EXECUTIVE SUMMARY

The project title “A STUDY AND ANALYSIS OF MUTUAL FUNDS AND

PREFERENCES OF THE INVESTORS FOR INVESTMENT IN MUTUAL FUNDS
THROUGH ICICI SECURITIES” was a study conducted during my two months internship
with ICICI SECURITIES LTD. The aim of the study is to know the picture involved in
mutual funds and its impact on the investors who are attracted towards diversified portfolios,
which involves high risk and hence, high returns.
The aim of the study is to know the picture involved in mutual funds and its impact on the
investors who are attracted towards diversified portfolios, which involves high risk and hence,
high returns.
This investor perception on mutual fund market has given a glimpse of trading involved in
relation with equities, futures and options, in comparison with other existing investment
options.
The project report is on customer perception towards mutual fund and gives a clear picture of
what consumers think about mutual fund as an investment opportunity. From this report we
can know that mutual fund can still capture more of the market share in financial instruments.
Mutual funds have several advantages over other investment and hence it is important to know
the customer perception so that unaware consumers can be made aware. Also, it may help to
capture the customers who have not yet invested in mutual funds.
The report uses primary as well as secondary research to provide better understanding of
customer perception and also tells about preferences of customers when it comes to buying
financial instruments.

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 INDEX

SR.NO PARTICULARS PAGE

NO.
1. INTRODUCTION TO STUDY
1.1 ABOUT MUTUAL FUNDS
1.2 OBJECTIVE OF THE STUDY
1.3 LIMITATIONS OF THE STUDY
2. ORGANIZATION PROFILE AND INSIGHT OF THE BUSINESS
ENVIRONMENT
2.1 ICICI GROUP
2.2 VISION & MISSION
2.3 INTRODUCTION TO ICICI SECURITIES
2.4 ICICI DIRECT
2.5 ICICI DIRECT TRADING PLATFORMS
2.6 MARKET SHARE
2.7 VARIOUS INVESTMENT OPTIONS AVAILABLE AT ICICI
SECURITIES LTD.
2.8 SWOT ANALYSIS OF ICICI SECURITIES
3. LITERATURE REVIEW
4. RESEARCH METHODOLOGY
4.1 RESEARCH DESIGN
4.2 SOURCE OF DATA
4.3 DATA COLLECTION METHOD
4.4 POPULATION
4.5 SAMPLING METHOD
4.6 SAMPLING FRAME
5. DATA ANALYSIS AND INTERPRETATION
6. FINDINGS, SUGGESTIONS AND CONCLUSION
7. BIBLIOGRAPHY AND ANNEXURE

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 CHAPTER 1

INTRODUCTION TO STUDY

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1.1 ABOUT MUTUAL FUNDS

The mutual trust is organized around a genuinely basic idea, the alleviation of risk through the
spreading of ventures over various elements, which is accomplished by the pooling of various
little speculations into a huge basket. Yet, it has been the subject of maybe the most expound
and delayed administrative exertion ever. The mutual fund industry has developed to huge
extents in nations like the USA, in India it is still in the period of outset.

The mutual fund industry in India is growing at an exponential pace. The Indian mutual fund
industry recorded an Average Assets Under Management (AAUM) of Rs. 23.16 trillion as on
February 28, 2019. The AAUM of the industry stood Rs. 5.09 trillion on February 28, 2009,
which means the Indian mutual fund industry has registered a more than 4 ½ fold increase in a
period of 10 years.

There are as many as 44 AMFI (Association of Mutual Funds in India) registered fund houses
in India which together offer more than 2,500 mutual fund schemes.

A mutual fund is an investment instrument which pools in money from different investors and
invests the collected corpus in a set of different asset classes such as equity, debt, gold, foreign
securities etc. Mutual funds are becoming increasingly popular in India due to the various
benefits they come with. Mutual funds feature an attractive performance history of returns
higher than those earned on conventional instruments of investment. Mutual funds enable
investors to create diversified investment portfolios with investments as low as Rs. 500.

Another feature which makes mutual funds a preferred choice among investors is the
professional management of funds. A mutual fund is managed by a fund manager who is an
expert carrying vast experience in the investment industry. This provides an assurance to the
investors that their money is in safe and secure hands. Another fact which further strengthens
investors’ confidence in mutual fund is that they are regulated by capital markets regulator
SEBI (Securities and Exchange Board of India) and AMFI (Association of Mutual Funds in
India).

Types of Mutual Funds in India

As per SEBI, mutual funds can be broadly classified into 3 categories – Equity Funds, Debt
Funds and Hybrid Funds.

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Equity Funds: An equity fund is a mutual fund which invests a minimum of 65% of its assets
in equity and equity related instruments. It can invest the balance 0%-35% in debt or money
market securities. Equity funds are capable of giving relatively high returns as they primarily
invest in stocks of companies which are responsive to changes in the stock market and the
economy. Due to this reason, equity funds also come with a relatively higher risk quotient. As
per SEBI classification, there are 11 types of equity funds. Among them one of the most
popular ones is ELSS – Equity Linked Savings Scheme. An ELSS invests a minimum of 80%
of its total assets in equities. An ELSS is the only equity fund which is eligible for a tax
deduction of up to Rs. 1.5 lakh under section 80C of the Income Tax Act. An ELSS comes with
a lock-in period of 3 years.

Debt Funds: A debt fund is a mutual fund which invests a majority of its assets in debt and
money market securities. According to the Income Tax Act, a mutual fund which invests less
than 65% of its total assets in equities is termed as a debt fund. Debt funds are preferred by
investors mainly because they come with relatively lower levels of risk. Since they undertake
lower risk, debt funds in India yield returns which though higher than returns offered by fixed
return investments, tend to be lower than those provided by equity funds in the long term. As
per SEBI classification, there are as many as 16 types of debt funds.

The most popular type of debt fund in terms of AUM (Assets Under Management) is liquid
fund as they are often used by corporations to park their excess cash for short periods. A liquid
fund predominantly invests in debt and money market securities with maturities of up to 91
days. Due to the shorter maturity period, liquid funds feature the least amount of risk among
all debt funds. Liquid funds generally give returns that are higher than savings accounts and at
par with fixed deposits while being a lot more liquid than the latter.

Hybrid Funds: As the name suggests, a hybrid fund is a mutual fund which invests its assets
in two or more asset classes including equities, debt, money market instruments, gold, overseas
securities, etc. A hybrid fund generally invests in only two asset classes namely equity and
debt. The blend of equity and debt enables a hybrid fund to give returns similar to those
generated by equity funds while undertaking relatively lower risk levels like debt funds. As per
SEBI classification, there are 7 types of hybrid funds.

The most popular type of scheme in this category is the Dynamic Asset Allocation Fund. A
Dynamic Asset Allocation Fund has the flexibility to invest any amount between 0%-100% of

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its assets in either equity or debt. Typically, this type of fund aims to sell equities and book
profits in overvalued equity market conditions while doing the reverse when equity market
valuations are attractive. A Dynamic Asset Allocation Fund decreases its debt exposure in
undervalued markets and increases its debt holding during a bull run.

Benefits of Mutual Fund Investments

The following are the benefits of investing in mutual funds:

Flexible Investment Amounts

A mutual fund investment can be started with an amount as low as Rs. 500 while there is no
limit on the maximum amount you can invest. But do keep in mind that in case of ELSS
investments, you get the tax benefit only up to the Rs. 1.5 lakh 80C limit in a financial year.

Professional Management of Funds

With mutual fund, an investor can benefit from the professional management of his/her funds
by an expert fund manager. Fund houses charge a nominal fee for the administration and
management of a mutual fund scheme called Expense Ratio. The expense ratio of a mutual
fund generally ranges between 0.5% to 1.5% and cannot exceed the limit of 2.5% set by SEBI.
Fund houses always mention the returns generated by a mutual fund scheme after deducting
the applicable expense ratio.

High Returns

Mutual funds offer long term returns that range from 7% (in lowest risk carrying liquid funds)
and 15% or higher in case of most equity funds over a 5 year period. These inflation beating
returns provided by mutual funds are one of the key reasons why many are choosing these
market-linked investments over fixed income instruments such as fixed deposits.

Diversification

Mutual funds allow investors to access a wide and diversified investment portfolio that can
include equities of varying market capitalisations as well as debt and money market instruments
for an investment amount which can be as low as Rs. 500. The diversified investment portfolio
allows a mutual fund to provide an unmatched balance between risk and return.

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Systematic Investment Option

A systematic investment plan (SIP) is a method of investing in mutual funds which allows
investors to invest a fixed sum in a mutual fund scheme at predetermined intervals (daily,
weekly, monthly, bi-annual or annual). SIP investments reduce the potential financial risk
associated with a lump sum investment. It also enables an investor to increase/decrease the
investment in line with the current financial situation of the investor.

Tax Benefit

An Equity Linked Savings Scheme (ELSS) is a type of mutual fund which helps an investor in
getting a tax benefit in addition to the above-mentioned benefits. An ELSS comes with a lock-
in period of 3 years and every ELSS investment qualifies for a tax deduction of up to Rs. 1.5
lakh under Section 80C of the Income Tax Act. Even in the case of other (non-ELSS) equity
schemes, capital gains from unit redemption up to Rs. 1 lakh in a fiscal are exempt from tax.

How Do Mutual Funds Work?

While you might have heard many experts say that investing in mutual funds is one of the best
ways to grow your wealth, it is perhaps even more important to know how mutual funds work.
Let’s understand the working of mutual funds right from the time an Asset Management
Company (AMC) or fund house decides to launch a mutual fund till it starts giving attractive
returns:

1. The process begins when a fund house identifies a potential money-making opportunity in
the market subject to key risks.
2. The fund house then weighs the newly identified opportunity against existing investment
opportunities and analyses how it can add further value for current investors.
3. The fund house then appoints a fund manager who creates a portfolio of different asset
classes including equities, debt and money market securities. The asset allocation of the
scheme decides under which mutual fund category the scheme will fall – Equity Fund, Debt
Fund or Hybrid Fund.
4. The fund manager then compiles all the details including the scheme’s asset allocation, risk
level, etc in a document and files the draft with market regulator SEBI for its approval.

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5. After receiving SEBI’s approval, the fund house makes the scheme available to the public
for subscriptions through a New Fund Offer (NFO). An NFO generally lasts for 7-10 days.

On the basis of the subscription period, mutual fund schemes can be classified as open-ended
and close-ended schemes. An open-ended mutual fund scheme allows investors to enter and
exit the fund anytime even after the closure of the NFO period. Whereas, a close-ended fund
allows investors to enter into the scheme only during the NFO period and does not allow them
to exit it until maturity which is typically 3-4 years from the launch date.

1. After receiving the initial subscription, the fund manager manages the scheme actively or
passively depending on the scheme’s requirements as well as market/economic conditions.
2. A mutual fund investment provides earning to its investors in the form of dividend payouts
and capital gains.

Dividends Pay-out by Mutual Funds in India

Two key variants of a typical mutual fund are – dividend option and growth option. If you opt
for the dividend option, the fund house may declare and pay you a dividend as and when there
is a distributable surplus (profit). Whereas, if you opt for the growth option, the fund house
reinvests these profits and increases the fund’s NAV (Net Asset Value) in the long term instead
of paying out dividends.

Capital Gains

Capital gains refer to the difference between the amount invested and the redemption value of
the mutual fund scheme. Capital gains are paid to investors at the time of redemption of a
mutual fund scheme and are subject to applicable capital gains taxation rules.

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10 Most Popular Mutual Fund Houses in India

Below is a list of the 10 most popular mutual fund houses in India on the basis of their total
assets under management (AUM) as of March 31, 2019.

Sr.No. Name of Fund House AUM (in Crore)

1 HDFC Mutual Fund Rs. 3,42,525

2 ICICI Prudential Mutual Fund Rs. 3,21,281

3 SBI Mutual Fund Rs. 2,84,124

4 Aditya Birla Sun Life Mutual Fund Rs. 2,46,696

5 Reliance Mutual Fund Rs. 2,34,293

6 UTI Mutual Fund Rs. 1,59,694

7 Kotak Mahindra Mutual Fund Rs. 1,50,271

8 Franklin Templeton Mutual Fund Rs. 1,19,933

9 Axis Mutual Fund Rs. 89,768

10 DSP Mutual Fund Rs. 78,363

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10 Most Popular Mutual Fund Schemes in India

The following is a list of the 10 most popular mutual funds in India based on their AUM as of
February 28, 2019:

Sr.No. Name of Scheme AUM (in Crore) Type of Scheme

1 HDFC Liquid Fund Rs. 69,397 Debt

2 ICICI Prudential Liquid Fund Rs. 59,354 Debt

3 Aditya Birla Sun Life Liquid Fund Rs. 57,548 Debt

4 HDFC Balanced Advantage Fund Rs. 37,395 Hybrid

5 ICICI Prudential Balanced Advantage Fund Rs. 28,499 Hybrid

6 SBI Equity Hybrid Fund Rs. 27,907 Hybrid

7 Kotak Standard Multicap Fund Rs. 21,628 Equity

8 Aditya Birla Sun Life Frontline Equity Fund Rs. 20,664 Equity

9 HDFC Mid Cap Opportunities Fund Rs. 20,539 Equity

10 HDFC Equity Fund Rs. 20,465 Equity

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The 1 year, 3 years and 5 years return details of the above-mentioned 10 most popular mutual
fund schemes are as follows:

Name of Scheme 1 Year Return 3 Year Return 5 Year Return

HDFC Liquid Fund 7.33% 7.09% 7.70%

ICICI Prudential Liquid Fund 7.48% 7.20% 7.77%

Aditya Birla Sun Life Liquid Fund 7.51% 7.24% 7.81%

HDFC Balanced Advantage Fund -1.30% 18.35% 15.16%

ICICI Prudential Balanced Advantage

2.53% 12.78% 12.25%
Fund

SBI Equity Hybrid Fund 0.76% 12.66% 15.12%

Kotak Standard Multicap Fund -0.19% 17.64% 18.30%

Aditya Birla Sun Life Frontline Equity

-2.56% 14.25% 14.35%
Fund

HDFC Mid Cap Opportunities Fund -10.69% 16.32% 19.33%

HDFC Equity Fund -1.88% 19.38% 15.25%

How are Mutual Funds Taxed in India?

It is very important to know and understand the tax implications on mutual funds. There are
two types of earnings from a mutual fund investment – Dividends and Capital Gains – and both
are taxed differently. While the mutual fund house deducts Dividend Distribution Tax (DDT)
from the dividend paid to you at 10%, capital gains tax is taxable in the hands of the investor.

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Asset
Holding Period Rate of Tax on Capital Gains
Class

Equity
Short Term (Less than 1 Year) 15%
Fund

Equity
Long Term (1 Year and more) * 10%*
Fund

Debt Fund Short Term (Less than 3 Years) As per investor’s income tax slab

Debt Fund Long Term (3 Years and more) 20% with indexation

Equity-
Oriented
Aggressive hybrid funds are taxed like equity funds.
Hybrid
Funds

Other
If more than 65% of assets of these funds are invested in equity, then hybrid funds
Hybrid
are taxed like an equity fund. Otherwise, they are taxed as debt funds.
Funds

*Long-term capital gains on equity mutual funds are exempt up to Rs. 1 lakh per annum.

1.4 OBJECTIVE OF THE STUDY

 To study various investment alternatives and in particular, investors preference towards
mutual funds.
 To study the preference of investors in today’s scenario (less risk and more return).
 To assess the risk of investors with reference to diversifiable risk & non diversifiable risk.
 To study market potentiality of mutual fund among investors.

For fulfilling these objectives, literature review is carried out and has been discussed. It is
followed by research methodology of the study, the analysis and interpretation. Findings,
suggestions and conclusions are thus derived in the end.

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1.3 LIMITATIONS OF THE STUDY

Much interaction has not been possible with the customer due to
 Indifference or uninterested of the customers to interact with me
 Different perceptions about the investment options
 The non-availability of time to them.
Many investors think mutual funds and shares are the one and same.

In survey, most of the respondents were male who could not take the perceptions of the female
investors.

1.4 SCOPE OF THE STUDY

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 CHAPTER 2

ORGANIZATION PROFILE AND INSIGHT OF THE BUSINESS

ENVIRONMENT

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 (ICICI SECURITIES LTD.)

NAME: ICICI SECURITIES LIMITED

ADDRESS: SWARGATE

LOCATION: PUNE

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2.1 ICICI GROUP

The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at the
initiative of the World Bank, the Government of India and representatives of Indian industry,
with the objective of creating a development financial institution for providing medium-term
and long-term project financing to Indian businesses. Mr. A. Ramaswami Mudaliar elected as
the first Chairman of ICICI Securities. ICICI emerges as the major source of foreign currency
loans to Indian industry. Besides funding from the World Bank and other multi-lateral agencies,
ICICI was also among the first Indian companies to raise funds from international markets.
ICICI Group offers a wide range of banking products and financial services to corporate and
retail customers through a variety of delivery channels and through its specialized group
companies and subsidiaries in the areas of personal banking, investment banking, life and
general insurance, venture capital and asset management. With a strong customer focus, the
ICICI Group Companies have maintained and enhanced their leadership positions in their
respective sectors.

ICICI Group consists of following companies:

i) ICICI Bank

ICICI Bank is India's second-largest bank with total assets of Rs. 4,736.47 billion (US$ 93
billion) at March 31, 2012 and profit after tax Rs. 64.65 billion (US$ 1,271 million) for the
year ended March 31, 2012. The Bank has a network of 2,791 branches and 10,021 ATMs in
India, and has a presence in 19 countries, including India.

ii) ICICI Prudential Life Insurance

ICICI Prudential Life Insurance is a joint venture between ICICI Bank, a premier financial
powerhouse, and Prudential plc, a leading international financial services group headquartered
in the United Kingdom. ICICI Prudential Life was amongst the first private sector insurance
companies to begin operations in December 2000 after receiving approval from Insurance
Regulatory Development Authority (IRDA). ICICI Prudential Life's capital stands at Rs. 47.91
billion (as of March 31, 2012) with ICICI Bank and Prudential plc holding 74% and 26% stake
respectively. For FY 2012, the company garnered Rs.140.22 billion of total premiums.

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iii) ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company is a joint venture between ICICI Bank Limited,
India's second largest bank with consolidated total assets of over USD 91 billion at March 31,
2012 and Fairfax Financial Holdings Limited, a Canada based USD 30 billion diversified
financial services company engaged in general insurance, reinsurance, insurance claims
management and investment management. ICICI Lombard GIC Ltd. is the largest private
sector general insurance company in India with a Gross Written Premium (GWP) of Rs. 5,358
crores for the year ended March 31, 2012. The company issued over 76 lakh policies and settled
over 44 lakh claims and has a claim disposal ratio of 99%.

iv) ICICI Securities Ltd

ICICI Securities Ltd is the largest integrated securities firm covering the needs of corporate
and retail customers through investment banking, institutional broking, retail broking and
financial product distribution businesses. Among the many awards that ICICI Securities has
won, the noteworthy awards for 2012 were: Asia money `Best Domestic Equity House for
2012’, 'BSE IPF D&B Equity Broking Awards 2012' under two categories:- Best Equity
Broking House - Cash Segment and Largest E-Broking House; the Chief Learning Officer
Award from World HRD Congress for Innovation in Learning category.

v) ICICI Securities Primary Dealership Limited (‘I-Sec PD’)

ICICI Securities Primary Dealership Limited (‘I-Sec PD’) is the largest primary dealer in
Government Securities. It is an acknowledged leader in the Indian fixed income and money
markets, with a strong franchise across the spectrum of interest rate products and services -
institutional sales and trading, resource mobilization, portfolio management services and
research. One of the first entities to be granted primary dealership license by RBI, I-Sec PD
has made pioneering contributions since inception to debt market development in India. I-Sec
PD is also credited with pioneering debt market research in India. It is one of the largest
portfolio managers in the country and amongst PDs, managing the largest AUM under
discretionary portfolio management. I-Sec PD’s leadership position and research expertise
have been consistently recognized by domestic and international agencies. In recognition of
our performance in the Fixed Income market, we have received the following awards:

 “Best Domestic Bond House” in India - 2007, 2005, 2004, 2002 by Asia Money

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 “Best Bond House” - 2009, 2007, 2006, 2005, 2004, 2001 by Finance Asia
 “Best Domestic Bond House” – 2009 by The Asset Magazine’s annual Triple A Country
Awards
 Ranked volume leader - by Greenwich Associates in 2010 Asian Fixed-Income Investors
Study. Ranked 5th in ‘Domestic Currency Asian Credit’ with market share of 4.5%, Only
Domestic entity to be ranked.
 “Best Debt House in India” – 2012 by EUROMONEY

vi) ICICI Prudential Asset Management

ICICI Prudential Asset Management is the third largest mutual fund with average asset under
management of Rs. 688.16 billion and a market share (mutual fund) of 10.34% as on March
31, 2012. The Company manages a comprehensive range of mutual fund schemes and portfolio
management services to meet the varying investment needs of its investors through117
branches and 196 CAMS official point of transaction acceptance spread across the country.

vii) ICICI Venture

It is one of the largest and most successful alternative asset managers in India with funds under
management of over US$ 2 billion. It has been a pioneer in the Indian alternative asset industry
since its establishment in 1988, having managed several funds across various asset classes over
multiple economic cycles. ICICI Venture is a wholly owned subsidiary of ICICI Bank.

2.2 VISION & MISSION

Vision:

To be the leading provider of financial services in India and a major global bank.

Mission:

We will leverage our people, technology, speed and financial capital to:

 Be the banker of first choice for our customers by delivering high quality, world-class
products and services
 Maintain a healthy financial profile and diversify our earnings across businesses and
geographies
 Expand the frontiers of our business globally.

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 Play a proactive role in the full realization of India’s potential.

 Contribute positively to the various countries and markets in which we operate.

 Create value for our stakeholders
 Maintain high standards of governance and ethics.

2.3 INTRODUCTION TO ICICI SECURITIES

COMPANY PROFILE

The ICICI Securities is mainly dealing in the securities market. The securities market of India.
The major insinuation which is involved in the securities market is performing the role of the
intermediaries for buyers and sellers in the market. The service provided by the mediator is
easy transaction between two parties. Before 1998 the securities market was dealing in physical
format. There were share brokers who performed the job of the intermediaries between the two
parties. The main markets were the stock exchanges situated in different parts of the country.
The broker were purchasing and selling the securities on behalf of the investors. The stock
broking industry is service -industry where brokers act as agents for investors when a security
is bought or sold and are compensated with a commission. Investors would not hesitate to
switch to alternatives brokerage house if they don’t obtain satisfaction providing quality service
and hence customer satisfaction should thus be recognized as a key strategy and crucial element
of long run success and profitability for stock broking businesses.

ICICI securities limited provides various product and services to corporate, financial institution
and retail investors INDIA and internationally. It provides corporate financial services to
corporation, financial institution, financial sponsors, and government, which include equity
capital market product, such as initial public offering (IPO), further public offerings, rights
offering, convertible offering, qualified institution placements, non-convertible debentures,
buyback, delisting and open offers and international offering for unlisted and listed entities.
The company also offers mergers and acquisitions advisory services and private equity advisor.

2.5 ICICI DIRECT

 ICICI Direct is an online trading and investment platform on ICICI securities, the largest
stock brokers firm in India providing a wide range of investment options to the retail and
institutional customers. ICICI securities are part of group, India top financial service
provider offering banking and other financial services.
 ICICI securities (1-sec) are the top equity house in India with over 3.8 million customers.

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 Icici.com is the most visited investment portal in India and by NRI’S leaving across
countries. It is one website which provides options to invest in over 20 financial products.
 Including equity, derivatives, currency futures, IPO, mutual fund, ETF, fixed deposits,
loans, tax services, new pension system and insurance.
 ICICI direct also provide current stock market information which includes stock prices,
news, market research reports, stock tips, events, IPO news and company result. Its center
for financial learning incentive offer number of online and classroom programs for
investors. The three- in -one account which include ICICI Bank Account, ICICI Direct
Trading Account and ICICI Demat Account, is the best offering for retail investors in India
as it provides easiest way to invest in stock market and other financial instrument. The
customers can visit any of the over 1500 ICICI Bank branches to get help on financial
products which are sold through ICICI Direct.
 ICICIdirect.com is the largest equity house in the country providing end-to-end solution
(including web-based services) thorough the largest non-banking distribution channel so as
to fulfil all the diverse needs of retail and corporate customers. ICICI direct.com has a
dominate position in its core segments of its operations corporate finance including equity
capital markets advisory services, institutional equities, retail and financial product
distribution with a full-service portfolio. A roster of blue-chip clients and performance
second to none, we have a format able reputation within the industry. Today ICICI
securities are among the leading financial institutions both on the institutional as well as
retail side. ICICI direct.com, the step down wholly on US subsidiary of the company is a
member of the national association of securities dealers, INC. (NASD). As a result of this
membership, as a result of this membership, ICICI securities Inc. can engage in permitted
activates in the U.S securities market. These activities include dealing in securities and
corporate advisory service in the United States and providing research and investment
advice to US investors. ICICI securities.com is also registered with the financial service
authorities, UK (FSA) and the Monetary Authorities of Singapore (MAS)

2.5 ICICI DIRECT TRADING PLATFORMS

ICICI Direct offers 2 trading platforms to its customer:

i)Share trading account (Website based trading):

Website based online share trading account by ICICI Direct is primarily for buying and

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selling of stocks the ICICI Direct website allows Cash Trading, Margin Trading, Margin
PLUS Trading, Spot Trading., Buy Today Sell Tomorrow, IPO Investment, Mutual Fund
Investment etc.

ii)Trade Racer (Trading Terminal):

It is a power packed trading platform which provides an investor wit live streaming quotes and
research calls, Integrated Fund Transfer System along with multiple watch list facility. Investor
can also do technical analysis with the help of advance charting tools. Single order entry pages
for equities and Derivatives, Technical analysis, Integrated Fund Transfer system, Customized
Interface, Intra-Day and EOD Charts and Shortcut keys for faster access to markets are some
of the key features of trade racer.

2.6 MARKET SHARE

Indiabulls is the market leader about 37% of the investors is using the services of Indiabulls,
followed by ICICI Direct with 32% customer’s base. According to various studies ICICI Direct
us the major competitive of IndiaBulls. (Source: www.ibef.org)

2.7 VARIOUS INVESTMENT OPTIONS AVAILABLE AT ICICI SECURITIES LTD.

ICICI Securities Ltd. provides various options for investment where the investors can select
different options on the basis of their requirement. They can also select the fund by comparing
returns provided by the various investment avenues or they can select funds as per their risk
taking capability or they can select options which provides them the fixed rate of interest.

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Below is the list of various investment options provided by ICICI Securities Ltd.

I. Equity

II. Corporate FDs

III. Insurance

IV. Bonds

V. Mutual Fund

VI. Derivatives

VII. Currency

VIII. ETF

A brief introduction of the above instruments is discussed below –

I. Equity –

An Equity Market or Stock Market is a place where the shares of the listed companies are
traded by accompanying buyers and sellers. By investing in Equity Shares of the company, an
investor is called to be the owner of the company up to the extent of the number of shares held
by them.

In India, two exchanges allow to trade in Equity Shares –

(A) – Bombay Stock Exchange (BSE) – It is 1st among the listed stock exchanges in India. It
was established in the year 1875. It provides a platform to trade in Equity, MFs, Derivatives,
Currency and so on.

(B) – National Stock Exchange (NSE) – It is one of the dominant Stock Exchange and ranks
4th with respect to the volume of trading in Equity in the world in 2015. It is also the largest
Stock Exchange in India with respect to daily and average turnover for Equity Shares since
1995.
Trading or Investing in Equity Market is considered as a risky investment option compared to
all other avenues of investment. As the risk is very high, the return also very high in Equity
Investment.

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II. Corporate FDs –

Corporate or Company Deposits refers to the deposits in which the investors make the deposit
for a specified period of time at a certain rate of Interest. It is accepted by various NBFCs and
Financial Institutions. It is a risky investment option as compared to normal deposits as if the
company defaults, the investor cannot recover their amount invested by selling the documents.
Such type of deposits is unsecured and it doesn’t allow pre-mature closure before the 6 months
period. Corporate FDs provide higher rate of interest as compared to the Normal FDs. There
are many schemes where the investors have the options to receive interest at monthly or on a
quarterly basis. Such type of Deposit is suitable to those such as trusts, Housewives, Senior
Citizens etc.

III. Insurance –

Investment in insurance can be considered as the wise decision as it provides assurance of

financial security in case of any accident or financial loss. It also helps one in the repayment
of the debts. Insurance is also a best option for the retirement as after retirement also there can
be a regular flow of money by choosing appropriate pension plans. It also provides tax savings
to the investors. There are various policies from where the benefits can be received after the
completion of the term. In life insurance investment should be started from very early period
because as older one becomes; the more will be the difficulty to be qualified for getting the
suitable policy.

IV. Bonds –

It is a type of instrument which is used by the company to raise funds. It is considered as an

investment for the fixed income. It is a low risk of investment option as it is the investment in
debt where at the time of bankruptcy, the debt holders will be paid off at first. It provides
opportunity to investment in diversified portfolio, to invest in Govt. bonds and also helps to
balance the negative return in the stock market. The main problem with the bond is its biggest
challenge to beat the inflation. Sometimes it happens that the rate of Inflation is higher than
that of rate of interest paid in bonds to the bond holders. There is also a credit risk associated
with the bonds.

V. Mutual Funds –

It is an investment avenue which is managed by the professionals usually by the AMCs. In

Mutual Funds, the money is collected from various individuals and are invested in various

23
securities, stocks, bonds etc. An investor can buy units of Mutual Funds of any scheme. The
no. of units hold by the investor represents its holding in to the particular scheme. The main
advantage of Investing in MFs is that it allows one to invest in the diversified portfolio which
will minimize the risk and also it is managed by the professionals who have expertise in the
field so, the investors who don’t have much knowledge but wants to invest can invest in MF to
grow their money. There are various schemes in MFs which can be tax efficiency for the
investors such as ELSS where the investor can reduce the amount of tax payable by investing
in such schemes.

VI. Derivatives –

It is basically entering into the contract that obligates the buyer to buy an asset and the seller
to sell an asset at a predetermined future date and price. The assets includes Stocks, various
Bonds and Commodities, currency etc. Derivatives are used for limiting the risk and lock the
profit, for speculation purpose. They are traded Over-The-Counter or through the Stock
Exchanges. The various Derivatives are Futures, Options, Swaps, Foreword. The main benefit
of Derivative is that the investor can make a huge amount of transaction with the, less amount
of money. If it is applied wisely, the investors can make a large amount of profit on the Intraday
also. The biggest challenge is that it has an expire period where if the right amount is not get,
it could lead to a loss of large sum of money.

VII. Currency –

It is the process of buying and selling the currency of the world. Here in Currency trading or
Forex trading, the investors can get the benefit of the fluctuations in the exchange rates.
Here, in Forex market huge trading is done and it has a high liquidity but it is affected by the
variety of factors which is a risky type of trading. It uses leverage to get profit or loss with
respect to the size of the account.

VIII. Exchange Traded Fund –

A marketable security that is traded on a stock exchange just as stocks. It is an exciting option
for the investors because it has a low cost, has a feature like that of stocks and are also tax
efficiency. ETFs are similar to the MFs but only difference is that they can be traded like the
stocks throughout the day whereas, MFs are priced only once each day i.e. on when the market
shuts at the end of the day. ETFs helps to manage the risk by trading like stocks in the Futures

24
and Options. It has also the advantage of investment in the diversified portfolio which also
helps to minimize the risk of losing money from the single investment on the specific stock.

2.8 SWOT Analysis of ICICI Securities:

(I)STRENGTH:

Strength of the ICICI Securities is the main feature of the service. As it gives 3 in 1account to
the customer, the ease to trade at your convenient time is the main strength of the ICICI Direct.
Following are some of the strong points of the company.

 Convenience of time to trade faster transaction

 Paperless work
 3 in 1 account facility so all work done at one place.
The bank has strength of the latest technologies and the most modern banking channels as net
banking and the schemes such as young saver accounts also. The young and energetic staff of
the bank is also one of the strengths.

(II)WEAKNESSES:

Weakness of company is fond out to remove it and then make the product or service better than
current status. Each and every product and service have weakness. It is just like two side of the
coin, if you have strength then you have weakness. The weakness of the ICICI Direct.com can
be said its high charges compared to other companies

(III) OPPORTUNITIES

 It may provide finance to lower or rural people and also loan to small business houses at
lower rates.
 Now-a-days there is a strong growth in General Insurance and Equity market
 The level of income of individuals are increasing which attracts them to invest to grow
their money.
 The various tax saving schemes also attracts the investors to make investment and to
reduce the net taxable amount.
 Stock Market is now in the rapid growth stage. So, people are preferring to make
investment in Mutual Funds to make their investment grow with a rapid pace.

25
(IV) THREATS

 Many new competitors are emerging everyday which reduces the profitability of the
concern as the business is distributed among various competitors.
 Increasing business of Foreign non-banking financial institutions.

26
COMPETITORS:

27
 CHAPTER 3

LITERATURE REVIEW

28
E. Priyadarshini and Dr. A. Chandra Babu (2011), have done Prediction of The Net Asset
Values of Indian Mutual Funds Using Auto- Regressive Integrated Moving Average (Arima).
In this paper, some of the mutual funds in India had been modeled using Box-Jenkins
autoregressive integrated moving average (ARIMA) methodology. Validity of the models was
tested using standard statistical techniques and the future NAV values of the mutual funds have
been forecasted.

Dr. Ranjit Singh, Dr. Anurag Singh and Dr. H. Ramananda Singh (August 2011), have
done research on Positioning of Mutual Funds among Small Town and Sub-Urban Investors.
In the recent past the significant proportion of the investment of the urban investor is being
attracted by the mutual funds. This has led to the saturation of the market in the urban areas. In
order to increase their investor base, the mutual fund companies are exploring the opportunities
in the small towns and sub-urban areas. But marketing the mutual funds in these areas requires
the positioning of the products in the minds of the investors in a different way. The product has
to be acceptable to the investors, it should be affordable to the investors, it should be made
available to them and at the same time the investors should be aware of it. The present paper
deals with all these issues. It measures the degree of influence on acceptability, affordability,
availability and awareness among the small town and sub-urban investors on their investment
decisions.

Dr. Sandeep Bansal, Deepak Garg and Sanjeev K Saini (2012), have studied Impact of
Sharpe Ratio & Treynor’s Ratio on Selected Mutual Fund Schemes. This paper examines the
performance of selected mutual fund schemes, that the risk profile of the aggregate mutual fund
universe can be accurately compared by a simple market index that offers comparative monthly
liquidity, returns, systematic & unsystematic risk and complete fund analysis by using the
special reference of Sharpe ratio and Treynor’s ratio.

Dr. Yogesh Kumar Mehta (Feb 2012), has studied Emerging Scenario of Mutual Funds in
India: An Analytical Study of Tax Funds. The present study is based on selected equity funds
of public sector and private sector mutual fund. Corporate and Institutions who form only
1.16% of the total number of investors accounts in the MFs industry, contribute a sizeable
amount of Rs. 2,87,108.01 crore which is 56.55% of the total net assets in the MF industry. It
is also found that MFs did not prefer debt segment.

Dr Surender Kumar Gupta and Dr. Sandeep Bansal (Jul 2012), have done a Comparative
Study on Debt Scheme of Mutual Fund of Reliance and Birla Sunlife. This study provides an

29
overview of the performance of debt scheme of mutual fund of Reliance, and Birla Sunlife with
the help of Sharpe Index after calculating Net Asset Values and Standard Deviation. This study
reveals that returns on Debt Schemes are close to Benchmark return (Crisil Composite Debt
Fund Index: 4.34%) and Risk Free Return: 6% (average adjusted for last five year).

Prof. Kalpesh P Prajapati and Prof. Mahesh K Patel (Jul 2012), have done a Comparative
Study On Performance Evaluation of Mutual Fund Schemes Of Indian Companies. In this
paper the performance evaluation of Indian mutual funds is carried out through relative
performance index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure,
Jensen's measure, and Fama's measure. The data used is daily closing NAVs. The source of
data is website of Association of Mutual Funds in India (AMFI). The study period is 1st January
2007 to 31st December, 2011. The results of performance measures suggest that most of the
mutual fund have given positive return during 2007 to 2011.

Dr. Nishi Sharma (Aug 2012), has done research on Indian Investor’s Perception towards
Mutual Funds. This paper attempts to investigate the reasons responsible for lesser recognition
of mutual fund as a prime investment option. It examines the investor’s perception with
reference to distinct features provided by mutual fund companies to attract them for investing
in specific funds/schemes. The study uses principal component analysis as a tool for factor
reduction. The paper explored three factors named as fund/scheme related attributes, monetary
benefits and sponsor’s related attributes (having respectively six, four and four variables) which
may be offered to investors for securing their patronage. The results are expected to provide
fruitful insight to mutual fund companies for tailoring their offers suitable to cater the needs
and expectations of Indian investors.

Rashmi Sharma and N. K. Pandya (2013), have done an overview of Investing in Mutual
Fund. In this paper, structure of mutual fund, comparison between investments in mutual fund
and other investment options and calculation of NAV etc. have been considered. In this paper,
the impacts of various demographic factors on investors’ attitude towards mutual fund have
been studied. For measuring various phenomena and analyzing the collected data effectively
and efficiently for drawing sound conclusions, drawing pie charts has been used and for
analyzing the various factors responsible for investment in mutual funds.

Prof. V. Vanaja and Dr. R. Karrupasamy (2013), have done a Study on the Performance of
select Private Sector Balanced Category Mutual Fund Schemes in India. This study of
performance evaluation would help the investors to choose the best schemes available and will

30
also help the AUM’s in better portfolio construction and can rectify the problems of
underperforming schemes. The objective of the study is to evaluate the performance of select
Private sector balanced schemes on the basis of returns and comparison with their bench marks
and also to appraise the performance of different category of funds using risk adjusted measures
as suggested by Sharpe, Treynor and Jensen.

Rahul Singal, Anuradha Garg and Dr Sanjay Singla (May 2013), have done Performance
Appraisal of Growth Mutual Fund. The paper examines the performance of 25 Growth Mutual
Fund Schemes. Over the time period Jan 2004 to Dec 2008. For this purpose three techniques
are used (I) Beta (II) Sharpe Ratio (III) Treynor Ratio. Rank is given according to result drawn
from this scheme and comparison is also made between results drawn from different schemes
and normally the different are insignificant.

Dr. K. Veeraiah and Dr. A. Kishore Kumar (Jan 2014), conducted a research on
Comparative Performance Analysis of Select Indian Mutual Fund Schemes. This study
analyzes the performance of Indian owned mutual funds and compares their performance. The
performance of these funds was analyzed using a five year NAVs and portfolio allocation.
Findings of the study reveals that, mutual funds out perform naïve investment. Mutual funds
as a medium-to-long term investment option are preferred as a suitable investment option by
investors.

C.Srinivas Yadav and Hemanth N C (Feb 2014), have studied Performance of Selected
Equity Growth Mutual Funds in India: An Empirical Study during 1st June 2010 To 31st May
2013. The study evaluates performance of selected growth equity funds in India, carried out
using portfolio performance evaluation techniques such as Sharpe and Treynor measure. S&P
CNX NIFTY has been taken as the benchmark. The study conducted with 15 equity growth
Schemes (NAV ) were chosen from top 10 AMCs ( based on AUM) for the period 1st June
2010 to 31st may 2013(3 years).

31
 CHAPTER 4

RESEARCH METHODOLOGY

32
4.1 RESEARCH DESIGN

The design used for doing research here is Descriptive and Explorative approach.
This approach enables a researcher to explore new areas of investigation.
This approach is one of the most popular approaches these days. In this approach, a problem is
described by the researcher using questionnaire or schedule.

4.2 SOURCE OF DATA

The data has been collected from the customers who have their account with ICICI Securities
Ltd. Two sources of collecting data has been employed i.e. primary data and secondary data.

Primary Data
A questionnaire is used as a tool for the systematic collection of relevant information.
Secondary Data
Secondary data is collected from the company’s websites, fact sheet etc.

4.3 DATA COLLECTION METHOD

Here the structured questionnaire and the survey by using telephone has been used to collect
the primary data. A well questionnaire consisting of simple questions has been prepared &
directed to the respondents. The questionnaire prepared consists of closed-ended questions
which include:
 Multiple choices
 Checkboxes
The first section of questionnaire is prepared mainly for collecting the personal information
about the respondents. (Contains name, contact no., age, gender, educational background and
occupation)
The second section contains multiple choice questions. It is prepared to collect the information
about customer perception.
The close- ended questions are very easy to answer from the questionnaire responded by the
respondents.

4.4 POPULATION

Population for choosing the units of sampling encompasses all the customers having account
with ICICI Securities.

33
4.5 SAMPLING METHOD

Convenient Method of sampling has been used to gather the data from the respondents.

4.6 SAMPLING FRAME

The 100 respondents have been selected for the research purpose. so, the size of sample is 100.

34
 CHAPTER 5

DATA ANALYSIS AND INTERPRETATION

35
The data collected by questionnaire and the analysis, along with the Interpretations are as
follows:

Q.1 Age Group of Respondents

Age Groups

5%
24%
27%
20-25
26-30
18% 31-35
36-40
26% 40 above

Age Groups No. of Respondents

20-25 5
26-30 27
31-35 26
36-40 18
40 above 24
Total 100

Interpretation
 The maximum no. of customers lies in the age group 26-35 (27+26).
 The lowest no. of clients come in the age group 20-25.

36
Q.2 Qualification of the Respondents

Qualification

38%

Graduation
55%
Post Graduation
Others
7%

Qualification No. of Respondents

Graduation 38
Post-Graduation 7
Others 55
Total 100

Interpretation:
 Most of the customers have education qualification less than graduation.
It is followed by graduates and then post graduates.

37
Q.3 Gender of the Respondents

Gender
100

90

80

70

60

50

40

30

20

10

0
Male Female

Gender No. of Respondents

Male 86
Female 14
Total 100

Interpretation:
 In survey, most of the respondents were male who could not take the perceptions of the
female investors.
 It also shows that women are usually not interested in dealing with mutual funds as the
rarely filled the questionnaire.

38
Q.4 Occupation of the Respondents

Occupation

10% 9%
8%
Government Sector Employee
Private Sector Employee

30% 43% Business

Agriculture
Others

Occupation No. of Respondents

Government Sector Employee 9
Private Sector Employee 43
Business 30
Agriculture 8
Others 10
Total 100

Interpretation
 Most of the respondents are private sector employees, whereas the second most common
occupation among the respondents was Businessmen.
 The no. of government employees, agricultural business-based respondents and others like
housewife comprise of the lowest no. of respondents.

39
Q.5 While investing your money, which factor you prefer most? (multiple choice)

Factor Influencing
0%

19% 22%

Liquidity
Low Risk
High Return
33% 26%
Company Reputation
Other

Factor Influence No. of Respondents

Liquidity 22
Low Risk 26
High Return 33
Company Reputation 19
Other -
Total 100

Interpretation:
 According to this study, most people invest in mutual funds for obtaining high returns,
followed by low risk feature and liquidity.
 Company reputation is the least affecting factor in shaping up the behaviour towards
Mutual Funds.

40
41
Q.7 What kind of investments you prefer most? (Multiple Choice)

What kind of investments you prefer most?

Other
Provident Funds
Real Estate
Gold/Silver (commodities
Debentures
Shares
Post Office-NSC etc.
Mutual Funds
Insurance
Fixed Deposits

0 5 10 15 20 25 30 35 40 45 50

What kind of investments you prefer

most? No. of Respondents
Fixed Deposits 41
Insurance 37
Mutual Funds 45
Post Office-NSC etc. 16
Shares 39
Debentures 30
Gold/Silver (commodities 30
Real Estate 31
Provident Funds 24
Other 0

Interpretation
 Here, we can interpret that most customers prefer Mutual Funds as an investment option,
which is followed by fixed deposits, shares, Insurance, real estate, Gold, silver, PFs.
 Post office NSC etc. have the lowest preference according to this study.

42
Q.8 In which kind of mutual fund would you like to invest?

Type
70

60

50

40

30

20

10

0
Public Private

Type No. of Respondents

Public 63
Private 37
Total 100

Interpretation:
Major no. of respondents prefer investing in Public mutual funds rather than private funds.

43
Q.9 How do you come to know about Mutual funds?

Medium

17%

45%
Advertisement
20%
Peer Groups
Banks
Financial Advisors
18%

Medium No. of Respondents

Advertisement 44
Peer Groups 19
Banks 20
Financial Advisors 17
Total 100

Interpretation
 The study shows that most no of people come to know about mutual funds from
advertisements, followed by Banks and peer groups.
 The financial advisors provide the least amount of information according to this study.

44
Q.10 Which mutual fund scheme have you used? (Multiple Choice)

Type
None

Sector Fund

Long Cap

Regular Income Funds

Growth Fund

Mid-Cap

Liquid Fund

Close Ended

Open Ended

0 5 10 15 20 25 30 35 40 45 50

Type No. of respondents

Open Ended 43
Close Ended 11
Liquid Fund 18
Mid-Cap 12
Growth Fund 18
Regular Income Funds 17
Long Cap 10
Sector Fund 12
None 24

Interpretation:
 Most no. of respondents prefer open ended mutual funds (43%)
 The preference for all other types of mutual funds are almost similar.
 A total of 24% people have never invested in mutual funds.

45
Q.11 Where do you Purchase Mutual Funds from?

Source
80

70

60

50

40

30

20

10

0
Asset Management Companys Brokers Other

Source No. of Respondents

Asset Management Companys 75
Brokers 25
Other -
Total 100

Interpretation:
This shows that 75% of respondents prefer Asset Management companies over brokers or other
ways to buy mutual funds.

46
Q.12 Which company will you prefer for online trading?

Company
0%
1% ICICI Direct
9% Kotak Securities
4% 6%
Sharekhan
49%
11% Reliance Money
Motilal Oswal
Indiabulls
9%
Religare
2% 9%
India Infoline
Karvy
Other

Company No. of respondents

ICICI Direct 49
Kotak Securities 9
Sharekhan 9
Reliance Money 2
MotilalOswal 11
Indiabulls 4
Religare 6
India Infoline 1
Karvy 9
Other 0
Total 100

Interpretation:
 The customer base was of ICICI Direct’s customers, hence 49% of population preferred
ICICI Direct over others.
 It is followed by various other asset management companies, with India Infoline having the
least no. of preference.

47
Q.13 Are you interested in investing your savings in mutual funds in future?

Future preference for investing in mutual

funds

21% 14%

Yes
No
May Be
65%

Investment Preference No. of Respondents

Yes 14
No 65
May Be 21

Interpretation
 Out of 100 respondents 65% are not interested in investing in mutual funds in future.
 21% respondents are not sure and may or may not invest in future.
 14% are interested in investing in mutual funds in future.

48
 CHAPTER 6
FINDINGS, SUGGESTIONS AND CONCLUSION

49
FINDINGS
1. Customer Service/ Satisfaction:
 Most of the clients are not satisfied with the services of ICICI securities.
 Customers are not happy with the relationship managers as they provide wrong
information to the customers and sell them policy which the customers do not want.
They complaint that relationship managers do not contact them or the managers do not
pick customers call.
 Most of the customers complain that the brokerage of ICICI securities is very high
among competitors in the market.
 On the basis of research conducted customers do their own research for investment
purpose and hesitate taking help from ICICI securities.
 Most of the client refused to consider switching their investment relationship to ICICI
securities ltd.

2. Product Knowledge/ Awareness:

 Most of the customers were not fully aware about mutual funds and its benefit.
 Customers are also not aware about all the financial products available for investment
that is why they invest in equity only.
 Customers seek most of the information from family, friends and news media which
stands incomplete medium of providing necessary knowledge to the customers who may
turn up to provide potential business.
 Existing customers are not aware of the features available like Capital gain statement,
portfolio monitoring, personalized research recommendations against holding etc. on
ICICIdirect.com which are extra services provided by ICICI direct and which is very
attractive.

3. Customer Interest:
 Most of the customers invest only in equity and have no idea about mutual funds through
ICICI direct.
 Some customers showed interest in investing in mutual funds after watching the demo.
 Customers were more interested in investing through SIP in mutual funds.
 Customers who are aware of ICICI direct website are very satisfied with the features
like portfolio monitoring and ease of purchase and redemption.

50
4. Customer Profile
 Customers were investors who mostly prefer putting their funds in Equity or Fixed
deposit or there were customers who had stopped investing their money in the market.

SUGGESTIONS:
Based on the study and problems, the following are the recommendations for the company:
 The awareness of mutual fund & its various schemes should be increased among the
people by proper advertising, promotion and conducting investors meets.
 Customers still prefer Savings, fixed deposits, equity, debentures, real estates, hence
there is a need to capture the market with proper awareness and by maintaining better
relationship.
 Most of the clients are males and hence the perception of females is to be changed with
related to mutual funds.
 The study shows that advertisements are the most common source of information
related to mutual funds for customers, hence better and innovative ad campaigns should
be planned by the company to capture more market.

CONCLUSION:
It has been a great learning experience from the internship project of ICICI Securities Pvt.Ltd.
I have learned the different behaviour of the customers and how to act or handle different
customers in different ways. I have gained knowledge about various financial products offered
by ICICI Securities. It is very important to make a relation with customers and maintain it so
that the business can work effectively and efficiently. So, one should maintain a good relation
with the customers. Customers should be given more knowledge about mutual funds and the
benefits of investment through ICICIDIRECT.COM

I came across the organizational culture and also the internship enabled me to work effectively
and efficiently to achieve the given targets.

51
 CHAPTER 7

BIBLIOGRAPHY AND ANNEXURE

52
Books referred:

 Mutual Funds in India - H. Sadhak, Response Books, New Delhi.

 Financial Management khan & Jain
 Security Analysis & Portfolio Management Preethisingh
 Investment Management VK. Bhalla
 Company Fact Sheet

Websites Visited:

www.amfiindia.com

www.mutual funds india.com

www.moneycontrol.com

www.icicidirect.com

ANNEXURE:

QUESTIONNAIRE

Personal Details
1. Name
________

2.Age
 20-25
 26-30
 31-35
 36-40
 40 above

3.Qualification
 Graduation
 Post-Graduation
 Others

53
4.Gender
________

5.Contact No.
________

6.Occupation
 Government Sector Employee
 Private Sector Employee
 Business
 Agriculture
 Others
7. While investing your money, which factor you prefer most? *
 Liquidity
 Low Risk
 High Return
 Company Reputation

9. What kind of investments you prefer most?

 Fixed Deposits
 Insurance
 Mutual Funds
 Post Office-NSC etc.
 Shares
 Debentures
 Gold/Silver
 Real Estate
 Provident Funds
 Others

10. In which kind of mutual fund would you like to invest?

 Public
 Private

54
11. How do you come to know about Mutual funds?
 Advertisement
 Peer Groups
 Banks
 Financial Advisors

12. Which mutual fund scheme have you used?

Open Ended

Close ended

Liquid Fund

Mid - Cap

Growth Fund

Regular Income funds

Long Cap

Sector fund

None

13. Where from you purchase mutual funds?

Asset Management Companys

Brokers

Other:

14. Which company will you prefer for online trading?

ICICI Direct

Kotak Securities

Sharekhan

Reliance Money

MotilalOswal

Indiabulls

55
 Religare

India Infoline

Karvy

Other:

15. Are you interested in investing in mutual funds in future?

56