RELIANCE MUTUAL FUND, HUBLI

KARNATAK UNIVERSITY
DHARWAD
Kaizen Eduplus Societys
INSTITUTE O E!"E##EN"E IN
$ANA%E$ENT S"IEN"E&
Ta'i(al Indust'ial A'ea& Ai'po't Road&
Hu)li*+,
-$ASTER O .USINESS AD$INISTRATION/
A
0RO1E"T RE0ORT
ON
A STUDY ON PERFORMANCE ANALYSIS OF RELIANCE MUTUAL FUND FOR
LAST 3 YEARS WITH REFERENCE TO HUBLI
SU.$ITTED .Y2
SUSH$A S YE#ISHIRUR
$3.3A3 IVt( SE$ESTER
KUD NO2 $.A45556575

+545*+54+
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 1
Internal Guide:
Prof.Veena
Angadi
Lecturer, IEMS
External Guide:
Mr. Manikand Kuttah
Sales anager
RELIANCE MUTUAL FUND, HUBLI
DECLARATION
I, SUSHMA S YELISHIRUR MBA 4th semester student of KESs Institute of
Excellence in mn!ement Science "IEMS#, Hu$li here$% declre tht &ro'ect (or)
entitled stud% on &erformnce nl%sis of relince mutul fund for lst * %ers (ith reference
to Hu$li su$mitted to Krnt) Uni+ersit%, ,hr(d- .his &ro'ect re&ort is $onfied (or)
&re&red $% me under the !uidnce of /rof- 0een An!di-
I here$% confirm tht this &ro'ect re&ort on 1 stud% on &erformnce nl%sis of relince mutul
fund for lst * %ers (ith reference to Hu$li2 hs $een undert)en $% me durin! the sid &eriod
s &rt of m% cdemic curriculum-
I further declre tht, to m% $est )no(led!e nd $eliefs the mtter &resented in this
&ro'ect re&ort is &re&red $% me nd of m% o(n efforts-
,te3 Sushm S Yelishirur
/lce3 Hu$li M.B.A II Sem
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 2
RELIANCE MUTUAL FUND, HUBLI
Acknowe!"emen#
.his &ro'ect (ould $e incom&lete (ithout the ex&ression of (ords of sim&le !rtitude to the
&eo&le (ho mde it &ossi$le, so I t)e this o&&ortunit% to thn) them ll (ho directl% or
indirectl% hel&ed me lot to com&lete this &ro'ect successfull%-
4irst of ll, I (ould li)e to thn) m% &ro'ect !uide M$. M%n&k%n! '(##%) w)o &* % Sles
Mn!er of Relince Mutul 4und, Hu$li for h+in! &ro+ided me n o&&ortunit% to undert)e
m% &ro'ect in their or!ni5tion nd lso for his co6o&ertion, (hich hel&ed me lot to com&lete
m% &ro'ect-
I (ould li)e to ex&ress m% !ret res&ect to D$. S)$&n&+%* P%#&, ,irector, KES Societ%s
Institute of Excellence in Mn!ement Sciences for his encour!ement-
I ex&ress m% hertil% !rtitude to our fcult% 7 internl !uide, P$o,.-een%.An"%!& for their
excellent !uidnce e+er6ende+orin! su&&ort to under!o 8 months &ro'ect (ith (hose su&&ort
mde me su$mit this &ro'ect re&ort-
Lst $ut not the lest I (ould ex&ress m% sincere thn) m% &rents m% friends nd ll the &eo&le
(ho h+e directl% indirectl% hel&ed me to com&lete this &ro'ect successfull%

S(*)m% S Ye&*)&$($
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 3
RELIANCE MUTUAL FUND, HUBLI
9:;.E;.S
CHAPTERS
INDE.
PA/E NO.
E.ECUTI-E SUMMARY
C)%0#e$ I
INTRODUCTION
Introduction $out the to&ic
:$'ecti+es of the stud%
Limittions of the stud%
H%&othesis
C)%0#e$ II OR/ANI1ATION2COMPANY PROFILE
C)%0#e$ III
RESEARCH METHODOLO/Y
Stud% re
.%&es of dt used in stud%
C)%0#e$ I- ANALYSIS AND INTERPRETATION
C)%0#e$ -
FINDIN/S3 SU//ESTION AND
CONCLUSION
4indin!s of the stud%
Su!!estions<Recommendtions of the stud%
9onclusion
BIBLIO/RAPHY
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 4
RELIANCE MUTUAL FUND, HUBLI
E8ecuti9e Su::a'y
;o( d%, there is tou!h com&etition in finncil +enues due to increse in the in+estment
&roducts- /eo&le cn !et mn% in+estment o&tions to in+est their s+in!s- Selectin! one from the
mn% +il$le o&tions considerin! mn% ssocited fctors is +er% com&lex &rocess so
in+estin! in mutul fund is the $est (% to select the in+estment o&tion ccordin! to their
in+estment o$'ecti+e-
Relince Mutul 4und "=RM4=< =Mutul 4und=# is one of Indis ledin! Mutul 4unds,
(ith A+er!e Assets Under Mn!ement "AAUM# of Rs- >, ?>,@AA 9rores nd n in+estor count
of o+er BB-A> Lc) folios- "AAUM nd in+estor count Cn6Mr 8?>>- In this &ro'ect I tried m%
$est to !i+e ide $out Mutul fund industr% in Indi, +rious Mutul fund com&n% +il$le
in Indi, $enefits from in+estin! in mutul fund nd re!ultor% $od% for controllin! the mutul
fund cti+ities- .o )no( the &erformnce of the scheme +rious fctor li)e ris) nd return,
in+estment &ttern, to& holdin!s fund lloction nd mn% other hs $een considered
.he stud% is conducted on 1A stud% on &erformnce nl%sis of relince mutul fund for
lst * %ers2 (ith reference to Hu$li-
In this &ro'ect I studied the schemes of Relince Mutul fund nd +rious schemes
+il$le in the com&n%, (hich hel&ed me in )no(in! ho( the schemes re &erformin! nd the
resons $ehind it-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 5
RELIANCE MUTUAL FUND, HUBLI
Topic o; t(e study2
-A study on pe';o':ance analysis o; 'eliance :utual ;und ;o' last < yea's =it(
'e;e'ence to Hu)li/
o)>ecti9es o; t(e study2
.o understnd the conce&t of mutul fund, (or)in! nd mechnism nd
t%&es of mutul fund trded in Indi-
.o )no( the &erformnce of Relince mutul fund scheme-
.o e+lute the &erformnce of mutul fund in the terms of ris) nd return-
.o &&rise in+estment &erformnce of mutul funds (ith ris) d'ustment 7
theoreticl &rmeters s su!!ested $% Shr&e nd .re%nors-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 6
RELIANCE MUTUAL FUND, HUBLI
$et(odolo?y
Sou'ce o; data collection
The data is collected in two form namely Primary data and secondary data.
0'i:a'y Data2
/rimr% ,t (s !thered from discussion (ith the clients of the com&n% nd the
com&n% officils
Seconda'y Data2
.he secondr% dt (s !thered from, internet nd m!5ine- Mutul 4und relted
m!5ines li)e Mutul 4und Re+ie(, Mutul 4und Insi!ht $% +lue reserchers, :utloo)
Mone%- 4ct Sheets of Relince Mutul 4und nd H,49 Mutul 4und
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 7
RELIANCE MUTUAL FUND, HUBLI
F&n!&n"* o, #)e *#(!4
In the $o+e cse the Relince !ro(th fund return is >?-* hs com&red to
$enchmr) return is @-D-
9om&red to other funds the stndrd de+ition of Relince Bn)in! fund is
4-?*D4 $% this (e cn conclude there is more fluctutions-
Relince di+ersified &o(er sector fund does not sho(s the !ood returns s it
Is under &erformin! its Shr&e rtio is 6?-??EA-
/erformnce rtio of Relince /hrm fund is in ne!ti+e 6?-88?>-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 8
RELIANCE MUTUAL FUND, HUBLI
Su??estions@Reco::endations
If the in+estors (nt to !o for minimum ris) then the% cn d&t Relince
/hrm fund- Ris) is ?-@4B>
In+estor hs to select Relince Bn)in! fund $ecuse the ris) is >->?@4 nd
the return is >*-
In+estors cn Fuit from Relince ,i+ersified /o(er sector fund nd Relince
/hrm fund $ecuse it is under &erformin!-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 9
RELIANCE MUTUAL FUND, HUBLI
"onclusions
Lot of &rcticl )no(led!e hs !ined $% me $% crr%in! m% &ro'ect in Relince
Mutul 4und Hu$li- It is one of the ledin! com&n%- 4inll% I cn conclude tht
Guidnce is n im&ortnt criterion for the in+estors to m)e them (re $out
mutul fund schemes nd their returns- Hence sset mn!ement com&nies should
strt &romotionl cm&i!ns for ex&lorin! the )no(led!e nd informtion $out
the mutul fund-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 10
RELIANCE MUTUAL FUND, HUBLI
9HA/.ER I
I;.R:,U9.I:;
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 11
RELIANCE MUTUAL FUND, HUBLI
In#$o!(c#&on
Mutul fund is +er% hot conce&t in t(o tier cities $ecuse these cities re !ro(in! t
fster rte- And t the eFul rte the stndrd of li+in! lso incresin!, &eo&le !ettin! hi!her
ex&osures in their 'o$s mens the% re !ettin! hi!her slries thts (h% the% re no( loo)in!
ne( in+estment o&&ortunities- .here for .his &ro'ect re&ort is (ritten in such (% tht the
reder of the &ro'ect !et cler understndin! of conce&t i-e- the mutul fund conce&t, t%&es of
mutul funds in Indi, ex&lins the &ros nd cons of the conce&t nd the four &hses of mutul
fund industr% in Indi-
MEANIN/ OF FINANCIAL PERFORMANCE ANALYSIS
Exmintion of +rious finncil &erformnce indictors in com&rison (ith the results chie+ed
$% the com&etin! firms of $out the sme si5e-
It is to e+lute mone% mn!er=s &erformnce $sed on &erformnce ttri$ution nl%sis- .his
t%&e of nl%sis fctors in num$er of elements tht cn ffect &erformnce such s mr)et
timin! nd securit% selection-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 12
RELIANCE MUTUAL FUND, HUBLI
O56ec#&+e* o, #)e *#(!47
.o understnd the conce&t of mutul fund, (or)in! nd mechnism nd
t%&es of mutul fund trded in Indi-
.o )no( the &erformnce of Relince mutul fund Relince mutul fund
scheme-
.o e+lute the &erformnce of mutul fund in the terms of ris) nd return-
.o &&rise in+estment &erformnce of mutul funds (ith ris) d'ustment
the theoreticl &rmeters s su!!ested $% Shr&e-
L&m&#%#&on* o, #)e *#(!47
.he dt collection (s strictl% confined to secondr% sources-
9ollectin! historicl ;A0 is +er% difficult-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 13
RELIANCE MUTUAL FUND, HUBLI
9HA/.ER II
:RGA;ISA.I:; < 9:M/A;Y /R:4ILE
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 14
RELIANCE MUTUAL FUND, HUBLI
P$o,&e o, Re&%nce m(#(% ,(n!
Relince 9&itl Asset Mn!ement Limited "R9AM# is n unlisted /u$lic Limited 9om&n%
incor&orted under the 9om&nies Act, >D@B on 4e$rur% 84, >DD@, h+in! its re!istered office
t HRelince HouseH, ;er- Mrdi /l5, :ff- 9-G- Rod, Ahmd$d, *E? ??B nd its
9or&orte :ffice t :ne Indi$ulls 9entre, .o(er >, >> >8 4loors, Cu&iter Mills 9om&ound ,
E4>, Sen&ti B&t Mr!, El&hinstone Rod, Mum$i 4?? ?>*- R9AM hs $een &&ointed s
the Asset Mn!ement com&n% of Relince Mutul 4und $% the .rustees of Relince Mutul
4und +ide In+estment Mn!ement A!reement "IMA# dted M% >8, >DD@ nd executed
$et(een Relince 9&itl .rustee 9o- Limited nd Relince 9&itl Asset Mn!ement Limited
nd mended on Au!ust >8, >DDA nd mended on Au!ust >8, >DDA, Cnur% 8?, 8??4 nd
4e$rur% >A, 8?>> in line (ith SEBI "Mutul 4unds# Re!ultions, >DDB-
/ursunt to this IMA, R9AM is ctin! s the In+estment Mn!er of the Mutul 4und- .he net
(orth of the Asset Mn!ement 9om&n% $sed unutdited finncils sttements s on
Se&tem$er *?, 8?>? is Rs- >,>*D-*8 9rore-
Relince Mutul 4und "=RM4=< =Mutul 4und=# is one of Indis ledin! Mutul 4unds, (ith
A+er!e Assets Under Mn!ement "AAUM# of Rs- >,?>,@AA 9rores nd n in+estor count of
o+er BB-A> L)h folios- "AAUM nd in+estor count Cn Mr 8?>>#-
Relince Mutul 4und, &rt of the Relince Grou&, is one of the fstest !ro(in! mutul funds
in Indi- RM4 offers in+estors (ell rounded &ortfolio of &roducts to meet +r%in! in+estor
reFuirements nd hs &resence in >@D cities cross the countr%- Relince Mutul 4und constntl%
ende+ors to lunch inno+ti+e &roducts nd customer ser+ice inititi+es to increse +lue to
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 15
RELIANCE MUTUAL FUND, HUBLI
in+estors- Relince 9&itl Asset Mn!ement Limited "IR9AM# is the sset mn!er of
Relince Mutul 4und- R9AM su$sidir% of Relince 9&itl Limited, (hich holds D*-*AJ of
the &id u& c&itl of R9AM, the $lnce &id u& c&itl $ein! held $% minorit% shreholders-
Relince 9&itl Ltd- is one of Indis ledin! nd fstest !ro(in! &ri+te sector finncil
ser+ices com&nies, nd rn)s mon! the to& * &ri+te sector finncil ser+ices nd $n)in!
com&nies, in terms of net (orth- Relince 9&itl Ltd- hs interests in sset mn!ement, life
nd !enerl insurnce, &ri+te eFuit% nd &ro&rietr% in+estments, stoc) $ro)in! nd other
finncil ser+ices-

S&onsor3 Relince 9&itl Limited
.rustee3 Relince 9&itl .rustee 9o- Limited
In+estment Mn!er < AM93 Relince 9&itl Asset Mn!ement Limited
Sttutor% ,etils3 .he S&onsor, the .rustee nd the In+estment Mn!er re incor&orted under
the 9om&nies Act >D@B-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 16
RELIANCE MUTUAL FUND, HUBLI
H&*#o$4 o, M(#(% ,(n!
.he mutul fund industr% in Indi strted in >DB* (ith the formtion of Unit .rust of Indi, t the
inititi+e of the Go+ernment of Indi nd Reser+e Bn)- .he histor% of mutul funds in Indi cn
$e $rodl% di+ided into four distinct &hses-
P)%*e* o, m(#(% F(n!
F&$*# P)%*e7 89:; 89<=
An Act of /rliment est$lished Unit .rust of Indi "U.I# on >DB*- It (s set u& $% the reser+e
Bn) of Indi nd functioned under the Re!ultor% nd dministrti+e control of the
Reser+e Bn) of Indi- In >DAE U.I (s de lin)ed from the RBI nd the Industril ,e+elo&ment
Bn) of Indi "I,BI# too) o+er the re!ultor% nd dministrti+e control in&lce of RBI- .he
first scheme lunched $% U.I (s Unit Scheme >DB4- At the end of >DEE U.I hd Rs-B,A??
crores of ssets under mn!ement-
Secon! P)%*e7 89<= 8993 >En#$4 o, P(5&c Sec#o$ F(n!*?
>DEA mr)ed the entr% of non U.I, &u$lic sector mutul funds set u& $% &u$lic sector $n)s nd
Life Insurnce 9or&ortion of Indi "LI9# nd Generl Insurnce 9or&ortion of Indi "GI9#-
SBI Mutul 4und (s the first non U.I Mutul 4und est$lished in Cune >DEA follo(ed $%
9nr $n) Mutul 4und ",ec EA#, /un'$ ;tionl Bn) Mutul 4und "Au! ED#, Indin Bn)
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 17
RELIANCE MUTUAL FUND, HUBLI
Mutul 4und ";o+ ED#, Bn) of Indi "Cun D?#, Bn) of Brod Mutul 4und ":ct D8#- LI9
est$lished its mutul fund in Cune >DED (hile GI9 hd set u& its mutul fund in ,ecem$er
>DD?- At the end of >DD*, the mutul fund industr% hd ssets under mn!ement of Rs-4A, ??4
crores-
T)&$! P)%*e7 8993 @AA3 >En#$4 o, P$&+%#e Sec#o$ F(n!*?
Kith the entr% of &ri+te sector funds in >DD*, ne( er strted in the Indin mutul fund
industr%, !i+in! the Indin in+estors (ider choice of fund fmilies- Also, >DD* (s the %er in
(hich the first Mutul 4und Re!ultions cme into $ein!, under (hich ll mutul funds, exce&t
U.I (ere to $e re!istered nd !o+erned- .he erst(hile Kothri /ioneer "no( mer!ed (ith
4rn)lin .em&leton# (s the first &ri+te sector mutul fund re!istered in Cul% >DD*-.he >DD*
SEBI "Mutul 4und# Re!ultions (ere su$stituted $% more com&rehensi+e nd re+ised Mutul
4und Re!ultions in >DDB-
.he industr% no( functions under the SEBI "Mutul 4und# Re!ultions >DDB- .he
num$er of mutul fund houses (ent on incresin!, (ith mn% forei!n mutul funds settin! u&
funds in Indi nd lso the industr% hs (itnessed se+erl mer!ers nd cFuisitions- As t the end
of Cnur% 8??*, there (ere ** mutul funds (ith totl ssets of Rs- >,8>,E?@ crores- .he Unit
.rust of Indi (ith Rs-44,@4> crores of ssets under mn!ement (s (% hed of other mutul
funds-
Fo($#) P)%*e B *&nce Fe5$(%$4 @AA3
In 4e$rur% 8??*, follo(in! the re&el of the Unit .rust of Indi Act >DB* U.I (s $ifurcted
into t(o se&rte entities- :ne is the S&ecified Undert)in! of the Unit .rust of
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 18
RELIANCE MUTUAL FUND, HUBLI
Indi (ith ssets under mn!ement of Rs-8D,E*@ crores s t the end of Cnur% 8??*,
re&resentin! $rodl%, the ssets of US B4 scheme, ssured return nd certin other schemes- .he
S&ecified Undert)in! of Unit .rust of Indi, functionin! under n dministrtor nd under the
rules frmed $% Go+ernment of Indi nd does not come under the &ur+ie( of the Mutul 4und
Re!ultions-
.he second is the U.I Mutul 4und Ltd, s&onsored $% SBI, /;B, B:B nd LI9- It is
re!istered (ith SEBI nd functions under the Mutul 4und Re!ultions- Kith the $ifurction of
the erst(hile U.I (hich hd in Mrch 8??? more thn Rs-AB,??? crores of ssets under
mn!ement nd (ith the settin! u& of U.I Mutul 4und, conformin! to the SEBI Mutul
4und Re!ultions, nd (ith recent mer!ers t)in! &lce mon! different &ri+te sector funds, the
mutul fund industr% hs entered its current &hse of consolidtion nd !ro(th- As t the end of
:cto$er *>, 8??*, there (ere *> funds, (hich mn!e ssets of Rs->8BA8B crores under *EB
schemes-
$eanin? o; :utual ;und
A mutul fund is nothin! more thn collection of stoc)s nd<or $onds- You cn thin) of
mutul fund s com&n% tht $rin!s to!ether !rou& of &eo&le nd in+ests their mone% in
stoc)s, $onds, nd other securities- Ech in+estor o(ns shres, (hich re&resent &ortion of the
holdin!s of the fund-
A!+%n#%"e* o, M(#(% F(n!*7
T)e %!+%n#%"e* o, &n+e*#&n" &n % M(#(% F(n! %$e7
D&+e$*&,&c%#&on3 .he $est mutul funds desi!n their &ortfolios so indi+idul in+estments
(ill rect differentl% to the sme economic conditions- 4or exm&le, economic conditions
li)e rise in interest rtes m% cuse certin securities in di+ersified &ortfolio to
decrese in +lue- :ther securities in the &ortfolio (ill res&ond to the sme economic
conditions $% incresin! in +lue- Khen &ortfolio is $lnced in this (%, the +lue of
the o+erll &ortfolio should !rdull% increse o+er time, e+en if some securities lose
+lue-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 19
RELIANCE MUTUAL FUND, HUBLI
P$o,e**&on% M%n%"emen#7 Most mutul funds &% to&fli!ht &rofessionls to mn!e
their in+estments- .hese mn!ers decide (ht securities the fund (ill $u% nd sell-
Re"(%#o$4 o+e$*&")#7 Mutul funds re su$'ect to mn% !o+ernment re!ultions tht
&rotect in+estors from frud-
L&C(&!&#43 It=s es% to !et %our mone% out of mutul fund- Krite chec), m)e cll,
nd %ou=+e !ot the csh-
Con+en&ence7 You cn usull% $u% mutul fund shres $% mil, &hone, or o+er the
Internet-
Low co*#7 Mutul fund ex&enses re often no more thn >-@ &ercent of %our in+estment-
Ex&enses for Index 4unds re less thn tht, $ecuse index funds re not cti+el%
mn!ed- Insted, the% utomticll% $u% stoc) in com&nies tht re listed on s&ecific
index-
!isad"antages of Mutual #unds
P$o,e**&on% M%n%"emen# 6 Mn% in+estors de$te (hether or not the &rofessionls re
n% $etter thn %ou or I t &ic)in! stoc)s- Mn!ement is $% no mens inflli$le, nd,
e+en if the fund loses mone%, the mn!er still !ets &id-
Co*#* 3 9retin!, distri$utin!, nd runnin! mutul fund is n ex&ensi+e &ro&osition-
E+er%thin! from the mn!ers slr% to the in+estors sttements cost mone%- .hose
ex&enses re &ssed on to the in+estors- Since fees +r% (idel% from fund to fund, filin!
to &% ttention to the fees cn h+e ne!ti+e lon!6term conseFuences- Remem$er, e+er%
dollr s&end on fees is dollr tht hs no o&&ortunit% to !ro( o+er time- "Lern ho( to
esc&e these costs in Sto& /%in! Hi!h Mutul 4und 4ees-#
D&(#&on 3 It=s &ossi$le to h+e too much di+ersifiction- Becuse funds h+e smll
holdin!s in so mn% different com&nies, hi!h returns from fe( in+estments often don=t
m)e much difference on the o+erll return- ,ilution is lso the result of successful
fund !ettin! too $i!- Khen mone% &ours into funds tht h+e hd stron! success, the
mn!er often hs trou$le findin! !ood in+estment for ll the ne( mone%-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 20
RELIANCE MUTUAL FUND, HUBLI
T%De* 3 Khen fund mn!er sells securit%, c&itl6!ins tx is tri!!ered- In+estors
(ho re concerned $out the im&ct of txes need to )ee& those concerns in mind (hen
in+estin! in mutul funds- .xes cn $e miti!ted $% in+estin! in tx6sensiti+e funds or
$% holdin! non6tx sensiti+e mutul fund in tx6deferred ccount, such s 4?>")# or
IRA- "Lern $out one t%&e of tx6deferred fund in Mone% Mr)et Mutul 4unds3 A
Better S+in!s Account-#
M(#(% F(n! O0e$%#&on Fow C)%$#
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 21
RELIANCE MUTUAL FUND, HUBLI
THE DIFFERENT TYPES OF MUTUAL FUNDS7
Sc)eme* %cco$!&n" #o M%#($&#4 Pe$&o! 7
A mutul fund scheme cn $e clssified into o&en ended scheme or close ended scheme
de&endin! on its mturit% &eriod-
O0en en!e! F(n!2 Sc)eme
An o&en ended fund or scheme is one tht is +il$le for su$scri&tion nd re&urchse on
continuous $sis- .hese schemes do not h+e fixed mturit% &eriod- In+estors cn con+enientl%
$u% nd sell units t ;et Asset 0lue ";A0# relted &rices, (hich re declred on dil% $sis-
.he )e% feture of o&en end schemes is liFuidit%-
Co*e en!e! F(n!2 Sc)eme
A close ended fund or scheme hs sti&ulted mturit% &eriod e-!- @ A %ers- .he fund is o&en
for su$scri&tion onl% durin! s&ecified &eriod t the time of lunch of the scheme- In+estors cn
in+est in the scheme t the time of the initil &u$lic issue nd therefter the% cn $u% or sell the
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 22
RELIANCE MUTUAL FUND, HUBLI
units of the scheme on the stoc) exchn!es (here the units re listed- In order to &ro+ide n exit
route to the in+estors, some close ended funds !i+e n o&tion of sellin! $c) the units to the
mutul fund throu!h &eriodic re&urchse t ;A0 relted &rices- SEBI Re!ultions sti&ulte tht
t lest one of the t(o exit routes is &ro+ided to the in+estor i-e- either re&urchse fcilit% or
throu!h listin! on stoc) exchn!es- .hese mutul funds schemes disclose ;A0 !enerll% on
(ee)l% $sis-
Sc)eme* %cco$!&n" #o In+e*#men# O56ec#&+e7
A scheme cn lso $e clssified s !ro(th scheme, income scheme, or $lnced scheme
considerin! its in+estment o$'ecti+e- Such schemes m% $e o&en ended or close ended schemes
s descri$ed erlier- Such schemes m% $e clssified minl% s follo(s3
/$ow#) 2 EC(&#4 O$&en#e! Sc)eme
.he im of !ro(th funds is to &ro+ide c&itl &&recition o+er the medium to lon! term- Such
schemes normll% in+est m'or &rt of their cor&us in eFuities- Such funds h+e
com&rti+el% hi!h ris)s- .hese schemes &ro+ide different o&tions to the in+estors li)e di+idend
o&tion, c&itl &&recition, etc- nd the in+estors m% choose n o&tion de&endin! on their
&references- .he in+estors must indicte the o&tion in the &&liction form- .he mutul funds
lso llo( the in+estors to chn!e the o&tions t lter dte- Gro(th schemes re !ood for
in+estors h+in! lon! term outloo) see)in! &&recition o+er &eriod of time-
Income 2 De5# O$&en#e! Sc)eme
.he im of income funds is to &ro+ide re!ulr nd sted% income to in+estors- Such schemes
!enerll% in+est in fixed income securities such s $onds, cor&orte de$entures, Go+ernment
securities nd mone% mr)et instruments- Such funds re less ris)% com&red to eFuit% schemes-
.hese funds re not ffected $ecuse of fluctutions in eFuit% mr)ets- Ho(e+er, o&&ortunities of
c&itl &&recition re lso limited in such funds- .he ;A0s of such funds re ffected $ecuse
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 23
RELIANCE MUTUAL FUND, HUBLI
of chn!e in interest rtes in the countr%- If the interest rtes fll, ;A0s of such funds re li)el%
to increse in the short run nd +ice +ers- Ho(e+er, lon! term in+estors m% not $other $out
these fluctutions-
B%%nce! F(n!
.he im of $lnced funds is to &ro+ide $oth !ro(th nd re!ulr income s such schemes in+est
$oth in eFuities nd fixed income securities in the &ro&ortion indicted in their offer documents-
.hese re &&ro&rite for in+estors loo)in! for moderte !ro(th- .he% !enerll% in+est 4? B?J
in eFuit% nd de$t instruments- .hese funds re lso ffected $ecuse of fluctutions in shre
&rices in the stoc) mr)ets- Ho(e+er, ;A0s of such funds re li)el% to $e less +oltile com&red
to &ure eFuit% funds-
Mone4 M%$ke# o$ L&C(&! F(n!
.hese funds re lso income funds nd their im is to &ro+ide es% liFuidit%, &reser+tion of
c&itl nd moderte income- .hese schemes in+est exclusi+el% in sfer short term instruments
such s tresur% $ills, certifictes of de&osit, commercil &&er nd inter $n) cll mone%,
!o+ernment securities, etc- Returns on these schemes fluctute much less com&red to other
funds- .hese funds re &&ro&rite for cor&orte nd indi+idul in+estors s mens to &r) their
sur&lus funds for short &eriods-
/&# F(n!
.hese funds in+est exclusi+el% in !o+ernment securities- Go+ernment securities h+e no defult
ris)- ;A0s of these schemes lso fluctute due to chn!e in interest rtes nd other economic
fctor s is the cse (ith income or de$t oriented schemes-
In!eD F(n!*
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 24
RELIANCE MUTUAL FUND, HUBLI
Index 4unds re&licte the &ortfolio of &rticulr index such s the BSE Sensiti+e index, S7/
;SE @? index ";ift%#, etc .hese schemes in+est in the securities in the sme (ei!ht !e
com&risin! of n index- ;A0s of such schemes (ould rise or fll in ccordnce (ith the rise or
fll in the index, thou!h not exctl% $% the sme &ercent!e due to some fctors )no(n s
Htrc)in! errorH in technicl terms- ;ecessr% disclosures in this re!rd re mde in the offer
document of the mutul fund scheme- .here re lso exchn!e trded index funds lunched $%
the mutul funds, (hich re trded on the stoc) exchn!es-
Sec#o$ *0ec&,&c ,(n!*2*c)eme*
.hese re the funds<schemes, (hich in+est in the securities of onl% those sectors or industries s
s&ecified in the offer documents- E-!- /hrmceuticls, Soft(re, 4st Mo+in! 9onsumer Goods
"4M9G#, /etroleum stoc)s, etc- .he returns in these funds re de&endent on the &erformnce of
the res&ecti+e sectors<industries- Khile these funds m% !i+e hi!her returns, the% re more ris)%
com&red to di+ersified funds- In+estors need to )ee& (tch on the &erformnce of those
sectors<industries nd must exit t n &&ro&rite time- .he% m% lso see) d+ice of n ex&ert-
T%D S%+&n" Sc)eme*
.hese schemes offer tx re$tes to the in+estors under s&ecific &ro+isions of the Income .x Act,
>DB> s the Go+ernment offers tx incenti+es for in+estment in s&ecified +enues- e-!- EFuit%
Lin)ed S+in!s Schemes "ELSS#- /ension schemes lunched $% the mutul funds lso offer tx
$enefits- .hese schemes re !ro(th oriented nd in+est &re dominntl% in eFuities- .heir !ro(th
o&&ortunities nd ris)s ssocited re li)e n% eFuit% oriented scheme-
Lo%! o$ no o%! F(n!
A Lod 4und is one tht chr!es &ercent!e of ;A0 for entr% or exit- .ht is, ech time one
$u%s or sells units in the fund, chr!e (ill $e &%$le- .his chr!e is used $% the mutul fund
for mr)etin! nd distri$ution ex&enses- Su&&ose the ;A0 &er unit is Rs->?- If the entr% s (ell
s exit lod chr!ed is >J, then the in+estors (ho $u% (ould $e reFuired to &% Rs->?->? nd
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 25
RELIANCE MUTUAL FUND, HUBLI
those (ho offer their units for re&urchse to the mutul fund (ill !et onl% Rs-D-D? &er unit- .he
in+estors should t)e the lods into considertion (hile m)in! in+estment s these ffect their
%ields<returns- Ho(e+er, the in+estors should lso consider the &erformnce trc) record nd
ser+ice stndrds of the mutul fund, (hich re more im&ortnt- Efficient funds m% !i+e hi!her
returns in s&ite of lods- A no lod fund is one tht does not chr!e for entr% or exit- It mens the
in+estors cn enter the fund<scheme t ;A0 nd no dditionl chr!es re &%$le on &urchse
or sle of units-
O$"%n&E%#&on o, M(#(% F(n!* &n In!&%7F
.here re mn% entities in+ol+ed nd the di!rm $elo( illustrtes the or!ni5tionl set
u& of mutul fund3
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 26
RELIANCE MUTUAL FUND, HUBLI
S#$(c#($e o, M(#(% F(n!
SEBI "Mutul 4und# Re!ultions, >DDB re!ultes the Structure of Mutul 4unds in Indi- Mutul
4unds in Indi re constituted in the form of /u$lic .rust creted under the Indin .rusts Act,
>EE8- .his trust (ill $e creted $% s&onsor of the mutul fund- .he s&onsor (ill m)e initil
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 27
RELIANCE MUTUAL FUND, HUBLI
contri$ution in this trust nd (ill &&oint trustees to hold the ssets of the trust for the $enefit of
the unit holders, (ho re the $eneficir% of the trust- .he trustees (ill &&oint AM9 to ct s
in+estment mn!er of the ssets of the trust- .he AM9 then lunches schemes on $ehlf of
trustees in+itin! in+estors to contri$ute to the common &ool $% $u%in! units of the schemes-
AM9 t)es cre of ll the o&ertions of mn!in! the mone% of the in+estors-
As &er these re!ultions mutul funds should h+e the follo(in! structure3
>- S&onsor
8- .rust<trustee
*- Asset Mn!ement 9om&n%
4- 9ustodin-
S0on*o$
SEBI re!ultions define S&onsor s n% &erson (ho either itself or in ssocition (ith nother
$od% cor&orte est$lishes mutul fund- In sim&le (ords, S&onsor is n entit% tht sets u& the
mutul fund- S&onsor does the follo(in! im&ortnt cti+ities3
>- S&onsor cretes /u$lic .rust under the Indin .rust Act, >EE8
8- S&onsor &&oints trustees to mn!e the trust (ith the &&ro+l of SEBI
*- S&onsor cretes n Asset Mn!ement 9om&n% under the 9om&nies Act, >D@B-
4- S&onsor &&oints nd re!isters the trust s Mutul 4und (ith SEBI-
T$(*#ee
.rustees mn!e .rust- .rustees re res&onsi$le to the In+estors in the Mutul 4unds- .he%
t)e cre of the interests of In+estors in the Mutul 4unds- .rustees cn $e formed in either of
the follo(in! t(o (%s3
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 28
RELIANCE MUTUAL FUND, HUBLI
>- Bord of .rustees "Go+erned $% the &ro+isions of Indin .rust Act, >EE8#, nd
8- .rustee 9om&n% "Go+erned $% the &ro+isions of Indin .rust Act, >EE8 nd 9om&nies Act,
>D@B#
F(nc#&on* o, #$(*#ee*7
L .rustees ensure tht the cti+ities of the mutul fund re in ccordnce (ith SEBI "Mutul
4und # re!ultion >DDB-
L .rustees ensure tht the AM9 hs &ro&er s%stems nd &rocedures in &lce-
L .rustees ensure tht ll the other fund constituents re formed nd tht &ro&er due dili!ence
is exercised $% the AM9 in the &&ointment of constituents nd $usiness ssocites-
L All schemes floted $% the AM9 h+e to $e &&ro+ed $% the trustees-
L .rustees re+ie( nd ensure tht the net (orth of the AM9 is s &er the SEBI sti&ulted
norms-
L .rustees furnish to SEBI, on hlf %erl% $sis, re&ort on the cti+ities of AM9-
A**e# M%n%"emen# Com0%n4 >AMC?
An sset mn!ement com&n% is com&n% re!istered under the 9om&nies Act, >D@B-
S&onsor cretes the sset mn!ement com&n% nd this is the entit%, (hich mn!es the funds
of the mutul fund "trust#- .he mutul fund &%s smll fee to the AM9 for mn!ement of its
fund- .he AM9 cts under the su&er+ision of .rustees nd is su$'ect to the re!ultions of SEBI
too- At &resent there re some *? AM9 in Indi-
AM9 re minl% di+ided into * &rts- .hese re3
>- Bn) s&onsored
8- Institutions, nd
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 29
RELIANCE MUTUAL FUND, HUBLI
*- /ri+te Sector
Restrictions on the $usiness cti+ities of n AM9 Khen n AM9 cts s n In+estment Mn!er
to mutul fund, then it $ecomes +er% im&ortnt to see tht such n AM9 focuses 'ust on its core
$usiness- It lso $ecomes +er% im&ortnt for the re!ultor to ensure tht the cti+ities of AM9s
re not in conflict of ech other- Kith these o$'ecti+es, SEBI hs im&osed some restrictions on
the $usiness cti+ities of n AM9- .hese re3
L An AM9 shll not undert)e n% $usiness cti+it% exce&t in the nture of &ortfolio
mn!ement ser+ices, mn!ement nd d+isor% ser+ices to offshore funds etc, &ro+ided these
cti+ities re not in conflict (ith the cti+ities of the mutul fund-
L An AM9 cnnot in+est in n% of itso(n schemes unless full disclosure of its intention to in+est
hs $een mde in the offer document-
L An M;9 shll not ct s trustee of n% mutul fund-
C(*#o!&%n
.he most im&ortnt sset of n% mutul fund is &ortfolio- Hence it $ecomes +er% im&ortnt to
)ee& sfe the securities- .his res&onsi$ilit% of )ee&in! sfe the securities, (hich re in the
mteril form, re )e&t in sfe custod% (ith 9ustodin- 9ustodin &erforms +er% im&ortnt
$c) office o&ertion- .he% ensure tht deli+er% hs $een t)en of the securities, (hich re
$ou!ht, nd tht the% re trnsferred in the nme of mutul fund- .he% )ee& the in+estment
ccount of the mutul fund- .he% collect nd ccount for the di+idends nd interest recei+$les
on mutul fund in+estments- .he% lso )ee& trc) of +riouscor&orte ctions li)e $onus issue,
ri!ht issue, nd stoc) s&lit, $u% $c) offers, o&en offers etc-
Re!ultions :f Mutul 4unds Mutul 4unds in Indi re re!ulted $% SEBI "Securities nd
Exchn!e Bord of Indi#- All the mutul funds in Indi re re!ulted $% SEBI- SEBI hs frmed
the SEBI "Mutul 4unds# Re!ultions, >DDB, "hereinfter referred to s SEBI Re!ultions# (hich
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 30
RELIANCE MUTUAL FUND, HUBLI
&ro+ides the sco&e of the re!ultions of mutul fund in Indi- It is mndtor% for ll the mutul
funds to !et re!istered (ith SEBI-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 31
RELIANCE MUTUAL FUND, HUBLI
9HA/.ER III
ME.H,:L:GY
$et(odolo?y2
Study A'ea
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 32
RELIANCE MUTUAL FUND, HUBLI
Reliance Mutual Fund, HUBLI
Sou'ce o; data collection
The data is collected in two form namely Primary data and secondary data.
0'i:a'y Data2
/rimr% ,t (s !thered from discussion (ith the clients of the com&n% nd the
com&n% officils
Seconda'y Data2
.he secondr% dt (s !thered from, internet nd m!5ine- Mutul 4und relted
m!5ines li)e Mutul 4und Re+ie(, Mutul 4und Insi!ht $% +lue reserchers, :utloo)
Mone%- 4ct Sheets of Relince Mutul 4und-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 33
RELIANCE MUTUAL FUND, HUBLI
9HA/.ER I0
A;ALYSIS A;, I;.ER/RE.A.I:;
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 34
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* o, %n%4*&*7
8. Re#($n 7
Return on t%&icl in+estment consists of t(o com&onents- .he $sic is the &eriodic csh
recei&ts "or income# on the in+estment, either in the form of interest or di+idends- .he second
com&onent is the chn!e in the &rice of the ssets commonl% clled the c&itl !in or loss-
.his element of return is the difference $et(een the &urchse &rice nd the &rice t (hich the
ssets cn $e or is soldM therefore, it cn $e !in or loss-
.he return hs $een clculted s under3
Re#($n G >En! 0e$&o! NA-F 5e"&nn&n" 0e$&o! NA-?H!&+&!en! $ece&+e!? 25e"&nn&n"
0e$&o! NA-?I8AA
@. R&*k 7
Ris) is neither !ood nor $d- Ris) in holdin! securities is !enerll% ssocited (ith the
&ossi$ilit% tht reli5ed returns (ill $e less thn ex&ected returns- .he difference $et(een the
reFuired rte of returns on mutul fund in+estment nd the ris) free return is the ris) &remium-
Ris) cn $e mesured in terms of Bet 7 stndrd de+itions-
S#%n!%$! !e+&%#&on
It is used to mesure the +rition in indi+idul returns from the +er!e ex&ected returns
o+er certin &eriod- Stndrd de+ition is used in the conce&t of ris) of &ortfolio of
in+estments- Hi!her stndrd de+ition mens !reter fluctution in ex&ected return-
Stndrd de+ition "S,# N O +r
Khere 0r N +rince
0rN & "r
i
E"r##
8
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 35
RELIANCE MUTUAL FUND, HUBLI
3. Be#% 7
Bet mesures the s%stemtic ris) nd sho(s ho( &rices of securities res&ond to the
mr)et forces- It is clculted $% reltin! the return on securit% (ith return for the mr)et- B%
con+ention, mr)et (ill h+e $et >-?-Mutul fund is sid to $e +oltile, more +oltile or less
+oltile- If $et is !rter thn > the stoc) is sid to $e ris)ier thn mr)et- If $et is less thn
>,the indiction is tht stoc) is less ris)% in com&rison to mr)et- If $et is 5ero then the ris) is
the sme s tht of the mr)et- ;e!ti+e $et is rre-

N nx% 6"x#" %#
nx
8
"x#
8
Khere nN num$er of d%s
P Nrollin! returns of the ;SE index
YN rollin! returns of the schemes
;. S)%$0e &n!eD
Shr&e index mesures ris) &remium of &ortfolio, relti+e to the totl mount of ris) in
the &ortfolio- Shr&e index summri5es the ris) nd return of &ortfolio in sin!le mesure
tht cte!ori5es the &erformnce of funds on the ris) d'usted $sis- .he lr!er the Shr&es
index the &ortfolio o+er &erforms the mr)et nd +ice +ers-
Khere, s
t
N Shr&es index
R
&
N &ortfolio return
R
f
N Ris) free rte of return "A-@DJ#
SD= Standard Deviation of the port folio
The formula for Sharpe inde! = S
t $
%
P &
%
f
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 36
RELIANCE MUTUAL FUND, HUBLI
S.!
THE PERFORMANCE OF TOP J SCHEMES OF RELIANCE MUTUAL
FUND FOR LAST J YEARS.
Re&%nce /$ow#) F(n!
O+e$+&ew
In+e*#men# O56ec#&+e
.he &rimr% in+estment o$'ecti+e of the scheme is to chie+e lon! term !ro(th of c&itl $%
in+estin! in eFuit% nd eFuit% relted securities throu!h reserch $sed in+estment &&roch-
Sc)eme !e#%&*
F(n! T40e 7:&en6Ended
In+e*#men# P%n 7Gro(th
L%(nc) !%#e 7Se& ?E, >DD@
Benc)m%$k 7BSE6>??
A**e# S&Ee >R* c$? 7@,ABD-DE "Mr6*>68?>8#
M&n&m(m In+e*#men# 7Rs-@???
L%*# D&+&!en! 7;-A-
Bon(* 7;-A-
F(n! M%n%"e$ 7Sunil Sin!hni
Lo%! De#%&*
En#$4 Lo%! 7;-A-
ED&# Lo%! 7>-??J
Lo%! Commen#* 7Exit lod 6 >J if redeemed<s(itched out on or
$efore com&letion of > %rs from the dte of
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 37
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* (*e! &n me%*($&n" /$ow#) ,(n!
'eta

N nx% 6"x#" %#
nx
8
"x#
8
'eta $ (.)*+,
S#%n!%$! !e+&%#&on >SD? G K +%$
W)e$e -%$ G +%$&%nce
-%$G 0 >$
&
E>$??
@
S.!$ -.*..+/
Shar0e1s %atio
S
t $
%
P &
%
f

S!
Shar0e1s %atio $ (.(2-.
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 38
RELIANCE MUTUAL FUND, HUBLI
%eliance Gro3th fund
4a5le & *
Year 1 yr (%) 2 yr (%) 3 yr (%)
Fund Returns -8.9 -3.6 10.3
Benchar! returns -9.6 -1.6 ".9
Gra0h & *
I;.ER/RE.A.I:;3 .$le > re+els tht in the >
st
%er fund return is 6E-D nd $enchmr)
returns is 6D-B, in 8
nd
%er fund return is 6*-B nd $enchmr) is 6>-B, in the *
rd
%er fund return is
>?-* nd $enchmr) is @-D -
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 39
RELIANCE MUTUAL FUND, HUBLI
RELIANCE -ISION FUND
O+e$+&ew
In+e*#men# O56ec#&+e
.he &rimr% in+estment o$'ecti+e of the scheme is to chie+e lon!6term !ro(th of c&itl $% in+estment
in eFuit% nd eFuit% relted securities throu!h reserch $sed in+estment &&roch-
Sc)eme !e#%&*
F(n! T40e 7:&en6Ended
In+e*#men# P%n 7Gro(th
L%(nc) !%#e 7Se& ?A, >DD@
Benc)m%$k 7BSE6>??
A**e# S&Ee >R* c$? 78,888-AB "Mr6*>68?>8#
M&n&m(m In+e*#men# 7Rs-@???
L%*# D&+&!en! 7;-A-
Bon(* 7;-A-
F(n! M%n%"e$ 7Ash(ni Kumr
Lo%! De#%&*
En#$4 Lo%! 7;-A-
ED&# Lo%! 7>-??J
Lo%! Commen#* 7Exit lod 6 >J if redeemed<s(itched
out on or $efore com&letion of > %rs
from the dte of llotment
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 40
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* (*e! &n me%*($&n" -&*&on ,(n!
'eta

N nx% 6"x#" %#
nx
8
"x#
8
'eta $ (.).)2
S#%n!%$! !e+&%#&on >SD? G K +%$
W)e$e -%$ G +%$&%nce
-%$G 0 >$
&
E>$??
@
S.!$ -.(+62/
Shar0e1s %atio
S
t $
%
P &
%
f

S!
Shar0e1s %atio $ (.(7(+
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 41
RELIANCE MUTUAL FUND, HUBLI
%eliance Vision fund
4a5le 8 .
"ear
1 #r $%& ' #r $%& 3 #r $%&
Fund Returns
-8.6 -1." (.9
Benchar! returns
-9.6 -1.6 ".9
Gra0h 8 .
I;.ER/RE.A.I:;3 .$le 8 re+els tht in the >
st
%er fund return is 6E-B nd $enchmr) return
is 6D-B, in the 8
nd
%er fund return is 6>-@ nd $enchmr) return is 6>-B,in the *
rd
%er fund return
is A-D nd $enchmr) return is @-D -
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 42
RELIANCE MUTUAL FUND, HUBLI
Re&%nce 5%nk&n" ,(n!
O+e$+&ew
In+e*#men# O56ec#&+e
.he &rimr% in+estment o$'ecti+e of the scheme is to see) to !enerte continous returns $%
cti+el% in+estin! in eFuit% nd eFuit% relted or fixed income securities of com&nies in the
Bn)in! Sector-
Sc)eme !e#%&*
F(n! T40e 7:&en6Ended
In+e*#men# P%n 7Gro(th
L%(nc) !%#e 7M% 8>, 8??*
Benc)m%$k 7BA;K ;ift%
A**e# S&Ee >R* c$? 7>,BDA-A* "Mr6*>68?>8#
M&n&m(m In+e*#men# 7Rs-@???
L%*# D&+&!en! 7;-A-
Bon(* 7;-A-
F(n! M%n%"e$ 7Sunil Sin!hni < Shre% Loon)er <
Sn'% /re)h
Lo%! De#%&*
En#$4 Lo%! 7;-A-
ED&# Lo%! 7>-??J
Lo%! Commen#* 7 Exit lod 6 >J if redeemed<s(itched
out on or $efore com&letion of > %rs
from the dte of llotment-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 43
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* (*e! &n me%*($&n" B%nk&n" ,(n!
'eta

N nx% 6"x#" %#
nx
8
"x#
8
'eta $ *.*(6,
S#%n!%$! !e+&%#&on >SD? G K +%$
W)e$e -%$ G +%$&%nce
-%$G 0 >$
&
E>$??
@
S.!$ ,.(-),/
Shar0e1s %atio
S
t $
%
P &
%
f

S!
Shar0e1s %atio $ (.()*
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 44
RELIANCE MUTUAL FUND, HUBLI
%ealince 'anking fund
4a5le & -
"ear
1 #r $%& ' #r $%& 3 #r $%&
Fund Returns
-1'.1 '.1 13
Benchar! returns
-9.' 1." 10.(
Gra0h 8 -
I;.ER/RE.A.I:;3 .$le * re+els tht in the >
st
%er fund return is 6>8-> nd $enchmr)
return is 6D-8, in the 8
nd
%er fund return is 8-> nd $enchmr) return is >-@, in the *
rd
%er fund
return is >* nd $enchmr) return is >?-

INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 45
RELIANCE MUTUAL FUND, HUBLI
Re&%nce !&+e$*&,&e! 0owe$ *ec#o$ ,(n!
O+e$+&ew
In+e*#men# O56ec#&+e
.he &rimr% in+estment o$'ecti+e of the scheme is to see) to !enerte continous returns $%
cti+el% in+estin! in eFuit% nd eFuit% relted or fixed income securities of /o(er nd other
ssocited com&nies-
Sc)eme !e#%&*
F(n! T40e 7:&en6Ended
In+e*#men# P%n 7Gro(th
L%(nc) !%#e 7A&r >@, 8??4
Benc)m%$k 7BSE /:KER
A**e# S&Ee >R* c$? 78,4?@-E4 "Mr6*>68?>8#
M&n&m(m In+e*#men# 7Rs-@???
L%*# D&+&!en! 7;-A-
Bon(* 7;-A-
F(n! M%n%"e$ 7Sunil Sin!hni
Lo%! De#%&*
En#$4 Lo%! 7;-A-
ED&# Lo%! 7>-??J
Lo%! Commen#* 7Exit lod 6 >J if redeemed<s(itched out on or
$efore com&letion of > %rs from the dte of
llotment-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 46
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* (*e! &n me%*($&n" D&+e$*&,&e! Powe$ *ec#o$ ,(n!
'eta

N nx% 6"x#" %#
nx
8
"x#
8
'eta $ (.))).
S#%n!%$! !e+&%#&on >SD? G K +%$
W)e$e -%$ G +%$&%nce
-%$G 0 >$
&
E>$??
@
S.!$ -.,6.-/
Shar0e1s %atio
S
t $
%
P &
%
f

S!
Shar0e1s %atio $ &(.((+2
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 47
RELIANCE MUTUAL FUND, HUBLI
Re&%nce D&+e$*&,&e! Powe$ Sec#o$ ,(n!
4a5le & ,
"ear
1 #r $%& ' #r $%& 3 #r $%&
Fund Returns
-'3.8 -18.( -".'
Benchar! returns
-'(.8 -'1.) -1'.(
Gra0h8 ,
I;.ER/RE.A.I:;3 .$le 4 re+els tht in the > st %er fund return is 68*-E nd $enchmr)
return is 68A-E, in the 8
nd
%er fund return is 6>E-A nd $enchmr) return is 68>-4, in the *
rd
%er
fund return 6@-8 nd $enchmr) return is 6>8-A-

INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 48
RELIANCE MUTUAL FUND, HUBLI
Re&%nce P)%$m% F(n!
O+e$+&ew
In+e*#men# O56ec#&+e
.he &rimr% in+estment o$'ecti+e of the scheme is to see) to !enerte consistent returns $%
in+estin! in eFuit% nd eFuit% relted or fixed income securities of /hrm nd other ssocited
com&nies-
Sc)eme !e#%&*
F(n! T40e 7:&en6Ended
In+e*#men# P%n 7Gro(th
L%(nc) !%#e 7M% 8B, 8??4
Benc)m%$k 7BSE HEAL.H9ARE
A**e# S&Ee >R* c$? 7@B*-@B "Mr6*>68?>8#
M&n&m(m In+e*#men# 7Rs-@???
L%*# D&+&!en! 7;-A-
Bon(* 7;-A-
F(n! M%n%"e$ 7Silesh R' Bhn
Lo%! De#%&*
En#$4 Lo%! 7;-A-
ED&# Lo%! 7>-??J
Lo%! Commen#* 7Exit lod 6 >J if redeemed<s(itched out on
or $efore com&letion of > %rs from the dte
of llotment-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 49
RELIANCE MUTUAL FUND, HUBLI
Tec)n&C(e* (*e! &n me%*($&n" P)%$m% ,(n!
'eta

N nx% 6"x#" %#
nx
8
"x#
8
'eta $ (.6,7*
S#%n!%$! !e+&%#&on >SD? G K +%$
W)e$e -%$ G +%$&%nce
-%$G 0 >$
&
E>$??
@
S.DG @.;:J9L
Shar0e1s %atio
S
t $
%
P &
%
f

S!
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 50
RELIANCE MUTUAL FUND, HUBLI
Shar0e1s %atio $ &(...(*
Re&%nce P)%$m% ,(n!
4a5le & 6
"ear
1 #r $%& ' #r $%& 3 #r $%&
Fund Returns 3.' (.' 33.(
Benchar!
returns
10 1'.1 '6
Gra0h & 6
I;.ER/RE.A.I:; 3 .$le @ re+els tht in the >
st
%er fund return is *-8 nd $enchmr) return
is >?, in the 8
nd
%er fund return is A-8 nd $enchmr) return is >8->, in the *
rd
%er fund return is
**-A nd $enchmr) return is 8B-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 51
RELIANCE MUTUAL FUND, HUBLI
9HA/.ER 0
4I;,I;GS, SUGGES.I:;
A;,
9:;9LUSI:;
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 52
RELIANCE MUTUAL FUND, HUBLI
indin?s2
In the $o+e cse the Relince !ro(th fund return is >?-* hs com&red to $enchmr)
return is @-D-
Relince 0ision fund Bet is more "$et Q># i-e ?-D8DA it indictes it is less ris)%-
9om&red to other funds the stndrd de+ition of Relince Bn)in! fund is 4-?*D4 $%
this (e cn conclude there is more fluctutions-
Relince di+ersified &o(er sector fund does not sho(s the !ood returns s it Is under
&erformin! its shr&e rtio is 6?-??EA-
/erformnce rtio of Relince /hrm fund is in ne!ti+e 6?-88?>-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 53
RELIANCE MUTUAL FUND, HUBLI
Su??estion@Reco::endation2
If the in+estors (nt to !o for minimum ris) then the% cn d&t Relince
/hrm fund- Ris) is ?-@4B>
In+estor hs to select Relince Bn)in! fund $ecuse the ris) is >->?@4 nd
the return is >*-
In+estors cn Fuit from Relince ,i+ersified /o(er sector fund nd Relince
/hrm fund $ecuse it is under &erformin!-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 54
RELIANCE MUTUAL FUND, HUBLI
Conc(*&on7
Lot of &rcticl )no(led!e hs !ined $% me $% crr%in! m% &ro'ect in Relince
Mutul 4und Hu$li- It is one of the ledin! com&n%- 4inll% I cn conclude tht
Guidnce is n im&ortnt criterion for the in+estors to m)e them (re $out
mutul fund schemes nd their returns- Hence sset mn!ement com&nies should
strt &romotionl cm&i!ns for ex&lorin! the )no(led!e nd informtion $out
the mutul fund-
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 55
RELIANCE MUTUAL FUND, HUBLI
BIBLI:GRA/HY
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 56
RELIANCE MUTUAL FUND, HUBLI
BIBLI:GRA/HY
F&n%nc&% &n*#&#(#&on* M m%$ke#*
F&n%nc&% *e$+&ce* m%$ke#*
O,,&c&% Doc(men#*
B$oc)($e* %n! F%c#*)ee#* o, Re&%nce m(#(% ,(n!3 H(5&
O$"%n&E%#&on We5*&#e7 www.$e&%ncem(#(%.com
O#)e$ We5*&#e*7 www.mone4con#$o.com
www.%m,&&n!&%.com
Re,e$ence Book*
Sec($&#4 An%4*&* %n! Po$#,o&o M%n%"emen#
F P(n&#)%+%#)4 P%n!&%n
INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 57
RELIANCE MUTUAL FUND, HUBLI

INSTITUTE OF EXCELLENCE IN MANAGEMENT SCIENCE,
HUBLI 58