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A mutual fund is a type of professionally managed investment fund that pools money from many
investors to purchase securities. While there is no legal definition of the term "mutual fund", it is
most commonly applied only to those collective investment vehicles that are regulated and sold
to the general public. They are sometimes referred to as "investment companies" or "registered
investment companies". Hedge funds are not mutual funds, primarily because they cannot be
sold to the general public.
The first introduction of a mutual fund in India occurred in 1963, when the Government of
India launched Unit Trust of India (HDFC LIFES). Until 1987, HDFC LIFES enjoyed a
monopoly in the Indian mutual fund market. Then a host of other government-controlled Indian
financial companies came up with their own funds. These included State Bank of India, Canara
Bank, and Punjab National Bank. This market was made open to private players in 1993, as a
result of the historic constitHDFC LIFESonal amendments brought forward by the then
Congress-led government under the existing regime
of Liberalization, Privatization and Globalization (LPG). The first private sector fund to operate
in India was Kothari Pioneer, which later merged with Franklin Templeton. In 1996, SEBI
formulated the Mutual Fund Regulation which is a comprehensive regulatory framework.
Despite being available in the market less than 10% of Indian households have invested in
mutual funds. A recent report on Mutual Fund Investments in India published by research and
analytics firm, Boston Analytics, suggests investors are holding back from putting their money
into mutual funds due to their perceived high risk and a lack of information on how mutual funds
work. There are 46 Mutual Funds as of June 2013.
The primary reason for not investing appears to be correlated with city size. Among respondents
with a high savings rate, close to 40% of those who live in metros and Tier I cities considered
such investments to be very risky, whereas 33% of those in Tier II cities said they did not know
how or where to invest in such assets.
Research Objective
The main objective of the survey conducted on the comparative study of mutual fund and third
party HDFC LIFESon was to examine the factors related to consumers while purchasing a
mutual fund.
iii. To identify the various factors that make the mutual fund market more profitable
than stock market.
RESEARCH METHODOLOGY
As to compare, analyze and interpret, the research has to be done so that the right data is been
collected. I have tried to analyze different Mutual Funds of different companies like HDFC
LIFES, RELIANCE, CANBANK, ICICI, KOTAK MAHINDRA and ZURICH. As to know the
present position of different company’s Mutual Funds it is necessary to go for data and
information but it cannot be possible to get from the questionnaire as analysis and evaluation of
different Mutual Funds are been done by finance team members. So lot of work has been done to
get the data.
Data Collection
Data are collected from two sources that are primary and secondary sources. As in this case data
are collected from primary written source, so data is collected from secondary sources that are
from company’s last years annual reports, websites, booklets, business magazines and other
theoretical and conceptual books of Mutual Fund. Different other sources are been used so as to
get the theoretical aspect and to understand the analysis and to give interpretation.
The Sample
The study analyzed the performance of five mutual fund schemes includes five different sector in
specific schemes. Each of mutual fund schemes both from the public as well as private sector
mutual fund . Among these five sector specific schemes floated by different HDFC LIFESon
have been studies this covered under study are top five mutual fund.
Findings
4. Mutual Funds to offer this sort of counseling which will certainly make a Mutual Fund different from
other HDFC LIFES ons.
RECOMMENDATION &SUGGESTIONSIn order to render the existing Mutual
Funds more effective and purposeful the following steps should be
taken:
There should be comprehensive legislation to control the operations of the Mutual Funds including the
HDFC LIFES. At present, Mutual Funds are subject to guidelines laid down by the RBI, Government of
India and the SEBI and some of the guidelines are contradictories leading to confusion among the Mutual
Fund managers. Further, the guidelines governing the HDFC LIFES are not the same. It is, therefore,
necessary that the Government should come out with single set of comprehensive legislation, which will
uniformly be applicable to public sector and private sector Mutual Funds and the HDFC LIFES
CONCLUSION
Mutual Funds are financial intermediaries concerned with moving savings of those who have
surplus and utilised of these savings in those avenues
such a manner as to afford for their investors the combined benefits of low risk, steady return, high
liquidity and capital appreciation through diversification and expert management. The performance of a
Mutual Fund is dependent on the prudence of the management in selection of scrip, the diversity of
investment in scrips and the extent to which risks are minimized during investment
BIBLIOGRAPHY
BIBLIOGRAPHY
A.K. Vashish
Management of Indian