COMPARISON OF SIP OF DIFFERENT MUTUAL FUND COMPANIES & RECURRING DEPOSITS OF DIFFERENT BANKS

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SUMMER INTERNSHIP PROJECT REPORT
ON
COMPARISON OF SIP OF DIFFERENT MUTUAL FUND COMPANIES &
RECURRING DEPOSITS OF DIFFERENT BANKS
Submitted for
Partial fulfillment of the requirement of Two Years full time programme in Master of
Business Administration (MBA)
(2018-2019)
Supervised by: - Submitted by:-
Mr. Navin Mathur **** Lohar
MBA IIIrd Sem.
Faculty of Management Studies (FMS)
Janardan Rai Nagar Rajasthan Vidyapeeth (Deemed to be University)
Pratap Nagar, Udaipur (Raj.) 313003

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DECLARATION
We hereby declare that the project work entitled “COMPARISON OF SYSTEMATIC
INVESTMENT PLANS OF DIFFERENT MUTUAL FUND COMPANIES &
RECURRING DEPOSITS OF DIFFERENT BANKS”
(A SPECIAL REFERENCE TO SBI MUTUAL FUND PVT. LTD.) submitted to the
“JANARDAN RAI NAGAR RAJASTHAN VIDYAPEETH (DEEMED TO BE
UNIVERSITY)”, is a record of an original work done by us under the guidance of Mr. Praveen
Saini (Chief Manager) and Prof. Anita Shukla (Director-FMS), Faculty Member, MBA, and
this project work has not performed the basis for the award of any Degree and similar project if
any.

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ACKNOWLEDGMENT
Preservation, inspiration, and motivation have always played a key role in the success of any
venture. In the present world of cutthroat competition project is likely a bridge between theoretical
and practical working, willingly we have prepared this particular project. First of all, I would like to
thank the supreme power, the almighty God who is obviously the one who has always directed us to
work on the right path of our life. With this grace this grace this project could become a reality.
We feel highly delighted with the way our dissertation report on topic “COMPARISON OF
SYSTEMATIC INVESTMENT PLANS OF DIFFERENT MUTUAL FUND COMPANIES &
RECURRING DEPOSITS OF DIFFERENT BANKS WITH SPECIAL REFERENCE TO
SBI MUTUAL FUND PVT. LTD. UDAIPUR” has been completed.
We would like to thanks Mr. Praveen Saini (Chief Manager), Mr. Jatin Doshi (Relationship
manager) and Ms. Ayushi Choudary Ms. Poojal , Mr. Omveer Rao, (SBI City Branch) Udaipur, and
Prof. Anita Shukla (Director-FMS) to provide us the faithful guidance to complete the project.
Finally, I would like to thanks all the faculty members and others people who helped us in
completing this project.

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EXECUTIVE SUMMARY
In few years Mutual Fund has emerged as a tool for ensuring one’s financial well being. Mutual
Funds have not only contributed to the India growth story but have also helped families tap into the
success of Indian Industry. As information and awareness are rising more and more people are
enjoying the benefits of investing in mutual funds. The main reason the number of retail mutual fund
investors remains small is that nine in ten people with incomes in India do not know that mutual
funds exist. But once people are aware of mutual fund investment opportunities, the number who
decide to invest in mutual funds increases to as many as one in five people. The trick for converting
a person with no knowledge of mutual funds to a new Mutual Fund customer is to understand which
of the potential investors are more likely to buy mutual funds and to use the right arguments in the
sales process that customers will accept as important and relevant to their decision.
This Project gave me a great learning experience and at the same time, it gave me enough scope to
implement my analytical ability. The analysis and advice presented in this Project Report are based
on market research on the saving and investment practices of the investors and preferences of the
investors for investment in Mutual Funds. This Report will help to know about the investors’
Preferences in Mutual Fund means Are they prefer any particular Asset Management Company
(AMC), Which type of Product they prefer, Which Option (Growth or Dividend) they prefer or
Which Investment Strategy they follow (Systematic Investment Plan or One time Plan). This Project
as a whole can be divided into two parts.
The first part gives an insight about the Mutual Fund and its various aspects, the Company Profile,
Objectives of the study, Research Methodology. One can have a brief knowledge about Mutual Fund
and its basics through the Project.
The second part of the Project consists of data and its analysis collected through a survey was done
on 100 people. For the collection of Primary data I made a questionnaire and surveyed of 100
people. I also took interview of many People those who were coming at the SBI Branch where I did
my Project. I visited other AMCs in Udaipur to get some knowledge related to my topic. I studied
the products and strategies of other AMCs in Udaipur to know why people prefer to invest in those
AMCs. This Project covers the topic “COMPARISON OF SYSTEMATIC INVESTMENT
PLANS OF DIFFERENT MUTUAL FUND COMPANIES & RECURRING DEPOSITS OF
DIFFERENT BANKS”. The data collected has been well organized and presented. I hope the
research findings and conclusion will be of use.

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CONTENTS
Sr. no. Chapter Page. No.
DECLARATION 2
COMPANY CERTIFICATE 3
ACKNOWLEDGMENT 4
EXECUTIVE SUMMARY 5
CHAPTER-01 MUTUAL FUND INDUSTRY
1.1 INTRODUCTION TO THE INDUSTRY 9
1.2 HISTORY OF MUTUAL FUND IN INDIA 10
1.3 GROWTH OF MUTUAL FUNDS IN INDIA 12
1.4 MEANINGAND CONCEPT OF MUTUAL FUND 14
1.5 STRUCTURE OF MUTUAL FUND 15
1.6 TYPES OF MUTUAL FUND SCHEMES 16
1.7 ADVANTAGES AND DISADVANTAGES OF MUTUAL FUND 20
1.8 INVESTMENT STRATEGIES 22
1.9 OPTION AVAILABLE TO INVESTORS 23
CHAPTER-02 SBI MUTUAL FUND
2.1 INTRODUCTION OF SBI MUTUAL FUND 25
2.2 CORPORATE PROFILE 25
2.3 SBI MUTUAL FUND SCHEME 27
2.4 COMPETITORS OF SBI MUTUAL FUND 28
2.5 RECURRINGDEPOSIT & SYSTEMATIC INVESTMENT PLAN 29
2.6
TAXATION OF RECURRINGDEPOSIT & SYSTEMATIC
INVESTMENT PLAN
31
2.7 REVIEW OF LITERATURE 33
CHAPTER-03
3.1 RESEARCH METHODOLOGY 36
3.3 RESEARCH DESIGN 37
3.3 LIMITATION OF STUDY 38
3.4 RESEARCH ANALYSIS 39
3.5 COMPARISON OF SIP AND RD WITH VARIOUS BANKS 58

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CHAPTER-04
4.1 FINDING 90
4.2 CONCLUSION 91
4.3 SUGGESTION 91
BIBLIOGRAPHY 92
ANNEXURE 93

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CHAPTER - 01
MUTUAL FUND

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1.1 INTRODUCTIONTO THE INDUSTRY
A mutual fund is a professionally-managed form of collective investments that pools
money from many investors and invests it in stocks, bonds, short-term money market instruments,
and/or other securities. In a mutual fund, the fund manager, who is also known as the portfolio
manager, trades the fund's underlying securities, realizing capital gains or losses, and collects the
dividend or interest income. The investment proceeds are then passed along to the individual
investors. The value of a share of the mutual fund, known as the net asset value per share (NAV) is
calculated daily based on the total value of the fund divided by the number of shares currently
issued and outstanding.
A mutual fund is a trust that pools the savings of a number of investors who share a
common financial goal. This pool of money is invested in accordance with a stated objective. The
joint ownership of the fund is thus “Mutual”, i.e. the fund belongs to all investors. The money thus
collected is then invested in capital market instruments such as shares, debentures and other
securities. The income earned through these investments and the capital appreciations realized are
shared by its unit holders in proportion the number of units owned by them. Thus a Mutual Fund
is the most suitable investment for the common man as it offers an opportunity to invest in a
diversified, professionally managed basket of securities at a relatively low cost.
A Mutual Fund is an investment tool that allows small investors access to a well-
diversified portfolio of equities, bonds, and other securities. Each shareholder participates in the
gain or loss of the fund. Units are issued and can be redeemed as needed. The fund's Net Asset
Value (NAV) is determined each day.
Investments in securities are spread across a wide cross-section of industries and sectors
and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in
the same direction in the same proportion at the same time. Mutual fund issues units to the
investors in accordance with quantum of money invested by them. Investors of mutual funds are
known as unitholders.When an investor subscribes for the units of a mutual fund, he becomes part
owner of the assets of the fund in the same proportion as his contribution amount put up with the
corpus (the total amount of the fund). Mutual Fund investor is also known as a mutual fund
shareholder or a unitholder. Any change in the value of the investments made in capital market
instruments (such as shares, debentures etc) is reflected in the Net Asset Value (NAV) of the
scheme. NAV is defined as the market value of the Mutual Fund scheme's assets net of its
liabilities. NAV of a scheme is calculated by dividing the market value of the scheme's assets by
the total number of units issued to the investors.

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1.2 HISTORY OF MUTUAL FUND INDUSTRYIN INDIA
The origin of the Mutual Fund industry in India is with the introduction of the concept of a
mutual fund by UTI in the year 1963. Though the growth was slow, it accelerated from the year
1987 when non-UTI players entered the industry. In the past decade, the Indian Mutual Fund
industry had seen dramatic improvements, both quality wise as well as quantity wise. Before, the
Monopoly of the Market had seen an ending phase; the Assets Under Management (AUM) was Rs.
67bn. The private sector entry to the fund family raised the AUM to Rs. 470 bn in March 1993 and
till April 2004; it reached the height of 1,540 bn. Putting the AUM of the Indian Mutual Funds
Industry into comparison, the total of it is less than the deposits of SBI alone, constitute less than
11% of the total deposits held by the Indian banking industry. The main reason for its poor growth is
that the Mutual Fund industry in India is new in the country. Large sections of Indian investors are
yet to be intellectual with the concept. Hence, it is the prime responsibility of all mutual fund
companies, to market the product correctly abreast of selling. The Mutual Fund industry can be
broadly put into four phases according to the development of the sector. Each phase is briefly
described as under.
First Phase - 1964-87
Unit Trust of India (UTI) was established on 1963 by an Act of Parliament. It was set up by
the Reserve Bank of India and functioned under the Regulatory and administrative control of the
Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial Development
Bank of India (IDBI) took over the regulatory and administrative control in place of RBI. The first
scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had Rs.6, 700 crores of
assets under management.
Second Phase - 1987-1993 (Entry of Public Sector Funds)
Entry of non-UTI mutual funds. SBI Mutual Fund was the first followed by Canbank Mutual
Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89),
Bank of India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC in 1989 and GIC in 1990. The
end of 1993 marked Rs.47, 004 as assets under management.

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Third Phase - 1993-2003 (Entry of Private Sector Funds)
With the entry of private sector funds in 1993, a new era started in the Indian mutual fund
industry, giving the Indian investors a wider choice of fund families. Also, 1993 was the year in
which the first Mutual Fund Regulations came into being, under which all mutual funds, except UTI,
were to be registered and governed. The erstwhile Kothari Pioneer (now merged with Franklin
Templeton) was the first private sector mutual fund registered in July 1993. The 1993 SEBI (Mutual
Fund) Regulations were substituted by a more comprehensive and revised Mutual Fund Regulations
in 1996. The industry now functions under the SEBI (Mutual Fund) Regulations 1996. The number
of mutual fund houses went on increasing, with many foreign mutual funds setting up funds in India
and also the industry has witnessed several mergers and acquisitions. As at the end of January 2003,
there were 33 mutual funds with total assets of Rs. 1, 21,805 crores. The Unit Trust of India with
Rs.44, 541 crores of assets under management was way ahead of other mutual funds.
Fourth Phase - since February 2003
This phase brought a bitter experience for UTI. It was bifurcated into two separate entities.
One is the Specified Undertaking of the Unit Trust of India with AUM of Rs.29, 835 crores (as on
January 2003). The Specified Undertaking of Unit Trust of India, functioning under an administrator
and under the rules framed by Government of India and does not come under the purview of the
Mutual Fund Regulations. The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB,
and LIC. It is registered with SEBI and functions under the Mutual Fund Regulations. With the
bifurcation of the erstwhile UTI which had in March 2018 more than Rs.4,00,000.00 crores of AUM
and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual Fund Regulations,
and with recent mergers taking place among different private sector funds, the mutual fund industry
has entered its current phase of consolidation and growth. As at the end of June 2018, there were 42
funds, which manage assets of Rs.22.86 lakh crores under 1013 schemes.

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1.3 GROWTHOF MUTUAL FUNDS IN INDIA
The mutual fund industry has added 32 lakh new investors last year due to increased awareness of
mutual funds through 'Mutual Funds Sahi Hai' campaign, says Association of Mutual Funds in
India (AMFI). AMFI is the industry association of Asset Management Companies (AMCs) of all
mutual funds in India.
"Concerted efforts taken by the mutual fund industry through the Mutual Funds Sahi Hai campaign,
under the guidance of SEBI, supported by favorable market conditions and support from the
distribution community, led to overwhelming success in the inaugural year of the Mutual Funds Sahi
Hai campaign. Given the rising household incomes and higher appetite towards financial savings
coupled with long-term India growth story, we are sure that mutual funds would become the
investment option of choice of every household in the years to come", says A Balasubramanian,
Chairman,AMFI
“We continue to advocate mutual fund investors have patience and stay invested, add debt and
hybrid funds to their portfolio and allocate more through SIPs, especially in periods of market
volatility and aim to benefit over a longer term", he adds.
The first leg of ‘Mutual Funds Sahi Hai’ campaign was launched on Mar 15, 2017. It aimed at
creating awareness and busting myths around mutual funds, The campaign got a very positive
response. The industry witnessed AUM growth of 25 percent (Rs.4.25 lakh crore), 38 percent
(Rs.3.25 lakh crore) growth in retail AUM till Feb 28, 2018, in comparison from Mar 31, 2017. The
total number of folios and SIP accounts in the same period saw a growth of 26 percent (1.05 crore)
and 52 percent (70 lakh ) respectively. Monthly SIP contribution for the industry touched Rs. 6,425
crores from 2.05 crore SIP accounts.
AMFI Chief Executive, NS Venkatesh says, “We have seen tremendous growth within the mutual
fund industry in the recent years. Going ahead, we want to build on the base and ensure that the
momentum and the faith of the investors continue for investing in mutual funds over the longer
term.”
AMFI recently tied-up with a leading media house to launch Jan Nivesh – an initiative that will
educate, inspire and encourage Indians to change their financial habits to create wealth smartly by
investing regularly in mutual funds and thus, make every citizen of India an equal participant in

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India’s economic growth story. Along with millions of TV viewers, the Jan Nivesh initiative will
also reach out to over 50,000 people on-ground through over 200 events in over 100 cities and
towns.
AMFI will also very soon launch the next leg of the media campaign. In the upcoming campaign,
which continues under the 'Mutual Funds Sahi Hai' banner, AMFI’s objective is to communicate to
the investor on the nuances of mutual fund investing, while extolling the benefits of being invested
for the longer term, especially when markets are volatile.
As part of the campaign, AMFI has a microsite, www.mutualfundssahi.com, available in English and
Hindi, where investors can find detailed information about mutual funds and also locate their nearest
mutual fund office and mutual fund distributors. The website will soon be made available in other
regional languages.
Mutual funds' assets base surged to over Rs 23 lakh crore in 2017-18, adding Rs 4.75 lakh crore to
the kitty, due to a spirited investor awareness campaign by the industry and strong participation from
smaller towns.
Moreover, fund houses may see robust growth in AUM (asset under management) in the current
financial year too, as the penetration levels of mutual funds are still very low in the country.
Total AUM of all the fund houses put together soared by Rs 4.75 lakh crore, or 26 per cent, to Rs
23.05 lakh crore at the end of just concluded fiscal on March 31, 2018 from Rs 18.30 lakh crore in
financial year 2017, the latest update with Association of Mutual Funds in India (AMFI) noted.

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1.4 MEANING AND CONCEPTOF MUTUAL FUND
Meaning: - A Mutual Fund is a trust that pools the savings of a number of investors who share a
common financial goal. Anybody with an investible surplus of as little as a few hundred rupees can
invest in Mutual Funds. These investors buy units of a particular Mutual Fund scheme that has a
defined investment objective and strategy.
The money thus collected is then invested by the fund manager in different types of securities. These
could range from shares to debentures to money market instruments, depending upon the scheme’s
stated objectives. The income earned through these investments and the capital appreciations
realized by the scheme are shared by its unit in proportion to the number of units owned by them.
Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity
to invest in a diversified, professionally managed basket of securities at a relatively low-cost.
Concept: - A Mutual Fund is a trust that pools the savings of a number of investors who share a
common financial goal. The money thus collected is then invested in capital market instruments such
as shares, debentures and other securities The income earned through these investments and the
capital appreciations realized are shared by its unit holders in proportion to the number of units
owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers
an opportunity to invest in a diversified, professionally managed basket of securities at a relatively
low cost. The flow chart below describes broadly the working of a mutual fund broadly the working
of a mutual fund:
INVESTORS
FUND MANAGER
SECURITIES
RETURNS
Pool their
money with
Invest in
Generates
Passed back to
WORKING OF A MUTUAL FUND

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1.5 STRUCTURE OF MUTUAL FUND
1. Board of Directors:- A management investment company (mutual fund company) has a CEO, a
team of officers and a board of directors. Each one of these entities is responsible for serving the
interests of the shareholders. The primary responsibility of the officers and the board of directors is
to handle the investment company's administrative matters. The board of directors is elected by the
investment company's shareholders. The board defines the type of funds that will be offered to the
public. For example, it will suggest offering a selection of funds - growth funds, international funds,
income funds and so on - to meet the investment needs of many individuals. It will also define each
fund's objectives. The board will also approve and hire the investment advisor, transfer agent and
custodian (defined below) for each fund.
2. Sponsor:- The principal underwriter of a mutual fund is called a distributor, or more commonly, the
sponsor. The sponsor has a written contract with the investment company that allows it to purchase
fund shares at the current net asset value and resells the shares to the public at the full public offering
price, either through outside dealers or through its own sales force. The contract with the mutual
fund company is subject to annual renewal, but as long as the sponsor is distributing and marketing
the shares in a satisfactory manner, there is no reason why the sponsor's contract should be
discontinued.
3. Custodian:- The custodian is responsible for the possession of the securities purchased by the
investment company for its portfolio. The custodian also handles most of the investment company's
clerical functions. Once securities are transferred to the custodian for safekeeping, the custodian
must keep the assets physically segregated at all times, restrict access to the account to officers and
employees of the investment company, and allow withdrawal only according to SEC rules.
4. Asset Management Company(AMC): The AMC, which is appointed by the sponsor or the trustees
and approved by SEBI, acts like the investment manager of the trust. The AMC functions under the
supervision of its own Board of Director, and also under the direction of the trustees and SEBI.
AMC, in the name of the trust, floats and manages the different investment “schemes” as per the
SEBI Regulation and as per the investment management agreement shunned with the trustees.
5. Transfer Agent:- The mutual fund contracts with a transfer agent to issue, redeem and cancel fund
shares, handle the distribution of dividend and capital gains to shareholders and send out trade
confirmations. In certain instances, the custodian will act as a transfer agent. The fund company
usually pays the transfer agent a fee for services rendered.
6. Dealers:-As mentioned before, the sponsor usually distributes shares of the mutual fund through
dealers. The dealers purchase shares from the sponsor at a discount to the public offering price and
fill their customers' orders. It is important to note that dealers cannot buy shares for their own
inventory to sell at a later date. They may purchase shares to fill customer orders or for their own
investment, but any purchase that occurs for a dealer's own investment must be redeemed when sold;
it cannot be sold to an investor.

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1.6 TYPES OF MUTUAL FUNDS
 Types of Mutual Funds Basedon Structure
i. Open-Ended Funds: These are funds in which units are open for purchase or redemption
through the year. All purchases/redemption of these fund units are done at prevailing NAVs.
Basically, these funds will allow investors to keep invest as long as they want. There are no
limits on how much can be invested in the fund. They also tend to be actively managed
which means that there is a fund manager who picks the places where investments will be
made. These funds also charge a fee which can be higher than passively managed funds
because of the active management. They are an ideal investment for those who want
investment along with liquidity because they are not bound to any specific maturity periods.
Which means that investors can withdraw their funds at any time they want thus giving them
the liquidity they need.
ii. Close-Ended Funds: These are funds in which units can be purchased only during the initial
offer period. Units can be redeemed at a specified maturity date. To provide for liquidity,
these schemes are often listed for trade on a stock exchange. Unlike open-ended mutual
funds, once the units or stocks are bought, they cannot be sold back to the mutual fund,
instead they need to be sold through the stock market at the prevailing price of the shares.
iii. Interval Funds: These are funds that have the features of open-ended and close-ended funds
in that they are opened for the repurchase of shares at different intervals during the fund
tenure. The fund management company offers to repurchase units from existing unit holders
during these intervals. If unit holders wish to they can offload shares in favor of the fund.
 Types of Mutual Funds Basedon Asset Class
i. Equity Funds: These are funds that invest in equity stocks/shares of companies. These are
considered high-risk funds but also tend to provide high returns. Equity funds can include
special funds like infrastructure, fast-moving consumer goods, and banking to name a few.
They are linked to the markets and tend to
ii. Debt Funds: These are funds that invest in debt instruments e.g. company debentures,
government bonds, and other fixed-income assets. They are considered safe investments and
provide fixed returns. These funds do not deduct tax at source so if the earning from the
investment is more than Rs. 10,000 then the investor is liable to pay the tax on it himself.
iii. Money Market Funds: These are funds that invest in liquid instruments e.g. T-Bills, CPs
etc. They are considered safe investments for those looking to park surplus funds for

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immediate but moderate returns. Money markets are also referred to as cash markets and
come with risks in terms of interest risk, reinvestment risk, and credit risks.
iv. Balanced or Hybrid Funds: These are funds that invest in a mix of asset classes. In some
cases, the proportion of equity is higher than debt while in others it is the other way round.
Risk and returns are balanced out this way. An example of a hybrid fund would be Franklin
India Balanced Fund-DP (G) because in this fund, 65% to 80% of the investment is made in
equities and the remaining 20% to 35% is invested in the debt market. This is so because the
debt markets offer a lower risk than the equity market.
 Types of Mutual Funds Basedon Investment Objective
i. Growth funds: Under these schemes, money is invested primarily in equity stocks with the
purpose of providing capital appreciation. They are considered to be risky funds ideal for
investors with a long-term investment timeline. Since they are risky funds they are also ideal
for those who are looking for higher returns on their investments.
ii. Income funds: Under these schemes, money is invested primarily in fixed-income
instruments e.g. bonds, debentures etc. with the purpose of providing capital protection and
regular income to investors.
iii. Liquid funds: Under these schemes, money is invested primarily in short-term or very short-
term instruments e.g. T-Bills, CPs etc. for the purpose of providing liquidity. They are
considered to be low on risk with moderate returns and are ideal for investors with short-term
investment timelines.
iv. Tax-Saving Funds (ELSS): These are funds that invest primarily in equity shares.
Investments made in these funds qualify for deductions under the Income Tax Act. They are
considered high on risk but also offer high returns if the fund performs well.
v. Capital Protection Funds: These are funds where funds are being split between investment
in fixed income instruments and equity markets. This is done to ensure the protection of the
principle that has been invested.
vi. Fixed Maturity Funds: Fixed maturity funds are those in which the assets are invested in
debt and money market instruments where the maturity date is either the same as that of the
fund or earlier than it.
vii. Pension Funds: Pension funds are mutual funds that are invested in with a really long-term
goal in mind. They are primarily meant to provide regular returns around the time that the
investor is ready to retire. The investments in such a fund may be split between equities and
debt markets where equities act as the risky part of the investment providing higher return

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and debt markets balance the risk and provide lower but steady returns. The returns from
these funds can be taken in lump sums, as a pension or a combination of the two.
 Types of Mutual Funds based on specialty
i. Sector Funds: These are funds that invest in a particular sector of the market e.g.
Infrastructure funds invest only in those instruments or companies that relate to the
infrastructure sector. Returns are tied to the performance of the chosen sector. The risk
involved in these schemes depends on the nature of the sector.
ii. Index Funds: These are funds that invest in instruments that represent a particular index on
an exchange so as to mirror the movement and returns of the index e.g. buying shares
representative of the BSE Sensex.
iii. Fund of funds: These are funds that invest in other mutual funds and returns depend on the
performance of the target fund. These funds can also be referred to as multi-manager funds.
These investments can be considered relatively safe because the funds that investors invest in
actually hold other funds under them thereby adjusting for risk from any one fund.
iv. Emerging market funds: These are funds where investments are made in developing
countries that show good prospects for the future. They do come with higher risks as a result
of the dynamic political and economic situations prevailing in the country.
v. International funds: These are also known as foreign funds and offer investments in
companies located in other parts of the world. These companies could also be located in
emerging economies. The only companies that won’t be invested in will be those located in
the investor’s own country.
vi. Global funds: These are funds where the investment made by the fund can be in a company
in any part of the world. They are different from international/foreign funds because, in
global funds, investments can be made even the investor's own country.
vii. Real estate funds: These are the funds that invest in companies that operate in the real estate
sectors. These funds can invest in realtors, builders, property management companies and
even in companies providing loans. The investment in the real estate can be made at any
stage, including projects that are in the planning phase, partially completed and are actually
completed.
viii. Commodity focused stock funds: These funds don’t invest directly in the commodities.
They invest in companies that are working in the commodities market, such as mining
companies or producers of commodities. These funds can, at times, perform the same way
the commodity is as a result of their association with their production.

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ix. Market neutral funds: The reason that these funds are called market neutral is that they
don’t invest in the markets directly. They invest in treasury bills, ETFs, and securities and try
to target a fixed and steady growth.
x. Inverse/leveraged funds: These are funds that operate, unlike traditional mutual funds. The
earnings from these funds happen when the markets fall and when markets do well these
funds tend to go into a loss. These are generally meant only for those who are willing to incur
massive losses but at the same time can provide huge returns as well, as a result of the higher
risk they carry.
xi. Asset allocation funds: The asset allocation fund comes in two variants, the target date fund,
and the target allocation funds. In these funds, the portfolio managers can adjust the allocated
assets to achieve results. These funds split the invested amounts and invest it in various
instruments like bonds and equity.
xii. Gilt Funds: Gilt funds are mutual funds where the funds are invested in government
securities for a long term. Since they are invested in government securities, they are virtually
risk-free and can be the ideal investment for those who don’t want to take risks.
xiii. Exchange traded funds: These are funds that are a mix of both open and close ended mutual
funds and are traded on the stock markets. These funds are not actively managed, they are
managed passively and can offer a lot of liquidity. As a result of their being managed
passively, they tend to have lower service charges (entry/exit load) associated with them.
 Types of Mutual Funds based on risk
i. Low risk: These are the mutual funds where the investments made are by those who do not
want to take a risk with their money. The investment in such cases are made in places like the
debt market and tend to be long-term investments. As a result of them being low risk, the
returns on these investments is also low. One example of a low-risk fund would be gilt funds
where investments are made in government securities.
ii. Medium risk: These are the investments that come with a medium amount of risk to the
investor. They are ideal for those who are willing to take some risk with the investment and
tends to offer higher returns. These funds can be used as an investment to build wealth over a
longer period of time.
iii. High risk: These are those mutual funds that are ideal for those who are willing to take
higher risks with their money and are looking to build their wealth. One example of high-risk
funds would be inverse mutual funds. Even though the risks are high with these funds, they
also offer higher returns.

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1.7 ADVANTAGES AND DISADVANTAGES OF MUTUAL FUND
 Advantages:-
i. Professional Management - The basic advantage of funds is that, they are professional
managed, by well qualified professional. Investors purchase funds because they do not have
the time or the expertise to manage their own portfolio. A mutual fund is considered to be
relatively less expensive way to make and monitor their investments.
ii. Diversification - Purchasing units in a mutual fund instead of buying individual stocks or
bonds, the investors risk is spread out and minimized up to certain extent. The idea behind
diversification is to invest in a large number of assets so that a loss in any particular
investment is minimized by gains in others.
iii. Economies of Scale - Mutual fund buy and sell large amounts of securities at a time, thus
help to reducing transaction costs, and help to bring down the average cost of the unit for
their investors.
iv. Liquidity - Just like an individual stock, mutual fund also allows investors to liquidate their
holdings as and when they want.
v. Simplicity - Investments in mutual fund is considered to be easy, compare to other available
instruments in the market, and the minimum investment is small. Most AMC also have
automatic purchase plans whereby as little as Rs. 2000, where SIP start with just Rs.50 per
month basis.
vi. Well-Regulated- All Mutual Funds are registered with SEBI and they function within the
provisions of strict regulations designed to protect the interests of investors. The operations
of Mutual Funds are regularly monitored by SEBI.
vii. Affordability- Investors individually may lack sufficient funds to invest in high- grade
stocks. A mutual fund because of its large corpus allows even a small investor to take the
benefit of its investment strategy.
viii. Transparency- You get regular information on the value of your investment in addition to
disclosure on the specific investments made by your scheme, the proportion invested in each
class of assets and the fund managers investment strategy and outlook.
ix. Choice of Schemes- Mutual Funds offers a family of schemes to suit your varying needs
over a lifetime.

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 Disadvantages:-
i. Fluctuating Returns - Mutual funds do not offer fixed guaranteed returns, in that you should
always be prepared for any eventuality including depreciation in the value of your mutual fund.
In other words, mutual funds entail a wide range of price fluctuations.
ii. No Control - All types of mutual funds are managed by fund managers. In many cases, the fund
manager may be supported by a team of analysts. Consequently, as an investor, you do not have
any control over your investment. All major decisions concerning your fund are taken by your
manager.
iii. Costs - The biggest source of AMC income is generally from the entry & exit load which they
charge from investors, at the time of purchase. The mutual fund industries are thus charging
extra cost under layers of jargon.
iv. Dilution - Because funds have small holdings across different companies, high returns from a
few investments often don’t make much difference on the overall return. Dilution is also the
result of a successful fund getting too big. When money pours into funds that have had strong
success, the manager often has trouble finding a good investment for all the money.

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1.8 INVESTMENT STRATEGIES
A. Systematic Investment Plan: under this a fixed sum is invested month on a fixed date of a
month .payment is made through post dated cheque or direct debt facilities. The investors
gets fewer unit’s when the NAV is high and more units when the NAV is low. This is called
as a benefit of Rupee Cost Averaging (RCA)
B. Systematic transfer plan: An STP is a plan that allows investors to give consent to a mutual
fund to periodically transfer a certain amount / switch (redeem) certain units from one
scheme and invest in another scheme of the same mutual fund house. Thus at regular
intervals an amount/number of units you choose is transferred from one mutual fund scheme
to another of your choice. This facility thus helps in deploying funds at regular intervals.
C. Systematic withdrawal plan: Systematic Withdrawal Plan or SWP refers to this scheme that
allows the investor to withdraw from his mutual fund scheme every month on an already set
date. This withdrawal could be a fixed or a variable amount and the withdrawal can be either
annually, semi-annually, quarterly or even monthly.

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1.9 Options Available To Investors
Each plan of every mutual fund has three option- growth, dividend and dividend reinvestment.
Separate NAV are calculated for schemes.
Dividend option -
Under the dividend plan dividend usually declared on quarterly or annual basis. Mutual fund reserve
the right to change the frequency of dividend declared.
 Dividend reinvestment option:
Instead of remittances of units through layouts, units holder may choose to invest the entire devidend
in additional units of the scheme at NAV related prices of the next working day after the record date.
No sales or entry load is levied on dividend reinvestment.
 Growth option:
Under, this plan returns accrued to the investors in the form of capital appreciation as reflected in
NAV. The scheme will not declare the dividend under the growth plan and investors who opt for this
plan will not receive any income from the scheme. Instead of income earned on their units will
remain invested within the scheme and will the scheme and will be reflected in the NAV.

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CHAPTER - 02
SBI MUTUAL FUND

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2.1 INTRODUCTIONOF SBIMUTUAL FUND
SBI Mutual Funds are an Indian-based mutual fund. In operation since 1987, the SBI fund is one
of India’s premier investment products. With a network of over 222 points of acceptance
throughout India, this fund has very good national coverage, and is well worth considering as a
potential investment vehicle.
2.2 CORPORATEPROFILE
2.2.1 IDENTITY:-
With 30 years of rich experience in fund management, we at SBI Funds Management
Pvt. Ltd. bring forward our expertise by consistently delivering value to our investors.
We have a strong and proud lineage that traces back to the State Bank of India (SBI) -
India's largest bank. We are a Joint Venture between SBI and AMUNDI (France), one
of the world's leading fund management companies.With our network of over 222
points of acceptance across India, we deliver value and nurture the trust of our vast and
varied family of investors.Excellence has no substitute. And to ensure excellence right
from the first stage of product development to the post-investment stage, we are ably
guided by our philosophy of ‘growth through innovation’ and our stable investment
policies. This dedication is what helps our customers achieve their financial objectives.
2.2.2 OUR VISION:-
“To be the most preferred and the largest fund house for all asset classes, with a
consistent track record of excellent returns and best standards in customer service,
product innovation, technology and HR practices.”
2.2.3 OUR SERVICES:-
 Mutual Funds:- Investors are our priority. Our mission has been to establish Mutual
Funds as a viable investment option to the masses in the country. Working towards it,
we developed innovative, need-specific products and educated the investors about the
added benefits of investing in capital markets via Mutual Funds.Today, we have been
actively managing our investor's assets not only through our investment expertise in

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domestic mutual funds, but also offshore funds and portfolio management advisory
services for institutional investors.This makes us one of the largest investment
management firms in India, managing investment mandates of over 5.4 million
investors.
 Portfolio Management and Advisory Services :-SBI Funds Management has
emerged as one of the largest player in India advising various financial institutions,
pension funds, and local and international asset management companies.We have
excelled by understanding our investor's requirements and terms of risk / return
expectations, based on which we suggest customized asset portfolio
recommendations. We also provide an integrated end-to-end customized asset
management solution for institutions in terms of advisory service, discretionary and
non-discretionary portfolio management services.
 Offshore Funds:-SBI Funds Management has been successfully managing and
advising India's dedicated offshore funds since 1988. SBI Funds Management was the
1st bank sponsored asset management company fund to launch an offshore fund
called 'SBI Resurgent India Opportunities Fund' with an objective to provide our
investors with opportunities for long-term growth in capital, through well-researched
investments in a diversified basket of stocks of Indian Companies.
 Alternative Investment Funds (AIF):-As part of the various asset management
bouquets of products offered by the SBI Funds Management Private Limited, we
additionally offer alternate asset investment products through Alternative Investment
Funds. We launched our first alternative investment fund in 2015 and more funds are
on the anvil as the space is still nascent and a lot of opportunities exist. With a defined
regulatory framework in place, we see AIFs growing faster and boosting investments
in the country with participation from domestic as well as foreign investors

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2.3 SBI MUTUAL FUND SCHEMES
S.No Scheme Name
1 SBI Equity Hybrid Fund
2 SBI Multi Asset Allocation Fund
3 SBI Magnum Midcap Fund
4 SBI Arbitrage Opportunities Fund
5 SBI Magnum Multicap Fund
6 SBI Infrastructure Fund
7 SBI Bluechip Fund
8 SBI Magnum Low Duration Fund
9 SBI Magnum Equity ESG Fund
10 SBI Short Term Debt Fund
11 SBI Large & Midcap Fund
12 SBI - ETF GOLD
13 SBI Magnum Taxgain Scheme
14 SBI PSU Fund
15 SBI Magnum Global Fund
16 SBI Magnum Gilt Fund
17 SBI Magnum Income Fund
18 SBI Credit Risk Fund
19 SBI Consumption Opportunities Fund
20 SBI Savings Fund
21 SBI Technology Opportunities Fund
22 SBI Gold Fund
23 SBI Healthcare Opportunities Fund
24 SBI - ETF Sensex
25 SBI Contra Fund
26 SBI Banking and PSU Fund
27 SBI Nifty Index Fund
28 SBI Small Cap Fund
29 SBI Magnum Children's Benefit Fund
30 SBI Banking & Financial Services Fund
31 SBI Overnight Fund

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32 SBI - ETF Nifty Next 50
33 SBI Magnum Medium Duration Fund
34 SBI - ETF Nifty Bank
35 SBI Liquid Fund
36 SBI - ETF BSE 100
37 SBI Dynamic Bond Fund
38 SBI Dynamic Asset Allocation Fund
39 SBI Focused Equity Fund
40 SBI Equity Savings Fund
41 SBI Debt Hybrid Fund
42 SBI - ETF Nifty 50
43 SBI Magnum Ultra Short Duration Fund
44 SBI - ETF 10 Year Gilt
45 SBI Magnum Constant Maturity Fund
46 SBI Debt Fund Series C - 15 (91 Days)
47 SBI Magnum Comma Fund
2.4 COMPETITORSOF SBIMUTUAL FUND
Name ofMutual Fund Company/AMC Website
Axis Asset Management Company Ltd. www.axismf.com
Birla Sun Life Asset Management Company Ltd www.birlasunlife.com
HDFC Asset Management Company Ltd www.hdfcfund.com
ICICI Prudential Asset Management Company Ltd www.icicipruamc.com
IDBI Asset Management Ltd www.idbimutual.co.in
L&T Investment Management Ltd. www.lntmf.com
Reliance Capital Asset Management Ltd. www.reliancemutual.com
Sundaram Asset Management Company Ltd www.sundarammutual.com
UTI Asset Management Company Ltd www.utimf.com
Tata AssetManagement Ltd www.tatamutualfund.com
NG Investment Management (India) Pvt. Ltd. www.ingim.co.in
Indiabulls Asset Management Company Ltd. www.indiabullsmf.com
Edelweiss Asset Management Ltd www.edelweissmf.com
Kotak Mahindra AssetManagement Company Ltd. www.kotakmutual.com

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2.5 RECURRING DEPOSIT & SYSTEMATIC INVESTMENTPLAN.
 Recurring Deposit :-The Recurring deposit account is an account in the bank or in a Post office
where a depositor deposits a preset amount of money every month for a fixed time period
(generally ranging from one year to five years). The little monthly savings in the Recurring
Deposit plan allow the saver to build up an attractive sum on maturity. Interest rate in this kind
of deposit scheme is calculable on quarterly compounded based.
Features of Recurring Deposit
a) Minimum monthly deposits of Rs.100 with no maximum limit.
b) Minimum period of deposit is 12 months and maximum is 120 months.
c) TDS is not applicable.
d) Loan or Overdraft facility is available with the balance in RD account as collateral.
e) Passbooks are provided.
There is a saying we all have heard of- “saving every drop can make an ocean”. So, start saving
small to gain large in future.
Advantages of a Recurring Deposit:
a) Fixed monthly investment: In recurring deposit, you invest a fixed amount every month. It is
very similar to paying the EM!. You can start with fewer amounts. In many banks you can start it
with monthly investment of as low as Rs. 100.
b) Fixed duration: You can go for a recurring deposit option for a fixed tenure. In most of the
banks, you may choose maturity period ranging from 6 months to 10 years.
c) Fixed rate of interest: Rate of interest in a recurring deposit is fixed. It remains the same for the
entire duration of the recurring deposit.
Disadvantages of a recurring deposit:
a) In case of urgency, money cannot be withdrawn instantly.

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 Systematic Investment Plan :- Dreams can only be achieved if you work towards them. Even
building wealth is no different. A Systematic Investment Plan (SIP) helps you do just that. With
SIP, you can invest a fixed amount in mutual funds step-by-step monthly or quarterly over a
period of time, thereby averaging out your cost of investing and benefiting from the power of
compounding.
Features of Systematic Investment Plan
a) Periodic investing-investor can choose different periods varying from daily weekly and
monthly basis.
b) Auto debit- there is no need to issue payment every month in SIP. One has to give direct debit
mandate of Mutual Fund Company and postdated cheques and bank account get debited on the
dates selected by investor.
c) Amount- one can choose amount as low as rupees hundred and can have any amount beyond
that.
d) Multiple SIP- investors can have any number of SIPS as per individual capacity of investing.
e) Investment- investment can be made in equity or debt mutual fund and has to be decided at the
star if SIP.
Advantages of a Systematic Investment Plan
a) Stress-free way of investing: Investor doesn’t have to worry about timing the market. It’s stress-
free. Once the mechanism is set-up, fixed amount will be deducted from your account.
b) Short-term fluctuation doesn’t harm as much: If the price goes down by 10 % in the next month.
You have a consolation that you are also buying at reduced price too. And if the market recovers
to previous level, you actually make money overall.
Disadvantages of a Systematic Investment Plan
a) If price of underlying (investment vehicle) doubles in first month and don’t move much after
that, then you won’t have handsome returns.
b) If you have significant amount of cash to begin with, then it doesn’t make much sense to do SIP
and keep the rest of amount as cash in initial period.
c) SIP averages out short-term fluctuation and gives returns similar to long-term growth of
underlying.

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2.6 Taxationof Recurring Deposit& Systematic Investment Plan
Recurring Deposit
Form 15G Form 15H and Form 16A
Form 15G is a must if you want to save taxation on your income. However, From 16A is a form that
is filled and provided to you by your employer, who deducts the TDS from your income. Note, that
regardless of being eligible for TDS on your income, you will be provided with the Form 16A. Also,
keep it in mind that the Form 15G is applicable for people who are under 60 years of age. Form 15H
is a similar form for ITR submission, like Form 15G, but is only meant for people who are 60 years
and over (senior citizens).
Current Income Taxation Slab F.Y. 2018-19: Resident Individual Below The Age of 60 Years
To get you knowing whether you need to furnish the Form 15G and submit it for your income tax,
checkout the income taxation slab below:
Annual Income (in Indian Rupees) Tax Rate
TDS on Recurring Deposit Interest
Earned (if interest is more than Rs.10,000)
Less than Rs. 2.50 lakhs Not Applicable 10%
Between Rs.2.5 lakhs and Rs.5 lakhs 5% of sumexceeding Rs.2.5 lakhs 10%
Between Rs.5 lakhs and Rs.10 lakhs 20% of sum exceeding Rs.5 lakhs 10%
Over Rs. 10 lakhs 30% of sum exceeding Rs.10 lakhs 10%
Surcharge:
10% of income tax, where total income is between Rs. 50 lakhs and Rs.1 crore.
15% of income tax, where total income exceeds Rs. 1 crore.
Current Income Taxation Slab F.Y. 2018-19: Resident Individual The Age of 60 Years Old or
more but less than 80 years old
TDS on Recurring Deposit Interest Earned
(if interest is more than Rs.10,000)
Between Rs. 3.00 lakhs and Rs.5 lakhs 5% of sumexceeding Rs.3.00 lakhs 10%
Between Rs.5 lakhs and Rs.10 lakhs 20% of sum exceeding Rs.5 lakhs 10%
Surcharge:

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Current Income Taxation Slab F.Y. 2018-19: Resident Individual The Age of 80 Years Old or
more
TDS on Recurring Deposit Interest Earned
(if interest is more than Rs.10,000)
Between Rs. 5.00 lakhs and Rs10.00 lakhs 20% of sum exceeding Rs.5 lakhs 10%
Surcharge:
Systematic Investment Plan
Equity Oriented Scheme Taxation
Individual/HUF Domestic Company NRI
Dividend
In the hands of the investors Nil Nil Nil
DDT (Paid by Scheme) Nil Nil Nil
Capital Gains
*LTCG – units held for more than 12 months. *STCG-units held for 12 months or less
Short Term 15% 15% 15%
Long Term Nil Nil Nil

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2.7 REVIEW OF LITERATURE
Mutual funds attracted the interests of academicians, researchers and financial analysts mostly since
1986. A number of articles have been published in financial dailies like economic times, business
line and financial express etc. and in professional and research journals. Literature review on
performance evaluation of mutual fund is enormous. A few research studies are as below :-
Dr. K. Veeraiah and Dr. A. Kishore Kumar (Jan 2014), conducted a research on Comparative
Performance Analysis of Select Indian Mutual Fund Schemes. This study analyzes the performance
of Indian owned mutual funds and compares their performance. The performance of these funds was
analyzed using a five year NAVs and portfolio allocation. Findings of the study reveals that, mutual
funds out perform naïve investment. Mutual funds as a medium-to-long term investment option are
preferred as a suitable investment option by investors
Priyadarshini and Dr. A. Chandra Babu (2011), have done Prediction of The Net Asset Values of
Indian Mutual Funds Using Auto- Regressive Integrated Moving Average (Arima). In this paper,
some of the mutual funds in India had been modeled using Box-Jenkins autoregressive integrated
moving average (ARIMA) methodology. Validity of the models was tested using standard statistical
techniques and the future NAV values of the mutual funds have been forecasted.
Dr. Ranjit Singh, Dr. Anurag Singh and Dr. H. Ramananda Singh (August 2011), have done
research on Positioning of Mutual Funds among Small Town and Sub-Urban Investors. In the recent
past the significant proportion of the investment of the urban investor is being attracted by the
mutual funds. This has led to the saturation of the market in the urban areas. In order to increase
their investor base, the mutual fund companies are exploring the opportunities in the small towns and
sub-urban areas. But marketing the mutual funds in these areas requires the positioning of the
products in the minds of the investors in a different way. The product has to be acceptable to the
investors, it should be affordable to the investors, it should be made available to them and at the
same time the investors should be aware of it. The present paper deals with all these issues. It
measures the degree of influence on acceptability, affordability, availability and awareness among
the small town and sub-urban investors on their investment decisions.
Rajiv G. Sharma (Aug 2013) has done a Comparative Study on Public and Private Sector Mutual
Funds in India. The study at first tests whether there is any relation between demographic profile of
the investor and selection of mutual fund alternative from among public sector and private sector.
For the purpose of analysis perceptions of selected investors from public and private sector mutual
funds are taken into consideration. The major factors influencing the investors of public and private
sectors mutual funds are identified. The factors under consideration to compare between perceptions

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of public and private sector mutual fund investors are Liquidity, Security, Flexibility, Management
fee, Service Quality, Transparency, Returns and Tax benefits.
Dr.S. Vasantha, Uma Maheswari and K.Subashini, (Sep 2013), Evaluating the Performance of
some selected open ended equity diversified Mutual fund in Indian mutual fund Industry. The main
objective of this research paper is to evaluate the performance of selective open ended equity
diversified Mutual fund in the Indian equity market. For the purpose of conducting this study HDFC
top 200 fund(g).Reliance top 200(g).ICICI Prudential top 200(g). Canara Robeco equity diversified
fund(g).Birla Sun Life frontline equity (g) mutual funds have been studied over the period of 60
months data which is from January 2008 to December 2012.The analysis has been made on the basis
of Sharpe ratio, Treynor ratio and Jenson .
Dr. B. Saritha, (Feb 2012) has studied Mutual Fund Investment Decisions by Using Fama
Decomposition Models. Mutual Funds are dynamic Financial Institutions (FI) which play a crucial
role in an economy by mobilizing savings and investing them in the capital market. Thus,
establishing a link between savings and capital market. Therefore, the activities of mutual funds have
both short and long term impact on the savings & capital markets and the national economy
Mr. Jay R. Joshi, (Mar 2013), Mutual Funds: An Investment Option from Investors’ Point of View.
This study is of descriptive type research. The target population will be individual investor in Anand
– Vidyanagar area of relatively affluent western State of Gujarat (India). The survey will be based on
convenience sampling having 100 investors as sample size. The study will try to identify the
consumers’ preference for various mutual funds and the main reasons for investment in mutual fund
schemes. The study will also try to investigate various factors that investor is thinking before
selecting a mutual fund company. Overall, the study is focusing on the behavior of individual
investors and hence form a part of behavioral finance area.

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CHAPTER - 03
RESEARCH METHODOLOGY

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3.1 RESEARCHMETHODOLOGY
1. Introduction:-
A market research was performed to find out the actuality from the investors about how much they
are satisfied with the procedures of mutual fund. It was done to find out what investors think about
Mutual Funds; what factors affect their satisfaction level and how much they rate the Mutual Funds.
Thus, a questionnaire was devised to fetch the above-mentioned information from the investors.
Most of the questions in the questionnaire were objective in nature which helped the people to fill it
utmost ease.
2. Title of Study:-
A study of comparison of systematic investment plans of different mutual fund companies &
recurring deposits of different banks.
3. Objective of study:
1. To find out the Preference of the investors for Asset Management of company.
2. To know the preference of the portfolios.
3. To know why one has invested in SBI Mutual Funds.
4. To find out the most preference channel.
5. To find out investors interest regarding Mutual fund and recurring deposits.
6. To analyze the customer preference between mutual funds and recurring deposits.
Hypothesis :
Ho – There is no significant relationship between group of age and the investment preference
by investor.
Ha - There is significant relationship between group of age and the investment preference
by investor.

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3.2 RESEARCHDESIGN
A research design is the arrangement of condition for collection and analysis of data in a manner that
aims to combine relevance to the research purpose with economy in procedure.
1. Universe Udaipur, Rajasthan
2. ResearchDesign
 Exploratory Research &
 Descriptive Research: Descriptive
Research is description of state of affairs
as it exists at present.
3. Sample Methods Convenience Sampling
4. Sample Size 100 Respondents (Customers)
5.
Source of Data
Primary Data Primary data through Questionnaires and
interaction with customers.
Secondary Data
Websites, Factsheets, News Paper,
Magazines, Booklets, Television.
6. Duration 60 Days
7. Questionnaire
For getting primary information from the
selected sample a structured questionnaire
has been prepared which includes close
ended and open ended questions.
8. Statistical Tools
 Frequency Distribution
 Charts
 Percentage
 Chi Square Test

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3.3 Limitation of the study:
1. Time limitation.
2. Research has been done only at SBI Madhuban Main Branch Udaipur.
3. Some of the persons were not so responsive.

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3.4 RESEARCHAND ANALYSIS
1. Gender
(A) Male ( )
(B) Female ( )
INTERPRITATION: - Out of my survey of 100 people, 77% of the investors are Male and 23% of
the Investor is Female.
2. Marital status
(A) Married ( )
(B) Unmarried ( )
77%
23%
GENDER
MALE
FEMALE
Gender No. of respondents Percentage
Male 77 77%
Female 23 23%
Total 100 100%
Marital Status No. of respondents Percentage
Married 62 62%
Unmarried 38 38%
Total 100 100%

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INTERPRITATION: - Out of my survey of 100 people, 62% of the investors are married and 38%
of the Investor is unmarried.
3. Age
(A) 18-25 yrs ( )
(B) 26-35 yrs ( )
(C) above 35 yrs ( )
Interpretation - Here, it is been found that most of the investors i.e,45% of the investors who invest
in Mutual Fund lies in between the age group of 26-35, they are more reluctant as well as
experienced in this field of Mutual Fund.
Then the Second highest age group lies in between the age group of 18-25 (29%), they are also
aware of the benefits in investing in mutual fund.
62%
38%
MARRITAL STATUS
MARRIED
UNMARRIED
29%
45%
26%
Age
18-25
26-35
35 Above
Age (Year) No. of respondents Percentage
18-25 29 29%
26-35 45 45%
Above 35 26 26%
Total 100 100%

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4. You belong to which one of the following category:
(A) Govt. Employee ( )
(B) Professional ( )
(C) Private Employee ( )
(D) Self Employed Business Person ( )
(E) Agriculturist ( )
(F) Others ( )
Interpretation - Here it is amazed to see that around 35% of the investment is been invested
by the persons working in Private sectors, according to them investing in Mutual Funds is
more safer as well as more gainer.
Then we find that the businessmen of around 24% gives more preference in investing in
mutual funds, they think that investing in mutual fund is better than investing in shares as well
as Post office.
Next we see that the persons working in Government sectors of around 15% only invests in
Mutual Fund.
15%
9%
35%
24%
2%
15%
OCCPATIONS
GOVT EMPLOYEE
PROFESSIONALS
PRIVATE EMPLOYEE
BUSINESS PERSONS
AGRICULTURIEST
OTHERS
Occupation No. of respondents Percentage
Govt. Employee 15 15%
Professional 9 9%
Private Employee 35 35%
Self Employed Business Person 24 24%
Agriculturist 2 2%
Others 15 15%
Total 100 100%

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5. Your annual income is in the range of:
(A) Below Rs. 1 Lakh ( )
(B) Between 1 Lakh to 2 Lakh ( )
(C) Between 2 Lakh to 3 Lakh ( )
(D) Between 3 Lakh to 4 Lakh ( )
(E) Between 4 Lakh to 5 Lakh ( )
(F) Above Rs. 5 Lakh. ( )
Interpretation - Here, we find that investors of around 26% with the monthly income of Rs.
Between 3 lakh to 4 lakh are the most likely to invest in Mutual fund, than any other income group.
9%
19%
22%26%
15%
9%
INCOME
BELOW RS. 1 LAKH
BETWEEN 1 LAKH TO 2 LAKH
ABOVE RS. 5 LAKH.
Income (₹) No. of respondents Percentage
Below 1 lakh 9 9%
Between 1 lakh to 2 lakh 19 19%
Above ₹ 5 lakh. 9 9%
Total 100 100%

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6. Where do you invest your savings?
(A) Savings Bank ( )
(B) Fixed Deposit ( )
(C) Shares/Debentures ( )
(D) Gold/Silver Postal savings ( )
(E) Real Estate ( )
(F) Mutual Funds ( )
(G) Insurance ( )
(H) Others (Please Mention)_______________________________________ ( )
29%
23%
5%
7%
5%
20%
9%
2%
INVESTMENT SAVINGS BANK
FIXED DEPOSIT
SHARES/DEBENTURES
GOLD/SILVER POSTAL SAVINGS
REAL ESTATE
MUTUAL FUNDS
INSURANCE
OTHERS
Investment No. of respondents Percentage
Savings bank 29 29%
Fixed deposit 23 23%
Shares/debentures 5 5%
Gold/silver postal savings 7 7%
Real estate 5 5%
Mutual funds 20 20%
Insurance 9 9%
Others 2 2%
Total 100 100%

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Interpretation -From this above Pie Chart it can be clearly stated that 29% of the people like to
invest in saving account where return is comparatively less but risk is very low thus they invest
there savings in bank account . 23% of the people like to invest in Fixed deposits where risk is
low than the Savings account as well as return is also high. 20% of the people like to invest in
Mutual funds where risk and return is also high comparatively fixed deposits and saving account.
7. What are the factors to which you give priority when you invest
(A) Safety ( )
(B) High Return ( )
(C) Liquidity ( )
(D) Less Risk ( )
(E) Marketability ( )
Interpretation - As it can be clearly stated from the above Diagram that investors before
investing, the main criteria that they used to give more Preference is Low Risk. According to
them, if a scheme is low risk, it may or may not give a very good return, but still 30% of the
investors choose low risk as the option while investing in Mutual Funds. Then we see that
11%
19%
29%
30%
11%
PRIORITY SAFETY
HIGH RETURN
LIQUIDITY
LESS RISK
MARKETABILITY
Priority No. of respondents Percentage
Safety 11 11%
High return 19 19%
Liquidity 29 29%
Less risk 30 30%
Marketability 11 11%
Total 100 100%

44 | P a g e
29% of the investors take Liquidity as one of their most important criteria. 19% of the
investors take high return as one of their important factors. According to them, if there is
investment are in then we should opt for Post office and not mutual fund.
8. Do you know about Mutual Funds?
(A) Yes ( )
(B) No ( )
If yes, then a few words about mutual funds-
_________________________________________________________________________________
Interpretation - From The total lot of 100 people, 55 people are actually aware of the fact of
Mutual fund and are regular investors of Mutual Funds. 45 People were there who have just heard
the name or rather are just aware of the fact of existence of the word called Mutual Fund, but doesn’t
know anything else about Mutual Funds
.
9. Are you an investor in Mutual Funds?
(A) Yes ( )
(B) No. ( )
(If Yes, then Fill Question 10-17 ) (If No, then directly go to question No.18)
55%
45%
KNOW ABOUT MUTUAL FUND
YES
NO
Knowledge About Mutual
Fund
No. of respondents Percentage
Yes 55 55%
No 45 45%
Total 100 100%

45 | P a g e
Interpretation – Out of 100 customers only 65% invest their saving in mutual fund that means they
have trust in mutual fund and they take risk.
10. You have invested in which type of Mutual Fund Scheme
(A) Equity fund ( )
(B) Debt funds ( )
(C) Hybrid Funds ( )
65%
35%
INVEST IN MUTUAL FUND
YES NO
Invest in Mutual Fund No. of respondents Percentage
Yes 65 65%
No 35 35%
Total 100 100%
Type of Scheme No. of respondents Percentage
Equity Fund 32 49.23%
Debt Fund 20 30.77%
Hybrid Fund 13 20.00%
Total 65 100%

46 | P a g e
Interpretation - It can be clearly stated from the above Figure that 49% of the investors
like to invest in Equity Fund , as the investor feels that they are more comfortable to save
via Equity fund than the Hybrid and Debt Funds.
11. If Equity Funds then, in which category
(A) Diversified Equity Funds ( )
(B) Mid-Cap Funds ( )
(C) Sector Specific Funds ( )
(D) Tax Savings Funds ( )
Interpretation - Here, we find that investors of around 34% Invest their saving in sector specific
fund like real state, finance, etc..
49%
31%
20%
FUND SCHEME
EQUITY
DEBT
HYBRID
16%
28%
34%
22%
EQUTY FUND
DIVERSIFIED EQUITY FUNDS
MID-CAP FUNDS
SECTOR SPECIFIC FUNDS
TAX SAVINGS FUNDS
Equity Fund No. of respondents Percentage
Diversified equity funds 5 15.63%
Mid-cap funds 9 28.13%
Sector specific funds 11 34.38%
Tax savings funds 7 21.88%
Total 32 100%

47 | P a g e
12. If Debt Funds then, in which category
(A) Gilt Funds ( )
(B) Income Funds ( )
(C) MIPs ( )
(D) Short Term Plans (STPs) ( )
(E) Liquid Funds ( )
Interpretation - It can be clearly stated from the above Figure that 34% of the investors like to
invest in Income Fund , as the investor feels that they are more comfortable to save income fund.
While 27% of the investors find STPs.
15%
34%
9%
27%
15%
DEBT FUND
GILT FUNDS
INCOME FUNDS
MIPS
SHORT TERM PLANS (STPS)
LIQUID FUNDS
Debt Fund No. of respondents Percentage
Gilt funds 5 15.63%
Income funds 11 34.38%
MIPS 3 9.38%
Short term plans (STPs) 9 28.13%
Liquid funds 5 15.63%
Total 33 100%

48 | P a g e
13. How is your invest pattern :
(A) Monthly (SIP) ( )
(B) Once in Six Months ( )
(C) Once in a year ( )
(D) Very Rare ( )
Interpretation - It can be clearly stated from the above Figure that 38% of the investors like to
invest in Once in a Year, as the investor feels that they are more comfortable to save via once a year.
While 32% of the investors find SIP.
32%
22%
38%
8%
Investment Pattern
MONTHLY (SIP)
ONCE IN SIX MONTHS
ONCE IN A YEAR
VERY RARE
Pattern No. of respondents Percentage
Monthly (sip) 21 32.31%
Once in six months 14 21.54%
Once in a year 25 38.46%
Very rare 5 7.69%
Total 65 100%

49 | P a g e
14. Where do you gather information about the performance of different mutual fund
schemes?
(A) Financial Institutions ( )
(B) Brokers ( )
(C) Financial Consultants ( )
(D) TV Channels ( )
(E) Magazines ( )
(F) Internet ( )
Interpretation - Here we see that 20% Investor know about mutual funds from financial Institute
further that 19% Investor gather information from tv channels.
20%
16%
14%19%
12%
19%
SOURCE OF INFORMATION
FINANCIAL INSTITUTIONS
BROKERS
FINANCIAL CONSULTANTS
TV CHANNELS
MAGAZINES
INTERNET
Source of Information No. of respondents Percentage
Financial institutions 20 20.00%
Brokers 16 16.00%
Financial consultants 14 14.00%
Tv channels 19 19.00%
Magazines 12 12.00%
Internet 19 19.00%
Total 100 100%

50 | P a g e
15. Since how many years you are investing in Mutual Fund Schemes
(A) One year ( )
(B) Two Years ( )
(C) Three Years ( )
(D) Four Years ( )
(E) Five Years ( )
(F) More than five years ( )
11%
8%
23%
18%
26%
14%
INVESTMENT PERIOD
ONE YEAR
TWO YEARS
THREE YEARS
FOUR YEARS
FIVE YEARS
MORE THAN FIVE YEARS
Investment Period No. of respondents Percentage
ONE YEAR 7 10.77%
TWO YEARS 5 7.69%
THREE YEARS 15 23.08%
FOUR YEARS 12 18.46%
FIVE YEARS 17 26.15%
MORE THAN FIVE
YEARS
9
13.85%
Total 65 100%

51 | P a g e
Interpretation - It can be clearly stated from the above Figure that 26% of the investors
like to invest for 5 years While 23% of the investors invest for 3 years.
16. You invest in Mutual Fund Schemes because: It is a good investment instrument
(A) Its better to invest in Mutual funds rather than investing directly in shares ( )
(B) They give assured and consistent return ( )
(C) They provide high return with low risk. ( )
(D) Less calculation is required before investing when compared to share market ( )
(E) Very simple to invest & monitor fund performance on a regular basis. ( )
(F) Mutual Funds provide the benefit of cheap access to expensive stocks ( )
(G) Mutual funds diversify the risk of the investor by investing in a basket of assets ( )
(H) Professional fund managers manage them with in-depth research inputs ( )
Investment Reason
No. of
respondents
Percentage
Its better to invest in Mutual funds rather than investing directly in
shares
5 7.69%
They give assured and consistent return 9 13.85%
They provide high return with low risk. 7 10.77%
Less calculation is required before investing when compared to share
market
13 20.00%
Very simple to invest & monitor fund performance on a regular basis. 10 15.38%
Mutual Funds provide the benefit of cheap access to expensive stocks 8 12.31%
Mutual funds diversify the risk of the investor by investing in a basket
of assets
4 6.15%
Professional fund managers manage them with in-depth research
inputs
9 13.85%
Total 65 100%

52 | P a g e
Interpretation -- As it can be clearly stated from the above Diagram that investors before
investing, the main reason that Less calculation is required before investing when compared to
share market. According to them investor not required expertise knowledge for invest in
mutual funds.
17. Have you ever redeemed your Mutual Funds because of the below mentioned reasons
(A) Non Performance of Funds ( )
(B) Non Availability of good service from Mutual Fund company ( )
(C) Non availability of investment support / service ( )
(D) Lack of information about fund performance ( )
(E) Difficulty in monitoring fund performance ( )
(F) OtherReason________________________________________________________( )
8%
14%
11%
20%15%
12%
6%
14%
Investment Reason
ITS BETTER TO INVEST IN MUTUAL FUNDS
RATHER THAN INVESTING DIRECTLYIN SHARES
THEY GIVE ASSURED AND CONSISTENT RETURN
THEY PROVIDE HIGH RETURN WITH LOW RISK.
LESS CALCULATION IS REQUIRED BEFORE
INVESTING WHEN COMPARED TO SHARE
MARKET
VERY SIMPLE TO INVEST & MONITOR FUND
PERFORMANCE ON A REGULAR BASIS.
MUTUAL FUNDS PROVIDE THEBENEFIT OF
CHEAP ACCESS TO EXPENSIVE STOCKS
MUTUAL FUNDS DIVERSIFY THERISK OF THE
INVESTOR BY INVESTING IN A BASKET OF
ASSETS
PROFESSIONAL FUND MANAGERS MANAGE
THEM WITH IN-DEPTH RESEARCH INPUTS
Redemption Reason No. of respondents Percentage
Non Performance of Funds 6 9.23%
Non Availability of good service from Mutual Fund
company
7 10.77%

53 | P a g e
Interpretation -- As it can be clearly stated from the above Diagram that investors Invest in
mutual fund some time after they redeem their investment before expire most common reason
for redemption is non availability of investment support and second reason is lack of
information about fund performance .
18. You have not invested in mutual funds because:
(A) It’s not a lucrative investment instrument ( )
(B) No satisfactory return on investment when compared to other investment
Instruments. ( )
(C) No safety for funds invested ( )
(D) Risky investment instrument ( )
(E) No / Less Liquidity ( )
(F) No knowledge about how to invest ( )
(G) No knowledge about where to invest / investment centers ( )
(H) No Mutual Fund investors’ education & service center ( )
(I) It is related to share market, so it is very risky and the returns are not guaranteed ( )
9%
11%
29%
19%
20%
12%
REDEEMPTION REASON
NON PERFORMANCE OF FUNDS
NON AVAILABILITY OF GOOD
SERVICE FROM MUTUAL FUND
COMPANY
NON AVAILABILITY OF INVESTMENT
SUPPORT / SERVICE
LACK OF INFORMATION ABOUT
FUND PERFORMANCE
DIFFICULTY IN MONITORING FUND
PERFORMANCE
OTHERREASON
Non availability of investment support / service 19 29.23%
Lack of information about fund performance 12 18.46%
Difficulty in monitoring fund performance 13 20.00%
Other Reason 8 12.31%
Total 65 100%

54 | P a g e
6%
3%
17%
20%
6%
11%
6%
8%
23%
REASON FOR NOT INVESTMENT
ITS NOT A LUCRATIVE INVESTMENT INSTRUMENT
NO SATISFACTORY RETURN ON INVESTMENT
WHEN COMPARED TO OTHER INVESTMENT
INSTRUMENTS.
NO SAFETY FOR FUNDS INVESTED
RISKY INVESTMENT INSTRUMENT
NO / LESS LIQUIDITY
NO KNOWLEDGE ABOUT HOW TO INVEST
NO KNOWLEDGE ABOUT WHERE TO INVEST /
INVESTMENT CENTERS
NO MUTUAL FUND INVESTORS' EDUCATION &
SERVICE CENTER
Reason for Not Investment No. of
respondents
Percentage
It’s not a lucrative investment instrument 2 5.71%
No satisfactory return on investment when compared to other
investment instruments.
1 2.86%
No safety for funds invested 6 17.14%
Risky investment instrument 7 20.00%
No / Less Liquidity 2 5.71%
No knowledge about how to invest 4 11.43%
No knowledge about where to invest / investment centers 2 5.71%
No Mutual Fund investors' education & service center 3 8.57%
It is related to share market, so it is very risky and the returns
are not guaranteed
8 22.86%
Total 35 100%

55 | P a g e
Interpretation - It can be clearly stated from the above Figure that 23% of the People are not invest
in mutual funds due to It is related to share market, so it is very risky and the returns are not
guaranteed further reason is not invest in mutual is Risky investment instrument so people are not
interested in mutual funds.
 Chi-Square Test
Chi - Square test is applied to find out the significant relationship between the Group of age
and the investment preference.
Group of Age and Investment Preference
Investment Preference
Age Group
Recurring
Deposits
Mutual Funds Fixed Deposits Total
18-25 10 25 2 37
26-35 10 5 13 28
above 35 9 10 16 35
Total 29 40 31 100
Ho – There is no significant relationship between group of age and the investment preference
by investor.
Ha - There is significant relationship between group of age and the investment preference
by investor.
.

56 | P a g e
Observe Expected O-E (O-E)2 (O-E)2/E
10 10.73 -0.73 0.5329 0.05329
10 8.12 1.88 3.5344 0.35344
9 10.15 -1.15 1.3225 0.13225
25 14.8 10.2 104.04 10.4040
5 11.2 -6.2 38.44 3.844
10 14.00 -4.00 16.00 1.6000
2 11.47 -9.47 89.6809 8.96809
13 8.68 4.32 18.6624 1.86624
16 10.85 5.15 26.5225 2.65225
Total 29.9140
Calculated value : 29.914
Degree of freedom : 4
Table value : 9.488
Interpretation:- From the above analysis it was inferred that calculated value of Chi- Square
29.914 which is more than the table value of Chi-Square 9.488.
Hence it is significant and the null hypothesis is rejected. So there is significant relationship
between investors age and investment preference.

57 | P a g e
3.5 COMPARISON BETWEEN SIP AND RD OF VARIOUS BANKS
 SYSTEMATIC INVESTMENT PLAN
LARGE CAP CATEGORY:-
1. SBI BLUE CHIP FUND:-
Investment Objective: - To provide investors with opportunities for long-term growth in
capital through an active management of investments in a diversified basket of large cap equity
stocks.
Investment Strategy:-The scheme follows a blend of growth and value style of investing.
The scheme will follow a combination of top down and bottom-up approach to stock-picking and
choose companies across sectors. Large Cap Stocks are – 1st -100th company in terms of full
market capitalization.
Category Equity Large Cap
Asset(AUM) ₹ 20284.00 Cr as on 31st Jul 2018
Expense Ratio 2.35% as on 29th Aug 2018
NAV Growth ₹ 39.9979 as on 29th Aug 2018
Return Since Launch 11.69%
Launch Date Feb 14, 2006
Bench Mark S & P BSE 100
Risk Moderately High
Return Above Average
Type Open-ended
Performance (As on Aug 28, 2018)
YTD 1 Month 3 Month 1 Year 3 Year 5 Year 10 Year
Return 3.00 2.42 3.74 9.76 12.74 22.53 14.07
NIFTY 100 TRI 10.75 4.35 9.72 18.63 15.39 19.95 13.03
Category 9.23 4.14 8.93 16.90 13.66 18.91 11.69
Rank within Category 78 85 91 75 53 6 7
Number of funds in category 91 93 91 87 68 62 38

58 | P a g e
2. ICICI PRUDENTIAL FOCUSED BLUECHIP EQUITY FUND
Objective : It is an open-ended scheme that seeks to generate long0term capital appreciation
& income distribution to unit-holders from a portfolio that is invested in equity & equity related
securities of about 20 companies belonging to large cap domain & balance in debt & many market
instruments.,
Asset(AUM) ₹ 18,747Crore as on 31st Jul 2018
Expense Ratio 2.11% as on 31st Jul 2018
NAV Growth ₹ 43.21 as on 31st Jul 2018
Launch Date May 23, 2008
Bench Mark Nifty 50
Type Open-ended
Fund Manager Mr. Sankaran Naren/ Mr. Rajat Chandak
Return 5.75 4.62 7.03 14.49 14.79 20.57 16.44
NIFTY 100 TRI 10.75 4.35 9.72 18.63 15.39 19.95 13.03
Category 9.23 4.14 8.93 16.90 13.66 18.91 11.69

59 | P a g e
3. BIRLA SUNLIFE FRONTLINE EQUITY FUND :
Objective : An open-ended growth schemes with the objective of long term growth of capital
through a portfolio with a target allocation of 100% equity by aiming at being as diversified across
various industries & or Actors as its chosen bench mark index BSE 200.
Asset(AUM) ₹ 21,380 Crore as on 31st Jul 2018
Launch Date August 30, 2002
Type Open-ended
Fund Manager Mr. Mahesh Patil
YTD
1
Month
3
Month
1
Year
3
Year
5
Year
10
Year
Return 3.74 3.34 6.45 9.76 13.27 21.04 15.33
NIFTY 50 Total Return 12.78 4.22 10.56 20.03 15.11 18.77 12.13
Category 9.23 4.14 8.93 16.90 13.66 18.91 11.69

60 | P a g e
4. KOTAK 50 REGULAR PLAN:
Objective: To generate capital appreciation from a portfolio of predominantly equity &
equity related securities/ the portfolio comprise of large 50 companies which may go up to 59
companies but will not exceed 59 at any point in time.
Asset (AUM) ₹ 1424 Crore as on 31st Jul 2018
Launch Date Dec 29, 1998
Bench Mark Nifty 50
Type Open-ended
Fund Manager Mr. Harish Krishnan
Return 6.93 3.98 8.57 15.05 12.46 20.39 12.01
NIFTY 50 Total Return 12.78 4.22 10.56 20.03 15.11 18.77 12.13
Category 9.23 4.14 8.93 16.90 13.66 18.91 11.69

61 | P a g e
5. AXIS BLUECHIP FUND:
Objective: The scheme aims to generate long term capital growth by investing in a
diversified portfolio predominantly consisting of equity & equity related instruments of large cap
companies.
Asset (AUM) ₹ 2568 Crore as on 29th Aug 2018
NAV Growth ₹ 29.03 on 29th Aug 2018
Launch Date Jan 05,2010
Bench Mark NIFTY 50 Total Return
Type Open-ended
Performance (As on Aug28, 2018)
YTD 1-Month 3-Month 1-Year 3-Year 5-Year 10-Year
Return 14.43 1.75 9.38 23.85 15.43 19.90 -
NIFTY 50 Total Return 12.34 3.80 10.70 20.98 14.95 18.12 -
Category 8.92 3.76 9.16 17.79 13.43 18.24 -
Rank within Category 11 76 46 12 5 10 -
Number of funds in category 79 80 79 77 60 54 -

62 | P a g e
 LARGE CAP CATEGORYINTERPRETATION:-
From the data collected before conclusion drawn for which funds SIP gave better returns when
compared for 1 month, 3 months, 1 year, 3 year, 5 year & 10 years in large cap equity category as on
28th day of August 2018 is as follows:-
1 Month :-
COMPANIES SBI ICICI BIRLA KOTAK AXIS
RETURN 2.42 4.62 3.34 3.98 1.75
RANK IV I III II V
Therefore ICICI Prudential Focused Bluechip Fund gave superior return in one month as
compared to others.
3 Months :-
RETURN 3.74 7.03 6.45 8.57 9.38
RANK V III IV II I
Therefore Axis Bluechip Fund gave superior returns for tenure of 3 months as compared to others.
0
1
2
3
4
5
SBI ICICI BIRLA KOTAK AXIS
1 MONTH
Return
0
2
4
6
8
10
3 MONTHS
Return

63 | P a g e
1 Year :-
RETURN 9.76 14.49 9.76 15.05 23.85
RANK IV III IV II I
Therefore Axis Bluechip Fund gave superior returns for tenure of 1 year as compared to others.
3 Years :-
RETURN 12.74 14.79 13.27 12.46 15.43
RANK IV II III V I
Therefore Axis Bluechip Fund gave superior returns for a period of 3 years as compared to others.
0
5
10
15
20
25
30
1 YEAR
Return
0
5
10
15
20
3 YEARS
Return

64 | P a g e
5 Years :-
RETURN 22.53 20.57 21.04 20.90 19.90
RANK I IV II III V
Therefore SBI Blue Chip Fund gave superior returns for a period of 5 years as compared to other
10 Years :-
RETURN 14.07 20.57 15.33 12.01 -
RANK III I II IV
Therefore ICICI Prudential Focused Bluechip Fund gave superior returns for tenure of 10 years
as compared to others.
18
19
20
21
22
23
5 YEARS
Return
0
5
10
15
20
25
10 YEARS
Return

65 | P a g e
MULTI CAP CATEGORY
1. SBI MAGNUM MULTICAP FUND:-
Objective :- It provides investors with opportunity to invest in a diversified basket of equity
stocks spanning the entire market capitalization spectrum & in debt & money market instruments.
Performance (as on 29/08/2018)
Return 1.22 2.65 4.19 12.11 15.40 24.93 12.94
NIFTY 500 TRI 6.17 4.26 8.24 17.78 15.61 20.64 12.37
Category 1.91 3.18 5.54 12.96 13.60 22.34 14.15
Category Equity Multi cap
NAV Growth 49.3046 Rs. as on 29th Aug 2018
Return Since Launch 13.14 %
Launch Date Sep 29, 2005
Type Open-ended
Fund Manager Mr. Anup Upadhyay

66 | P a g e
2. ICICI PRUDENTIAL NIFTY NEXT 50 INDEX FUND
Objective :- The objective of the fund is to invest in companies whose securities are
included in Nifty Junior Index & to endeavor to achieve returns of above index as closely as
possible. It tracks only 90-95 % of index & keep 5-10% of net asset as cash balance to meet
redemption & liquidity.
Return -0.43 5.19 4.62 9.98 15.59 24.60 -
NIFTY Next 50 TRI 1.00 6.08 5.78 13.44 17.02 26.08 -
Category 8.92 3.76 9.16 17.79 13.43 18.24 -
Expense Ratio 0.85 % as on 29th Aug 2018
Launch Date July 25, 2010
Bench Mark Nifty Next 50
Type Open-ended

67 | P a g e
3. ADITYA BIRLA SUN LIFE EQUITY ADVANTAGE FUND:-
Objective: - An open-ended growth scheme with the objective to achieve long term growth
of capital at relatively moderate levels of risk through a diversified research based investment
approach.
Launch Date Feb 24, 1995
Return High
Type Open-ended
Fund Manager Mr. Satyabrata Mohanty
Return -1.11 3.19 7.25 6.61 14.79 26.08 14.32
NIFTY 200 TRI 8.39 4.28 9.32 19.02 15.47 20.04 12.27
Category 0.44 4.00 5.14 12.38 14.05 23.72 13.78

68 | P a g e
4. KOTAK STANDARD MULTICAP FUND:-
Objective: - The investment objective of the scheme is to generate long-term capital
appreciation from a portfolio of equity & equity related securities generally focused on a few
selected sectors.
Launch Date Sep 11, 2009
Bench Mark Nifty 200
Return High
Type Open-ended
Fund Manager Mr. Harsh Upadhyay
Return 6.36 3.23 8.76 13.81 16.00 24.57 -
NIFTY 200 TRI 8.39 4.28 9.32 19.02 15.47 20.04 -
Category 1.91 3.18 5.54 12.96 13.60 22.34 -

69 | P a g e
5. AXIS FOCUSED 25 FUND:-
Objective: - The scheme seeks to generate long term capital appreciation by investing in
concentrated portfolio of equity & equity related instruments of upto 25 companies, primarily in
companies among the top 200 in terms of market capitalisation.
Asset (NAV) ₹ 5499 Crore as on 29th Aug 2018
NAV Growth 29.86 Rs. as on 29th Aug 2018
Launch Date June 29, 2002
Bench Mark NIFTY 50
Return Below Average
Type Open-ended
Fund Manager Mr. Jinesh Gopani
Return 12.05 2.23 8.54 24.47 19.48 23.23 -
NIFTY 50 Total Return 12.34 3.80 10.70 20.98 14.95 18.12 -
Category 1.91 3.18 5.54 12.96 13.60 22.34 -

70 | P a g e
 MULTICAP CATEGORYINTERPRETATION:-
From the data collected before conclusion of which fund’s SIP Gave better returns when compared
for 1 month, 3 months, 1 year, 3 years, 5 years & 10 years in multi cap equity category as on 29th
day of August 2018 is as follows :-
1 Month :-
RETURN 2.65 5.19 3.19 3.23 2.23
RANK IV I III II V
Therefore ICICI Prudential Nifty Next 50 Index Fund gave superior returns in one month as
compared to others.
3 Months :-
RETURN 4.19 4.62 7.25 8.76 8.54
RANK V IV III I II
0
1
2
3
4
5
6
1 MONTH
RETURN
0
5
10
3 MONTHS
RETURN

71 | P a g e
Therefore Kotak Standard Multicap Fund gave superior returns in 3 month period as compared to
others.
1 Year :-
RETURN 12.11 9.98 6.61 13.81 24.47
RANK III IV V II I
Therefore Axis Focused 25 Fund gave superior returns for tenure of 1 year period as compared to
others.
3 Years :-
RETURN 15.40 15.59 14.79 16.00 19.48
RANK IV III V II I
Therefore Axis Focused 25 Fund gave superior returns for period of 3 years as compared to others.
0
5
10
15
20
25
30
1 YEAR
RETURN
0
5
10
15
20
25
3 YEARS
RETURN

72 | P a g e
5 Years :-
RETURN 24.93 24.60 26.08 24.57 23.23
RANK II III I IV V
Therefore Birla sunlife Advantage Fund gave superior returns for period of 5 years when
compared to other.
10 Years :-
RETURN 12.94 - 14.32 - -
RANK II I
23.5
24
24.5
25
25.5
26
26.5
SBI ICICI BIRLA KOTAK
5 YEARS
RETURN
0
5
10
15
20
10 YEARS
RETURN

73 | P a g e
Therefore Birla sunlife Advantage Fund gave superior returns for period of 10 years when
compared to others.
MID CAP CATEGORY
1. SBI MAGNUM MIDCAP FUND:-
Objective :- The provide investors with opportunity for long-term growth in capital along
with the liquidity of an open-ended scheme by investing predominantly in a well diversified basket
of equity stocks of midcap companies.
Return 10.43 4.41 0.62 2.79 9.51 27.82 14.34
NIFTY Midcap 150 TRI 3.74 5.68 5.12 15.77 18.91 28.86 16.17
Category 4.19 3.67 2.65 10.43 13.19 28.62 16.56
Category Equity Mid cap
Launch Date March 29, 2005
Bench Mark Nifty Mid small cap 400
Type Open-ended
Fund Manager Mr. Sohini Andani

74 | P a g e
2. ICICI PRUDENTIAL MID CAP FUND:
Objective : It is an open ended equity diversified scheme. The objective is to generate long
term capital appreciation by investing in diversified portfolio of stock with market capitalization
between 100 crore rs & 2500 crore rs.
Asset(AUM) ₹ 1535Crore as on 29th Aug 2018
Launch Date Oct 28, 2004
Bench Mark NIfty freefloat midcap 100
Return Average
Type Open ended
Fund Manager Mr. Mrinal Singh & Mr. Mittul Kalwadia
Return -7.54 1.71 -2.23 7.49 11.66 30.19 14.53
NIFTY Midcap 150 TRI -3.74 5.68 5.12 15.77 18.91 28.86 16.17
Category -4.19 3.67 2.65 10.43 13.19 28.62 16.56

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3. BIRLA SUNLIFE MID CAP FUND :
Objective : An open ended growth scheme with the objective to achive long term growth of
capital at controlled level of risk by investing primarily in mid cap stocks.
Asset(AUM) ₹2323 Crore as on 29th Aug 2018
Launch Date Oct 03, 2002
Bench Mark Nifty Mid small cap 100
Return Average
Type Open ended
Fund Manager Mr. Jayesh Gandhi
Fund -8.03 2.13 1.20 3.83 12.92 27.75 16.06
NIFTY Midcap 100 TRI -5.48 5.67 4.90 11.57 16.05 26.21 14.75
Category -4.19 3.67 2.65 10.43 13.19 28.62 16.56

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4. EQUITY KOTAK EMERGING SCHEME:
Objective: The investment objective of the scheme is to generate long term capital
appreciation from a portfolio of equity & equity related securities by investing predominantly in mid
& small cap companies.
Asset(AUM) ₹ 3327 Crore as on 29th Aug 2018
Launch Date March 30, 2007
Bench Mark S & P BSE Mid Small cap index
Type Open ended
Fund Manager Mr. Pankaj Tibrewal
Fund -4.52 3.46 0.91 10.80 15.55 32.31 15.98
NIFTY Midcap 100 TRI -5.48 5.67 4.90 11.57 16.05 26.21 14.75
Category -4.19 3.67 2.65 10.43 13.19 28.62 16.56

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5. AXIS MIDCAP FUND:
Objective : The scheme seeks to achieve long term capital appreciation by investing
predominantly in equity & equity related instruments of Mid Cap companies.
Asset(AUM) ₹ 1564 Crore as on 29th Aug 2018
Launch Date Feb 08,2011
Return Below Average
Type Open ended
Fund Manager Mr. Shreyash Devalkar
Fund 11.03 7.17 9.75 26.40 13.75 28.48 -
NIFTY Midcap 100 TRI -5.48 5.67 4.90 11.57 16.05 26.21 -
Category -4.19 3.67 2.65 10.43 13.19 28.62 -

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 MID CAP CATEGORYINTERPRETATION:
From the data collected before conclusion drawn for which funds SIP portrayed better returns when
compared for 1 month, 3 moths, 1year, 3 Years, 10 Years in mid cap equity category as on 29th day
of August 2018 is as follows :
1 Month :
RETURN 4.41 1.71 2.13 3.46 7.17
RANK II V IV III I
Therefore Axis Midcap Fund gave superior returns when compared for 1 month period from others.
3 Months :
RETURN 0.62 -2.23 1.20 0.91 9.75
RANK IV V II III I
0
2
4
6
8
1 MONTH
RETURN
-5
0
5
10
15
3 MONTHS
RETURN

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Therefore Axis Midcap Fund gave superior returns when compared for 3 months period from other
schemes.
1 Year :
RETURN 2.79 7.49 3.83 10.80 9.75
RANK V III IV I II
Therefore Kotak Emerging Equity Scheme gave superior returns for period of 1 year when
compared to other schemes.
3 Years :
RETURN 9.51 11.66 12.92 15.55 13.75
RANK V IV III I II
0
2
4
6
8
10
12
1 YEAR
RETURN

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Therefore Kotak Emerging Equity Schemes gave superior returns when compared for period of 3
years from other schemes.
5 Years :
RETURN 27.82 30.19 27.75 32.31 28.48
RANK IV II V I III
Therefore kotak Emerging Equity Scheme gave superior returns when compared for period of 5
years from other schemes.
10 Years :
RETURN 14.34 14.53 16.06 15.98 -
0
2
4
6
8
10
12
14
16
18
3 YEARS
RETURN
24
26
28
30
32
34
5 YEARS
RETURN

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RANK IV III I II
Therefore Birla Sunlife Mid Cap Fund gave superior returns for period of 10 years when compared
to others.
 RECURRING DEPOSIT
1. Kotak Mahindra Bank RD Interest Rates :
Tenure Interest Rate p.a. ( %) Senior Citizen Rates p.a. ( %)
6 Months 6.75% 7.25%
9 Months 7.00% 7.50%
12 Months 7.25% 7.75%
15 Months 7.25% 7.75%
18 Months 7.25% 7.75%
21 Months 7.25% 7.75%
24 Months 7.10% 7.60%
27 Months 7.10% 7.60%
30 Months 7.10% 7.60%
33 Months 7.10% 7.60%
3 years - less than 4 years 7.10% 7.60%
5 years - 10years 6.50% 7.00%
2. ICICI Bank RD Interest Rates :
Tenure Interest Rate p.a. ( %) Senior Citizen Rates p.a. ( %)
6 Months 6.00% 6.50%
0
5
10
15
20
10 YEARS
RETURN

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9 Months 6.50% 7.00%
12 Months 6.75% 7.25%
15 Months 7.00% 7.50%
18 Months 7.00% 7.50%
21 Months 7.00% 7.50%
24 Months 7.00% 7.50%
27 Months 7.25% 7.75%
30 Months 7.25% 7.75%
33 Months 7.25% 7.75%
36 Months 7.25% 7.75%
5 years - 10years 7.00% 7.50%
3. SBI RD Interest Rates :
Tenure For General For Senior Citizens
12 Months/1 Year 6.70% 7.20%
15 Months 6.70% 7.20%
24 Months 6.75% 7.25%
2 Years to Less than 3 Years 6.75% 7.25%
3 Years to less than 5 Years 6.80% 7.30%
5 Years to 10 Years 6.85% 7.35%
4. AXIS RD Interest Rates :
Tenure General Rates Senior Citizen Rates
14 months to 16 months 29 days 7.00% 7.65%
1 year 11 days to 13 months 29 days 7.10% 7.75%
9 months to 364 days 7.00% 7.25%
1 year 5 days to 1 year 10 days 7.40% 8.05%
5. PNB RD Interest Rates :

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Tenure
Regular RD
Interest Rates
(p.a)
Senior Citizen RD Interest
Rates (p.a)
180 days to 270 days 6.35% 6.85%
271 days to 364 days 6.35% 6.85%
1 year 6.60% 7.10%
Above 1 Year to 3 years 6.75% 7.25%
Above 3 years to 5 years 6.25% 6.75%
Above 5 years to 10 years 6.25% 6.75%
6. Post office RD Interest Rates:
Tenure Rates
Current rate 6.9%
Comparison of Recurring Deposits of different Banks
CONCLUSION : 1
When compared for RD interest rates among above given banks for general public, the rates offered
by Axis bank is higher than rates offered by other banks.
CONCLUSION : 2
When compared for RD interest rates among above given banks for senior citizens the rates offered
by Axis bank or higher than rates offered by other banks.
Therefore Axis bank RD interest rates are superior among all.
FINAL CONCLUSION
COMPARISON OF RECURRING DEPOSIT & SYSTEMATIC INVESTMENT PLAN
Which is Better Systematic Investment Plan Or Recurring Deposit
Factors Recurring Deposit (RD) Systematic Investment Plan (SIP)
Investment
Scheme
In a RD scheme, you will have to invest
in a deposit plan that will give you fixed
rate of returns. You can also opt for
flexible recurring deposit scheme if you
are looking for more flexibility.
In a SIP for mutual funds, you can choose between debt
or equity type of funds depending on your risk capability.

COMPARISON OF SIP OF DIFFERENT MUTUAL FUND COMPANIES & RECURRING DEPOSITS OF DIFFERENT BANKS

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