A

PRO1ECT REPORT
On
Study on Marketing Strategies Related to Study on Marketing Strategies Related to
Mutual Fund at Karvy stock broking ltd. Mutual Fund at Karvy stock broking ltd.
A Training report submitted in the partial fulfillment of the requirement of the degree of
MBA (MASTER OF BUSINESS ADMINISTRATION)
(2013-2015)
Submitted by:
Inderjeet Kaur
MBA 3
rd
Sem
UI: !3"#$"!"%
BABA FARID COLLEGE, DEON (BATHINDA)
!
DECLARATION
(Rectify the font distortions)
I de&lare that the summer training proje&t report submitted to my &ollege BABA 'A(I
)*++A,-. In partial fulfillment for the degree of ba&helor of business administration on
/Study on Marketing Strategies Related to Mutual Fund at Karvy stock Study on Marketing Strategies Related to Mutual Fund at Karvy stock
broking ltd. broking ltd.
KA(012 is a result of my o3n 3or4 under &ontinuous guidan&e and 4ind &o5operation
of our &ollege fa&ulty member. I ha6e not submitted this training report to any other
uni6ersity for the a3ard of degree.
I7-(8--T KAU(
MBA 3
rd
S-M
UI: !3"#$"!"%
"
ACKNOWLEDGEMENT
I ha6e prepared this proje&t 3ith the help of the many persons 3or4ing in
the organi9ation. I &olle&ted primary data from the personnel department but se&ondary
and supporting data 3as pro6ided by many others. A proje&t 3or4 is ne6er the 3or4 of a
one person: rather it is a &ombination of ideas; suggestions; 6ie3s < &ontribution
in6ol6ing 6arious fol4s.
I 3ant to than4 se6eral people for their professional assistan&e. They de6oted their
pre&ious time and rendered generous support for my resear&h and 3riting. I also 3ant to
than4 all the person of the personnel department 3ho ga6e their full support in
&ompleting my proje&t. All the persons mentioned abo6e not only helped me but also
pro6ided guidan&e for &ompleting the proje&t by their 6ast e=perien&e and professional
attitude

3
TABLE OF CONTENTS
Add review of literature if u can
Sr.no
CONTENT
PAGE
NO.
1 ->-)UTI0- SUMMA(1 #
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A
EXECUTIVE SUMMARY
(why haven`t u mentioned mutual fund)
The &ommen&ement of -5Trading and emat has transformed the &apital mar4et in India.
Gith the help of emat and Trading a&&ount; buying and selling of shares has be&ome a
mu&h faster and e6en pro&ess than trading 3ith the assistan&e of physi&al bro4er. It
pro6ides for the assimilation of ban4; bro4er; sto&4 e=&hange and epository
@arti&ipants. This helps to get rid of the painsta4ing pro&edure of in6esting in sto&4
e=&hange. Today; if one 3ants to in6est in sto&4 mar4et; he has to &onta&t a bro4er on
phone or meet him personally to pla&e order. A bro4er generally gi6es su&h importan&e
and additional ser6i&e only to high net 3orth &ustomers. But the introdu&tion of internet
trading; e6en a &ommon or a small in6estor gets an opportunity to a6ail the ser6i&e at an
affordable pri&e 3hi&h is mu&h lesser than 3hat is &harged by a physi&al bro4er o6er the
phone. *nline trading has gi6en &ustomer a real time a&&ess to a&&ount information; sto&4
quotes elaborated mar4et resear&h and intera&ti6e trading. The prerequisites of internet
trading are a &omputer; a modem and a telephone &onne&tion; registration 3ith bro4er; a
ban4 a&&ount and depository a&&ount. The introdu&tion of depository ser6i&e is
&onsidered as the beginning of the trading of sto&4s H&li&4. This means that you &an
arrange deli6ery of s&rips sold anytime; any3here to anyone by &li&4 of a mouse.
emateriali9ation fa&ilities to 4eep the se&urities in ele&troni& form instead of paper
form. It offers more ad6antageous than the physi&al &ertifi&ate form. espite the
ad6antages of emateriali9ation; the a3areness le6els among the in6estors relating to
emat a&&ount is not adequate be&ause of numerous reasons.
#



CHAPTER 1
INTRODUCTION TO
COMPANY & TOPIC
$
INTRODUCTION TO THE COMPANY
KA(01 is a premier integrated finan&ial ser6i&es pro6ider; and ran4ed among the top
fi6e in the &ountry in all its business segments; ser6i&es o6er "C million indi6idual
in6estors in 6arious &apa&ities; and pro6ides in6estor ser6i&es to o6er 3CC &orporates;
&omprising the 3hoIs 3ho of )orporate India. KA(01 &o6ers the entire spe&trum of
finan&ial ser6i&es su&h as Sto&4 bro4ing; epository @arti&ipants; istribution of
finan&ial produ&ts li4e mutual funds; bonds; fi=ed deposit; Mer&hant Ban4ing <
)orporate 'inan&e; Insuran&e Bro4ing; )ommodities Bro4ing; (ealty Ser6i&es; @ersonal
'inan&e Ad6isory Ser6i&es; pla&ement of equity; I@*s; among others. Kar6y has a
professional management team and ran4s among the best in te&hnology; operations; and
more importantly; in resear&h of 6arious industrial segments.
%
HISTORY OF KARVY
The birth of Kar6y 3as on a modest s&ale in !JB!. It began 3ith the 6ision and enterprise
of a small group of pra&ti&ing )hartered A&&ountants 3ho founded the flagship &ompany
KKar6y )onsultants +imited. Ge started 3ith &onsulting and finan&ial a&&ounting
automation; and &ar6ed inroads into the field of registry and share a&&ounting by !JB#.
Sin&e then; 3e ha6e utili9ed our e=perien&e and superlati6e e=pertise to go from strength
to strengthKto better our ser6i&es; to pro6ide ne3 ones; to inno6ate; di6ersify and in the
pro&ess; e6ol6ed Kar6y as one of IndiaLs premier integrated finan&ial ser6i&e enterprise.
Thus o6er the last "C years Kar6y has tra6eled the su&&ess route; to3ards building a
reputation as an integrated finan&ial ser6i&es pro6ider; offering a 3ide spe&trum of
ser6i&es. And 3e ha6e made this journey by ta4ing the route of quality ser6i&e; path
brea4ing inno6ations in ser6i&e; 6ersatility in ser6i&e and finallyKtotality in ser6i&e.
*ur highly qualified manpo3er; &utting5edge te&hnology; &omprehensi6e infrastru&ture
and total &ustomer5fo&us has se&ured for us the position of an emerging finan&ial ser6i&es
giant enjoying the &onfiden&e and support of an en6iable &lientele a&ross di6erse fields in
the finan&ial 3orld.
*ur 6alues and 6ision of attaining total &ompeten&e in our ser6i&ing has ser6ed as the
building blo&4 for &reating a great finan&ial enterprise; 3hi&h stands solid on our
fortresses of finan&ial strength 5 our 6arious &ompanies.
Gith the e=perien&e of years of holisti& finan&ial ser6i&ing behind us and years of
&omplete e=pertise in the industry to loo4 for3ard to; 3e ha6e no3 emerged as a premier
integrated finan&ial ser6i&es pro6ider.
And today; 3e &an loo4 3ith pride at the fruits of our mastery and e=perien&e M
&omprehensi6e finan&ial ser6i&es that are &ompetently segregated to ser6i&e and manage
a di6erse range of &ustomer requirements.
B
As the flagship &ompany of the Kar6y ,roup; Kar6y
)onsultants +imited has al3ays remained at the helm of organi9ational affairs;
pioneering business poli&ies; 3or4 ethi& and &hannels of progress.
?a6ing emerged as a leader in the registry business; the first of the businesses that 3e
6entured into; 3e ha6e no3 transferred this business into a joint 6enture 3ith
)omputershare +imited of Australia; the 3orldLs largest registrar. Gith the ad6ent of
depositories in the Indian &apital mar4et and the relationships that 3e ha6e &reated in the
registry business; 3e belie6e that 3e 3ere best positioned to 6enture into this a&ti6ity as a
epository @arti&ipant. Ge 3ere one of the early entrants registered as epository
@arti&ipant 3ith 7S+ E7ational Se&urities epository +imitedF; the first epository in
the &ountry and then 3ith )S+ E)entral epository Ser6i&es +imitedF. Today; 3e
ser6i&e o6er $ la4hs &ustomer a&&ounts in this business spread a&ross o6er "#C
&itiesNto3ns in India and are ran4ed amongst the largest epository @arti&ipants in the
&ountry. Gith a gro3ing se&ondary mar4et presen&e; 3e ha6e transferred this business to
Kar6y Sto&4 Bro4ing +imited EKSB+F; our asso&iate and a member of 7S-; BS- and
?S-.
IT enabled services
J
*ur Te&hnology Ser6i&es di6ision forms the ideal platform to unleash our te&hnology
initiati6es and ma4e our presen&e felt on the Internet. *ur past a&hie6ements in&lude
many quality 3ebsites designed; de6eloped and deployed by us. Ge also possess our o3n
3eb hosting fa&ilities 3ith dedi&ated band3idth and a state5of5the5art ser6er farm Edata
&enterF 3ith ser6i&es fun&tioning on a 6ariety of operating platforms su&h as Gindo3s;
Solaris5+inu=5Uni= et&.
The &orporate 3ebsite of the &ompany; /333.4ar6y.&om2; gi6es a&&ess to in5depth
information on finan&ial matters in&luding Mutual 'unds; I@*s; 'i=ed In&ome S&hemes;
Insuran&e; Sto&4 Mar4et and mu&h more. A lin4 &alled O(esour&e )enterL; de6oted solely
to resear&h &ondu&ted by our team of e=perts on 6arious finan&ial aspe&ts li4e OSe&tor
(esear&hL; deals e=&lusi6ely 3ith in5depth analysis of the 4ey se&tors of the Indian
e&onomy. Besides; a host of other lin4s li4e OMy @ortfolioL 3hi&h a&ts as a personali9ed
and &ustomi9ed finan&ial measure; ma4es this site e=tremely informati6e about
in6estment options; mar4et trends; ne3s as also about our &ompany and ea&h of the
ser6i&es offered here.
STOCK BROKING SERVICES
!C
It is an undisputed fa&t that the sto&4 mar4et is unpredi&table and yet enjoys a high
su&&ess rate as a 3ealth management and 3ealth a&&umulation option. The differen&e
bet3een unpredi&tability and a safety an&hor in the mar4et is pro6ided by in5depth
4no3ledge of mar4et fun&tioning and &hanging trends; planning 3ith foresight and
&hoosing one<rsquo:s options 3ith &are. This is 3hat 3e pro6ide in our Sto&4 Bro4ing
ser6i&es.
Ge offer ser6i&es that are beyond just a medium for buying and selling sto&4s and shares.
Instead 3e pro6ide ser6i&es 3hi&h are multi dimensional and multi5fo&used in their
s&ope. There are se6eral ad6antages in utili9ing our Sto&4 Bro4ing ser6i&es; 3hi&h are the
reasons 3hy it is one of the best in the &ountry.
Ge offer trading on a 6ast platform: 7ational Sto&4 -=&hange; Bombay Sto&4 -=&hange
and ?yderabad Sto&4 -=&hange. More importantly; 3e ma4e trading safe to the
ma=imum possible e=tent; by a&&ounting for se6eral ris4 fa&tors and planning
a&&ordingly. Ge are assisted in this tas4 by our in5depth resear&h; &onstant feedba&4 and
sound ad6isory fa&ilities. *ur highly s4illed resear&h team; &omprising of te&hni&al
analysts as 3ell as fundamental spe&ialists; se&ure result5oriented information on mar4et
trends; mar4et analysis and mar4et predi&tions.
you more informed on the immediate trends in the sto&4 mar4et. In addition; our spe&ifi&
industry reports gi6e &omprehensi6e information on 6arious industries. Besides this; 3e
also offer spe&ial portfolio analysis pa&4ages that pro6ide daily te&hni&al ad6i&e on s&rips
for su&&essful portfolio management and pro6ide &ustomi9ed ad6isory ser6i&es to help
you ma4e the right finan&ial mo6es that are spe&ifi&ally suited to your portfolio..
To empo3er the in6estor further 3e ha6e made serious efforts to ensure that our resear&h
&alls are disseminated systemati&ally to all our sto&4 bro4ing &lients through 6arious
deli6ery &hannels li4e email; &hat; SMS; phone &alls et&.
!!
*ur foray into &ommodities bro4ing has been path brea4ing and 3e are in the pro&ess of
&on6erting e=isting traders in &ommodities into the more organi9ed mainstream of trading
in &ommodity futures; both as a trading and ris4 hedging me&hanism.
In the future; our fo&us 3ill be on the emerging businesses and to meet this obje&ti6e; 3e
ha6e enhan&ed our manpo3er and re6itali9ed our 4no3ledge base 3ith enhan&es fo&us on
'utures and *ptions as 3ell as the &ommodities business.
DEPOSITORY PARTICIPANTS
The onset of the te&hnology re6olution in finan&ial ser6i&es Industry sa3 the emergen&e
!"
of Kar6y as an ele&troni& &ustodian registered 3ith National Securities Depository Ltd
(NSDL) and Central Securities Depository Ltd (CSDL) in !JJB. Kar6y set standards
enabling further &omfort to the in6estor by promoting paperless trading a&ross the
&ountry and emerged as the top 3 Depository Participants in the &ountry in terms of
&ustomer ser6i&ed.
*ffering a 3ide trading platform 3ith a dual membership at both 7S+ and )S+; 3e
are a po3erful medium for trading and settlement of demateriali9ed shares. Ge ha6e
established li6e @Ms; Internet a&&ess to a&&ounts and an easier transa&tion pro&ess in
order to offer more &on6enien&e to indi6idual and &orporate in6estors. A team of
professional and the latest te&hnologi&al e=pertise allo&ated e=&lusi6ely to our demat
di6ision in&luding te&hnologi&al enhan&ements li4e S@--5e; ma4e our response time
qui&4 and our deli6ery impe&&able. A 3ide national net3or4 ma4es our effi&ien&ies
a&&essible to all.
!3
UTI MUTUL FUND
UTI MUTU+ 'U7:
To be the most @referred Mutual 'und.
Our mission is to make UTI Mutual Fund:
P The most trusted brand; admired by all sta4eholders.
P The largest and most effi&ient money manager 3ith global presen&e.
P The best in &lass &ustomer ser6i&e pro6ider.
P The most preferred employer.
P The most inno6ati6e and best 3ealth &reator.

!A
Assets under Management
UTIAM) presently manages a &orpus of o6er (s. $%;J%B )roresQ as on 3Cth 8une "CCJ
Esour&e: 333.amfiindia.&omF. UTI Mutual 'und has a tra&4 re&ord of managing a
6ariety of s&hemes &atering to the needs of e6ery &lass of &iti9ens. It has a nation3ide
net3or4 &onsisting !!A UTI 'inan&ial )entres EU')sF and UTI International offi&es in
+ondon; ubai and Bahrain. Gith a 6ie3 to rea&h to &ommon in6estors at distri&t le6el;
! satellite offi&e ha6e also been opened.
UTIAM) has a 3ell5qualified; professional fund management team; 3hi&h has been
fully empo3ered to manage funds 3ith greater effi&ien&y and a&&ountability in the sole
interest of the unit holders. The fund managers are ably supported by a strong in5house
se&urities resear&h department. To ensure in6estorsL interests; a ris4 management
department is also in operation.
Reliability
UTIM' has &onsistently reset and upgraded transparen&y standards. All the bran&hes;
U')s and registrar offi&es are &onne&ted on a robust IT net3or4 to ensure &ost5effe&ti6e
qui&4 and effi&ient ser6i&e. All these ha6e e6ol6ed UTIM' to position as a dynami&;
responsi6e; restru&tured; effi&ient and transparent entity; fully &ompliant 3ith S-BI
regulations.
!#
s received by UTI Mutual Fund
UTI M' )7B) A3ard "CCJ...more
UTI Mutual 'und s3eeps I)(A mutual fund A3ard "CCJ...
UTI M' 3ins the Best ebt 'und ?ouse A3ard...
,olden @ea&o&4 Inno6ati6e @rodu&tNSer6i&e A3ard5"CCB...
+oyalty A3ards 5 "CCJ...
+ipper 'und A3ardsCJ5UTI Mahila Unit5# yrs...
+ipper 'und A3ardsCJ5UTI Mahila Unit53 yrs...
(eaderLs igest Trusted Brand "CCB...
+ipper 'und A3ards 5 ,ulf "CCB...
Top @erforming Infrastru&ture 'und 5 In&ome...
Brand loyalty A3ards "CCB...
'our I)(A % Star ,old A3ard...
'our I)(A # Star A3ard...
I)(A Mutual 'und A3ard "CC%...
+ipper 'und A3ards "CC%...
)(ISI+5)7B)5T0!B5Mutual 'und of the year A3ard "CC%...
I)(A Mutual 'und A3ard "CC$...
+ipper 'und A3ards...
)7B) India Mutual 'und of the 1ear A3ard...
UTI 7ifty Inde= 'und 3ins ,old at I)(A *nline...
UTI ynami& -quity 'und 3ins Sil6er at I)(A *nline...
!$
Investment Philosophy
UTI Mutual 'undLs in6estment philosophy is to deli6er &onsistent and stable returns in
the medium to long term 3ith a fairly lo3er 6olatility of fund returns &ompared to the
broad mar4et. It belie6es in ha6ing a balan&ed and 3ell5di6ersified portfolio for all the
funds and a rigorous in5house resear&h based approa&h to all its in6estments. It is
&ommitted to adopt and maintain good fund management pra&ti&es and a pro&ess based
in6estment management.
UTI Mutual 'und follo3s an in6estment approa&h of gi6ing as equal an importan&e to
asset allo&ation and se&toral allo&ation; as is gi6en to se&urity sele&tion 3hile managing
any fund. It &ombines top5do3n and bottom5up approa&hes to enable the
portfoliosNfunds to adapt to different mar4et &onditions so as to pre6ent missing an
in6estment opportunity.
In terms of its funds performan&e; UTI Mutual 'und aims to &onsistently remain in the
top quartile 6is5R56is the funds in the peer group.
Mumbai
!
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!%
Sponsors

Three leading publi& se&tor ban4s M Ban4 of Baroda; @unjab 7ational Ban4 and State
Ban4 of India and +ife Insuran&e )orporation of India E+I)F; the largest publi& finan&ial
in6estment institution and life insurer in India are the sponsors of UTI Mutual 'und.
Bank of Baroda:-
Ban4 of Baroda is a &ommer&ial ban4 performing a&ti6ities in terms of Ban4ing
)ompanies EA&quisition and Transfer of Underta4ings A&t !J%CF under 3hi&h the
Underta4ing of the Ban4 3as ta4en o6er by the )entral ,o6ernment. uring the period
sin&e in&eption; it has al3ays maintained its pra&ti&e of sound 6alue based ban4ing to
emerge as one of the premier publi& se&tor Ban4s of the &ountry today. It has a tra&4
re&ord of uninterrupted profits sin&e in&eption in !JCB. The finan&ial strength of the Ban4
and its long tradition of effi&ient &ustomer ser6i&e are dra3n substantially from the
e=tensi6e rea&h of its "%3" strong bran&h net3or4 Eas of 3!.C3."CC%F &o6ering almost
e6ery State and Union Territory in the )ountry. The Ban4 is also one of the fe3 Indian
Ban4s 3ith a formidable presen&e o6erseas 3ith AC bran&hes. Thus; the total bran&h
net3or4 is ";%%" as at 3!.C3."CC%.
Life Insurance Corporation of India
+ife Insuran&e )orporation of India E+I)F is amongst the largest insuran&e &ompanies in
the 3orld; 3ith "CAB bran&hes and ha6ing a 'und si9e of (s.5#;$C;BC$.33 &rore.
Punjab National Bank
@unjab 7ational Ban4 is a &ommer&ial ban4 performing a&ti6ities in terms of Ban4ing
)ompanies EA&quisition and Transfer of Underta4ings A&t !J%CF under 3hi&h the
Underta4ing of the Ban4 3as ta4en o6er by the )entral ,o6ernment. The main obje&t of
the ban4 under the said A&t is as belo3:5 An a&t to pro6ide for the a&quisition and transfer
of the underta4ing of &ertain ban4ing &ompanies; ha6ing regard to their si9e; resour&es
&o6erage and organisation; in order to further to &ontrol the heights of the e&onomy; to
meet progressi6ely and ser6e better; the needs of the de6elopment of the e&onomy and to
!B
promote the 3elfare of the people; in &onformity 3ith the poli&y of the State to3ards
se&uring the prin&iples laid do3n in &lause EbF and E&F of Arti&le 3J of the )onstitution of
India and for matter &onne&ted there3ith or in&idental therein. As on 3!.C3."CC% @unjab
7ational Ban4 has A#3J domesti& offi&es in&luding A"! e=tension &ounters; " subsidiaries
and a deposit si9e of (s.!; 3J;B$C &rores.
State Bank of India:
The State Ban4 of India is the largest publi& se&tor ban4 in India 3ith J#!% bran&hes in
India and B3 offi&es in 3" &ountries 3orld3ide. In addition to this; SBI also has "!
subsidiaries.
The sponsors are not responsible nor liable for any loss resulting from the operation of
the s&heme beyond the &ontribution of an amount of (s.!C;CCCN5 made by them to3ards
setting up of the Mutual 'und.
!J
UTI Asset Management )o. +td. EUTIAM)F is a &ompany in&orporated under The
)ompanies A&t; !J#$.
The paid up &apital of UTIAM) has been subs&ribed equally by four sponsors: State Ban4 of
India; +ife Insuran&e )orporation of India; Ban4 of Baroda and @unjab 7ational Ban4.
UTIAM); apart from managing the s&hemes of UTI Mutual 'und; also manages the s&hemes
transferredNmigrated from the erst3hile Unit Trust of India; in a&&ordan&e 3ith the pro6isions
of the In6estment Management Agreement; the Trust eed; the S-BI EMutual 'undsF
(egulations and the obje&ti6es of the s&hemes.
UTIAM) has also entered into a ser6i&e agreement 3ith the Administrator of the Spe&ified
Underta4ing of the Unit Trust of India ESUUTIF to pro6ide them 3ith ba&4 offi&e support for
Subsidiaries
UTI (etirement Solutions +td. EUTI(S+F; is a !CCS subsidiary of UTIAM) 3hi&h 3as
in&orporated in e&ember; "CC% and started operations 3.e.f. Mar&h; "CCB. UTI(S+ has been
set up to &arry out the operations as a @ension 'und Manager under the 7e3 @ension
System set up by @ension 'und (egulatory and e6elopment Authority E@'(AF.
UTI(S+ 3as initially appointed by the 7@S to manage the pension funds of the go6ernment
employees. In Mar&h; "CCJ; the )ompany has also been appointed by 7@S for management
of pension funds for non5go6ernment employees.
"C
RELIANCE MUTUAL FUND
(elian&e Mutual 'und E(M'F is one of IndiaLs leading Mutual 'unds; 3ith Assets Under
Management EAUMF of (s. J3;#3" &rore EAUM as on "Jth 'eb CBF and an in6estor base
of o6er $#.%3 +a4hs. (elian&e Mutual 'und; a part of the (elian&e 5 Anil hirubhai
Ambani ,roup; is one of the fastest gro3ing mutual funds in the &ountry. (M' offers
in6estors a 3ell5rounded portfolio of produ&ts to meet 6arying in6estor requirements and
has presen&e in !!# &ities a&ross the &ountry. (elian&e Mutual 'und &onstantly endea6ors
to laun&h inno6ati6e produ&ts and &ustomer ser6i&e initiati6es to in&rease 6alue to
in6estors. T(elian&e Mutual 'und s&hemes are managed by (elian&e )apital Asset
Management +imited.; a subsidiary of (elian&e )apital +imited; 3hi&h holds J3.3%S of
the paid5up &apital of ()AM; the balan&e paid up &apital being held by minority
shareholders.T(elian&e )apital +td. is one of IndiaLs leading and fastest gro3ing pri6ate
se&tor finan&ial ser6i&es &ompanies; and ran4s among the top 3 pri6ate se&tor finan&ial
ser6i&es and ban4ing &ompanies; in terms of net 3orth. (elian&e )apital +td. has interests
in asset management; life and general insuran&e; pri6ate equity and proprietary
in6estments; sto&4 bro4ing and other finan&ial ser6i&es.
"!
About Us
HDFC Asset Management Company Limited (AMC)
?') Asset Management )ompany +td EAM)F 3as in&orporated under the )ompanies
A&t; !J#$; on e&ember !C; !JJJ; and 3as appro6ed to a&t as an Asset Management
)ompany for the ?') Mutual 'und by S-BI 6ide its letter dated 8uly 3; "CCC.
The registered offi&e of the AM) is situated at (amon ?ouse; 3rd 'loor; ?.T. @are4h
Marg; !$J; Ba&4bay (e&lamation; )hur&hgate; Mumbai 5 ACC C"C.
In terms of the In6estment Management Agreement; the Trustee has appointed the ?')
Asset Management )ompany +imited to manage the Mutual 'und. The paid up &apital
of the AM) is (s. "#.!$! &rore.
""
ICICI PRU. MUTUL FUND
I)I)I @rudential mutual fund is a joint 6enture bet3een I)I)I Ban4; a premier finan&ial
po3erhouse; and prudential pl&; a leading international finan&ial ser6i&es group
headquartered in the United Kingdom. I)I)I @rudential 3as amongst the first pri6ate
se&tor insuran&e &ompanies to begin operations in e&ember "CCC after re&ei6ing
appro6al from Insuran&e (egulatory e6elopment Authority EI(AF.
I)I)I @rudentialIs &apital base stands at (s. "C."$ billion 3ith I)I)I Ban4 and @rudential
pl& holding %AS and "$S sta4e respe&ti6ely. 'or the past fi6e years; I)I)I
@rudential has retained its position as the 7o. ! pri6ate life insuran&e in the &ountry;
3ith the 3ide range of fle=ible produ&ts that meet the needs of the Indian &ustomer at
e6ery step in life. In the first quarter of finan&ial year "CC$5C% 3e ha6e &ross the ne3
milestone of insuring the li6es of more than ".# million poli&e holders. Today our
nation53ide team &omprises of o6er #BC offi&es; o6er "3ACCC ad6isors: and "" ban4
assuran&e partners.
This rating is determined after a thorough e6olution of &ompanyLs finan&ial pro&esses;
ris4 management frame3or4; produ&t mi=; mar4et share; et&. *6er the past fi6e years
"3
INTRODUCTION TO PRO1ECT
MUTUAL FUND
A Mutual 'und is a body &orporate registered 3ith S-BI ESe&urities -=&hange Board of
IndiaF that pools money from indi6idualsN&orporate in6estors and in6ests the same in a
6ariety of different finan&ial instruments or se&urities su&h as equity shares; ,o6ernment
se&urities; Bonds; debentures et&. Mutual funds &an thus be &onsidered as finan&ial
intermediaries in the in6estment business that &olle&t funds from the publi& and in6est on
behalf of the in6estors. Mutual funds issue units to the in6estors. The appre&iation of the
portfolio or se&urities in 3hi&h the mutual fund has in6ested the money leads to an
appre&iation in the 6alue of the units held by in6estors. The in6estment obje&ti6es outlined
by a Mutual 'und in its prospe&tus are binding on the Mutual 'und s&heme. The
in6estment obje&ti6es spe&ify the &lass of se&urities a Mutual 'und &an in6est in. Mutual
'unds in6est in 6arious asset &lasses li4e equity; bonds; debentures; &ommer&ial paper and
go6ernment se&urities. The s&hemes offered by mutual funds 6ary from fund to fund. Some
are pure equity s&hemes: others are a mi= of equity and bonds. In6estors are also gi6en the
option of getting di6idends; 3hi&h are de&lared periodi&ally by the mutual fund; or to
parti&ipate only in the &apital appre&iation of the s&heme.
TYPES OF MUTUAL FUNDS
"A
Mutual funds are classified in the following manner:
(a) On the basis of Objective
Equity Funds/ Growth Funds
'unds that in6est in equity shares are &alled equity funds. They &arry the prin&ipal
obje&ti6e of &apital appre&iation of the in6estment o6er the medium to long5term. They
are best suited for in6estors 3ho are see4ing &apital appre&iation. There are different
types of equity funds su&h as i6ersified funds; Se&tor spe&ifi& funds and Inde= based
funds.
Diversified funds
These funds in6est in &ompanies spread a&ross se&tors. These funds are generally meant
for ris45a6erse in6estors 3ho 3ant a di6ersified portfolio a&ross se&tors.
Sector funds
These funds in6est primarily in equity shares of &ompanies in a parti&ular business se&tor
or industry. These funds are targeted at in6estors 3ho are bullish or fan&y the prospe&ts of
parti&ular se&tor funds.
Tax Saving Funds
These funds offer ta= benefits to in6estors under the In&ome Ta= A&t. *pportunities
pro6ided under this s&heme are in the form of ta= rebates under the In&ome Ta= a&t.
Debt/Income Funds
These funds in6est predominantly in high5rated fi=ed5in&ome5bearing instruments li4e
bonds; debentures; go6ernment se&urities; &ommer&ial paper and other money mar4et
"#
instruments. They are best suited for the medium to long5term in6estors 3ho are a6erse to
ris4 and see4 &apital preser6ation. They pro6ide a regular in&ome to the in6estor.
Gilt Funds
These funds in6est in )entral and State ,o6ernment se&urities. Sin&e they are
,o6ernment ba&4ed bonds they gi6e a se&ured return and also ensure safety of the
prin&ipal amount. They are best suited for the medium to long5term in6estors 3ho are
a6erse to ris4.
b) On the basis of Flexibility
Open-ended Funds
These funds do not ha6e a fi=ed date of redemption. ,enerally they are open for
subs&ription and redemption throughout the year. Their pri&es are lin4ed to the daily net
asset 6alue E7A0F. 'rom the in6estorsI perspe&ti6e; they are mu&h more liquid than
&losed5ended funds.
Close-ended Funds
These funds are open initially for entry during the Initial @ubli& *ffering EI@*F and
thereafter &losed for entry as 3ell as e=it. These funds ha6e a fi=ed date of redemption.
*ne of the &hara&teristi&s of the &lose5ended s&hemes is that they are generally traded at a
dis&ount to 7A0: but the dis&ount narro3s as maturity nears. These funds are open for
subs&ription only on&e and &an be redeemed only on the fi=ed date of redemption. The
units of these funds are listed on sto&4 e=&hanges E3ith &ertain e=&eptionsF; are tradable
and the subs&ribers to the fund 3ould be able to e=it from the fund at any time through
the se&ondary mar4et.
Different investment plans that Mutual Funds offer
The term Lin6estment plansL generally refers to the ser6i&es that the funds pro6ide to
in6estors offering different 3ays to in6est or rein6est.The different in6estment plans are
"$
an important &onsideration in the in6estment de&ision; be&ause they determine the
fle=ibility a6ailable to the in6estor. Some of the in6estment plans offered by mutual funds
in India are:
Growth Plan and Dividend Plan
A gro3th plan is a plan under a s&heme 3herein the returns from in6estments are
rein6ested and 6ery fe3 in&ome distributions; if any; are made. The in6estor thus only
reali9es &apital appre&iation on the in6estment. Under the di6idend plan; in&ome is
distributed from time to time. This plan is ideal to those in6estors requiring regular
in&ome.
As per SEBI Regulations on Mutual Funds, an investor is entitled to:
!. (e&ei6e Unit &ertifi&ates or statements of a&&ounts &onfirming your title 3ithin $
3ee4s from the date your request for a unit &ertifi&ate is re&ei6ed by the Mutual 'und.
". (e&ei6e information about the in6estment poli&ies; in6estment obje&ti6es; finan&ial
position and general affairs of the s&heme.
3. (e&ei6e di6idend 3ithin A" days of their de&laration and re&ei6e the redemption or
repur&hase pro&eeds 3ithin !C days from the date of redemption or repur&hase.
A. The trustees shall be bound to ma4e su&h dis&losures to the unit holders as are essential
in order to 4eep them informed about any information; 3hi&h may ha6e an ad6erse
bearing on their in6estments.
#. %#S of the unit holders 3ith the prior appro6al of S-BI &an terminate the AM) of the
fund.
ADVANTAGES OF MUTUL FUND
"%
Mutual 'unds offer se6eral benefits to an in6estor that unmat&hed by the other
in6estment options. The major benefits are good post5ta= returns and reasonable safety;
the other benefits in in6esting in Mutual 'unds are
PROFESSIONAL MANAGEMENT:
Mutual 'unds employ the ser6i&es of e=perien&ed and s4illed professionals and dedi&ated
in6estment resear&h team. The 3hole team analyses the performan&e and balan&e sheet of
&ompanies and sele&ts them to a&hie6e the obje&ti6es of the s&heme.
POTENTIAL RETURN:
Mutual 'unds ha6e the potential to pro6ide a higher return to an in6estor than any
other option o6er a reasonable period of time.
DIVERSIFICATION:
Mutual 'unds in6est in a number of &ompanies a&ross a 3ide &ross se&tion of industries
and se&tors.
LIQUIDITY:
The in6estor &an get the money promptly at the net asset 6alue related pri&es from the
Mutual 'unds open5ended s&hemes. In &lose5ended s&hemes; the units &an be sold on a
sto&4 e=&hange at the pre6ailing mar4et pri&e.
TRANSPARENCY:
Mutual 'unds ha6e to dis&lose their holdings; in6estment pattern and the ne&essary
information before all in6estors under a regulation frame3or4.
FLEXIBILITY:
"B
In6estment in Mutual 'unds offers a lot of fle=ibility 3ith features of s&hemes su&h as
regular in6estment plan; regular 3ithdra3al plans and di6idend rein6estment plans
enabling systemati& in6estment or 3ithdra3al of funds.
WELL REGULATED:
All Mutual 'unds are registered 3ith S-BI; and S-BI a&ts a 3at&hdog; so the Mutual
'unds are 3ell regulated
DISADVANTAGES OF MUTUAL FUNDS
FLUCTUATING RETURNS:
Mutual funds are li4e many other in6estments 3ithout a guaranteed return. There is
al3ays the possibility that the 6alue of your mutual fund 3ill depre&iate. Unli4e fi=ed5
in&ome produ&ts; su&h as bonds and Treasury bills; mutual funds e=perien&e pri&e
flu&tuations along 3ith the sto&4s that ma4e up the fund.
DIVERSIFICATION:
Although di6ersifi&ation is one of the 4eys to su&&essful in6esting; many mutual fund
in6estors tend to o6er di6ersify. The idea of di6ersifi&ation is to redu&e the ris4s
asso&iated 3ith holding a single se&urity: o6er di6ersifi&ation Ealso 4no3n as
di3orsifi&ationF o&&urs 3hen in6estors a&quire many funds that are highly related and so
donIt get the ris4 redu&ing benefits of di6ersifi&ation.
CASH, CASH AND MORE CASH:
"J
Mutual funds pool money from thousands of in6estors; so e6eryday in6estors are putting
money into the fund as 3ell as 3ithdra3ing in6estments. To maintain liquidity and the
&apa&ity to a&&ommodate 3ithdra3als; funds typi&ally ha6e to 4eep a large portion of
their portfolio as &ash. ?a6ing ample &ash is great for liquidity; but money sitting around
as &ash is not 3or4ing for you and thus is not 6ery ad6antageous.
COSTS:
In mutual funds the fees are &lassified into t3o &ategories: shareholder fees and annual
fund5operating fees.
The shareholder fees; in the forms of loads and redemption fees are paid dire&tly by
shareholders pur&hasing or selling the funds. The annual fund operating fees are &harged
as an annual per&entage 5 usually ranging from !53S. These fees are assessed to mutual
fund in6estors regardless of the performan&e of the fund. Ghen the fund doesnIt ma4e
money these fees only magnify losses.
MISLEADING ADVERTISEMENTS:
The misleading ad6ertisements of different funds &an guide in6estors do3n the 3rong
path. Some funds may be in&orre&tly labeled as gro3th funds; 3hile others are &lassified
as small5&ap or in&ome.
EVALUATING FUNDS:
Another disad6antage of mutual funds is the diffi&ulty they pose for in6estors interested
in resear&hing and e6aluating the different funds. Unli4e sto&4s; mutual funds do not
offer in6estors the opportunity to &ompare the @N- ratio; sales gro3th; earnings per share;
et&.
3C
TAX ASPECT OF MUTUAL FUND
DIVIDEND MADE TAX-FREE
i6idend re&ei6ed from a domesti& &ompany and in&ome distributed by UTI5I or any M';
to its unit holders has been made ta=5free from !.A.C3 on3ards. ?o3e6er; di6idend
de&lared; distributed or paid by su&h sour&es shall be &harged a distribution ta= of
H!$.JJ#S flat. This distribution ta= is in addition to the normal in&ome ta= payable by
them.
CAPITAL GAIN TAX:
)apital gains are generated through the sale of sto&4s; bonds and other in6estments;
3hi&h ha6e appre&iated in 6alue; from the fundLs portfolio. There are no &apital grain ta=
on M' and sto&4 mar4et. Ghile ST), are subje&t to Ta=H!CS e6en traded through
sto&4 e=&hange and se&urity from sto&4 e=&hange and se&urity from a&tion ta= has been
paid. Unquated sharesN M' are subje&t to ta= at normal rate of ta=.
3!
INCOME RECEIVED FROM MUTUAL FUND:
The Internal (e6enue Ser6i&e might depend upon the nature of your mutual fund
in6estment. ,enerally; most in&ome generated from a mutual fund a&&ount; 3ith the
e=&eption of ta=5e=empt money mar4et or muni&ipal bond funds; is subje&t to federal
ta=es as ordinary in&ome or &apital gains
WEALTH TAX:
Under se& "E!FEeF of Gealth ta= A&t it is not treated as an asset. Therefore this is
e=empted from ta= liability.
GIFT TAX:
Mutual 'und may be gi6en as a gift and no ta= is appli&able by doner or donee
TDS ON REDEMPTION:
7o TS is required to be dedu&ted from &apital gain at the time of redemption in &ase of
mutual fund.
TAX BENEFITS ON INVESTMENT IN MUTUAL FUND:
E!F !CCS In&ome Ta= -=emption on all Mutual 'und di6idends.
E"F )apital ,ains ta= to be lo3er of M
!CS on the &apital gains 3ithout fa&toring inde=ation benefits and
"CS on the &apital gains after fa&toring inde=ation benefits.
E3F *pen5end funds 3ith equity e=posure of more than #CS are e=empt of di6idend ta=
for a period of 3 years from !JJJ5"CCC.
3"
MUTUAL FUNDS IN INDIA
33

CHAPTER 2
OBE1ECTIV ES TO STUDY
3A
OB1ECTIVE OF THE STUDY
The spe&ifi& obje&ti6e &an be enumerated as follo3ing5
!. To study the mar4eting strategies related to Mutual 'und at Kar6y Sto&4 Bro4ing
+td.
". To analyse the current trends of Mutual 'unds in the Indian Mar4et.

3#

CHAPTER 3
RESEARCH METHODOLOGY
LIMITATIONS

3$
RESEARCH METHODOLOGY

Research Design:
The sample 3as sele&ted of them 3ho are the &ustomersN6isitors of Kar6y Sto&4 Bro4ing
+td; Mall (oad Bathinda; irrespe&ti6e of them being in6estors of not or a6ailing the
ser6i&es of not. It 3as also &olle&ted through personal 6isits U to persons; by formal and
informal tal4s and through filling up the questionnaire prepared. The data has been
analy9ed by using mathemati&alNStatisti&al tool.
Descriptive Research: It is that type of resear&h 3hi&h &an e=plain 3hat had
happened and 3hat is happening
Data Collection
Primary Data
@rimary data are those; 3hi&h are &olle&ted a fresh and for the first time; and thus happen
to be original in &hara&ter. It is the ba&4bone of any study. In this proje&t; ata is
&olle&ted through a questionnaire.
Secondary Data
Se&ondary data are those 3hi&h ha6e already been &olle&ted by someone else and 3hi&h
ha6e already been passed through the statisti&al pro&ess. Se&ondary sour&es are boo4s;
internet; maga9ines et&.
3%
Sampling Design
ata has been presented 3ith the help of bar graph; pi&ture &harts; line graph et&.
Sampling Unit: Bathinda
Sampling Size: The sample of my proje&t is limited to !CC people only. *ut of 3hi&h
only %# people had in6ested in Mutual 'und. *ther "# people did not ha6e in6ested in
Mutual 'und.V?o3 u 4ne3 this in starting U
LIMITATIONS OF THE STUDY
+ead pro6ided me 3as not suffi&ient.
ue to pau&ity of time; sample si9e limited up to !"CEit 3as !CC in last paraF
respondents only.
Most of the in6estors did not respond 3ell < might ha6e replied in&orre&tly.
it 3as diffi&ult to fi= appointment 3ith &lients due to their tight s&hedule.
The reliability of data &olle&ted and analy9ed depends upon the sour&es of data.
Some in6estors did not 3ant to re6eals fa&t figures of their earnings and
in6estment.
The lead pro6ided me 3as limited to Bathinda only. It 3as not enough for my
summer training Topi&.
3B

CHAPTER 4
ANALYSIS & INTERPRETATION








3J
Q.1 Which Income bracket best describe your annual income?
Income (Rs. in lakh) No. of Respondent
Up to *ne %
! to ".# 3C
".# to # A#
W# !B
Total 100
Description:
Majority of the in6estors &omes under the in&ome ".# to # la4h.
About !B respondents &ome under the in&ome more than # la4h.
+east % respondents &ome under the in&ome up to ! la4h.
AC
Q.2 How much of total investment do you invest in mutual fund?
Investment (in ) Number of respondent
X!C 3$
!C5"C 3!
"C5AC "3
WAC !C
Total 100
Description:
3$ of the respondents in6est less than !CS in mutual fund out of their total
in6estment &ompare to 3! 3ho in6est their !C5"CE@ut S 3here6er requiredF of
their total in6estment.
"3S respondents in6est "C5AC of their total in6estment 3here as respondent
greater than AC in6est of their total in6estment in mutual fund.
A!
Q.3 What is the Primary objective of your investment?
Objectives Number of respondent
Ta= benefits 3"
)apital appre&iation 3A
i6idend CB
+iquidity "$
Total 100
Description:
About 3A of the respondentLs primary obje&ti6e is &apital appre&iation. Ta= benefit
is the se&ond obje&ti6e of the respondent 3!.
+iquidity as a primary obje&ti6e &onstitute only "$. B in6est for the obje&ti6e of
di6idend.
A"
Q.4 Which of the following types of Mutual Fund do you invest in?
Types of Mutual Fund Number of respondent
*pen -nded 3J
)lose -nded !C
Both #!
Total 100
Description:
*pen ended s&hemes &onstitute 3J of the total respondents. Ghere as only !C
&onstitute &lose ended s&hemes.
Both open ended and &lose ended &onstitute about half of the respondent E#!F.
A3
Q.5 What is your preference of investment among the following schemes?
Schemes Number of respondent
-quity A!
ebt !J
Se&toral "J
*thers !!
Total 100
Description:
-quity s&hemes are the most preferred EA!F; then se&toral s&hemes E"JF.
ebt s&hemes &onstitute !J and others &onstitute only !!.
AA
Q.6 Which of the following company`s (Mutual Fund) did you make maximum
investment in?
Companies Number of Respondent
(elian&e "A
I)I)I @rudential C$
+I) 3$
Kar6y "!
*thers !3
Total 100
Description:
(elian&e mutual fund is 3idely e=pe&ted Ese&ond positionC just sfter +I) 3hi&h
&onstitute 3$ of the respondents. Kar6y on 3
rd
E"!F.
I)I)I @rudential is least popular Eonly $F.
*thers mutual funds &onstitute !3 of the respondents.
A#
Q.7 Do you think that the performance of Mutual Fund Company effect the criteria of
Investment?
Opinion Number of Respondent
1es BC
7o !"
)anLt Say CB
Total 100
Description:
Ma=imum of the respondents EBCF thin4 that the performan&e of Mutual 'und
)ompany effe&t the &riteria of in6estment 3hereas !" donLt belie6e so.
B are unable to say anything.
A$
Q.8 Are you satisfy with the return or your present investment?
Opinion Number of
respondents
?ighly Satisfied CJ
Satisfied A%
Unsatisfied 3"
?ighly Unsatisfied !"
Total 100
Description:
About half of the respondents EA%F are satisfied 3ith return of their present
in6estment. *n the other hand 3" are unsatisfied also.
J of the respondents are highly satisfied &ompare to !" 3ho are highly unsatisfied.
A%
Q.9 Do you think that mandatory of permanent account number (PAN) effect the
investment?
Opinion Number of respondent
1es %%
7o !B
)anLt Say C#
Total 100
Description:
%% of the respondents thin4 that mandatory @A7 effe&t the in6estment. *n the other hand;
!B donLt belie6e so.
# are unable to say anything.
AB
Q.10 Do you think that Mutual Fund Investment is Profitable ?.
Opinion Number of respondent
1es %#
7o "#
Description:
%# of the respondent says yes mutual 'und In6estment is profitable
"# says no
AJ
CHAPTER 5
FINDINGS

#C
FINDINGS
!F Majority of the respondent 3e met 3ere Male in the age group of 3C5AC yrs.
"F More than $# of the in6estor in6est only about "CE@ut SF of their total in6estment
in Mutual fund.
3F Majority of in6estors ha6e in6ested in +I)E ho3 u 4no3 this F; as perhaps itLs
oldest and reliable trust.
AF Amongst the pri6ate player; Kar6y Mutual fund is rapidly be&oming popular
among in6estors.
#F @eople in6est in Mutual 'und @rimarily for &apital gro3th and se&ondarily for ta=
benefits S liquidity.
$F Majority of the in6estors opt for equity s&hemes.
%F *pen ended s&hemes ha6e more preferen&e to &lose ended s&hemes
BF Add more findings
#!
CHAPTER-6
RECOMMENDATIONS AND
CONCLUSION
#"
RECOMMENDATIONS AND CONCLUSION
!F There is a large s&ope of Mutual 'unds to in6est in espe&ially in suburban area.
"F There is need to ha6e more promotional a&ti6ities from the 6ery grass root le6el
su&h as installing &anopy; ad6ertising through print < ele&troni& medi&.
3F @eople in6est their sa6ings in a trust not in a &ompany. So in6estors trust should be
maintained and de6eloped by deli6ering best ser6i&es and after safe ser6i&es; 6alue
added ser6i&es and after sale ser6i&es.
AF The obje&ti6e of the in6estment for mutual fund should be &apital gro3th and fund
should be in6ested in equities.
#F -quity s&hemes of Mutual 'und are the most preferred amongst in6estors as they
gi6e high returns o6er the other s&hemes.
$F *pen ended s&heme is highly preferred amongst &ustomers as there may be reasons
for redemption of unit at any period of time.
%F @erforman&e of mutual should be fo&used on by pro6iding ne&essary fa&ts figures;
a3ard < other a&hie6ement of the trust.
BF In6estors got their e=pe&ted returns from the in6estment they ha6e ma4e already
and thus it 3iden the s&ope of in6estment further.
Where is conclusion ?????????????
#3
QUESTIONNAIRE
Q.1 Which Income bracket best describe your annual income?
Income (Rs. in lakh)
Up to *ne
! to ".#
".# to #
W#
Q.2 How much of total investment do you invest in mutual fund?
Investment (in )
X!C
!C5"C
"C5AC
WAC
Q.3 What is the Primary objective of your investment?
Objectives
Ta= benefits
)apital appre&iation
i6idend
+iquidity
Q.4 Which of the following types of Mutual Fund do you invest in?
Types of Mutual Fund
*pen -nded
)lose -nded
Both
Q.5 What is your preference of investment among the following schemes?
Schemes
-quity
ebt
Se&toral
*thers
Q.6 Which of the following AMC`S (Mutual Fund) did you make maximum
investment in?
#A
AMC`S (Mutual Fund)
(elian&e
I)I)I @rudential
+I)
Kar6y
*thers
Q.7 Do you think that the performance of AMC effect the criteria of Investment?
Opinion
1es
7o
)anLt Say
Q.8 Are you satisfy with the return or your present investment?
?ighly Satisfied
Satisfied
Unsatisfied
?ighly Unsatisfied
Q.9 Do you think that mandatory of permanent account number (PAN) effect the
investment?
1es
7o
)anLt Say
Q.10Do you think that Mutual Fund Investment is Profitable ?.
##
Opinion Number of respondent
1es %#
7o "#
BIBLIOGRAPHY
#$
BIBLIOGRAPHY
(Add dates and date ,pg no. of newspaper)
333.google.&om
333.4ar6y.&om
333.relian&emutualfund.&om
333.mutualfundofinsa.&om
7-GS @A@-( E-)*7*MI) TIM-S; BUSI7-SS G*(+; TIM-S *' I7IAF
#%
#B