.

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$o de*elop a cadre of well trained "gent distributors and to implement a programme of

training and certification for all intermediaries and others engaged in the industry.

$o undertake nation wide in*estor awareness programme so as to promote proper

understanding of the concept and working of mutual funds.

$o disseminate information on Mutual 2und #ndustry and to undertake studies and

research directly andDor in association with other bodies.

$o take regulate conduct of distributors including disciplinary actions =cancellation of

"R)? for *iolations of ode of onduct.

$o protect the interest of in*estorsDunit holders.

#mportant aspects of "M2#:

"M2# pro*ides professionalism and a proper balance in the mutual fund /82.

#t promotes the highly;efficient *888 21;;8as well as the code of conduct in

the mutual fund industry among its members and those who are in*ol*ed in mutual/

8+8.

"M2# is registered with SE!# and follows its suggestions while eBecuting its

acti*ities.

"M2# also represents the G52+ 5 I/1, the Reser*e !ank of #ndia and other

related higher authority bodies in the mutual fund operations.

#t also pro*ides 21: 25:21+8to hone the skills of those who are in*ol*ed in

mutual fund in*estments and also de*elops a team of efficient and skilled agents.

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"M2# also carries out *arious ;1+1:8and awareness programs to inform the

indi*iduals about the *18; ;5;of mutual fund in*estments.

4. PLAYERS OF MUTUAL FUND:

F/ M11:28

2und managers, assigned by management company, are responsible for making in*estment in

accordance with the mutual funds objecti*e and in*estment policy specified in the constituti*edocuments. 2und managers are re


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"ssigned by the management company or customer, a custodian is responsible for holding in

safe;keeping, administering the mo*ement of, registering and carrying out in*entory control to

assure the accuracy for the fund assets. #n addition, custodian shall collect information on income

from such assets and prepare a report for the management company. ustodian shall be fit A

proper9 and appro*ed by the SE.

'. UNIT TRUST OF INDIA

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UNIT TRUST OF INDIA MUTUAL FUND

U T28 5 I/1 was created by the $# "ct passed by the &arliament in /L84. 2or

more than two decades it remained the sole *ehicle for in*estment in the capital market by the

#ndian citiens. #n mid;/L03Cs public sector banks were allowed to open mutual funds. $he real

*ibrancy and competition in the M2 industry came with the setting up of the Regular SE!# and

its laying down the M2 Regulations in /LL4. $# maintained its pre;eminent place till 133/,

when a massi*e decline in the market indices and negati*e in*estor sentiments after -etan

&arekh scam created doubts about the capacity of $# to meet its obligations to the in*estors.

$his was further compounded by two factorsJ namely, its flagship and largest scheme S 85 was

sold and re;purchased not at intrinsic )"> but at artificial price and its "ssured Return Schemes

had promised returns as high as /0F o*er a period going up to two decades.

#n order to distance Ho*ernment from running a mutual fund the ownership was

transferred to four institutionsJ namely S!#, (#, !'! and &)!, each owning 1IF. $# lost its

market dominance rapidly and by end of 133I, when the new share;holders actually paid the

consideration money to Ho*ernment its market share had come down to close to /3F.

" new board was constituted and a new management inducted. Systematic study of its

problems role and functions was carried out with the help of a reputed international consultant.

'nce again $# has emerged as a serious player in the industry. Some of the funds ha*e won

famous awards, including the !est #nfra 2und globally from (ipper. $# has been able to

benchmark its employee compensation to the best in the market.

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!esides running domestic M2 Schemes $# "M is also a registered portfolio manager

under the SE!# =&ortfolio Managers? Regulations.

$his company runs two successful funds with large international in*estors being acti*e

participants. $# has also launched a &ri*ate E


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$#M2 has consistently reset and upgraded transparency standards. "ll the branches,

2s and registrar offices are connected on a robust #$ network to ensure cost;effecti*e


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Fun" )anagers

'r& noo* /haskar

'r& )an"ee* (ho*ra

'r& BanCay >ongre

'r& 'anish Doshi

's& B-ati Eulkarni

's&Bhil*ita =uha

o& of s.he)es o@ere" 17 B.he)es

>istri%ution Tie;u* -ith *ost

o.es %ran.hes&

0T+ outlet an"

%ran.hes&

S*8/128

UTI V2

$# >enture is leading pri*ate e


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acti*ities of $# "M. $he "ssets under Management ="M? of $# #nternational (td stands at

S@ 8/I mn as on September 43, 1330.

UTI RSL (R2+ S5358 L+/)

$# RS( has been set up to carry out the operations as &ension 2und as directed by the !oard of

$rustees of the )ew &ension System $rust, set up under the #ndian $rust "ct, /001, and to

undertake wholesale asset management as prescribed by the Ho*ernment.

Awards

*+I M -!- Award 200/.

*+I Mutual und sweeps I-A mutual fund Award 200/.

*+I M wins the !est 1ebt und ouse Award.

3ipper und Awards0/*+I Mahila *nit# yrs.

3ipper und Awards0/*+I Mahila *nit% yrs.

3ipper und Awards 2005.

-!-+6'8!) )aribas Mutual und of the year Award 2007.

-!-+6'8!) )aribas Mutual und of the year Award 2004

I-A online Mutual und Award *+I I+9 I1&: *1 won the award for

the year 2004.

-!- India Mutual und of the 9ear Award 200%.

*+I ifty Inde; und wins ilver at I-A =nline 200#.

*+I I3 2004.

PRODUCTS OF UTI MUTUAL FUND !

nit Scheme ="n open;ended e


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$# ; Master &lus nit Scheme ="n open;ended e


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$#;Retirement !enefit &ension 2und ="n open;ended notified taB sa*ing ;cumpension

scheme?

$# ; Mahila nit scheme ="n open;ended debt oriented scheme?

$# ; & "d*antage 2und ="n open;ended scheme?

$# ; (i


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!C!C! "rudent#al Mutual Fund 155,522 16,62$ $,106 5.86

%el#an&e Mutual Fund 1,6$3 152,$1$ 8,226 5.6$

'#rla Sun (#e Mutual Fund 125,502 133,0 7,$01 6.30

*+! Mutual Fund $2,730 10,077 11,37 12.2

S'! Mutual Fund 83,6$3 88,628 ,$35 5.$0

Franl#n +emplet-n Mutual Fund 7,312 77,328 3,016 .06

!DFC Mutual Fund 5,$8 56,77 2,276 .18

-ta Ma/#ndra Mutual Fund 8,077 56,511 8,3 17.5

DS" 'la&%-& Mutual Fund 36,036 37,33$ 1,302 3.61

#s Mutual Fund 28,365 31,78$ 3,25 12.07

+ata Mutual Fund 28,05 28,857 812 2.$0

Deuts&/e Mutual Fund 20,720 25,32$ ,60$ 22.2

(+ Mutual Fund 22,213 2,280 2,067 $.31

Sundaram Mutual Fund 20,$$6 22,12 1,128 5.37

%el#are !n4es&- Mutual Fund 1$,51$ 21,5$ 2,075 10.63

JM F#nanal Mutual Fund 11,676 15,858 ,182 35.82

J"M-ran Mutual Fund 1,68 12,55 2,22$ 15.18

(!C M*% Mutual Fund 11,133 11,157 2 0.21

'ar-da "#-neer Mutual Fund 7,225 $,532 2,307 31.$3

HS'C Mutual Fund 7,880 7,83 37 0.7

Canara %-be&- Mutual Fund 7,078 7,213 135 1.$0

-ldman Sa&/s Mutual Fund 7,775 7,132 63 8.26

!D'! Mutual Fund 5,556 7,016 1,60 26.27

"%!C!"( Mutual Fund 6,7$ 6,62 1 2.23

!nd#abulls Mutual Fund 3,6$1 5,1$6 1,505 0.77

+aurus Mutual Fund ,188 ,656 68 11.18

'" "ar#bas Mutual Fund ,138 ,638 $$ 12.07

M-t#lal s9al Mutual Fund 2,7 3,$28 1,185 3.18

'! : Mutual Fund 2,332 2,881 5$ 23.5

*n#-n 'C Mutual Fund 2,675 2,672 3 0.12

M#rae sset Mutual Fund 1,$81 2,27 6 22.50

DHF( "ramer#&a Mutual Fund 2,125 2,366 21 11.33

39 | P a g e
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40/42

;del9e#ss Mutual Fund 1,18 1,573 2 36.$5

"eerless Mutual Fund 85 860 7 0.77


41/42

Mutual fund has become one of the important sources for in*esting. #t is


42/42

#*88!

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B558!

2act sheet of $# mutual fund

nderstanding Mutual 2und; Sunita "braham A ma Shashikant
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