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A study on selection behavior of investor in mutual fund with reference to junagadh city

This document outlines the structure and content of a study on the selection behavior of investors in mutual funds in Junagadh City, India. It includes an introduction to mutual funds, an overview of world and Indian markets, literature review on previous related studies both in India and abroad, and outlines the research methodology including sampling, data collection, and questionnaire. The literature review summarizes 9 previous studies on topics like factors influencing mutual fund selection, performance and its impact on investor behavior.

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“ A STUDY OF SELECTION BEHAVIOR OF INVESTORS IN MUTUAL FUND WITH REFERENCE TO JUNAGADH CITY” AS A PART OF SEM-4 )
FLOW OF PRESENTATION  Introduction of mutual fund  Overview of world market  Overview of Indian market  Growth of the mutual fund sector in India  Major companies in mutual fund  Literature review  Background of the study  Problem statement  Research objective  Research methodology  Sampling design  Data collection method  Questionnaire  Bibliography
INTRODUCTION OF MUTUAL FUND  Meaning  Mutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document.  A mutual fund is a type of professionally managed collective investment scheme that pools money from many investors to purchase securities.
 Units of Mutual Funds Units represent the extent of an investor’s share in the assets of the scheme  NPV Net Asset Value is the market value of the securities held by the scheme
TYPES OF MUTUAL FUND
OVERVIEW OF WORLD MARKET  With $15 trillion in assets, the U.S. mutual fund industry remained the largest in the world at year- end 2013.  World funds invest mainly in developed nations (Canada, Europe, Japan, and the United States). Ten percent of their investment is in Asia and Latin America  Investments in Asian and Latin American mutual funds are volatile.
OVERVIEW OF INDIAN MARKET  The first Indian mutual fund was set up in 1963  Until 1987, UTI enjoyed a monopoly in the Indian mutual fund market  In 1987, the Government of India permitted public sector banks and the Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) to enter the mutual fund industry
CONTINUE…  The State Bank of India's SBI Mutual Fund was the first such mutual fund to be established in 1987  At the end of January 2003, there were 33 mutual funds  with assets totaling Rs. 1, 21,805 crores. The UTI still led the pack with Rs. 44,541 crores. worth of assets  As of 30 June 2013, the Indian mutual fund industry manages assets worth approximately Rs.847,000 crores
GROWTH OF THE SECTORS o The increase in the size of the Indian mutual fund industry as a percentage of nominal GDP has been substantial. o India's mutual fund industry is eight per cent of GDP o AUM distribution in India shows a heavy skew (approximately 68 per cent) in favour of income- and debt-oriented schemes, which are short-term investments. Growth and equity schemes account for 28 per cent of total AUM, and balanced and exchange traded funds, two per cent each. o
COMPANIES IN INDIA
Axis Asset Management Company Ltd. 2% Birla Sun Life Asset Management Company Ltd 9% DSP BlackRock Investment Managers Pvt. Ltd. 4% Franklin Templeton Asset Management (India) Pvt Ltd. 5% HDFC Asset Management Company Ltd 13% ICICI Prudential Asset Management Company Ltd 10% IDFC Asset Management Company Ltd 5% Kotak Mahindra Asset Management Company Ltd. 4% Reliance mf schemes 12% Sbi mf schemes 7% UTI 9% Other 20% Major companies with market share
LITERATURE REVIEW  Divided Into two parts:  Foreign Studies  Indian studies
1) THE BEHAVIOR OF MUTUAL FUND INVESTORS, BRAD M. BARBER Objective to find out the purchase and selling behavior of mutual fund investors Sample size : 30,000 households Three main result buy funds with strong past performance 40 percent of fund sales occur in funds ranked in the top quintile of past annual returns investors are sensitive to the form in which fund expenses are charged; though investors are less likely to buy funds with high transaction fees Foreign studies:
2) WHAT DRIVES INVESTMENTS INTO MUTUAL FUNDS? NICOLAS SCHMIDT  Objective to identify key determinants of the willingness and intention to invest in mutual funds  Data collection  Questionnaire  additionally used focus group discussion,  expert interviews  They find that the three key components ,  subjective norm (SN),  attitude (ATT) and  perceived behavioral control (PBC), are correlated and all show positive and significant influence on both(urban and rural investors), the general willingness and the intention to purchase mutual funds
3) FACTORS VALUED BY INVESTORS WHILE INVESTING IN MUTUAL FUNDS-A BEHAVIORAL CONTEXT, DR.HAYAT M.AWAN AND SHANZA ARSHAD  Purpose is find what factors individuals prefer while investing in mutual funds and what type of behavior  exploratory research  Data collected from five major cities of Pakistan  Sample size:150  results shows that:  Investor education level and occupation, income level has no effect  While age group has an association with fund related qualities
1) A STUDY OF FUND SELECTION BEHAVIOR OF INDIVIDUAL INVESTORS TOWARDS MUTUAL FUNDS , MS. KAVITHA RANGANATHAN  To identify fund selection behavior of individual investors towards mutual funds with reference to Mumbai city  Data Collected through questionnaire from the 100 educated individual investors  Results shows that  Savings Objective of the majority of Individual Investors is ‘to provide for Retirement’  Pension and Provident Fund’ are the most popular savings instrument  The popularity of ‘Open- Ended’ scheme  Investors’ need for ‘ Good Return’ is highest among other features  29% of the respondents use Internet facility While 30% of the respondents prefer to telephone for communication Indian studies
2) MUTUAL FUND INVESTOR’S BEHAVIOR AND PERCEPTION IN INDORE CITY, DR. RAVI VYAS  Purpose of this research was to find out mutual fund investor’s behavior and perception  Data collected trough the questionnaire from the 363 individual in Indore city  Results show that:  Prefers safe mode of investment and then the returns comes on second place  Mutual fund has got average in all parameters like safety, liquidity, reliability, tax benefits and high returns  Investor prefers lump sum mode of investment and second preference is given to systematic investment plan (SIP)  Prefers to invest in equity option in mutual funds
3) PERFORMANCE OF MUTUAL FUNDS AND INVESTORS’ BEHAVIOR, SWETA GOEL  To analysis of mutual funds’ performance and behavior of investors towards mutual funds and other investment options  Primary data -Mutual Fund Investors and Non Mutual Fund Investors  Research state that:  Maximum number of investors has been investing in FDs followed by other  Investing in growth schemes followed by income, balanced, sector funds, ELSS, gold ETF and index funds  Management cost charged by the mutual fund companies and less return are the major cause
4) MUTUAL FUNDS: AN INVESTMENT OPTION FROM INVESTORS’ POINT OF VIEW, MR. JAY R. JOSHI  To know investor’s view about the investment preference and Motivational factors  Sample unit: individual investor of Anand – Vidyanagar  sample size:100 investors  They find that:  Gave first rank to the higher & constant return for choosing the various investment  Invest in mutual fund to generate constant return  Diversification of portfolio was the top most motivating factor  Higher liquidity was ranked the next factor that motivating
5) MUTUAL FUND: BEHAVIORAL FINANCE’S PERSPECTIVE, MS. AVANI SHAH AND DR. NARAYAN BASER  Objective of this research paper is to examine and analyze investor’s preferences for fund performance and fund sponsor qualities of mutual funds  primary data : structured questionnaire  sample size : 305  Sampling technique: convenient sampling basis from Ahmedabad city  They find the two demographic variables: Age & Occupation have taken for the study  Occupation is a variable that affects investors’ preference for Fund Sponsor qualities  Where as age does not play any role in building the investor’s preference for Fund Sponsor qualities
6) A STUDY OF CONSUMER BEHAVIOR TOWARDS MUTUAL FUNDS WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL MUTUAL FUNDS, VIJAYAWADA, R PADMAJA  To identify consumer behavior towards mutual funds with special reference to ICICI Prudential Mutual Funds Limited  structured questionnaire  Convenience sampling  Vijayawada City  Results show that:  76 respondents aware  68% of the respondents invest in mutual fund  Prefer investment in equity fund  Maximum investment is made in 30-40 age group  Preferred to invest in three year period mutual funds  Wealth maximization benefit is most preferred
7) MUTUAL FUND VS. LIFE INSURANCE: BEHAVIORAL ANALYSIS OF RETAIL INVESTORS, DR. BHAGABAN DAS, MS. SANGEETA MOHANTY, NIKHIL CHANDRA SHIL  To understand the retail investors’ behavior towards different savings avenues on the basis of their age, gender, education and profession  100 interviews were made from two metros of Orissa  Simple random sampling  Research conclude that:  Male investors are more as compared to females  Investing with the objective of capital growth followed by Tax saving (28%) and only 17% are investing for the Retirement plan  like to invest in life insurance followed by mutual fund  63% of the investors like to invest in open-ended Mutual fund schemes
8) A COMPARATIVE ANALYSIS OF INVESTORS BUYING BEHAVIOR OF URBAN RURAL FOR FINANCIAL ASSETS SPECIFICALLY FOCUSED ON MUTUAL FUND, DHIMEN JANI AND DR. RAJEEV JAIN  This paper examines  The Investor buying behavior of urban and rural for financial assets specifically focused on mutual fund  also assesses the impact of various demographic factors  200 respondents (100 urban and 100 rural)  Primary data :structured questionnaire  The study revealed that Age Gender, Occupation, Educational Qualification, Income etc. have significance impact on the buying behavioral  Both investor gives first priority to financial planner and second to risk and return profile, third past performance, forth tax consideration and fifth to the brand
9) A STUDY ON INVESTOR’S PERCEPTION TOWARDS EQUITY/TAX SAVING MUTUAL FUNDS, BHUVANESWARI C.  Objective of finding out the investor’s perception towards Equity/Tax saving Mutual Funds, identifying the major factors that contribute towards investor’s perception  Descriptive type of research design  Primary data-Questionnaire  sample : 120  Research concluded that:  Grievance Handling Methodology adopted by the organization is independent to that of Age of the respondents  there is a significant difference between the opinions of the respondents towards the service facilities provided  opinion of the respondents towards the Rate of Return is independent to that of the Experience
11) INDIAN MUTUAL FUND MARKET: RETAIL INVESTOR’S INVESTMENT INSIGHT, MS. POOJA CHATURVEDI SHARMA AND DR. ANOOP PANDEY  Discusses the introduction, evolution of mutual fund market along with the range of different expenses, various parties involved in this market segment  Study reveals that still there is a big part of investors who are still confused about the mutual funds  Demographic factors are concerned, gender, income, age, and level of education have significantly influenced the investor’s attitude towards mutual funds  Majority investors have a positive approach towards investing in mutual funds, but due lack of conceptual knowledge, expertise they stay away
12) A STUDY ON THE FACTORS INFLUENCING THE SELECTION OF MUTUAL FUND COMPANY, R VIJAYALAKSHMI AND R JAYASATHYA  Main focus of this study is, on the factors influencing the respondents on their choice of Mutual Fund Company  Sample size: 150  Convenience sampling  Instrument: questionnaire  Study reveal that:  Most important factors consider before investing in the mutual fund are objective of the scheme, past performance of a research team, services provided by the company  The prime priority is attached to the past performance of the other schemes, next to the services provided by the company
13) FACTORS AFFECTING PERCEPTION OF INVESTORS TOWARDS MUTUAL FUNDS,DR. NEHA PARASHAR  To identify variations in factors affecting perception of investors while investing in Mutual funds  Study includes three States viz. Rajasthan, Gujarat and Madhya Pradesh  Stratified convenience sampling method  Sample size: 300 respondents  Research reveal that:  The most important is monetary factor and Investors expectation and least is Risk and return  Investors consider Entry/ Exit fees charged by the Mutual Fund Companies as an important monetary factor while investing  Liquidity is the main objective for investing
14) INVESTOR’S PREFERENCE TOWARDS MUTUAL FUND IN COMPARISON TO OTHER INVESTMENT AVENUES, GAURAV AGRAWAL AND DR. MINI JAIN  To find out the most preferred Investment Avenue of the investors of Mathura and to analyze the investor’s preference towards investment in mutual funds  300 investors for the data collection  Used Structured Questionnaire as Research Instrument  It is conclude that:  80% investors are aware about Mutual Funds  On the basis of Return, Real Estate & Mutual Funds are the most preferred avenues
15) INVESTORS ATTITUDE TOWARDS MUTUAL FUND (SPECIAL REFERENCE TO CHIKKAMAGALORE DISTRICT, KARNATAKA STATE, INDIA), SUBRAMANYA P R ANDT P RENUKA MURTHY  To identify the investor’s attitude on mutual funds and to analyze the factors affecting investor’s attitude towards mutual fund  Random sampling  Sample size: 150 respondents  They conclude that:  Select the Mutual fund for safety purpose  Investors collect the information from expert advisors then only invest the money  Investors select the income, growth and equity fund for their investment
16) INVESTMENT PERCEPTION AND SELECTION BEHAVIOUR TOWARDS MUTUAL FUND, DR. RAJWANTI SHARMA  To study the meaning, organization, working and growth of mutual funds in India, to depict the present &future potential of mutual funds and to find out the various factors affecting the behavior of selection towards mutual funds  It is concluded from the research that there are many reason for not investing in the mutual funds.
17) AN EMPIRICAL STUDY ON FACTORS INFLUENCING THE MUTUAL FUND/SCHEME SELECTION BY RETAIL INVESTORS, MS. T.R. RAJESWARI AND PROF. V.E. RAMA MOORTHY  To understand the savings avenue preference among MF investors, to identify the features the investors look for in Mutual Fund products, to identify the scheme preference of investors and to identify the factors that influence the investor’s fund/scheme Selection  350 Mutual Fund Investors  The study reveal that:  Most preferred investment vehicle is Bank Deposits, with MFs ranking 4th  Growth schemes are ranked first, followed by Income Schemes and Balanced Schemes  1st preference is for open-ended schemes  look for safety first in MF products, followed by good returns, Tax Benefits, liquidity and capital appreciation  sources influencing their selection decision are News papers and Magazines, Brokers and Agents, Television, Friends suggestions
18) INDIAN MUTUAL FUND INDUSTRY - TOWARDS 2015, U K SINHA  This paper contains the introduction of mutual fund and the global market of the mutual fund This paper contains  the introduction of mutual fund,  the global market of the mutual fund,  What next for the mutual fund Industry,  Fund of Fund Schemes So it provides the general information for our research
19) INDIAN MUTUAL FUND INDUSTRY,SHASHWAT SHARMA AND SHRIVARDHAN GOENKA  This paper contain :  Introduction of industry  Future Potential of the Indian MF Industry Assessment  Key Upcoming Trends in the Indian Mutual Fund Industry so this paper helps us to prepare introductory part.
OBJECTIVE OF THE STUDY  To assess the savings objectives among individual investors  To identify the preferred savings avenue among individual investors.  To find out the awareness level of investors regarding mutual funds.  To find the type of scheme of mutual fund preferred by investor.  To find out the importance of factors like liquidity, higher return, company reputation and other factors that influence investment decision of mutual fund holder.
RESEARCH METHODOLOGY  Research design : Descriptive research design  Sampling Design  Type of sampling : Convenience sampling  Sampling unit : Investorsof Junagadh city  Sampling Area : Junagadh City  Sample size : 250 Investors
DATA COLLECTION METHOD  Primary Data Collection Method  structured questionnaire  Secondary Data Collection Method  Websites,  Text books,  Various magazines,  published article,  Investment companies’ brochures  Research papers
QUESTIONNAIRE  Gender: A. Male B. Female  Age ( in year) : A. Greater than 60yrs B. 51-60 yrs C. 36-50 yrs D. 19-35 yrs E. 18 yrs & below
 Qualification: A. High School B. Graduate C. Post Graduate D. Professional E. Other  Occupation: A. Government employee B. Private sector employee C. Business D. Agriculture E. Other CONTINUE…
CONTINUE………  Monthly Income: A. Below Rs. 20000 B. 20001 to 30000 C. 30001to 40000 D. 40001 to 50000 E. 50001 to 70000 F. Above 70001  Which is the Investment Avenue preferred by you? (You can tick more than one) A. Fixed deposits B. Insurance C. Mutual fund D. Post office E. Shares F. Real estate G. PPF H. Other
CONTINUE…  Are you investing in mutual fund? A. Yes B. No  Which is the Mutual Fund Scheme Preference by you? A. Open Ended B. Close Ended
Factors extremely imp very Important somewhat important not very important not at all important Retirement purpose Tax Minimization Growth of Capital Marketability Higher income Low risk If other (please specify)  Give your opinion to the following factors while investing in any avenue?
CONTINUE…  Please give your opinion to the following factors of mutual fund Factors Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree Liquidity Higher Return Low Risk Capital Appreciation Professional Management Diversification Benefits
CONTINUE…  What is the Frequency of your investment? A. Once in 15 days B. Once a month C. Once in 3 months D. Once in 6 months E. Once a year F. Other  What is your Preferable Route to Mutual Fund Investment ? A. Reference groups B. Newspapers – General & Business C. Financial Magazines D. Television E. Brokers/ Agents F. E-Mail G. Stores Display H. Other
CONTINUE…  What is your Preferred Mode of Communication? A. Internet facility B. Personally visiting to office C. Telephone D. No preferences. E. Other  Are you Aware about the benefits of Mutual Fund? A. Highly B. Moderate C. Low
CONTINUE..  What are your opinion about the following influencing factors of mutual funds? A. Fund related factors Factors extremel y imp very Importan t somewh at important not very important not at all important Intrinsic Fund Qualities Credibility of Image Flexible Investment Facilities
Factors extremel y imp very Importan t somewh at importan t not very importan t not at all important Intrinsic Fund Qualities Credibility of Image Flexible Investment Facilities B. Sponsor related factors CONTINUE…
CONTINUE… Factors extremel y imp very Importan t somewh at importan t not very importan t not at all important Transparent Disclosure Tangibles/ Fringe benefits C. Investor service related factors
CONTINUE…  Would you invest in Mutual Fund in Future? A. Yes B. No C. Not Sure  Any suggestions
 Websites  https://www.amfiindia.com/new-to-mutual-funds  http://www.investopedia.com/terms/m/mutualfund.asp  www.investmentguruindia.com  http://toostep.com/question/i-am-working-on-a-project-consumer- behaviour-about-mutual-fu  www.ssrn.in  policybazaar.com/sip_investment  Reference book:  Cooper, Donald and schindler, Pamela (2009) business research methods, the McGraw- Hill company limited, new Delhi. BIBLIOGRAPHY
ANALYSIS & INTERPRETATION  Frequency Analysis of gender Gender Frequency Percent Valid Percent Cumulative Percent Valid male 118 78.7 78.7 78.7 female 32 21.3 21.3 100.0 Total 150 100.0 100.0 Interpretation Majority of our respondents are male that are 78.7% compare to it female are 21.3%.
 Frequency Analysis of age Age Frequency Percent Valid Percent Cumulative Percent Valid 51-60 years 16 10.7 10.7 10.7 36-50 years 40 26.7 26.7 37.3 19-35 years 94 62.7 62.7 100.0 Total 150 100.0 100.0 Interpretation Above graph represent the age of the respondents, So majority of respondents are fall in 19 to 35 age group that is 62.7% followed by 36 to 50 age group with 26.7% and 51 to 60 age group with 10.7%.
 Frequency Analysis of Qualification Qualification Frequency Percent Valid Percent Cumulative Percent Valid high school 22 14.7 14.7 14.7 Graduate 83 55.3 55.3 70.0 post graduate 26 17.3 17.3 87.3 professional 13 8.7 8.7 96.0 Others 6 4.0 4.0 100.0 Total 150 100.0 100.0 Interpretation Majority of the our respondents are graduate that are 55.3%, 17.3% are post graduate, 14.7% are completed high schools and 8.7% completed professional course.
 Frequency Analysis of Occupation Occupation Frequenc y Percent Valid Percent Cumulative Percent Valid government employee 15 10.0 10.0 10.0 private sector employee 68 45.3 45.3 55.3 Business 50 33.3 33.3 88.7 Agriculture 1 .7 .7 89.3 Others 16 10.7 10.7 100.0 Total 150 100.0 100.0 Interpretation Majority of the investors are engaged in private sector that are45.3%, 33.3% are engaged in business, 10% are government employee, 7% are agriculture farmer and 10.7% engaged in other sectors.
 Frequency Analysis of monthly income Monthly Income Frequenc y Percent Valid Percent Cumulative Percent Valid Below Rs. 20000 17 11.3 11.3 11.3 Rs. 20001 to 30000 28 18.7 18.7 30.0 Rs. 30001 to 40000 56 37.3 37.3 67.3 Rs. 40001 to 50000 25 16.7 16.7 84.0 Rs. 50001 to 70000 20 13.3 13.3 97.3 above 70001 4 2.7 2.7 100.0 Total 150 100.0 100.0 Interpretation Majority of the respondent are fall in 30001 to 40000rs income class with 37.3%, 18.7% having income between 20001 to 30000, 16.7% having income between 40001 to 50000, 13.3% having income between 50001 to 70000, 11.3% having income below 20000rs., 2.7% having above 70001 income.
 Which Mutual Fund Scheme do you Prefer? preference of mutual fund scheme Frequency Percent Valid Percent Cumulative Percent Valid open ended 119 79.3 79.3 79.3 close ended 5 3.3 3.3 82.7 both 26 17.3 17.3 100.0 Total 150 100.0 100.0 Interpretation Majority of the respondent are prefer to invest in open ended scheme that 79.3%, only 3.3 % investors are prefer to invest in close ended scheme, and 17.3%are prefer to invest in both type of scheme.
 What is the Frequency of your investment 0 20 40 60 80 100 120 140 160 once in 15 days once a month once in 3 months once in 6 months once a year other 15 49 4 13 101 15 135 101 146 137 49 135 yes no A. Once in 15 days B. once a month C. once in 3 months D. once in 6 months E. once a year F. other
 What is your Preferable Route to Mutual Fund Investment? ( you can tick more than one) A, reference group B. newspaper-general & Business C. financial magazines D. Television E. Brokers/Agents F. E-mail G. Stores Display H. Hoardings I. other 0 20 40 60 80 100 120 140 160 yes no
 What is the Level of awareness regarding the benefits of Mutual Fund level of awareness Frequenc y Percent Valid Percent Cumulative Percent Valid not aware 29 19.3 19.3 19.3 Aware 89 59.3 59.3 78.7 aware & expert khowledge 32 21.3 21.3 100.0 Total 150 100.0 100.0 interpretation
Would you continue investing in Mutual Fund in Future continue of investment in future Frequency Percent Valid Percent Cumulativ e Percent Valid Yes 141 94.0 94.0 94.0 No 5 3.3 3.3 97.3 not sure 4 2.7 2.7 100.0 Total 150 100.0 100.0 0 20 40 60 80 100 120 140 160 yes no not sure Series1 Interpretation Majority of the investors are ready to invest in mutual fund in future that are 94%, only 3.3% respondents are not ready to invest in mutual fund and 2.7% are not sure.
 Chi-square analysis Qualification retirement purpose Crosstab Count Retirement purpose Totalnot important nuetral important extremely important Qualification high school 0 1 12 9 22 graduate 2 8 29 44 83 post graduate 2 5 7 12 26 professional 0 7 2 4 13 others 0 0 2 4 6 Total 4 21 52 73 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 28.440a 12 .005 Likelihood Ratio 24.009 12 .020 Linear-by-Linear Association 1.894 1 .169 N of Valid Cases 150 a. 12 cells (60.0%) have expected count less than 5. The minimum expected count is .16.
Interpretation As per chi-square test the answer is 0.03 which is less than 0.05 so H1 is accepted which means there is a relationship between a gender and retirement purpose which may be a purpose of investment
 Qualification * Tax Minimization Crosstab Count Tax Minimization Totalnot important nuetral important extremely important Qualification high school 2 4 3 13 22 graduate 2 12 42 27 83 post graduate 0 4 15 7 26 professional 0 0 4 9 13 others 0 0 4 2 6 Total 4 20 68 58 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 22.472a 12 .033 Likelihood Ratio 25.833 12 .011 Linear-by-Linear Association 1.878 1 .171 N of Valid Cases 150 a. 11 cells (55.0%) have expected count less than 5. The minimum expected count is .16.
Interpretation As per test the answer of chi-square test is 0.033 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and tax minimization which may be a purpose of investment.
 Qualification * Growth of capital Crosstab Count Growth of capital Totalneutral important extremely important Qualification high school 2 14 6 22 graduate 26 36 21 83 post graduate 5 13 8 26 professional 1 6 6 13 others 0 0 6 6 Total 34 69 47 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 22.801a 8 .004 Likelihood Ratio 24.062 8 .002 Linear-by-Linear Association 7.019 1 .008 N of Valid Cases 150 a. 6 cells (40.0%) have expected count less than 5. The minimum expected count is 1.36.
Interpretation: As per test the answer of chi-square test is 0.04 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and growth of capital which may be a purpose of investment.
 Qualification * marketability / liquidity Crosstab Count marketability / liquidity Total not at all important not important neutral important extremely important Qualification high school 0 2 5 7 8 22 Graduate 3 4 19 32 25 83 post graduate 0 1 7 9 9 26 Professional 0 0 0 2 11 13 Others 0 1 1 2 2 6 Total 3 8 32 52 55 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 19.602a 16 .239 Likelihood Ratio 21.757 16 .151 Linear-by-Linear Association 3.136 1 .077 N of Valid Cases 150 a. 17 cells (68.0%) have expected count less than 5. The minimum expected count is .12.
Interpretation: As per test the answer of chi-square test is 0.239 which is higher than the 0.05 so H0 is accepted it means that there is no association between the qualification and marketability/liquidity which may be a purpose of investment
 Qualification * Higher Income Crosstab Count Higher Income Totalnot important neutral important extremely important Qualification high school 0 2 12 8 22 Graduate 0 14 35 34 83 post graduate 2 2 7 15 26 Professional 0 1 2 10 13 Others 0 2 4 0 6 Total 2 21 60 67 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 25.814a 12 .011 Likelihood Ratio 25.612 12 .012 Linear-by-Linear Association .031 1 .860 N of Valid Cases 150 a. 11 cells (55.0%) have expected count less than 5. The minimum expected count is .08.
Interpretation: As per test the answer of chi-square test is 0.011 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and higher income which may be a purpose of investment.
 Qualification * Low Risk Crosstab Count Low Risk Totalnot at all important not important neutral important extremely important Qualification high school 0 2 8 5 7 22 graduate 3 12 19 14 35 83 post graduate 0 4 11 8 3 26 professional 0 0 9 2 2 13 others 0 1 1 4 0 6 Total 3 19 48 33 47 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 30.852a 16 .014 Likelihood Ratio 33.407 16 .007 Linear-by-Linear Association 2.045 1 .153 N of Valid Cases 150 a. 16 cells (64.0%) have expected count less than 5. The minimum expected count is .12.
Interpretation As per test the answer of chi-square test is 0.014 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and low risk which may be a purpose of investment.
 Monthly Income * Retirement purpose Crosstab Count Retirement purpose Totalnot important nuetral important extremely important Monthly Income Below Rs. 20000 4 0 12 1 17 Rs. 20001 to 30000 0 9 10 9 28 Rs. 30001 to 40000 0 8 19 29 56 Rs. 40001 to 50000 0 0 3 22 25 Rs. 50001 to 70000 0 4 7 9 20 above 70001 0 0 1 3 4 Total 4 21 52 73 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 71.644a 15 .000 Likelihood Ratio 64.673 15 .000 Linear-by-Linear Association 16.684 1 .000 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .11.
Interpretation: As per test the answer of chi-square test is 0.000 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and retirement purpose which may be a purpose of investment.
 Monthly Income * Tax Minimization Crosstab Count Tax Minimization Totalnot important nuetral important extremely important Monthly Income Below Rs. 20000 2 5 5 5 17 Rs. 20001 to 30000 0 3 14 11 28 Rs. 30001 to 40000 0 8 21 27 56 Rs. 40001 to 50000 0 2 18 5 25 Rs. 50001 to 70000 2 2 9 7 20 above 70001 0 0 1 3 4 Total 4 20 68 58 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 28.553a 15 .018 Likelihood Ratio 27.032 15 .028 Linear-by-Linear Association .870 1 .351 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .11.
Interpretation: As per test the answer of chi-square test is 0.018 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and tax minimization
 Monthly Income * Growth of capital Crosstab Count Growth of capital Totalneutral important extremely important Monthly Income Below Rs. 20000 5 8 4 17 Rs. 20001 to 30000 6 12 10 28 Rs. 30001 to 40000 7 31 18 56 Rs. 40001 to 50000 8 6 11 25 Rs. 50001 to 70000 8 8 4 20 above 70001 0 4 0 4 Total 34 69 47 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 17.752a 10 .059 Likelihood Ratio 19.640 10 .033 Linear-by-Linear Association .546 1 .460 N of Valid Cases 150 a. 5 cells (27.8%) have expected count less than 5. The minimum expected count is .91.
Interpretation As per test the answer of chi-square test is 0.059 which is higher than the 0.05 so H0 is accepted it means that there is no association between the monthly income and growth of capital which may be a purpose of investment
 Monthly Income * marketability / liquidity Crosstab Count marketability / liquidity Total not at all important not important neutral important extremely important Monthly Income Below Rs. 20000 0 0 9 2 6 17 Rs. 20001 to 30000 0 0 5 9 14 28 Rs. 30001 to 40000 3 3 3 23 24 56 Rs. 40001 to 50000 0 1 12 11 1 25 Rs. 50001 to 70000 0 2 2 7 9 20 above 70001 0 2 1 0 1 4 Total 3 8 32 52 55 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 62.738a 20 .000 Likelihood Ratio 61.567 20 .000 Linear-by-Linear Association 2.060 1 .151 N of Valid Cases 150 a. 17 cells (56.7%) have expected count less than 5. The minimum expected count is .08.
Interpretation As per test the answer of chi-square test is 0.000 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and marketability /liquidity which may be a purpose of investment.
 Monthly Income * Higher Income Crosstab Count Higher Income Totalnot important neutral important extremely important Monthly Income Below Rs. 20000 1 1 15 0 17 Rs. 20001 to 30000 0 4 12 12 28 Rs. 30001 to 40000 1 7 20 28 56 Rs. 40001 to 50000 0 4 6 15 25 Rs. 50001 to 70000 0 5 5 10 20 above 70001 0 0 2 2 4 Total 2 21 60 67 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 29.470a 15 .014 Likelihood Ratio 35.064 15 .002 Linear-by-Linear Association 3.249 1 .071 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .05.
Interpretation As per test the answer of chi-square test is 0.014 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and higher income which may be a purpose of investment.
 Monthly Income * Low Risk Crosstab Count Low Risk Totalnot at all important not important neutral important extremely important Monthly Income Below Rs. 20000 0 4 1 7 5 17 Rs. 20001 to 30000 0 3 8 5 12 28 Rs. 30001 to 40000 3 5 19 13 16 56 Rs. 40001 to 50000 0 4 11 5 5 25 Rs. 50001 to 70000 0 0 9 3 8 20 above 70001 0 3 0 0 1 4 Total 3 19 48 33 47 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 36.964a 20 .012 Likelihood Ratio 36.802 20 .012 Linear-by-Linear Association .909 1 .340 N of Valid Cases 150 a. 16 cells (53.3%) have expected count less than 5. The minimum expected count is .08.

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A study on selection behavior of investor in mutual fund with reference to junagadh city

  • 1.
    “ A STUDYOF SELECTION BEHAVIOR OF INVESTORS IN MUTUAL FUND WITH REFERENCE TO JUNAGADH CITY” AS A PART OF SEM-4 )
  • 2.
    FLOW OF PRESENTATION Introduction of mutual fund  Overview of world market  Overview of Indian market  Growth of the mutual fund sector in India  Major companies in mutual fund  Literature review  Background of the study  Problem statement  Research objective  Research methodology  Sampling design  Data collection method  Questionnaire  Bibliography
  • 3.
    INTRODUCTION OF MUTUALFUND  Meaning  Mutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document.  A mutual fund is a type of professionally managed collective investment scheme that pools money from many investors to purchase securities.
  • 4.
     Units ofMutual Funds Units represent the extent of an investor’s share in the assets of the scheme  NPV Net Asset Value is the market value of the securities held by the scheme
  • 5.
  • 6.
    OVERVIEW OF WORLDMARKET  With $15 trillion in assets, the U.S. mutual fund industry remained the largest in the world at year- end 2013.  World funds invest mainly in developed nations (Canada, Europe, Japan, and the United States). Ten percent of their investment is in Asia and Latin America  Investments in Asian and Latin American mutual funds are volatile.
  • 7.
    OVERVIEW OF INDIANMARKET  The first Indian mutual fund was set up in 1963  Until 1987, UTI enjoyed a monopoly in the Indian mutual fund market  In 1987, the Government of India permitted public sector banks and the Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) to enter the mutual fund industry
  • 8.
    CONTINUE…  The StateBank of India's SBI Mutual Fund was the first such mutual fund to be established in 1987  At the end of January 2003, there were 33 mutual funds  with assets totaling Rs. 1, 21,805 crores. The UTI still led the pack with Rs. 44,541 crores. worth of assets  As of 30 June 2013, the Indian mutual fund industry manages assets worth approximately Rs.847,000 crores
  • 9.
    GROWTH OF THESECTORS o The increase in the size of the Indian mutual fund industry as a percentage of nominal GDP has been substantial. o India's mutual fund industry is eight per cent of GDP o AUM distribution in India shows a heavy skew (approximately 68 per cent) in favour of income- and debt-oriented schemes, which are short-term investments. Growth and equity schemes account for 28 per cent of total AUM, and balanced and exchange traded funds, two per cent each. o
  • 10.
  • 11.
    Axis Asset Management CompanyLtd. 2% Birla Sun Life Asset Management Company Ltd 9% DSP BlackRock Investment Managers Pvt. Ltd. 4% Franklin Templeton Asset Management (India) Pvt Ltd. 5% HDFC Asset Management Company Ltd 13% ICICI Prudential Asset Management Company Ltd 10% IDFC Asset Management Company Ltd 5% Kotak Mahindra Asset Management Company Ltd. 4% Reliance mf schemes 12% Sbi mf schemes 7% UTI 9% Other 20% Major companies with market share
  • 12.
    LITERATURE REVIEW  DividedInto two parts:  Foreign Studies  Indian studies
  • 13.
    1) THE BEHAVIOROF MUTUAL FUND INVESTORS, BRAD M. BARBER Objective to find out the purchase and selling behavior of mutual fund investors Sample size : 30,000 households Three main result buy funds with strong past performance 40 percent of fund sales occur in funds ranked in the top quintile of past annual returns investors are sensitive to the form in which fund expenses are charged; though investors are less likely to buy funds with high transaction fees Foreign studies:
  • 14.
    2) WHAT DRIVESINVESTMENTS INTO MUTUAL FUNDS? NICOLAS SCHMIDT  Objective to identify key determinants of the willingness and intention to invest in mutual funds  Data collection  Questionnaire  additionally used focus group discussion,  expert interviews  They find that the three key components ,  subjective norm (SN),  attitude (ATT) and  perceived behavioral control (PBC), are correlated and all show positive and significant influence on both(urban and rural investors), the general willingness and the intention to purchase mutual funds
  • 15.
    3) FACTORS VALUEDBY INVESTORS WHILE INVESTING IN MUTUAL FUNDS-A BEHAVIORAL CONTEXT, DR.HAYAT M.AWAN AND SHANZA ARSHAD  Purpose is find what factors individuals prefer while investing in mutual funds and what type of behavior  exploratory research  Data collected from five major cities of Pakistan  Sample size:150  results shows that:  Investor education level and occupation, income level has no effect  While age group has an association with fund related qualities
  • 16.
    1) A STUDYOF FUND SELECTION BEHAVIOR OF INDIVIDUAL INVESTORS TOWARDS MUTUAL FUNDS , MS. KAVITHA RANGANATHAN  To identify fund selection behavior of individual investors towards mutual funds with reference to Mumbai city  Data Collected through questionnaire from the 100 educated individual investors  Results shows that  Savings Objective of the majority of Individual Investors is ‘to provide for Retirement’  Pension and Provident Fund’ are the most popular savings instrument  The popularity of ‘Open- Ended’ scheme  Investors’ need for ‘ Good Return’ is highest among other features  29% of the respondents use Internet facility While 30% of the respondents prefer to telephone for communication Indian studies
  • 17.
    2) MUTUAL FUNDINVESTOR’S BEHAVIOR AND PERCEPTION IN INDORE CITY, DR. RAVI VYAS  Purpose of this research was to find out mutual fund investor’s behavior and perception  Data collected trough the questionnaire from the 363 individual in Indore city  Results show that:  Prefers safe mode of investment and then the returns comes on second place  Mutual fund has got average in all parameters like safety, liquidity, reliability, tax benefits and high returns  Investor prefers lump sum mode of investment and second preference is given to systematic investment plan (SIP)  Prefers to invest in equity option in mutual funds
  • 18.
    3) PERFORMANCE OFMUTUAL FUNDS AND INVESTORS’ BEHAVIOR, SWETA GOEL  To analysis of mutual funds’ performance and behavior of investors towards mutual funds and other investment options  Primary data -Mutual Fund Investors and Non Mutual Fund Investors  Research state that:  Maximum number of investors has been investing in FDs followed by other  Investing in growth schemes followed by income, balanced, sector funds, ELSS, gold ETF and index funds  Management cost charged by the mutual fund companies and less return are the major cause
  • 19.
    4) MUTUAL FUNDS:AN INVESTMENT OPTION FROM INVESTORS’ POINT OF VIEW, MR. JAY R. JOSHI  To know investor’s view about the investment preference and Motivational factors  Sample unit: individual investor of Anand – Vidyanagar  sample size:100 investors  They find that:  Gave first rank to the higher & constant return for choosing the various investment  Invest in mutual fund to generate constant return  Diversification of portfolio was the top most motivating factor  Higher liquidity was ranked the next factor that motivating
  • 20.
    5) MUTUAL FUND:BEHAVIORAL FINANCE’S PERSPECTIVE, MS. AVANI SHAH AND DR. NARAYAN BASER  Objective of this research paper is to examine and analyze investor’s preferences for fund performance and fund sponsor qualities of mutual funds  primary data : structured questionnaire  sample size : 305  Sampling technique: convenient sampling basis from Ahmedabad city  They find the two demographic variables: Age & Occupation have taken for the study  Occupation is a variable that affects investors’ preference for Fund Sponsor qualities  Where as age does not play any role in building the investor’s preference for Fund Sponsor qualities
  • 21.
    6) A STUDYOF CONSUMER BEHAVIOR TOWARDS MUTUAL FUNDS WITH SPECIAL REFERENCE TO ICICI PRUDENTIAL MUTUAL FUNDS, VIJAYAWADA, R PADMAJA  To identify consumer behavior towards mutual funds with special reference to ICICI Prudential Mutual Funds Limited  structured questionnaire  Convenience sampling  Vijayawada City  Results show that:  76 respondents aware  68% of the respondents invest in mutual fund  Prefer investment in equity fund  Maximum investment is made in 30-40 age group  Preferred to invest in three year period mutual funds  Wealth maximization benefit is most preferred
  • 22.
    7) MUTUAL FUNDVS. LIFE INSURANCE: BEHAVIORAL ANALYSIS OF RETAIL INVESTORS, DR. BHAGABAN DAS, MS. SANGEETA MOHANTY, NIKHIL CHANDRA SHIL  To understand the retail investors’ behavior towards different savings avenues on the basis of their age, gender, education and profession  100 interviews were made from two metros of Orissa  Simple random sampling  Research conclude that:  Male investors are more as compared to females  Investing with the objective of capital growth followed by Tax saving (28%) and only 17% are investing for the Retirement plan  like to invest in life insurance followed by mutual fund  63% of the investors like to invest in open-ended Mutual fund schemes
  • 23.
    8) A COMPARATIVEANALYSIS OF INVESTORS BUYING BEHAVIOR OF URBAN RURAL FOR FINANCIAL ASSETS SPECIFICALLY FOCUSED ON MUTUAL FUND, DHIMEN JANI AND DR. RAJEEV JAIN  This paper examines  The Investor buying behavior of urban and rural for financial assets specifically focused on mutual fund  also assesses the impact of various demographic factors  200 respondents (100 urban and 100 rural)  Primary data :structured questionnaire  The study revealed that Age Gender, Occupation, Educational Qualification, Income etc. have significance impact on the buying behavioral  Both investor gives first priority to financial planner and second to risk and return profile, third past performance, forth tax consideration and fifth to the brand
  • 24.
    9) A STUDYON INVESTOR’S PERCEPTION TOWARDS EQUITY/TAX SAVING MUTUAL FUNDS, BHUVANESWARI C.  Objective of finding out the investor’s perception towards Equity/Tax saving Mutual Funds, identifying the major factors that contribute towards investor’s perception  Descriptive type of research design  Primary data-Questionnaire  sample : 120  Research concluded that:  Grievance Handling Methodology adopted by the organization is independent to that of Age of the respondents  there is a significant difference between the opinions of the respondents towards the service facilities provided  opinion of the respondents towards the Rate of Return is independent to that of the Experience
  • 25.
    11) INDIAN MUTUALFUND MARKET: RETAIL INVESTOR’S INVESTMENT INSIGHT, MS. POOJA CHATURVEDI SHARMA AND DR. ANOOP PANDEY  Discusses the introduction, evolution of mutual fund market along with the range of different expenses, various parties involved in this market segment  Study reveals that still there is a big part of investors who are still confused about the mutual funds  Demographic factors are concerned, gender, income, age, and level of education have significantly influenced the investor’s attitude towards mutual funds  Majority investors have a positive approach towards investing in mutual funds, but due lack of conceptual knowledge, expertise they stay away
  • 26.
    12) A STUDYON THE FACTORS INFLUENCING THE SELECTION OF MUTUAL FUND COMPANY, R VIJAYALAKSHMI AND R JAYASATHYA  Main focus of this study is, on the factors influencing the respondents on their choice of Mutual Fund Company  Sample size: 150  Convenience sampling  Instrument: questionnaire  Study reveal that:  Most important factors consider before investing in the mutual fund are objective of the scheme, past performance of a research team, services provided by the company  The prime priority is attached to the past performance of the other schemes, next to the services provided by the company
  • 27.
    13) FACTORS AFFECTINGPERCEPTION OF INVESTORS TOWARDS MUTUAL FUNDS,DR. NEHA PARASHAR  To identify variations in factors affecting perception of investors while investing in Mutual funds  Study includes three States viz. Rajasthan, Gujarat and Madhya Pradesh  Stratified convenience sampling method  Sample size: 300 respondents  Research reveal that:  The most important is monetary factor and Investors expectation and least is Risk and return  Investors consider Entry/ Exit fees charged by the Mutual Fund Companies as an important monetary factor while investing  Liquidity is the main objective for investing
  • 28.
    14) INVESTOR’S PREFERENCETOWARDS MUTUAL FUND IN COMPARISON TO OTHER INVESTMENT AVENUES, GAURAV AGRAWAL AND DR. MINI JAIN  To find out the most preferred Investment Avenue of the investors of Mathura and to analyze the investor’s preference towards investment in mutual funds  300 investors for the data collection  Used Structured Questionnaire as Research Instrument  It is conclude that:  80% investors are aware about Mutual Funds  On the basis of Return, Real Estate & Mutual Funds are the most preferred avenues
  • 29.
    15) INVESTORS ATTITUDETOWARDS MUTUAL FUND (SPECIAL REFERENCE TO CHIKKAMAGALORE DISTRICT, KARNATAKA STATE, INDIA), SUBRAMANYA P R ANDT P RENUKA MURTHY  To identify the investor’s attitude on mutual funds and to analyze the factors affecting investor’s attitude towards mutual fund  Random sampling  Sample size: 150 respondents  They conclude that:  Select the Mutual fund for safety purpose  Investors collect the information from expert advisors then only invest the money  Investors select the income, growth and equity fund for their investment
  • 30.
    16) INVESTMENT PERCEPTIONAND SELECTION BEHAVIOUR TOWARDS MUTUAL FUND, DR. RAJWANTI SHARMA  To study the meaning, organization, working and growth of mutual funds in India, to depict the present &future potential of mutual funds and to find out the various factors affecting the behavior of selection towards mutual funds  It is concluded from the research that there are many reason for not investing in the mutual funds.
  • 31.
    17) AN EMPIRICALSTUDY ON FACTORS INFLUENCING THE MUTUAL FUND/SCHEME SELECTION BY RETAIL INVESTORS, MS. T.R. RAJESWARI AND PROF. V.E. RAMA MOORTHY  To understand the savings avenue preference among MF investors, to identify the features the investors look for in Mutual Fund products, to identify the scheme preference of investors and to identify the factors that influence the investor’s fund/scheme Selection  350 Mutual Fund Investors  The study reveal that:  Most preferred investment vehicle is Bank Deposits, with MFs ranking 4th  Growth schemes are ranked first, followed by Income Schemes and Balanced Schemes  1st preference is for open-ended schemes  look for safety first in MF products, followed by good returns, Tax Benefits, liquidity and capital appreciation  sources influencing their selection decision are News papers and Magazines, Brokers and Agents, Television, Friends suggestions
  • 32.
    18) INDIAN MUTUALFUND INDUSTRY - TOWARDS 2015, U K SINHA  This paper contains the introduction of mutual fund and the global market of the mutual fund This paper contains  the introduction of mutual fund,  the global market of the mutual fund,  What next for the mutual fund Industry,  Fund of Fund Schemes So it provides the general information for our research
  • 33.
    19) INDIAN MUTUALFUND INDUSTRY,SHASHWAT SHARMA AND SHRIVARDHAN GOENKA  This paper contain :  Introduction of industry  Future Potential of the Indian MF Industry Assessment  Key Upcoming Trends in the Indian Mutual Fund Industry so this paper helps us to prepare introductory part.
  • 34.
    OBJECTIVE OF THESTUDY  To assess the savings objectives among individual investors  To identify the preferred savings avenue among individual investors.  To find out the awareness level of investors regarding mutual funds.  To find the type of scheme of mutual fund preferred by investor.  To find out the importance of factors like liquidity, higher return, company reputation and other factors that influence investment decision of mutual fund holder.
  • 35.
    RESEARCH METHODOLOGY  Researchdesign : Descriptive research design  Sampling Design  Type of sampling : Convenience sampling  Sampling unit : Investorsof Junagadh city  Sampling Area : Junagadh City  Sample size : 250 Investors
  • 36.
    DATA COLLECTION METHOD Primary Data Collection Method  structured questionnaire  Secondary Data Collection Method  Websites,  Text books,  Various magazines,  published article,  Investment companies’ brochures  Research papers
  • 37.
    QUESTIONNAIRE  Gender: A. Male B.Female  Age ( in year) : A. Greater than 60yrs B. 51-60 yrs C. 36-50 yrs D. 19-35 yrs E. 18 yrs & below
  • 38.
     Qualification: A. HighSchool B. Graduate C. Post Graduate D. Professional E. Other  Occupation: A. Government employee B. Private sector employee C. Business D. Agriculture E. Other CONTINUE…
  • 39.
    CONTINUE………  Monthly Income: A.Below Rs. 20000 B. 20001 to 30000 C. 30001to 40000 D. 40001 to 50000 E. 50001 to 70000 F. Above 70001  Which is the Investment Avenue preferred by you? (You can tick more than one) A. Fixed deposits B. Insurance C. Mutual fund D. Post office E. Shares F. Real estate G. PPF H. Other
  • 40.
    CONTINUE…  Are youinvesting in mutual fund? A. Yes B. No  Which is the Mutual Fund Scheme Preference by you? A. Open Ended B. Close Ended
  • 41.
    Factors extremely imp very Important somewhat important not very important notat all important Retirement purpose Tax Minimization Growth of Capital Marketability Higher income Low risk If other (please specify)  Give your opinion to the following factors while investing in any avenue?
  • 42.
    CONTINUE…  Please giveyour opinion to the following factors of mutual fund Factors Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree Liquidity Higher Return Low Risk Capital Appreciation Professional Management Diversification Benefits
  • 43.
    CONTINUE…  What isthe Frequency of your investment? A. Once in 15 days B. Once a month C. Once in 3 months D. Once in 6 months E. Once a year F. Other  What is your Preferable Route to Mutual Fund Investment ? A. Reference groups B. Newspapers – General & Business C. Financial Magazines D. Television E. Brokers/ Agents F. E-Mail G. Stores Display H. Other
  • 44.
    CONTINUE…  What isyour Preferred Mode of Communication? A. Internet facility B. Personally visiting to office C. Telephone D. No preferences. E. Other  Are you Aware about the benefits of Mutual Fund? A. Highly B. Moderate C. Low
  • 45.
    CONTINUE..  What areyour opinion about the following influencing factors of mutual funds? A. Fund related factors Factors extremel y imp very Importan t somewh at important not very important not at all important Intrinsic Fund Qualities Credibility of Image Flexible Investment Facilities
  • 46.
    Factors extremel y imp very Importan t somewh at importan t notvery importan t not at all important Intrinsic Fund Qualities Credibility of Image Flexible Investment Facilities B. Sponsor related factors CONTINUE…
  • 47.
    CONTINUE… Factors extremel y imp very Importan t somewh at importan t notvery importan t not at all important Transparent Disclosure Tangibles/ Fringe benefits C. Investor service related factors
  • 48.
    CONTINUE…  Would youinvest in Mutual Fund in Future? A. Yes B. No C. Not Sure  Any suggestions
  • 49.
     Websites  https://www.amfiindia.com/new-to-mutual-funds http://www.investopedia.com/terms/m/mutualfund.asp  www.investmentguruindia.com  http://toostep.com/question/i-am-working-on-a-project-consumer- behaviour-about-mutual-fu  www.ssrn.in  policybazaar.com/sip_investment  Reference book:  Cooper, Donald and schindler, Pamela (2009) business research methods, the McGraw- Hill company limited, new Delhi. BIBLIOGRAPHY
  • 50.
    ANALYSIS & INTERPRETATION Frequency Analysis of gender Gender Frequency Percent Valid Percent Cumulative Percent Valid male 118 78.7 78.7 78.7 female 32 21.3 21.3 100.0 Total 150 100.0 100.0 Interpretation Majority of our respondents are male that are 78.7% compare to it female are 21.3%.
  • 51.
     Frequency Analysisof age Age Frequency Percent Valid Percent Cumulative Percent Valid 51-60 years 16 10.7 10.7 10.7 36-50 years 40 26.7 26.7 37.3 19-35 years 94 62.7 62.7 100.0 Total 150 100.0 100.0 Interpretation Above graph represent the age of the respondents, So majority of respondents are fall in 19 to 35 age group that is 62.7% followed by 36 to 50 age group with 26.7% and 51 to 60 age group with 10.7%.
  • 52.
     Frequency Analysisof Qualification Qualification Frequency Percent Valid Percent Cumulative Percent Valid high school 22 14.7 14.7 14.7 Graduate 83 55.3 55.3 70.0 post graduate 26 17.3 17.3 87.3 professional 13 8.7 8.7 96.0 Others 6 4.0 4.0 100.0 Total 150 100.0 100.0 Interpretation Majority of the our respondents are graduate that are 55.3%, 17.3% are post graduate, 14.7% are completed high schools and 8.7% completed professional course.
  • 53.
     Frequency Analysisof Occupation Occupation Frequenc y Percent Valid Percent Cumulative Percent Valid government employee 15 10.0 10.0 10.0 private sector employee 68 45.3 45.3 55.3 Business 50 33.3 33.3 88.7 Agriculture 1 .7 .7 89.3 Others 16 10.7 10.7 100.0 Total 150 100.0 100.0 Interpretation Majority of the investors are engaged in private sector that are45.3%, 33.3% are engaged in business, 10% are government employee, 7% are agriculture farmer and 10.7% engaged in other sectors.
  • 54.
     Frequency Analysisof monthly income Monthly Income Frequenc y Percent Valid Percent Cumulative Percent Valid Below Rs. 20000 17 11.3 11.3 11.3 Rs. 20001 to 30000 28 18.7 18.7 30.0 Rs. 30001 to 40000 56 37.3 37.3 67.3 Rs. 40001 to 50000 25 16.7 16.7 84.0 Rs. 50001 to 70000 20 13.3 13.3 97.3 above 70001 4 2.7 2.7 100.0 Total 150 100.0 100.0 Interpretation Majority of the respondent are fall in 30001 to 40000rs income class with 37.3%, 18.7% having income between 20001 to 30000, 16.7% having income between 40001 to 50000, 13.3% having income between 50001 to 70000, 11.3% having income below 20000rs., 2.7% having above 70001 income.
  • 55.
     Which MutualFund Scheme do you Prefer? preference of mutual fund scheme Frequency Percent Valid Percent Cumulative Percent Valid open ended 119 79.3 79.3 79.3 close ended 5 3.3 3.3 82.7 both 26 17.3 17.3 100.0 Total 150 100.0 100.0 Interpretation Majority of the respondent are prefer to invest in open ended scheme that 79.3%, only 3.3 % investors are prefer to invest in close ended scheme, and 17.3%are prefer to invest in both type of scheme.
  • 56.
     What isthe Frequency of your investment 0 20 40 60 80 100 120 140 160 once in 15 days once a month once in 3 months once in 6 months once a year other 15 49 4 13 101 15 135 101 146 137 49 135 yes no A. Once in 15 days B. once a month C. once in 3 months D. once in 6 months E. once a year F. other
  • 57.
     What isyour Preferable Route to Mutual Fund Investment? ( you can tick more than one) A, reference group B. newspaper-general & Business C. financial magazines D. Television E. Brokers/Agents F. E-mail G. Stores Display H. Hoardings I. other 0 20 40 60 80 100 120 140 160 yes no
  • 58.
     What isthe Level of awareness regarding the benefits of Mutual Fund level of awareness Frequenc y Percent Valid Percent Cumulative Percent Valid not aware 29 19.3 19.3 19.3 Aware 89 59.3 59.3 78.7 aware & expert khowledge 32 21.3 21.3 100.0 Total 150 100.0 100.0 interpretation
  • 59.
    Would you continueinvesting in Mutual Fund in Future continue of investment in future Frequency Percent Valid Percent Cumulativ e Percent Valid Yes 141 94.0 94.0 94.0 No 5 3.3 3.3 97.3 not sure 4 2.7 2.7 100.0 Total 150 100.0 100.0 0 20 40 60 80 100 120 140 160 yes no not sure Series1 Interpretation Majority of the investors are ready to invest in mutual fund in future that are 94%, only 3.3% respondents are not ready to invest in mutual fund and 2.7% are not sure.
  • 60.
     Chi-square analysis Qualificationretirement purpose Crosstab Count Retirement purpose Totalnot important nuetral important extremely important Qualification high school 0 1 12 9 22 graduate 2 8 29 44 83 post graduate 2 5 7 12 26 professional 0 7 2 4 13 others 0 0 2 4 6 Total 4 21 52 73 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 28.440a 12 .005 Likelihood Ratio 24.009 12 .020 Linear-by-Linear Association 1.894 1 .169 N of Valid Cases 150 a. 12 cells (60.0%) have expected count less than 5. The minimum expected count is .16.
  • 61.
    Interpretation As per chi-squaretest the answer is 0.03 which is less than 0.05 so H1 is accepted which means there is a relationship between a gender and retirement purpose which may be a purpose of investment
  • 62.
     Qualification *Tax Minimization Crosstab Count Tax Minimization Totalnot important nuetral important extremely important Qualification high school 2 4 3 13 22 graduate 2 12 42 27 83 post graduate 0 4 15 7 26 professional 0 0 4 9 13 others 0 0 4 2 6 Total 4 20 68 58 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 22.472a 12 .033 Likelihood Ratio 25.833 12 .011 Linear-by-Linear Association 1.878 1 .171 N of Valid Cases 150 a. 11 cells (55.0%) have expected count less than 5. The minimum expected count is .16.
  • 63.
    Interpretation As per testthe answer of chi-square test is 0.033 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and tax minimization which may be a purpose of investment.
  • 64.
     Qualification *Growth of capital Crosstab Count Growth of capital Totalneutral important extremely important Qualification high school 2 14 6 22 graduate 26 36 21 83 post graduate 5 13 8 26 professional 1 6 6 13 others 0 0 6 6 Total 34 69 47 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 22.801a 8 .004 Likelihood Ratio 24.062 8 .002 Linear-by-Linear Association 7.019 1 .008 N of Valid Cases 150 a. 6 cells (40.0%) have expected count less than 5. The minimum expected count is 1.36.
  • 65.
    Interpretation: As per testthe answer of chi-square test is 0.04 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and growth of capital which may be a purpose of investment.
  • 66.
     Qualification *marketability / liquidity Crosstab Count marketability / liquidity Total not at all important not important neutral important extremely important Qualification high school 0 2 5 7 8 22 Graduate 3 4 19 32 25 83 post graduate 0 1 7 9 9 26 Professional 0 0 0 2 11 13 Others 0 1 1 2 2 6 Total 3 8 32 52 55 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 19.602a 16 .239 Likelihood Ratio 21.757 16 .151 Linear-by-Linear Association 3.136 1 .077 N of Valid Cases 150 a. 17 cells (68.0%) have expected count less than 5. The minimum expected count is .12.
  • 67.
    Interpretation: As per testthe answer of chi-square test is 0.239 which is higher than the 0.05 so H0 is accepted it means that there is no association between the qualification and marketability/liquidity which may be a purpose of investment
  • 68.
     Qualification *Higher Income Crosstab Count Higher Income Totalnot important neutral important extremely important Qualification high school 0 2 12 8 22 Graduate 0 14 35 34 83 post graduate 2 2 7 15 26 Professional 0 1 2 10 13 Others 0 2 4 0 6 Total 2 21 60 67 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 25.814a 12 .011 Likelihood Ratio 25.612 12 .012 Linear-by-Linear Association .031 1 .860 N of Valid Cases 150 a. 11 cells (55.0%) have expected count less than 5. The minimum expected count is .08.
  • 69.
    Interpretation: As per testthe answer of chi-square test is 0.011 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and higher income which may be a purpose of investment.
  • 70.
     Qualification *Low Risk Crosstab Count Low Risk Totalnot at all important not important neutral important extremely important Qualification high school 0 2 8 5 7 22 graduate 3 12 19 14 35 83 post graduate 0 4 11 8 3 26 professional 0 0 9 2 2 13 others 0 1 1 4 0 6 Total 3 19 48 33 47 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 30.852a 16 .014 Likelihood Ratio 33.407 16 .007 Linear-by-Linear Association 2.045 1 .153 N of Valid Cases 150 a. 16 cells (64.0%) have expected count less than 5. The minimum expected count is .12.
  • 71.
    Interpretation As per testthe answer of chi-square test is 0.014 which is lower than the 0.05 so H1 is accepted it means that there is association between the qualification and low risk which may be a purpose of investment.
  • 72.
     Monthly Income* Retirement purpose Crosstab Count Retirement purpose Totalnot important nuetral important extremely important Monthly Income Below Rs. 20000 4 0 12 1 17 Rs. 20001 to 30000 0 9 10 9 28 Rs. 30001 to 40000 0 8 19 29 56 Rs. 40001 to 50000 0 0 3 22 25 Rs. 50001 to 70000 0 4 7 9 20 above 70001 0 0 1 3 4 Total 4 21 52 73 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 71.644a 15 .000 Likelihood Ratio 64.673 15 .000 Linear-by-Linear Association 16.684 1 .000 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .11.
  • 73.
    Interpretation: As per testthe answer of chi-square test is 0.000 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and retirement purpose which may be a purpose of investment.
  • 74.
     Monthly Income* Tax Minimization Crosstab Count Tax Minimization Totalnot important nuetral important extremely important Monthly Income Below Rs. 20000 2 5 5 5 17 Rs. 20001 to 30000 0 3 14 11 28 Rs. 30001 to 40000 0 8 21 27 56 Rs. 40001 to 50000 0 2 18 5 25 Rs. 50001 to 70000 2 2 9 7 20 above 70001 0 0 1 3 4 Total 4 20 68 58 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 28.553a 15 .018 Likelihood Ratio 27.032 15 .028 Linear-by-Linear Association .870 1 .351 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .11.
  • 75.
    Interpretation: As per testthe answer of chi-square test is 0.018 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and tax minimization
  • 76.
     Monthly Income* Growth of capital Crosstab Count Growth of capital Totalneutral important extremely important Monthly Income Below Rs. 20000 5 8 4 17 Rs. 20001 to 30000 6 12 10 28 Rs. 30001 to 40000 7 31 18 56 Rs. 40001 to 50000 8 6 11 25 Rs. 50001 to 70000 8 8 4 20 above 70001 0 4 0 4 Total 34 69 47 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 17.752a 10 .059 Likelihood Ratio 19.640 10 .033 Linear-by-Linear Association .546 1 .460 N of Valid Cases 150 a. 5 cells (27.8%) have expected count less than 5. The minimum expected count is .91.
  • 77.
    Interpretation As per testthe answer of chi-square test is 0.059 which is higher than the 0.05 so H0 is accepted it means that there is no association between the monthly income and growth of capital which may be a purpose of investment
  • 78.
     Monthly Income* marketability / liquidity Crosstab Count marketability / liquidity Total not at all important not important neutral important extremely important Monthly Income Below Rs. 20000 0 0 9 2 6 17 Rs. 20001 to 30000 0 0 5 9 14 28 Rs. 30001 to 40000 3 3 3 23 24 56 Rs. 40001 to 50000 0 1 12 11 1 25 Rs. 50001 to 70000 0 2 2 7 9 20 above 70001 0 2 1 0 1 4 Total 3 8 32 52 55 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 62.738a 20 .000 Likelihood Ratio 61.567 20 .000 Linear-by-Linear Association 2.060 1 .151 N of Valid Cases 150 a. 17 cells (56.7%) have expected count less than 5. The minimum expected count is .08.
  • 79.
    Interpretation As per testthe answer of chi-square test is 0.000 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and marketability /liquidity which may be a purpose of investment.
  • 80.
     Monthly Income* Higher Income Crosstab Count Higher Income Totalnot important neutral important extremely important Monthly Income Below Rs. 20000 1 1 15 0 17 Rs. 20001 to 30000 0 4 12 12 28 Rs. 30001 to 40000 1 7 20 28 56 Rs. 40001 to 50000 0 4 6 15 25 Rs. 50001 to 70000 0 5 5 10 20 above 70001 0 0 2 2 4 Total 2 21 60 67 150 Chi-Square Tests Value df Asymp. Sig. (2-sided) Pearson Chi-Square 29.470a 15 .014 Likelihood Ratio 35.064 15 .002 Linear-by-Linear Association 3.249 1 .071 N of Valid Cases 150 a. 13 cells (54.2%) have expected count less than 5. The minimum expected count is .05.
  • 81.
    Interpretation As per testthe answer of chi-square test is 0.014 which is lower than the 0.05 so H1 is accepted it means that there is association between the monthly income and higher income which may be a purpose of investment.
  • 82.
     Monthly Income* Low Risk Crosstab Count Low Risk Totalnot at all important not important neutral important extremely important Monthly Income Below Rs. 20000 0 4 1 7 5 17 Rs. 20001 to 30000 0 3 8 5 12 28 Rs. 30001 to 40000 3 5 19 13 16 56 Rs. 40001 to 50000 0 4 11 5 5 25 Rs. 50001 to 70000 0 0 9 3 8 20 above 70001 0 3 0 0 1 4 Total 3 19 48 33 47 150 Chi-Square Tests Value Df Asymp. Sig. (2-sided) Pearson Chi-Square 36.964a 20 .012 Likelihood Ratio 36.802 20 .012 Linear-by-Linear Association .909 1 .340 N of Valid Cases 150 a. 16 cells (53.3%) have expected count less than 5. The minimum expected count is .08.