1. Vidhyashankar S.

(1990) concluded that mutual funds will emerge as a prominent

instrument of savings by the household sector by the turn of this century.
2. Nidhi Walia and Ravi Kiran (2009) concluded that financial markets are constantly
becoming more efficient by providing more promising solutions to the investors. Being a
part of financial markets, although mutual funds industry is responding very fast by
understanding the dynamics of investors perception towards rewards, still they are
continuously following this race in their endeavor to differentiate their products
responding to sudden changes in the economy. Thus, it is high time to understand and
analyze investors perception and expectations, and unveil some extremely valuable
information to support financial decision making of mutual funds. Financial markets are
becoming more exhaustive with financial products seeking new innovations and to some
extent innovations are also visible in designing mutual funds portfolio but these changes
need alignment in accordance with investors expectations.
3. Pandey (2011) In spite of numerous rewards, which mutual funds offer to retail investor,
there are few risks involved while investing in this horizon. There could be downside
risk, which is the perceived risk of suffering financial loss due to negative deviation of
returns, for sure, it is not a stable market, and the perceived fluctuation in return over
time leads to market volatility. Along with this, there is a persistent feeling of ambiguity
among investors due to lack of information and lack of self-competence.
4. Sadhak H (2008) The basis of mutual fund is the pooling concept. Alternatively, mutual
funds pool money from a cross-section of investors by issuing units, constructs a
diversified portfolio of stocks, bonds and other investment instruments, and invests the
same in the capital market.
5. SyamaSunder (1998) conducted a survey to get an insight into the mutual fund operations
of private institutions with special reference to Kothari Pioneer. The survey revealed that
the awareness about mutual funds concept was poor during that time in small cities like
Vishakapatnam. Agents play a vital role in spreading the mutual funds culture; open-end
schemes were much preferred. Age and income are the two important determinants in the
selection of fund; brand image and return are their prime considerations. The role of
uncertainty and lack of knowledge about return on investment avenues are important
components of any investment.
6. Sikidar et. al. (1996) carried out a survey with an objective to understand the behavioural
aspects of the investors towards equity and mutual funds investment portfolio. The survey
revealed that the salaried and self-employed formed the major investors in mutual funds
primarily due to tax concessions. Unit trust of India and state bank of Indias schemes
were popular and other funds had not proved to be a big hit during the time when the
survey was done.
7. Ansari (1993) stressed the need for mutual funds to bring in innovative
schemes suitable to the varied needs of the small savers in order to become
predominant financial service institution in the country.

8. Singh et. al. (2003) identified that past record and growth prospects
influenced the choice of scheme. Investors in mutual funds expected
repurchase facility, prompt service and adequate information. Return,
portfolio selection and NAV were important criteria for mutual funds
appraisal. The ANOVA results indicated that, occupational status; age had
significant influence on the choice of scheme. Salaried and retired categories
had priority for past record and safety in their mutual funds investment
decisions.
9. Campenhout (2007) documented that, while selecting mutual funds
considering the past performance of the fund, the investors interpret high
performance as evidence of superior managerial ability.