Introduction: Executive summary of the project

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From its inception the growth of mutual funds is very slow and it took really long
years to evolve the modern day mutual funds. Mutual Funds emerged for the first time in
Netherlands in the18th century and then got introduced to Switzerland, Scotland and then
to United States in the 19th century. The main motive behind mutual fund investments is to
deliver a form of diversified investment solution. Over the years the idea developed and
people received more and more choices of diversified investment portfolio through the
mutual funds. In India, the mutual fund concept emerged in 1960. The credit goes to UTI
for introducing the first mutual fund in India. Monetary Funds benefited a lot from the
mutual funds. Earlier investors used to invest directly in the stock market and many times
suffered from loss due to wrong speculation. But with the coming up of mutual funds, which
were handled by efficient fund managers, the investment risks were lowered by a great
extent. The diversified investment structure of mutual funds and diversified risk contributed
tremendously in the growth of mutual funds. With the passage of time many new mutual
funds emerged. Not only this, the methods and ways of selling these funds also changed
with time. But, the growth of mutual funds has not stopped. It is continuing to evolve to a
better future, where the investors will get newer opportunities.

In this era of globalization and competition, the success of an industry is determined

by the market performance of its stock. The investors too like to invest only in the stock of
those companies from which they can get maximum gains. In early years of growth of
mutual fund industry, investors were available only with few investment avenues to invest
their money. But with the passage of time a lot of opportunities are available to the investors
for investing their money in different investment channels. One such channel is to invest in
mutual funds along with effective financial management. Mutual funds have seen a
tremendous growth in the last few years. This is the result of combined efforts of the
brokerage houses and the fund managers who come to one‘s rescue by educating the
investors and making them aware of the mutual fund schemes by different modes of
promotion.

The currently common mode of community investments, mutual funds have taken time
in coming to India, while these have been a dominant feature for the last several years in the
investment markets in the west and in the country of their origin, in USA they have become
as ancient as money itself. Their slow coming into the country is due essentially to the Unit
Trust of India having dominated the scene as the only institution of its kind all this time.
After two decades of UTI monopoly some public sector organizations like LIC (1989), GIC
(1991), SBI (1987), Can Bank (1987), and India Bank (1990) have been permitted to set up
mutual funds. The important characteristics of mutual funds are:

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1. Investors purchase mutual fund shares from the fund itself (or through a broker for the
fund) instead of from other investors on a secondary market, such as the New York
Stock Exchange or Nasdaq Stock Market.
2. The price that investors pay for mutual fund shares is the fund's per share net asset value
(NAV) plus any shareholder fees that the fund imposes at the time of purchase (such as
sales loads)
3. Mutual funds generally create and sell new shares to accommodate new investors. In
other words, they sell their shares on a continuous basis, although some funds stop
selling when, for example, they become too large.
4. The investment portfolios of mutual funds typically are managed by separate entities
known as "investment advisers" that are registered with the SEC.

The present study analyses the mutual fund investments in relation to investors‘
behavior. Investors‘ opinion and perception has been studied relating to various issues like
type of mutual fund scheme, main objective behind investing in mutual fund scheme, role
of financial advisors and brokers, investors‘ opinion relating to factors that attract them to
invest in mutual funds, sources of information, deficiencies in the services provided by the
mutual fund managers, challenges before the Indian mutual fund industry etc. This study is
very important in order to judge the investors‘ behavior in a market like India, where the
competition increases day by day due to the entry of large number of players with different
financial strengths and strategies.

Company Profile: Aditya Birla Sun Life Asset

Management Company Ltd.

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 Aditya Birla Sun Life Asset Management Company Ltd. (BSLAMC), is a joint
venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada.
The joint venture brings together the Aditya Birla Group‘s experience in the Indian market
and Sun Life‘s global experience.
Established in 1994, Birla Sun Life Mutual Fund has emerged as one of India‘s leading
flagshipsof Mutual Funds business managing assets of a large investor base.It‘s solutions
offer a range of investment options, including diversified and sector specific equity
schemes, fund or fund schemes, hybrid or monthly income funds, a wide range of debt and
treasury products and offshore funds.
Birla Sun Life Asset Management Company has one of the largest team of research analysts
inthe industry, dedicated to tracking down the best companies to invest in. BSLAMC
strives to provide transparent, ethical and research-based investments and wealth
management services.

It‘s the 3rd largest assets management company in India by domestic AAUM as
published by AMFI for the quarter ended March 2018 and as one of the Top 5 Fund
Managers in India (excl. LIC).

Aditya Birla Capital Limited (ABCL) is one of the largest financial services players
in India.Formerly known as Aditya Birla Financial Services Limited, ABCL is the holding
company of all the financial services businesses of the Aditya Birla Group. With a strong
presence across the life insurance, asset management, private equity, corporate lending,
structured finance, project finance, general insurance broking, wealth management, equity,
currency and commodity broking, online personal finance management, housing finance,
pension fund management, health insurance and asset reconstruction business, ABCL is

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 committed to serving the end-to-end financial services needs of its retail and corporate
customers under a unified brand — Aditya Birla Capital.

Subsidiaries:
• Aditya Birla Money
• Aditya Birla Sun Life Asset Management Company
• Aditya Birla Finance Limited
• Aditya Birla Sun Life Insurance
• Aditya Birla Health Insurance Co. Ltd.
• Aditya Birla Housing Finance Limited
• Aditya Birla Insurance Brokers Limited
• Aditya Birla ARC Limited
• Aditya Birla Money Insurance Advisory Service
• Aditya Birla Sun Life Trustee Company Pvt. Ltd.
• Aditya Birla Financial Services Private Limited
• Aditya Birla Stressed Asset AMC Private Limited
• Aditya Birla Trustee Company Private Limited

Through various subsidiaries, Aditya Birla Capital is in the business of life insurance,
asset management, private equity, corporate finance, structured finance,
insurance broking, wealth management, equity broking, currency broking,
commodity broking, financial advisory services, housing finance, pension fund
management and health insurance.

Heritage
During past one decade since its incorporation, the Company has come a long way to
become one of the largest financial services players in India. Year 2017 marks a milestone,
with the Company becoming a pure play listed holding company of all the financial services
businesses of the Aditya Birla Group.

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To mark this new phase in its journey, and in line with its new unified brand identity, the
Company was rechristened as „Aditya Birla Capital Limited‟ in June 2017. The synopsis
of its journey over past 10 years from 2007-2017 is as follows:

• From 5 business lines to a well-diversified portfolio of 12 business lines

• Aggregate AUM1 has grown 10 times to Rs. 2,463 billion
• Lending book (including Housing Finance) has grown 65 times to Rs. 388 billion
• Aggregate2 revenues have grown 6 times to Rs. 106 billion
• From Investment phase to aggregate2 earnings before tax of Rs. 11.5 billion

Aditya Birla
Group

It‘s the parent company ofAditya Birla Capital, a USD 40 billion Indian multinational in the
league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees,
belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across the
globe. About 50 percent of its revenues flow from its overseas operations. The Aditya Birla
Group is a dominant player in all its areas of operations. The group has strategic joint
ventures with global majors such as Sun Life (Canada), AT&T (USA), the TATA Group
and NGK Insulators (Japan). For more information on the Aditya Birla Group, please visit
www.adityabirla.com.

The Aditya Birla Group has been adjudged the best employer in India and among the top 20
in Asia by the Hewitt-Economic Times and Wall Street Journal Study 2007. The origins of
the group lie in the conglomerate once held by one of India's foremost industrialists Mr.
Ghanshyam Das Birla.

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Sun Life Financial Inc.

It is a leading international financial services organization providing a diverse range of

wealth accumulation and protection products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial Inc. and its partners today have operations
in key markets worldwide, including Canada, USA, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, China and Bermuda.

Vision & Mission:

Vision & Values

"To be a leader and role model in a broad-based and integrated financial services
business."

The 4 pillars of our vision that will help us achieve it are:

• To be a leader – we are committed to being a leader in all facets of our businesses,

rather than being just another participant in this race.

• To be a role model – we will not become leaders by cutting corners or making

compromises. Whatever we do, we will strive to be the best in class. And if we are the
best, then our customer will have no reason to go elsewhere – therefore our leadership
is assured, on pure merit.

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• To be a broad-based player – we are committed to meeting all the felt and unfelt
needs of our target customer. And thereby, we can retain him or her across their needs
and life-stages.

• We aim to be an integrated player –we believe that this approach gives us a

competitive edge through sharing of best practices, deriving cross – business synergies
& providing talent pool with world of opportunity to grow.

Mission

• Achieving superior and consistent investment results.

• Creating a conducive environment to hone and retain talent.

• Providing customer delight.

• Institutionalizing system-approach in all aspects of functioning.

• Upholding highest standards of ethical values at all times.

Achievements:
• In pursuit of leadership vision o Among the Top 5 Private Diversified NBFCs in

India o One of the largest Private Life Insurance Companies in India o

One of the largest Asset Management Companies in India

o One of the largest General Insurance Brokers in the country

In pursuit of desire to be a role model o A leading non-bank financial services player

with a strong focus on quality of growth o Renowned for risk management, people
practices, sales management, investor education, product innovation & fund management
capabilities

o Among the best 3 financial services players to work for [As per a study by Great Place
to Work Institute, 2016]

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 Have continued to build a Broad based & Integrated financial services business o
Continue to be one of the few players in the industry with a diversified portfolio that allows
us to meet almost any customer need across the entire spectrum of his / her lifecycle o
Companies integrated play has helped us gain a competitive edge by allowing us to share
best practices, derive cross-business synergies & provide our talent pool an opportunity to
grow their career through cross-functional and cross-sectoral experience o Companies
distributors and partners see tremendous value in association with our businesses o Are
successfully expanding the market for our offerings, along with our market share in each
of our businesses

Milestones:

The company is a subsidiary of Grasim Industries and manages assets worth ₹2.46 trillion
(US$36 billion) and had over 12,000 employees as of March, 2017.

1986, Aditya Birla Group got into the financial service business with a non-bankfinancial
institution called Birla Growth Fund. later renamed it as Birla Global Finance Limited.

1994,Aditya Birla Group set up Birla Sun Life Asset Management to enter the mutual fund
business as an equal joint venture with Sun Life Financial of Canada.

2001, Birla Sun Life Insurance Company Limited was founded as a joint venture between
Aditya Birla Group and Sun Life Financial of Canada with Aditya Birla Nuvo (then Indian
Rayon) and Birla Global Finance together holding 74% of the company's equity shares and
Sun Life Financial holding 26%.
As of 2016, the company had approximately 400 branches across India and approximately
57,000 agents.

2005, the group decided to consolidate its business and as part of this exercise, it merged
Birla Global Finance Limited into Aditya Birla Nuvo. At the time of the merger, Birla
Global Finance had assets worth approximately INR160 billion under its management.

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2007, Aditya Birla Capital (incorporated as Aditya Birla Financial Services Limited as a
100% subsidiary of Aditya Birla Nuvo) subsequently became the holding company for
financial service businesses of the group.

2009, Aditya Birla Capital acquired a controlling stake Apollo Sindhoori Capital
Investments, a securities broking firm. The company was later renamed Aditya Birla Money.

2012, Company launched MyUniverse, an online personal finance management portal.

2014, the mutual fund crossed INR 1 trillion in assets under its management. It became the
fourth largest mutual fund in India. In the same year, Birla Sun Life Mutual Fund bought
out ING Mutual Fund, the Indian mutual fund business of ING Group. In 2017, the
company added the prefix "Aditya" and became Aditya Birla Sun Life Mutual Fund.

2016, Aditya Birla Capital launched Aditya Birla Health Insurance Company, a
standalone health insurance provider in India. The company is a joint venture with Aditya
Birla Capital holding 51% of the company and MMI Holdings of South Africa holding the
remaining 49%. As of 2017, the company had 60 branches spread across 34 cities in India.

Sun Life Financial (India) Insurance Investment Inc. increased its stake in Aditya
Birla Sun Life Insurance Company Limited, from 26% to 49%.

2017, Aditya Birla Financial Services was renamed Aditya Birla Capital.

2018, became the 3rd largest assets management company in India by domestic AAUM as
published by AMFI for the quarter ended March 2018 and as one of the Top 5 Fund
Managers in India (excl. LIC).

Products offered:
Mutual Fund Schemes offered by Aditya Birla Sun Life AMC:

 Savings Solution:
1. Aditya Birla Sun Life Savings Fund (Debt – Ultra Short Duration)

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2. Aditya Birla Sun Life Corporate Bond Fund
3. Aditya Birla Sun Life Medium Term Plan
4. Aditya Birla Sun Life Credit Risk Fund
5. Aditya Birla Sun Life Low Duration Fund
6. Aditya Birla Sun Life Money Manager Fund (Money Market)
7. Aditya Birla Sun Life Dynamic Bond Fund
8. Aditya Birla Sun Life Floating Rate Fund (Floater)
9. Aditya Birla Sun Life Banking & PSU Debt Fund
10. Aditya Birla Sun Life Short Term Opportunities Fund
11. Aditya Birla Sun Life Income Fund (Medium to Long Term)
12. Aditya Birla Sun Life Government Securities Fund (Gilt)

 Income Solution:
1. Aditya Birla Sun Life Equity Hybrid ‘95 Fund (Aggressive Hybrid)
2. Aditya Birla Sun Life Balanced Advantage Fund (Balanced Advantage)
3. Aditya Birla Sun Life Regular Savings Fund (Conservative Hybrid)

 Wealth Creation:
1. Aditya Birla Sun Life Frontline Equity (Large Cap)
2. Aditya Birla Sun Life Equity Fund (Multi Cap)
3. Aditya Birla Sun Life Equity Advantage Fund (Large & Mid Cap)
4. Aditya Birla Sun Life Focused Equity Fund
5. Aditya Birla Sun Life Pure Value Fund
6. Aditya Birla Sun Life Arbitrage Fund
7. Aditya Birla Sun Life MNC Fund (Thematic)
8. Aditya Birla Sun Life Midcap Fund
9. Aditya Birla Sun Life Small Cap Fund
10. Aditya Birla Sun Life Banking & Financial Services Fund (Sectoral)
11. Aditya Birla Sun Life Equity Savings Fund (Balanced Advantage)
12. Aditya Birla Sun Life Dividend Yield Fund
13. Aditya Birla Sun Life India GenNext Fund (Thematic)
14. Aditya Birla Sun Life Manufacturing Equity (Thematic)
15. Aditya Birla Sun Life Infrastructure Fund (Sectoral)

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16. Aditya Birla Sun Life Digital India Fund (Thematic)
17. Aditya Birla Sun Life International Equity Fund – Plan B (Thematic)
18. Aditya Birla Sun Life International Equity Fund – Plan A (Thematic)
19. Aditya Birla Sun Life Commodities Equity Fund – Global Agri Plan (Sectoral)

 Tax Solution:
1. Aditya Birla Sun Life Tax Relief 96 fund (Equity – ELSS)

The Present:
Having total assets under management (AUM) of over Rs. 2500 billion for quarter end June
2018, ABSLAMC is the third largest fund house in India based on domestic average AUM
as published by the Association of mutual Funds of India (AMFI). The wide range of product
as well as structured asset classes and sound investment performance has helped the
company garner around 6.4 million investor folios as of 30th June 2018.

With a pan India presence across 247 locations, ABSLMF is committed to deepening
mutual fund penetration in the country. It has introduced user-friendly services and
conveniences which simplify mutual fund processes with digitalization for both – investors
as well as distribution partners.

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 INTRODUCTION TO TOPIC

“Customer Satisfaction with Aditya Birla Sun Life Mutual

Fund AMC”

The customer satisfaction is the relationship between the customer expectations and the
product‘s perceived performance. If the product matches the expectations, the customer is
satisfied, if it exceeds, the customer is highly satisfied.

Customer satisfaction has become increasingly important, as more firms look at whether all
attempts to improve quality, price, and service of the product and generate sufficient sales and
profit.

Company should examine theCustomer expectation and preferences, how well the firm is
meeting those expectations. For measuring the customer satisfaction, company should use the
tools like suggestion and findings systems, Survey, customer analysis, Precaution in measuring
customer satisfaction and Ghost shopping.

Investment is a commitment of funds made in the expectation of some positive return. If the
investment is properly undertaken, the returns will match with the risk the investor assumes.
Investment goals vary from person to person, business to business. While some want security,
others give more weightage to returns alone.

There are various types of investments options in Mutual Funds such as Equity oriented funds,
Debt oriented funds and a Hybrid option. As far as the returns are high the risk involved is also
more. A concept, which balances the risk and returns, is mutual funds.

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MUTUAL FUNDS:
What are mutual funds?

A mutual fund is a pool of money managed by a professional Fund Manager.

It is a trust that collects money from a number of investors who share a common investment
objective and invests the same in equities, bonds, money market instruments and/or other
securities. And the income / gains generated from this collective investment is distributed
proportionately amongst the investors after deducting applicable expenses and levies, by
calculating a scheme‘s ―Net Asset Value‖ or NAV. Simply put, the money pooled in by a
large number of investors is what makes up a Mutual Fund.

Mutual funds are ideal for investors who either lack large sums for investment, or for those
who neither have the inclination nor the time to research the market, yet want to grow their
wealth. The money collected in mutual funds is invested by professional fund managers in
line with the scheme‘s stated objective. In return, the fund house charges a small fee which is
deducted from the investment. The fees charged by mutual funds are regulated and are subject
to certain limits specified by the Securities and Exchange Board of India (SEBI).

India has one of the highest savings rate globally. This penchant for wealth creation makes it
necessary for Indian investors to look beyond the traditionally favoured bank FDs and gold

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towards mutual funds. However, lack of awareness has made mutual funds a less preferred
investment avenue.

Mutual funds offer multiple product choices for investment across the financial spectrum. As
investment goals vary – post-retirement expenses, money for children‘s education or marriage,
house purchase, etc. – the products required to achieve these goals vary too. The Indian mutual
fund industry offers a plethora of schemes and caters to all types of investor needs.

The flow chart below describes broadly the working of a mutual fund:

Organization of Mutual Funds:

There are many entities involved and the diagram below illustrates the organizational set up
of a mutual fund:

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The History of Indian Mutual Funds:
The mutual fund industry in India started in 1963 with the formation of Unit Trust of India, at
the initiative of the Government of India and Reserve Bank. The history of mutual funds in
India can be broadly divided into four distinct phases:

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 Mutual Funds)

1987 marked the entry of non- UTI, public sector mutual funds set up by public sector banks
and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India
(GIC). SBI Mutual Fund was the first non- UTI Mutual Fund established in June 1987
followed by Canra Bank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug

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89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund
(Oct 92). LIC established its mutual fund in June 1989 while GIC had set up its mutual fund
in December 1990.

At the end of 1993, the mutual fund industry had assets under management of Rs.47,004
crores.

Third Phase – 1993-2003 (Entry of Private Sector Mutual 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 – April 2014

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated
into two separate entities. One is the Specified Undertaking of the Unit Trust of India (SUUTI)

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with assets under management of Rs.29,835 crores as at the end of January 2003, representing
broadly, the assets of US 64 scheme, assured return and certain other schemes. 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 2000 more than Rs.76,000 crores of assets under
management 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.

Following the global melt-down in the year 2009, securities markets all over the world had
tanked and so was the case in India. Most investors who had entered the capital market during
the peak, had lost money and their faith in MF products was shaken greatly. The abolition of
Entry Load by SEBI, coupled with the after-effects of the global financial crisis, deepened the
adverse impact on the Indian MF Industry, which struggled to recover and remodel itself for
over two years, in an attempt to maintain its economic viability which is evident from the
sluggish growth in MF Industry AUM between 2010 to 2013.

Fifth (current) Phase – since May 2014

Taking cognizance of the lack of penetration of MFs, especially in tier II and tier III cities,
and the need for greater alignment of the interest of various stakeholders, SEBI introduced
several progressive measures in September 2012 to "re-energize" the Indian Mutual Fund
industry and increase MFs‘ penetration.

In due course, the measures did succeed in reversing the negative trend that had set in after
the global melt-down and improved significantly after the new Government was formed at the
Center.

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Since May 2014, the Industry has witnessed steady inflows and increase in the AUM as well
as the number of investor folios (accounts).

• The Industry‘s AUM crossed the milestone of ₹10 Trillion (₹10 Lakh Crore) for the
first time as on 31st May 2014 and in a short span of two years the AUM size has
crossed ₹15 lakh crore in July 2016.

• The overall size of the Indian MF Industry has grown from ₹ 3.26 trillion as on 31st
March 2007 to ₹ 15.63 trillion as on 31st August 2016, the highest AUM ever and a
five-fold increase in a span of less than 10 years !!

• In fact, the MF Industry has more doubled its AUM in the last 4 years from ₹ 5.87
trillion as on 31st March, 2012 to ₹ 12.33 trillion as on 31st March, 2016 and further
grown to ₹ 15.63 trillion as on 31st August 2016.
• The no. of investor folios has gone up from 3.95 crore folios as on 31-03-2014 to
4.98 crore as on 31-08-2016.
• On an average 3.38 lakh new folios are added every month in the last 2 years since Jun
2014.

The growth in the size of the Industry has been possible due to the twin effects of the regulatory
measures taken by SEBI in re-energizing the MF Industry in September 2012 and the support
from mutual fund distributors in expanding the retail base.

MF Distributors have been providing the much needed last mile connect with investors,
particularly in smaller towns and this is not limited to just enabling investors to invest in
appropriate schemes, but also in helping investors stay on course through bouts of market
volatility and thus experience the benefit of investing in mutual funds.

In fact, even though FY 2015-16 was not a very good year for the Indian securities market,
the MF Industry witnessed steady positive net inflows month after month, even when the

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FIIs were pulling out in a big way. This was largely because of the ‗hand-holding‘ of the
investors by the MF distributors and convincing them to stay invested and/or invest at lower
NAVs when the market had fallen.

MF distributors have also had a major role in popularizing Systematic Investment Plans (SIP)
over the years. In April 2016, the no. of SIP accounts has crossed 1 crore mark and currently
each month retail investors contribute around ₹3,500 crores via SIPs.

The graph indicates the growth of assets over the last 10 years.

Types of Mutual Funds:

Wide variety of mutual funds schemes exists to cater to the needs such as financial position,
risk tolerance and return expectations etc.Mutual funds are favored globally for the variety of
investment options they offer. There is something for every profile and preference. The table
below gives an overview into the existing types of schemes in the industry:

1. By Structure:
a. Open – Ended Schemes: An open-end fund is a mutual fund scheme that is
available for subscription and redemption on every business throughout the
year, (akin to a savings bank account, wherein one may deposit and withdraw

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 money every day). An open ended scheme is perpetual and does not have any
maturity date.
b. Close – Ended Schemes: A closed-end fund is open for subscription only
during the initial offer period and has a specified tenor and fixed maturity date
(akin to a fixed term deposit). Units of Closed-end funds can be redeemed only
on maturity (i.e., pre-mature redemption is not permitted). Hence, the Units of
a closed-end fund are compulsorily listed on a stock exchange after the new
fund offer, and are traded on the stock exchange just like other stocks, so that
investors seeking to exit the scheme before maturity may sell their Units on the
exchange.

c. Interval Schemes:Interval fund is a mutual fund scheme that combines the

features of open-ended and closed-ended schemes, wherein the fund is open
for subscription and redemption only during specified transaction periods
(STPs) at pre-determined intervals. In other words, Interval funds allow
redemption of Units only during STPs. Thus between two STPs they are akin
to closed-ended schemes and therefore, compulsorily listed on Stock
Exchanges. However, unlike typical closed-ended funds, interval funds do not
have a maturity date and hence open-ended in nature. Hence, one may remain
invested in an Interval Fund as long as one wishes to like any open ended
schemes. Hence, in a sense, interval funds are akin to Fixed Maturity Plans
(FMPs) with roll-over facility, as they allow roll over of investments from one
specified period to another.

Interval funds are typically debt oriented products, but may invest in equities
as well as per the scheme‘s investment objective and asset allocation specified
in the Scheme Information Document.

Interval funds are taxed like any other mutual fund, depending on whether the
underlying portfolio is pre-dominantly invested in equities or debt securities.
If the fund invests 65% or more of its corpus in debt securities, it is taxed like
a non-equity fund. Likewise, if the fund invests 65% or more in equities, it is
taxed like an equity fund.

2. By Investment Objective:

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 a. Growth/Equity Schemes:An equity fund is a mutual fund scheme that invests
predominantly in equity stocks.
• In the Indian context, as per current SEBI Mutual Fund Regulations, an equity mutual
fund scheme must invest at least 65% of the scheme‘s assets in equities and equity
related instruments.
• An Equity Fund can be actively managed or passively managed. Index funds and ETFs
are passively managed.
• Equity mutual funds are principally categorized according to company size, the
investment style of the holdings in the portfolio and geography.

• The size of an equity fund is determined by a market capitalization, while the

investment style, reflected in the fund's stock holdings, is also used to categorize equity
mutual funds.

There are different types of equity mutual fund schemes and each offers a different type of
underlying portfolio that have different levels of market risk:

• Large Cap Equity Funds invest a large portion of their corpus in companies with
large market capitalization are called large-cap funds. This type of fund is known to
offer stability and sustainable returns, over a period of time.
Large Cap companies are generally very stable and dominate their industry.
Large-cap stocks tend to hold up better in recessions, but they also tend to
underperform small-cap stocks when the economy emerges from a recession. Largecap
tend to be less volatile than mid-cap and small-cap stocks and are therefore considered
less risky.
• Mid-Cap Equity Funds invest in stocks of mid-size companies, which are still
considered developing companies. Mid-cap stocks tend to be riskier than large-cap
stocks but less risky than small-cap stocks. Mid-cap stocks, however, tend to offer
more growth potential than large-cap stocks.
• Small Cap Funds invest in stocks of smaller-sized companies. Small cap is a term
used to classify companies with a relatively small market capitalization. However, the
definition of small cap can vary among market intermediaries, but it is generally
regarded as a company with a market capitalization of less than ₹100 crores. Many
small caps are young companies with significant growth potential. However, the risk
of failure is greater with small-cap stocks than with large-cap and mid-cap stocks. As

Page | 23
 a result, small-cap stocks tend to be the more volatile (and therefore riskier) than large-
cap and mid-cap stocks.
• The smallest stocks of the small caps are called micro-cap stocks. While the
opportunity for these companies to experience extreme growth is great, the risk to lose
a large amount of money is also possible
• Multi Cap Equity Funds or Diversified Equity Funds invests in stocks of companies
across the stock market regardless of size and sector. These funds provide the benefit
of diversification by investing in companies spread across sectors and market
capitalization. They are generally meant for investors who seek exposure

Page | 24
across the market and do not want to be restricted to any particular sector. They invest
in companies across different market caps and hence reduce the amount of risk in the
fund. Diversification helps prevent events that could affect a single sector for affecting
the fund, and hence reduce risk.
Market capitalization (commonly known as market cap) is calculated by multiplying a
company‘s outstanding shares by its stock price per share. A
company‘s stock price by itself does not tell much about the total value or size of a
company; a company whose stock price is say ₹500 is not necessarily worth more than
a company whose stock price is say, ₹250. For example, a company with a stock price
of ₹500 and 10 million shares outstanding (a market cap of ₹5 billion) is actually
smaller in size than a company with a stock price of ₹250 and 50 million shares
outstanding (a market cap of ₹12.5 billion).
Thematic Equity Funds: These funds invest in securities of specific sectors such as
Information Technology, Banking, Service and pharma sector etc., which is specified
in their scheme information documents. So, the performance of these schemes depends
on the performance of the respective sector. These funds may give higher returns, but
they also come with increased risks. Investing in equity mutual funds comes at slightly
higher risk as compared to debt mutual funds, but they also give your money a chance
to earn higher returns.

b. Income/Debt Schemes:A debt fund is a mutual fund scheme that invests in

fixed income instruments, such as Corporate and Government Bonds,
corporate debt securities, and money market instruments etc. that offer capital
appreciation. Debt funds are also referred to as Income Funds or Bond Funds.

Debt funds are ideal for investors who want regular income, but are risk-averse. Debt
funds invest in either listed or unlisted debt instruments, such as Corporate and
Government Bonds at a certain price and later sell them at a margin. The difference
between the cost and sale price accounts for the appreciation or depreciation in the
fund‘s net asset value (NAV). Debt funds also receive periodic interest from the
underlying debt instruments in which they invest. In terms of return, debt funds that
earn regular interest from the fixed income instruments during the fund‘s tenure are
similar to bank fixed deposits that earn interest. This interest income gets added to a
debt fund on a daily basis. If the interest payment is received, say, once every year, it

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Page | 25

Page | 27
 is divided by 365 and the debt fund‘s NAV goes up daily by this small amount. Thus,
a debt scheme‘s NAV also depends on the interest rates of its underlying assets and
also on any upgrade or downgrade in the credit rating of its holdings.

A few major advantages of investing in debt funds are:

• low cost structure

• stable returns
• high liquidity
• reasonable safety
• Debt funds also score on post-tax return.

Dividends from debt funds are exempt from tax in the hands of investors. The mutual
fund, however, has to pay a Dividend Distribution Tax, which is currently 28.325 per cent
in case of individuals or Hindu undivided families. While long-term capital gains from
debt funds are taxed at 10 per cent without indexation and 20 per cent with indexation,
short-term capital gains taxes are levied according to the income-tax bracket one belongs
to.

Thus, debt funds can be a good alternative to investors for achieving their financial goals if
they do not intend to bear risk involved in equity investments.

c. Money Market Schemes: Savings bank deposits have been the retail
investors‘ preferred investment option to park surplus cash. Most investors
regard these as the only avenue while some believe parking surplus cash
elsewhere can erode their capital and does not provide liquidity. CRISIL‘s
recent study draws attention to a more attractive option – Liquid Fund / Money
Market Mutual Funds. The analysis underlines that surplus cash invested in
money market mutual funds earns high post-tax returns with a reasonable
degree of safety of the principal invested and liquidity.
d. Balanced Schemes:A balanced fund combines equity stock component, a
bond component and sometimes a money market component in a single
portfolio. Generally, these hybrid funds stick to a relatively fixed mix of stocks
and bonds that reflects either a moderate, or higher equity, component, or
conservative, or higher fixed-income, component orientation.

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 These funds invest in a mix of equities and debt, giving the investor the best of
both worlds. Balanced funds gain from a healthy dose of equities but the debt
portion fortifies them against any downturn.

Balanced funds are suitable for a medium-term horizon and are ideal for
investors who are looking for a mixture of safety, income and modest capital
appreciation. The amounts this type of mutual fund invests into each asset class
usually must remain within a set minimum and maximum.

Although they are in the "asset allocation" family, balanced fund portfolios do
not materially change their asset mix. This is unlike life-cycle, target-date and
actively managed asset-allocation funds, which make changes in response to
an investor's changing risk-return appetite and age or overall investment market
conditions.

3. Other Schemes:
a. Tax Saving Schemes:Equity-Linked Savings Scheme (ELSS) is an equity
mutual fund investment that invests at least 80 per cent of its assets in equity and
equity-related instruments. ELSS can be open-ended or close ended. Investments
in an ELSS qualify for tax deductions under Section 80C of the Income Tax Act
within the overall limit of ₹1.5 lakh. The amount you invest in ELSS is deducted
from your taxable income, which helps you lower the amount of income tax you
are liable to pay. Investments in ELSS are subject to a three-year lock-in period
and the returns from the scheme, i.e. dividends and capital gains, are tax-free
b. Special Schemes
i. Index Schemes
ii. Sector Specific Schemes

Advantages & Disadvantages of Mutual Fund

The advantages of investing in a Mutual Fund are:

1. Professional Management
2. Diversification
3. Convenient Administration
4. Return Potential
5. Low Costs
6. Liquidity
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 7. Transparency
8. Flexibility
9. Choice of schemes
10. Tax benefits
11. Well regulated

The disadvantages of investing in a Mutual Fund are:

1. Cost control not in hands of an investor

2. Mutual Funds might have hidden fees
3. Poor sales charges
4. High expense ratios
5. Poor trade execution
6. High capital gains distribution (tax inefficiency)

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 RESEARCH METHODOLOGY

Research in Common parlance refers to search for Knowledge. It‘s a scientific and systematic
search for pertinent information on specific topic. Research is an art of Scientific
investigation its mean Systematized effort to gain new Knowledge.

According to Clifford woody ―Research Comprises defining and redefining problem

formulating hypothesis or suggested solution Collecting, Organizing and evaluating data
making deductions and reaching Conclusion at Carefully testing the Conclusion to determine
whether they fit the formulating hypothesis.

Methodology of the study:

This section describes the overall aspect of the research strategy used in the study and explains
how data collections were selected. It also focuses on reliability and the validity of study at
the end.

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A market research was performed to find out the satisfaction level and behavior of the
investorsinvested in ABSL mutual funds i.e. reasons behind their investments and how they
invest.

Thus, a questionnaire was devised using google forms to fetch the above mentioned
information from the investors. Maximum no. of questions in the questionnaire were objective
in nature which helped the people to fill it with utmost ease.

The questionnaire devised for the research is attached to the report as Annexure.

TITLE OF THE STUDY

“Customer satisfaction with Aditya Birla Mutual Funds”

TITLE JUSTIFICATION

The above title is self-explanatory. The study deals mainly with the identification
of customer satisfaction level towards various mutual funds offered by the Aditya Birla
Sun Life AMC.

OBJECTIVE OF THE STUDY:

The Purpose of research is to discover answer to question through the Application

of scientific procedure. The main aim of research is to find out the truth which is hidden
and which has not been discovered as yet.

To know and apply different market research techniques in our study as follows:
o Sampling Design o Research Methodology o Questionnaire Design
• The main objective of this project is concerned with the satisfaction level of investors invested
in Aditya Birla mutual funds.
• To know the preference of investors while investing with respect to risk, return, liquidity,
wealth, tax.

SAMPLING
Sampling is a process used in statistical analysis in which a predetermined number of observations
are taken from a large population.
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 Sampling procedure

The sample is selected deliberately, by contacting the concerned ABSL mutual funds investors.
Data was collected by asking people to fill a questionnaire prepared.

Sample size

The sample size is limited to 100 people. These 100 people are further classified according to their
age, gender, occupation and family monthly income.

Sampling method

In this study, convenient sampling method is being used.

DATA SOURCES

Research is totally based on primary data. Secondary data is used for references. Research
has been done by primary data collection and primary data has been collected by
interacting with various people and asking them to fill the questionnaire. Secondary data
has been collected through various websites, company‘s factsheet and reports.

PRIMARY DATA:

QUESTIONNAIRE METHOD: -

This method of data collection is quite popular, particularly in case of big enquiries. It
is being adopted by private individuals, research workers private and public organization
and even by governments in this method a questionnaire. Consists of a number of question
printed or typed in definite order on a form or set of form I have made a Questionnaire for
Survey.The inquiry was done of the respondents through questionnaire in which the same
set of questions were asked to the very respondents falling within out sample. The
advantage is that it is simple to administer easy to tabulate and analyze.

SECONDARY DATA:

Secondary data means data that are already available they refer to the data which
have already been collected and analyzed by someone else. We have used for it following
method Internet and journals of company. The search was done on internet and related
magazines, company‘s websites to extract relevant information. The other necessary
information regarding all Banks products and other bank products and offerings were

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 obtained through printed sources such as Handouts, Pamphlets, Advertisements and
circulars etc.

Scope of the study:

A big boom has been witnessed in Mutual Funds Industry in recent times. A large
number of new players have entered the market and gain market share in this rapidly
improving market. The study deals with measuring customer satisfaction with Aditya Birla
Sun Life AMC. The study then goes on to evaluate and analyze the findings so as to present
a clear picture of customer preferences. The study provides knowledge of customers views
and level of satisfaction towards ABSL mutual Fund Schemes.

The various mutual funds categories on offer by ABSL AMC include-

1. Savings Solution
2. Income Solution
3. Wealth Creation
4. Tax Solution

Tools and Techniques

As no study could be successfully completed without proper tools and techniques,

same with my project. For the better presentation and right explanation used tools of
statistics and computer very frequently. Basic tools which used for project from statistics
are-

• Bar Charts
• Pie charts
• Tables

Bar charts and pie charts are really useful tools for every research to show the result
in a well clear, ease and simple way. Because used bar charts and pie charts in project for
showing data in a systematic way, so it need not necessary for any observer to read all the
theoretical detail, simple on seeing the charts anybody could know that what is being said.

Technological Tools:

• MS- Excel
• MS-Word

Microsoft-Excel had a great role in this project, it created a situation of ―you sit
and get‖. Microsoft-Access did the performance of my personal assistant who organizes

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my all the details of document without disturbing them even a single time in all the project
duration.

LIMITATIONS OF THE RESEARCH

The study was based on a very modest sample size, hence cannot be called as a representative of
the views and opinion of majority.

Due to the financial & time constraints the study was limited to our place thus the conclusion
arrived in the end rely in short term experience.

Being an opinion survey the personal bases of the respondents might have entered into their
responses.

Time constraints resource constraints were some of the limitations.

The selected sample might have affected the results of the study therefore the findings &
conclusions of the study are only suggestive & not conclusive.

Sample was chosen according to convenience & judgment sampling & not according to random
sampling.

Indifference and lack of interest disposed by a few respondents leading to unauthentic responses.

Time proved to be a major constraint as far as collection and analysis of data was concerned.

Because of the limitations of information, some assumptions were made.

It was very difficult to carry out the whole analysis on the basis of limited scope of study.

To overcome the above limitations and to minimize their impact on the findings of
my report I had to meet more respondents than my actual sample size.

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 DATA ANALYSIS AND INTERPRETATION

The following information contains the data interpretation of the questionnaire. The
respondent‘s responses for the questions have been interpreted and a finding has been
made based on the respondent‘s responses.

TABLE -1: Demographic details of the ABSL AMC‟s respondent‟s

Age Percent
Below 20 2.5%

21-25 80%%

26-30 17.5%

Above 31 -

CHART- 1:

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 Age

Below 20 21-25 26-30 Above 31

Interpretation:

From the above data, it is observed that 80% of the respondents are belonging to the
age category of 21-25yrs. So it is concluded that the majority of the respondents fall under
this category.

TABLE -2: Gender details of the ABSL AMC‟s respondents

Gender Frequency Percent

Male 70 70%

Female 30 30%

CHART -2:

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 Gender

Female

Male

0% 10% 20% 30% 40% 50% 60%70%

Gender
80%

Interpretation:

From the data it is observed that 70% of the respondents are males. So, it is concluded that
the majority of the respondents are males.

TABLE -3: Occupation details of the ABSL AMC‟s respondent‟s

Occupation Percentage

Student 52.5%

Government Sector 12.5%

Private Sector 35%

Retired -

CHART -3:

Occupation

Student Govt. Sector Pvt. Sector Retired

Interpretation:

From the above data, it is observed that 52.5% of the respondents are students while
35% are from Private Sector. So it is concluded that the majority of the respondents fall
under the student category.
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 TABLE - 4: Income of theABSL AMC‟s respondents

Income Percent

Below Rs. 15000 100

Rs. 15000 – Rs. 30000 12.7

Rs. 30000 – Rs. 50000 9.3

Above Rs. 50000 22.7

CHART - 4:

Monthly Income

Upto Rs. 15000 Rs. 15000-Rs. 30000 Rs. 30000-Rs. 50000 Rs. 50000 & above

Interpretation:

The above data makes it very clear that most respondentsbelong to low income groups.

TABLE – 5:Factors considered while investing in mutual funds.

Factors Percentage

Liquidity 65%
Low Risk 55%
High Return 82.5%
Company Reputation 30%

CHART - 5:

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 Factors considered for Investing

Company Reputation

High Return

Low Risk

Liquidity

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Factors considered for Investing

Interpretation:

The above data shows that 82.5% respondents favors high returns whereas 65% and 55%
respondents favor liquidity & low risk.

TABLE 6:Types of mutual funds schemes respondents have invested in

Mutual Fund Schemes Percentage

Equity/Growth 80%
Debt/Income 22.5%
Hybrid/Balanced 52.5%
Tax Saving 42.5%
Money Market 35%
Gilt 0
Index 12.5%
Thematic 0
Others 0

CHART – 6:

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 Mutual Funds Schemes
Thematic

Index

Gilt

Money Market/Liquid

Tax Saving

Hybrid/Balanced

Debt/Income

Equity/Growth

0% 10% 20% 30% 40% 50% 60% 70%80%

Mutual Funds
Schemes
90%

Interpretation:

The above data shows that the 80% of respondents have invested in Equity schemes for
growth whereas 52.5% respondents have opted for a stable balanced scheme.

TABLE 7:Respondents knowledge as a mutual fund investor

Understanding Level Percentage

Fully Aware 32.5%

Partial Knowledge 42.5%

Specific knowledge 25%

CHART – 7:

Understanding Level

Fully Aware Partial Knowledge Specific to a scheme

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 Interpretation:

These is shown from the above data that the 32.5% are completely aware about mutual
funds. Whereas 42.5% respondents are partially aware about the mutual funds. It is also
seen that only 25% of respondents have fund specific knowledge.

TABLE 8:How the respondents knew about ABSLMF

Sources Percentage
Advertisement 17.5%
Peer Groups 60%
Banks 5%
Financial Advisors 17.5%

CHART – 8:

Sources

Advertisement Peer Groups Banks Financial Advisors

Interpretation:

The above data shows that 60% of respondents got to know about ABSLMF from Peer
Groups.

TABLE 9:Duration of respondents being a ABSL customer

Duration Percentage
Below 1 year 47.5%
1 - 3 years 53%
3 - 5 years 12.5%
5 years & above 5%

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CHART – 9:

Duration

Below 1 Year 1-3 Year 3-5 Year 5 Year & Above

Interpretation:

The above data shows that 47.5% of respondents are new to ABSLMF, whereas the rest
are known to the services offered by ABSLMF.

TABLE 10:Channels used by respondents for investing in ABSL

Channels Percentage

Direct from AMC 47.5%

Brokers/Sub-Brokers 35%

Agents 17.5%

CHART – 10:

Channels

Direct from AMC Brokers/Sub-Brokers Agents

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Interpretation:

The above data shows that 47.5% of respondents goes directly to the AMC For
investing, whereas only 35% and 17.5% of the respondents are using brokers & agents for
the investment in ABSLMF.

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Page | 45
 TABLE 11:Respondent‟s reasons for selecting ABSL AMC

Reasons Frequency

Professional Management 70%

Diversification of Risk 80%

High Returns 77.5%

Low Cost 45%

Transparency 15%

Flexibility 10%

Safety 50%

Tax benefit 35%

Prompt Services 50%

Choice of schemes 42.5%

CHART – 11:

Reasons for Opting ABSLMF

Reasons for Opting ABSLMF

Choice of schemes

Prompt Services

Tax benefit

Safety

Flexibility

Transparency

Low Cost

High Returns

Diversification of Risk

Professional Management

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

 Page | 44

Applications Percentage

FinGo 50%

BSLMF Active Account 50%

Responses Percentage

Excellent 25%

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Very good 60%
Good 15%
Neutral 0
Interpretation:

Applications used to monitor ABSLMF

FinGo BSLMF Active Account

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 The above data shows that 80% of the respondents opted for ABSLMF because of
diversification of risk, whereas 77.5%& 70% respondents opted for ABSLMF for its high returns and
professional management.

TABLE 12:Applications used by respondent to monitor mutual fund

CHART – 12:

Interpretation:

The above data shows that both of the applications are equally used by all respondents.

TABLE 13: Respondents rating to efficiency of services offered by ABSL

Page | 51
Responses Percentage

Excellent 45%

Very good 40%

Good 12.5%

Average 2.5%
Interpretation:

Rating to ABSL AMC

Excellent Very good Good Average

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 The data above shows that 52.5% of the respondents have rated the customer services as superior,
whereas 42.5% respondents have rated as good.

TABLE 15: Respondents rating to ABSL AMC to that of other AMC‟s

CHART – 15:

Interpretation:

The data above shows that 45% of the respondents have rated theABSL AMC as excellent than
to its competitors, whereas 40% respondents have rated the AMC as very good. So it is interpreted
that the ABSLMF AMC is in par with other top AMC‘s, the respondents have accounted with it. It is
also observed that the only 12.5% respondents have rated the AMC as good.
 FINDINGS

Most of the customers are young adults& male from private sectors and major portion
of respondents were students.
Most respondents belong to low income groups who favored high returns with second
priority for liquidity & risk.
Most of the respondents have invested in Equity schemes for growth while a half of
respondent considered balances options.
A half of the respondents were known to mutual funds where others were only
knowing about the specific schemes they invested in.
Most of the respondents were introduced to mutual funds by their peers, and were
new to the mutual funds.
Most of the customers nowadays prefer to invest directly from AMC‘s and chose
ABSLMF due to diversification of risk, high returns and professional management. The
applications from ABSLMF AMC to monitor the mutual funds schemes are equally
used by all respondents to monitor the mutual funds schemes.
A major of respondents rated the services offered and customer service of the AMC
as very good as well as superior.
A major portion of the respondents rated ABSLMF AMC as excellent in
comparison to the other AMC‘s.

Page | 55
Page | 48
SUGGESTIONS

Page | 57
The most vital problem spotted is of ignorance. Investors should be made aware of thebenefits. Nobody
will invest until and unless he is fully convinced. Investors should bemade to realize that ignorance is
no longer bliss and what they are losing by notinvesting.

Mutual funds offer a lot benefit which no other single option could offer. But most of thepeople
are not even aware of what actually a mutual fund is? So the advisors should try tochange their mindsets.
The advisor should target more and more of young investors and thepersons at the height of their career
would like to go for advisors due to lack of expertiseand time.

The advisors may try to highlight some of the value added benefit, rupee cost averaging,and the
systematic transfer plan, rebalancing etc. these options are not offered by otheroptions single-handedly.
So these are the enough to drive the investors towards mutualfunds. Investors could also try to increase
the spectrum of services offered.

Now the most important reason for not availing the services of advisors was spotted of being
expensive. The advisor should try to charge nominal fees at the beginning or theycan offer more services
and benefits at existing rate. They should also follow the decencyand follow the code of ethics so that
the investor could trust upon them
 IMPLICATIONS

In today‘s complex financial environment, investors have unique needs which are derived
from their risk appetite and financial goals. But regardless of this, every investor seeks to
maximize his returns and safety on his investments without capital erosion

And investment in mutual funds has advantages in terms of liquidity, safety and profitability.
They can be redeemed within 24 hours and have no exit load. The study is useful for:

• Investors looking for a reliable option in mutual fund AMC‘s can evaluate through my
research the advantages and satisfaction level of other existing investors.
• Organization can evaluate the satisfaction level and perception of investors and can
improve the product facilities to attract more investors.
• It will help the students to know the fundamental and technical aspect about liquid
funds.
• It is also beneficial for the institutional investors to know the investors outlook
towardscompany‘s Mutual funds.

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 CONCLUSION

Around the past few years, Aditya Birla Sun Life Mutual Fund AMC has evolved into a
reliable option in the mutual fund industry. It became the 3rd largest assets management
company in India by domestic AAUM as published by AMFI for the quarter ended March
2018 and as one of the Top 5 Fund Managers in India (excl. LIC).

Hence, the above research shows that the customers of the AMC are satisfied with the
mutual fund schemes provided by the company and only need to concentrate towards
spreading awareness about the mutual funds in the country to increase the companies share
in the market exponentially.

Page | 60
 ANNEXURE

QUESTIONNAIRE
1) Name:
2) Gender:
a)Female
b) Male 3) Age:

Page | 61
 a) Below 20 years
b) 20 – 25 years
c) 25 – 30 years
d) Above 30 years 4) Occupation:
a) Student
b) Govt. Sector
c) Private Sector
d) Retired
e) Other…
5) What is your monthly incomeapproximately:
a) Up to Rs. 15000
b) Rs. 15000 – Rs. 30000
c) Rs. 30000 – Rs. 50000
d) Rs. 50000 and above
6) Which factors do you consider while investing your money in mutual funds:
a) Liquidity
b) Low risk
c) High returns
d) Company reputation
7) Which type of mutual funds scheme have you invested in:
a) Equity/Growth
b) Debt/income
c) Hybrid/balanced
d) Tax saving
e) Money market/liquid
f) Gilt fund
g) Index fund
h) Thematic fund
i) Other…
8) Where do you find yourself as a mutual funds investor:
a) Fully aware
b) Partially aware
c) Aware only of specific scheme you have invested in

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9) How you came to know about the Aditya Birla mutual funds:
a) Advertisement
b) Peer groups
c) Banks
d) Financial advisor
10) How long have you been Aditya Birla mutual fund investor:
a) Below 1 year
b) 1 – 3 years
c) 3 – 5 years
d) Above 5 years
11) Which of these channels is mostly used by you while investing in Aditya Birla mutual
funds:
a) Direct from AMC
b) Brokers/sub-brokers
c) Agents
d) Others…
12) What was the reason for selecting Aditya Birla mutual fund:
a) Professional Management
b) Diversification of risks
c) High returns
d) Low cost
e) Transparency
f) Flexibility
g) Safety
h) Tax benefit
i) Prompt services
j) Choice of schemes
k) Others…
13) What applications do you use to monitor your mutual funds:
a) FinGo
b) BSLMF Account
c) Other…
14) How do you rate efficiency of services offered by Aditya Birla mutual funds: a) Excellent

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 b) Very good
c) Good
d) Neutral
15) How do you rate customer service in this AMC:
a) Superior
b) Good
c) Fair
d) Poor
16) What rating would you give to the Aditya Birla AMC when compared to other AMC‘s:
a) Excellent
b) Very good
c) Good
d) Average

Bibliography:

• www.adityabirlacapital.com
• www.mutualfundindia.com
• www.amfiindia.com
• www.ineindia.com
• www.valuesearchonline.com
• Factsheets and statements of ABSLAMC

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• The economic times

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