A

PROJECT REPORT

ON

“A Study on Comparative Analysis of Selected Mutual Fund

Schemes”

AT
SBI MUTUAL FUND

SUBMITTED TO

SAVITRIBAI PHULE PUNE UNIVERSITY, PUNE

In Partial Fulfillment of the Requirement of
MASTER OF BUSINESS ADMINISTRATION (MBA)

SUBMITTED BY
HARSHALI MILIND VERULKAR

UNDER THE GUIDENCE OF

DR. HARSHADA AURANGABADKAR

MET’S
Institute of Management
Bhujbal Knowledge City
Adgaon, Nashik-422003
2023-24
 DECLARATION

I undersigned hereby declare that, the project entitled, “A Study on

Comparative Analysis of Selected Mutual Fund Schemes.” is executed as
per the course requirement of two-year full-time MBA program of Savitribai
Phule Pune University. This report has not been submitted by me or any
other person to any other University or Institution for a degree or diploma
course. This is my own and original work

Place: NASHIK

Date: Sign of
Student:
 ACKNOWLEDGEMENT

I am very glad to present this project report to the University of

Pune. Firstly, I am thankful to the MET College Nashik for giving me an
opportunity and good chance, so that I was able to work on my Project
Report.

I express my gratitude to our Director Prof. Nilesh Berad

(Director of MET’s IOM College Nashik) as well as my internal guide who
guided me with valuable inputs throughout the project.

I am also thankful to Mr. Uday Jagtap for helping me to understand

the topic “A study on comparative analysis of selected mutual fund schemes.
I am thankful to my respected Faculty Guide namely Dr. Harshada
Aurangabadakar of MET’s IOM College Nashik, without their continuous
support I would not have been able to complete this project.

Date: - / /

Place: -

TABLE OF CONTENT
Chapter no. TITLE Page no.

TITLE PAGE I

INSTITUTE CERTIFICATE II

COMPANY CERTIFICATE III

STUDENTS DECLARATION IV

ACKNOWLEDGEMENT V

EXECUTIVE SUMMARY VI

I. INTRODUCTION

8
a) Background of the study – Past, Present
And
Future
b) Need and Significance of Study
c) Rationale of the study
II. RESEARCH METHODOLOGY 12

a) Type of Research Problem Identification

and Statement
b) Objectives of the Study
c) Type of Research Design
d) Data Sources and Data Collection
Methods
e) Data analysis tools
f) Scope and Limitations of the Study
 III. REVIEW OF LITERATURE & 24
THEORETICAL BACKGROUND OF THE
STUDY

COMPANY AT A GLANCE/ 26
IV. ORGANIZATIONAL PROFILE

Industry Profile

Company Profile
Organizational Chart/Detail Information about
Company

V. DATA ANALYSIS AND INTERPRETATION 36

FINDINGS & CONCLUSIONS 46

VI.
VII SUGGESTIONS / RECOMMENDATIONS 47

BIBLIOGRAPHY 50
 EXECUTIVE SUMMARY

The project is about “A Study on Comparative Analysis of Selected Mutual

Fund Schemes”

A mutual fund is a type of financial intermediary in the capital market that

collects and manages a portfolio of different schemes that invests the
combined funds from retail and corporate participants in debt and equity
instruments on their behalf. Rather than taking on the risk of making a direct
investment in stocks and debt instruments, a mutual fund is a knowledgeable
organization that assists investors in making indirect stock and debt
investments. The typical investor lacks the experience and understanding
necessary to participate directly in India's equities market, and most of the
time, poor bond or equity share selection causes investors to lose money. As
a result, mutual funds operate as a middleman, offering active portfolio
management skills and risk diversification through distributing investor
investments across a range of debt and equity securities.
I've chosen 9 mutual funds schemes to work with for this study project. The
project report has seven chapters in it. The first section is introduction,
which includes information on mutual funds, performance evaluation
metrics, etc. The research methodology, which follows the second chapter,
contains all of the study's details, including the goal, problem statement,
research design, study limitations, variables, and so on. The third chapter
comprises a review of the literature and the theoretical underpinning of the
study. The organization profile is covered in chapter four. Following that,
data analysis is discussed in Chapter 5, which includes data analysis along
with a variety of tables, graphs, and analytical methods. Next up is the
report's findings and conclusion.

The report's last chapter, which covers recommendations and suggestions, is

now available.
 CHAPTER NO-1
INTRODUCTION
 INTRODUCTION

1.1 Basics of MUTUAL FUNDS

What Is a Mutual Fund?

A mutual fund is a financial vehicle that pools investor assets and invests
them in securities such as stocks, bonds, money market instruments, and other
assets. Mutual funds are managed by professional money managers who allocate
the assets of the fund in order to generate capital gains or income for the fund's
investors. The portfolio of a mutual fund is structured and managed to meet the
investment objectives stated in the prospectus.

Glance over Mutual Fund

Mutual funds act as mediators in the investing industry, connecting the

public and private sectors. The general public invests their savings in mutual
funds, and the funds invest the money in a diverse portfolio of shares in numerous
enterprises. Mutual funds are designed to provide small investors with
opportunities to invest in the capital market.
Because small investors often lack the time, knowledge, experience, and money
to directly access the capital market, they must rely on an intermediary who
makes informed investment decisions and delivers the benefits of professional
competence. As a result, Mutual Funds have very strong bargaining power in the
capital market, where many firms allot shares from both the private and public
sectors.
Thus, Mutual Funds, as a non-bank financing institution, link ultimate savers and
ultimate borrowers on big proportions in a required industry and segment of our
economy. A mutual fund is a trust that pools the savings of a group of investors
who all have the same financial goal. The money so gathered is invested in
various types of securities by the fund management, depending on the scheme's
aim. These could include anything from shares to debt products to money market
assets. The plan's unit holders share the income generated by these investments
and the capital appreciation realized by the scheme in proportion to the number
of units they possess.
Thus, a mutual fund is the best investment for the average person since it allows
them to invest in a diverse, professionally managed portfolio at a reasonable cost.
Mutual Funds are accessible to everybody with a few thousand rupees in
investible surplus. Each Mutual Fund plan has a specific investment goal and
strategy.
In today's complex and current financial climate, a mutual fund is the best
investment vehicle. Markets for stocks, bonds and other fixed-income
instruments, real estate, derivatives, and other assets have matured and become
information-driven. Price movements in these assets are influenced by global
events taking place in distant locations.
The average | person is unlikely to have the knowledge, skills, inclination, or time
to keep track of events, grasp their implications, and respond quickly. Individuals
also find it difficult to maintain track of the ownership of their assets, investments,
brokerage fees, and bank transactions, among other things.
A mutual fund is the solution to all of these problems. It hires highly competent
and experienced personnel to oversee each of these functions full-time. The fund's
vast pool of money allows it to engage such staff at a very cheap cost to each
participant. In practice, the mutual fund vehicle takes use of economies of scale
in all three areas: research, investments, and transaction processing.
While the concept of individuals banding together to invest money collectively is
not new, the mutual fund in its current form is a product of the twentieth century.
Mutual funds did not become popular until after World War II. Globally, dozens
of companies provide tens of thousands of mutual funds with various investing
objectives. Mutual funds now jointly manage nearly as much or more money as
banks.
When the fund is launched, a draught offer document must be developed.
Typically, it prespecifies the fund's investment objectives, the associated risk, the
fees involved in the process, and the broad rules for admission into and exit from
the fund, as well as other areas of operation. In India, like in most other countries,
these sponsors must obtain approval from a regulator, in our case the SEBI
(Securities Exchange Board of India).
After that, a sponsor employs an asset management firm to invest the
funds in accordance with the investment aim. It also employs another business to
be the custodian of the fund's assets, and maybe a third to undertake registry work
for the fund's unit holders (subscribers). After that, a sponsor employs an asset
management firm to invest the funds in accordance with the investment aim. It
also employs another business to be the custodian of the fund's assets, and maybe
a third to undertake registry work for the fund's unit holders (subscribers).

In certain circumstances, a sponsor can own the entire Asset Management

Company (AMC). For example, Birla Global Finance is the sponsor of the Birla
Sun Life Asset Management Company Ltd., which has launched various mutual
fund schemes and also serves as an asset manager for the assets collected through
the schemes.
 History of Mutual Funds in India:

People used to invest in gold, real estate, fixed deposits, and other assets to
increase their wealth. However, with the introduction of mutual funds, people
began to invest their hardearned money in financial markets rather than the
conventional manner of investment
A mutual fund is managed by an AMC (Asset Management Company), which
invests in a variety of financial instruments such as equity, bonds, gold, and so
on. They strive to provide reasonable returns to their investors while minimizing
risk. The AMC, on the other hand, must be registered with SEBI (Securities and
Exchange Board of India). SEBI is the stock market's regulating organization and
functions as a watchdog in the market. They ensure that no unfair trading
practices are used in the market.
Unit Trust of India was the first AMC to trade in mutual funds, having been
founded in 1963. The AMC's mission was to educate uneducated investors about
investing in the stock market and other financial instruments. Investing in the
stock market was a rare occurrence in India at the time, and it was considered
gambling. As a result, only a small minority of the Indian populace used to invest
in the stock market.

The mutual fund sector began to proliferate in 1963. The

following is a timeline of events:

• The government establishes the Unit Trust of India in 1963.

• 1964: The first UTI-Unit Scheme is launched.

• The public sector fund house makes its debut in 1987. The first PSU
fund house was SBI Mutual Fund.
• The private sector fund house emerges in 1993. The first private sector
fund house was Franklin Templeton (formerly Kothari Pioneer).
 • From 1993 to 2003, there were many changes. While SEBI took over
mutual fund regulation, the market saw multiple mergers and
acquisitions, as well as the development of international funds.
• 2009: Entry load removal

A portion of the Total Expense Ratio (TER) will be allocated for investor
education in 2012. The Rajiv Gandhi Equity Savings Scheme (RGESS) became
operational.

• Securities Transaction Tax (STT) on equity funds was decreased in

2013. A direct plan for mutual fund schemes was introduced.
• For a debt mutual fund, the definition of long-term was amended from
12 months to 36 months in 2014. The Section 80C exemption ceiling
has been raised to Rs 1.5 lakhs.
• RGESS tax benefits were phased down in 2017. SEBI recategorized the
mutual funds that fund firms must implement.

FUTURE AND GROWTH OF MUTUAL FUNDS IN INDIA

The mutual funds business has enormous potential for growth in the future. A
number of global asset management firms are expanding into Indian markets. The
Securities and Exchange Board of India has approved the launch of commodity
mutual funds. Mutual Funds' effective corporate governance is being highlighted.
Mutual funds in India have the potential to reach out to rural and semi-urban
areas. Financial consultants are being introduced into the market to help
consumers with their financial planning.
1.2 Parties Involved In Mutual Funds:

SEBI It is the governing authority of stock market. Mutual funds legal

framework is regulated by SEBIs guidelines.

INVESTORS Investor is another speculator (who takes on high risks for high rewards)
but one whose primary objective are to safeguard the principle investment,
a steady income and capital appreciation.

TRUSTEES The mutual fund has been formed as a public trust and trustees manage
the trust. They are primarily accountable for protecting the interest of
mutual fund investors.

ASSET SEBI approved asset management company manage the fund by making
MANAGEMENT investment in various types of securities. It manages the investment
COMPANY portfolios o the schemes and handles various other routine activities
incidental to the mutual fund business. Its income comes from the
management fees it charges for schemes it manages.

REGISTERS An investor holding in mutual fund schemes is typically followed by the

schemes RTA (Registrar and transfer Agent). Some AMC‟s prefer to handle it in house.

1.3 Terms Associated with Mutual Funds:-

Units – is equivalent to the term ‗shares‘ which is used in the context of Companies. A Mutual Fund
‗Unit‘ represents a part ownership of the funds of the Mutual Fund investments. The value of a mutual
fund ‗Unit‘ is represented as a ‗NAV‘. When an investor invests in a Mutual Fund‘s scheme, he/she is
allotted units reflecting the value of the she /his investments.

NAV – represents the value of one unit of a mutual fund. NAV is computed on a daily basis by dividing
the total value of investments held by a mutual fund by total number of units of the mutual funds.
Returns in a mutual fund scheme is reflected by increase in the NAV price over a period of time.
Loads – Loads are the terminology used in the mutual fund industry for charges levied either at the time
of purchasing a mutual fund or at the time of selling.

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 Entry Load – is a charge levied at the time of purchase of a mutual fund. Since 2010, these charges have
been abolished. Hence no charges are now deducted by a fund house at the time of purchase.

Exit Load – is a charge levied at the time of selling a mutual fund. Generally these charges are in the
range of 0.5% to 3%. Equity funds generally levy 1% exit load on the total value of the investment
being redeemed, if a person sells their units within 1 year of purchase.

NFO – stands for ‗New Fund Offer‘. A new mutual fund is offered to the public via a New Fund Offer.
It is similar to the term IPO used for shares.

Folio – reflects an account number with the mutual fund house. You can get your mutual fund details
from a fund house by quoting your folio number. The same needs to be quoted while redeeming the
fund.

1.4 Reasons to invest in a Mutual Fund

Mutual funds make saving and investing simple, accessible, and affordable. The advantages of mutual
funds include professional management, diversification, variety, liquidity, affordability, convenience,
and ease of recordkeeping—as well as strict government regulation and full disclosure.
Professional Management: Even under the best of market conditions, it takes an astute, experienced
investor to choose investments correctly, and a further commitment of time to continually monitor those
investments.
With mutual funds, experienced professionals manage a portfolio of securities for you full-time, and
decide which securities to buy and sell based on extensive research. A fund is usually managed by an
individual or a team choosing investments that best match the fund‘s objectives. As economic
conditions change, the managers often adjust the mix of the fund‘s investments to ensure it continues
to meet the fund‘s objectives.

Diversification: Successful investors know that diversifying their investments can help reduce the
adverse impact of a single investment. Mutual funds introduce diversification to your investment
portfolio automatically by holding a wide variety of securities. Moreover, since you pool your assets
with those of other investors, a mutual fund allows you to obtain a more diversified portfolio than you
would probably be able to comfortably manage on your own—and at a fraction of the cost.

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Variety: Within the broad categories of stock, bond, and money market funds, you can choose among
a variety of investment approaches. Today, there are about 8,200 mutual funds available in the U.S.,
with goals and styles to fi t most objectives and circumstances.

Low Costs: Mutual funds usually hold dozens or even hundreds of securities like stocks and bonds.
The primary way you pay for this service is through a fee that is based on the total value of your account.
Because the fund industry consists of hundreds of competing firms and thousands of funds, the actual
level of fees can vary. But for most investors, mutual funds provide professional management and
diversification at a fraction of the cost of making such investments independently.

Liquidity: Liquidity is the ability to readily access your money in an investment. Mutual fund shares
are liquid investments that can be sold on any business day. Mutual funds are required by law to buy,
or redeem, shares each business day. The price per share at which you can redeem shares is known as
the fund‘s net asset value (NAV). NAV is the current market value of all the fund‘s assets, minus
liabilities, divided by the total number of outstanding shares.

Convenience: You can purchase or sell fund shares directly from a fund or through a broker, financial
planner, bank or insurance agent, by mail, over the telephone, and increasingly by personal computer.
You can also arrange for automatic reinvestment or periodic distribution of the dividends and capital
gains paid by the fund. Funds may offer a wide variety of other services, including monthly or quarterly
account statements, tax information, and 24-hour phone and computer access to fund and account
information.

Protecting Investors: Not only are mutual funds subject to compliance with their self-imposed
restrictions and limitations, they are also highly regulated by the federal government through the U.S.
Securities and Exchange Commission (SEC). As part of this government regulation, all funds must meet
certain operating standards, observe strict antifraud rules, and disclose complete information to current
and potential investors. These laws are strictly enforced and designed to protect investors from fraud
and abuse. But these laws obviously cannot help you pick the fund that is right for you or prevent a
fund from losing money. You can still lose money by investing in a mutual fund. A mutual fund is not
guaranteed or insured by the FDIC or SIPC, even if fund shares are purchased through a bank.

15
 Organizational Structure of Mutual Fund Asset Management Company

1.5 Types of Mutual Fund

Mutual funds can be classified into different types based on a variety of factors, including the asset class
they invest in, their investment objective, and their structure.

Based on Asset Class:

● Equity mutual funds: These funds invest in stocks of companies. Equity funds are typically more
risky than other types of mutual funds, but they also have the potential to generate higherreturns.
● Debt mutual funds: These funds invest in fixed-income securities, such as bonds and government
securities. Debt funds are typically less risky than equity funds, but they also offerlower returns.
● Hybrid mutual funds: These funds invest in a mix of equity and debt securities. Hybrid funds
offer a balance of risk and return, and they can be a good option for investors who are looking
for a more diversified portfolio.

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● Money market mutual funds: These funds invest in short-term debt securities, such as Treasury
bills and commercial paper. Money market funds are the least risky type of mutual fund, and they
offer a low but steady return.

Based on Investment Objective:

● Growth funds: These funds aim to generate capital appreciation for investors over the long term.
Growth funds typically invest in equity stocks of companies that are expected to grow faster than
the overall market.
● Income funds: These funds aim to generate regular income for investors through dividends and
interest payments. Income funds typically invest in debt securities and high-yielding equity
stocks.
● Tax-saving funds: These funds are designed to help investors save taxes on their investments.
Tax- saving funds typically invest in equity stocks and offer tax deductions to investors under
Section 80C of the Income Tax Act, 1961.

Based on Structure:

● Open-ended mutual funds: These funds allow investors to buy and sell units on a daily basis.
Open- ended funds are the most common type of mutual fund in India.
● Closed-ended mutual funds: These funds have a fixed number of units that are offered to investors
during the initial public offering (IPO) period. Closed-ended funds are typically listed on stock
exchanges and can be traded like shares.
● Interval funds: These funds are a hybrid of open-ended and closed-ended funds. Interval funds
allow investors to buy and sell units during specific periods of time, typically once every three
months.

Investors should choose mutual funds based on their individual risk appetite, investment
objective, and financial goals. It is also important to diversify one's portfolio by investing in
different types of mutual funds.

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 1.6 NEED AND SIGNIFICANCE OF MUTUAL FUNDS:

Need:

We have several types of investors in society that want to make a larger return on their small savings.
Pensioners, those in the middle-income brackets, and other sorts of investors must be given
opportunities. They cannot afford to invest directly in company shares due to a lack of understanding
and are risk apprehensive. Keeping these factors in mind, investment firms in India, such as the Unit
Trust of India, promoted mutual funds, which attract the savings of lower and middle-income people
while providing them with the benefit of corporate profits through the distribution of attractive
dividends at the end of the year. Mutual funds also cater to different types of customers who are
interested in Fixed income or a higher return for investment or who are ‘growth oriented’. As mutual
funds fulfil all these requirements, they have not only come to stay but are growing too. The government
has also felt the need for regulating their activities through proper legislation.

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 Significance:

Mutual funds provide a host of benefits which make them important. Some of them are listed below.

Convenience:
One of the most noticeable advantages that mutual funds offer investors is ease. They can have access
to a large variety of the financial market by investing in a single fund. A typical diversified equities
fund can disperse money among tens of stocks while also investing in fixed income assets.

Diversification:
Furthermore, if an investor wants to concentrate on a certain market segment, such as large cap
companies, funds focused on that segment can spread the investment across many large cap equities
in a single transaction of acquiring the fund. To establish an individual large-cap stock portfolio, the
investor would need to put in a lot of effort, transaction costs, and time. If you try to invest in bonds
on your own rather than through a fund, the situation becomes even more challenging.

Ease of Investment:
Aside from that, mutual funds are simple to buy and sell. To trade in funds, one can either use the
services of a distributor or agency or do it oneself via the internet. Depending on whether a fund was
bought or sold, the transaction value is deducted from or comes directly to the bank account linked to
the mutual fund account.

Spoilt for Choice:

This feature stems from the convenience factor mentioned before. When it comes to mutual funds,
investors have various options. Furthermore, due to their investment objectives, funds have access
to a diverse range of financial instruments, industries, and methods.

Professional Management:
This is one of the elements that emphasizes the significance of mutual funds. Several investors lack
confidence in adopting the financial market route to develop their wealth due to a lack of competence.
They believe they have limited or no ability to invest in stocks and bonds on their own and, even if they
do manage to invest on their own, they lack the time to keep track of their investments. Mutual funds
address this issue by utilizing the experience of the fund management and their team of analysts, who
conduct daily study of financial markets and products. They charge a fee for their professional services,
which are factored into a company's expenditure ratio of mutual fund.
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 Select the Right Mutual Fund

When choosing a mutual fund, it is important to consider the following factors:

● Risk appetite: Investors should choose mutual funds that are aligned with their risk appetite. Risk
appetite is the amount of risk that an investor is willing to take in order to achieve their investment
goals. Investors with a high risk appetite may be willing to invest in equity funds, while investors
with a low risk appetite may be more comfortable investing in debt funds.
● Investment objective: Investors should also choose mutual funds that are aligned with their
investment objective. Investment objective is the reason why an investor is investing. Some
common investment objectives include saving for retirement, buying a home, or saving for a
child's education.
● Financial goals: Investors should also consider their financial goals when choosing mutual funds.
Financial goals are the specific amounts of money that an investor wants to save by a certain date.
For example, an investor may have a financial goal of saving Rs. 1 crore for retirement.
● Time horizon: Investors should also consider their time horizon when choosing mutual funds.
Time horizon is the amount of time that an investor has to invest. Investors with a long time
horizon can invest in equity funds, while investors with a short time horizon may be more
comfortable investing in debt funds.

Once investors have considered all of these factors, they can start to narrow down their choices
and select the right mutual funds for their needs. It is important to do thorough research on
different mutual funds before investing. Investors should read the fund's prospectus and compare
different funds before making a decision.

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 CHAPTER NO-2
RESEARCH METHODOLOGY

21
 RESEARCH METHODOLOGY

One of the most important uses of research methodology is that it helps in identifying the problem,
collecting and analysing the required information and providing an alternative solution to the problem.
It also helps in collecting the vital information that is required by the top management to assist them
for the better decision making both day to day decisions and critical ones.

a) Research Problem:

“A Study on Comparative Analysis of Selected Mutual Fund Schemes”

In a comparative market there are multiple mutual funds working in the Indian market. It is
necessary to know mutual fund as the performance of the mutual fund decides the future of
Mutual Fund Company. In my study I have compared 3 AMC‟s with each other and in which
AMC performance is better than the other AMCs.

b) Objectives:
1. To study market trends in mutual fund
2. The analyse risk and return of different schemes of mutual fund.

3. To analyze that which of selected mutual funds provide better return at lower

the risk
4. To do comparative analysis of selected mutual fund schemes

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 2. Type of research Design:

Quantitative research is a systematic investigation of phenomena by gathering quantifiable data and

performing statistical, mathematical, or computational techniques. Quantitative research collects
information from existing and potential customers using sampling methods and sending out online
surveys, online polls, and questionnaires.

Quantitative research characteristics:

Structured tools: Structured tools such as surveys, polls, or questionnaires are used to gather
quantitative data.
Sample size: Quantitative research is conducted on a significant sample size that represents the target
market.
Close-ended questions: Closed-ended questions are created per the objective of the research.
Quantitative data: Usually, quantitative data is represented by tables, charts, graphs, or any other non-
numerical form.

3. Data Sources and Data collection method:

There are mainly two through which the data required for the research is collected.

Secondary Data

Secondary data for the study is gathered from books, records, and registers kept by the organization,
government. semi-government publications University and research institution publications, Bank
and financial institution publications, newspaper and periodicals, committee and commission reports,
International Bodies publications, Unpublished sources.
Advantages of Secondary data :
1. It is really easy to use
2. It saves money on research
3. It saves time.

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Secondary data sources:

1)AMFI website

2) Money Control website

3) Mutual funds Factsheets

4) Screener website

5) Research Papers

6) Reference Books

e) Data analysis tools:

I have used excel as an analysis tool.

f) Scope and Limitations of the study:

SCOPE OF THE STUDY:

1 It includes comparative study on Index and Non-Index mutual funds.

2 It measures their performance.

3 It focuses on future performance of mutual fund schemes and their related concepts.

Limitations of Secondary data:

1. As primary data, the degree of precision is low.

2. Not all types of investigations are available.

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 CHAPTER 3
LITERATURE REVIEW

25
 REVIEW OF LITERATURE & THEORETICAL
BACKGROUND OF THE STUDY

Review of literature is very important to give better understanding and insight necessary to
develop a broad conceptual framework in which a particular problem can be examined. It helps in the
formation of specific problem and helps acquaint the investigator to what is already known in relation
to the problem under review and it also provides a basis for assessing the feasibility of the research.
Review of literature is important to a scholar in order to know what has been established and
documented as there are critical summaries of what is already known about a particular topic.
Therefore, a review of literature helps in relating the present study to the previous ones in the same
field.

1. (Dr.K.M.Sudha, 2020) Conducted research on “Comparative Study on Selected Mutual Fund”. The
objective of the study is to comparative performance analysis fir selected mutual funds for five years
and also risks and returns of mutual funds. This study evaluates the analysis of returns that takes place
for five years and their volatility based on investment. The sources of data are secondary data. The tools
used for analysis are simple average method and standard deviation method and simple comparative
analysis method and ranking method. The findings that is not advisable to invest equity fund category
as the market undergoing fluctuations asset components are subject to high risk.

2. (Anuja Magdum, March 2019) Conducted research on “A Comparative study on Mutual Fund
Schemes of Selected AMC's in India”. The objective of this research is that to provide better returns
for the schemes promised by AMC‟s and compare the mutual fund schemes of selected public and
private sector AMC‟s in India. The data collected for the study is to consider the 5 years and for
comparison 4 AMC‟s with each other. For a risk free return fixed deposit rate are used and the data are
collected from the yahoo finance, AMFI website and value research website. The methodology used in
this research is beta and CAGR. The study has investigated the performance of equity based MF schemes
in India and the private sector can better performed compare to the public sector.

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3. Comparative Analysis of SBI Mutual Funds and HDFC Mutual Fun.” The objective of the study is
to analyze and compare the performance of SBI and HDFC mutual fund with special reference to Equity
and balanced mutual fund. The study is based on the analysis of secondary data which is collected from
reviewing different research papers and articles published by different authors. The method for study is
use standard deviation, beta, alpha, Sharpe ratio, Correlation – coefficient. The research was found that
the rate of return of HDFC is higher than the SBI.

4. (Nadia, March,2018) Conducted research on “A Comparative Analysis of Mutual Fund Schemes”.

The objective is to analyze the risk and return of the selected fund schemes and compare the same with
BSE-Sensex and also compare the performance with the market index whether they are outperforming
or underperforming. The research methodology consists of primary and secondary data. The secondary
data collected from the various sources. The data are measuring through standard deviation, beta, alpha
and coefficient of determination. The result of this study is to find out the 14 schemes are outperformed
the benchmark returns.

5. (N.Nandhini Devi, Dr.A.Velanganni Joseph, Sep.2017) Conducted research on “Determinants of

Mutual Fund Selection by Individual Investors in Coimbatore City”. The objective of this study is
to examine the factors that are considered important in selecting a mutual fund and to identify the
information influences the mutual fund investors. To accomplish the objective, a questionnaire survey
was designed to identify the fund selection criteria adopted by mutual fund investors. The result of the
study after analyzing the response collected from 526 mutual fund individual investors in Coimbatore
city and the print media source has high influence on mutual fund investor‟s decision making.

6. (Manisha Raj, Oct.2018) Conducted research on “Performance of Mutual Funds in India: A

Comparative Analysis of SBI Mutual Funds and HDFC Mutual Fun.” The objective of the study is
to analyze and compare the performance of SBI and HDFC mutual fund with special reference to Equity
and balanced mutual fund. The study is based on the analysis of secondary data which is collected from
reviewing different research papers and articles published by different authors.

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 CHAPTER 4
PROFILE OF COMPANY

28
Overview of Selected AMC’S IN INDIA

1. Introduction – SBI Mutual Funds Asset Management Company

SBI Mutual Funds, a subsidiary of the State Bank of India, stands as one of India's largest and most
trusted mutual fund companies. Established in 1987, SBI Mutual Funds has played a pivotal role in the
Indian financial landscape, offering a wide array of investment products to individual and institutional
investors. With a commitment to financial expertise, innovation, and customer satisfaction, SBI Mutual
Funds has consistently delivered superior investment solutions.

SBI Mutual Fund is India‘s largest bank-sponsored mutual fund and has an enviable track record in
judicious investments and consistent wealth creation. The fund traces its lineage to SBI- India‘s largest
banking enterprise. The institution has grown immensely since its inception and today it is India‘s
largest bank, patronized by over 80% of the top corporate houses of the country.

SBI Mutual Fund is a joint venture between SBI and Amundi, a European asset management company.
SBI has a 63% stake in SBI Funds Management Pvt Ltd (SBIFMPL), while Amundi Asset Management
holds the remaining 37%.

SBI Mutual fund is a joint venture between the state bank of India and Society General Asset
Management, one of the world‘s leading fund management companies that manage over US $ 500
Billion worldwide. In twenty years of operation, the fund has launched 38 schemes and successfully
redeemed fifteen of them. In the process, it has rewarded its investors handsomely with consistently
high returns.

29
Mission Statement:

"Empowering Every Indian to Achieve Financial Prosperity. We are dedicated to providing innovative
and reliable investment opportunities that create wealth and ensure financial security for our investors."

Key Informationb about SBI Mutual Fund :

Mutual fund name SBI Mutual Fund

Asset management company name SBI Funds Management Ltd.
AMC Setup Date June 29, 1987
AMC Incorporation Date February 7, 1992
Sponsor name State Bank of India
AMUNDI
Trustee organisation SBI Mutual Fund Trustee Company
Private Limited
MD and CEO Mr Vinay M Tonse
CIO Mr. R Srinivasan(Equity) and Mr Rajeev
Radhakrishnan(Fixed Income)
Compliance Officer Ms. Vinaya Datar
Investor Service Officer Mr CA Santosh
Total AUM (as of end of last quarter) Rs. 627589 Cr.

30
Product Offerings and Fund Categories
SBI Mutual Fund offers a wide range of mutual fund schemes across the following categories:

● Equity funds: Equity funds invest in stocks of companies listed on the

stock exchange. Equity funds are suitable for investors who have a high

risk appetite and a long-term investment horizon.

● Debt funds: Debt funds invest in fixed-income securities such as

government bonds, corporate bonds, and money market instruments. Debt

funds are suitable for investors who have a low risk appetite and a short-

term investment horizon.

● Hybrid funds: Hybrid funds invest in both stocks and bonds. Hybrid

funds are suitable for investors who have a moderate risk appetite and a

medium-term investment horizon.

● Exchange-traded funds (ETFs): ETFs are passively managed baskets of

securities that track a particular market index. ETFs are suitable for

investors who are looking for a low-cost and diversified investment

option.

SBI Mutual Fund offers a variety of schemes within each fund category, catering to the different needs

of investors. For example, the company offers equity funds with different investment objectives, such

as large-cap funds, mid-cap funds, small-cap funds, and sector funds. Similarly, the company offers

debt funds with different investment horizons, such as short-term funds, medium-term funds, and long-

term funds.

31
2. Axis Mutual Fund
Axis Asset Management Company Ltd., the formal name of Axis Mutual Fund, is the mutual
fund investment wing of Axis Bank, one of the largest private banks in India. 74.99% share of the AMC is
held by Axis Bank while the rest 24% is held by Schroder Singapore Holdings Private Limited.

The Axis MF AMC was incorporated back in October 2009 and has since abided by its three pillars:

I. Outside-in view – Communicate with customers in their language to assist better in taking the right
investment decision.

II. Long-term wealth creation – Encourage investors to create a long-term investment strategy and play a
critical role in their wealth management.

III. Long-term relationship – Build relationships beyond finances.

As of March 31, 2023, the AMC has reported Assets Under Management (AMU) for schemes of Axis
Mutual Funds at Rs. 2.6 lakh crores.

It has 31 investment teams operating across 19 nations in the Middle East, Europe, America, and
Asia. The product lineup of Axis Mutual Fund includes over 53 different schemes. It is present in over 100
cities and has over 98 lakh active investor accounts.

Key information about Axis Asset Management Company Ltd.

Asset management company name Axis Asset Management Company Ltd.

AMC Setup Date 4 September 2009

AMC Incorporation Date 13 January 2009

Sponsor name Axis Bank Limited

Trustee organisation Axis Mutual Fund Trustee Limited

32
 Mr. Radhakrishnan Nair

Mr. Vijayalakshmi lyer

Name of trustees Mr. Venkat Chalasani

Mr. Rudrapriya Ray

Mr. Murray Coble

MD and CEO Mr. Chandresh Kumar Nigam

Mr. Jinesh Gopani (Equity) and Mr. R

CIO
Sivakumar (Fixed Income)

Compliance Officer Mr. Darshan Kapadia

Investor Service Officer Mr. Milind Vengurlekar

Total AUM (as of end of last quarter) Rs. 253906 Cr.

3. Kotak Mutual Fund

Kotak Mahindra Asset Management Company Limited (KMAMC) is a public limited company
registered under the Companies Act, 1956 on August 2, 1994. The company is the asset manager of
Kotak Mahindra Mutual Fund (KMMF) and a wholly and a subsidiary of Kotak Mahindra Bank
Limited (KMBL).

Kotak Mutual Fund began its operations back in December 1998. It was the first AMC to offer a
dedicated gilt fund for investing solely in Government securities.

It provides mutual fund and portfolio management services under SEBI ('Mutual Funds') Regulations,
1996 and SEBI (Portfolio Manager) Regulations, 1993. KMAMC also offers pension fund
management services through its subsidiary, the Kotak Mahindra Pension Fund Limited.
33
 Currently, the company offers around 261 schemes catering to the variable risk appetite of investors.
It primarily invests in AAA and AA rated companies and possesses a substantial value of assets under
management (AuM). KMAMC also provides customers with the option to avail income tax benefits
under Section 80C. As of 31st March 2023, the asset under management of Kotak AMC is more than
2.86 lakh crores.
Key information

Mutual fund name Kotak Mahindra Mutual Fund

Founded 23 June 1998

AMC Incorporation Date 5 August 1994

Sponsor name Kotak Mahindra Bank Limited

Trustee organization Kotak Mahindra Trustee Co. Ltd.

Chairman Mr. Uday Kotak

MD and CEO Mr. Nilesh Shah

CIO Mr. Harsha Upadhyaya (E) and Ms. Lakshmi Iyer (D)

Compliance Officer Ms. Jolly Bhatt

34
Comparative Aanalysis of selected mutual fund schemes:

 Equity - Large Cap

1. SBI Bluechip Direct Plan Growth

Year 1Yr 3Yr 5Yr

Fund return % 12.7 18.2 15.5

Category Avg % 12.4 17.2 14.0

Rank in Category 35 16 9

Specialty: Invests in large-cap companies, which are companies with a market capitalization of over 25000
crore. Large-cap companies are generally more stable than mid-cap and small- cap companies, but they also
have the potential for lower returns.

Fund Launch Date: 14 Feb 2006 Return Since launch 11.99%

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 18.2%
& 15.52%. The SBI Bluechip Fund comes under the Equity category of SBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for SBI Bluechip Fund is ₹5,000 and for
SIP, it is ₹500.

Risk: Large-cap funds are generally less risky than mid-cap and small-cap funds, but they also have the
potential for lower returns.

Min Investment Amt ₹5000

AUM ₹38,598 Cr

NAV 73.61

35
36
 2. Axis Bluechip Fund Direct Plan Growth

Year 1Yr 3Yr 5Yr

Fund return % 7.3 11.6 13.7

Category Avg % 12.4 17.2 14.0

Rank in Category 91 60 44

● Specialty: Invests in large-cap companies, all large cap funds need to invest at least 80% of their assets
in the top 100 companies by market capitalization. Large-cap companies are generally more stable than
mid-cap and small- cap companies, but they also have the potential for lower returns.

 Fund Launch Date: 05 Jan 2010 Return Since launch 12.4%

● Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around
11.6% & 13.7%. The Axix Bluechip Fund comes under the Equity category of Axis Mutual Funds.

● Minimum Investment Amount: Lump sum minimum amount for Axis Bluechip Fund is ₹5000 and
for SIP, it is ₹500

● Risk: The riskometer level of Axis Bluechip Fund is very High.

Min Investment Amt

₹1000
AUM ₹30,733Cr

NAV 54.59

37
38
 3. Kotak Bluechip Fund Direct Growth

Year 1Yr 3Yr 5Yr

Fund return % 13.1% 18.4 16.4

Category Avg % 12.4 17.2 14.0

Rank in Category 33 14 6

● Specialty: Invests in large-cap companies, Portfolio Investment large cap companies invest equity and
equity related securities. Large-cap companies are generally more stable than mid-cap and small- cap
companies, but they also have the potential for lower returns.

 Fund Launch Date: 07 Dec 1998 Return Since launch 18.60%

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 18.4%
& 16.4%. The Kotak Bluechip Fund comes under the Equity category of Kotak Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Kotak Bluechip Fund is ₹5000 and for
SIP, it is ₹500

Min Investment Amt ₹5000

AUM ₹6,405Cr

NAV 499.28

39
40
  Equity- Midcap Fund

1. SBI Magnum Midcap Fund Direct Plan Growth

Year 1Yr 3Yr 5Yr

Fund return % 26.7 30.3 23.0

Category Avg % 29.2 26.7 20.1

Rank in Category 27 6 8

 Specialty: Invests in mid-cap companies, which are companies with a market capitalization between
1000 crore and 25000 crore. Mid-cap companies have the potential to grow rapidly and generate
high returns, but they are also more volatile than large-cap companies

 Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been
around 30.3% & 23.0%. The SBI Magnum Mid Cap Fund comes under the Equity category of SBI
Mutual Funds.
● Minimum Investment Amount: Lump sum minimum amount for SBI Magnum Mid Cap Fund is
₹5,000 and for SIP, it is ₹500.
● Risk: Mid-cap funds are generally more risky than large-cap funds, but they also have the potential to
generate higher returns.

Min Investment Amt ₹5000

AUM ₹13,202Cr

NAV 26.7%

41
42
 2. Axis Midcap Direct Plan Growth

Year 1Yr 3Yr 5Yr

Fund return % 20.5 21.2 20.5

Category Avg % 29.2 26.7 20.1

Rank in Category 35 24 13

 Specialty: Invests in mid-cap companies, according to market capitalization 101 rank to 250 rank.
Axis Midcap fund pre dominantly invested equity & equity related securities of 101 rank to 250 rank
companies.

 Fund Launch Date: Feb 2011 Return Since launch 18.97%

 Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been
around 21.2% & 20.5%. The Axis Midcap Fund comes under the Equity category of Axis Mutual
Funds.
 Minimum Investment Amount: Lump sum minimum amount for Axis Midcap Fund is ₹5000
and for SIP, it is ₹500.
 Risk: Mid-cap funds are generally more risky than large-cap funds, but they also have the potential
to generate higher returns.

Min Investment Amt ₹5000

AUM ₹33,699Cr

NAV 82.2

43
44
 3. Kotak Emerging Equity Fund Direct Growth Plan

Year 1Yr 3Yr 5Yr

Fund return % 24.84 27.99 23.24

Category Avg % 29.2 26.7 20.1

Rank in Category 32 11 7

 Specialty: Invests in mid-cap companies, according to market capitalization 101 rank to 250 rank.
Axis Midcap fund pre dominantly invested equity & equity related securities of 101 rank to 250 rank
companies. Mid-cap companies have the potential to grow rapidly and generate high returns, but they
are also more volatile than large-cap companies

 Fund Launch Date: March 2007 Return Since launch 14.16%

 Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around
27.99% & 23.24%. The Kotak Emerging Equity Fund comes under the Equity category of Kotak
Mahindra Mutual Funds.

 Minimum Investment Amount: Lump sum minimum amount for Kotak Emerging Equity Fund
is ₹5000 and for SIP, it is ₹500.

 Risk: Mid-cap funds are generally more risky than large-cap funds, but they also have the
potential to generate higher returns

Min Investment Amt ₹5000

AUM ₹33,700Cr

NAV 96.42

45
46
  Equity – Flexicap Cap Fund

1. SBI Flexicap Fund Direct Growth Plan

Year 1Yr 3Yr 5Yr

Fund return % 14.2 18.5 15.5

Category Avg % 16.1 18.9 15.2

Rank in Category 51 29 20

● Specialty: A flexi-cap fund is a type of equity mutual fund that can invest in companies of all market
capitalizations, from large-cap, mid-cap, small-cap. Flexicap funds potential to give good
diversification. This gives the fund manager the flexibility to invest in companies that they believe have
the best potential for growth, regardless of their size.

● Fund Launch Date: Sep 2005 Return Since launch 13.59%

● Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around
18.5% & 15.5%. The SBI Flexicap Fund comes under the Equity category of SBI Mutual Funds.
● Minimum Investment Amount: Lump sum minimum amount for SBI Mutual Fund is ₹1000 and
for SIP, it is ₹500

● Risk: Flexi-cap funds are generally more risky than large-cap funds, but they also have the potential
to generate higher returns.

Min Investment Amt ₹5000

AUM ₹17,570Cr

NAV ₹ 98.12

47
48
 2. Axis Flexicap Cap Fund Direct Growth Plan

Year 1Yr 3Yr 5Yr

Fund return % 10.7 13.8 14.8

Category Avg % 16.1 18.9 15.2

Rank in Category 65 48 28

● Specialty: A flexi-cap fund is a type of equity mutual fund that can invest in companies of all market
capitalizations, from large-cap, mid-cap, small-cap. Flexicap cap fund no sector restriction either they
can invest across sector. Flexicap funds potential to give good diversification. This gives the fund
manager the flexibility to invest in companies that they believe have the best potential for growth,
regardless of their size.

● Fund Launch Date: Nov 2017 Return Since launch 15.16%

● Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around
13.8% & 14.8%. The Axis Flexicap Fund comes under the Equity category of Axis Mutual Funds.

● Minimum Investment Amount: Lump sum minimum amount for Axis Midcap Fund is ₹5000and
for SIP, it is ₹500.

● Risk: Flexi-cap funds are generally more risky than large-cap funds, but they also have the potential
to generate higher returns.

Min Investment Amt ₹5000

AUM ₹10,605Cr

NAV ₹ 21.96

49
50
 3. Kotak Flexicap Fund Direct Growth

Year 1Yr 3Yr 5Yr

Fund return % 13.8 17.9 15.1

Category Avg % 16.1 18.9 15.2

Rank in Category 57 35 25

● Specialty: These funds are a sub-category of equity mutual funds equity. Fund managers have the
flexibility to invest asset across market capitalization such as large-cap, mid-cap, small-cap. Flexicap
cap fund no sector restriction either they can invest across sector. Flexicap funds potential to give good
diversification.

● Fund Launch Date: Sep 2009 Return Since launch 14.12%

● Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around
17.9% & 115.1%. The Kotak Flexicap Fund comes under the Equity category of Kotak Mutual
Funds.

● Minimum Investment Amount: Lump sum minimum amount for Kotak Flexicap Fund is ₹5000
and for SIP, it is ₹500.
● Risk: Flexi-cap funds are generally more risky than large-cap funds, but they also have the potential
to generate higher returns.

Min Investment Amt ₹5000

AUM ₹39,269Cr

NAV ₹ 70.64

51
52
  All One Needs to Know Before Investing in Mutual Funds
As a rule of the thumb, any investment decision should be made only when you understand the basics
well. Over the last two decades, Mutual Funds have become a preferred investment option for many
people. However, there are many investors who are still unclear about the basics of Mutual Funds.

● New Fund Offer (NFO)

When an Asset Management Company (AMC) launches a new scheme, it invites investment from people
through an initial offer for subscription. This offer is known as a New Fund Offer (NFO). The purpose of the
NFO is to raise capital to buy securities for the scheme. It is akin to the IPO for shares offered by companies.
AN NFO for a close-ended fund is available for a stipulated time, post which the offer closes and no new
purchases are permitted. An open-ended fund, on the other hand, usually re-opens for subscription
intermittently with an option to invest at the prevailing NAV
● Net Asset Value (NAV)
In simple words, the Net Asset Value (NAV) is the price of a single unit of the fund. Mathematically
speaking, NAV=(Total Asset Value-Total value of liabilities)/(Total number of outstanding units)
It is the price at which an investor buys units from the AMC. It is calculated daily after the end of the stock
market trading, by taking into consideration the closing price of each security held by the scheme.

In the first scheme (NAV: Rs. 10), you will get 1000 units and in the second scheme (NAV: Rs. 100),
you will get 100 units. Now, let's assume that both the schemes increase by 10%. So, the NAV of the
first scheme will become Rs. 11 and the second scheme will become Rs. 110. Let's look at the value of
your portfolio:

Scheme 1: 1000 units X NAV (Rs. 11) = Rs. 11,000

Scheme 2: 100 units x NAV (Rs. 110) = Rs. 11,000 The

 Systematic Investment Plan (SIP)

As the name suggests, a Systematic Investment Plan or SIP offers investments in a mutual fund
scheme in fixed amounts at regular installments. This is arguably the most preferred mode of
investment, especially for the working class majority of India. An investor can set aside an amount
that he/she wants to invest monthly/ quarterly in a mutual fund and opt for a SIP. Every month/quarter,
on a pre-decided date, the amount is invested and units are purchased at the current NAV.

● Know Your Customer (KYC)

The Know Your Customer or KYC norms issued by the Securities and Exchange Board of India
(SEBI), mandate all Mutual funds to implement a client identification programme. They are also
53
required to verify and maintain records of the identity of investors. All investors are required to be
KYC compliant as a one-time activity while dealing with security markets through a SEBI registered
intermediary like a Mutual Fund, broker, Depository Participant, etc. Investors are also required to
mandatorily undergo an In-Person Verification (IPV) with any of the SEBI registered intermediaries.
Once done, it can be used for all security market dealings.
Registration process
Registering for KYC is a simple process:
• The investor downloads the KYC form from any of the SEBI intermediary's (Mutual
Fund, broker, DP, etc.)
• He/ She fills the form as instructed.
• Provides self-attested copies of the list of documents.
• Carries originals for in-person verification (IPV).
Submits the duly filled and attested form to a SEBI registered intermediary

54
DATA ANYALSIS

55
 Large Cap Fund

Kotak Bluechip
LARGE CAP Axis Bluechip Fund SBI Bluechip Fund
Fund
5 year Return 13.67% 16.46% 15.53%
Alpha
-5.38 2.44 0.95
(End price + DPS – Start
Price)/Start Price
Beta

β = covariance(Market
returns) / variance(Market
0.98 0.89 0.93
returns).

Sharpe Ratio 0.52 1.03 1

Standard Deviation 13.81 12.47 12.77

The table and chart are representing the large cap fund 5 year return, Alpha, Beta, Sharpe Ratio and SD of
the all 3 selected AMC‟s.

56
 Midcap Fund

SBI Magnum Midcap Kotak Emerging

Midcap Fund Axis Midcap Fund
Fund Equity Fund
5 year Return 26.7 24.84 20.5
Alpha 4.38 2.1 3.3

(End price + DPS –

Start Price)/Start Price
Beta 0.85 0.9 0.80

β = covariance(stock
returns, index returns)
/ variance(index
returns).

Sharpe Ratio 1.68 1.6 1.17

Standard Deviation 15.09 14.61 12.16

16 15.09 14.61
14 12.16
12
10
8
6 4.38
3.3
4 2.1 0.9 1.6
1.68 1.17
2 0.85 0.8
0
Alpha Beta Sharpe Ratio Standard
Deviation

SBI Magnum Midcap Fund Kotak Emerging Equity Fund Axis Midcap Fund

57
 Large Cap Fund

Fund Name AUM NAV RETURN(%)

(IN Rs. Cr.)
SBI Bluechip Fund 38,598 73.61 12.7 18.2 15.5
Axix Bluechip Fund 30,733 54.59 7.3 11.6 13.7
Kotak Bluechip 6,405 499.28 13.1 18.4 16.4
Fund

Large Cap Fund

20 18.2 18.4
16.4
15.5
13.7
15 12.7 13.1
11.6

10 7.3

0
1Yr 3Yr 5Yr
Return (%)
SBI Bluechip Fund Axis Bluechip Fund Kotak Bluechip Fund

Interpretation :
The graph are represent that the highest return given by the kotak Bluechip Fund or the last five years is the
SBI Bluechip Fund return 15.5%. The SBI having the large no. of amount of AUM and the SBI Bluechip
Fund last 3Yrs are increase the return but last five year return low. Kotak Bluechip Fund having a current
highest NAV price or compare to other AMC Bluechip schemes. The investors can think about the SBI
Bluechip fund or Kotak Bluechip Fund.

58
 Midcap Fund

Fund Name AUM (IN Rs. NAV RETURN (%)

Cr.)
1Yr 3Yr 5Yr
SBI Magnum 13,202 26.7 26.7 30.3 23.0
Midcap Fund
Axis Midcap Fund 33,699 82.2 20.5 21.2 20.5
Kotak Emerging 33,700 96.42 24.84 27.99 23.24
Equity Fund

35

30

25

20

15 30.3
26.7 27.99
24.84 23 23.24
10 20.5 21.2 20.5

0
1Yr 3Yr 5Yr
RETURN(%)
SBI Magnum Midcap Fund Axis Midcap Fund Kotak Emerging Equity Fund

59
 Flexicap Fund

Fund Name AUM (IN Rs. NAV RETURN (%)

Cr.)
1Yr 2Yr 3Yr
SBI Flexicap Fund 17,570 98.12 14.2 18.5 15.5
Axis Flexicap Fund 10,605 21.96 10.7 13.8 14.8
Kotak Flexicap Fund 39,269 70.64 13.8 17.9 15.1

RETURN (%) 1Yr RETURN (%) 3Yr RETURN (%) 5Yr

18.5

17.9
15.5

15.1
14.8
14.2

13.8

13.8
10.7

SBI F LE XI CA P F UN D AX IS F LE XI C A P F UN D KOTA K F LEX IC AP FU N D

60
 CHAPTER NO – 5
CONCLUSION & FINDING

Conclusion

In the intricate tapestry of India's financial landscape, the mutual fund industry stands as a vibrant thread
of innovation and opportunity. Over the years, this sector has not only witnessed substantial growth but
has also become a beacon of financial inclusion. The industry's expansion is a testament to the changing
mindset of Indian investors, from traditional saving methods to more dynamic and diverse investment
avenues.

The advent of Systematic Investment Plans (SIPs) has been a game-changer, breaking down the barriers
of entry for the common investor. This systematic approach, coupled with a diverse array of fund
offerings, has empowered individuals from all walks of life to participate in the nation's economic
growth. The industry has successfully democratized wealth creation, allowing even those with modest
incomes to dream of a financially secure future.

Regulatory bodies, particularly the Securities and Exchange Board of India (SEBI), have played a
pivotal role in shaping the industry's integrity. Their stringent regulations have not only protected
investors but have also fostered an environment of trust. Investors, both seasoned and novice, now have
confidence in the transparency and accountability of mutual fund operations.

Moreover, the industry's embrace of digital technology has bridged the gap between investors and
financial experts. Online platforms and mobile applications have simplified the investment process,
providing real- time data, insights, and transactional capabilities at the fingertips of investors. This
technological leap has made mutual funds more accessible and understandable, especially for the
younger, tech-savvy generation.

61
 Findings

• There is a wide range of products available in mutual in the Indian market.

• The aggressive market that can tap any individual is financial services. Investors have their risk
appetites and believe in the market they are entering in.
• They have been identified as one of the important factors pushing up the market prices of securities.
• From the Respondents themselves it is found that most of the people are investing in mutual funds,
they consider that it is the best investment avenue in the market available.
• It is found that most investors invest in the Systematic Investment Plan Method

62
CHAPTER NO –7
BIBLIOGRAPHY

63
 References-
• www.valueresearchonline.com/funds/17514/sbi-flexicap-fund-direct-plan/
• www.valueresearchonline.com/funds/16198/sbi-bluechip-fund-direct-plan/
• www.valueresearchonline.com/funds/16235/sbi-magnum-midcap-fund-direct- plan/
• www.sbimf.com/about-us
• groww.in/mutual-funds/sbi-magnum-midcap-fund-direct-growth
• sbi.co.in/web/corporate-governance/sbi-organizational-structure
• Legal aspects in financial market

64
65