Summer Project Report

INVESTMENT BEHAVIOR OF THE CUSTOMERS BETWEEN

MUTUAL FUNDS AND OTHER PRODUCTS

Axis Bank Pvt.Ltd.

Submitted to: K. S. School of Business Management

(In partial fulfillment of MBA degree)

Submitted by:
Hardik Balasara
Roll No. 5087
 DECLARATION

I, Hardik R. Balasara (5087) hereby, declare that the summer project titled,
INVESTMENT BEHAVIOR OF THE CUSTOMERS BETWEEN
MUTUAL FUNDS AND OTHER PRODUCTS is original to the best of my
knowledge and has not been published elsewhere. This is for the purpose of partial
fulfillment of K. S. School of Business Management requirements for the award of
the title of Master of Business Administration, only.

Hardik R. Balasara Signature:

Roll No.- 5087 _______________

K.S. School Of Business Management| 1

 ACKNOWLEDGEMENT

Knowledge is an experience gained in life, it is the choicest possession,

which should not be shelved but should be happily shared with others.

I take this opportunity to express my heartfelt gratitude to my

company guide Mr. Imtiyaz Bahadida (Branch Head) for allowing me
to undertake this project and for all the facilities provided to me.
I would also like to thank all the staffs of Axis Bank for their
support towards my task, I take this opportunity to sincerely express my
profound gratitude to them who took time out of their busy schedules
and provided me the knowledge of Mutual Funds and all other technical
aspects. Their kindness and suggestions stood me in good stead all along
the project work.
I take this opportunity to thank Faculty Guide Prof. Ms. Ingita
Jain for his guidance and valuable advice and constant encouragement,
all through the project and provided with the necessary facilities for
completion of the project.

K.S. School Of Business Management| 2

 PREFACE

In a span of the time, few achievements can be acquired with the individual
effort for the shorter period. Instead, they have been accomplished through the
efforts of many.

Making a summer project on INVESTMENT BEHAVIOR OF THE

CUSTOMERS BETWEEN MUTUAL FUNDS AND OTHER PRODUCTS
was an exciting time. This project is a humble attempt to sketch the various
important aspects of project study. Here in this project we understood the overall
organizations inside view with the help of the primary and secondary data. I learnt
so many important things which gave us the valuable management lessons.

In this project i have learnt most of the things which are related to
management area, namely courage to do different kind of activities, and vision to
achieve the specified goal etc. While making project i acquired practical
knowledge, application of theory and it also enhanced our thinking process. I have
successfully implemented all the information as a whole report but still suggestions
are accepted for getting the benefits to improve.

K.S. School Of Business Management| 3

 EXECUTIVE SUMMARY

In few years Mutual Fund has emerged as a tool for ensuring ones financial
well-being. Mutual Funds have not only contributed to the India growth story but
have also helped families tap into the success of Indian Industry. As information
and awareness is rising more and more people are enjoying the benefits of
investing in mutual funds. The main reason the number of retail mutual fund
investors remains small is that nine in ten people with incomes in India do not
know that mutual funds exist but once people are aware of mutual fund investment
opportunities, the number who decide to invest in mutual funds increases to as
many as one in five people. The trick for converting a person with no knowledge
of mutual funds to a new Mutual Fund customer is to understand which of the
potential investors are more likely to buy mutual funds and to use the right
arguments in the sales process that customers will accept as important and relevant
to their decision.

This Project intends to get in-depth knowledge about the Mutual Funds as
well as know as to what is the knowledge of people about Mutual Funds and learn
what all are the reasons for the lack of knowledge among the people. In order to
know about all the mentioned points a survey was done through questionnaire of
100 customers arriving at Axis Bank or outdoor in market.

K.S. School Of Business Management| 4

 INDEX
Sr. No. Particular Page No.
1 INDUSTRY PROFILE 6
a) Overview Of Indian Banking Industry 7
b) Overview Of Company: Axis Bank 10
c) Purpose Of The Project 12
d) Performance Of The Company 12
e) Organization Structure 13
2 PRODUCTS AND SERVICES 15
a) Retail 16
b) Agri & Rural 19
c) Burgundy 19
d) Priority 19
e) Axis Mutual Funds 20
3 COMPITION ANALYSIS 26
a) Major Mutual Fund Companies in India 27
b) Top funds in Indian Mutual Fund Market 29
a) SWOT Analysis 30
b) Porters Five Force Model 32
4 RESEARCH METHODOLOGY 33
a) Literature Review 34
b) Data Collection Process 36
c) Questionnaire Analysis 37
d) Limitations Of The Study 52
5 FINDING AND CONCLUSION 53
a) Findings & Suggestion 54
b) Conclusion 55
c) References 56
6 APPENDIX 57
a) Questionnaire Sample
b) Feedback Form

K.S. School Of Business Management| 5

K.S. School Of Business Management| 6
 OVERVIEW OF INDIAN BANKING INDUSTRY

Evolution Of The Indian Banking Industry

The Indian banking industry has its foundations in the 18th century, and has had a varied
evolutionary experience since then. The initial banks in India were primarily traders, banks
engaged only in financing activities. Banking industry in the pre-independence era developed
with the Presidency banks, which were transformed into the Imperial Bank of India and
subsequently into State Bank of India. The initial days of the industry saw a majority private
ownership and a highly volatile work environment. Major strides towards public ownership and
accountability were made with nationalization in 1969 and 1980 which transformed the face of
banking in India. The industry in recent times has recognized the importance of private and
foreign players in a competitive scenario and has moved towards greater liberalization.

Role Of Banks
The Banking industry plays a dynamic role in the economic development of a
country. The growth story of an economy depends on the robustness of its banking
industry. Banks act as the store as well as the power house of the countrys wealth. They accept
deposits from individuals and corporate and lends to the businesses. They use the deposits
collected for productive purposes which help in the capital formation in the country.

Today, the Indian Banking System is known the world over for its robustness. The
Reserve Bank of India is the central/ apex Bank which regulates the functioning of all
banks operating within the country.

The banking system largely, comprises of schedules banks (banks that are listed under the
Second Schedule of the RBI Act, 1934). Unscheduled banks form a very small component
(function in the form of Local Area Bank). Scheduled banks are further classified into
commercial and cooperative banks, with the basic difference in their holding pattern.
Cooperative banks are cooperative credit institutions that are registered under the Cooperative
Societies Act and work according to the cooperative principles of mutual assistance.

The role of Bank credit is an important factor to be examined, as it helps to

create favorable situation as well as maintain it for a long period to boost economy.

K.S. School Of Business Management| 7

 (Role of Bank)

Major Players
The Indian banking industry is very robust and continues to grow by leaps and bounds
with is own share of reforms. 11 payment banks are expected to be launched in 2016 and 2017.
The Indian banking industry consists of nearly 26 public sector banks, 25 private sector banks,
43 foreign banks, 56 regional rural banks, 1,589 urban cooperative banks and 93,550 rural
cooperative banks.

Standard & poors estimates inform that credit growth in Indias banking sector would
improve to 12-13 percent in FY16 from less than 10 percent in the second half CY14.

Positive business sentiments, improved consumer confidence and more controlled

inflation are likely to the countrys banking industry growth. Also, the advancements in
technology have brought the mobile and internet banking services to the fore. The banking sector
is laying greater emphasis on providing improved services to their clients and also upgrading
their technology infrastructure, in order to enhance the customers overall experience as well as
give banks a competitive edge.

Time deposits with banks have shown highest average growth of 12.9 percent during
FY06-16 , and stood at US$ 1.44 trillion by the end of October15.

K.S. School Of Business Management| 8

Key player in Indian public sector banking industry

(As on Mar 31, 2016)

Source: Indias Top Banks 2016 by Dun & Bradstreet Information Services India Pvt Ltd.

Key player in Indian private sector banking industry

(As on Mar 31, 2016)

Source: Indias Top Banks 2016 by Dun & Bradstreet Information Services India Pvt Ltd.

K.S. School Of Business Management| 9

 OVERVIEW OF COMPANY: AXIS BANK

Corporate Profile
Axis Bank is the third largest private sector bank in India. The Bank offers the entire
spectrum of financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses.

The bank has a large footprint of 3,304 domestic branches (including extension counters)
and 14,163 ATMs across the country as on 31st March 2017. The overseas operations of the
Bank are spread over nine international offices with branches at Singapore, Hong Kong, Dubai
(at the DIFC), Colombo and Shanghai; representative offices at Dhaka, Dubai, Abu Dhabi and an
overseas subsidiary at London, UK. The international offices focus on corporate lending, trade
finance, syndication, investment banking and liability businesses.

Axis Bank is one of the first new generation private sector banks to have begun
operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit
Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India
(LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The
New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India
Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to
SUUTI, an entity established in 2003.

With a balance sheet size of Rs. 6,01,468 crores as on 31st March 2017, Axis Bank has
achieved consistent growth and with a 5 year CAGR (2011-12 to 2016-17) of 16% in Total
Assets, 13% in Total Deposits, 17% in Total Advances.

The Bank has strengths in both retail and corporate banking and is committed to
adopting the best industry practices internationally in order to achieve excellence.

K.S. School Of Business Management| 10

Vision and Values
Vision of the Bank
To be the preferred financial solutions provider excelling in customer delivery through
insight, empowered employees and smart use of technology.

Core Values
Customer Centricity
Ethics
Transparency
Teamwork
Ownership

Awards and Recognitions

2017
Axis Banks wins the 'Best Use of Mobile within a Loyalty Strategy' at the Loyalty
Awards 2017
Axis Bank wins the 'Best Use of Partnership in a Loyalty Program' at the Loyalty Awards
2017
Axis Bank wins the 'Best Rewards Program' for the 3rd consecutive year at the Loyalty
Awards 2017
Axis Bank has been adjudged the Runner Up in the category of the Best Use of Digital
and Channels Technology amongst Large Banks by the IBA Banking Technology
Awards 2017
Axis Bank has been adjudged the Runner Up in the category of the Best Payments
Initiatives amongst Large Banks by the IBA Banking Technology Awards 2017
Axis Bank has been awarded the CX Innovator Best Omnichannel Customer Success
Story at the 2017 Genesys Customer Innovation Awards
Axis Bank has won the Best DCM House in India at the FinanceAsia Country Awards
2017.
Axis Bank and Axis Capital jointly won the Best Investment Bank in India at the
FinanceAsia Country Awards 2017.
Axis Bank won the Grand Jury Award Institution at the UTI Mutual Fund and CNBC
TV18 Financial Advisor Awards 2016-17.

K.S. School Of Business Management| 11

 PURPOSE OF THE PROJECT

To understand the concept of Mutual Funds.

To know the insight about the peoples knowledge about Mutual Funds.

To know which investment option is more preferred by the people.

To know what are the reasons for people not opting for Mutual Funds and going for other
investment options.

To introduce and provide the kind of work done by me in the organization during my
SIP.

PERFORMANCE OF THE COMPANY

Our progressive approach to bringing next practices to financial services is

complemented by our deep belief in relationships. For us, well-nurtured relationships are the
core building blocks of progress, and there is a certain old-world charm in how we go about
building them. Warmth, care and empathy are essential ingredients in our customer engagement,
and being approachable and available at all times is a core element of our customer centricity.

It is this ability to be progressive and build relationships at the same time that
differentiates Axis Bank. It is the reason we have grown to be Indias third largest private sector
bank, and delivered on stakeholder aspirations consistently.

K.S. School Of Business Management| 12

Net Profit

9000 8,224
8000 7,358
7000 6,218
6000 5,179
5000
3,679
4000
3000
2000
1000
0
2012-13 2013-14 2014-15 2015-16 2016-17

Net Profit

(Rs. In crore)

In terms of Profit Axis Bank makes increment in profit every year but current year it is
decrees because of money demonetization accurse in India

CASA (Current Account and Saving Account)

250000
213,050
200000
169,445
144,400
150000 126,462
112,100
100000

50000

0
2012-13 2013-14 2014-15 2015-16 2016-17

CASA

(Rs. In crore)

CASA refers to Current Account and Saving Account there are number of account are
increasing every year because of new innovation which is made by Axis Bank for their customer

K.S. School Of Business Management| 13

 ORGANIZATION STRUCTURE

Managing Director

Director

Executive Director

Retail and Branch Banking Head

Regional Head National Head

Zonal Head Zonal Head

Cluster Head Area Sales Manager

Branch Manager Regional Sales Managaer

Personal Banker Authorize Sales Manager

Personal Banker Team Leader

Sales Executive

K.S. School Of Business Management| 14

K.S. School Of Business Management| 15
Retail
Accounts

Saving Account
A savings account should be able to give you good interest on your money and
hence an Axis Bank Savings Account is just the account you need to opt for.
Salary Account
Give employees hassle-free access to their salaries, and a multitude of convenient
banking facilities
Current Account
Carry out as many withdrawals and deposits as you need, with current accounts
that suit your business.
AxisDirect Invest Account
AxisDirect account brings all investment options together under one roof, giving
you the power to diversify your portfolio.
Safe Deposit Locker & Safe Custody
Keep your valuables secure, leave their safety concerns to Axis Bank.
National Pension System (NPS)
The scheme is aimed at promoting income security for its investors at their old
age and is also an investment tool that provides market-based returns.
Pension Disbursement Account
Manage your pension payments with ease and enjoy convenient banking services
Sukanya Samriddhi Yojana
This scheme is designed to encourage saving to meet the financial needs like
education and marriage of girl child.
Axis Active
Keep a track of your fitness and make contactless payments on the go with Axis
Active!

K.S. School Of Business Management| 16

Deposits

Fixed Deposits
Recurring Deposits
Tax Saver Fixed Deposits
Fixed Deposit Plus
Encash @$Flexi Deposit

Cards

Credit Cards
Debit Cards
Pre-Paid Cards
Transit Cards
Commercial Credit Cards
Commercial Debit Cards
Digital Payments

Loans

Home Loan
Personal Loan
Car Loan
Super Bike Loan
Loan Against Property
Gold Loan
Loan Against Property
Loan Against Securities
Loan Against Fixed Deposit
Loan Against Shares
Commercial Vehicles & Construction Equipment Loan
Education Loan

K.S. School Of Business Management| 17

Forex

Forex Card
International Fund Transfer
Online Fund Transfer
Foreign Currency Cash
Foreign Currency Demand Drafts
Foreign Currency Travellers Cheques

Investment

AxisDirect
Future Planning Solutions
Gold Mohurs
Silver Mohurs
Mutual Fund
Demat Account
8% Saving Bonds
IPO Smart
Public Provident Fund
Atal Pension Yojana

Insurance

General Insurance
Health Insurance
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana
Bima Uphaar Yojna

K.S. School Of Business Management| 18

Agri & Rural
Accounts

Krishi Saving account

Krishi Current Account

Loans

Kisan Credit Card

Gold Loan
Loans For Rural Godowns
Tractor Loans
Contract Farming
Warehouse Receipt Loans
MicroFinance

Burgundy
Burgundy offers a holistic banking experience that lets you focus on enjoying the
precious moments of your life whilst we help manage your wealth for you.

Priority
Axis Bank priority banking services take the concept of exclusivity and privilege
to a whole new level. Axis Bank priority savings account offers an array of preferential
services like lifestyle benefits, entertainment offers and preferential rates to its customers.

K.S. School Of Business Management| 19

 Axis Mutual Funds
Axis Triple Advantage Fund
We all dream for a bright future for our loved ones and plan our investments accordingly.
However markets fluctuations & changes in the economy can sometimes put an end to your
dreams. Therefore it's advisable to spread your investments across different asset classes.

Build wealth no matter what is happening in the economy

There are obviously no guarantees but you can maximize your chances of making money
irrespective of what is happening in the economy by investing in a diverse range of assets
(such as equity, debt and gold). By balancing your investments across multiple asset classes,
you tend to reduce risk of losing money to economic shocks (like the recent global financial
crisis).

Here's how
Empirical studies have shown that between 1995 and 2009, if you had invested equally in
stocks, bonds and gold, only once would you have lost money i.e. in 1995. In all the other 14
years, average returns from an equal mix of these three assets were positive.

Growth through diversification

There's always a solution. Axis Triple Advantage Fund helps you take advantage of
diversification by investing in a mix of equity, fixed income and gold. This not only helps
avoid monetary surprises but also provides opportunity for wealth growth. With Axis Triple
Advantage Fund, if you have planned for something, chances are you should be able to go
and get it.

Key Features
Provides diversification across three asset classes viz. equity, fixed income and gold
thereby leading to reduction in risk.
Returns potential not compromised even with reduced risk levels.
Returns more stable than pure equity or gold investments over the long term.
Offers convenience. Now one single application is sufficient for investment in three asset
classes.
20 - 30% of investment in gold. Gold is a good hedge against financial crises

K.S. School Of Business Management| 20

 Offering
As Axis Bank Financial Advisory team, we adopt a strong research driven
recommendation model to help you choose the best funds based on qualitative and
quantitative parameters.

Apart from this, a dedicated Relationship Manager can also be assigned to you to ensure
that your investment requirements are taken care of, smoothly and efficiently. Our advisors
understand your profile and lead you through a structured financial planning process to
devise financial solutions best suited to you. The advisors will also help you choose the right
investment products in line with your investment goals.

We offer a unique 'One Page Portfolio Snapshot' report across investment products to our
customers investing in Mutual Funds. This report can be viewed through our Internet
Banking module.

Key Information
Mutual Fund Axis Mutual Fund
Setup Date Sep-04-2009
Incorporation Date Jan-13-2009
Sponsor Axis Bank Limited
Trustee Axis Mutual Fund Trustee Limited
Chairman N/A
CEO / MD Mr. Chandresh Kumar Nigam
CIO N/A
Compliance Officer Mr. Darshan Kapadia
Investor Service Officer Mr. Milind Vengurlekar
Assets Managed Rs. 57,699.85 crore (Mar-31-2017)
Source: moneycontrol.com

About Axis Mutual Funds

Axis Mutual Fund was set up on September 4, 2009 and sponsored by
Axis Bank Limited. Assets of Axis Mutual Fund are managed by Axis Asset
Management Company Limited which January 13, 2009. Mentioned below
are the schemes offered by Axis Mutual Fund for investment in India.

K.S. School Of Business Management| 21

 By Structure
Open Ended
These are schemes that do not have a fixed maturity. The Mutual Fund ensures liquidity
by announcing sale and repurchase price for the unit of an open-ended fund.

Closed Ended
These are schemes that have a fixed maturity. The money of the investor is locked in for
the period. Occasionally, closed-end schemes provide a re-purchase option to the investors,
either for a specified period or after a specified period. Liquidity in these schemes is provided
through listing in a stock market.

By Investment Objective
Equity Schemes
These primarily invest in shares. Based on the objective, investments could be in growth
stocks, where earnings growth is expected to be high, or value stocks, where the view of the fund
manager is that current valuations in the markets do not reflect the intrinsic value. The various
kinds of equity schemes are:

Equity Diversified
All non-theme and non-sector funds can be classified as equity diversified funds.
Mid Cap
These funds invest in companies from different sectors. However they put a restriction in
terms of the market capitalization of a company, i.e., they invest largely in BSE Mid Cap Stocks.

ELSS (Equity Linked Saving Scheme)

ELSS is an open-ended equity growth scheme that is offered by Mutual Funds in line
with existing ELSS guidelines. The investments under this type of scheme are subject to a lock-
in period of 3 years and, as per the Finance Act 2005, are allowed the benefit of income
deduction up to Rs 1,50,000 under section 80(C).

RGESS

Rajiv Gandhi Equity Savings Scheme is a tax advantage savings scheme for first time
retail investors in securities market. It gives tax benefit who invest up to Rs. 50,000 & whose
annual income is below Rs. 12 Lakhs. Tax benefit is up to 50% deduction on investment amount
under section 80 CCG of income tax act.

K.S. School Of Business Management| 22

 Thematic

These schemes invest in various sectors but restrict themselves to a particular theme e.g.,
services, exports, consumerism etc.

Sector Specific

These are schemes that invest in a particular sector for example IT. They have a high degree of
risk associated with them as if that particular sectors do not perform then their returns will suffer.

Flexicap

These kinds of schemes invest across market caps.

Special Funds

There are also schemes to meet financial objective like retirement & child plan.

Debt or Income Schemes

Such a fund invests in interest bearing securities, mainly government securities and corporate
bonds. This fund earns returns for its investors from interest income on its investments and
profits on trading securities. In terms of risk, this type of fund is the least risky.

Money Market Schemes

These schemes invest in short-term debt instruments issued by the government, corporates or
banks. These are typically investments in short term papers like the CPs and CDs etc.

Hybrid Schemes
The types of hybrid schemes are:

Balanced Schemes
Balanced schemes invest in a mix of equity and debt. The debt investments ensure a basic
interest income, which the fund manager hopes to top with a capital gain from the investment in
equities. However loses can eat into basic interest income and capital.

K.S. School Of Business Management| 23

 Monthly Income Plans

MIPs are suitable for conservative investors who along with an exposure to debt do not mind a
small exposure to equities. These funds aim to provide consistency in returns by investing a
major part of their portfolio in debt market instruments with a small exposure to equities. Thus
an MIP would be suitable for conservative investors who along with protection of capital seek
some capital appreciation as MIPs have an exposure to equities. However the monthly income is
not assured.

Hybrid Asset Allocation Funds

These schemes invest in a mix of Equity, Arbitrage and Debt.

Asset Allocation Funds

These schemes invest in a mix of Equity, Debt & Commodity.

Systematic Investment Plan (SIP)

A Systematic Investment Plan (SIP) is a convenient way to accumulate wealth in a disciplined
manner over a long-term period. It helps you to invest regularly in small installments and thereby
build wealth over a period of time.

SIP is a method of investing in a mutual funds scheme. These schemes are offered by the Asset
Management Companies (AMCs) to customers through a distributor. The Bank acts as a
distributor of Mutual Fund products for the AMC to the customers. A customer wanting to invest
in such a scheme can avail of the Systematic Investment Plan option through Axis Bank.

Advantages of SIP
Power of Compounding

SIP helps you to start investing at an early age to meet the greater expenses of your life. Saving a
small sum of money regularly makes money work with greater power of compounding with
significant impact on wealth accumulation.

Rupee Cost Averaging

SIP minimizes the effects of investing in volatile markets. It helps you average out your cost by
generating superior returns in the long run. It reduces the risk associated with lump sum
investments. Since you get more units when the NAV drops and fewer when it rises, the cost
averages out over time, so that the average cost of your investment is often reduced.

K.S. School Of Business Management| 24

 Convenience and Regularity

SIP gives you the convenience to pay through Axis Bank Electronic clearance service (ECS) or
Auto Debit. You can decide the amount and the mutual fund scheme. A fixed amount will
automatically get debited from your account on a date specified by you.

Disciplined approach towards investment

Since you invest regularly, it makes you disciplined in your savings, which leads to wealth
accumulation. Disciplined investing is vital to earning good returns over a longer time frame.

Steps for SIP

Step 1:

Select a mutual fund scheme of your choice with the payment option as SIP.

Step 2:

Decide the investment periodicity (frequency of making payments). You can choose to
make your investment on a monthly or quarterly basis.

Step 3:

Select the minimum investment amount. For instance, you can choose to invest Rs 60,000
every year with a monthly SIP option. This means you would be investing Rs 5,000 every month
in your fund. By the end of a year, you would have invested Rs 60,000 in your fund.

Step 4:

The amount gets converted into units, depending on the Net Asset Value (NAV). NAV is
the market value per unit of a fund. If the NAV in the first month is Rs 20, you will get 250
units. Similarly in the next month if the NAV is Rs 25, you will get 200 units. The following
month if the NAV is Rs 18, then you will get 277.77 units. So, after three months, you would
have 727.77 units. On an average, you would have paid around Rs 20.6 per unit.

Step 5:

The units get accumulated over a period of time. You can stay invested till the time you
wish and redeem your units when you wish to exit from the scheme. The units are redeemed at
the market value (NAV) and you get back your money with returns.

K.S. School Of Business Management| 25

K.S. School Of Business Management| 26
Major Mutual Fund Companies in India
Birla Sun Life Mutual Fund
Birla Sun Life Mutual Fund is the joint venture of Aditya Birla Group and Sun Life
Financial. Sun Life Financial is a global organization evolved in 1871 and is being represented in
Canada, the US, the Philippines, Japan, Indonesia and Bermuda apart from India. Birla Sun Life
Mutual Fund follows a conservative long-term approach to investment. Recently it crossed AUM
of Rs. 10,000 crores.

HDFC Mutual Fund

HDFC Mutual Fund was setup on June 30, 2000 with two sponsors namely Housing
Development Finance Corporation Limited and Standard Life Investments Limited.

HSBC Mutual Fund

HSBC Mutual Fund was setup on May 27, 2002 with HSBC Securities and Capital
Markets (India) Private Limited as the sponsor Board of Trustees, HSBC Mutual Fund acts as the
Trustee Company of HSBC Mutual Fund.

Prudential ICICI Mutual Fund

The mutual fund of ICICI is a joint venture with Prudential Plc. of America, one of the
largest life insurance companies in the US of A. Prudential ICICI Mutual Fund was setup on
13th of October, 1993 with two sponsors Prudential Plc. and ICICI Ltd. The Trustee Company
formed is Prudential ICICI Trust Ltd. and the AMC is Prudential ICICI Asset Management
Company Limited incorporated on 22nd of June, 1993.

State Bank of India Mutual Fund

State Bank of India Mutual Fund is the first Bank sponsored Mutual Fund to launch
offshore fund, the India Magnum Fund with a corpus of Rs. 225 cr. approximately. Today it is
the largest Bank sponsored Mutual Fund in India. They have already launched 35 Schemes out of
which 15 have already yielded handsome returns to investors. State Bank of India Mutual Fund
has more than Rs. 5,500 Crores as AUM. Now it has an investor base of over 8 Lakhs spread
over 18 schemes.

K.S. School Of Business Management| 27

Tata Mutual Fund
Tata Mutual Fund (TMF) is a Trust under the Indian Trust Act, 1882. The sponsors for
Tata Mutual Fund are Tata Sons Ltd., and Tata Investment Corporation Ltd. The investment
manager is Tata Asset Management Limited and its Tata Trustee Company Pvt. Limited. Tata
Asset Management Limited's is one of the fastest in the country with more than Rs. 7,703 crores
(as on April 30, 2005) of AUM.

Kotak Mahindra Mutual Fund

Kotak Mahindra Asset Management Company (KMAMC) is a subsidiary of KMBL. It is
presently having more than 1,99,818 investors in its various schemes. KMAMC started its
operations in December 1998. Kotak Mahindra Mutual Fund offers schemes catering to investors
with varying risk - return profiles. It was the first company to launch dedicated gilt scheme
investing only in government securities.

Unit Trust of India Mutual Fund

UTI Asset Management Company Private Limited, established in Jan 14, 2003, manages
the UTI Mutual Fund with the support of UTI Trustee Company Private Limited. UTI Asset
Management Company presently manages a corpus of over Rs.20000 Crore. The sponsors of
UTI Mutual Fund are Bank of Baroda (BOB), Punjab National Bank (PNB), State Bank of India
(SBI), and

Life Insurance Corporation of India (LIC)

The schemes of UTI Mutual Fund are Liquid Funds, Income Funds, Asset Management
Funds, Index Funds, Equity Funds and Balance Funds.

Reliance Mutual Fund

Reliance Mutual Fund (RMF) was established as trust under Indian Trusts Act, 1882. The
sponsor of RMF is Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the
Trustee. It was registered on June 30, 1995 as Reliance Capital Mutual Fund which was changed
on March 11, 2004. Reliance Mutual Fund was formed for launching of various schemes under
which units are issued to the Public with a view to contribute to the capital market and to provide
investors the opportunities to make investments in diversified securities.

Standard Chartered Mutual Fund

Standard Chartered Mutual Fund was set up on March 13, 2000 sponsored by Standard
Chartered Bank. The Trustee is Standard Chartered Trustee Company Pvt. Ltd. Standard
Chartered Asset Management Company Pvt. Ltd. is the AMC which was incorporated with SEBI
on December 20, 1999.

K.S. School Of Business Management| 28

LIC Mutual Fund
Life Insurance Corporation of India set up LIC Mutual Fund on 19th June 1989. It
contributed Rs. 2 Crores towards the corpus of the Fund. LIC Mutual Fund was constituted as a
Trust in accordance with the provisions of the Indian Trust Act, 1882. . The Company started its
business on 29th April 1994. The Trustees of LIC Mutual Fund have appointed Jeevan Bima
Sahayog Asset Management Company Ltd as the Investment Managers for LIC Mutual Fund.

GIC Mutual Fund

GIC Mutual Fund, sponsored by General Insurance Corporation of India (GIC), a
Government of India undertaking and the four Public Sector General Insurance Companies, viz.
National Insurance Co. Ltd (NIC), The New India Assurance Co. Ltd. (NIA), The Oriental
Insurance Co. Ltd (OIC) and United India Insurance Co. Ltd. (UII) and is constituted as a Trust
in accordance with the provisions of the Indian Trusts Act, 1882.

Top funds in Indian Mutual Fund Market

Scheme Name Nature 1M% 3 M% 6 M% 1 Y% 3 Y%
ICICI Pru Top 100 Large Cap 4.1 3.4 12.1 18.6 12.4
Fund
Birla SL Small and Small & Mid Cap 5.1 2.4 23.1 29.8 26.3
Midcap Fund (G)
Principal Emerging Equity 6.2 4.7 20.0 28.6 25.5
Bluechip
L&T Infrastructure Infrastructure 6.5 6.0 22.6 34.6 20.2
Kotak Nifty ETF Index 5.7 8.0 15.7 16.4 10.2

ICICI Pru Balanced Balanced 3.5 5.1 10.7 19.8 15.7

Fund
UTI Dynamic Bond Debt 0.9 3.7 4.1 12.6 11.2
Fund
Reliance Gilt Sec. Gilt 0.7 4.7 4.0 12.4 12.8
Indiabulls Liquid Liquid 0.5 1.6 3.3 7.0 8.0
Fund
*Note: - Returns calculated for less than 1 year are Absolute returns and returns calculated for more than
1 year are compounded annualized.
(Source: moneycontrol.com)

K.S. School Of Business Management| 29

 SWOT Analysis

STRENGTH
Indian banks have compared favorably on growth, asset quality and profitability with
other emerging economies banks over the last few years.

Policy makers have made some notable changes in policy and regulation to help
strengthen the sector. These changes include strengthening prudential norms. Enhancing
the payments system and integrating regulations between commercial and co-operative
banks.

Bank lending has been a significant driver of GDP growth and employment.

Extensive reach: the vast networking & growing number of branches & ATMs. Indian
banking system has reached even to the remote corners of the country.

In terms of quality of assets and capital adequacy, Indian banks are considered to have
clean, strong and transparent balance sheets relative to other banks in comparable
economies in its region.

WEAKNESS
PSUs need to fundamentally strengthen institutional skill levels especially in sales and
marketing, service operations, risk management and the overall organizational
performance ethic & strengthen human capital.

Old private sector banks also have the need to fundamentally strengthen skill levels.

The cost of intermediation remains high and bank penetration is limited to only a few
customer segments and geographies.

K.S. School Of Business Management| 30

OPPORTUNITY
The market is seeing discontinuous growth driven by new products and services that
include opportunities in credit cards, consumer finance and wealth management on the
retail side, and in fee-based income and investment banking on the wholesale banking
side. These require new skills in sales & marketing, credit and operations.

With increased interest in India, competition from foreign banks will only intensify.

Given the demographic shifts resulting from changes in age profile and household
income, consumers will increasingly demand enhanced institutional capabilities and
service levels from banks.

New private banks could reach the next level of their growth in the Indian banking sector
by continuing to innovate and develop differentiated business models to profitably serve
segments to grow and reaching the next level of performance in their service platforms.
Attracting, developing and retaining more leadership capacity

Foreign banks committed to making a play in India will need to adopt alternative
approaches to win the race for the customer and build a value-creating customer.

With the growth in the Indian economy expected to be strong for quite some time-
especially in its services sector-the demand for banking services, especially retail
banking, mortgages and investment services are expected to be strong.

THREATS
Threat of stability of the system: failure of some weak banks has often threatened the
stability of the system.

Rise in inflation figures which would lead to increase in interest rates.

Increase in the number of foreign players would pose a threat to the PSB as well as the
private players.

K.S. School Of Business Management| 31

 PORTERS FIVE FORCE MODEL

Overall Analysis
The key issue is how banks can leverage their strengths to have a better future. Since the
banks have a great threat from the substitutes like Mutual funds, T-bills, Government securities
so they should concentrate on bringing these products to their customers. As there is a expected
rivalry in the Indian economy Banks have a major role to play.

K.S. School Of Business Management| 32

K.S. School Of Business Management| 33
 LITERATURE REVIEW
Introduction Of Mutual Funds
A mutual fund is a type of professionally-managed collective investment scheme that
pools money from many investors to purchase securities. While there is no legal definition of
mutual fund, the term is most commonly applied only to those collective investment schemes
that are regulated, available to the general public and open-ended in nature. Hedge funds are not
considered a type of mutual fund.

Mutual funds have both advantages and disadvantages compared to direct investing in
individual securities. They have a long history in the United States. Today they play an important
role in household finances.

Mutual funds are classified by their principal investments. The four largest categories of
funds are money market funds, bond or fixed income funds, stock or equity funds and hybrid
funds. Funds may also be categorized as index or actively-managed.

How mutual funds earn money

A mutual fund is a means of investing that enables individuals to share the risks of
investing with other investors. All contributors to the fund experience an equal share of gains and
losses for each rupee invested. A mutual fund owns the securities of several corporations. A
mutual fund pools money from hundreds and thousands of investors to construct a portfolio of
stocks, bonds, real estate, or other securities, according to the kind of investments the mutual
fund trades. Investors purchase shares in the mutual fund as if it was an individual security. Fund
managers hired by the mutual fund company are paid to invest the money that the investors have
placed in the fund. Heeding the adage "Don't put all your eggs in one basket" the holders of
mutual fund shares are able to gain the advantage of diversification which might be beyond their
financial means individually.

Professional management of mutual funds

Mutual funds use professional managers to make the decisions regarding which
companies' securities should be bought and sold. The managers of the mutual fund decide how
the pooled funds will be invested. Investment opportunities are abundant and complex. Fund
managers are expected to know what is available, the risks and gains possible, the cost of
acquiring and selling the investments, and the laws and regulations in the industry. The ability of
the managers to select profitable investments and to sell those likely to decline in value is a key
factor for the mutual fund to earn money for the investors.

K.S. School Of Business Management| 34

Mutual Funds Vs. Other Investments

From investors viewpoint mutual funds have several advantages such as:

Professional management and research to select quality securities

Spreading risk over a larger quantity of stock whereas the investor has limited to buy
only a hand full of stocks. The investor is not putting all his eggs in one basket.
Ability to add funds at set amounts and smaller quantities such as Rs. 500 per month
Ability to take advantage of the stock market which has generally outperformed other
investment in the long run
Fund manager are able to buy securities in large quantities thus reducing brokerage fees

However there are some disadvantages with mutual funds such as:

The investor must rely on the integrity of the professional fund manager
Fund management fees may be unreasonable for the services rendered
The fund manager may not pass transaction savings to the investor
The fund manager is not liable for poor judgment when the investor's fund loses value
Prospectus and Annual report are hard to understand
Investor may feel a lot of control of his investment
There may be restrictions on when and how an investor sells/redeems his mutual fund
shares.

Mutual Fund Danger Part

Unfortunately there have been incidences in which mutual fund managers have traded
stocks at prices other than reported to the investor. An example is the use of closing share price
for reported trades for the day the investor request an execution of his shares. Whereas the
mutual fund manager may have received a more advantageous share price before the closing
share price is set. The mutual fund manager retains the additional gain for himself or his firm.
Since there are usually large volume trades the gain may be substantial even with a fraction of a
share price

K.S. School Of Business Management| 35

 DATA COLLECTION PROCESS

Type of Research
The study is descriptive in nature. This research report analyzes the credit appraisal
system with reference to Axis Bank in detail. It also touches few topics which are the subject
area of an exploratory design like problem with mutual funds, peoples knowledge about it

Data Collection
The data is collected through both Primary and secondary sources:

Primary Data is collected through the responses given by the people visiting axis bank of the
questionnaire provided to them.

Secondary Data is collected through many sources like:

Websites
Reading materials provided by bank to their employees
Books
Information provided by the bank staff.

Data Analysis
The data collected is qualitative and quantitative in nature. The data is interpreted by the
researcher as per his knowledge. The report does not involve any specific research technique.
The packages which can use for the analysis are limited to Microsoft Excel.

K.S. School Of Business Management| 36

 QUESTIONNAIRE ANALYSIS
In order to know whether customers prefer Mutual Funds over the other products I prepared a
questionnaire consisting full details of Mutual Fund. These questionnaires were given to the
customers coming to the Axis bank or outdoor market. The analyses of all the questions along
with the pie chart are described briefly under.

Q. Are you an existing customer of Axis Bank?

Interpretion:

The first question that we asked to the customers was that whether the customers are the
customers of Axis bank or not. The reason for asking this question was to know that the
questions that we are asking are being asked to the Axis Bank customers or not as we are
researching about the knowledge of Axis Bank Customers about Mutual Funds. The response we
got was that 30 out of 100 respondents were the customers of Axis Bank that means that
maximum response that we got were sufficient to know about the customers knowledge about
Mutual funds.

K.S. School Of Business Management| 37

Q. What type of relationship do you have with the bank?

Interpretion:

The next question that we asked from the respondents was to know what type of
relationship they have with the bank. This was necessary as we came to know that around 20%
(of 30 customers) of the customers have invested in mutual funds in the Axis bank itself. Though
many of the customers have the savings account at the bank but the number of people having
mutual funds at the bank was also impressing.

K.S. School Of Business Management| 38

Q. What percentage of your annual income do you save to Invest?

Interpretion:

The above question was asked to know about the what percentage of your annual income
investor save or invest. The reason for asking this question was to gain knowledge about the
investment behavior.

Thus we came to know that the maximum number of people invest their 5 to 10% of income for
investment in different category.

K.S. School Of Business Management| 39

Q. What do you look before investing in a particular investment
option?

Interpretion:

This question was asked to know the view of investor before making investment. The
reason for asking this question was that investor view point is important while choosing any
investment. We found that the main reason for people preferring Mutual fund was that it was a
High risk High return Plan and thus was convenient for the people to invest and reap the benefit
of it.

K.S. School Of Business Management| 40

Q. Which investment option do you feel is better?

Interpretion:

The next question asked was a bit direct question but was a very important one as it
revealed as to how many customers prefer Mutual Funds or any other type of investment option.
The result was very amazing 44% of the customers prefer Mutual funds over the other options.
The second most preferred option was Fixed Deposit. These options were only selected as these
are the most preferred option of investment among the customers. Those question was asked to
every respondent irrespective of whether he/she is customer of Axis Bank or not.

K.S. School Of Business Management| 41

Q. In which type of mutual fund schemes you have invested?

Interpretion:

The above question was asked to know the investment preference of those respondents
who opted Mutual Fund as their investment choice. We got the mixed response for this question.
Though most of them opted for Equity Diversified investment option and the response for other
type of investment option were more or less the same. What was felt while asking this question
was that many of the respondents did not have the complete knowledge of types of Mutual Funds
thus they opted for that which they thought they are familiar with it.

K.S. School Of Business Management| 42

Q. Why do you prefer Mutual Fund over Fixed deposit?

Interpretion:

This question was asked to know the reason for peoples preference of Mutual Funds
over Fixed Deposit. The reason for asking this question was that before doing the final survey we
conducted a primary survey to check the usefulness of the questionnaire and we found that most
of the people either opted for Fixed Deposit or Mutual Funds thus I considered to add this
question as well. We found that the main reason for people preferring Mutual fund was that it
was a High risk High return Plan and thus was convenient for the people to invest and reap the
benefit of it.

K.S. School Of Business Management| 43

Q. What is your frequency of investment in mutual funds?

Interpretion:

The above question was asked to know about the frequency of investment of the
respondent in Mutual Funds. The reason for asking this question was to gain knowledge about
the investment behavior of the customers.

Thus we came to know that the maximum number of people invest for the period of 2-5
years or for less than 1 year.

K.S. School Of Business Management| 44

Q. What is your quantum of investment in Mutual funds?

Interpretion:

This question was asked to know the quantum of investment of the people. The
respondents were given two options Lump sum and SIP and it was found that the respondents
responded Lump sum is good option for investing.

K.S. School Of Business Management| 45

Q. You have invested for long term or short term in Mutual Funds?

Interpretion:

This question was asked to know the period of investment of the people. The respondents
were given two options Long Term and Short Term and it was found that the respondents
responded Long term is good option for investing.

K.S. School Of Business Management| 46

Q. Which type of schemes do you prefer to invest?

Interpretion:

This question was asked to know the schemes preference of investment of the people.
The respondents were given two options Open Ended and Close Ended and it was found that the
most respondents prefer open Ended while investing.

K.S. School Of Business Management| 47

Q. What is your source of information about mutual funds updates?

Interpretion:

This was a very general question its purpose was to know that what are the sources of
Mutual Fund updates. Maximum numbers of respondents gain knowledge of Mutual Funds
through Electronic Media and all the sources had less number of weightage. Around 3% of the
respondents selected TV advt. and internet.

K.S. School Of Business Management| 48

Q. Reason for investing in F.D./ R.D./ P.O. Deposit Schemes?

Interpretion:

The next question asked was a bit direct question but was a very important one as it
revealed as to reason for customers not prefer Mutual Funds. The result was very amazing 73.2%
of the customers not prefer Mutual funds because of risk. The second most preferred option was
return.

K.S. School Of Business Management| 49

Q. Have you ever invested in Mutual funds?

Interpretion:

This was another direct question asked to the respondents to know that whether they have
invested in mutual funds or not. While asking the question it was observed that many
respondents who feel Fixed Deposit, Recurring Deposit, P.O. saving and other investment as
better investing option have invested in mutual funds thus they might be having some reasons for
the change of mind.

Here we can see that around 10.7% of the people have already invested in Mutual Funds and
30% of them have never invested in Mutual Funds. Thus, there are many people who have
knowledge of Mutual Funds and have already invested in it.

K.S. School Of Business Management| 50

Q. You have not invested in mutual funds because:

Option 1: No satisfactory return on investment when compared to other investment

instruments.
Option 2: No safety for funds invested.
Option 3: Risky investment instrument.
Option 4: No / Less Liquidity.
Option 5: No knowledge about how to invest.
Option 6: No knowledge about where to invest / investment centers.
Option 7: It is related to share market, so it is very risky and the returns are not guaranteed.

Interpretion:

This was the question specific to those who have never invested in Mutual Funds. It was
asked to know the reason as to why they have never invested in Mutual Funds. With the help of
questionnaire we came to know that many people did not invested in Mutual Funds due to no
safety of fund or no knowledge about how to invest and only 6% have not invested due to no/less
liquidity. Thus, no/less liquidity cannot be classified as the core reason for non-investment in
Mutual Funds.

K.S. School Of Business Management| 51

 LIMITATIONS OF THE STUDY

I could have gone to the other banks and collected the data of their
customers.

The official staff shows a great support and very helpful but because of their
high work pressure they cannot give much time to us.

This report gives major emphasis only on a sub part of Mutual Funds.

The response given by the respondents are limited to their individual

knowledge about the subject.

Apart from these time and resource constraints are always there.

K.S. School Of Business Management| 52

K.S. School Of Business Management| 53
 FINDINGS & SUGGESTION

The most vital problem spotted is of ignorance. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convinced. Investors should be
made to realize that ignorance is no longer bliss and what they are losing by not
investing.

Mutual fund offers a lot of benefit which no other single option could offer but most of
the people are not even aware of what actually a mutual fund is? They only see it as just
another investment option. So the advisors should try to change their mindset. The
advisors should target for more and more young investors. Young investors as well as
person at the height of their career would like to go for advisors due to lack of expertise
and time.

Mutual Fund Company needs tom give the training of the Individual Financial Advisors
about the Fund/ Schemes and its objectives, because they are main source to influence to
investors.

Before making any investment Financial Advisors should first enquire about the risk
tolerance of the investors/customers, their need and time (how long they want to invest).
By considering these three things they can take the customers into consideration.

Younger people aged under 35 will be a key new customer group into the future, so
making greater efforts with younger customers who show some interest in investing
should pay off.

Systematic Investment Plan (SIP) is one the innovative products launched by Assets
Management companies very recently in the industry. SIP is easy for monthly salaried
person as it provides the facility of do the investment in EMI. Through most of the
prospects and potential investors are not aware about the SIP. There is a large scope for
the companies to tap the salaried persons.

Customers with graduate level education are easier to sell to and there is a large untapped
market there. To succeed however, advisors must provide sound advice and high quality.

K.S. School Of Business Management| 54

 CONCLUSION

Running a successful Mutual Fund requires complete understanding of the peculiarities

of the Indian Stock Market and also the psyche of the small investors. This study has made an
attempt to understand the financial behavior of Mutual Fund investors in connection with the
preferences of Brand ( AMC ), Products, Channels etc. I observed that many of people have fear
of Mutual Fund. They need the knowledge of Mutual fund and related terms. Many of people do
not have invested in mutual fund due to lack of awareness although they have money to invest.
As the awareness and income is growing the number of mutual fund investors are also growing.

Brand plays important role for the investment. People invest in those Companies where
they have faith or they are well known with them. Thus the mutual fund companies need to fill in
the confidence among their customers and should educate them about the Mutual Funds so that
they come out of the fear of Mutual Fund risks.

K.S. School Of Business Management| 55

 REFERENCES

Books
Indias Top Banks 2016
By: Dun & Bradstreet Information Services India Pvt Ltd
Marketing Management
by Philip Kotler, Kevin Lane Keller

Annual Report
ANNUAL REPORT OF AXIS BANK

Internal Material of Axis Bank

Information of Axis Mutual Funds
Policies
Circulars
Industrial Policy

Websites
www.axisbank.com
www.axismf.com
www.wikipedia.com
www.docs.google.com
www.investopedia.com
www.moneycontrol.com
www.mutualfundsindia.com
www.amfiindia.com

K.S. School Of Business Management| 56

K.S. School Of Business Management| 57
 Investment Behavior of the Customers between Mutual funds and other products

Investment Behavior of the Customers between Mutual

funds and other products
*Required

Respected Madam / Sir / Investor,

I am doing a research on Mutual Funds at Axis Bank. I will be more obliged if you
could respond to the below mentioned questionnaire. Your response can put more light on my
research work and I can come out with realistic findings.

Yours sincerely
(Hardik Balasara)

1. What is your name? *

2. What is your gender? *

Mark only one oval.
Male
Female

3. What is your age? *

Mark only one oval.
15-25 years
26-35 years
36-45 years
46-55 years
Above 55 years

4. What is your family annual Income? *

Mark only one oval.
Less than 1.5 Lacs
1.5 Lacs to 2.5 Lacs
2.5 Lacs to 3.5 Lacs
3.5 Lacs to 5 Lacs
5 Lacs and above
 5. What is your occupation? *
Mark only one oval.
Student
Housewife
Service
Businessman
Professional

Other:

6. What is your Contact Information?

7. Are you an existing customer of Axis Bank? *

Mark only one oval.
Yes Skip to question 8.
No Skip to question 9.

Skip to question 9.

8. What type of relationship do you have with the bank? *

Tick all that apply.
Saving Banking
Current Account
Term Deposit
Recurring Deposit
Loan
Mutual Fund
Insurance

Skip to question 9.

9. What percentage of your annual income do you save to Invest? *

Mark only one oval.
5 to 10%
10 to 20%
20 to 30%
30% and above
10. What do you look before investing in a particular investment option? *
Mark only one oval.
Returns
Risk Factor
Minimum Investment Amount
Type of investment Option
Lock in Period

Other:

11. Which investment option do you feel is better? *

Mark only one oval.
Mutual Funds Skip to question 12.

Fixed Deposit Skip to question 20.

Recurring Deposit Skip to question 20.

P.O Savings Skip to question 20.

Other: Skip to question 20.

Skip to question 20.

12. In which type of mutual fund schemes you have invested? *

Mark only one oval.
Debt Schemes
Equity based Schemes
Hybrid Fund
Balanced
Gold Fund

Other:

13. Why do you prefer Mutual Fund over Fixed deposit? *

Mark only one oval.
High risk High return
Low risk Low return
Short Term
Tax benefit

Other:
 14. What is your frequency of investment in mutual funds? *
Mark only one oval.
Within 1 year
2-5 years
5-10 years
More than 10 years

15. What is your quantum of investment in Mutual funds? *

Mark only one oval.
Lump sum
SIP

16. You have invested for long term or short term in Mutual Funds? *
Mark only one oval.
Long Term
Short Term

17. Which type of schemes do you prefer to invest? *

Mark only one oval.
Close Ended
Open Ended

18. How do you rate Mutual Fund on the basis of following terms? *
Tick all that apply.

Highly Highly
Satisfactory Average Dissatisfactory
Satisfactory Dissatisfactory
Returns
Risk exposure
Fund Portfolio
Repurchase
Price

19. What is your source of information about mutual funds updates? *

Mark only one oval.
Newspapers
Electronic Media
Advisors Opinion
Word of Mouth

Other:

Stop filling out this form.

20. Reason for investing in F.D./ R.D./ P.O. Deposit Schemes? *
Mark only one oval.
Returns
No Risk Investment

Other:

21. Have you ever invested in Mutual funds? *

Mark only one oval.
Yes
No

22. You have not invested in mutual funds because: *

Tick all that apply.
No satisfactory return on investment when compared to other investment instruments.

No safety for funds invested.

Risky investment instrument.
No / Less Liquidity.
No knowledge about how to invest.
No knowledge about where to invest / investment centers.
It is related to share market, so it is very risky and the returns are not guaranteed.

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