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The Reason to choose this project to analysis the Indias leading mutual fund company Reliance Mutual Fund and analysis their competitive advantages & limitations, customer satisfaction review, acknowledge their schemes and reason for growth in their asset over the year to year. What it makes it very potential higher than other mutual funds.
Reliance Growth Fund( 1st ranked scheme in mutual fund Industry) held the highest amount of Rs 68 billion followed by HDFC Top 200 Fund, when Reliance Diversified Power Sector Fund 1993 with average AUM of Rs 55 billion. Reliance Equity Fund NFO (6th Feb -7th March 2006), the largest ever collection of Rs.5,759 crore ($1.29 billion) in the history of the Indian Mutual Fund industry
Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Assets Under Management (AUM) of Rs. 1,08,332 crore (AUM as on 30th June 2009) and an investor base of over 70.87 Lakes. Rapid growth in Assets under Managemen (AUM), 87.7% growth & t investor base 66.89% growth in year on year. My main purpose behind this project is to know whether their investors are aw are with their rights which are mutually come with schemes and awareness with the area of investment of schemes, dividend and key information memorandum (KIM) etc.
From this project, Company gets aware with their investors perception, feedback about their avail services and position in the market and according to it make some necessary changes.
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Source: AMFI, Till Feb-2007 (Phase-I, II, III= Distributing time period of Mutual fund entry) [Phase-I: Entry of first Mutual fund company UTI (1964-87) Phase-II: Entry of Public sector funds (1987-93) Phase-III: Entry of Private sector funds (1993-2003) Phase-IV: Since February 2003]
Title of the project Customer Satisfac tion with Pr oduc t & Service of Reliance Mutual Fund C
To Measure the Awareness of different services of RELIANCE MUTUAL FUND in Existing Investors. Like their Online & Offline after sale Services.
To know the different attitudes of people regarding Risk, Rate of Return, period of investment etc.
From the customer feedback and perception about company help intoreformulate some necessary changes as a result improve the companys performance as well as well regulated administration better.
Company concentrates more on the advertisement and promotio activity/campaign as a scheme n wise. Findings of the study can be used in formulating the future product and services of Reliance mutual fund.
This study can lead the organization into further in depth studies of the improvement areas in terms of consumer perception of RMF product & services.
Reliance Introduction
Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Average asset Management (AAUM) of Rs. 1, 08,332 CRORES and an investor base of over 70.87 Lakh. (AAUM and investor count as on June 30, 2009)
Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. Reliance Mutual Fund offers investors a welldefined portfolio of products to meet varying investor requirements and has presence in 118 cities across the country.
Reliance Mutual Fund constantly endeavors to launch innovative products and cusomer t service initiatives to increase value to investors. "Reliance Mutual Fund schemes are managed by Reliance Mutual Fund Limited., a subsidiary of Reliance Capital Limited...
Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprieta investments, and other financial ry services.
Origin
Reliance Mutual Fund Limited (RCAM), a company registered under the Companies Act, 1956 was appointed to act as the Investment Manager of Reliance Mutual Fund. "Reliance Mutual Fund schemes are managed by Reliance Mutual Fund Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM
Reliance Mutual Fund Limited (RCAM) was approved as the Asset Management Company for the Mutual Fund by SEBI consults 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. 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 September 30, 2007 is Rs.152.02 crores. March 31, 2008 is Rs 709.39 crores.
The first mutual fund in India to offer instant cash withdrawal facility on investments. Reliance Mutual Fund offers the Reliance Any Time Money (ATM) Card with select schemes. The card is a benefit for retail investors as it enables them to withdraw their investment any time, anywhere at over 1 million VISA-enabled ATMs across the world.
Reliance Mutual Fund is amongst the few mutual funds with a 24X7 Call Centre facility. Reliance Mutual Fund has over 10 years of extensive market experience, over 26 sc emes h combined with a strong performance track record.
Reliance Mutual Fund is amongst the few mutual funds in the industry to offer Subscription, Redemption and Switch through Online Transactions.
Vision
To be a globally respected as a wealth creator with an emphasis on customer care by understanding the need of them & culture of good corporate governance.
Mission
To create and raise a world-class, high performance environment aimed at delighting & satisfy our customers.
Board of Directors Mr. Soumen Ghosh Mr. Kanu Doshi Mr. Manu Chadha Mr. Sushil Tripathi
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Management Team CEO Mr. Sundeep Sikka Head Equity Investments Mr. Madhusudan Kela Head Fixed Income Mr. Amitabh Mohanty Equity Fund Managers Mr. Sunil B. Singhania Mr. Shailesh Raj Bhan Mr. Krishan Daga Mr. Ashwani Kumar Mr. Shiv Chanani Mr. Govind Agrawal Mr. Omprakash S. Kuckian Debt Fund Managers Mr. Amit Tripathi Mr. Prashant Pimple Commodities Fund Manager Mr. Hiren Chandaria Ms. Anju Chhajer Mr. Arpit Malaviya
Head Of Departments Infrastructure & Admin Finance and Accounts Human Resource Development Information Technology Service Delivery & Operations Excellence Operations & Settlement Mr. Pradeep Andrade Mr. Milind Gandhi Mr. Rajesh Derhgawen Mr. Vinay Nigudkar Mr. Bhalchandra Joshi Ms. Geeta Chandran
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Introduction
A Mutual Fund is an ideal investment vehicle where a number of investors come together to pool their money with common investment goal. Respective Asset Management Company (AMC) manages each Mutual Fund with different type of schemes. An investor can invest his money in one or more schemes of Mutual Fund according to his choice and becomes the unit holder of the scheme.
Fund manager in different types of suitable stock and securities, bonds and money market instruments then invests the invested money in a particular scheme of a Mutual Fund. Each Mutual Fund is managed by qualified professional men, who use this money to create a portfolio, which includes stock and shares, bonds, gilt, money -market instruments or combination of all. Thus Mutual Fund will diversify your portfolio over a variety of investment vehicles. Mutual Fund offers an investor to invest even a small amount of money.
A security that gives small investors access to a well-diversified portfolio of equities, bonds, and other securities. Each shareholder participates in the gain or loss of the fund.
Shares are issued and can be redeemed as needed. The fund's Net asset value (NAV) is determined each day. Each mutual fund portfolio is invested to match the objective stated in the prospectus.
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Mutual Fund offers several benefits to an investor such as potential return, liquidity, transparency, income growth, good post tax return and r easonable safety. There are number of options available for an investor offered by a mutual fund.
A draft offer document is to be prepared at the time of launching the fund. Typically, it has a specifies the investment objectives of the fund, the risk associated, the costs involved in the process and the board rules for entry into and exit from the fund and other areas of operation. In India, as in most countries.
These sponsors need approvals 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.
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A sponsor then hires an Asset Management Company to invest the funds according to the investment objectives. It also hires another entity to be the custodian of the asset of the fund and perhaps a third one to handle registry work for the unit holder (subscriber) of the fund, in the Indian context, the sponsor promote the Asset Management Company also, in which it holds a majority stake. In many cases a sponsor can hold a 100% stake in the Asset Management Company (AMC).
A mutual fund is like a big pizza cut into slices. Each slice is called a share. The share price is called the Net Asset Value (NAV). Unlike a stock price that will fluctuate all day long, the mutual fund price changes only once a day, at the close of the stock market. Each Mutual Fund has a specific stated objective.
The funds objective is laid out in the funds prospectus, which is the legal document that contains information about the fund, its history, its officers and its performance.
AMC
Trustees
Sponsor
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UTI
Private sector
Public
JVs with foreign Partners Birla Sun Capital Prudential ICICI Alliance Capital Kothari Pioneer
Foreign Houses
Indian Houses
TATA JM Reliance
A mutual fund is a common pool of money into which investors with varied common investment objective place their contributions that are to be invested in accordance with the stated investment objective of the scheme. The investment manager would invest themoney collected from the investor into assets that are defined/ permitted by the stated objective of the scheme.
For example, an equity fund would invest equity and equity related instruments and a debt fund would invest in bonds, debentures, gilts etc.
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A Mutual Fund is a trust that pools the savings of a number of investors who share common financial goal; investments may be in shares, debt securities, money market securities or a combination of these. Those securities are professionally managed on behal of the unitf holders. Ex: entitled to any profits when the securities are sold, but subject to any losses in value as well.
The income earned through these investments and 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.
Mutual funds are investment companies that use the funds from investors to invest in other companies or investment alternatives. They have the advantage of professional management, diversification, convenience and special services such as cheque writing and telephone account service.
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Objectives
FUND OBJECTIVE
Equity (growth) Debt (Income) Money Market (Including Gilt)
Balanced
Partly in stocks and partly in fixed-income securities, in order to maintain a 'balance' in return and risk
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By structure
I.
Open-Ended Funds
Open-Ended fund scheme is open for subscription all through year. An investor can buy or sell the units at "NAV" (Net Asset Value) related price at any time. An investment of these schemes will predominantly be in the stock markets and endeavor will be to provide investors the opportunity to benefit from the higher returns which stock markets can provide.
However they are also exposed to the volatility and attendant risks of stock markets and hence should be chosen only by such investors who have high rsk taking capacities and are i willing to think long term.
Equity Funds include diversified Equity Funds, Sectoral Funds and Index funds.
Diversified Equity Funds invest in various stocks across different Sectors while sectored funds which are specialized Equity Funds restrict their investments only to shares of a particular sector and hence, are riskier than Diversified Equity Funds. Inde Funds invest x passively only in the stocks of a particular index and the performance of such funds Move with the movements of the index.
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II.
Close-Ended Funds
a specified period,
generally at the time of initial public issue that generally ranges from 3 to 15 years..
The Close-Ended fund scheme is listed on the some Stock exchanges where an investor can buy or sell the units of this type of scheme. SEBI Regulations stipulate that at least one of the two exit routes is provided to the investor.
III.
Interval Funds:
Interval Funds combines both the features of Open-Ended funds and Close-Ended funds.
By Investment Objectives
I. Growth Funds
The objective of Growth Fund scheme is to provide capital appreciation over the medium to long term. This type of scheme is an ideal scheme for the investors seeking capital appreciation for a long period.
II.
Income Funds
The Income Fund schemes objective is to provide regular and steady income to investors.
III.
Balanced Funds
The objective of Balanced Fund schemes is to provide both growth and regular income to investors.
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IV.
The objective of Money market funds is to provide easy liquid regular ity, income and preservation of income.
Money market funds also come in two varieties, taxable and tax-free.
Taxable funds buy the best-yielding short-term corporate, agency or government issues available, while tax-free funds are limited to buying primarily municipal debt. Taxable funds pay slightly higher income than tax -free funds, but you must pay tax on any distributions they make. In either case, the rate a fund pays is roughly the same as bank money market accounts or CDs.
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Other Funds/Scheme
I.
The objective of Tax Saving schemes is to offer tax refund to the investors under specific provisions of the Indian Income Tax Laws. Investments made under some schemes are allowed as deduction u/s 88 of the Income Tax Act. II. Industry specific Schemes
Industry specific schemes invest only in the industries specified in the offer document of the schemes.
III.
Sectorial Schemes
IV.
Index Schemes
Basically, in open-ended funds you can withdraw your investments at anytime even within a week, but to get desired returns positive time frame is required are
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Funds Equity Funds Balanced Funds MIPs Income Funds Liquid Funds
Time Period 3 Years (plus) 18 months to 3 Years 1 Year (plus) 6 months to 1 Year few days to 6 months
SWOT ANALYSIS
STRENGTHS Original research Integrated technology platform Performance of previously introduced funds Pan India distribution
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OPPORTUNITIES Changing demographic with higher disposable income and increasing complex financial instruments will drive the demand for investment advisory services Rapid penetration of internet and computer needs that technology enabled services will gain market share
THREATS Economic slowdown Stock market fall will have a cascading effect on mutual fund mobilization Increase or decrease in interest rates can effect debt or income mobilizations Future changes in personal taxation rules can impact insurance sales Increasing competition from large and particularly foreign players
Advantages
There are numerous benefits of investing in mutual funds and one ofthe key reasons for its phenomenal success in the developed markets like US and UK is the range of benefits they offer, which are unmatched by most other investment avenues.
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Diversification It simply means that you must spread your Investment across different securities (stocks, bonds, Money market instruments, real estate, fixed deposits etc.) & different sectors (auto, textile, information technology etc.).
Tax Benefits Any income distributed after March 31, 2002 will be Subject to tax in the assessment of all Unit holders. However, as a measure of concession to Unit holders of Open -ended equity-oriented funds, income distributions for the year ending March 31, 2003, will be taxed at a Confessional rate of 10.5%.
Regulations Securities Exchange Board of India (SEBI), the Mutual funds regulator has clearly defined rules, which Govern mutual funds. These rules relate to the formation, administration and management of mutual funds and also prescribe disclosure and accounting r quirements. e Such a high level of regulation seeks to protect the interest of investors.
Affordability A mutual fund invests in a portfolio of assets, i.e. bonds, Shares, etc. depending upon the investment objective of the scheme. An investor can buy in to a portfolio of equities, which would otherwise be extremely expensive.
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Liquidity Often investors hold shares or bonds they cannot directly, easily and quickly sell. Investment in mutual fund, on the other hand, is more liquid. An investor can liquidate the investment by selling the units to the fund if it is an open-ended fund, or by selling the units in the stock market if the fund is a closed-ended fund, since closed-end funds have to be listed on a stock exchange, in any case, the investor in a closed -ended fund receives the sale proceeds at the end of a period specified by the mutual fund or the sto exchange. ck
Convenience Mutual fund investment process has been made further more convenient with the facility offered by funds for investors to buy or sell their units through the internet or email or using other communication means
Transparency The investors get updated market information from the funds. The fund managers also share the information about the schemes in the transparent manner, with all material facts required by regulators to be disclosed to the investors. The NAVs of open -ended funds are disclosed on a monthly basis ensuring transparency to the investors.
Features
Reliance was the first fund house to launch sector Funds with flexibility to invest in a range of 0% to 100% in either equity or debt instruments. Mutual fund investments linked to an ATM/debit Card a Reliance innovation Indias first long short Fund comes from Reliance Mutual Fund.
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As at 31st May 2008, more than 6.6 million people had invested in Reliance Mutual Fund; the Investments comprised 16% of the countrys entire Mutual Fund.
Fluctuating Returns Mutual funds are like many other investments without a guaranteed return. There is always the possibility that the value of your mutual fund will depreciate. U nlike fixed-income products, such as bonds and Treasury bills, mutual funds experience price fluctuations along with the stocks that make up the fund.
Diversification Although diversification is one of the keys to successful investing, many mutual fund investors tend to over diversify. The idea of diversification is to reduce the risks associated with holding a single security; over diversification occurs when investors acquire many funds that are highly related and so don't get the risk reducing benefits of diversification.
Costs
In mutual funds the fees are classified into two categories: shareholder fees and annual fund operating fees. The shareholder fees, in the forms of loads and redemption fees are paid directly by shareholders purchasing or selling the funds. The annual fund operating fees are charged as an annual percentage - usually ranging from 1-3%. These fees are assessed to mutual fund investors regardless of the performance of the fund.
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When the fund doesn't make money these fees only magnify losses.
Misleading Advertisements The misleading advertisements of different funds can guide investors down the wrong path. Some funds may be incorrectly labeled as growth funds, while others are classified assmallcap or income.
Evaluating Funds
Another disadvantage of mutual funds is the difficulty they pose for investors interested in researching and evaluating the different funds. Unlike stocks, mutual funds do not offer investors the opportunity to compare the P/E ratio, sales growth, earnings per share, etc.
Reliance Income Fund (December 1997) Reliance Medium Term Fund (August 2000)
Reliance Diversified Power Sector Fund (March 2004) Reliance Index Fund (February 2005)
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Research can be defined as systemized effort to gain new knowledge. A research is carried out by different methodologies which have their own pros and cons. Research methodology is a way to solve research in studying and solving research problem along with logic behind them are defined through research methodology.
Thus while talking about research methodology we are not only talking of research methods but also considered the logic behind the methods. We are in context of our research studies and explain why it is being used a particular method or technique and why the others are not used. So that research result is capable of being evaluated either by researcher himself or by others.
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Research Design
I) The study at reliance mutual fund is a combination of analytical & practical study.
II)
It is a based on secondary data collected from records of the company as well as other published sources beside the primary data collected from theinvestors.
II)
1) Primary Data Primary data are collected through personal and telephonic interviews with the help of a structured questionnaire.
2) Secondary Data These data are collected from company sources, internet, magazines, newspapers and reference books
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Sampling plan
Probability sampling
This is the process of selecting the elements or group of elements from as well defined population by such procedure which gives every element in the population an equal chance of being selected for observation.
Here the possibilities of being selected as a sample are equal and judged on the basic of a personal knowledge, opinion, and interest and so on.
ASSUMPTIONS
a) It has been assumed that whatever respondents give answers havent without any type of influences/mislead by outsider other people. been ambiguous
b) It has been assumed that sample of 100 respondents represents the whole population.
Sampling Unit
Sampling unit is an investor of Mutual funds (RMF and/or its competitors).
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Sample Size
Large sample gives reliable result than small sample. However, it is not feasible to target entire population or even a substantial portion to achieve a reliable result due to the time and cost limit factors. So, in this aspect selecting the sample to study is known as sample size. Hence, for my project my sample size was 100.
Proceeding further after determines the Methodology and limitation of the study the next step is to analyze the Data being collected for the study. Data is being collected from various sources like: Questionnaire (personal visit) Telephonic Calling etc.
Questionnaire
Questionnaire is a very powerful tool for collection of data from the clients or investors.
Questionnaire is a written form being given to the investor to give feedback about the services provided to them and also to find the satisfaction level of the investor for a particular investment product. Questionnaire is an easy and simple way of collecting a data. After filling up of form the next step is to evaluate the form in different dimensions and draw a conclusion.
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Telephonic Information
The further source of collecting data is telephonic information with the existing customer and the prospective investors. It is very difficu to reveal the data of investors from the lt company itself because it has been kept as a secret document. Comparisons between telephonic & personal interview
Respondent Rate(Average)
80 70 60
50 40 30 35 Respondent rate(average) 75
20 10 0
telephonic interview persoanl interview
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From the data collected through the questioner, observation made during the personal visits the data revealed following information are as follows.
Percentage of People Invested In Various Financial Instrument Out Of Their Total Income
The following table and pie chart throw the light on the percentage of saving out of income. Part of income Below 20% 20-40% 40-70% Above 70% No of Respondents 28 40 28 4
Investors
Below 20% 20-40% 40-70% Above 70%
4% 28% 28%
40%
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Interpretation Of the sample size 100, there are 28 respondents are invested below 20% part of the income in various financial instrument, 40 respondents are invested between 20 -40% part of the income and very less (only 4) respondents who are invested their above 70% part of the income in various financial instrument.
8%
92%
Interpretation In these chart we can see that out of 100 respondents, percentage of awareness of mutual fund is 92% so I think in India day to day, people who are aware with Reliance mutual fund are growing rapidly. As well as people are willing to invest their money in Reliance mutual fund.
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Other 22%
Risky 16%
Safe 62%
Interpretation From the above chart we can see that in the current scenario people are not feel that mutual fund are more riskier likewise share. Because here group of professional people are managed it very well. As well as investment are diversified thus risk are decreasing.
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Percentage
45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Brand Name Good Services High Yield Adversiment Any Other Reason Any Other Reason
Brand Name
Good Services
High Yield
Adversiment
Interpretation From the above chart it is clear that Brand Name plays an important role for attracting investors. Secondly, good services are also expected by an investor from the companies. In other reasons investors generally pointed out the identification of the compa nies known by their friends or relatives. Advertisements and high yield are the secondary aspects of identifying the mutual fund industries.
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Balance Scheme 5%
Income Scheme 5%
Interpretation Growth scheme are very popular comparatively than money market, liquid, income and tax saver scheme. Though growth scheme are totally invested in equity market with high risk taking.
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60%
50%
40%
30% 55%
20%
10%
37%
1 %
0%
good medium low
good
medium
low
Interpretation Out of 100 respondents, there are 55% investors are satisfied with Reliance mutual fund returns.
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Sa i ac i
Highly Satisfied Satisfied
Level
Unsatisfied Highly Unsatisfied
Somewhat Satisfied
5%
10%
15%
62%
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Interpretation 62% investors are highly satisfied with their return of schemes, services that their provided. Whereas only few investors are unsatisfied with Reliance mutual fund.
Source of Awareness
News Paper T.V. Financial Magazines 2% Reference groups Brokers/agents Mail
%
1 %
4%
72%
6%
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Interpretation Out of 100 Respondents,72% investors have said that they are know about reliance mutual fund from their brokers/agents whereas only few percentage of another sources are affected in making knowledge about reliance mutual fund into investors.
68%
Yes
Interpretation Only 68% investors have said that they havent filled a feedback form. From that I can know that company make a little bit effort in conducting feedback from investors.
No
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Chapter 7 Findings
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Project Findings
During my personal visit, I found some of the people who were personally contacted showed reservation about dealing with RELIANCE MUTUAL FUND LTD.
Company has put less effort in advertising & promotion activity as compared to another mutual fund company. There is no doubt that most of investors are aware with reliance mutual fund from their prospective brokers/agents.
As I saw that only one Registrar and Transfer agents (RTA) office in entire North Gujarat (N.G) who are handling the all brokers/agents throughout all the city. As compared to another Mutual fund house it is very low. So Reliance mutual fund has to improve their distribution channel.
Reliance mutual funds equity schemes are convenient for small investors like students, ( farmers) because their initial amount in investing in SIP (Systematic investment plan) is only 100 Rs. Which are minimum initial amount is 500 or 1000 Rs. in any other mutual fund schemes.
Reliance mutual fund almost removed their LOAD Charges (Entry load/ Exit load) which are still in almost another comparative mutual fund schemes. It has worked positively in favor of reliance mutual fund. All most investor(Existing/New) are aware with the name of Reliance mutual fund but do not in detail about which are the Reliance mutual fu schemes, their advantages, area nd investment. of
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Chapter 8 Limitations
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Limitations
Every work has its own limitation. Limitations of this project are:-
1. Duration of Project was short which might have had a bearing on the conclusion. Time Constraint has been a hindrance.
2. The Sample Size of 100 units may not represent the large population of investors, optimally and the same would have effected of the findings to some extend.
3. Sometimes people give their opinion under some influences; as a result accuracy of these studies is decreasing.
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Though the awareness of the company as a whole is very strong in the market, it has been observed that the market lacks the awareness about the individual schemes offered by RMF. Accordingly it is recommended to promote the individual schemes more aggressively through the following
The prospective clients may be imparted training and education through : (I) Seminar. (II) Short Duration training programmers.
Small towns may be targeted for business development as this area is untapped relatively and there exist huge potential for business development
Company has to put effort in advertising and promotion activity particularly scheme wise so that people are more aware with reliance mutual fund as a scheme wise. Reliance mutual fund shall improve their after sale services. Company has to obtain feedback from their existing investor so can they better know what the exactly clients required.
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QUESTIONAIRE
1. 2.
3. Age: -
1. WHAT PERCENTAGE OF INCOME DO YOU INVEST? OVER 50% 30% TO 50% 10% TO 30% Below 10%
2. WHAT IS YOUR PERCEPTION ABOUT MUTUAL FUNDS? Safe Risky Others 3. HOW DO YOU SELECT A MUTUAL FUND COMPANYS? Brand Name Good Service High Yield Advertisement Any Other Reason...........................................
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4. ARE YOU AWARE OF RELIANCE MUTUAL FUNDS? Yes No 5. HAVE YOU INVESTED IN RELIANCE MUTUAL FUNDS? Yes No
IF NO THAN, 6-A) WHY DO YOU THNK THAT RELAINCE MUTAUL FUND IS NOT PREFERABLE THAN OTHER COMPARATIVE MUTUAL FUND? High Risk Involved as Returns Are Not Assured. NAV is not Increasing (Growth of the scheme is law) Any Other Reason Please Specify
IF YES THAN, 6-B) WHAT ARE DIFFERENT TYPES OF RELLIANCE MUTUAL FUNDS schemes ARE YOU AWARE OF?
Growth schemes.(provide appreciation of capital over medium to long term) Income schemes.(provide regular and continuous income to investor) Balance schemes.(provide both growth and income) Money market and Liquid Schemes.(provide easy liquidy preservation of capital and moderate income). Tax saving schemes.(offer tax rebates under tax laws) Guilt funds(generating returns by investing in securities created and issued b a central y Gov. or state Gov.)
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7. WHICH OF THEM DO YOU PREFER the MOST? Growth schemes Income schemes Balance schemes Money Market and Liquid schemes Tax saving schemes Guilt Funds 8. DO YOU GET THE DESIRED RETURN FROM THE REALINCE MUTAUL FUND SCHEMES? GOOD MEDIUM LOW 9. HOW MANY SERVICES DO YOU REALLY GET FROM THE REALINCE MUTAUL FUND? Current NAV of Scheme Query Solution Switching Any Time Money Online & Offline services(Email & mobile Messages) Brokerage Charges Key Information Memorandum(KIM)/Offer document Quarterly / Yearly annual reports (Performance Booklet) Delivery of Cheque (Redemption) Auto Debit On Time Free Insurance
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10. DO YOU FEEL SATISFIED WITH SERVICES PROVIDED BY RELIANCE MUTAUL FUND AFTER SEEING THE ABOVE INFORMATION? Highly satisfied Satisfied Somewhat satisfied Unsatisfied Highly unsatisfied
11. HOW DO YOU PERCIEVE RELIANCE MUTAUL FUND COMPANYS? Professional Management Liquidity Good Return Capital Appreciation Tax Benefit Diversification Safety Flexibility 12. WOULD YOU CONSIDER AVAILING THE FINANCIAL CONSULTANCY OFFERED BY RELIANCE MUTUAL FUND LTD? YES NO 13. HAVE YOU EVER FILLED THE CUSTOMER FEEDBACK FORM FROM REALINACE CAPITAL ASSET MANAGEMENT COMPANY? YES NO
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14. HOW DID YOU COME TO KNOW ABOUT MUTUAL FUND INVESTMENT SCHEME? News Paper T.V. Financial Magazines Reference Groups Brokers/Agents Mail
Thank You Very Much For Your Kind Co-operation & For Taking Time To Complete This Questionnaire.
SIGNATURE PLACE:. ( )
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A. ) Are the mutual fund investments I buy from a bank or savings institution insured?
ANS. These investments are not like insured deposits. They are not guaranteed by the FDIC, they are not guaranteed by the bank or savings institution, and they are not guaranteed by the U.S. government. You are not protected against losses on the amount you inv est.
provide advice to you on these products. They can refer you to the sales desk for these services.
D.) How can I be sure I am investing in the right mutual fund or annuity?
ANS. A sales representative should ask you questions about how much risk you are willing to accept, your investment objectives and your financial resources and background.
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Chapter - 10 APPENDIX
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Bibliography
1. www.njindiainvest.com
2. http://mutualfunds.about.com
6. www.amfiindia.com
7. www.economictimes.com
8.
9.
12. www.karvymfs.com
13. www.reliancemutualfund.com
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