CONSUMER BEHAVIOUR ABOUT MUTUAL FUND IN KARVY.doc

8/10/2019 CONSUMER BEHAVIOUR ABOUT MUTUAL FUND IN KARVY.doc

1/141

SUMMER TRAINING REPORT ON

"CONSUMER BEHAVIOUR ABOUT MUTUAL FUND IN

KARVY"

Submitted in P!ti Fu#iment in A$!d %# De&!ee%# BBA

UNDER THE GUIDANCE OF'

F(ut) Guide Indu*t!i Guide

Submitted B)'

1
http://www.utimf.com/index.htmlhttp://images.google.co.in/imgres?imgurl=http://www.icicipruamc.com/stat/img/headerfooter/header.gif&imgrefurl=http://www.icicipruamc.com/asp/amc/contactus/body.asp%3Fbranch%3DBangalore%2520(Malleshwaram)&usg=__3CPKRqFQAcKWb8pWxLO5ihzo8No=&h=112&w=331&sz=8&hl=en&start=12&um=1&tbnid=aGsRSm4VRFdSYM:&tbnh=40&tbnw=119&prev=/images%3Fq%3Dicici%2Bpru%2Bmutul%2Bfund%26hl%3Den%26rlz%3D1G1GGLQ_ENIN334%26sa%3DG%26um%3D1http://images.google.co.in/imgres?imgurl=http://www.stockwatch.in/files/Birla-Sun-Life.jpg&imgrefurl=http://www.stockwatch.in/directory/830&usg=__AIbQ3weoPOOp91tqSperNILmBYA=&h=334&w=294&sz=35&hl=en&start=1&um=1&tbnid=z7A66e8jTPpXgM:&tbnh=119&tbnw=105&prev=/images%3Fq%3DBirla%2BMoney%2Bmutul%2Bfund%26hl%3Den%26rlz%3D1G1GGLQ_ENIN334%26sa%3DG%26um%3D1http://images.google.co.in/imgres?imgurl=http://img1.moneycontrol.com/images/entitygame/big/HDFC_Mutual_Fund_300.jpg&imgrefurl=http://www.moneycontrol.com/connections/UTI_Mutual_Fund/393418/393378&usg=__G_m0uN5s9WgxKvSQ-FSzBV87ucs=&h=360&w=300&sz=9&hl=en&start=1&um=1&tbnid=oZJ-DAr0YQu1YM:&tbnh=121&tbnw=101&prev=/images%3Fq%3DHDFC%2Bmutul%2Bfund%26hl%3Den%26rlz%3D1G1GGLQ_ENIN334%26um%3D1http://www.utimf.com/index.html


2/141

ACKNO+LEDGEMENT

I would like to take this opportunity to express my deep gratitude to all

those who, directly or indirectly made this project possible.I have got

considerable help and support in making this project report a reality from

many people.

I would like to thank M!, Sndee- S!i.*t.whose endeavor

for perfection, under fatigable zeal, innovation and dynamism

contributed in a big way in completing this project. This work is the

reflection of his thought, ideas, concept and above all his modest effort.

At last, I would like to thank my parents, friends and colleagues, who

have been a constant source of help and encouragement.

2


3/141

E/ECUTIVE SUMMARY

This project is completely based on market research of paint. nder this

research, we have taken !"" sample sizes of which !"" #uestionnaires

belong to $ companies like %arvy, TI, &irl, &irla, '()*, +eliance, I*I*I

ru. -e have taken only one brand mutual fund of these $ *ompanies.

In spite of research we have analyzed the brand mutual fund/ in

numerical nature. 0n the basis of that we have assessed the strong

brand and weak brand out of five brands. Then after we have

formulated the strategy of each brand in which we have told about

grabbing the market on the basis of12

3uality product rendered to customer.

To attain customer satisfaction

To reduce the price of brand so sales can be boost up.

To advertise their product which is socially accepted4

To advertise their product through prominent celebrity.

3


4/141

0n basis of weak brand, we have given recommendation in which we

mentioned how to strengthen the weak brand. This is the precise study

of project.

4


5/141

CONTENT

!. I5T+0(*TI05

6. 7TA8 )5(9

:. 7A;0+ 8A. +=9=A+*' 7=T'0(080?. The trustees shall be bound to make such disclosures to the unit

holders as are essential in order to keep them informed about any

information, which may have an adverse bearing on their investments.

@. @K of the unit holders with the prior approval of 9=&I can terminate

the A7* of the fund.

$. @K of the unit holders can pass a resolution to wind2up the scheme.

. An investor can send complaints to 9=&I, who will take up the matter

with the concerned 7utual )unds and follow up with them till they are

resolved.

18


19/141

ORGANISATION OF A MUTUAL FUND

There are many entities involved and the diagram below illustrates the

organisational set up of a mutual fund:

7utual funds have a typical organisation in which five key parlies or

players or special bodies or constituents are involved. They are1

The sponsors, the &oard of Trustees =0T/ or Trust *ompany

T*/

The Asset 7anagement *ompany A7*/

The custodian, and

19


20/141

T1e unit81%de!*

They are usually formed by an investment adviser or manager or

sponsor who selects and appoints a &0T, which, in turn, hires or

contracts a separate A7* which is run by professional managers.

The A7* conducts the necessary research, and based on it,

manages the fund or portfolio. It is responsible for floating, managing,

redeeming the schemesF it also handles the administrative chores. It

receives the fees for the services rendered by it. The custodian is

responsible far coordination with brokers, the actual transfer and

storage of stocks, and handling the property of the trust. 'e is

answerable to the A7*.As per the current regulations in force in

India, every 7) proposed by a sponsor has to be setup as a trust

under the Indian Trust Act, !BB6 and not as a company under the

*ompanies Act, !C@$/. The T!, however, was set up under a

special TI Act, !C$:. All 7)s have to be registered with the 9=&I. It

is re#uired that the first four constituents of the 7) should maintain

an arms length relationship among themselves in order to reduce

conflict of interests, and to safeguard the interests of the

investors.7utual funds can sell their units directly to the investors or

they may employ the sales forced brokers and agents for that

20


21/141

purpose. 9ome 7)s in the 9 charge their investors a sales fee for

the costs involved in selling the fund, and they are known as Jload

fundsJ. Those who do not charge, such a fee arc known as Jno2load

fundsJ. All funds charge their shareholders a management fee which

is paid out of the funds income.

S-%n*e!

The sponsor is the promoter of the mutual fund. 'e sponsor

establishes the mutual fund

9ponsor appoints the trustees .custodians and the A7* with prior

approval of 9=&!,and in and registers the same with

9=&!.accordance with regualation.

9ponsor must have at least @ years track record of business

interest in the financial markets,

9ponsor must have been profit making in at least : of the above @

years2

9ponsor must contribute at least >"K of the capital of the A7*.

21


22/141

T!u*tee

The mutual fund, which is a trust,is managed either by a trust

companies or a board of trustees and governed by the provisions of

the Indian Trust Act. The A7* and other functionaries are functially

accountable to trustees.

The sponsor executes and registers a trust deed in favour of the

trustees .the third schedule of 9=&! regulation specifies the

contents of the trust deed.

The appointment of all trustees has to be done with prior approval

of 9=&!

There must be at least > members in the board of trustees must be

independent.

Trustees of one mutual fund cannot be trustees of another mutual

fund, unless he is an independent trustees in both cases, and has

the approval of both the boards.

A**et Mn&ement C%m-n)

The trustees on the advise of the sponsors, usually appoint the A7*.

The A7* has to be 9=&! registered entity and should have a

22


23/141

minimum net worth management agreement with the A7*.which

spells out the functions of the A7*.

The following are various types of A7*s we have in India1

A7*s owned by banks.

A7*s owned by the Indian private sector companies

A7*s owned by the financial institutions.

A7*s owned by the foreign institution investors.

A7*s owned jointly by Indian and foreign sponsors.

AUDIT

8egal advisor advise mutual fund on regulatory and taxation issues.

=very mutual fund has an employee designated as compliance

officer, who works under the advise of the legal advisor. The A7*

aiso has its accounts and annual reports, these two sets of accounts

are re#uired to be statutory audited. 9=&! regulation stipulate that

auditors of the fund can not also be the auditors of the A7*2 the two

sets of accounts have to be

23


24/141

audited by to separate auditing firms. audotors charge a fee from the

mutual fund for these services.

T!n*#e!

As the fund stands ready to redeem the unit on any working day, the

transfer facility is found redundant. 'owever, if a transferee becomes

a holder of schemes units in an official capacity by operation of law

or is a scheduled bankE financial institution upon enforcement of a

pledge, then the trustee shall subject to production of necessary

evidence, procide to affect the transfer, if the intended transferee is

otherwise in line with terms of the schemes 2In case any

pledgeEcharge over the schemes units is the registered with the

trustee, transfer will be affected in accordance with the procedure

outlined in the detailed offer document.

BANKERS

A )unds activities involve dealing with money on a continuous basis

primarily with respects to buying and selling units, paying for

investment made, receiving the proceeds on sale of investment and

discharging its obligations towards operating expenses. A funds

bankers therefore play.

24


25/141

HO+ MUTUAL FUND +ORKS

T1e #%$ (1!t be%$ de*(!ibe* b!%d) t1e $%!0in& %# mutu

#und,

25


26/141

Regulatory Aspect

1) Investment in debt instrument should be only in rated debt instrument not

below investment grade rated by a redit rating ageny authori!ed to arry

suh ativity under the at"

2) #o mutual $und under all its sheme should own more than 10 % o$ any

om&any's &aid u& a&ital arrying voting rights"

3) (rans$ers o$ investment $rom one sheme to another in the same mutual $und

shall be allowed only i$

a) uh trans$ers are done at the &revailing mar*et &rie $or +uoted

instrument on s&ot basis"

b) (he seurities so trans$ers shall be in on$ormity with the investment

ob,etive o$ the sheme to whih suh trans$er has been made"

4) - sheme may invest in another sheme under the same -./ or any other

mutual $und without harging any $ees &rovided that aggregate intersheme

investment made by all sheme under the same management or in sheme

under the management o$ any other -./ shall not eeed $ive &er ent o$

the #- o$ the mutual $und"

26


27/141

5) (he initial issue e&enses in res&et o$ any sheme may not eeed si &er

ent o$ the $unds raised under the sheme"

6) very mutual $und shall get the seurities &urhased or trans$erred in the

name o$ the mutual $und on aount o$ the onerned sheme wherever

investment are intended to be o$ longterm nature"

7) ending de&loyment o$ $unds o$ a sheme in seurities in terms o$

investment ob,etives o$ the sheme a mutual $und an invest the $unds o$

the sheme in short term de&osits o$ sheduled ommerial ban*s"

8) very mutual $und shall be buy and sell seurities on the basis o$ deliveries

and shall in all ases o$ &urhases ta*e delivery o$ relative seurities and in

all ases o$ sale deliver the seurities and shall in no ase &ut itsel$ in a

&osition whereby it has to ma*e short sale or arry $orward transation or

engage in badla$inane"

27


28/141

Who can invest in mutual un!s in In!ia"

(he $ollowing &eo&le an invest in .utual $unds in India

Resi!ents inclu!ing#

esident Indian Individuals

Indian /om&anies

Indian (rusts /haritable Institutions

an*s

#onan*ing :inane /om&anies

Insurane /om&anies

rovident $unds

Non Resi!ents inclu!ing

#on esidents Indian

;ther /or&orate odies


29/141

A!vantages o Investment in Mutual Fun!

.utual :unds o$$er several bene$its to an investor that unmathed by the

other investment o&tions" (he ma,or bene$its are good &ostta returns and

reasonable sa$ety the other bene$its in investing in .utual :unds are

(ROF$))IONAL MANA*$M$NT#

.utual :unds em&loy the servies o$ e&eriened and s*illed &ro$essionals

and dediated investment researh team" (he whole team analyses the

&er$ormane and balane sheet o$ om&anies and selets them to ahieve the

ob,etives o$ the sheme"

(OT$NTIAL R$TURN#

.utual :unds have the &otential to &rovide a higher return to an investor

than any other o&tion over a reasonable &eriod o$ time"

DI+$R)IFICATION#

.utual :unds invest in a number o$ om&anies aross a wide ross setion

o$ industries and setors"

LI,UIDIT-#

(he investor an get the money &rom&tly at the net asset value related &ries

$rom the .utual :unds o&enended shemes" In loseended shemes the

units an be sold on a sto* ehange at the &revailing mar*et &rie"

29


30/141

TRAN)(AR$NC-#

.utual :unds have to dislose their holdings investment &attern and the

neessary in$ormation be$ore all investors under a regulation $ramewor*"

FL$.I/ILIT-#

Investment in .utual :unds o$$ers a lot o$ $leibility with $eatures o$

shemes suh as regular investment &lan regular withdrawal &lans and

dividend reinvestment &lans enabling systemati investment or withdrawal

o$ $unds"

AFFORDA/ILIT-#

mall investors with low investment $und are unable to highgrade or blue

hi& sto*s" -n investor through .utual :unds an be bene$ited $rom a

&ort$olio inluding o$ high &ried sto*""

W$LL R$*ULAT$D#

-ll .utual :unds are registered with I and I ats a wathdog so

the .utual :unds are well regulated

30


31/141

Disa!vantages o Mutual Fun!s

FLUCTUATIN* R$TURN)#

.utual $unds are li*e many other investments without a guaranteed return"

(here is always the &ossibility that the value o$ your mutual $und will

de&reiate" =nli*e $iedinome &roduts suh as bonds and (reasury bills

mutual $unds e&eriene &rie $lutuations along with the sto*s that ma*e

u& the $und"

DI+$R)IFICATION#

-lthough diversi$iationis one o$ the *eys to suess$ul investing many

mutual $und investors tend to over diversi$y" (he idea o$ diversi$iation is to

redue the ris*s assoiated with holding a single seurity> over

diversi$iation


32/141

ash" @aving am&le ash is great $or li+uidity but money sitting around as

ash is not wor*ing $or you and thus is not very advantageous"

CO)T)#

In mutual $unds the $ees are lassi$ied into two ategories shareholder $ees

and annual $undo&erating $ees"

(he shareholder $ees in the $orms o$ loads and redem&tion $ees are &aid

diretly by shareholders &urhasing or selling the $unds" (he annual $und

o&erating $ees are harged as an annual &erentage usually ranging $rom 1

3%" (hese $ees are assessed to mutual $und investors regardless o$ the

&er$ormane o$ the $und" Ahen the $und doesn?t ma*e money these $ees only

magni$y losses"

MI)L$ADIN* AD+$RTI)$M$NT)#

(he misleading advertisements o$ di$$erent $unds an guide investors down

the wrong &ath" ome $unds may be inorretly labeled as growth $unds

while others are lassi$ied as smalla& or inome"

$+ALUATIN* FUND)#

-nother disadvantage o$ mutual $unds is the di$$iulty they &ose $or

investors interested in researhing and evaluating the di$$erent $unds" =nli*e

sto*s mutual $unds do not o$$er investors the o&&ortunity to om&are the

ratio sales growth earnings &er share et"

32


33/141

TA/ ASPECT OF MUTUAL FUND

DIVIDEND MADE TA/8FREE

(ividend received from a domestic company and income distributed

by TI2I or any 7), to its unit holders has been made tax2free from

!.>.": onwards. 'owever, dividend declared, distributed or paid by

such sources shall be charged a distribution tax of N!$.CC@K flat.

This distribution tax is in addition to the normal income tax payable by

them.

CAPITAL GAIN TA/'

*apital gains are generated through the sale of stocks, bonds and

other investments, which have appreciated in value, from the fundMs

portfolio. There are no capital grain tax on 7) and stock market.

-hile 9T*? are subject to TaxN!"K even traded through stock

exchange and security from action tax has been paid. n#uated

sharesE 7) are subject to tax at normal rate of tax.

33


34/141

INCOME RECEIVED FROM MUTUAL FUND'

The Internal +evenue 9ervice might depend upon the nature of your

mutual fund investment. ?enerally, most income generated from a

mutual fund account, with the exception of tax2exempt money market

or municipal bond funds, is subject to federal taxes as ordinary

income or capital gains

+EALTH TA/'

nder sec 6!/e/ of -ealth tax Act it is not treated as an asset.

Therefore this is exempted from tax liability.

GIFT TA/'

7utual )und may be given as a gift and no tax is applicable by doner

or donee

TDS ON REDEMPTION'

5o T(9 is re#uired to be deducted from capital gain at the time of

redemption in case of mutual fund.

TA/ BENEFITS ON INVESTMENT IN MUTUAL FUND'

!/!""K Income Tax =xemption on all 7utual )und dividends.

6/*apital ?ains tax to be lower of O

!"K on the capital gains without factoring indexation benefits and

6"K on the capital gains after factoring indexation benefits.

34


35/141

:/0pen2end funds with e#uity exposure of more than @"K are

exempt of dividend tax for a period of : years from !CCC26""".

Another Investment Avenue featuring in the list of PeligibleQ

instruments is the =#uity 8inked 9aving 9cheme or tax saving funds.

9imply put, these are mutual fund schemes wherein investment upto

+s !"",""" #ualify for 9ection B" benefits. Investors are given the

uni#ue opportunity to invest in an e#uity2linked product and still claim

tax benefits on the sameF which is #uite a departure from

conventional tax saving instruments. Tax saving funds have a

mandatory :2


36/141

T7 *.in& #und*' Sm!t %n&8te!m -e!#%!me!*9

T7 S.in& Fund* NAV 2R*3 :8Y! ;8Y!


37/141

MUTUAL FUNDS IN INDIA

37


38/141

SI/ AMCS IN MUTUAL FUNDS

%A+H"K of the top2notch A7*s including prestigious clients like

(eutsche A7* and TI swear by the #uality and range of services

that we offer. &esides providing the entire back office processing, we

provide the link between various 7utual )unds and the investor,

including services to the distributor, the prime channel in this

operation.

*arrying the Slimitless ideology forward, we have explored new

dimensions in every aspect of 7utual )und servicing right from

volume management, cost effective pricing, delivery in the least

turnaround time, efficient back2office and front2office operations to

customized service. -e have been with the A7*s every step of the

62


63/141

way, helping them serve their investors better by offering them a

diverse and customized range of services. The Sfirst to market

approach that is our anthem has earned us the reputation of an

innovative service provider with a visionary bent of mind.

0ur service enhancements such as S%arvy *onverz, a full2fledged

call center, a top2line website www.karvymfs.com/, the Sm2investor

and many more, creating a galaxy of customer advantages.

I**ue Re&i*t!)

In our voyage towards becoming the largest transaction2processing

house in the Indian *orporate segment, we have mobilized funds for

numerous corporate, %arvy has emerged as the largest transaction2

processing house for the Indian *orporate sector. -ith an experience

of handling over "" issues, %arvy today, has the ability to execute

voluminous transactions and hard2core expertise in technology

applications have gained us the 5o.! slot in the business. %arvy is

63


64/141


65/141

%arvy has been a customer centric company since its inception.

%arvy offers a single platform servicing multiple financial instruments

in its bid to offer complete financial solutions to the varying needs of

both corporate and retail investors where an extensive range of

services are provided with great volume2management capability.

Today, %arvy is recognized as a company that can exceed customer

expectations which is the reason for the loyalty of customers towards

%arvy for all his financial needs. An opinion poll commissioned by

PThe 7erchant &anker pdateQ and conducted by the reputed market

research agency, 7A+? revealed that %arvy was considered the

P7ost AdmiredQ in the registrar category among financial services

companies.

-e have grown from being a pure transaction processing business,

to one of complete shareholder solutions.

65

CORPORATE SHAREHOLDER SERVICES


66/141

KARVY GLOBAL SERVICES LIMITED

The specialist &usiness rocess 0utsourcing unit of the %arvy ?roup.

The legacy of expertise and experience in financial services of the

%arvy ?roup serves us well as we enter the global arena with the

confidence of being able to deliver and deliver well.

'ere we offer several delivery models on the understanding that

business needs are uni#ue and therefore only a customized service

could possibly fit the bill. 0ur service matrix has permutations and

combinations that create several options to choose from.

&e it in re2engineering and managing processes or delivering new

efficiencies, our service meets up to the most stringent of

international standards. 0ur outsourcing models are designed for the

global customer and are backed by sound corporate and operations

philosophies, and domain expertise. roviding productivity

improvements, operational cost control, cost savings, improved

accountability and a whole gamut of other advantages.

66


67/141

-e operate in the core market segments that have emerging

re#uirements for specialized services. 0ur wide vertical market

coverage includes &anking, )inancial and Insurance 9ervices &)I9/,

+etail and 7erchandising, 8eisure and =ntertainment, =nergy and

tility and 'ealthcare.

0ur horizontal offerings do justice to our stance as a comprehensive

&0 unit and include a variety of services in )inance and Accounting

0utsourcing 0perations, 'uman +esource 0utsourcing 0perations,

+esearch and Analytics 0utsourcing 0perations and Insurance &ack

0ffice 0utsourcing 0perations

67


68/141

KARVY COMTRADE LIMITED

At %arvy *ommodities, we are focused on taking commodities trading

to new dimensions of reliability and profitability. -e have made

commodities trading, an essentially age2old practice, into a

sophisticated and scientific investment option.

'ere we enable trade in all goods and products of agricultural and

mineral origin that include lucrative commodities like gold and silver

and popular items like oil, pulses and cotton through a well2

systematized trading platform.

0ur technological and infrastructural strengths and especially our

street2smart skills make us an ideal broker. 0ur service matrix is

holistic with a gamut of advantages, the first and foremost being our

legacy of human resources, technology and infrastructure that comes

from being part of the %arvy ?roup.

68


69/141

0ur wide national network, spanning the length and breadth of India,

further supports these advantages. +egular trading workshops and

seminars are conducted to hone trading strategies to perfection.

=very move made is a calculated one, based on reliable research

that is converted into valuable information through daily, weekly and

monthly newsletters, calls and intraday alerts. )urther, personalized

service is provided here by a dedicated team committed to giving

hassle2free service while the brokerage rates offered are extremely

competitive.

0ur commitment to excel in this sector stems from the immense

importance that commodities broking has to a cross2section of

investors LndashF farmers, exporters, importers, manufacturers and

the ?overnment of India itself.

69


70/141

KARVY INSURANCE BROKING PRIVATE LIMITED

At %arvy Insurance &roking vt. 8td., we provide both life and non2life

insurance products to retail individuals, high net2worth clients and

corporates. -ith the opening up of the insurance sector and with a

large number of private players in the business, we are in a position

to provide tailor made policies for different segments of customers. In

our journey to emerge as a personal finance advisor, we will be better

positioned to leverage our relationships with the product providers

and place the re#uirements of our customers appropriately with the

product providers. -ith Indian markets seeing a sea change, both in

terms of investment pattern and attitude of investors, insurance is no

more seen as only a tax saving product but also as an investment

product. &y setting up a separate entity, we would be positioned to

provide the best of the products available in this business to our

customers.

0ur wide national network, spanning the length and breadth of India,

further supports these advantages. )urther, personalized service is

provided here by a dedicated team committed in giving hassle2free

service to the clients.

70


71/141

KARVY REALTY SERVICES 2INDIA3 LIMITED

%A+H< +ealty L 9ervices India/ 8imited %+9I8/ is engaged in the

business of real estate and property services offering value added

property services and offers individuals and establishments a myriad

of options across investments, financing and advisory services in the

realty sector.

71


72/141

KARVY CONSULTANTS LIMITED

B%!d %# Di!e(t%!*

7r. * arthasarathy

*hairman

7r. 7


73/141

K!.) St%(0 B!%0in& Limited

B%!d %# Di!e(t%!*

7r. * arthasarathy

(irector

7r. 7


74/141


75/141


76/141

KARVY GLOBAL SERVICES LIMITED

B%!d %# Di!e(t%!*

7r. * arthasarathy

(irector

7r. 7


77/141

KARVY COMTRADE LIMITED

B%!d %# Di!e(t%!*

7r. * arthasarathy

*hairman

7r. 7


78/141

KARVY INSURANCE BROKING PRIVATE LIMITED

B%!d %# Di!e(t%!*

7r. * arthasarathy

*hairman

7r. 7


79/141

ACHIEVEMENTS

Among the top @ stock brokers in India >K of 59= volumes/

Indias 5o. ! +egistrar L 9ecurities Transfer Agents

Among the to top : (epository articipants

8argest 5etwork of &ranches L &usiness Associates

I90 C""6 certified operations by (5H

Among top !" Investment bankers

8argest (istributor of )inancial roducts

Adjudged as one of the top @" IT uses in India by 7I9 Asia

)ull )ledged IT driven operations

79


80/141

UTI MUTUL FUND

Int!%du(ti%n

Vi*i%n

To be the most referred 7utual )und.

Ou! mi**i%n i* t% m0e UTI Mutu Fund'

U The most trusted brand, admired by all stakeholders

U The largest and most efficient money manager with global

presence

U The best in class customer service provider

U The most preferred employer

U The most innovative and best wealth creator

U A socially responsible organisation known for best corporate

governance

80
http://www.utimf.com/index.html


81/141

Gene*i*

;anuary !>, 6"": is when TI 7utual )und started to pave its path

following the vision of TI Asset 7anagement *o. 8td. TIA7*/,

which was appointed by TI Trustee *o, vt. 8td. for managing the

schemes of TI 7utual )und and the schemes transferredEmigrated

from the erstwhile nit Trust of India.

TIA7* provides professionally managed back office support for all

business services of TI 7utual )und in accordance with the

provisions of the Investment 7anagement Agreement, the Trust

(eed, the 9=&I 7utual )unds/ +egulations and the objectives of

the schemes. 9tate2of2the2art systems and communications are in

place to ensure a seamless flow across the various activities

undertaken by TI7).

9ince )ebruary :, 6"">, TIA7* is also a registered portfolio

manager under the 9=&I ortfolio 7anagers/ +egulations, !CC: for

undertaking portfolio management services. TIA7* also acts as

the manager and marketer to offshore funds through its !"" K

subsidiary, TI International 8imited, registered in ?uernsey,

*hannel Islands.

81


82/141

A**et* Unde! Mn&ement

TIA7* presently manages a corpus of over +s. $,CB *roresV as

on :"th ;une 6""C source1 www.amfiindia.com/. TI 7utual )und

has a track record of managing a variety of schemes catering to the

needs of every class of citizens. It has a nationwide network

consisting !!> TI )inancial *entres )*s/ and TI International

offices in 8ondon, (ubai and &ahrain. -ith a view to reach to

common investors at district level, ! satellite office have also been

opened.

TIA7* has a well2#ualified, professional fund management team,

which has been fully empowered to manage funds with greater

efficiency and accountability in the sole interest of the unit holders.

The fund managers are ably supported by a strong in2house

securities research department. To ensure investorsM interests, a risk

management department is also in operation.

Reibiit)

TI7) has consistently reset and upgraded transparency standards.

All the branches, )*s and registrar offices are connected on a

robust IT network to ensure cost2effective #uick and efficient service.

82
http://www.amfiindia.com/http://www.amfiindia.com/


83/141

All these have evolved TI7) to position as a dynamic, responsive,

restructured, efficient and transparent entity, fully compliant with

9=&I regulations.

s received by UTI Mutual Fund

UTI MF CNBC Award 2009...more

UTI Mutual Fund sweeps ICRA mutual fund Award 2009...

UTI MF wins the Best e!t Fund "ouse Award...

#olden $ea%o%& Inno'ati'e $rodu%t()er'i%e Award*200+...

,o-alt- Awards * 2009 ...

,ipper Fund Awards09*UTI Mahila Unit* -rs...

,ipper Fund Awards09*UTI Mahila Unit*/ -rs...

Readers i1est Trusted Brand 200+...

,ipper Fund Awards * #ulf 200+...

Top $erformin1 Infrastru%ture Fund * In%ome ...

Brand lo-alt- Awards 200+...

Four ICRA )tar #old Award...

83


84/141

Four ICRA )tar Award...

ICRA Mutual Fund Award 200...

,ipper Fund Awards 200...

CRI)I,*CNBC*T34+*Mutual Fund of the -ear Award 200...

ICRA Mutual Fund Award 2005...

,ipper Fund Awards...

CNBC*T34+*BN$ $ar*i!as Mutual Fund of the -ear Award

2005...

CNBC*T34+*BN$ $ar*i!as Mutual Fund of the -ear

Award...

ICRA online Mutual Fund Award6 UTI NIFT7 IN8 FUN

won the award for the -ear 200:...

CNBC India Mutual Fund of the 7ear Award...

UTI Nift- Inde; Fund wins #old at ICRA


85/141

UTI Mutual Funds in'estment philosoph- is to deli'er

%onsistent and sta!le returns in the medium to lon1 term with

a fairl- lower 'olatilit- of fund returns %ompared to the !road

mar&et. It !elie'es in ha'in1 a !alan%ed and well*di'ersified

portfolio for all the funds and a ri1orous in*house resear%h

!ased approa%h to all its in'estments. It is %ommitted to adopt

and maintain 1ood fund mana1ement pra%ti%es and a pro%ess

!ased in'estment mana1ement.

UTI Mutual Fund follows an in'estment approa%h of 1i'in1 as

e=ual an importan%e to asset allo%ation and se%toral

allo%ation> as is 1i'en to se%urit- sele%tion while mana1in1

an- fund. It %om!ines top*down and !ottom*up approa%hes to

ena!le the portfolios(funds to adapt to different mar&et

%onditions so as to pre'ent missin1 an in'estment

opportunit-.

In terms of its funds performan%e> UTI Mutual Fund aims to

%onsistentl- remain in the top =uartile 'is*?*'is the funds in

the peer 1roup.

85


86/141

Mum!ai

4stFe! 200/

86


87/141

S-%n*%!*

Three leading public sector banks O &ank of &aroda, unjab 5ational

&ank and 9tate &ank of India and 8ife Insurance *orporation of India

8I*/, the largest public financial investment institution and life insurer

in India are the sponsors of TI 7utual )und.

Bn0 %# B!%d'8

&ank of &aroda is a commercial bank performing activities in terms of

&anking *ompanies Ac#uisition and Transfer of ndertakings Act

!C"/ under which the ndertaking of the &ank was taken over by

the *entral ?overnment. (uring the period since inception, it has

always maintained its practice of sound value based banking to

emerge as one of the premier public sector &anks of the country

today. It has a track record of uninterrupted profits since inception in

!C"B. The financial strength of the &ank and its long tradition of

efficient customer service are drawn substantially from the extensive

reach of its 6:6 strong branch network as of :!.":.6""/ covering

almost every 9tate and nion Territory in the *ountry. The &ank is

also one of the few Indian &anks with a formidable presence

87


88/141

overseas with >" branches. Thus, the total branch network is 6,6

as at :!.":.6"".

Li#e In*u!n(e C%!-%!ti%n %# Indi

8ife Insurance *orporation of India 8I*/ is amongst the largest

insurance companies in the world, with 6">B branches and having a

)und size of +s.2@,$",B"$.:: crore.

Pun4b Nti%n Bn0

unjab 5ational &ank is a commercial bank performing activities in

terms of &anking *ompanies Ac#uisition and Transfer of

ndertakings Act !C"/ under which the ndertaking of the &ank was

taken over by the *entral ?overnment. The main object of the bank

under the said Act is as below12 An act to provide for the ac#uisition

and transfer of the undertaking of certain banking companies, having

regard to their size, resources coverage and organisation, in order to

further to control the heights of the economy, to meet progressively

and serve better, the needs of the development of the economy and

to promote the welfare of the people, in conformity with the policy of

the 9tate towards securing the principles laid down in clause b/ and

88


89/141


90/141

TI Asset 7anagement *o. 8td. TIA7*/ is a company incorporated

under The *ompanies Act, !C@$.

TIA7* was appointed as the Asset 7anagement *ompany of the TI

7utual )und in terms of the Investment 7anagement Agreement

executed between TI Trustee *o. 8td. and TIA7* on (ecember C,

6""6. TIA7* was registered by 9=&I to act as the asset

management company for TI 7utual )und vide its letter of ;anuary !>,

6"":.

The paid up capital of TIA7* has been subscribed e#ually by four

sponsors1 9tate &ank of India, 8ife Insurance *orporation of India, &ank

of &aroda and unjab 5ational &ank. TIA7*, apart from managing

the schemes of TI 7utual )und, also manages the schemes

transferredEmigrated from the erstwhile nit Trust of India, in

accordance with the provisions of the Investment 7anagement

Agreement, the Trust (eed, the 9=&I 7utual )unds/ +egulations and

the objectives of the schemes.

90


91/141

TIA7* has also entered into a service agreement with the

Administrator of the 9pecified ndertaking of the nit Trust of India

9TI/ to provide them with back office support for business

processes.

TIA7* is also a registered ortfolio 7anager under the 9=&I

ortfolio 7anagers/ +egulations, !CC: since )ebruary :, 6""> for

undertaking portfolio management services.

Sub*idi!ie*

TI International 8td. TII8/ is a !""K subsidiary of TIA7*,

registered in ?uernsey, *hannel Islands, which acts as the manager to

offshore funds and markets these offshore funds abroad. Towards

expansion of its activities, TII8 has signed a joint venture agreement

with 9hinsei &ank 8td. of ;apan to set up TI International 9ingapore/

vt. 8td.

TII8 is focussed on investment management and distribution of

financial products in the 9outh =ast Asian region. TII8 also manages

funds investing in other jurisdictions.

TI +etirement 9olutions 8td. TI+98/, is a !""K subsidiary of

TIA7* which was incorporated in (ecember, 6"" and started

91


92/141

operations w.e.f. 7arch, 6""B. TI+98 has been set up to carry out the

operations as a ension )und 7anager under the 5ew ension

9ystem set up by ension )und +egulatory and (evelopment Authority

)+(A/.

TI+98 was initially appointed by the 59 to manage the pension

funds of the government employees. In 7arch, 6""C, the *ompany has

also been appointed by 59 for management of pension funds for non2

government employees.

Di!e(t%!* %# UTIAMC

S1!i U, K, Sin1

*hairman L 7anaging (irector

TIA7* 8td.

TI Tower, S?nM &lock

&andra %urla *omplex

&andra =ast/

7umbai 2 >"" "@!

S1!i S, C, B1!&.

5on2=xecutive *hairman

0T* =xchange of India

)lat 5o.!>, 3ueens *ourt

92


93/141

7aharshi %arve +oad

*hurchgate

7umbai >"" "6"

D!, K, C, Mi*1!

(irector

5ational Insurance Academy

&62:6, =lite =mpire

&alewadi

une 2 >!! ">@

M*, Anit Rm(1nd!n

(irector L *=0

*erebrus *onsultants vt. 8td.

!:, 5avroze Apartments

&hulabhai (esai +oad

7umbai 2 >"" "6$

S1!i P!it1.i Hde

*hairman L 7anaging (irector

raxis *onsulting L Information

9ervices vt. 8td.

*2!"!, +ishi Apartments

93


94/141

Alaknanda

5ew (elhi2!!" "!C

S1!i P, R, K1nn

*hartered Accountant

", 9undar 5agar

5ew (elhi 2 !!" "":

94


95/141

RELIANCE MUTUAL FUND

+eliance 7utual )und +7)/ is one of IndiaMs leading 7utual )unds,

with Assets nder 7anagement A7/ of +s. C:,@:6 crore A7 as

on 6Cth )eb "B/ and an investor base of over $@.: 8akhs. +eliance

7utual )und, a part of the +eliance 2 Anil (hirubhai Ambani ?roup, is

one of the fastest growing mutual funds in the country. +7) offers

investors a well2rounded portfolio of products to meet varying investor

re#uirements and has presence in !!@ cities across the country.

+eliance 7utual )und constantly endeavors to launch innovative

products and customer service initiatives to increase value to

investors. J+eliance 7utual )und schemes are managed by +eliance

*apital Asset 7anagement 8imited., a subsidiary of +eliance *apital

8imited, which holds C:.:K of the paid2up capital of +*A7, the

balance paid up capital being held by minority shareholders.J+eliance

*apital 8td. is one of IndiaMs leading and fastest growing private

sector financial services companies, and ranks among the top :

private sector financial services and banking companies, in terms of

95


96/141

net worth. +eliance *apital 8td. has interests in asset management,

life and general insurance, private e#uity and proprietary investments,

stock broking and other financial services.

Vi*i%n Sttement

T% be &%b) !e*-e(ted $et1 (!et%! $it1 n em-1*i* %n

(u*t%me! (!e nd (utu!e %# &%%d (%!-%!te &%.e!nn(e,

Mi**i%n Sttement

T% (!ete nd nu!tu!e $%!d8(** 1i&1 -e!#%!mn(e

en.i!%nment imed t dei&1tin& %u! (u*t%me!*,

C%!-%!te G%.e!nn(e

Ou! C%!-%!te G%.e!nn(e P%i()'

+eliance *apital Asset 7anagement 8td. has a vision of being a

leading player in the 7utual )und business and has achieved

significant success and visibility in the market. 'owever, an

imperative part of growth and visibility is adherence to ?ood *onduct

in the marketplace.

At +eliance *apital Asset 7anagement 8td., the implementation and

observance of ethical processes and policies has helped us in

standing up to the scrutiny of our domestic and internationalinvestors.

96


97/141

Mn&ement '

The management at +eliance *apital Asset 7anagement 8td. is

committed to good *orporate ?overnance, which includes

transparency and timely dissemination of information to its investors

and unit holders. The &oard of (irectors of +*A7 is a professional

body, including well2experienced and knowledgeable Independent

7embers. +egular Audit *ommittee meetings are conducted to

review the operations and performance of the company.

Em-%)ee* '

+eliance *apital Asset 7anagement 8td. has at present, a code of

conduct for all its officers. It has a clearly defined prohibition on

insider trading policy and regulations. The management believes in

the principles of propriety and utmost care is taken while handling

public money, making proper and ade#uate disclosures. All personnel

at +eliance *apital Asset 7anagement 8td are made aware of their

rights, obligations and duties as part of the (ealing olicy laid down

in terms of 9=&I guidelines. They are taken through a well2designed

'+ program, conducted to impart work ethics, the *ode of *onduct,

information security, Internet and e2mail usage and a host of other

issues. 0ne of the core objectives of +eliance *apital Asset

97


98/141

7anagement 8td. is to identify issues considered sensitive by global

corporate standards, and implement policiesEguidelines in conformity

with the best practices as an ongoing process. +eliance *apital Asset

7anagement 8td. gives top priority to compliance in true letter and

spirit, fully understanding its fiduciary responsibilities.

98


99/141

HDFC MUTUL FUND

About s

HDFC A**et Mn&ement C%m-n) Limited 2AMC3

'()* Asset 7anagement *ompany 8td A7*/ was incorporated

under the *ompanies Act, !C@$, on (ecember !", !CCC, and was

approved to act as an Asset 7anagement *ompany for the '()*

7utual )und by 9=&I vide its letter dated ;uly :, 6""".

The registered office of the A7* is situated at +amon 'ouse, :rd

)loor, '.T. arekh 7arg, !$C, &ackbay +eclamation, *hurchgate,

7umbai 2 >"" "6".

In terms of the Investment 7anagement Agreement, the Trustee has

appointed the '()* Asset 7anagement *ompany 8imited to

manage the 7utual )und. The paid up capital of the A7* is +s.

6@.!$! crore.

The present e#uity shareholding pattern of the A7* is as follows 1

P!ti(u!* ? %# t1e -id u- e5uit) (-it

99
http://images.google.co.in/imgres?imgurl=http://img1.moneycontrol.com/images/entitygame/big/HDFC_Mutual_Fund_300.jpg&imgrefurl=http://www.moneycontrol.com/connections/UTI_Mutual_Fund/393418/393378&usg=__G_m0uN5s9WgxKvSQ-FSzBV87ucs=&h=360&w=300&sz=9&hl=en&start=1&um=1&tbnid=oZJ-DAr0YQu1YM:&tbnh=121&tbnw=101&prev=/images%3Fq%3DHDFC%2Bmutul%2Bfund%26hl%3Den%26rlz%3D1G1GGLQ_ENIN334%26um%3D1


100/141

'ousing (evelopment )inance *orporation 8imited $"

9tandard 8ife Investments 8imited >"

Wurich Insurance *ompany WI*/, the 9ponsor of Wurich India 7utual

)und, following a review of its overall strategy, had decided to divest

its Asset 7anagement business in India. The A7* had entered into

an agreement with WI* to ac#uire the said business, subject to

necessary regulatory approvals.

0n obtaining the regulatory approvals, the following 9chemes of

Wurich India 7utual )und have migrated to '()* 7utual )und on

;une !C, 6"":. These 9chemes have been renamed as follows1

F%!me! Nme Ne$ Nme

Wurich India =#uity )und '()* =#uity )und

Wurich India rudence )und '()* rudence )und

Wurich India *apital &uilder )und '()* *apital &uilder )und

Wurich India Tax9aver )und '()* Tax9aver

Wurich India Top 6"" )und '()* Top 6"" )und

Wurich India 'igh Interest )und '()* 'igh Interest )und

Wurich India 8i#uidity )und '()* *ash 7anagement )und

Wurich India 9overeign ?ilt )und '()* 9overeign ?ilt )undV

100


101/141

V'()* 9overeign ?ilt )und has been wound up in 7arch 6""$

The A7* is managing 6> open2ended schemes of the 7utual )und

viz. '()* ?rowth )und '?)/, '()* &alanced )und '&)/, '()*

Income )und 'I)/, '()* 8i#uid )und '8)/, '()* 8ong Term

Advantage )und '8TA)/, '()* *hildrens ?ift )und '()* *?)/,

'()* ?ilt )und '?I8T/, '()* 9hort Term lan '9T/, '()*

Index )und, '()* )loating +ate Income )und ')+I)/, '()*

=#uity )und '=)/, '()* Top 6"" )und 'T6""/, '()* *apital

&uilder )und '*&)/, '()* Tax9aver 'T9/, '()* rudence )und

')/, '()* 'igh Interest )und ''I)/, '()* *ash 7anagement

)und '*7)/, '()* 7) 7onthly Income lan '7I/, '()* *ore

L 9atellite )und '*9)/, '()* 7ultiple


102/141

lans, '()* )ixed 7aturity lans 2 9eries II, '()* )ixed 7aturity

lans 2 9eries III, '()* )ixed 7aturity lans 2 9eries IH, '()*

)ixed 7aturity lans 2 9eries H, '()* )ixed 7aturity lans 2 9eries

HI, ')(* )ixed 7aturity lans 2 9eries HII, ')(* )ixed 7aturity

lans 2 9eries HIII, ')(* )ixed 7aturity lans 2 9eries ID and ')(*

)ixed 7aturity lans 2 9eries D.

The A7* is also providing portfolio management E advisory services

and such activities are not in conflict with the activities of the 7utual

)und. The A7* has renewed its registration from 9=&I vide

+egistration 5o. 2 7 E I5""""""@"$ dated (ecember B, 6""$ to

act as a ortfolio 7anager under the 9=&I ortfolio 7anagers/

+egulations, !CC:. The *ertificate of +egistration is valid from

;anuary !, 6"" to (ecember :!, 6""C.

102


103/141

HDFC

HDFC

'()* was incorporated under the *ompanies Act, !C@$, on

(ecember !", !CCC, and was approved to act as an Asset

7anagement *ompany for the '()* 7utual )und by 9=&I vide its

letter dated ;une :", 6""".

The registered office of the A7* is situated at +amon 'ouse, :rd

)loor, '.T. arekh 7arg, !$C, &ackbay +eclamation, *hurchgate,

7umbai 2 >"" "6".

In terms of the Investment 7anagement Agreement, the Trustee has

appointed the '()* Asset 7anagement *ompany 8imited to

manage the 7utual )und. The paid up capital of the A7* is +s.

6@.!$! crore.

The present e#uity shareholding pattern of the A7* is as follows 1

P!ti(u!* ? %# t1e -id u- e5uit)

(-it

'ousing (evelopment )inance *orporation 8imited $"

9tandard 8ife Investments 8imited >"

103


104/141

Wurich Insurance *ompany WI*/, the 9ponsor of Wurich India 7utual

)und, following a review of its overall strategy, had decided to divest

its Asset 7anagement business in India. The A7* had entered into

an agreement with WI* to ac#uire the said business, subject to

necessary regulatory approvals.

0n obtaining the regulatory approvals, the following 9chemes of

Wurich India 7utual )und have migrated to '()* 7utual )und on

;une !C, 6"":. These 9chemes have been renamed as follows1

F%!me! Nme Ne$ Nme

Wurich India *apital &uilder )und '()* *apital &uilder )und

Wurich India =#uity )und '()* =#uity )und

Wurich India 'igh Interest )und '()* 'igh Interest )und

Wurich India 8i#uidity )und '()* *ash 7anagement )und

Wurich India rudence )und '()* rudence )und

Wurich India 9overeign ?ilt )und '()* 9overeign ?ilt )undV

Wurich India Tax9aver )und '()* Tax9aver

Wurich India Top 6"" )und '()* Top 6"" )und

104


105/141

V'()* 9overeign ?ilt )und has been wound up in 7arch 6""$.

The A7* is also providing portfolio management E advisory services

and such activities are not in conflict with the activities of the 7utual

)und. The A7* has renewed its registration from 9=&I vide

+egistration 5o. 2 7 E I5""""""@"$ dated (ecember B, 6""$ to

act as a ortfolio 7anager under the 9=&I ortfolio 7anagers/

+egulations, !CC:. The *ertificate of +egistration is valid from

;anuary !, 6"" to (ecember :!, 6""C.

T1e B%!d %# Di!e(t%!* %# t1e HDFC A**et Mn&ement

C%m-n) Limited 2AMC3 (%n*i*t* %# t1e #%%$in& eminent

-e!*%n*,

7r. (eepak 9. arekh

7r. 5. %eith 9keoch

7r. %eki 7. 7istry

7r. ;ames Aird

7r. . 7. Thampi

7r. 'umayun (hanrajgir

(r. (eepak &. hatak

105
http://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#DeepakS.Parekh%23DeepakS.Parekhhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#N.KeithSkeoch%23N.KeithSkeochhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#KekiM.Mistry%23KekiM.Mistryhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#JamesAird%23JamesAirdhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#P.M.Thampi%23P.M.Thampihttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#HumayunDhanrajgir%23HumayunDhanrajgirhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#DeepakB.Phatak%23DeepakB.Phatakhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#DeepakS.Parekh%23DeepakS.Parekhhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#N.KeithSkeoch%23N.KeithSkeochhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#KekiM.Mistry%23KekiM.Mistryhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#JamesAird%23JamesAirdhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#P.M.Thampi%23P.M.Thampihttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#HumayunDhanrajgir%23HumayunDhanrajgirhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#DeepakB.Phatak%23DeepakB.Phatak


106/141

7r. 'oshang 9. &illimoria

7r. +ajeshwar +aj &ajaaj

7r. Hijay 7erchant

7s. +enu 9. %arnad

7r. 7ilind &arve

M!, Dee-0 S, P!e01

7r. (eepak arekh, the *hairman of the &oard, is associated with

'()* 8td. in his capacity as its =xecutive *hairman.

7r. arekh joined '()* 8td. in a senior management position in

!CB. 'e was inducted as -holetime (irector of '()* 8td. in !CB@

and was appointed as the =xecutive *hairman in !CC:.

'is other (irectorships as on 7arch :!, 6""C are as follows1

C%m-n)

Airport Authority of India (irector

&harat &ijlee 8imited Alternate (irector

&orax 7orarji 8imited Alternate (irector

*astrol India 8imited (irector

=xide Industries 8imited Alternate (irector

?laxo9mith%line harmaceuticals 8imited *hairman

106
http://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#HoshangS.Billimoria%23HoshangS.Billimoriahttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#RajeshwarRajBajaaj%23RajeshwarRajBajaajhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#VijayMerchant%23VijayMerchanthttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#RenuS.Karnad%23RenuS.Karnadhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#MilindBarve%23MilindBarvehttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#HoshangS.Billimoria%23HoshangS.Billimoriahttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#RajeshwarRajBajaaj%23RajeshwarRajBajaajhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#VijayMerchant%23VijayMerchanthttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#RenuS.Karnad%23RenuS.Karnadhttp://www.hdfcfund.com/AboutUs/ContentDisplay.aspx?ReportID=6FB6DAE8-3AEB-42C4-9C99-2455176C5F62#MilindBarve%23MilindBarve


107/141

'()* =+?0 ?eneral Insurance *ompany 8imited *hairman

'()* 9tandard 8ife Insurance *ompany 8imited *hairman

'industan 0il =xploration *orporation 8imited (irector

'industan nilever 8imited (irector

Infrastructure (evelopment )inance *ompany 8imited *hairman

8afarge India vt. 8imited *hairman

7ahindra L 7ahindra 8imited (irector

9atyam *omputer 9ervices 8imited (irector

9iemens 8imited *hairman

The Indian 'otels *ompany 8imited (irector

Wodiac *lothing *ompany 8imited Alternate (irector

7r. arekh is a )ellow of the Institute of *hartered Accountants

=ngland L -ales/.

M!, N, Keit1 S0e%(1

7r. 5. %eith 9keoch is associated with 9tandard 8ife Investments

8imited as its *hief =xecutive and is responsible for all company

business and investment operations within 9tandard 8ife Investments

8imited.

7r. 9keoch joined 9tandard 8ife Investments 8imited as *hief

107


108/141

=xecutive 0fficer from ;ames *apel L *o now '9&* 9ecurities/,

where he was employed from !CB" to !CCC. )rom his first role at

;ames *apel as an International =conomist, he went on to become

the 9enior % =conomist in !CB6 and *hief =conomist two years

later. In !CC:, he was appointed (irector of =conomics and 9trategy

and was given the responsibilities of 7anaging (irector, International

=#uities in !CCB.

'is other (irectorships as on 7arch :!, 6""C are as follows1

108


109/141

ICICI PRU, MUTUL FUND

I*I*I rudential mutual fund is a joint venture between I*I*I &ank, a

premier financial powerhouse, and rudential plc, a leading

international financial services group head#uartered in the nited

%ingdom. I*I*I rudential was amongst the first private sector

insurance companies to begin operations in (ecember 6""" after

receiving approval from Insurance +egulatory (evelopment

Authority I+(A/.

I*I*I rudentials capital base stands at +s. 6".6$ billion with I*I*I

&ank and rudential plc holding >K and 6$K stake respectively.

)or the past five years, I*I*I rudential has retained its position

as the 5o. ! private life insurance in the country, with the wide

range of flexible products that meet the needs of the Indian

customer at every step in life. In the first #uarter of financial year

6""$2" we have cross the new milestone of insuring the lives of

more than 6.@ million police holders. Today our nation2wide team

comprises of over @B" offices, over 6:>""" advisorsF and 66 bank

assurance partners.

109
http://images.google.co.in/imgres?imgurl=http://www.icicipruamc.com/stat/img/headerfooter/header.gif&imgrefurl=http://www.icicipruamc.com/asp/amc/contactus/body.asp%3Fbranch%3DBangalore%2520(Malleshwaram)&usg=__3CPKRqFQAcKWb8pWxLO5ihzo8No=&h=112&w=331&sz=8&hl=en&start=12&um=1&tbnid=aGsRSm4VRFdSYM:&tbnh=40&tbnw=119&prev=/images%3Fq%3Dicici%2Bpru%2Bmutul%2Bfund%26hl%3Den%26rlz%3D1G1GGLQ_ENIN334%26sa%3DG%26um%3D1


110/141

I*I*I rudential is also the only private life insurer in India to receive

a 5ational Insurer )inancial 9trength rating of AAA Ind/ from

)itch ratings. The AAA rating is the highest rating, and is a clear

assurance of I*I*I rudentials ability to meet its obligations to

customers at the time of maturity or claims. This rating is

determined after a thorough evolution of companyMs financial

processes, risk management framework , product mix , market

share, etc. 0ver the past five years

-e have paid over 6!"" claims amounting to more then +s 6$ crore

and taken several step to assure customers of #uick and smooth

claims process .)or the past five years, I*I*I rudential has

retained its position as the 5o. ! private life insurer in the country,

with a wide range of flexible products that meet the needs of the

Indian customer at every step in life. -e have once again

maintained our leadership position with a :6K market share

amongst the private life insurance companies figure as of

3uarter !,finantial year 6""$2"/

110


111/141

7A+%=T 9'A+= 0) I*I*I +(=5TIA8

(I9T+I&TI05

I*I*I rudential has one of the largest distribution networks amongst

private life insurers in India with a network of over 6:>,""" advisors,

and having commenced operations in 6! cities and towns in India,

stretching from &huj in the west to ?uwahati in the east, and ;ammu

in the north to Trivandrum in the south.

The company has 66 bank assurance partners, having tie2ups with

I*I*I &ank, of India, )ederal &ank, 9outh Indian &ank, 8ord %rishna

111


112/141


113/141

B 7r. &hargav (asgupta, =xecutive (irector

7anagement Team

The I*I*I rudent ia l 8 ife Insurance *ompany 8 imi ted

7anagement team comprises reputed people from the

finance industry both from

India and abroad.

7s. 9hikha 9harma, 7anaging (irector L *=0

7r. 5. 9. %annan, =xecutive (irector

7r. &hargav (asgupta, =xecutive (irector

7s. Anita ai, EVP - *ustomer 9ervice L Technology

7r. Azim 7ithani, *hief Actuary

7r. uneet 5anda , *hief Investments 0fficer

113


114/141


115/141

#uality of our parentage and the commitment of our team, there are no limits to

our growth.

Ou! .ue* '

=very member of the I*I*I rudential team is committed to @ core values1

Integrity, *ustomer )irst, &oundary less, 0wnership, and assion. These values

shine forth in all we do, and have become the keystones of our success.

115


116/141

RESEARCH METHODOLOGY

This +esearch involves the collection of primary data through survey

approach because data is to be collected only by meeting worker of

mutual fund *ompany executives. 9urvey helps to know that what is

the strength of company means which worth, publicity and strength.

Approached executive through various means. -e did cold calling,

targeted on 7utual fund. A meeting that talks about the career

opportunity being provided and the benefits that a what is the position

of company in India. Also did surveys, at places like %arvy, TI, &irla,

'()*, +eliance, I*I*I pru with a #uestionnaire taking their

information.

Also since how many years was established your company in

8ucknow city. All this helps in judging who will be a better in @ 75*Ms

companyMs and who fulfills the criteria we looking out for the most. -e

mainly approached that companyMs executiveMs who answered truly.

116


117/141


118/141

)ollowing contact methods through which information was

gathered1

In depth interview

IN8DEPTH INTERVIE+'

After collecting the data I made an appointment with

respondents for their detailed interview to check whether the

candidate have zeal to earn money by making relationship with

customers. Their #ualification and work experience was also

checked.

DATA COLLECTION'

P!im!) Dt' (ata collected through market survey

and cold calling.

Se(%nd!) Dt' (ata collected from magazines,

yellow pages and from other indirect sources.

P!im!) Dt' )or collecting data I directly approached to

persons of different profile with #uestionnaire. I took the relevant

information out of them.

118


119/141

rimary data is the kind of data, which is collected by the investigator

himself for the purpose of the specific study. The data such collected

is original in character. The advantage of this method of collections

authentic.

)or rimary data we did 75*Ms *ompanies surveys where we

approached people through #uestionnaire, used posters L banners

many people came en#uiring L we got #uestionnaires filled on which

calls were made later, we also did cold calling on random numbers

telling people about the career opportunity L those that seemed

interested were called to the office for formal meeting. The method of

sampling was the random convenient sampling method.

7A+%=T 9+H=ective o your investment"

140


141/141

O9>ectives

(a bene$its

/a&ital a&&reiation

Gividend

Di+uidity

,'? Which o the ollo

Documents

CONSUMER BEHAVIOUR ABOUT MUTUAL FUND IN KARVY.doc