05 Project Report Abhishek

CHAPTER-1
INTRODUCTION
 INTRODUCTION TO THE PROJECT
 SIGNIFICANCE OF THE STUDY
 OBJECTIVE OF THE STUDY
 LIMITATION OF THE STUDY
 SCOPE OF THE STUDY
1– INTRODUCTION
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1.1-INTRODUCTION TO THE PROJECT
The project report is an essential feature of the “Masters of Business

Administration” under the West Bengal University of Technology
(WBUT). It provides an excellent opportunity to learn the practical
aspects of the fundamental concepts taught in an academic institute. It
serves to reinforce the ideas learnt in the class and has a synergic
effect on the students’ knowledge.
As a student of “Management Institute of Durgapur” I was extremely
fortunate to have undergone my summer internship project on
“Analyzing the investors risk taking perception towards
Financial Products – A case study on Niveshak Mpowered” from
Kolkata. I got to interact with expert and aided my learning process
immensely. Possibly the most challenging concept investors risk taking
perception towards Financial Products. But such knowledge is critical
for strong understanding of investor behavior will help shed light on
what is important to the investors and also suggest the important
influences on investor decision-making. Using this information,
marketers can create marketing programs that they believe will be of
interest to customers. It describes the major factors influencing the
investor investing behavior in financial products.
1.2 - SIGNIFICANCE OF THE STUDY
As the twentieth century has come to a close and we have move into
the third millennium, we can see many developments and changes
taking place around us with all the industries and firms within each
industry trying to keep pace with the changes and diverse needs of the
people. Though for decade together, marketers have regarded
‘customer’ as the king and evolved all activities to satisfy him or her,
giving this concept a momentum it is necessary to understand the
Perception and Expectations of the investors in respect various aspects
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& attributes so as to design a successful and an acceptable financial
product . Not only has competition become intense but over and above
with the market being flooded with many me-too financial products,
the challenge before the marketer is to understand the diversity of
consumer expectations and offer different facility and risk cover
accordingly. Thus the success asset allocation company will be
determined by how effective it has been in meeting the diverse
investor’s needs and wants by treating each investor as unique and
offering products to suit his or her needs. The study is very much
significant because it brings out of difference in various parameters
like rate of return, investment goal, and downward fluctuation in
investment portfolio etc, behind investment between the financial
product of a particular company, and these are the main attributes
which build up investment perception and loyalty towards a financial
product.
1.3 - OBJECTIVES OF THE STUDY:

As all the researches are based on something and this study is also
based upon some objectives and these are as follows:
• To investigate the investment preferences towards financial
products.
• To identify the factors that configures individuals’ perception
towards investment in financial products.
1.4 - LIMITATION OF THE STUDY
There have been a number of limitations because of which the survey

may not be indicative of the views of the target population. A few of
these have been mentioned below.
• Time is the main constraints of this study.
• The Sample size used for the research is less.
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• The Target Area was limited to the nearby area.
• Consultation with Experts would have largely improved quality
of the Research.
• The Questionnaire was not extensive and more issues could
have been addressed.
• The responses obtained might be inaccurate or biased,
inadvertently or deliberately.
• The sample of the respondents chosen for the study might not
be representative.
• Analysis of the proposed aspects might differ depending on
the tools and techniques used.
1.4 - SCOPE OF THE STUDY
There are the some scopes of the study related to this topic in future
research.
• Analytical study of different financial products.
• Customer awareness about financial products.
In order to know the company profile, it has been discussed in the following chapter.
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CHAPTER –
2
COMPANY PROFILE
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2 – COMPANY PROFILE
NIVESHAK MPOWERED
Niveshak is a Company incorporated under the Indian Companies Act 1956.
Niveshak is created solely with a view to provide a platform for the Investors
to enable them to take informed decision for investing their hard earned
money, in seeking this goal, Niveshak also endeavors to develop a qualified
and well-informed cadre of Financial Advisors and Distributors by
empowering the practicing Financial Advisors/Distributors with
better/relevant knowledge/skills and by training the young college and B-
School graduates with adequate knowledge/skills.
A unique Investor Education Program has been devised for helping the
investor understand the intricacies of the savings and investments. The
program also encompasses in it sufficient provision to draw sufficient learning
from the feedback received from the investors as to what is the significance
of learning and knowledge on the investment decisions of the common
investors. Niveshak Associates would help the investors in understanding
their risk profile so that they can understand what type of savings/investment
options or securities and mutual funds they should invest within their overall
risk profile.
Niveshak is an initiative of SPA Capital Services Ltd. and Acsys Software

(India) Pvt. Ltd
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2.2 - GROUP COMPANY
SPA Capital Service Ltd
SPA Group promoted in 1995, by a team of financial professionals,

provides value added financial services like corporate finance and
wealth management services to Indian companies and HNIs.
SPA Group has established itself as one of India's leading

financial advisory house, offering various financial services like
securities broking, insurance broking, corporate finance, merchant
banking, financial advisory, risk management and wealth
management.
SPA Capital Services Ltd. is a flagship company of SPA Group, engaged

in advisory and distribution services of mutual funds & insurance and is
ranked amongst the top 5 financial intermediaries of the country.
The company has a distribution network of over 200 sub-

brokers across India being serviced by its 58 branches. The company
has mobilized over Rs. 5 lac crores for various mutual funds during the
last 10 years and is currently having AUM over Rs.20000 crores with
hundreds of satisfied customers.
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Acsys Software (India) Pvt. Ltd
is a leading Technology and Software Solution Provider in the niche

vertical of the Mutual Fund Industry both in India and abroad. Its
Software products and services covering many application areas are
termed "Best of Brand" services within the Indian Fund Industry. Acsys
designs software solutions and products to keep pace with today's
changing market place. Its software applications and products, support
all participants in the fund industry, be it the Fund House, the
Distributor and/or Investor.
In addition, Acsys has a large pool of in-house expertise to continually

develop appropriate and advanced technology requirements to the
financial services market in general and Fund Industry in particular.
PROFILE
Acsys Software (India) Pvt. Ltd., incorporated in 1996, was originally
the software division of Computer Age Management Services (P) Ltd.,
(CAMS). It was hived off as a joint venture in association with Alliance
Capital LLP of the USA. Currently, Acsys Software is fully owned by the
original Indian promoters and is an affiliate Company to CAMS.
CAMS is India's largest Transfer Agency for Open Ended Funds

dominating more than 60% of the market. CAMS offer Outsourced
Transaction Processing, Customer Care, Fund Accounting and related
Transfer Agency Services.
Acsys Software products for Asset Management Companies,

Distributors and related entities come with the following advantages:
• Substantial knowledge of business and domain of the Mutual

Fund Industry. It understands the needs easily and is able to
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harness the software solutions for new products and services
faster.
• Its Software Products and services are put through extreme

process conditions through its stake-holder's businesses.
• It operates in a dynamic environment dictated by enormous

growth in the Indian Mutual Fund Industry in a very short span.
• Demonstrated capabilities overseas, through offshore

development, which resulted in an entity migrating from a
multiple database and legacy systems environment to a "state of
the art" open architecture software solution - See Case Study.
• Members of NICSA and ALFI, leading Fund Forums in US and

Europe. Thereby continually tracking trends in the overseas
Investment Industry.
• Multi-currency functionality to include Euro compliancy.
Acsys has a library of core products, which meets the software

requirements of Mutual Fund Asset Management Companies, Fund
Distributors and other intermediaries. All its products are designed
and customized using Client Server Architecture for Oracle
Databases with Power Builder and other Internet enabled front
ends, using JAVA, XML and other revolutionary tools for 24/7 web
delivery.
Acsys Software has production facilities at Chennai, India
and provides client service from Luxembourg for Europe.
2.3 - BOARD MEMBERS OF COMPANY
Mr. Kamal Somani, FCA
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is a senior finance professional with over 30 years of experience in
investment banking, securities broking and corporate finance. His vast
experience and vision has enabled the Group to establish itself as a
respected financial services provider in the country. He looks after the
overall group strategies and leads securities broking, investment
advisory and investment banking activities of the Group.
Mr. Sandeep Parwal, B.Com (Hons), FCA,

has over 20 years of experience in various aspects of financial
services. He handles investment advisory, insurance broking and
merchant banking activities of the Group. His expertise in providing
customized innovative solutions with unmatched speed provides a
distinctive edge to the Group's capability.
Mr. V. Shankar,
An alumnus of Indian Institute of Management Calcutta and Indian
Institute of Technology Madras, is the Managing Director of Computer
Age Management Services (CAMS), the largest RTA in India. Computer
Age Management Services Pvt. Ltd. (CAMS), offers a comprehensive
package of Transaction Processing and Customer Care services to the
Mutual Fund industry, and has been constantly raising the bar in
customer service since 1995.
Mr. Shanks is also a Director at Acsys Software., which is a

leading Technology and Software Solution Provider in the niche vertical
of the Mutual Fund Industry both in India and abroad
2.4 - Niveshak Financial Advisory Program

(NFAP)
It is believed that the financial and capital market would generate the
largest number of employment opportunities in the next 2 decades.
Yet the talented people with the skills sets required to fill most of the
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positions are glaringly missing in the country. A successful sales &
marketing career in the financial market requires a thorough grooming
at the grass-root level, and that is where this program commands
immense value.
NML believes that large scale employment opportunities

exist in this field for graduates and fresh MBAs, if empowered properly.
Niveshak, therefore, offers quality & practical education in field of
investment, financial planning, insurance and tax advisory. As part of
this initiative Niveshak has chosen to offer a comprehensive internship
program titled "Niveshak Interaction Program" for a total duration of
two months.
This Internship not only offers a strong opportunity to learn

for a budding student; but also shapes up the professional in the
student as a result of mentoring from an experienced Mentor. This
paves the way for a strong and rewarding career. The entire program
is designed such that student will also be made to acquire the AMFI &
IRDA licenses. In addition, the internship also enables a student to
earn sizeable money.
Niveshak Interaction Program - Objectives

Today the Indian Capital market requires the inclusion of a wide base
of retail investors to counter the volatility caused by the inflow &
outflow of foreign money on which we have excessive dependence.
Indian middle class savers the capital market via Mutual Funds,
Insurance etc. largely share the capital market (only amount 2% of the
salary savers participate). Only through a process of personalized
education can they be attracted to join
To ensure the delivery of "Investor.Education@home" and

facilitate investments, India needs to grow a new cadre of financial
advisors who are not merely "Salesmen" but rather "Advisors" -
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properly trained to educate and assist the saver, logistically and with
knowledge. NML proposes to achieve this goal through this unique
Internship Program in addition to the soon to be launched regular 6
month diploma program.
This program seeks to develop a vocational skill by providing

knowledge required to obtain licenses to advise investors, and then
provide the environment through an experimental learning proven to
avoid the temptation of merely hard selling financial products but
rather to deliver financial education. This program provides
opportunity to sharpen the communication and presentation skills. The
field work helps student in understanding the nitty-gritty of the
financial advisory.
2.5 - VISION
SPA believes in attaining customer satisfaction, on continuing

basis, by providing highest standard of financial services in India.
The philosophy at SPA is to provide services to clients after
assessment of their profile, needs and risk-appetite. The basic
work theme at SPA is:
-Dedicated, competent and honest team of professionals

-Customer centric work environment
- Insight of customers’ perspectives
- Strong research base
- Clear understanding of applicable laws
- Consistency and passion to excel
-Technology savvy
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2.6 - MILESTONE
Since 1994, with the coming into existence of the SPA Group, we have
diversified into a complete financial solution providing house, catering
aried needs of our clients ranging from investment advisory services to
investment banking, corporate re-structuring, distribution and broking
services, risk management and insurance advisory.
Within a short span of time, the Group has made a place for
itself in the midst of the top financial solutions provider in the country.
2.7 TYPES OF SERVICES PROVIDED BY GROUPS

OF SPA-
• Financial Advisory
• Tax Consultancy
• Equity merchant banking
• Corporate advisory
• Corporate finance
• Project finance
• Investment advisory
• Mutual fund distribution
• Security broking
• Equity broking
• Insurance broking
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• Valuation Services
• Bond broking
In order to know about theoretical framework, it has been discussed in details in the
following chapter.
CHAPTER –
3
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THEORETICAL FRAMEWORK
 DEFINITION AND CLASSIFICATION OF EISK
 COMPONENTS ON RISK TAKING
 PROCEDURE OF RISK MANAGEMENT
 RISK RETURN MATRIX
 FINANCIAL PLANNING
 BUDGETING
THEORETICAL FRAMEWORK
3.1 - RISK
Risk is the uncertainty concerning the occurrence of loss.
“it is a part of our life”. No one can escape it. When risk
occurs, it comes with its concomitant perils. In the case of the life, if
someone dies, the family may suffer. In case of property- business or
personal- it may impact the business or household. Therefore, what
can be done to remove or reduce the economic impact of the risk?
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A timely planning and going in for protection against
various types of risks through a variety of insurance policies can help
an individual in protecting one’s wealth.
Classification of risk
Pure risk:
It is defined as a situation where there is only a loss or no loss

(neutral). There cannot be any gain in this situation. Like premature
death or medical expenses or damage to property by fire.
Speculative risk:
It is defined as a situation where the outcome can be loss or no loss or

gain from the event. Like investment in property or investment in
share market.
3.2 - TWO COMPONENTS ON RISK TAKING
In our country most of the people are willing to take risk. They will say
that they are risk takers , they have high Risk appetite , they love
challenge, and all kind of nonsense. But they forget to consider their
“Ability to take risk”. Its not important enough whether you are willing
to take risk or not , your situation should also allow you to take risk.
Ignoring your “Ability to take risk” can lead to situation like above
example.
1. Willingness to Take Risk: This depends on our inherent

nature, our attitude towards life, finance domain, Knowledge of
financial products etc. Our whole upbringing will contribute
towards this, because our willingness to take risk will depend on
our inherent self , who we are from inside . So you can either be
extra cautious by nature and may not be willing to take risks or
you can be a big risk taker who is willing to sell his pants and bet
money on anything. This is answer to “Can you take risk ?”
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2. Ability to Take Risk: This is the next important part in Risk
taking. Does your situation allow you to take risk or not? It has
nothing to do with your willingness to take risk , you can be very
much a risk taker and dieing to bet on the next multibagger or
invest in that 100% return a year mutual fund , but you have to
consider a worst case at the end. You have to visualize the worst
case as if it has happened after you take that risky decision . This
is answer to “Shall you take the risk ? “
3.3 - PROCEDURE OF RISK MANAGEMENT:
Risk avoidance- involving the elimination of a threatened

financial loss
Risk reduction- Involving strategies to minimize the amount of

loss if a loss does occur.
Risk transfer- sharing the burden of loss Means use of third

party like insurance.
Risk retention- retention of risk for higher return in future,

because high risk involve high return
3.4 – RISK RETURN MATRIX
HIGHER RISK HIGHER RISK
LOWER RETURN HIGHER RETURN
EQUIT
Y
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LOWER RISK LOWER RISK
LOWER RETURN HIGHER RETURN

BANK FD
MUTUAL
FUND
POSTAL
SAVING
(Source—Adopted from “NIVESHAK Mpowered ……N-FAP STUDY MATERIAL”)
Risk returns matrix/ tradeoff
The risk and return tradeoff indicates if investors want a high return,
he have to take high risk also and vise versa.
3.5 – FINAMCIAL PLANNING
Financial decisions are the basis to most of what we do in our lives.

Poor financial decisions can cause great anxiety and can also lead to
bankruptcy, whereas a well thought out sound financial decisions can
lead to a prosperous lifestyle.
People face many problems regarding finance; there are

some techniques to overcome those situations. These are:
>Manage and pay their debs
>Saving for their children
>How to take maximum of the tax benefit
>Saving for their retirement
>Reducing their risk through insurance
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Financial Planning is the process of identifying a person’s
financial goal, evaluating existing resources, and designing the
financial strategies that help the person to achieve goals.
Financial Planning or Advisory is a profession which

requires good communication skill and well knowledge of products and
services and working of financial service industry. As a financial
planner one can work in a bank, insurance company, a broker house,
tax consultant or have practice privately on his/her own.
Understanding Financial Planning
We need to understand the important of financial planning and its

advantages. The following highlights the importance of financial
planning:
--To protect yourself and your loved ones against financial risk
--To achieve the best possible lifestyle, suitable to your income

streams.
--To plan for the best possible education to children
--To build up adequate corpus for your long term goals
--To be able to retire when you want to and want
It’s important to see if we can achieve the lifestyle we yearn for,

such a dream home, that snazzy car, educating children well or
the biggest dream of all to retire early and enjoy life peacefully.
3.6 - BUDGETING
budgeting is a process for tracking, planning, and controlling the inflow

and outflow of income. Relying solely on our overworked and
overloaded minds to manage such a complex process has many short
comings. The solution is to analyze our current situation, determine
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your goals, and develop a written plan against which you will measure
your progress.
Work of budgeting process
The budgeting process begins with gathering data that makes up your
financial history. next, you use this information to do a cash flow
analysis. you will calculate your net cash flow, which tells you cash is
coming in faster than its going out, or vice versa. Then you will
determine your net worth. Having a snapshot of your present financial
condition, you will define your financial objectives and create a
spending plan to achieve them. Finally, you will periodically check your
progress against the plan and make adjustments as needed.
THE BUDGETING PROCESS
1 2 3
Calculate Determine Define
cash Flow Net worth objectives
4 5 6
Create Check Make
spending Progress adjustment
plan
(Source—Adopted from “NIVESHAK Mpowered ……N-FAP STUDY MATERIAL”)
Indication of a Budget
• Are you lnco
• Your current spending pattern is satisfactory or not?
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• Do your savings and investment suffice amounts to satisfy your
financial goal?
• Is there need of any changes in your financial planning?
Steps of a Budget
1. Estimate future net income for the period of the budget.
2. Determine expected Expenditure during the period of budget.
3. Determine what you expect to spend to your fund your

personal goals.
4. Determine whether there is a surplus or a deficit.
5. Record your actual income and expenditure.
6. Evaluate whether changes in saving and spending are

necessary.
In order to know about development of hypothesis, it has been

discussed in detail in the following chapter.
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CHAPTER –
4
DEVELOPMENT OF
HYPOTHESIS
DEVELOPMENT OF HYPOTHESIS
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Rate of return
There are different rate of return offered by the company but more
rate of return is more risky. To know the perception about rte of return
of return this hypothesis is developed.
H1: Preferences influence the rate of return.
Investment Goal
There are different investors have different investment goal.

Investment goal may be growth and income, grow faster than inflation
and also provide some income, grow as fast as possible if there is no
income today, preserve my original investment. To know perception
about investment goal this hypothesis is developed.
H2: All the defined investment goals are equally important.
Downward fluctuation in investment portfolio
In capital market invested money grows rapidly but risk is high in the
capital market. Sometimes money also decreases. Investors feel very
uncomfortable when downward fluctuation arises in investment
portfolio. To find perception about how large downward fluctuation in
investment portfolio, investors feel very uncomfortable following
hypothesis is developed.
H3: Feelings influence the categories of downward fluctuation

in the value of investment portfolio.
Asset Allocation
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There are different asset allocation categories, some of investor want
to more invest in equity and very low percentage in debt they are high
risk taker investor. Some of investor want very high percentage invests
in debt and very low percentage in equity market. To know the
investors perception about asset allocation categories following
hypothesis is developed.
H4: All the asset allocation compositions are equally preferred

by the investors.
Relationship among the factors which include Investment goal,

Annual income, Occupation, Asset allocation and Annual rate
of return
There is a need to investigate the relationship among the factors which

include Investment goal, Annual income, Occupation, Asset allocation
and Annual rate of return.
H5: Investment goal influence the customers involved in

different occupation.
H6: Asset allocations are influenced by the nature of

occupation.
H7: Perception on annual on rate of return is influenced by

occupation.
H8: Perception on investment goal is influenced by asset

allocation.
H9: Preferences on investment goal is influenced by annual

income.
H10: Preferences on asset allocation is influenced by annual

income.
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In order to know about research methodology, it has been discussed in
detail in the following chapter.
CHAPTER –
5
RESEARCH
METHODOLOGY
 LOCALE OF STUDY
 METHOD OF SAMPLE SELECTION
 TECHNIQUES OF DATA COLLECTION
 TOOLS OF DATA COLLECTION
 DEVELOPMENT OF QUESTIONNAIRE
 TYPES OF DATA SOURCES
 METHODS OF PROCESSING DATA AND TOOLS
USED
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 PROBLEM FACED IN DATA COLLECTION
RESEARCH METHODOLOGY
5.1 LOCALE OF STUDY
As the time and the cost are the two main constraints in this research
so it is not possible to consider the whole pouch milk market so the
survey was conducted in Durgapur only.
5.2 METHODS OF SAMPLE SELECTION

With in the stipulated time it is not possible to collect data from all the
consumers so I have chosen the sampling process.
i. Sampling technique: The data collected from the samples in
Random sampling process. It is the process of selection of a group of
units in such a manner that every unit of population has an equal
chance of being included in the sample.
ii. Sample size: It denotes the number of elements to be included in
the study. Due to time constraints the sample size chosen is very
small. The total no of sample is 40.
5.3 TECHNIQUES OF DATA COLLECTION
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Once sampling plan has been determined, the marketing researcher
must decide how the subject should be conducted.
The method of data collection is survey method. In this survey the
personal interview method is adopted as a technique of data collection
as it is a versatile method. And through it more questions can be asked
and records of additional observations become easier from the
respondents.
5.4 TOOLS OF DATA COLLECTION.

In this survey the main tool of collecting primary data from the
investors is
Questionnaire as this is the most common instrument used to collect
data and the form of question can influence the response. The
questions were then prepared in order to fulfill the information
requirements as identified earlier in the study objectives... All the
questions in the questionnaire are close-ended.
5.5 DEVELOPMENT OF QUESTIONNAIRE

Questionnaire is developed according to the problem of the research.
In this research data collected in nominal scale.
5.6 TYPE OF DATA SOURCES

A researcher can gather primary data, secondary data or both.
PRIMARY DATA are data freshly gathered for a specific purpose.
SECONDARY DATA are data that were collect for other purpose and
already exist somewhere.
i. Primary data: In this research the primary data are collected
from the respondents through the survey conducted. These data are
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collected for analyses purpose and from the analysis of those data the
inferences is drawn.
ii. Secondary data: In this research the secondary data are those
data which are collected from the Internet, different books, journals,
etc. These data are collected for the purpose that which are the key
variables that can influence the investors risk taking perception
towards Financial Products.
5.7 METHODS OF PROCESSING DATA AND

TOOLS
USED
After the data collection the very next step is the processing of data.
For that the data are tabulated in the particular form of the
questionnaire. Then by Hypotheses testing and with the help of
different chart representation the inferences is drawn the inferences
based on each question. Mainly the Statistical tools are used here for
hypothesis testing are –
(1) Chi-square test of goodness of fit - This test is conducted to
identify the consumers preference is same or not across the different
variables.
(2) Chi-square test of independence – This test is conducted to
identify which factor is influenced by which factor.
5.8 PROBLEM FACED IN DATA COLLECTION
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There are following problem faced in data collection.
• Time problem
• Language problem
• Poor interaction by respondent
In order to know the data analysis and result, a comprehensive

research plan has been framed which is discussed in details in the
following chapter.
CHAPTER –
6
29
DATA ANALYSIS &
RESULTS
• DATA TABULATION
• DATA ANALYSIS & RESULTS
• SUMMARISED TABLE
6.1 - DATA TABULATION

(1)Occupation—
Types of occupation Frequency %
(A) Govt. Employee 11 27.5
(B) Corporate Employee 02 5
(C) Practicing Professional 02 5
(D) Enterpreaneur 24 60
(E) Retired 01 2.5
Total 40 100
Chart
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Occupation %
Govt Employee
corporate employee
practicing professional
enterpeeaneur
retired
(2) Annual Income:

Income Level (Rs.) Frequency %
(A) > 200000 27 67.5
(B) 200000 to 400000 13 32.5
(C) 400000 to 600000 0 0
(D) 600000 to 1000000 0 0
(E) <1000000 0 0
Total 40 100
Annual Income %
<200000
200000 to 400000
400000 to 600000
600000 to 1000000
>1000000
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(3) Monthly Household Expenditure
Expenditure Level Frequency %
(A) <15000 26 65
(B) 15000 to 25000 13 32.5
(C) 25000 to 40000 1 2.5
(D) 40000 to 50000 0 0
(E) >50000 0 0
Total 40 100
Monthly household expenditure %
<15000
15000 to 25000
25000 to 40000
40000 to 50000
>50000
(4) Have you taken any life insurance policy for yourself?
Life insurance policy by respondent Frequency %
Yes 30 75
No 10 25
Total 40 100
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Life Insurance Policy taken %
Yes
No
(5) If yes, Annual premium of life insurance policy.

Annual premium Level (Rs.) Frequency %
<5000 10 33
5000 - 10000 2 7
10000 - 15000 14 46
15000 - 20000 2 7
>20000 2 7
Total 30 100
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Annual premium %
<5000
5000 - 10000
10000 - 15000
15000 - 20000
>20000
(6) Do you have any loan for which you are paying monthly
installments?
Do you have any loan Frequency %
Yes 6 15
No 34 85
Total 40 100
Do you have any loan %
Yes
No
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(7) Do you have some savings that you can use in emergency?
Do you have any emergency savings Frequency %
(A) No, I do not have any emergency savings 11 27.5
(B) Yes, I have, but it is small and would like to 14 35

have more
(C) Yes, I have sufficient emergency savings 15 37.5
(D) I have sufficient emergency savings, but can 0 0

consider more
Total 40 100
Do you have emergency savings %
A
B
C
D
(8) I think a reasonable annual rate of return for my portfolio

investment would be
Level Frequency %
(A) 6% – 8% 0 0
(B) 9% - 11% 14 35
(C) 12% – 15% 23 57.5
(D) More than 15% 3 7.5
Total 40 100
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Perception about rate of return %
A
B
C
D
(9) My most important investment goal is to

Investment goal Frequency %
(A) Preserve my original investment 0 0
(B) Receive some growth and provide income 14 35
(C) Grow faster than inflation and also provide 24 60

some income
(D) Grow as fast as possible even if there is no 2 5

income today
Total 40 100
Investment goal %
A
B
C
D
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(10) How large a drop (or downward fluctuation) in the value
of your investment portfolio would you be prepared to see
before you start feeling very uneasy or uncomfortable
Level of downward fluctuation in investment Frequency %
portfolio
(A) Less than 15% 11 27.5
(B) More than 15% but less than 25% 24 60
(C) More than 25% but less than 40% 5 12.5
(D) More than 40% 0 0
Total 40 100
How laege a downward flucttuation in your in vsstment portfolio before start feeling
very uncomfortable %
A
B
C
D
(11) Tell us about your investment preferences and

perceptions
Asset Allocation Risk Return Frequency %
(A) Debt 80%, Cash 20%, Very Low 6 15

Equity 0%
(B) Debt 75%, Cash 10%, Low 13 32.5

Equity 15%
(C) Debt 50%, Cash 10%, Moderate 17 42.5

Equity 40%
(D) Debt 35%, Cash 10%, Above Average 4 10

Equity 55%
(E) Debt 25%, Cash 10%, High 0 0

Equity 65%
Total 40 100
37
Risk Return Type %
A
B
C
D
E
38
6.2 - DATA ANALYSIS & RESULTS
H1: Preferences influence the rate of return.
Based on this hypothesis question no (1) is developed to identify

preferences about rate of return. So I want to do chi- square test
(Goodness of fit). Here total no. of sample is 40, so the expected no of
investors in all the four investment goal categories are 10.
H0: Preferences remains same across the rate of return level.
H1: Preferences change across the rate of return level.
Here critical value of chi-square = 7.815 with 3 degree of freedom at

5% level of significance.
Observed value = 17.4 with 3 degree of freedom.
Since observed value of chi- square is greater than critical value 7.815
at 5% level of significance with degree of freedom 3.
So the null hypothesis is rejected and the alternate hypothesis is

accepted.
Inference
So by the testing of hypothesis no. 1 we can say that all the rate of
return level are not equally preferable by the investors is statistically
significant at 5% level of significance.
39
H2: All the defined investment goals are equally
important.

preferences about investment goal. So I want to do chi- square test
(Goodness of fit). Here total no. of sample is 40, so the expected no of
investors in all the four investment goal categories is 10.
H0 : Preferences remains same across the investment goal categories.
H1 : Preferences change across the investment goal categories.


accepted.
Inference
So by the testing of hypothesis no. 2, we can say that all the

investment goal categories are not equally preferable by the investors
is statistically significant at 5% level of significance.
40
H3: Feelings influence the categories of downward
fluctuation in the value of investment portfolio.

feelings about categories of downward fluctuation in the value of
investment portfolio. So I want to do chi- square test (Goodness of fit).
Here total no. of sample is 40, so the expected no of investors in all the
four categories is 10
H0: Preferences remains same across the rate of return level.
H1: Preferences change across the rate of return level.


accepted.
Inference
So by the testing of hypothesis no. 3 we can say that feelings changes

across the categories of downward fluctuation in the value of
investment portfolio is statistically significant at 5% level of
significance.
41
H4: All the asset allocation compositions are equally
preferred by the investors.

preferences about asset allocation categories. So I want to do chi-
square test (Goodness of fit). Here total no. of sample is 40, so the
expected no of investors in all the five compositions of asset allocation
is 8.
H0: Preferences remains same across the asset allocation categories.
H1: Preferences change across the asset allocation categories.
Here critical value of chi-square = 9.45 with 4 degree of freedom at 5%

level of significance.
Observed value = 19 with 4 degree of freedom.

accepted.
Inference
So by the testing of hypothesis no. 4 we can say that preferences

change across asset allocation categories.
42
TABLE – 6.1
Summarized Table
SL Statemen Null Alternati Observ Critic Hypothe
. t of Hypothe ve ed chi- al sis
No Hypothesi sis Hypothe square Chi- status
. s sis value squar
e
value
1 Preference Preferenc Preferenc 17.4 7.815 Reject

s influence es remain es change
the rate of same across
return. across the rate
the rate of return
of return level
level.
2 All the Preferenc Preferenc 37.6 7.815 Reject

defined es es change
investment remains across
goals are same the
equally across investme
important. the nt goal
investme categorie
nt goal s
categorie
s
3 Feelings Feelings Feelings 32.2 7.815 Reject

influence remain change
the same across
categories across the
of the categorie
downward categorie s of
fluctuation s of downwar
in the downwar d
value of d fluctuatio
investment fluctuatio n in the
portfolio. n in the value of
value of investme
investme nt
nt portfolio.
43
portfolio.
4 All the Preferenc Preferenc 19 9.45 Reject

asset es remain es change
allocation same across
compositio across the asset
ns are the asset allocation
equally allocation categorie
preferred categorie s
by the s.
investors.
H5: Investment goal influenced the customers

involved in different occupation.
preferences on rate of return are independent of occupation or not. So
I want to do chi- square test (chi-square test of independent). Here
total no. of sample is 40.
H0 : Preferences on investment goal are independent of occupation.
H1: Preferences on investment goal are not independent of

occupation.

Since observed value of chi- square is less than critical value 21.03 at
5% level of significance with degree of freedom 12.
So the null hypothesis is accepted and the alternate hypothesis is

rejected.
Inference
44
So by the testing of hypothesis no. 5 we can say that preferences on
investment goal are independent of occupation is statistically
H6: Asset allocations are influenced by the nature of

occupation.

preferences on asset allocation are independent of occupation or not.
So I want to do chi- square test (chi-square test of independent). Here
H0: Preferences on asset allocation are independent of occupation.
H1: Preferences on asset allocation are not independent of occupation.


rejected.
Inference
45
asset allocation are independent of occupation is statistically
H7: Preferences on annual rate of return is

influenced by occupation.

preferences on rate of return are independent of occupation or not. So
I want to do chi- square test (chi-square test of independent). Here
H0: Preferences on rate of return are independent of occupation.
H1: Preferences on rate of return are not independent of occupation.


rejected.
46
Inference

rate of return are independent of occupation is statistically significant
at 5% level of significance.
H8: Preferences on investment goal is influenced by

asset allocation.

preferences on investment goal are independent of asset allocation or
not. So I want to do chi- square test (chi-square test of independent).
Here total no. of sample is 40.
H0: Preferences on investment goal are independent of asset

allocation.
H1: Preferences on investment goal are not independent of asset

allocation.


accepted.
47
Inference

investment goal are not independent of asset allocation is statistically
H9: Preferences on investment goal is influenced by

annual income.

preferences on investment goal are independent of annual income or
H0: Preferences on investment goal are independent of annual

income.
H1: Preferences on investment goal are not independent of annual

income.

48
rejected.
Inference

investment goal are independent of annual income is statistically
H10: Preferences on asset allocation is influenced by

annual income.

preferences on asset allocation are independent of annual income or
H0: Preferences on asset allocation are independent of annual income.
H1: Preferences on asset allocation are not independent of annual

income.

49

rejected.
Inference

asset allocation are independent of annual income is statistically
TABLE – 6.2
Summarized Table
SL. Stateme Null Alternati Observ Critic Hypothe Find

NO nt of Hypothes ve ed chi- al sis outcome
. Hypothe is Hypothes square chi- status
sis is value squar
e
value
1 Investme Investmen Investmen 13.467 21.03 Accept Investmen

nt goal t goals are t goals are t goals are
influence independe not independe
the nt of independe nt of
customer occupatio nt of occupatio
s n occupatio n.
involved n
in
different
occupatio
50
n
2 Asset Asset Asset 24.942 26.30 Accept Asset

allocation allocations allocations allocations
s are are are not are
influence independe independe independe
d by the nt of nt of nt of
nature of occupatio occupatio occupatio
occupatio n. n. n.
n.
3 Perceptio Perception Perception 10.481 21.03 Accept Perception

n on on rate of on rate of on rate of
annual return is return is return is
rate of independe not independe
return is nt of independe nt of
influence occupatio nt of occupatio
d by the n occupatio n.
occupatio n
n
4 Perceptio Perception Perception 23.88 21.03 Reject Perception

n on on on on
investme investmen investmen investmen
nt goal is t goal is t goal is t goal is
influence independe not not
d by nt of asset independe independe
asset allocation. nt of asset nt of asset
allocation allocation. allocation.
.

n on on on on
investme investmen investmen investmen
nt goal is t goal are t goal are t goal is
influence independe not independe
d by nt of independe nt of
annual annual nt of annual
income income annual income.
income

n on on asset on asset on asset
asset allocation allocation allocation
allocation is is not is
is independe independe independe
influence nt of nt of nt of
d by annual annual annual
annual income. income. income.
income.
TABLE- 6.3
51
SUMMARIZED HYPOTHESIS STATUS
Hypothesis Statistical Tools Find outcome
Descriptiv Inferential
e Statistic Statistic
H1 : Preferences %, Chi-square Preferences change

influence rate of Frequency goodness of across the rate of
return Count fit return level.
H2 : All the defined %, Chi-square Preferences change

investment goals Frequency goodness of across the
are equally Count fit investment goal
important categories.
H3: Feelings %, Chi-square Preferences change

influence the Frequency goodness of across the
categories of Count fit categories of
downward downward
fluctuation. fluctuation in the
value
H4: All the asset %, Chi-square Preferences change

allocation Frequency goodness of across the asset
compositions are count fit allocation
equally preferred by categories.
the investors.
H5: Investment goal Frequency Chi –square Investment goals

influence the count test of are not
customers involved independenc independent of
in different e. occupation.
occupation.
H6: Asset Frequency Chi-square Asset allocations

allocations are count test of are independent of
influenced by the independenc occupation.
nature of e.
occupation.
H7: Perception on Frequency Chi-square Perception on rate

annual rate of count test of of return is
return is influenced independenc independent of
by occupation. e. occupation.
H8: Perception on Frequency Chi-square Perception on

investment goal is count test of investment goal is
influenced by asset independenc not independent of
allocation. e. asset allocation.
H9: Perception on Frequency Chi-square Perception on
52
investment goal is count test of investment goal is
influenced by independenc independent of
annual income. e. occupation.
H10: Perception on Frequency Chi-square Perception on asset

asset allocation is count test of allocation is
influenced by independenc independent of
annual income. e. occupation.
In order to know the findings and conclusion, it has been discussed in detail in the
following chapter.
53
CHAPTER –
7
FINDINGS AND CONCLUSIONS
• FINDINGS
• CONCLUSIONS
FINDINGS AND CONCLUSIONS
54
7.1 - FINDINGS
• Preferences change across the rate of return level and
investment goal categories..
• Feelings change across the categories of downward fluctuation in

the value of investment portfolio.
• Preferences of investors are change across the asset allocation

categories.
• Investment goals are independent of occupation.
• Asset allocations are independent of occupation.
• Rate of return is independent of occupation.
• Perception on investment goal is not independent of asset

allocation.
• Perception on investment goal is independent of annual income.
• Perception on asset allocation is independent of annual income.
7.2 - CONCLUSIONS
There are many factors that can affect the individuals risk taking
perceptions. Some of important factors are – rate of return, investment
goal, and downward fluctuation in investment portfolio. Investment
goals are independent of occupation, meance in one occupation
category people may have different investment goal. Asset allocation
perception is also independent on occupation. In every occupation
categories there are different type of risk taker. It has been observed
that asset allocation is depending on the investment goal categories.
Investors in one type investment goal categories have same
perception about asset allocation. Same annual income categories
people may have different investment goal, and investment goal is
independent on occupation.
55
CHAPTER –
8
SUGGESTIONS
56
SUGGESIONS
On the basis of analyses & findings of the study some suggestions can
be put forwarded to the company are as follows:
• The company should pay more attention on the rate of return
preferred by the investors
• Company should provide financial product according the

investment goal of the investors.
• Company should provide different financial products for different

risk perception categories.
• Company should give more attractive advertisement through

different media for new financial product launched.
• The company should give more attention for knowledge of the

investors about different facilities of different financial products.
57
REFERENCES
BOOKS
• Kotler, Philip (2005) "Marketing Management", Pearson

Education (Eleventh Edition).
• Malhotra, N.K. (2005). “Marketing Research: An Applied

Orientation", Pearson Education (Fourth Edition)
• Richard I. Levin, David S Rubin (1997). "Statistics for

Management", Prentice Hall of India(seventh edition)
• Book of “NIVESHAK Mpowered ……N-FAP STUDT

MATERIAL”
WEBSITES
• http//www.jagoinvestor.com
• http//onlinelibrary.wiley.com
• http//www.iniveshak.com
58
APPENDICE
S
59
APPENDIX – 1
INVESTOR PROFILE QUESTIONNAIRE

1. Name
……………………………………………………………………………..
Address
…………………………………………………………………………...
2. D.O.B …………………………………………………………………………….
3. PAN ……………………………………………………………………………...
4. Occupation
(A) Govt. Employee (B) Corporate Employee (C) Practicing

Professional
(D) Enterpreaneur (E) Retired
5. Your Annual Income
(A) Upto Rs. 2 lacs p.a. (B) More than Rs. 2 lac but less than
Rs. 4 lacs p.a.
(C) More than Rs. 4 lacs but less than Rs. 6 lacs p.a.
(D) More than Rs. 6 lacs but less than Rs. 10 lacs p.a.
(E) More than Rs. 10 lacs p.a.
6. Are you married or not (A) Yes (B)

No
7. Spouse Name
………………………………………………………………………….
7.1 Spouse Date of Birth

………………………………………………………………
60
7.2 Spouse PAN Card No.
………………………………………………………………
7.3 Spouse Occupation
(A) Govt. Employee (B) Corporate Employee (C) Practicing

Professional
(D) Enterpreaneur (E) Retired
7.4 Spouse Annual Income
(A) Upto Rs. 2 lacs p.a. (B) More than Rs. 2 lac but less than
Rs. 4 lacs p.a.
(C) More than Rs. 4 lacs but less than Rs. 6 lacs p.a.
(D) More than Rs. 6 lacs but less than Rs. 10 lacs p.a.
(E) More than Rs. 10 lacs p.a.
8. Dependents’ Details (including dependents parents’)
.................................................................................................................
.................................................................................................................
..............................................................
9. Where does your monthly household expenditure falls?
(A) Less than Rs. 15000 p.m.
(B) Above Rs. 15000 but less than Rs. 25000 p.m.
(C) Above Rs. 25000 but less than Rs.40000 p.m.
(D) Above Rs. 40000 but less than Rs. 50000 p.m.
(E) Above Rs. 50000 per month
10. Do you own a house? (Yes/No)
61
10.1 If yes, how much a similar house at the same place will cost
today? Rs…lacs
10.2 Was it taken on Loan? Yes/No
10.3 If yes what is the EMI (monthly installment) per month Rs….p.m.
10.4 If No, when do you propose to buy one?
(A) Within next 3 years (B) Within next 3-5

years
(C) Within next 5-10 years (D) Within next 10-15

years
11. Do you have a car? (Yes/No)
11.1 If no, when do you propose to buy one?
(A) Within next 3 years (B) Within next 3-5

years
(C) Within next 5-10 years (D) Within next 10-15

years
12 When & how much money would you require for your
children’s Marriage?
(A) 1st Child - > Rs. ……… lacs – 5 years from now ( ) 10 years
from now ( )
15
years from now ( )
(B) 2nd Child - > Rs. ……… lacs – 5 years from now ( ) 10 years
from now ( )
15
years from now ( )
62
12.1 Any investment made by you for meeting the expenditure of
children’s education?
……………………………………………………………………..
13. When & how much money would you required for your
children’s Marriage?
(A) 1st Child - > Rs. ……… lacs – 5 years from now ( ) 10 years from
now ( )
15
years from now ( )
(B) 2nd Child - > Rs……….. lacs – 5 years from now ( ) 10 years from
now ( )
15
years from now ( )
14. When do you plan to retire? At the age of ……...years / or

after …….years from now .
15. Is your current occupation pensionable? Yes/No
15.1 If yes, how much pension would you get? Rs. …….. p.m.
15.2 If not, have you joined any pension plans to supplement or

provide you income post retirement? Yes/No
15.3 What investments are made for retirement needs?

……………………………
15.4 How much do you save annually to create a pension for yourself
(in addition to EPF/GPF? Rs. ……………..
15.5 Would you like to estimate the amount you will get from EPF/GPF
on retirement? …………………………
15.6 How much will be your monthly expense after retirement?

…………p.m.
63
16. Do you want the information about pension or do you want
someone to explain it to you? Yes/No
17. Have you taken any Life Insurance Policy for yourself?
17.1 If yes, how much is the value of sum assured?

………………………………..
17.2 How much is the annual premium?

…………………………………………...
18. Are you covered under any medical reimbursement scheme

or medical insurance scheme from your employer?
(A) Yes, I and my family are covered for 100% reimbursement
(B) No, medical reimbursement nor any medical insurance cover from
employer
(C) Yes, reimbursement or cover available from employer but only

partial
(D) Have my own medical insurance cover for myself and family
19. Do you have any loan for which you are paying monthly
installments? Yes/No If yes, give details
EMIs Rs. Purpose How many years more?
19.1
19.2
19.3
20. Do you have some savings that you can use in emergency?
(A) No, I do not have any emergency savings
(B) Yes, I have, but it is small and would like to have more
64
(C) Yes, I have sufficient emergency savings
(D) I have sufficient emergency savings, but can consider more
21. I think a reasonable annual rate of return of my portfolio

investment would be
(A) 6% - 8% (B) 9% - 11% (C) 12% - 15% (D)

More than 15%
22. My most important investment goal is to
(A) Preserve my original investment
(B) Receive some growth and provide income
(C) Grow faster than inflation and also provide some income
(D) Grow as fast as possible even if there is no income today
23. What percentage of your cash and bank balance you plan
to invest now?
(A) Less than 25% (B) More than 25% but

less than 50%
(C) More than 50% but less than 75% (D) More than 75%
24. When is the earliest you anticipate needing all or a

substantial portion of your investment assets?
65
(A) < 1 Years (B) 1 to 2 years (C) 2 to 5 years (D) More
than 5 years
25. In the past, which of the following products or instruments

have you invested in (you can select all)?
(A) Fixed Deposits and/or Money Market Funds
(B) Govt./Securities & Corporate Bonds (or Company Fds)
(C) Mutual Funds
(D) Shares or Equity or Derivatives
26. How large a drop (or downward fluctuation) in the value of

your investment portfolio would you be prepared to see before
you start feeling very uneasy or uncomfortable
(A) Less than 15% (B) More than 15% but

less than 25 %
(C) More than 25% but less than 40% (D) More than 40%
27. What is your expectation from the Financial Advisor who

helps you in making various investments?
(A) He/She should explain to me the details of the product where I

want to make investment and help me in drawing comparison
with match in products
(B) He/She need not explain to me the details of the product where I
want to make investment, since I know all about the investments
(C) He/She should give me full details of the product, help me in

depositing the form and help me in tracking my investment (after the
investment is made)
(D) He/She should simply deliver me the application form, collect it

from me and deposit it
66
28. Are you willing to pay a fee to your Financial Advisor?
(A) Yes, because they deserve it for assisting me
(B) No, they do not deserve it since they are helping in only filling in
and depositing the application
29. If you are comfortable in paying a fee to your financial

advisor (or the agent), how much you would like to pay?
(A) A fixed sum every time he/she helps me in making an investment

or a transaction
(B) A certain percentage of the amount of investment
(C) Higher the amount for a small amount of investment and lower the
amount for higher amount of investment
30. Do you want assistance in filling your income tax returns?
(A) Yes, I want help. Please ask your representative to contact me.
(B) No, I do not want any help
31. Tell us about your investment preferences and perceptions
If you were to make your own portfolio of investments/savings, which

of the followings will be close to your comfort level? (assuming the
investment horizon is around 3 years)
67
Asset Risk Projected Portfolio
Allocation Return Return type
(maximu
m/minimum)
Debt 80%, Very Low 7% 7% Cash & A

Cash 20%, Income
Equity 0%
Debt 75%, Low 8% 6% Income B

Cash 10%,
Equity 15%
Debt 50%, Moderate 12% 7% Balanced C

Cash 10%,
Equity 40%
Debt 35%, Above 18% 5% Growth D

Cash 10%, average
Equity 55%
Debt 25%, High 25% 3% High E

Cash 10%, Growth
Equity 75%
32. My immediate interest is for:
A. Complete Financial Planning ( ) B. A particular product

………….
C. Goal achievement planning ( ) D. Investments (lump

sum/SIP)( )
68
APPENDIX - 2
TABLES
TABLE NO. - 1
For test of H1:
Level of rate of return Observed Expected

frequency frequency
(A) 6% - 8% 0 10
(B) 9% - 11% 14 10
(C) 12% - 15% 23 10
Total 40 40
TABLE NO. - 2
For test H2:
Investment goal categories Observed Expected

frequency frequency
(A) Preserve my original investment 0 10
(B) Receive some growth and provide 14 10

income
(C) Grow faster than inflation and also 24 10

provide some income
(D) Grow as fast as possible even if 2 10
69
there is no income today
Total 40 40
TABLE NO. - 3
For test of H3:
Categories Observed Expected

Frequency Frequency
(A) Less than 15% 11 10
(B) More than 15% but less than 25% 24 10
(C) More than 25% but less than 40% 5 10
Total 40 40
TABLE NO. - 4
For test of H4:
Categories of Asset allocation Observed Expected

Frequency Frequency
(A) Debt 80%, Cash 20%, Equity 0% 6 8
(B) Debt 75%, Cash 10%, Equity 15% 13 8
(C) Debt 50%, Cash 10%, Equity 40% 17 8
(D) Debt 35%, Cash 10%, Equity 55% 4 8
(E) Debt 25%, Cash 10%, Equity 65% 0 8
Total 40 40
70
TABLE NO. - 5
For test of H5:
Investme A B C D
nt
Goal
Occupation
A 0 3 8 0
B 0 0 1 1
C 0 0 2 0
D 0 11 12 1
E 0 0 1 0
TABLE NO. - 6
For test of H6:
Asset Allocation A B C D E
Categories
Occupation
A 3 7 1 0 0
B 0 1 0 1 0
C 0 1 1 0 0
D 2 4 15 3 0
71
E 1 0 0 0 0
TABLE NO. - 7
For test of H7:
Preferences on rate A B C D
Of return
Occupation
A 0 6 5 0
B 0 1 0 1
C 0 1 1 0
D 0 6 16 2
E 0 0 1 0
TABLE NO. - 8
For test of H8:
Investment Goal A B C D
Asset Allocation
A 0 4 2 0
B 0 3 10 0
C 0 7 10 0
D 0 0 2 2
E 0 0 0 0
72
TABLE NO. - 9
For test of H9:
Investment A B C D
Goal
Annual Income
A 0 12 13 2
B 0 2 11 0
C 0 0 0 0
D 0 0 0 0
E 0 0 0 0
TABLE NO. - 10
For test of H10:
Asset Allocation A B C D E
Annual Income
A 3 6 14 4 0
B 3 7 3 0 0
C 0 0 0 0 0
D 0 0 0 0 0
E 0 0 0 0 0
73
74

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CHAPTER-1

The project report is an essential feature of the “Masters of Business

1.2 - SIGNIFICANCE OF THE STUDY

1.3 - OBJECTIVES OF THE STUDY:

1.4 - LIMITATION OF THE STUDY

There have been a number of limitations because of which the survey

1.4 - SCOPE OF THE STUDY

• Analytical study of different financial products.

• Customer awareness about financial products.

Niveshak is an initiative of SPA Capital Services Ltd. and Acsys Software

SPA Capital Service Ltd

SPA Group promoted in 1995, by a team of financial professionals,

SPA Group has established itself as one of India's leading

SPA Capital Services Ltd. is a flagship company of SPA Group, engaged

The company has a distribution network of over 200 sub-

is a leading Technology and Software Solution Provider in the niche

In addition, Acsys has a large pool of in-house expertise to continually

CAMS is India's largest Transfer Agency for Open Ended Funds

Acsys Software products for Asset Management Companies,

• Substantial knowledge of business and domain of the Mutual

• Its Software Products and services are put through extreme

• It operates in a dynamic environment dictated by enormous

• Demonstrated capabilities overseas, through offshore

• Members of NICSA and ALFI, leading Fund Forums in US and

• Multi-currency functionality to include Euro compliancy.

Acsys has a library of core products, which meets the software

2.3 - BOARD MEMBERS OF COMPANY

Mr. Kamal Somani, FCA

Mr. Sandeep Parwal, B.Com (Hons), FCA,

Mr. Shanks is also a Director at Acsys Software., which is a

2.4 - Niveshak Financial Advisory Program

NML believes that large scale employment opportunities

This Internship not only offers a strong opportunity to learn

Niveshak Interaction Program - Objectives

To ensure the delivery of "Investor.Education@home" and

This program seeks to develop a vocational skill by providing

SPA believes in attaining customer satisfaction, on continuing

-Dedicated, competent and honest team of professionals

2.7 TYPES OF SERVICES PROVIDED BY GROUPS

Risk is the uncertainty concerning the occurrence of loss.

It is defined as a situation where there is only a loss or no loss

It is defined as a situation where the outcome can be loss or no loss or

3.2 - TWO COMPONENTS ON RISK TAKING

1. Willingness to Take Risk: This depends on our inherent

3.3 - PROCEDURE OF RISK MANAGEMENT:

Risk avoidance- involving the elimination of a threatened

Risk reduction- Involving strategies to minimize the amount of

Risk transfer- sharing the burden of loss Means use of third

Risk retention- retention of risk for higher return in future,

3.4 – RISK RETURN MATRIX

HIGHER RISK HIGHER RISK

LOWER RETURN HIGHER RETURN

LOWER RETURN HIGHER RETURN

(Source—Adopted from “NIVESHAK Mpowered ……N-FAP STUDY MATERIAL”)

Risk returns matrix/ tradeoff

3.5 – FINAMCIAL PLANNING

Financial decisions are the basis to most of what we do in our lives.

People face many problems regarding finance; there are

>Manage and pay their debs

>Saving for their children

>How to take maximum of the tax benefit

>Saving for their retirement

>Reducing their risk through insurance