Atul Project

A Report On comparative study on the performance of hdfc and icici prudential mutual funds
Submitted By: Shubhransu kumar patel
TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................................2 ACKNOWLEDGEMENTS...........................................................................................................................4 EXECUTIVE SUMMARY............................................................................................................................5 MUTUAL FUNDS IN INDIA........................................................................................................................6 STRUCTURE OF THE INDIAN MUTUAL FUND INDUSTRY ............................................................6 RECENT TRENDS IN MUTUAL FUND INDUSTRY .............................................................................7 ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI).......................................................................9 THE THREE BASIC FEATURES OF MUTUAL FUNDS......................................................................11 HOW TO INVEST IN MUTUAL FUND....................................................................................................12 RIGHTS OF A MUTUAL FUND UNIT HOLDER .................................................................................13 ADVANTAGES OF MUTUAL FUND........................................................................................................15 LIMITATIONS OF MUTUAL FUNDS......................................................................................................18 PARTIES INVOLVED IN MUTUAL FUND DEALINGS.......................................................................19 FREQUENTLY USED TERMS..................................................................................................................20 NET ASSET VALUE (NAV) .................................................................................................................20 SALE PRICE .........................................................................................................................................20 REPURCHASE PRICE.............................................................................................................................20 REDEMPTION PRICE.............................................................................................................................20 SALES LOAD...........................................................................................................................................20 REPURCHASE OR BACK-END LOAD ..............................................................................................21 SYSTEMATIC INVESTMENT PLAN (SIP)...........................................................................................21 SYSTEMATIC WITHDRAWAL PLAN (SWP).......................................................................................21 SYSTEMATIC TRANSFER PLAN (STP)...............................................................................................21 EQUITY LINKED SAVING SCHEMES (ELSS).....................................................................................21 THE GOOD PICKS...................................................................................................................................22 TYPES OF MUTUAL FUNDS....................................................................................................................25 BY STRUCTURE......................................................................................................................................25 BY INVESTMENT OBJECTIVE.............................................................................................................................26 OTHER SCHEMES...................................................................................................................................27 SPECIAL SCHEMES..........................................................................................................................................28 PLANS OF MUTUAL FUNDS....................................................................................................................29 GROWTH PLAN...............................................................................................................................................29 DIVIDEND PLAN.............................................................................................................................................29 BASIS OF COMPARISON OF VARIOUS SCHEMES OF MUTUAL FUNDS.....................................31
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BETA.....................................................................................................................................................31 ALPHA..................................................................................................................................................31 R-SQUARED.........................................................................................................................................32 SHARPE RATIO...................................................................................................................................32 TREYNOR RATIO................................................................................................................................33 STANDARD DEVIATION...................................................................................................................33 NAV......................................................................................................................................................33
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ANALYSIS OF TOP 10 MUTUAL FUNDS...............................................................................................35 COMPARISON OF TEN MUTUAL FUND SCHEMES OF HDFC MUTUAL FUND AND PRUDENTIAL ICICI MUTUAL FUND.....35 ASSET MANAGEMENT COMPANIES (AMCS)....................................................................................45 BRIEF DESCRIPTION ABOUT SOME OF THE AMCS IS:..................................................................46 FUTURE OF MUTUAL FUNDS IN INDIA..............................................................................................53
Contents
1. 2.
3. 4.
Executive Summary Objective of Study Introduction - Mutual Fund in India Growth & Performance of Mutual Fund in India Structure of the Indian Mutual Fund Industry Recent Trend in Mutual Fund Industry Association of Mutual Fund in India (AMFI) The Objectives of Association of Mutual Fund The Sponsor of Association of Mutual Fund The Three Basic Features of Mutual Fund How to Invest in Mutual Fund Rights of a Mutual Fund Unit Holder Advantages of Mutual Fund Limitations of Mutual Fund Types of Mutual Funds Plans For Mutual Fund Information About HDFC Mutual Fund and ICICI Prudential Mutual Fund Asset Management Companies (AMCS) Brief Description About Some of the AMCs
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6. 7. 8.
9. 10. 11. 12. 13. 14. 15. 16. 17.
18. Comparison of Mutual Fund

19. 20.
21. Conclusion 22. Findings 23. Suggestion
24. Bibliography
EXECUTIVE SUMMARY
This report gives one an insight into the mutual funds in India. I have tried my level best to incorporate the readings and the information. The first section of this report talks about the different types of mutual funds along with a brief description of AMFI, the regulatory body of mutual funds. The second section gives a definition of all the terms which are frequently used while dealing in mutual funds. This section also discusses all performance on which I have analyzed different mutual fund schemes of Prudential ICICI Mutual Fund and HDFC Mutual Fund.
OBJECTIVE OF THE STUDY

Main objectives of our study is: To know the growth and performance of mutual fund in India. Structure of the Indian mutual fund industry. Steps for investment in mutual fund. To know the performance of HDFC mutual fund and ICICI Pru mutual fund. To know the portfolio record of HDFC mutual fund schemes and ICICI mutual fund schemes. To supply information towards the investors regarding the mutual fund in which they should invest. Provide informations regarding Asset Management
Companies (AMCs).
MUTUAL FUNDS IN INDIA

A mutual fund is simply a financial intermediary that allows a group of investors to pool their money together with a predetermined investment objective. The mutual fund will have a fund manager who is responsible for investing the pooled money into specific securities (usually stocks or bonds). When one invests in a mutual fund, he is buying shares (or portions) of the mutual fund and becoming a shareholder of the fund. 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. While the concept of individuals coming together to invest money collectively is not new, the mutual fund in its present form is a 20th century phenomenon. In fact, mutual funds gained popularity only after the Second World War. Globally, there are thousands of firms offering tens of thousands of mutual funds with different investment objectives. Today, mutual funds collectively manage almost as much as or more money as compared to banks. A draft offer document is to be prepared at the time of launching the fund. Typically, it pre specifies the investment
objectives of the fund, the risk associated, the costs involved in the process and the broad rules for entry into and exit from the fund and other areas of operation. In India, as in most countries, these sponsors need approval from a regulator, SEBI (Securities exchange Board of India) in our case. SEBI looks at track records of the sponsor and its financial strength in granting approval to the fund for commencing operations. A sponsor then hires an asset management company to invest the funds according to the investment objective. It also hires another entity to be the custodian of the assets of the fund and perhaps a third one to handle registry work for the unit holders (subscribers) of the fund.
GROWTH AND PREFORMANCE OF MUTUAL FUND

In India the mutual fund industry has been monopolized by the unit trust of India ever since 1963. Now the commercial banks like the SBI, Canada Bank, Indian Bank, Bank of India and the Punjab national bank have entered in to the field. These institutions have successfully launched a variety of schemes to meet the diverse needs of millions of small investors. The UTI is the countries largest mutual fund company with over 25 million investors, accounting for nearly 10% of countries stock market capitalization. In India mutual funds have been preferred as an avenue for investment by the house hold savers only from 1990s. The Indian mutual funds industry has evolved over distinct stages. The growth of mutual fund industry can be divided into 4 phases:Phase 1 (1964-1987) Phase 2 (1987-1992) Phase 3 (1992-1997) Phase 4 (beyond 1997)
PHASE 1 (1964-1987)
The mutual fund concept was introduced in India with the setting up of UTI in 1963 which became operational in 1964 with the objective of mobilizing savings by sale of units and investing them in corporate securities for maximizing yield and capital appreciation. It commenced with the launch of unit scheme and other innovative schemes like income oriented and open ended schemes. UTI launched equity growth fund in 1986 which proved to be an grand marketing success. It launched India fund in1986 the 1stIndian offshore fund. UTI maintains its monopoly and growth till 1987.
PHASE 2 (1987-1992)
This involved the entry of mutual fund companies
sponsored by nationalized banks and insurance companies. In 1987 SBI mutual fund and Canada bank mutual fund were set up. In 1988 UTI floated another offshore fund (Indian growth fund) listed in New York stock exchange. LIC, GIC, Nationalized banks, BOI, PNB, started its
operation in mutual fund by 1990. In1989 1st regulatory guidelines wad issued by RBI for mutual fund sponsored by banks and in1990 Govt. of India issued guidelines for all mutual funds.
PHASE 3 (1992-1997)
The year 1993 marked a turning point in the history of mutual funds in India. The SEBI issued the mutual fund regulation in january 1993. Foreign and private domestic players were allowed entry in the mutual fund industry. Kothari group of companies, in joint venture with pioneer as US funds company set up the 1st private mutual fund known as the Kothari-pioneer mutual fund in 1993.
PHASE 4 (BEYOND 1997)

The flow of fund into mutual fund increased due to more positive sentiment in the capital market, significant, tax benefit and improvement in the quality of investor services etc. The Indian mutual fund industry has stagnated at around rupees 1 lakh crore assets since 2000-01. In 2001-02 90 new schemes were launched,74 of which were open-ended and 16 were close-ended. There were 53 income schemes. If mutual fund ensure good returns, quick liquidity and safety and create a good report with the investors, their future will be very bright.
STRUCTURE OF THE INDIAN MUTUAL FUND INDUSTRY

The Indian mutual fund industry is dominated by the Unit Trust of India which has a total corpus of Rs700bn collected from more than 20 million investors. The UTI has many funds/schemes in all categories i.e. equity, balanced, income etc with some being open-ended and some being closedended. The Unit Scheme 1964 commonly referred to as US 64, which is a balanced fund, is the biggest scheme with a corpus of about Rs200bn. UTI was floated by financial institutions and is governed by a special act of Parliament. Most of its investors believe that the UTI is government owned and controlled, which, while legally incorrect, is true for all practical purposes. The second largest category of mutual funds is the ones floated by nationalized banks. Can bank Asset Management floated by Canara Bank and SBI Funds Management floated by the State Bank of India are the largest of these. GIC AMC floated by General Insurance Corporation and Jeevan Bima Sahayog AMC floated by the LIC are some of the other prominent ones. The aggregate corpus of funds managed by this category of AMCs is about Rs150bn. The third largest categories of mutual funds are the ones floated by the private sector and by foreign asset management companies. The largest of these are Prudential ICICI AMC and Birla Sun Life AMC. The aggregate corpus of assets managed by this category of AMCs is in excess of Rs250bn.
RECENT TRENDS IN MUTUAL FUND INDUSTRY

The most important trend in the mutual fund industry is the aggressive expansion of the foreign owned mutual fund companies and the decline of the companies floated by nationalized banks and smaller private sector players. Many nationalized banks got into the mutual fund business in the early nineties and got off to a good start due to the stock market boom prevailing then. These banks did not really understand the mutual fund business and they just viewed it as another kind of banking activity. Guaranteed returns and their parent organizations had to bail out these AMCs by paying large amounts of money as the difference between the guaranteed and actual returns. The service levels were also very bad. Most of these AMCs have not been able to retain staff, float new schemes etc. and it is doubtful whether, barring a few exceptions, they have serious plans of continuing the activity in a major way. The experience of some of the AMCs floated by private sector Indian companies was also very similar. They quickly realized that the AMC business is a business, which makes money in the long term and requires deep-pocketed support in the intermediate years. Some have sold out to foreign owned companies, some have merged with others and there is general restructuring going on.
The foreign owned companies have deep pockets and have come in here with the expectation of a long haul. They can be credited with introducing many new practices such as new product innovation, sharp improvement in service standards and disclosure, usage of technology, broker education and support etc. In fact, they have forced the industry to upgrade itself and service levels of organizations like UTI have improved dramatically in the last few years in response to the competition provided by these. Changing Regulations The recent ruling by the Securities and Exchange Board of India, SEBI, on the removal of entry loads on mutual fund (MF) investments has brought appreciation as well as criticism from different corners. Last year SEBI had already done away with entry loads in cases where the investors directly invested in mutual funds without going through an agent or a distributor. Changing regulations is not a new trend in the mutual fund industry; we have had previous rulings which seemed difficult and cumbersome to implement at the time but have been adopted by all affected parties over time. In 2001, SEBI made AMFI (Association of Mutual Funds in India) certification compulsory to sell MFs which was accepted after initial protest from distributors. Similarly, a PAN (Permanent Account Number) was made compulsory for all MF investments in 2007 and KYC (Know Your Customer) compliance was made mandatory last year. In spite of all the objections, over time everyone has accepted the changes, adapted to them and moved on.
ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI)

With the increase in mutual fund players in India, a need for mutual fund association in India was generated to function as a non-profit organization. Association of Mutual Funds in India (AMFI) was incorporated on 22nd August, 1995. AMFI is an apex body of all Asset Management Companies (AMC) which has been registered with SEBI. Till date all the AMCs are that have launched mutual fund schemes are its members. It functions under the supervision and guidelines of its Board of Directors. Association of Mutual Funds India has brought down the Indian Mutual Fund Industry to a professional and healthy market with ethical lines enhancing and maintaining standards. It follows the principle of both protecting and promoting the interests of mutual funds as well as their unit holders.
THE OBJECTIVES OF ASSOCIATION OF MUTUAL FUNDS IN INDIA

The AMFI works with 30 registered AMCs of the country. It has certain defined objectives which juxtaposes the guidelines of its Board of Directors. The objectives are as follows: This mutual fund association of India maintains a high professional and ethical standard in all areas of operation of the industry. It also recommends and promotes the top class business practices and code of conduct which is followed by members and related people engaged in the activities of mutual fund and asset management. The agencies who are by any means connected or involved in the field of capital markets and financial services also involved in this code of conduct of the association. AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual fund industry. AMFI does represent the Government of India, the Reserve Bank of India and other related bodies on matters relating to the Mutual Fund Industry. It develops a team of well qualified and trained Agent distributors. It implements a programme of training and certification for all intermediaries and other engaged in the mutual fund industry. AMFI undertakes all India awareness programme for investors in order to promote proper understanding of the concept and working of mutual funds. At last but not the least association of mutual fund of India also disseminate informations on Mutual Fund Industry and undertakes studies and research either directly or in association
with other bodies.
THE SPONSOR OF ASSOCIATION OF MUTUAL FUNDS IN INDIA

Bank Sponsored SBI Fund Management Ltd. BOB Asset Management Co. Ltd. Canbank Investment Management Services Ltd. UTI Asset Management Company Pvt. Ltd.
Institutions GIC Asset Management Co. Ltd. Jeevan Bima Sahayog Asset Management Co. Ltd.
Private Sector Indian: BenchMark Asset Management Co. Pvt. Ltd. Cholamandalam Asset Management Co. Ltd. Credit Capital Asset Management Co. Ltd. Escorts Asset Management Ltd. JM Financial Mutual Fund Kotak Mahindra Asset Management Co. Ltd.
Reliance Capital Asset Management Ltd. Sahara Asset Management Co. Pvt. Ltd Sundaram Asset Management Company Ltd. Tata Asset Management Private Ltd.
Predominantly India Joint Ventures: Birla Sun Life Asset Management Co. Ltd. DSP Merrill Lynch Fund Managers Limited HDFC Asset Management Company Ltd.
Predominantly Foreign Joint Ventures: ABN AMRO Asset Management (I) Ltd. Alliance Capital Asset Management (India) Pvt. Ltd. Deutsche Asset Management (India) Pvt. Ltd. Fidelity Fund Management Private Limited Franklin Templeton Asset Mgmt. (India) Pvt. Ltd. HSBC Asset Management (India) Private Ltd. ING Investment Management (India) Pvt. Ltd. Morgan Stanley Investment Management Pvt. Ltd. Principal Asset Management Co. Pvt. Ltd.
Prudential ICICI Asset Management Co. Ltd. Standard Chartered Asset Mgmt Co. Pvt. Ltd.
THE THREE BASIC FEATURES OF MUTUAL FUNDS

a) All mutual funds charge expenses. Whether they be marketing, management or brokerage fees, fund expenses are generally passed back to the investors. b) Investors exercise no control over what securities the fund buys or sells. c) The buying and selling of securities within the mutual fund portfolio generates capital gains and losses which are passed back to investors even if they have not sold any of their mutual fund shares.
HOW TO INVEST IN MUTUAL FUND

Step One -Identify your Investment needs
Your financial goals will vary, based on your age, lifestyle, financial independence, family commitments, and level of income and expenses among many other factors. Therefore, the first step is to assess your needs. You can begin by defining your investment objectives and needs which could be regular income, buying a home or finance a wedding or educate your children or a combination of all these needs, the quantum of risk you are willing to take and your cash flow requirements.
Step Two -Choose the right Mutual Fund

The important thing is to choose the right mutual fund scheme which suits your requirements. The offer document of the scheme tells you its objectives and provides supplementary details like the track record of other schemes managed by the same Fund Manager. Some factors to evaluate before choosing a particular Mutual Fund are the track record of the performance of the fund over the last few years in relation to the appropriate yardstick and similar funds in the same category. Other factors could be the portfolio allocation, the dividend yield and the degree of transparency as reflected in the frequency and quality of their communications for selecting the right scheme as per your specific requirements.
Step Three -Select the ideal mix of Schemes

Investing in just one Mutual Fund scheme may not meet all your investment needs. You may consider investing in a combination of schemes to achieve your specific goals.
Step Four -Invest regularly

The best approach is to invest a fixed amount at specific intervals, say every month. By investing a fixed sum each month, you buy fewer units when the price is higher and more units when the price is low, thus bringing down your average cost per unit. This is called rupee cost averaging and is a disciplined investment strategy followed by investors all over the world. You can also avail the systematic investment plan facility offered by many open end funds.
Step Five-Start early

It is desirable to start investing early and stick to a regular investment plan. If you start now, you will make more than if you wait and invest later. The power of compounding lets you earn income on income and your money multiplies at a compounded rate of return.
Step Six -The final step

All you need to do now is to click for online application forms of various mutual fund schemes and start investing. You may reap the rewards in the years to come. Mutual Funds are suitable for every kind of investor -whether starting a career or retiring, conservative or risk taking, growth oriented or income seeking.
RIGHTS OF A MUTUAL FUND UNIT HOLDER

A unit holder in a Mutual Fund scheme governed by the SEBI (Mutual Funds) Regulations is entitled to: 1 Receive unit certificates or statements of accounts
confirming the title within 6 weeks from the date of closure of the subscription or within 6 weeks from the date of request for a unit certificate is received by the Mutual Fund. 2 Receive information about the investment policies,
investment objectives, financial position and general affairs of the scheme. 3 Receive dividend within 42 days of their declaration and receive the redemption or repurchase proceeds within 10 days from the date of redemption or repurchase. 4
Vote in accordance with the Regulations to: Approve or disapprove any change in the fundamental investment policies of the scheme, which are likely to modify the scheme or affect the interest of the the investment. unit holder. The dissenting unit holder has a right to redeem
Change the Asset Management Company. Wind up the schemes.
5.
Inspect the documents of the Mutual Funds specified in the scheme's offer document.
ADVANTAGES OF MUTUAL FUND

Professional Management The idea behind a mutual fund is that individual investors generally lack the time, the inclination or the skills to manage their own investment. Thus mutual funds hire professional managers to manage the investments for the benefit of their investors in return for a management fee. The organization that manages the investment is the Asset Management Company (AMC). Employees of the AMC who perform this role of managing investments are the fund managers. Diversification The best mutual funds design their portfolios so individual investments will react differently to the same economic conditions. For example, economic conditions like a rise in interest rates may cause certain securities in a diversified portfolio to decrease in value. Other securities in the portfolio will respond to the same economic conditions by increasing in value. When a portfolio is balanced in this way, the value of the overall portfolio should gradually increase over time, even if some securities lose value. Convenient Administration
Investing in a Mutual Fund reduces paperwork and helps you avoid many problems such as bad deliveries, delayed payments and follow up with brokers and companies. Mutual Funds save your time and make investing easy and convenient. Low cost Mutual fund expenses are often no more than 1.5 percent of your investment. Expenses for Index Funds are less than that, because index funds are not actively managed. Instead, they automatically buy stock in companies that are listed on a specific index. Choice of Schemes A mutual fund can, and typically does have several schemes to cater to different investors preferences. The individual could choose to hire a professional manager to manage his money as per his investment and risk preferences. Such personal treatment often referred to as Portfolio Management Scheme (PMS). Legal Framework Since the investors are often not so well qualified to invest, the mutual fund business is highly regulated. Broadly the existing regulations are: 1 2 3 Pre-requisitions to start a mutual fund; Permissible schemes and investments; Control over marketing process;
4 5 6
Checks and balances in the legal structure; Valuation of securities; Level of operational flexibility to the professional investors.
Tax Benefits Dividend income from mutual fund units will be exempt from income tax with effect from July 1, 1999. Further, investors can get rebate from tax under section 88 of Income Tax Act, 1961 by investing in Equity Linked Saving Schemes of mutual funds. Further benefits are also available under section 54EA and 54EB with regard to relief from long term capital gains tax in certain specified schemes. Return Potential Mutual funds allow you to allocate investments assets across different fund categories to achieve a variety of risk/reward objectives thereby reducing overall portfolio risk. In other words, the right way to benefit from Mutual funds is to balance the risk as well as the potential to earn. Liquidity Open-end schemes offer liquidity through on-going sale and repurchase facility. Thus, the investor does not have to worry about finding a buyer for his investment a risk normally associated with direct investment in the securities market. 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 manager's investment strategy and outlook. Flexibility Through features such as regular investment plans, regular withdrawal plans and dividend reinvestment plans, you can systematically invest or withdraw funds according to your needs and convenience. Affordability Investors individually may lack sufficient funds to invest in highgrade stocks. A mutual fund because of its large corpus allows even a small investor to take the benefit of its investment strategy.
LIMITATIONS OF MUTUAL FUNDS

No Guarantees No investment is risk free. If the entire stock market declines in value, the value of mutual fund shares will go down as well, no matter how balanced the portfolio. Investors encounter fewer risks when they invest in mutual funds than when they buy and sell stocks on their own. However, anyone who invests through a mutual fund runs the risk of losing money. Fees and commissions All funds charge administrative fees to cover their day-today expenses. Some funds also charge sales commissions or "loads" to compensate brokers, financial consultants, or
financial planners. Even if you don't use a broker or other financial adviser, you will pay a sales commission if you buy shares in a Load Fund. Taxes During a typical year, most actively managed mutual funds sell anywhere from 20 to 70 percent of the securities in their portfolios. If your fund makes a profit on its sales, you will pay taxes on the income you receive, even if you reinvest the money you made.
Management risk When you invest in a mutual fund, you depend on the fund's manager to make the right decisions regarding the fund's portfolio. If the manager does not perform as well as you had hoped, you might not make as much money on your investment as you expected. Of course, if you invest in Index Funds, you forego management risk, because these funds do not employ managers. Dilution It's possible to have too much diversification. Because funds have small holdings in so many 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 new money.
TYPES OF MUTUAL FUNDS

Mutual fund schemes may be classified on the basis of its structure and its investment objective. BY STRUCTURE:Open-ended Funds An open-end fund is one that is available for subscription all through the year. These do not have a fixed maturity. Investors can conveniently buy and sell units at Net Asset Value ("NAV") related prices. The key feature of open-end schemes is liquidity. Top five open-end schemes are: Sundaram BNP Paribas Money Fund Super Institutional Growth Templeton India Liquid Plus-Growth Plan HDFC Cash Management Fund - Savings PlanGrowth Option SBI MICF CASH PLAN Fidelity Multi Manager Cash Fund-Growth Option Closed-ended Funds A closed-end fund has a stipulated maturity period which generally ranging from 3 to 15 years. The fund is open for subscription only during a specified period. Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where they are listed. In order to provide an exit route to the investors, some close-ended funds give an option of selling back the units to the Mutual Fund through 15.0772 13.0721 14.8842 16.0392 10.3436
periodic repurchase at NAV related prices. SEBI Regulations stipulate that at least one of the two exit routes is provided to the investor. The top five close-ended funds are: Prudential ICICI Fusion Fund-FII - Growth Tata Equity Management Fund - Growth SBI Debt Fund Series-60 Days-1-Growth Sundaram BNP Paribas Fixed Term Plan Series VII Growth Reliance Fixed Maturity Fund-Series-IIAnnual Plan Series-1 Growth Option Interval Funds Interval funds combine the features of open-ended and closeended schemes. They are open for sale or redemption during pre-determined intervals at NAV related prices. BY INVESTMENT OBJECTIVE:Growth Funds The aim of growth funds is to provide capital appreciation over the medium to long-term. Such schemes normally invest a majority of their corpus in equities. It has been proven that returns from stocks, have outperformed most other kind of investments held over the long term. Growth schemes are ideal for investors having a long-term outlook seeking growth over a period of time. The top three worth considering funds are: Reliance Diversified Power Sector FundGrowth-Growth 25.0016 9.05 10.2370 10.0927 10.0737 10.6576
Sundaram BNP Paribas India Leadership Fund-Growth Magnum Equity Fund Income Funds
23.1767 25.84
The aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures and Government securities. Income Funds are ideal for capital stability and regular income. The top three income funds are: Reliance Income Fund-Retail Plan - Growth Plan Growth Option Sundaram BNP Paribas Bond Saver-Growth SBI Magnum Income Fund-Growth Balanced Funds The aim of balanced funds is to provide both growth and regular income. Such schemes periodically distribute a part of their earning and invest both in equities and fixed income securities in the proportion indicated in their offer documents. In a rising stock market, the NAV of these schemes may not normally keep pace, or fall equally when the market falls. These are ideal for investors looking for a combination of income and moderate growth. The top three balanced funds are: SBI Magnum Balanced Fund - Growth HDFC Balanced Fund-Growth Plan FT India Balanced Fund-Growth Plan Money Market Funds 29.04 27.061 26.7482 22.321 22.0890 19.1812
The aim of money market funds is to provide easy liquidity, preservation of capital and moderate income. These schemes generally invest in safer short-term instruments such as treasury bills, certificates of deposit, commercial paper and inter-bank call money. Returns on these schemes may fluctuate depending upon the interest rates prevailing in the market. These are ideal for Corporate and individual investors as a means to park their surplus funds for short periods. Load Funds A Load Fund is one that charges a commission for entry or exit. That is, each time you buy or sell units in the fund, a commission will be payable. Typically entry and exit loads range from 1% to 2%. It could be worth paying the load, if the fund has a good performance history. No-Load Funds A No-Load Fund is one that does not charge a commission for entry or exit. That is, no commission is payable on purchase or sale of units in the fund. The advantage of a no load fund is that the entire corpus is put to work. OTHER SCHEME:Tax Saving Schemes These schemes offer tax rebates to the investors under specific provisions of the Indian Income Tax laws as the Government offers tax incentives for investment in specified avenues. Investments made in Equity Linked Savings Schemes
(ELSS) and Pension Schemes are allowed as deduction u/s 88 of the Income Tax Act, 1961. The Act also provides opportunities to investors to save capital gains u/s 54EA and 54EB by investing in Mutual Funds. Special Schemes Industry Specific Schemes Industry Specific Schemes invest only in the industries specified in the offer document. The investment of these funds is limited to specific industries like InfoTech, FMCG, and Pharmaceuticals etc. Index Schemes Index Funds attempt to replicate the performance of a particular index such as the BSE Sensex or the NSE 50. Sectoral Schemes Sectoral Funds are those, which invest exclusively in a specified industry or a group of industries or various segments such as 'A' Group shares or initial public offerings. Various sectoral schemes are: Pharma sector schemes FMCG sector schemes Service sector schemes Infrastructural sector schemes
Bank sector schemes Auto sector schemes, etc,
PLANS OF MUTUAL FUNDS

There are two types of plans. Those are: 1) Growth Plan 2) Dividend plan Growth plan A mutual fund whose aim is to achieve capital appreciation by investing in growth stocks. They focus on companies that are experiencing significant earnings or revenue growth, rather than companies that pay out dividends. The hope is that these rapidly growing companies will continue to increase in value, thereby allowing the fund to reap the benefits of large capital gains. In general, growth funds are more volatile than other types of funds, rising more than other funds in bull markets and falling more in bear markets. Some growth plan schemes are: Franklin India Prima Fund-Growth Reliance Vision Fund-GROWTH PLANGrowth Option HDFC Equity Fund-Growth Plan 116.694 161.99 140.74
Dividend Plan
Again dividend plan is sub divided into two parts: Dividend reinvestment plan (DRIP) An investment plan offered by some corporations enabling shareholders to automatically reinvest cash dividends and capital gains distributions, thereby accumulating more stock without paying brokerage commissions. Many DRIPs also allow the investment of additional cash from the shareholder, known as an optional cash purchase. Unlike with a Direct Stock Purchase Plan, with a DRIP the investor must purchase the first share in the company through a brokerage. After that, the company will take whatever dividends it would normally send as a check and instead it will reinvest them to purchase more shares in the company for you, all without charging a commission. The only drawback is that the investor has no control over when his/her money from the dividends is used to purchase new stock in the company, which means he/she might be buying new shares at suboptimal times. Also called Dividend Reinvestment Programs. Some dividend reinvestment schemes are:
Dividend payout plan
The ex-dividend date was created to allow all pending transactions to be completed before the record date. If an investor does not own the stock before the ex-dividend date, he or she will be ineligible for the dividend payout. Further, for all pending transactions that have not been completed by the ex-dividend date, the exchanges automatically reduce the price of the stock by the amount of the dividend. This is done because a dividend payout automatically reduces the value of the company (it comes from the company's cash reserves), and the investor would have to absorb that reduction in value (because neither the buyer nor the seller are eligible for the dividend). Some dividend payout schemes are: HDFC Equity Fund-Dividend Plan Prudential ICICI Tax Plan-Dividend Sundaram BNP Paribas S.M.I.L.E.FundDividend 34.841 24.05 12.8372
INFORMATION
HDFC Asset Management Company Limited (AMC) HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated July 3, 2000. The registered office of the AMC is situated at Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400 020. In terms of the Investment Management Agreement, the Trustee has appointed the HDFC Asset Management Company Limited to manage the Mutual Fund. The paid up capital of the AMC is Rs. 25.161 crore. The present equity shareholding pattern of the AMC is as follows : Particulars % of the paid equity capital Finance 60 40 up
Housing Development Corporation Limited Standard Life Investments Limited
Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual Fund, following a review of its overall strategy, had decided to divest its Asset Management business in India. The AMC had entered into an agreement with ZIC to acquire the said business, subject to necessary regulatory approvals. On obtaining the regulatory approvals, the following Schemes of Zurich India Mutual Fund have migrated to HDFC Mutual Fund on June 19, 2003. These Schemes have been renamed as follows:
Former Name Zurich India Equity Fund Zurich India Prudence Fund Zurich India Capital Builder Fund Zurich India TaxSaver Fund Zurich India Top 200 Fund Zurich India High Interest Fund Zurich India Liquidity Fund Zurich Fund India Sovereign Gilt
New Name HDFC Equity Fund HDFC Prudence Fund HDFC Capital Builder Fund HDFC TaxSaver HDFC Top 200 Fund HDFC High Interest Fund HDFC Cash Management Fund
HDFC Sovereign Gilt Fund*
PRODUCTS
Equity / Growth Fund Invest primarily instruments. in equity and equity related
Children's Gift Fund Children's Gift Fund Fixed Maturity Plan Invest primarily in Debt / Money Market Instruments and Government Securities...
Liquid Funds Provide high level of liquidity by investing in money market and debt instruments. Debt/ Income Fund Invest in money market and debt instruments and provide optimum balance of yield, ...
Quarterly Interval Fund The primary objective of the Scheme is to generate regular income through investment..
AWARDS ACCOLADES
ICRA Mutual Fund Awards 2011

HDFC Mutual Fund was awarded the 'Star Fund House of the Year' in the 'Equity' Category (from amongst 13 fund houses) for the one year period ending December 31, 2010 at ICRA Mutual Fund Awards 2011. 'Star Fund House of the Year Award' indicates top overall performance within the eligible fund houses. Past Performance is no guarantee of future results. Please refer below the Award / Ranking Methodology and Disclaimer for the Awards/ Rankings. ICRA Gold Award for 'Best Performance' - Seven Star Fund Ranking. HDFC Prudence Fund has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Balanced for one year period ending December 31, 2010 (from amongst 28 schemes) at ICRA Mutual Fund Awards 2011. HDFC Capital Builder Fund has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Diversified Equity - Aggressive for one year period ending December 31, 2010 (from amongst 83 schemes) at ICRA Mutual Fund Awards 2011. HDFC Equity Fund has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance'
in the category of Open Ended Diversified Equity - Defensive for one year period ending December 31, 2010 (from amongst 118 schemes) at ICRA Mutual Fund Awards 2011. HDFC TaxSaver has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Equity Linked Savings Schemes (ELSS) for one year period ending December 31, 2010 (from amongst 34 schemes) at ICRA Mutual Fund Awards 2011. HDFC MF Monthly Income Plan - Long Term Plan has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Marginal Equity for one year period ending December 31, 2010 (from amongst 46 schemes) at ICRA Mutual Fund Awards 2011. HDFC Prudence Fund has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Balanced for three year period ending December 31, 2010 (from amongst 27 schemes) at ICRA Mutual Fund Awards 2011. HDFC Short Term Plan has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in the category of Open Ended Debt Short Term for three year period ending December 31, 2010 (from amongst 18 schemes) at ICRA Mutual Fund Awards 2011. HDFC Equity Fund has been ranked a "Seven Star Fund" and has been awarded Gold Award for 'Best Performance' in
the category of Open Ended Diversified Equity - Defensive for three year period ending December 31, 2010 (from amongst 95 schemes) at ICRA Mutual Fund Awards 2011. Past Performance is no guarantee of future results. Please refer below the Award / Ranking Methodology and Disclaimer for the Awards / Rankings. 'Seven Star Fund' Ranking: Best Performance amongst 5-Star Funds in the respective category. 'ICRA 7-Star Gold Award': The best performing fund amongst the 5-Stars is ranked as a 7-Star Fund provided it's fund size is greater than the average of the respective category or Rs. 100 crores, whichever is lower. ICRA Five Star Fund Ranking HDFC Children's Gift Fund - Investment Plan has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Balanced for one year period ending December 31, 2010 (from amongst 28 schemes) at ICRA Mutual Fund Awards 2011. HDFC Balanced Fund has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Balanced for one year period ending December 31, 2010 (from amongst 28 schemes) at ICRA Mutual Fund Awards 2011. HDFC Growth Fund has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open
Ended Diversified Equity - Defensive for one year period ending December 31, 2010 (from amongst 118 schemes) at ICRA Mutual Fund Awards 2011. HDFC Long Term Advantage Fund has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Equity Linked Savings Schemes (ELSS) for one year period ending December 31, 2010 (from amongst 34 schemes) at ICRA Mutual Fund Awards 2011. HDFC Cash Management Fund-Treasury Advantage Plan Retail Option has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Liquid for one year period ending December 31, 2010 (from amongst 54 schemes) at ICRA Mutual Fund Awards 2011. HDFC Children's Gift Fund - Savings Plan has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Marginal Equity for one year period ending December 31, 2010 (from amongst 46 schemes) at ICRA Mutual Fund Awards 2011. HDFC Multiple Yield Fund - Plan 2005 has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Marginal Equity for one year period ending December 31, 2010 (from amongst 46 schemes) at ICRA Mutual Fund Awards 2011. HDFC Balanced Fund has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Balanced for three year period ending December 31,
2010 (from amongst 27 schemes) at ICRA Mutual Fund Awards 2011. HDFC Multiple Yield Fund - Plan 2005 has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Marginal Equity for three year period ending December 31, 2010 (from amongst 45schemes) at ICRA Mutual Fund Awards 2011. HDFC TaxSaver has been ranked a "Five Star Fund" indicating performance among top 4.6% in the category of Open Ended Equity Linked Savings Schemes (ELSS) for three year period ending December 31, 2010 (from amongst 23 schemes) at ICRA Mutual Fund Awards 2011.
ICICI
PRUDENTIAL
ASSET
MANAGEMENT
COMPANY
LIMITED (AMC):ICICI Prudential Asset Management Company enjoys the strong parentage of Prudential plc, one of UK's largest players in the insurance & fund management sectors and ICICI Bank, a well-known and trusted name in financial services in India. ICICI Prudential Asset Management Company, in a span of just over eight years, has forged a position of pre-eminence in the Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of Rs. 69,754.78 Crore (as of sept 30, 2010). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors spread across 230 cities in the country.
Key indicators
At inception - May 1998 Average Assets Under Management Number of Funds Managed Rs. 160 Crore
As on September 30, 2010 Rs. 69,754.78 Crore
40
SPONSORS
Securities and Exchange Board of India, vide its letter no. MFD/PM/567/02 dated June 4, 2002, has accorded its approval in recognizing ICICI Bank Ltd. as a co-sponsor consequent to the merger of ICICI Ltd. with ICICI Bank Ltd. ICICI Bank is India's second-largest bank with total assets of Rs. 3,997.95 billion (US$ 100 billion) at March 31, 2008 and profit after tax of Rs. 41.58 billion for the year ended March 31, 2008. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalization promoter Free float holding excludes all holdings, strategic investments and
cross holdings among public sector entities. The Bank has a network of about 1,308 branches and 3,950 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates,
China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). (Source: Overview at www.icicibank.com). Headquartered in London, Prudential plc and its affiliated companies together constitute one of the world's leading financial services groups. Prudential provides insurance and financial services in a number of markets around the world, including in Asia, the US, the UK, Europe and the Middle East. Founded in 1848, the company has 249 billion in funds under management (as of 31 December 2008) and more than 21 million customers worldwide. Prudential has been writing life insurance in the United Kingdom for 160 years and has had the largest long-term fund in the United Kingdom, for over a century. In the United Kingdom, Prudential is a leading retirement savings and income solutions and life assurance provider. M&G is Prudential's fund management business in the United Kingdom and Europe, with almost 140 billion in funds under management (as of 31 December 2008). In the United States, Jackson National Life, which we acquired in 1986, is one of the largest life insurance
companies providing retirement savings and income solutions. In Asia, Prudential is the leading Europe-based life insurer in terms of market coverage and number of top three ranking positions. It is also one of the largest and most successful fund managers in Asia with more top five market rankings than any other regional player. Today, Prudential has life insurance and fund management operations spanning 13 diverse markets in Asia. Prudential plc is incorporated and with its principal place of business in the United Kingdom. It is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States.
COMPARISION OF MUTUAL FUNDS

COMPARISON OF MUTUAL FUND SCHEMES OF HDFC MUTUAL FUNDAND PRUDENTIAL ICICI MUTUAL FUND :1. Comparison between HDFC Top 200 Fund and ICICI Prudential Focused Blue-chip Equity Fund :HDFC Top 200 Fund Objective To generate long term capital appreciation from a portfolio of equity and equity-linked instruments primarily drawn from the companies in BSE 200 index. HDFC Mutual Fund HDFC Asset Management Company Ltd. Equity Open Ended ICICI Prudential Focused Bluechip Equity Fund To generate long term capital appreciation from a portfolio of equity and equity-linked instruments primarily drawn from the companies in BSE 200 index. Prudential ICICI Mutual Fund Prudential ICICI Asset Management Co. Ltd. Equity Open Ended
Fund AMC Category Type Of Scheme Inception Date Net Assets (Rs.Crores) Minimum Investment (Rupees)
11/10/1996 23/05/2008 Rs. 9,481.82 crores as Rs. 1,658.17 crores as on 28/02/2011 on 31/12/2010 5000 5000
PERFORMANCE ANALYSIS DIAGRAM :-
INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011) The performance in last 6 months of HDFC Top 200 fund is -5.34% where ICICI Pru Focused Bluechip Equity Fund is -1.4%. The performance in last 1 year of HDFC Top 200 fund is 5.48% where ICICI Pru Focused Bluechip Equity Fund is 8.3%. The performance since inception of HDFC top 200 fund is 14.45% where ICICI Pru Focused Bluechip Equity Fund is 2.75%. Regarding Return (upto 28th Feb 2011) The performance in last 6 months of HDFC Top 200 fund is -3.91% where ICICI Pru Focused Bluechip Equity Fund is -0.13%. The performance in last 1 year of HDFC Top 200 fund is 13.74% where ICICI Pru Focused Bluechip Equity Fund is 15.93%. The performance since inception of HDFC top 200 fund is 24.74% where ICICI Pru Focused Bluechip Equity Fund is 16.92%. FINDINGS :According to study ICICI Pru Focused Bluechip Equity Fund is a better fund for investment as comparison to HDFC Top 200 fund.
PORTFOLIO CHART:-
INTERPRETATION :HDFC Top 200 fund invest their 96% in equity and equity related holdings, 3.65% in other cash, cash equivalent and net current assets. Where ICICI Pru Focused Blue chip equity fund invest their 97% in equity and equity related holdings and 3% in other current assets. 2. Comparison between HDFC Equity Fund-Dividend
and ICICI Pru Dynamic Fund-Dividend :HDFC Equity Fund- Prudential ICICI Dividend Objective Objective: These funds diversify their portfolio evenly across stocks and Fund AMC industry sectors. HDFC Mutual Fund HDFC Asset Management Category Type Of Scheme Inception Date Net Assets (Rs.Crores) Minimum Investment(Rupe es) Company Ltd. Equity - Diversified Open Ended 01/01/1995 Rs.8271.94 crore as on 28/02/2011 5000 Dynamic FundDividend Objective: These funds diversify their portfolio evenly across stocks and industry sectors. Prudential ICICI Mutual Fund Prudential ICICI Asset Management Co. Ltd. Equity - Diversified Open Ended 31/10/2002 Rs. 2,785.39 croresas on 31/12/2010 5000
PERFORMANCE ANALYSIS DIAGRAM:
INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

The performance in last 6 months of HDFC Equity Fund is -6.67% where ICICI Pru Dynamic Fund is -1.4%. The performance in last 1 year of HDFC Equity Fund is 2.88% where ICICI Pru Dynamic Fund is 8.3%. The performance in last 3 years of HDFC Equity Fund is -1.2% where ICICI Pru Dynamic Fund is 0.3%. The performance in last 5 years of HDFC Equity Fund is 9.81% where ICICI Pru Dynamic Fund is 11.64%. The performance since inception of HDFC Equity Fund is 9.54% where ICICI Pru Dynamic Fund is 22.98%.
Regarding Return (upto 28th Feb 2011)

The performance in last 6 months of HDFC Equity Fund is
-4.74% where ICICI Pru Dynamic Fund is 0.74%. The performance in last 1 year of HDFC Equity Fund is 16.87% where ICICI Pru Dynamic Fund is 13.41%. The performance in last 3 years of HDFC Equity Fund is 11.54% where ICICI Pru Dynamic Fund is 8.74%. The performance in last 5 years of HDFC Equity Fund is 17.45% where ICICI Pru Dynamic Fund is 17.25%. The performance since inception of HDFC Equity Fund is 22.36% where ICICI Pru Dynamic Fund is 32.21%.
FINDINGS :
According to study ICICI Pru Dynamic Equity Fund is better fund for investment as comparison to HDFC Equity Fund.
PORTFOLIO CHART:-
INTERPRETATION :HDFC Equity Fund invest their 50.58% in equity and equity related holdings, 0.32% in cash margin, 3.30% in other cash and cash equivalent and 45.80% in top ten equity holdings. Where ICICI Pru Dynamic Equity Fund invest their 37% in top ten equity holdings, 56% in other equity holdings and 7% in other current assets.
3.
Comparison between HDFC Equity Fund-Growth and ICICI Prudential Growth Plan :HDFC Equity FundICICI Prudential Growth plan Objective: These funds diversify their portfolio evenly across stocks and industry sectors. Prudential ICICI Mutual Fund Prudential ICICI Asset Management Co. Ltd. Equity - Diversified Open Ended 09/07/1998 Rs. 3 83.62 croresas on 31/12/2010 5000
Objective
Growth Objective: These funds diversify their portfolio evenly across stocks and industry sectors. HDFC Mutual Fund HDFC Asset Management Company Ltd. Equity - Diversified Open Ended 11/09/2000 Rs.1216.12 crores as on 28/02/2011 5000
Fund AMC
Category Type Of Scheme Inception Date Net Assets (Rs.Crores) Minimum Investment(Rupe es)
PERFORMANCE ANALYSIS DIAGRAM:-

The performance in last 6 months of HDFC Growth Fund is -0.97% where ICICI Pru Growth Plan is -1.4%. The performance in last 1 year of HDFC Growth Fund is 8.44% where ICICI Pru Growth Plan is 8.3%. The performance in last 3 years of HDFC Growth Fund is 0.0% where ICICI Pru Growth Plan is 0.3%. The performance in last 5 years of HDFC Growth Fund is 11.43% where ICICI Pru Growth Plan is 11.64%. The performance since inception of HDFC Growth Fund is 13.58% where ICICI Pru Growth Plan is 14.51%.

The performance in last 6 months of HDFC Growth Fund is
-5.48% where ICICI Pru Growth Plan is 0.42%. The performance in last 1 year of HDFC Growth Fund is 15.98% where ICICI Pru Growth Plan is 10.03%. The performance in last 3 years of HDFC Growth Fund is 5.95% where ICICI Pru Growth Plan is 3.8%. The performance in last 5 years of HDFC Growth Fund is 17.4% where ICICI Pru Growth Plan is 12.39%. The performance since inception of HDFC Growth Fund is 22.17% where ICICI Pru Growth Plan is 22.39%.
FINDINGS :
According to study HDFC Growth Fund is better fund for investment as comparison to ICICI Pru Growth Plan.
PORTFOLIO CHART:-
Interpretation :HDFC Growth Plan invest their 98% in equity and equity holdings and 2% in cash, cash equivalent and net current assets.
Where ICICI Pru Growth Plan invest their 23% in equity and equity related holdings and 77% in other current assets.
4.
Comparison between HDFC Tax Saver and ICICI Prudential Tax Saver:HDFC ICICI Prudential
Objective
TaxSaver Tax Plan To achieve long term To achieve long term growth of capital. growth of capital. Prudential ICICI Mutual Fund Prudential ICICI Asset Management Co. Ltd. Equity Open Ended 19/08/1999 Rs. 1,320.28 croresas on 31/12/2010 500
Fund AMC
HDFC Mutual Fund HDFC Asset Management Company Ltd. Equity Open Ended 31/03/1996 Rs.2767.11crore as on 28/02/2011 500

The performance in last 6 months of HDFC Tax Saver is -6.67% where ICICI Pru Tax Plan is -1.4%. The performance in last 1 year of HDFC Tax Saver is 2.88% where ICICI Pru Tax Plan is 8.3%. The performance in last 3 years of HDFC Tax Saver is -1.2% where ICICI Pru Tax Plan is 0.3%. The performance in last 5 years of HDFC Tax Saver is 9.81% where ICICI Pru Tax Plan is 11.64%. The performance since inception of HDFC Tax Saver is 12.84% where ICICI Pru Tax Plan is 12.68%.

The performance in last 6 months of HDFC Tax Saver is -5.86%
where ICICI Pru Tax Plan is -3.38%. The performance in last 1 year of HDFC Tax Saver is 12.53% where ICICI Pru Tax Plan is 9.99%. The performance in last 3 years of HDFC Tax Saver is 8.05% where ICICI Pru Tax Plan is 7.8%. The performance in last 5 years of HDFC Tax Saver is 13.38% where ICICI Pru Tax Plan is 11.19%. The performance since inception of HDFC Tax Saver is 30.81% where ICICI Pru Tax Plan is 25.11%.
FINDINGS :
According to study ICICI Pru Tax Plan is better fund for investment as comparison to HDFC Tax Saver.
PORTFOLIO CHART:-
Interpretation :-
HDFC Tax Saver invest their 17% in top ten holdings, 20% in other equity holdings and 63% in current assets. Where ICICI Prudential Tax Plan invest their 16% in top ten holdings, 24% in other equity holdings and 60% in current assets.
5.
Comparison
Between
HDFC
Balanced
Fund
and
Prudential ICICI Balanced Plan:HDFC Balanced Fund Prudential ICICI Balanced Plan To generate capital To generate appreciation along with capital current income from a appreciation combined portfolio of along with equity current income & equity-related and from a debt & combined money market portfolio of equity instruments. & equity-related and debt & money market instruments. HDFC Mutual Fund Prudential ICICI Mutual Fund HDFC Asset Prudential ICICI Management Company Asset Ltd. Management Co. Ltd. Hybrid (Equity) Hybrid (Equity) Open Ended Open Ended 11/09/2000 03/11/1999 Rs.238.0279 crores as Rs. 274.21 crores on 28/02/2011 as on 31/12/2010 5000 5000
Objective
Fund AMC

The performance in last 6 months of HDFC Balanced Fund is 0.02% where ICICI Balanced Fund is 0.02%. The performance in last 1 year of HDFC Balanced Fund is 7.49% where ICICI Balanced Fund is 7.49%. The performance in last 3 years of HDFC Balanced Fund is 3.51% where ICICI Balanced Fund is 3.51%. The performance in last 5 years of HDFC Balanced Fund is 10.56% where ICICI Balanced Fund is 10.56%. The performance since inception of HDFC Balanced Fund is 0.0% where ICICI Balanced Fund is 0.0%.

The performance in last 6 months of HDFC Balanced Fund is
-1.63% where ICICI Balanced Fund is 0.28%. The performance in last 1 year of HDFC Balanced Fund is 15.3% where ICICI Balanced Fund is 10.78%. The performance in last 3 years of HDFC Balanced Fund is 11.6% where ICICI Balanced Fund is 1.31%. The performance in last 5 years of HDFC Balanced Fund is 13.96% where ICICI Balanced Fund is 9%. The performance since inception of HDFC Balanced Fund is 17.06% where ICICI Balanced Fund is 13.9%.
FINDINGS :
According to study ICICI Balanced Fund is better for investment as comparison to HDFC Balanced Fund.
PORTFOLIO CHART:-
Interpretation :HDFC Balanced Fund invest their 14% in top 10 equity holdings, 15% in other equity holdings and 71% in Govt. securities, money market instrument and other credit exposure. Where ICICI Pru Balanced Fund invest their 68% in equity holdings, 31% in debt. holdings and -1% in other current assets.
6.
Comparison Between HDFC Core & Satellite and Prudential ICICI Emerging Star Fund:HDFC Core & Prudential ICICI Emerging Star Fund To generate capital Appreciation through equity investment in companies whose shares are quoting at prices below their true value. Prudential ICICI Mutual Fund ICICI Investment Management Company Ltd. Equity - Diversified Dividend Open Ended 28/10/2004 414.74 as on 31/12/2011 5000
Objective
Satellite Fund To generate capital appreciation through equity investment in companies whose shares are quoting at prices below their true value. HDFC Mutual Fund HDFC Asset Management Company Ltd. Equity - Diversified Dividend Open Ended 17/09/2004 394.80 as on 28/02/2011 5000
Fund AMC
Category Scheme Plan Type Of Scheme Inception Date Net Assets (Rs.Crores) Minimum Investment(Rupees )
INTERPRETATION :
The performance in last 1 year of HDFC Core and Satellite
Fund is 5.48% where ICICI Emerging S.T.A.R. Fund is 3.44%. The performance in last 3 years of HDFC Core and Satellite Fund is -0.82% where ICICI Emerging S.T.A.R. Fund is 2.66%. The performance in last 5 years of HDFC Core and Satellite Fund is 11.03% where ICICI Emerging S.T.A.R. Fund is 11.85%. The performance since inception of HDFC Core and Satellite Fund is 18.66% where ICICI Emerging S.T.A.R. Fund is 18.9%.
Regarding Benchmark Return (upto 28th Feb 2011)

The performance in last 6 months of HDFC Core and Satellite Fund is -5.34% where ICICI Emerging S.T.A.R. Fund is -11.64%.

The performance in last 6 months of HDFC Core and Satellite Fund is -6.24% where ICICI Emerging S.T.A.R. Fund is -15.83%. The performance in last 1 year of HDFC Core and Satellite Fund is 12.2% where ICICI Emerging S.T.A.R. Fund is -0.93%. The performance in last 3 years of HDFC Core and Satellite Fund is 6.12% where ICICI Emerging S.T.A.R. Fund is -7.04%. The performance in last 5 years of HDFC Core and Satellite Fund is 12.3% where ICICI Emerging S.T.A.R. Fund is 6.16%. The performance since inception of HDFC Core and Satellite Fund is 22.89% where ICICI Emerging S.T.A.R. Fund is 18.75%.
FINDINGS :
According to study HDFC Core and Satellite Fund is better for investment as comparison to ICICI Emerging S.T.A.R. Fund.
PORTFOLIO CHART:-
INTERPRETATION :HDFC Core and Satellite Fund invest their 13% in top ten holdings, 85% in equity and equity related holdings and 2% in Cash, cash equivalent and net current assets. Where ICICI Pru Emerging S.T.A.R Fund invest their 16% in top ten holdings, 25% in other equity related holdings and 59% in other current assets.
7.
Comparison between HDFC Index Nifty Plan and Prudential ICICI Index Fund:HDFC Index Nifty Prudential ICICI Index Fund To generate returns that are commensurate with the performance of the Nifty, subject to tracking errors. Prudential ICICI Mutual Fund Prudential ICICI Asset Management Co. Ltd. Equity - Index Fund Growth Open Ended 26/02/2002 88.77 as on 31/12/2010 5000
Objective
Plan To generate returns that are commensurate with the performance of the Nifty, subject to tracking errors. HDFC Mutual Fund HDFC Asset Management Company Ltd. Equity - Index Fund Growth Open Ended 17/7/2002 55.42 as on 28/02/2011 5000
Fund AMC
Category Scheme Plan Type Of Scheme Inception Date Net Assets (Rs.Crores) Minimum Investment(Rupe es)

The performance in last 6 months of HDFC Nifty Index Fund is -1.09% where ICICI Nifty Index Plan is -1.4%. The performance in last 1 year of HDFC Nifty Index Fund is 9.46% where ICICI Nifty Index Plan is 9.18%. The performance in last 3 years of HDFC Nifty Index Fund is 1.35% where ICICI Nifty Index Plan is 0.3%. The performance in last 5 years of HDFC Nifty Index Fund is 12.96% where ICICI Nifty Index Plan is 11.64%. The performance since inception of HDFC Nifty Index Fund is 22.76% where ICICI Nifty Index Plan is 18.12%.

The performance in last 6 months of HDFC Nifty Index Fund is
-2.07% where ICICI Nifty Index Plan is -1.3%. The performance in last 1 year of HDFC Nifty Index Fund is 7.51% where ICICI Nifty Index Plan is 9.18%. The performance in last 3 years of HDFC Nifty Index Fund is -0.87% where ICICI Nifty Index Plan is 1.22%. The performance in last 5 years of HDFC Nifty Index Fund is 8.7% where ICICI Nifty Index Plan is 12.89%. The performance since inception of HDFC Nifty Index Fund is 18.97% where ICICI Nifty Index Plan is 19.43%.
FINDINGS : According to study ICICI Nifty Index Plan is better for investment as comparison to HDFC Nifty Index Fund.
PORTFOLIO CHART:-
Interpretation :HDFC Nifty Index Fund invest their 52% in top ten equity holdings, 39% in other equity holdings, 8% in cash margin / earmarked cash for futures and options and 1% in other cash, cash equivalent and net current assets. Where ICICI Pru Nifty Plan invest their 97% in equity holdings and 3% in short-term and other current assets.
ASSET MANAGEMENT COMPANIES (AMCs)

A company formed primarily to act as a manager of another entity, distance control of the other entity from the owners, and absorb liabilities arising from the management function. Company that invests the pooled funds of retail investors for a fee. By aggregating the funds of a large number of small investors into a specific investments (in line with the objectives of the investors), an investment company gives individual investors access to a wider range of securities than the investors themselves would have been able to access. Also, individual investors should be able to save on trading costs since the investment company is able to gain economies of scale in operations. AMCs operating currently are: Name of the AMC Nature of ownership Alliance Capital Asset Management (I) Private Limited Private foreign Birla Sun Life Asset Management Company Limited Private Indian Bank of Baroda Asset Management Company Limited Banks Bank of India Asset Management Company Limited Banks C anbank Investment Management Services Limited Banks Cholamandalam Cazenove Asset Management Company Limited Private foreign Dundee Asset Management Company Limited Private foreign DSP Merrill Lynch Asset Management Company Limited Private foreign Escorts Asset Management Limited Private Indian First India
Asset
Management
Limited
Private
Indian
GIC
Asset Indfund
Management Company Limited Institutions IDBI Investment Management Company Limited Institutions Management Limited Banks ING Investment Asset Management Company Private Limited Private foreign J M Capital Management Limited Private Indian Jardine Fleming (I) Asset Management Limited Private foreign Kotak Mahindra Asset Management Company Limited Private Indian Kothari Pioneer Asset Management Company Limited Private Indian Jeevan Bima Sahayog Asset Management Company Limited Institutions Morgan Stanley Asset Management Company Private Limited Private foreign Punjab National Bank Asset Management Company Limited Banks Reliance Capital Asset Management Company Limited Private Indian State Bank of India Funds Management Limited Banks Shriram Asset Management Company Limited Private Indian Sun F and C Asset Management (I) Private Limited Private foreign Sundaram Newton Asset Management Company Limited Private foreign Tata Asset Management Company Limited Private Indian Credit Capital Asset Management Company Limited Private Indian Templeton Asset Management (India) Private Limited Private foreign Unit Trust of India Institutions Zurich Asset Management Company (I) Limited Private foreign
BRIEF DESCRIPTION ABOUT SOME OF THE AMCS IS:

1) Reliance Capital Asset Management Company Limited (RCAM) Reliance Capital Asset Management Limited (RCAM), a company registered under the Companies Act, 1956 was appointed to act as the Investment Manager of Reliance Mutual Fund. Reliance Capital Asset Management Limited is a wholly owned subsidiary of Reliance Capital Limited, the sponsor. The entire paid-up capital (100%) of Reliance Capital Asset Management Limited is held by Reliance Capital Limited. Reliance Capital Asset Management Limited was approved as the Asset Management Company for the Mutual Fund by SEBI vide their letter no IIMARP/1264/95 dated June 30, 1995. The Mutual Fund has entered into an Investment Management Agreement (IMA) with RCAM dated May 12, 1995 and was amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 1996. Pursuant to this IMA, RCAM is authorized to act as Investment Manager of Reliance Mutual Fund. The net worth of the Asset Management Company including preference shares as on March 31, 2005 is Rs.30.13 crores. Reliance Mutual Fund has launched twenty five Schemes till date, namely: Reliance Vision Fund (September 1995), Reliance Growth Fund (September 1995) Reliance Income Fund (December 1997),
Reliance Liquid Fund (March 1998), Reliance Medium Term Fund (August 2000), Reliance Short Term Fund (December 2002), Reliance Fixed Term Scheme (March 2003), Reliance Banking Fund (May 2003), Reliance Gilt Securities Fund (July 2003), Reliance Monthly Income Plan (December 2003), Reliance Diversified Power Sector Fund (March 2004) Reliance Pharma Fund ( May 2004), Reliance Floating Rate Fund (August 2004), Reliance Media & Entertainment Fund (September 2004), Reliance NRI Equity Fund (October 2004), Reliance NRI Income Fund (October 2004), Reliance Index Fund (January 2005), Reliance Equity Opportunities Fund (February 2005), Reliance Fixed Maturity Fund Series I (March 2005), Reliance Fixed Maturity Fund - Series II (April 2005), Reliance Regular Saving Fund (May 2005), Reliance Liquidity Fund (June 2005), Reliance Tax Saver (ELSS) Fund (July 2005), Reliance Fixed Tenor Fund (November 2005) and Reliance Equity Fund (Feb 2006). RCAM has been registered as portfolio managers vide SEBI Registration No. INP000000423 and renewed effective 1st August, 2003. RCAM has commenced these activities. It has been ensured that key personnel of the AMC, the systems, back office, bank and securities accounts are segregated activity wise and there exists systems to prohibit access to inside information of various activities. As per SEBI Regulations, it will further ensure that AMC meets the capital adequacy requirements, if any, separately for each such activity. RCAM has been appointed as the Investment Manager of "Reliance India Power Fund", a Venture Capital Fund registered with SEBI vide Registration no.IN/VCF/05-06/062 dated June 16,
2005 but this activity is yet to commence. 2) Birla Sun Life Asset Management Company Limited (BSLAMC) Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Mutual Fund, 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 Groups' experience in the Indian market and Sun Life's global experience. Since its inception in 1994, Birla Mutual Fund has emerged as one of India's leading Mutual Funds with over Rs. 16,500 crores * of assets under management and an investor base in excess of 8 lakhs. The fund offers a range of investment options, which include diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds. BSLAMC is the first asset management company in India to be awarded the coveted ISO 9001:2000 certification by DNV, Netherlands. BSLAMC also provides private Wealth Management services. BSLAMC follows a long-term, fundamental research based approach to investment. The approach is to identify companies, which have excellent growth prospects and strong fundamentals. The fundamentals include the quality of the companys management, sustainability of its business model and its competitive position, amongst other factors. Birla Sun
Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in. Birla Sun Life AMC strives to provide transparent, ethical and research-based investments and wealth management services. Vision To be the most trusted name in investment and wealth management, to be the preferred employer in the industry and to be a catalyst for growth and excellence of the asset management business in India. Mission To consistently pursue investor's wealth optimization by: 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. Values Integrity Commitment Passion Seamlessness Speed 3) Sundaram Newton Asset Management Company
Sundaram BNP Paribas Mutual has assets under management to the tune of more than USD 1 billion helps investors to reach their financial goals by delivering consistent performance through judicious investment practices. Vision To be a significant player in the Indian asset management space and be one of the top ten asset managers. Mission To provide people the best experience in accessing financial markets. Philosophy To take the least cost and most effective solution Never ever take short-cuts Admit and share mistakes - internally Take necessary steps to avoid repetition of work Respect others, their needs, religion and sentiments Be on time always Communicate freely and maintain confidentiality Develop and maintain trust Work as a coherent team
4)
Kotak Mahindra Asset Management Company Limited (KMAMC)
Kotak Mahindra Mutual Fund (KMMF) is managed by Kotak Mahindra Asset Management Company Ltd., a wholly owned subsidiary of Kotak Mahindra Bank Ltd. Kotak Mahindra Mutual Fund launched its Schemes in
December 1998 and today manages over Rs.13,635.83 crores of assets from close to 4,34,622 investors in various schemes. Kotak Mahindra is one of India's leading financial institutions, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporates. The group has a net worth of over Rs. 2,500 crore, employs around 6,700 people in its various businesses and has a distribution network of branches, franchisees, representative offices and satellite offices across 250 cities and towns in India and offices in New York, London, Dubai and Mauritius. The Group services over 1.6 million customer accounts. Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly owned subsidiary of KMBL, is the asset manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in December 1998 and has close to 4, 27,450 investors in various schemes. KMMF offers schemes catering to investors with varying risk -return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in
government securities. 5) ING Investment Asset Management Company
Private Limited (INGIM) ING Group is a global financial services company of Dutch origin with 150 years of experience, providing a wide array of banking, insurance and asset management services in over 50 countries. Our 114,000 employees work daily to satisfy a broad customer base: individuals, families, small businesses, large corporations, institutions and governments. Based on market capitalization, ING is one of the 20 largest financial institutions worldwide and in the top-10 in Europe. Mission We strive to deliver our financial products and services in the way our customers expect with exemplary service, maximum convenience and at competitive rates. This is reflected in our mission statement: To set the standard in helping our customers manage their financial future. Stakeholders ING conducts its business on the basis of clearly defined business principles. In all our activities we carefully weigh the interests of our stakeholders: customers, employees, shareholders, business partners and society at large. ING strives to be a good corporate citizen. ING Investment Management Limited (INGIM) is part of the specialist investment network of ING Group. INGIM employs
around
2,300
staff
in
29
countries
across
three
broad
geographic regions: Europe, the Americas and Asia Pacific. Its global assets under management total more than a$563 billion as at 30 September 2005. Combining rigorous research and integrated risk management, INGIMs team of investment professionals is expert in managing investments across all major asset classes, including Australian shares, international shares, property securities and fixed interest. INGIMs investment approach INGIMs investment philosophy maintains that markets have inefficiencies and active portfolio management should generate superior long-term investment returns. INGIM aims to deliver consistently attractive returns for investors over the long term at acceptable levels of risk. INGIM believes that investment markets are ultimately driven by trends in the economic cycle, and a particular asset class tends to perform differently to other asset classes at any given point in the cycle. INGIMs active portfolio management aims to take advantage of asset class trends, adding value and managing risk. INGIMs multi sector and international share funds have exposure to foreign currency. Foreign currency is actively managed with a view to increasing the return available in Australian dollars for the benefit of the total portfolio. Active currency management means buying undervalued currencies
and selling overvalued currencies. 6) TATA Asset Management Company
Tata Asset Management is one of India's fastest-growing fund management companies, with over Rs 6,200 crore of assets under management from over 350,000 investors. Established in 1995, it is also one of the oldest fund management companies in the Indian private sector. Tata Asset Management is focused on identifying investment avenues to generate medium term returns for corporate investors. The company uses the latest and the best fund management processes and techniques to service its organizational clients through 16 branches across the country, associates in seven other cities in India and 57 investor servicing centers. The company offers a wide range of investment products for institutional investors, with schemes which include equity / debt and balanced options across the risk-return spectrum. Among these are: Tata Pure Equity Fund (invested in fundamentally
undervalued companies with a medium-term horizon. Tata Equity Opportunities Fund (aimed to capitalizing on opportunities in the equity market).
Tata Life Sciences and Technology Fund (invested mainly in fast-growing, intellectual property-driven, new-economy sectors).
Tata Select Equity Fund (invested predominantly in growing basic sectors).
Tata
Growth
Fund
(invested
in
growth-oriented
companies). Tata Equity P/E Fund (invested predominantly in
undervalued companies). Tata Dividend Yield Fund (invested predominantly in stocks with high dividend yields). Tata Tax Saving Fund (equity-linked tax-saving scheme). Tata Balanced Fund (balanced exposure to both equities and debt). Tata Income Fund (invested in high-quality fixed-income securities). Tata Gilt Securities Fund (invested exclusively in
government securities). Tata Short Term Bond Fund (invested mainly in short-term, fixed-income and money-market securities). Tata Income Plus Fund (invested in high-quality debt securities). Tata Dynamic Bond Fund (invested across asset and maturity segments).
7)
State Bank of India Funds Management Limited
Banks The greater sophistication and diversity of investors' asset management needs requires investment management firms to offer, in a timely manner, products that meet the needs of a wide range of investors. SBI Asset Management leverages its position as an independent management company, and utilizes domestic and overseas resources, to offer investors not just conventional financial products, such as domestic and overseas stocks and bonds, but alternative investment products as well, including unlisted stocks and hedge funds. Investing in Promising Unlisted Stocks. Very few asset management companies offer investors a chance to invest in unlisted stocks through public subscription investment trust, because this requires sophisticated know-how that differs from conventional listed stock investing. SBI Asset Management leverages the know-how it has accumulated through years of experience in the SBI Group discovering promising new companies, carrying out due diligence, following up on business trends to offer investors an opportunity to invest in unlisted stocks through mutual funds.
CONCLUSION
Running a successful Mutual Fund requires complete understanding of the peculiarities of the Indian Stock Market and also the psyche of the small investors. This study has made an attempt to understand the financial behavior of Mutual Fund investors in connection with the preferences of Brand (AMC), Products, Channels etc. I observed that many of people have fear of Mutual Fund. They think their money will not be secure in Mutual Fund. They need the knowledge of Mutual Fund and its related terms. Many of people do not have invested in mutual fund due to lack of awareness although they have money to invest. As the awareness and income is growing the number of mutual fund investors are also growing. Brand plays important role for the investment. People invest in those Companies where they have faith or they are well known with them. There are many AMCs. Some are performing well due to Brand awareness. Some AMCs are not performing well although some of the schemes of them are giving good return because of not awareness about Brand. Reliance, UTI, SBIMF, ICICI Prudential etc. they are well known Brand, they are performing well and their Assets Under Management is larger than others whose Brand name are not well known like Principle, Sunderam, etc. Through our study we compare the various mutual fund schemes of HDFC and ICICI mutual fund and this will be beneficial for the general investors for their decision making related to mutual fund investment.
FINDINGS
According to our study we found that : ICICI Focused Bluechip Equity fund is better as compare to HDFC Top 200 Fund. ICICI Pru Dynamic Equity Fund is better as compare to HDFC Equity Fund. HDFC Growth Plan is better fund as comparison to ICICI Pru Growth Plan. ICICI Pru Tax Plan is better as comparison to HDFC Tax Saver. ICICI Balanced Fund is better as comparison to HDFC Balanced Fund. HDFC Core and Satellite Fund is better as comparison to ICICI Emerging S.T.A.R Fund. ICICI Nifty Index Plan is better as comparison to Nifty Index Plan.
SUGGESTION
ICICI Pru Mutual Fund have better fund management, but in ICICI Pru Growth Plan and ICICI Emerging S.T.A.R. fund they have to improve their fund management for better performance in future. HDFC performance investment. Mutual in Fund have and to improve more their investors fund for
management to compete with ICICI Mutual Funds for better future attract
BIBLIOGRAPHY

TELEVISION CHANNEL (CNBC AAWAJ) MUTUAL FUND HAND BOOK WWW.MONEYCONTROL.COM WWW.AMFIINDIA.COM WWW. MUTUALFUNDSINDIA.COM WWW.ICICIPRUAMC.COM WWW.HDFCFUND.COM
Certificate of the Guide

This is to certify that Jashobanta Sahoo, Final year BBA, Ravenshaw University has successfully
completed the entrepreneurship project Comparative Study On The Performance Of HDFC Mutual Fund & ICICI Prudential Mutual Fund under my
guidance.
Date :
Mukesh Agarwall Branch Manager ICICI Mutual Fund Cuttack Branch
Declaration
I Jashobanta Sahoo declare that this project report entitled Comparative Of HDFC Study Fund On & The ICICI
Performance
Mutual
Prudential Mutual Fund is an original piece of work done and submitted by me towards partial fulfillment of my Bachelor in Business Administration.
Jashobanta Sahoo
Acknowledgement
Study is an excellent tool for learning and exploration. No classroom routine can substitute which is possible while working in real situations. Application of theoretical knowledge to practical situations is the bonanzas of this survey. Without a proper combination of inspection and
perspiration, its not easy to achieve anything. There is always a sense of gratitude, which we express to others for the help and the needy services they render during the different phases of our lives. I too would like to do it as I really wish to express my gratitude toward all those who have been helpful to me directly or indirectly during the development of this project. Sometimes words fall short to show gratitude, the same happened to me during this project. The immense help and support received from HDFC Mutual Fund & ICICI Prudential overwhelmed me during this project.
I am highly indebted to Mrs. Madhumala Tripathy, who has provided me with the necessary information and her
valuable suggestions and comments on bringing out this report in the best possible way. I also thank our head of the department Mr. Rajesh Kumar Sain, who has sincerely supported me at the
foundation stage of the project. I also thank to Mr. Mukesh Agarwall (Branch manager ICICI mutual fund )to give their valuable time and suggestion to us regarding completion of this project Last but not the list; my heartfelt love for my parents, whose constant support and blessings helped me throughout this project.
Jashobanta Sahoo

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A Report On comparative study on the performance of hdfc and icici prudential mutual funds

Submitted By: Shubhransu kumar patel

18. Comparison of Mutual Fund

21. Conclusion 22. Findings 23. Suggestion

OBJECTIVE OF THE STUDY

MUTUAL FUNDS IN INDIA

GROWTH AND PREFORMANCE OF MUTUAL FUND

PHASE 4 (BEYOND 1997)

STRUCTURE OF THE INDIAN MUTUAL FUND INDUSTRY

RECENT TRENDS IN MUTUAL FUND INDUSTRY

ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI)

THE OBJECTIVES OF ASSOCIATION OF MUTUAL FUNDS IN INDIA

with other bodies.

THE SPONSOR OF ASSOCIATION OF MUTUAL FUNDS IN INDIA

THE THREE BASIC FEATURES OF MUTUAL FUNDS

HOW TO INVEST IN MUTUAL FUND

Step Two -Choose the right Mutual Fund

Step Three -Select the ideal mix of Schemes

Step Four -Invest regularly

Step Five-Start early

Step Six -The final step

RIGHTS OF A MUTUAL FUND UNIT HOLDER

Change the Asset Management Company. Wind up the schemes.

ADVANTAGES OF MUTUAL FUND

LIMITATIONS OF MUTUAL FUNDS

TYPES OF MUTUAL FUNDS

Bank sector schemes Auto sector schemes, etc,

PLANS OF MUTUAL FUNDS

Dividend payout plan

Housing Development Corporation Limited Standard Life Investments Limited

ICRA Mutual Fund Awards 2011

As on September 30, 2010 Rs. 69,754.78 Crore

COMPARISION OF MUTUAL FUNDS

PERFORMANCE ANALYSIS DIAGRAM :-

PERFORMANCE ANALYSIS DIAGRAM:

INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

PERFORMANCE ANALYSIS DIAGRAM:-

INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

PERFORMANCE ANALYSIS DIAGRAM:-

INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

PERFORMANCE ANALYSIS DIAGRAM:-

INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

PERFORMANCE ANALYSIS DIAGRAM:-

Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

PERFORMANCE ANALYSIS DIAGRAM:-

INTERPRETATION : Regarding Benchmark Return (upto 28th Feb 2011)

Regarding Return (upto 28th Feb 2011)

ASSET MANAGEMENT COMPANIES (AMCs)

BRIEF DESCRIPTION ABOUT SOME OF THE AMCS IS:

Kotak Mahindra Asset Management Company Limited (KMAMC)

government securities. 5) ING Investment Asset Management Company

and selling overvalued currencies. 6) TATA Asset Management Company

Tata Select Equity Fund (invested predominantly in growing basic sectors).

companies). Tata Equity P/E Fund (invested predominantly in

State Bank of India Funds Management Limited

Certificate of the Guide

Mukesh Agarwall Branch Manager ICICI Mutual Fund Cuttack Branch

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