ABSTRACT

Selection of right sets of projects is considerably critical for organizations to successfully achieve their competitive advantages and corporate strategies. Due to limited resources and dynamic changes in business environment, this kind of selection is quite challenging for organizations. Beside one hundred selection tools and techniques, academics and practitioners have studied and recommended complex selection frameworks to facilitate the selection of right projects. However, these theoretical frameworks are not applied by private corporations in Vietnam. Therefore, this dissertation is intended to better understand the academic and practical literature about project portfolio selection; study current practices of project selection that private corporations in Vietnam are using; and propose a framework that is beneficially adaptable to these private corporations. A multiple-case study strategy accessing qualitative data through observations and semi-structure interviews is designed to investigate how private corporations select their project portfolio under the current contexts of booming economy in Vietnam to ensure successful realization of their growth and development strategy. The recommendations resulted from literature review and investigations do not only support the investigated corporations to improve the quantity and quality of their investment project portfolio(s) but also facilitate possible adaptation to project portfolio selection by other private corporations.

CONTENTS
Chapter No. Name of the concept Introduction Need of the study Objectives of the study I Scope of the study Methodology of the study Limitations of the study II III IV Review of Literature Company Profile Data analysis and interpretation Findings V Suggestions Conclusions VI Bibliography Page No.

Introduction;
Portfolio management refers to the art of managing various financial products and assets to help an individual earn maximum revenues with minimum risks involved in the long run. Portfolio management helps an individual to decide where and how to invest his hard earned money for guaranteed returns in the future. A collection of investments all owned by the same individual or organization. These investments often include stocks, which are investments in individual businesses; bonds, which are investments in debt that are designed to earn interest; and mutual funds, which are essentially pools of money from many investors that are invested by professionals or according to indices. Risk/return plot and Pareto-optimal portfolios (in red) The term portfolio refers to any collection of financial assets such as stocks, bonds, and cash. Portfolios may be held by individual investors and or managed by financial professionals, hedge funds, banks and other financial institutions. It is a generally accepted principle that a portfolio is designed according to the investor's risk tolerance, time frame and investment objectives. The monetary value of each asset may influence the risk/ reward ratio of the portfolio and is referred to as the asset allocation of the portfolio. When determining a proper asset allocation one aims at maximizing the expected return and minimizing the risk. This is an example of a multi-objective optimization problem: more "efficient solutions" are available and the preferred solution must be selected by considering a tradeoff between risk and return. In particular, a portfolio A is dominated by another portfolio A' if A' has a greater expected gain and a lesser risk than A. If no portfolio dominates A, A is a Pareto-optimal portfolio. The set of Pareto-optimal returns and risks is called the Pareto Efficient Frontier for the Markowitz Portfolio selection problem There are many types of portfolios including the Market Portfolio and the Zero-Investment Portfolio. A portfolio's asset allocation may be managed utilizing any of the following investment approaches and

The objective of portfolio management is to invest in securities is securities in such a way that one maximizes ones returns and minimizes risks in order to achieve ones investment objective. A good portfolio should have multiple objectives and achieve a sound balance among them. Any one objective should not be given undue importance at the cost of others. Presented below are some important objectives of portfolio management. 1. Stable Current Return: Once investment safety is guaranteed, the portfolio should yield a steady current income. The current returns should at least match the opportunity cost of the funds of the investor. What we are referring to here current income by way of interest of dividends, not capital gains. 2. Marketability: A good portfolio consists of investment, which can be marketed without difficulty. If there are too many unlisted or inactive shares in your portfolio, you will face problems in encasing them, and switching from one investment to another. It is desirable to invest in companies listed on major stock exchanges, which are actively traded. 3. Tax Planning: Since taxation is an important variable in total planning, a good portfolio should enable its owner to enjoy a favorable tax shelter. The portfolio should be developed considering not only income tax, but capital gains tax, and gift tax, as well. What a good portfolio aims at is tax planning, not tax evasion or tax avoidance. 4. Appreciation in the value of capital: A good portfolio should appreciate in value in order to protect the investor from any erosion in purchasing power due to inflation. In other words, a balanced portfolio must consist of certain investments, which tend to appreciate in real value after adjusting for inflation. 5. Liquidity: The portfolio should ensure that there are enough funds available at short notice to take care of the investors liquidity requirements. It is desirable to keep a line of credit from a bank for use in case it becomes necessary to participate in right issues, or for any other personal needs.

6. Safety of the investment: The first important objective of a portfolio, no matter who owns it, is to ensure that the investment is absolutely safe. Other considerations like income, growth, etc., only come into the picture after the safety of your investment is ensured. Investment safety or minimization of risks is one of the important objectives of portfolio management. There are many types of risks, which are associated with investment in equity stocks, including super stocks. Bear in mind that there is no such thing as a zero risk investment. More over, relatively low risk investment give correspondingly lower returns. You can try and minimize the overall risk or bring it to an acceptable level by developing a balanced and efficient portfolio. A good portfolio of growth stocks satisfies the entire objectives outline above. Principles equally-weighting, capitalization-weighting, price-weighting, Risk parity, Capital asset pricing model, Arbitrage pricing theory, Jensen Index, Treynor Index, Sharpe Diagonal (or Index) model, Value at risk model, Modern Portfolio Theory and others. There are several methods for calculating portfolio returns and performance. One traditional method is using quarterly or monthly money-weighted returns, however the true time-weighted method is a method preferred by many investors in financial markets. There are also several models for measuring the Performance Attribution of a portfolio's returns when compared to an Index or benchmark. partly viewed as investment strategy. Momentum Investment Strategies, Portfolio Performance, and Herding: A Study of Mutual Fund Behavior. Mark Grinblatt, Sheridan Titman, Russ Wermers The American Economic Review, Vol. 85, No. 5 (Dec., 1995), pp. 1088-1105 An artist's portfolio is an edited collection of their best artwork intended to showcase an artist's style or method of work. A portfolio is used by artists to show employers how versatile they can be by showing different samples of current work. Typically, the work reflects an artist's best work or a depth in one area of work. Historically, Portfolios were printed out and placed into a book. With the increased use of the internet and email however, there are now websites that host online portfolios such as Pippa They are also available to a wider audience.

A key component is the editing of work. Regardless of the depth of an artist's, the editing process allows for a clean, concise presentation to the intended audience. You can add from basic knowledge of your art in your visual like resume in portfolio. Sometimes, an artist portfolio can be referred to as a lookbook. When creating a portfolio, it is vital to consider your audience. You must consider who will see it, why they are looking at it, and what you are trying to accomplish with it.

Need of the study:

Portfolio management or investment helps investors in effective and efficient management of their investment to achieve this goal. The rapid growth of capital markets in India. Opened up new investment avenues for investors. The stock markets have become attractive investment options for the common man. The need is to be able to effectively and efficiently manage investments in order to keep maximum returns with minimum risk. Hence this study on PORTFOLIO MANAGEMENT & INVESTMENT DECISION Examine the role process and merits of effective investment management and decision.

Importance of the study

Considerable confusion surrounds both time-series and cross-sectional regressions and the importance of asset allocation. Cross-sectional regressions naturally remove market movements; therefore, the cross-sectional results in the literature are equivalent to analyses of excess market returns even though the regressions were performed on total returns. In contrast, time-series analyses of total returns do not naturally remove market movements. Time-series analyses of excess market returns and cross-sectional analyses of either total or excess market returns, however, are consistent with each other. With market movements removed, asset allocation and active management are equally important in determining portfolio return differences within a peer group. Finally, an examination of period-by-period cross-sectional results reveals why researchers using the same regression technique can get widely different result

Objectives of the study:

Portfolio management is technique of investing in securities. The ultimate object of investment in the securities is return. Hence, the first objective of portfolio management is getting higher return. Their object of portfolio management is that not only their current wealth is invested in the securities. Sometimes, some portfolio planning is done to obtain some tax savings. Inflation eats the value of money purchasing power. Their objective of portfolio planning would be that they get their money at that time.

Scope of the study:

A career in financial services is a lucrative career option today as job opportunities in financial services are growing rapidly in India. There is an increasing need for the financial expertise as a career in financial services includes various areas like corporate finance, commercial banking, insurance, investment banking, money management, real estate and financial planning. Jobs in financial services are available in government agencies and various corporations, national and international banks and financial institutions. It is a prosperous and secure career option. The candidate needs to apply his skills in quantitative analysis, strategic financial planning, investment management and sales. The applicant should have good mathematical skills, computer skills, knowledge of latest computer technology, analytical skills, leadership skills, communication skills including listening and writing, integrity, problem-solving and decisionmaking skills and organization skills. Proficiency in any foreign language is considered as additional qualification.

Methodology of the study:

Achieving accuracy in any research requires in depth study regarding the subject. As the prime objective of the project is compare various Investment products available in the market with the existing players in the market and the impact of entry of private players in the market, the research methodology adopted was basically based on primary data via which the most recent and accurate piece of first hand information that could be collected from all possible source. Secondary data was used to support primary data wherever needed. For the purpose of study, secondary data will be collected. The observational method is used to collect the primary data. The necessary data is also been collected from official records and other published sources. The collected data is classified, tabulated, analyzed and interpreted. Finally conclusion is draw based on the study and suggestions are offered to the company for increasing its customer base. Data Collection: There are two types of data collection 1. Primary data 2. Secondary data

Primary Data Primary data is personally developed data and it gives latest information and offers much greater accuracy and reliability. There are various sources for obtaining primary data i.e., Mail survey, personal interview, Field survey, panel research and observation approach etc. The study is dependent on primary data to a maximum extent, which is collected by way of structures personal interview with customers.

Secondary Data Secondary data is the published data. It is already available for using and its saves time. The mail source of secondary data are published market surveys, government publications advertising research report and internal source such as sales, sales records orders, customers complaints and other business record etc. the study has also depended on secondary data to little extent, which is collected through internal source.

Sources of Secondary Data: These source were use to obtain information on, Banks and other institutions history, current issues, policies, procedures etc, wherever required. Internet Magazines Newspapers Journals

Limitations of the study: The results obtained can not be generalized. The study in other major aspects can give more accurate results. The study is done only for a period of 45 days. Secondary Data may not be authentic in all the cases.

Review of Literature:

Industry Profile:
Cipla Limited is an Indian pharmaceutical company, probably best-known outside its home country for pioneering the manufacture of low-cost anti-AIDS drugs for HIVpositive patients in developing countries. It has played a similarly prominent role in expanding access to drugs to fight influenza, respiratory disease and cancer. Founded by nationalist Indian scientist Khwaja Abdul Hamied as The Chemical, Industrial & Pharmaceutical Laboratories in 1935, Cipla makes drugs to treat cardiovascular disease, arthritis, diabetes, weight control, depression and many other health conditions, and its products are distributed in virtually every country of the world. Founded prior to Indian independence by Khwaja Abdul Hamied on the principle that India needed to become self-sufficient in supplying medicine to its people, Cipla has always emphasized self-reliance and the right of all people to health and access to medicine, regardless of their economic circumstances or where in the world they happen to live. The company has become well-known internationally for its dedication to working according to these values and prioritizing a socially-conscious approach to its operations, and that for over 75 years. Apart from its presence in the Indian market, Cipla also has an export market and regularly exports to more than 185 countries in all corners of the world. Cipla cooperates with other enterprises in areas such as consulting, commissioning, engineering, project appraisal, quality control, know-how transfer, support, and plant supply. Struggle against HIV/AIDS in the developing world Cipla is the world's largest manufacturer of antiretroviral drugs[6] (ARVs) to fight HIV/AIDS, as measured by units produced and distributed (multinational brand-name drugs are much more expensive, so in money terms Cipla medicines are probably somewhere down the list). Roughly 40 percent of HIV/AIDS patients undergoing antiretroviral therapy worldwide take Cipla drugs. In February, 2001, Cipla stunned the HIV/AIDS and public health communities by announcing it would make its triple cocktail of antiretroviral drugs available in developing countries for $350 per patient per year, a tiny fraction of the prices prevailing internationally at the time. Ten years later, looking back on the decade of rapid growth in access which ensued, the Journal of the International AIDS Society (IAS) would write: Ciplas dramatic price reduction, which received widespread media attention, hammered the message home that many of the multinational drug companies were abusing their market monopoly in the face of a catastrophic human disaster. Indian law from 1972 until 2005 allowed no (end-product) patents on drugs, and provided for compulsory licensing, Cipla was able to manufacture medicines which enjoyed patent monopoly in certain other countries (particularly those where large, multinational pharmaceutical companies are based). By doing so, as well as by making an

executive decision not to make profits on AIDS medication, Cipla reduced the cost of providing antiretrovirals to AIDS patients from $12,000 and beyond (monopoly prices charged by international pharma conglomerates) down to under $100 per year. While this sum remains out of reach for many millions of people in Third World countries, government and charitable sources often are in a position to make up the difference for destitute patients. Cipla also pioneered a three-in-one tablet called Triomune containing a fixed-dose combination (FDC) of three ARVs (Lamivudine, stavudine and Nevirapine), something difficult elsewhere because the three patents were held by different companies. Another popular fixed-dose combination is produced under the name Duovir-N. This contains Lamivudine, Zidovudine and Nevirapine. Cipla manufactures generic versions of many of the most commonly prescribed anti-retroviral medication in the market,[10] and is a highly capable manufacturer in its own right. This innovation made ARVs far more accessible and easy-to-take for patients everywhere, but particularly in poor- and middleincome countries, where the vast majority of people on anti-retroviral therapy (ART) now take such combination pills. Cipla was among the first companies to register AIDS drugs under the US relief program PEPFAR.[11] It has also been a major supplier of ARVs to the Clinton Foundation's HIV/AIDS Initiative, which has negotiated low-cost drug supplies for numerous developing countries. Through its breakthrough price offers to developing country governments and leading NGOs such as Doctors Without Borders (MSF) and Oxfam, along with its keen participation in PEPFAR, the Global Fund, the Clinton Foundation's HIV/AIDS Initiative and other major donor programs fighting HIV/AIDS in Africa and elsewhere in the resource-poor world, Cipla has played an unparalleled leadership role in ensuring access to antiretroviral treatment (ART) rose from under 10,000 on the entire African continent at the time of its $350 per patient per year offer in 2001, to over 8 million in the developing world by 2012.

Antiflu and Virenza

In December 2008, Cipla won a court case in India allowing it to manufacture a cheaper generic version of oseltamivir, marketed by Hoffmann-La Roche (Roche) under the trade name Tamiflu, under the Cipla tradename Antiflu. In May 2009, Cipla won approval from the World Health Organization certifying that its drug Antiflu was as effective as Tamiflu, and Antiflu is included in the World Health Organization list of prequalified medicinal products. Cipla announced that Oseltamivir 75 mg capsules marketed as `Antiflu` by the company has been included in the World Health Organization (WHO) list of prequalified medicinal products (PMP). Oseltamivir is indicated for use in the treatment of influenza A (H1N1) infection commonly known as swine flu. Cipla also produces a generic version of zanamivir, marketed by Glaxo under the trade name Relenza, under the Cipla tradename Virenza. The New York Times reported that the government of Saudi Arabia

purchased stockpiles of Antiflu in preparation for Hajj in late 2009, fearing an outbreak of flu among Hajjis arriving from all parts of the world. The firm announced the launch of the drug under the name "Antiflu" on 11 November 2009 to be sold as a category X drug, strictly under prescription. Cancer medications. In May 2012, Cipla made headlines worldwide by slashing prices on several cancer drugs previously priced far out of reach to the vast majority of the world's population (cancer drugs are generally the most expensive category of pharmaceutical). [16] The Wall Street Journal quoted Cipla chairperson Yusuf Hamied as saying: "We had taken the lead to provide affordable medicine for AIDS and I think the time has now come -- 10 years later -- when we do a similar thing for cancer." The revised prices averaged roughly 75% less than the previous ones, and Hamied announced plans to similarly reduce prices on the full range of cancer drugs made by Cipla. The move was expected to prompt significant price drops from other producers, providing access to medicine and saving many millions of cancer patients unnecessary suffering and/or death.

Other drugs
Cipla also has a product range comprising antibiotics, anti-bacterials, antiasthmatics, anthelmintics, anti-ulcerants, oncology, corticosteroids, nutritional supplements and cardiovascular drugs. The company has at least nine different prescription drugs registered with the US FDA.[19] Active in the anti-bacterial and antiasthmatic segments, Cipla was the first in Asia to launch a non-CFC metered dose inhaler. In a September 2011 article, The New York Times discussed Cipla's efforts to radically lower costs of biotech drugs for cancer, diabetes and other non communicable diseases, and, referencing the leading role the company had played in getting low-cost AIDS drugs to developing world, the Times opined: In retrospect, the battle 10 years ago over AIDS medicines was a small skirmish compared with the one likely to erupt over cancer, diabetes and heart medicines. The AIDS drug market was never a major moneymaker for global drug giants, while cancer and diabetes drugs are central to the companies very survival. Company History Cipla: 1935 - The Company was Incorporated at Mumbai. 1979 - The Company acquired a plot of land from MIDC at Patalganga in Kulaba district of Maharashtra State about 55 kms. from Mumbai. - 18,773 Bonus equity shares issued in proportion 1:1. 1984- The name of the Company was changed from The Chemical Industrial & Pharmaceutical Laboratories Ltd., to the present one with effect from 20th July.

1985- 37,546 Bonus equity shares issued in proportion 1:1 in January 1986. 1986- During August, the Company obtained the consent of the Controller of Capital Issues to issue 3,00,000-15% secured non-convertible redeemable debentures of Rs 100 each aggregating to Rs 300 lakhs by private placement. The entire issue was subscribed by public financial institutions. They are redeemable at a premium of 5% during 1993-94. 1987- The Company launched several new products viz., Asthalin and Beclate Rotahalers/Rotacaps-dry powder inhalation devices for asthma, presolar capsules - the first synergistic combination of a beta blocker and a sustained release calcium channel blocker for hypertension, Restyl tablets - the first anxiolytic-cum-anti depressant, TheoAsthalin SR tablets - the first sustained release combination of two widely used bronchodilators, bromolin dry syrup and bromolin-250 capsules - antibiotic-cummucolytic agents, dilgard tablets - a new calcium channel blocker for angina, ibugesic plus suspension - a non steroidal anti inflammatory and anti-pyretic analgesic for paediatric use. - 75,092 Bonus equity shares issued in proportion 1:1. 1989- The latest drugs introduced during the year were (i) Ciplox tablets (250 & 500 mg.) and infusion (50 and 100 ml.), a broad spectrum fluoroquinolone antibacterial for severe infections, (ii) cefadur capsules (250 & 500 mg.) and syrup (30 ml.), a cephalosporin antibiotic, (iii) Ulcimax tablets (20 & 40 mg.), a long-acting H2 antogonist for peptic ulcers and (iv) theoped syrup, a paediatric bronchodilator. Sales in the Company's `PROTEC' division exceeded Rs 5.50 crores for the second year of its operations. 1990- The Company launched several new products viz., Aerocort inhaler, an antiinflammatory bronchodilator, Norflox eye/ear drops - a broad spectrum fluoroquinolone antibacterial, Pirox Gel - the first topical piroxicam formulation in the country, Cofenac tablets - an anti-infammatory analgesic, Kinetal 400 tablets - a multi-functional drug for vascular insufficiency, Novaclox Ped tablets - a dispensible combination antibiotics, Terfed tablets and Suspension - a new non-sedative antihistamine, Depryl tablets - a broad - spectrum antidepressant, Asthalin Respirator Solution - a bronchodilator for pressure ventilation in acute asthma. The Company spent Rs 4.22 crores on R&D and Rs 8.09 crores on modernisation and expansion of plant and machinery. 1991- The new products launched during the year were lomac capsules - a new antiulcerant, cromal inhaler - the first optimum - dose inhalant prophylactic for asthma, ciplox eye drops - the total bactericide for ocular infections, etosid injection - the first injection of indigenously manufactured etoposide for cancer therapy, proflox tablets - a key fluoroquinolone antibiotic and vasopril tablets - an ACE inhibitor for long-term management of hypertension. The research and development wing of the Company developed during the y ar felodipine - the latest anti-hypertensive drug, selegilinje - a new bulk drug for the treatment of Parkinson's disease, cetirizine HCI - an anti-histamine drug and nimodipine - a cerebral vasodilator. Work on the anti-AIDS drug AZT reached

an advance stage of development. The research and development wing also developed anthelmintics oxfendazole and oribendazole, two veterinary products for exports. - In May, 6,000 equity shares offered at par as rights to pref. shareholders in prop. 1:1. Only 5,216 shares taken up. Allotment of 5 equity shares pending. 1992- Some of the new products introduded were Zidovir capsules an antiretroviral for HIV injection, Cipril tablets for hypertension, Optipres eyedrops for glaucoma patients, Felogard for hypertension, Nodine, a non-narcotic analgesic, etc. 2007- Cipla unveils anti-malaria global initiative. -Set-up state-of-the-art facility for manufacture of formulations at Sikkim. -Award for the Forbes Asia's Best Under A Billion List! -Ciplas drug included in US anti-AIDS initiative -Anti-AIDS blitz sees pharma firms locked in ugly battle -Cipla launches emergency contraception tablet -Cipla launches estradiol transdermal spray in India -Cipla launches cut-price zanamivir in India -Cipla receives International Trade Awards 2006 for outstanding exporter of the year (Pharmaceuticals, Healthcare and Life Sciences category) 2008-Cipla Ltd has appointed Mr. Pankaj Patel as a Director in casual vacancy with effect from March 05, 2008. -Cipla launched Roche's generic version of anti-infection drug 2009-Cipla wins Erlotinib case against Roche -Pharmaceuticals Export Promotion Council Awards -Cipla launches drug to treat Swine flu virus -Cipla wins patent fight against Gilead Sciences 2010-Cipla Ltd acquired Meditab Specialities Pvt. Ltd. ("Meditab") for an aggregate consideration of Rs. 133.35 crores.

-Cipla Medpro has signed a deal with Biomab, a division of Chinese company Desano Pharma. -Cipla sold the marketing rights of i-Pill to Piramal Healthcare for Rs 95 crore in cash. -Cipla has tied up with the Manipal Group-promoted 'Stempeutics Research'. - Drug Maker Cipla has launched the generic Version of Pirfenidone, used to treat Idiopathic Pulmonary Fibrosis, a progressive Lung disease.India is the 2nd market to have this drug after Japan. 2011-Cipla Cancer Palliative Care Centre launched 24 hour helpline to offer counselling to ensure more people use of the free services available. 2012-Cipla India's second largest drug firm, has agreed to acquire South African Drugmaker Cipla Medpro with 51% stake amounts to $220 Million. -Cipla bags tentative approval for HIV treatment tablets -Drug giant Cipla Ltd has announced price reduction on 3 major anti-cancer drugs including Erlotinib (ERLOCIP), Docetaxel (DOCETAX) and Capecitabine (CAPEGARD). -Cipla bags award in the Field of Export of Pharmaceuticals during the year conferred the Highest Award 'Platinum. The objective of portfolio management is to invest in securities is securities in such a way that one maximizes ones returns and minimizes risks in order to achieve ones investment objective. A good portfolio should have multiple objectives and achieve a sound balance among them. Any one objective should not be given undue importance at the cost of others. Presented below are some important objectives of portfolio management. 1. Stable Current Return: Once investment safety is guaranteed, the portfolio should yield a steady current income. The current returns should at least match the opportunity cost of the funds of the investor. What we are referring to here current income by way of interest of dividends, not capital gains.

2. Marketability: -

A good portfolio consists of investment, which can be marketed without difficulty. If there are too many unlisted or inactive shares in your portfolio, you will face problems in encasing them, and switching from one investment to another. It is desirable to invest in companies listed on major stock exchanges, which are actively traded. 3. Tax Planning: Since taxation is an important variable in total planning, a good portfolio should enable its owner to enjoy a favorable tax shelter. The portfolio should be developed considering not only income tax, but capital gains tax, and gift tax, as well. What a good portfolio aims at is tax planning, not tax evasion or tax avoidance. 4. Appreciation in the value of capital: A good portfolio should appreciate in value in order to protect the investor from any erosion in purchasing power due to inflation. In other words, a balanced portfolio must consist of certain investments, which tend to appreciate in real value after adjusting for inflation. 5. Liquidity: The portfolio should ensure that there are enough funds available at short notice to take care of the investors liquidity requirements. It is desirable to keep a line of credit from a bank for use in case it becomes necessary to participate in right issues, or for any other personal needs. 6. Safety of the investment: The first important objective of a portfolio, no matter who owns it, is to ensure that the investment is absolutely safe. Other considerations like income, growth, etc., only come into the picture after the safety of your investment is ensured. Investment safety or minimization of risks is one of the important objectives of portfolio management. There are many types of risks, which are associated with investment in equity stocks, including super stocks. Bear in mind that there is no such thing as a zero risk investment. More over, relatively low risk investment give correspondingly lower returns. You can try and minimize the overall risk or bring it to an acceptable level by developing a balanced and efficient portfolio. A good portfolio of growth stocks satisfies the entire objectives outline above.

Company Profile:

Data analysis and interpretation:

Findings, Suggestions and Conclusion:

Mutual Funds now represent perhaps most appropriate investment opportunity for most investors. As financial markets become more sophisticated and complex, investors need a financial intermediary who provides the required knowledge and professional expertise on successful investing. As the investor always try to maximize the returns and minimize the risk. Mutual fund satisfies these requirements by providing attractive returns with affordable risks. The stock market has been rising for over three years now. This in turn has not only protected the money invested in funds but has also to helped grow these investments. India's largest mutual fund, UTI, still controls nearly 80 per cent of the market. Also, the mutual fund industry as a whole gets less than 2 per cent of household savings against the 46 per cent that go into bank deposits. Some fund managers say this only indicates the sector's potential. "If mutual funds succeed in chipping away at bank deposits, even a triple digit growth is possible over the next few years. Comparatively people of small towns are less aware of other investment avenues viz Mutual Fund. People of young age group are ready to take risk and they can be targeted for investment in Mutual Fund. People with less experience were inclined towards investment in the Mutual Funds. It attracted as a safer avenue as compared to share market Income funds and ELSS are among the few top funds. People are not willing to take much risk and bear loss

Bibliography:
Books: 1. FINANCIAL MARKET AND SERVICES -Gordon and Natarajan 2. Investments Analysis & Portfolio Management by Prasana Chandra & V.K.Bhalla 3. Financial Accounting by I.M. Panday Magazines 1. Business India 2. Business World News Papers 1. Economic Times 2. Business Standard.

Websites:
www.utimf.com www.reliancemutual.com www.amfiindia.com www.wikipedia.com www.angelbroking.com www.mutualfundsindia.com www.bseindia.com