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RESEARCH PROJECT on mutual fund
industry
Fund Managers
Aparna Kumar 08 Madhurima Gupta 30Yash Jejani 34Namrata Joshi 36Bhagyashree Kedia 39 Richa Khaneja 42 Heera Lenka 47
OBJECTIVE• To get insight knowledge about Mutual Funds• To know the mutual fund performance in the
present markets• To analyze the comparative study between other
leading mutual funds in the present markets• To know the awareness of mutual funds among
different groups of investors• To evaluate consumer feedback on Mutual Funds.
Financial markets
Commodity markets
Capital markets
Security markets
Primary /New issue
market
Secondary market
Long term loans /bonds
Money markets
Forex market
Introduction
What is a mutual fund?
• A mutual fund is a professionally managed type of collective investment scheme
• That pools money from many investors
• To buy stocks, bonds, shortterm money market instruments, and other securities.
Functioning of mutual fund
CURRENT SCENARIO
• INDIA - one of the fastest growing markets.• Major factor contributing to the success is
the booming stock market with optimistic economy.
• An other factor is the favorable regime enforced by SEBI.
• It is growing despite global crisis (2008)• AUM has grown from Rs 3 lakh crore in Sept
06 to Rs 7 lakh crore in Sept 11.
Current scenario
• Above 34 players and more than 1150 schemes.
• Heavy outflows triggered by market volatility.• Partnering of AMC’s with banks to increase the
strength of distribution networks.• A sharp fall in investment in equity based
funds.• Huge outflow of funds around 40 % of retail
investors exited from equity funds.
CURRENT SCENARIO
• While Traditional products dominate in India, new products like Exchange Traded Funds (ETFs), Gold ETFs, Capital Protection and Overseas Funds have been gaining popularity.
• Systematic Investment Plan (SIP) has emerged as a suitable solution in this case, with a fixed amount invested at regular intervals, and most importantly being low risk.
• Emergence of FMPs.
Share of Mutual Funds in Households’ Gross Financial
Savings in India
Composition of Households’ Gross Financial Savings in
India in FY 2011
CUSTOMERS
Industry Investor Mix
PRODUCT FOLIOS
% Share in AUM
17.90
11.48%
8.34
6.01
5.21
3.91
3.77
Strengths
1)Liquidity2)Transparancy 3)Affordability4)Diversification5)Government support by
way of tax concessions 6)Volatility of bank
interest
WEAKNESS
1)Poor participation of retail investors
2)Distribution is confined only to metro cities
3) Cost pressures4) Lack of financial literacy
OPPORTUNITIES
1)Huge untapped market.2)High level of savings
among people.3)Using on online mode of
trading system.4)Fund houses should
emphasize on off shore segment.
threats
1)Increasing competition.2)High level of volatility in
stock market.3)Possibility of more
stringent regulations by SEBI, RBI, AMFI in future.
Big Players
Name of the CompaniesReliance Birla Sunlife
State bank of India(SBI) HSBC
Tata Edelweiss
HDFC JP Morgan
ABN Amro Kotak Mahindra bank
AIG JM financial
Bank of Baroda Goldman Sachs
Canara bank UTI(Unit Trust of India)
ICICI Standard Chartard
DBS Cholamandalam AMC
Fidelity
DSP Merrill lynch Franklin Templeton
Top Performing Schemes
Large Cap
Fidelity Equity Fund Franklin India Blue
Chip ICICI Pru Focused
Blue Chip Equity UTI opportuanities
Fund
Mid and Small Cap
Birla Sun Life MNC fund
HDFC mid cap IDFC premier
equity SBI Magnum
Emerging business
Analysis of some top performing MF’s
Investment type = General Equity Fund Category = Large Cap Fund Type = Open Ended Asset Size = 4261.77 cr Minimum investment = Rs. 5000 Exit Load = 1 % Crisil Rank = 1 Fund Manager = Anand Radhakrishnan
Franklin India Blue-chip Fund
Sector Wise AllocationSector % -- 1-Year --
High Low
Banking/
Finance17.25 19.83 17.12
Technology 13.70 13.70 8.42
Oil & Gas 11.12 13.10 9.63
Telecom 9.76 11.25 9.04
Utilities 8.50 8.55 6.56
Pharmaceutical
7.17 7.17 3.15
Asset Allocation (%) (Dec 30, 11)
Equity 93.28
Others 0.00
Debt 0.03
Mutual Funds N.A
Money Market 0.00
Cash / Call 6.69
Investment type = General Equity Fund Category = Large Cap Fund Type = Open Ended Asset Size = 3,370.77 crs. Minimum Investment = Rs.5000 Exit Load = 1% Crisil Rank = Rank 1 Fund mamager = Sandeep Kothari /
Subramanian Balakrishnan
Fidelity Equity Fund
Asset Allocation (%) (Oct 31, 11)
Equity 89.90
Others 0.71
Debt 0.00
Mutual Funds 0.86
Money Market 0.00
Cash / Call 8.53
Asset Allocation
Customer friendly Researched Fund Possibilities Should help the buyers with investment
and taxation basics of mutual funds Should have a BMO investment
professional to guide which scheme to be selected
Should be well balanced Should yeild good returns
Essentials for a good scheme
The Top 5
Inception Date – June 30th 2000
Trustee – HDFC Trustee Company Ltd.
Top Performing Schemes – AUM as on 30th April 11
+ HDFC Top 200 (2338 cr) + HDFC Equity (2759.30 cr) + HDFC MIP Long-term (887.90 cr)
1. HDFC Mutual Fund
Inception Date – June 30th 1995
Trustee – Tata Trustee Company Pvt. Ltd.
Top Performing Schemes – AUM as on 30th April 11
+ Tata Pure Equity (269.95 cr) + Tata Index Nifty (6.77 cr) + Tata Short-term Bond (292.08 cr)
2.Tata Mutual Fund
Inception Date – June 29th 1987
Trustee – SBI Mutual Fund Trustee Company Pvt. Ltd.
Top Performing Schemes – AUM as on 30th April 11
+ Magnum Contra (1,958.50 cr) + Magnum Balanced (333.11 cr) + Magnum Multiplier Plus (687.15 cr)
3. SBI Mutual Fund
Inception Date - June 30th 1995
Trustee – Reliance Capital Trustee Company Ltd.
Top Performing Schemes – AUM as on 30th April 11
+ Reliance MIP (168.52 cr) + Reliance Banking Retail (681.25 cr) + Reliance Diversified Power Sector Fund (3809.57 cr)
4. Reliance Mutual Fund
Inception Date – December 16th 1996
Trustee – DSP Merrill Lynch Trustee Company Pvt. Ltd.
Top Performing Schemes – AUM as on 30th April 11
+ DSPBR top 100 Equity (1167.08 cr) + DSPBR Equity (919.77 cr) + DSPBR GSF Longer Duration (425.67 cr)
5. DSP BlackRock Mutual Fund
PRIMARY DATA
Research design:The Research Design used here is Descriptive
Research DesignPrimary data collected through Personal
Interviews and QuestionnaireSecondary data collected through Internet
and Web Search
QUESTIONNAIRE1)Of the following what at present are your investment needs:• To build a corpus for retirement• To save for children education/marriage• To provide for medical emergencies• To provide for family financial security• To create wealth• All of the above
2)Which of the following you think as investment for tax-saving?• Mutual funds• Fixed Deposit• Insurance• PPF• All of the above
3) If you had Rs.1000, where you prefer to invest?• Mutual Fund• Fixed Deposit• Direct Equity• Life Insurance• Postal Office Deposit4) Do you think Mutual Funds are a risky Investment Option?• Yes• No5) On whose advise do you select a Mutual Fund Scheme?• Personal Decision• Financial Planner’s advise• Broker’s Advice • Friends & Family• Media
OCCUPATION
0
5
10
15
20
25
30
EMPLOYEE STUDENTS BUSINESS OTHERS
OCCUPATION
INVESTMENT NEEDS
Investment Needs
To build a Corpus for Retirement
To save for Children Education/Marriage
To provide for medical emergencies
To create wealth
All of above
TAX SAVINGS SCHEME
0
5
10
15
20
25
30
35
MUTUAL FUNDS
FIXED DEPOSITS
INSURANCE PPF
TAX SAVINGS SCHEME
RISKY v/s NON-RISKY
RESPONSE
RISKY
NON-RISKY27
23
MUTUAL FUND SELECTION
Fianancial PlanerBroker's adviseFriends & Fam-ilyMediaPersonal De-cision
11
9 4
5 21
SCOPE OF MUTUAL FUNDS
• Rising Disposable Income and Savings.• Investment in Banks are no longer attractive.• Increase in number of educated white collar
employees.• Foreign based asset management companies
are entering India.• SEBI has allowed introduction of Commodity
Mutual Funds.
Contd…• Mutual Funds industry is penetrating into rural & semi
urban areas.• Growth Rate of MF was 100% in the last 6 yrs & is
expected to grow even more.• It has been predicted that by March-end of 2012, the
MF Industry of India will reach Rs 99,90,000 crore, taking into account the total assets of the Indian commercial banks .
• Product innovation• Distribution channel innovation• Quality Financial Planning
• KPMG in India is of the view that the Indian mutual fund industry may grow at the rate of 22 to 25 percent in the period from 2010 to 2015.
• AUMs will grow at 15% to 25% between 2010-2015.
CONCLUSION
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