A PROJECT REPORT ON

A STUDY OF INVESTORS PERCEPTION TOWARDS

MUTUAL FUND INVESTMENT IN GUWAHATI CITY
FOR

Submitted in partial fulfillment for the award of the degree of Bachelor of

Business Administration (BBA) under University of Science & Technology,
Meghalaya

By
SRI URKHAU BASUMATARY
Bachelor of Business Administration
ROLL NO: 2019/BBA/0001

UNDER THE GUIDANCE OF

ORGANIZTIONAL GUIDE INSTITUTIONAL GUIDE

Mr. Puspak Sarmah Dr. Nilanjan Mazumdar
Branch Manager Assistant Professor,
Guwahati, Fancy Bazar Department of Business Administration

DEPARTMENT OF BUSINESS ADMINISTRATION

UNIVERSITY OF SCIENCE & TECHNOLOGY, MEGHALAYA

2022

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 DECLARATION

I, URKHAU BASUMATARY, a student of BBA 2019-2022 batch of UNIVERSITY OF

SCIENCE & TECHNOLOGY, MEGHALAYA (USTM), approved by AICTE, do hereby
declare the summer internship report “A STUDY OF INVESTORS PERCEPTION
TOWARDS MUTUAL FUND INVESTMENT IN GUWAHATI CITY” is an original
record of work done by me and I have not submitted this project report for any purpose
anywhere else.

Date: URKHAU BASUMATARY

Place: BBA 2019 – 2022
Roll No: 2019/BBA/0001
University of Science &Technology,
Meghalaya

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 ACKNOWLEDGEMENT

A study or report of this volume can never be the outcome of a single person or just more
group of dedicated students. We are indebted to our project mentor Dr. Nilanjan Mazumdar,
Assistant Professor, Department of Business Administration, for being the epitome of
guidance during the entire project. We are also thankful to our HOD of the Department of
Business Administration Dr. Rashmi Baruah and all our faculty members and also my parents
for their guidance and encouragement. Without their help this project would not have seen
the light of day. We are happy to present a vote of thanks to them for their sincere advice and
cooperation that they have lent us unconditionally.

Urkhau Basumatary
BBA 5th Semester
Roll No: 2019/BBA/0001
Department Of Business Administration,
University of Science & Technology, Meghalaya

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4|Page
 UNIVERSITY OF SCIENCE & TECHNOLOGY
MEGHALAYA
(Established under act 6 of 2008 enacted by the state legislative assembly of
Meghalaya & incorporated under section 22 & 2(f) of the UGC Act 156)

TO WHOM IT MAY CONCERN

This is to certify that Urkhau Basumatary is a student of BBA (3year full time) fifth semester
holding University Roll no 2019/BBA/0001 has completed his project entitled as “A STUDY
OF INVESTORS PERCEPTION TOWARDS MUTUAL FUND INVESTMENT IN
GUWAHATI CITY” at India Infoline Finance Limited (IIFL), under my Supervision. This
project report is an original work of the student.

Neither in full nor in any part of the report has been submitted anywhere for the award of any
degree/certificate from any University or Institute.

I wish him all the best.

Dr. Nilanjan Mazumdar

Assistant Professor
Department of Business Administration

Techno City, Kling Road, Baridua, 9th Mile, Ri-Bhoi, Meghalaya-793101

Ph: 9508 444 000, 0361-2895030, 098540-23060, E-mail: [email protected], website: www.ustm.ac.in

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 PREFACE
“Learning is experience. Everything else is just information”, rightly quoted by Albert
Einstein
Knowing that without any practical experience or theory put into action it is just mere
information. This line can be better supported with a quote by an American Businessman and
entrepreneur James Cash Penney who says “Theory is splendid but put into practice, it is
valueless”.

Internship has become an integral part of professional education and plays a vital role in
shaping students’ career and confidence by enabling and encouraging the students to work on
the real life situation in industries and business organization. With the objective to give
students an opportunity to translate theoretical knowledge into practical skill, organizational
functioning and field survey are also a part of learning. Identifying issues in concepts and
techniques to deal constructively with management problems and suggesting alternative are
also encouraged.

The fact and figures presented have been extracted from primary data collected during field
survey. Secondary Information is also referred and collected through websites, books (annual
report, newspaper, magazines etc.) and other records of the concerned organizations.

All suggestions presented have been formulated based on the findings of the report. Every
effort has been made to present the information in a simplified form to make the readers with
easy understanding and better insight to the result obtained.

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 EXECUTIVE SUMMARY

1. PROJECT TITLE: A STUDY OF INVESTORS PERCEPTION TOWARDS

MUTUAL FUND INVESTMENT IN GUWAHATI CITY

2. NAME OF THE COMPANY: India Infoline Finance Limited (IIFL), Fancy Bazar,
Guwahati

3. DURATION OF THE STUDY: One Month (From 15th November to 15th December
2021)

4. ORGANIZATIONAL GUIDE: Mr. Puspak Sarmah, Branch Manager, India

Infoline Finance Limited, Fancy Bazar, Guwahati

5. INSTITUTIONAL GUIDE: Dr. Nilanjan Mazumdar, Assistant Professor,

Department of Business Administration, USTM, Meghalaya

6. OBJECTIVE OF THE STUDY: To assess the awareness level of existing

customers regarding Mutual Funds, To indicate the factors and understand the
investment preferences by the customer while going to invest in Mutual Funds,
To understand the satisfaction level of investment in Mutual Fund.

7. SCOPE OF THE STUDY: The project will provide the better platform to understand
the history, growth, various aspects of mutual funds. It will also help to understand
the behavior of Indian investment towards mutual fund. The study attempts to
understand and throw light on the various factors and preference patterns of the
existing customers of IIFL for investment on mutual funds. It will also help to
understand the importance of Mutual Fund.

8. METHODOLOGY: The study is descriptive and exploration in nature. The study is

based on both primary and secondary data. The respondents have been selected from
the people visiting India Infoline Finance Limited (IIFL) located at Fancy Bazar area

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 of Guwahati through prepared questionnaire. The secondary data were collected
through related literatures from reports of the company, journal, books, websites etc.

9. HIGHLIGHT OF FINDINGS:

 Highest number of investors comes from the professionals.

 Highest number of investors comes from the age group of 20- 30.
 Most of the people have been investing their money in the share market belongs to
Rs.400000 and above income group.
 Mostly investors prefer monitoring their investment on monthly basis.
 Most of the people invest up to 6% of their annual income in mutual funds.
 Most of the people between the age group of 20– 30 invest their money in share
market.
 It is found that 65% investors are invested in Systematic Investment Plan Scheme
whereas 35% investors are invested in Lump Sum scheme of Mutual Funds.
 It is found those investors are attracted to invest in mutual fund because of its better
return, 49%.
 It is found that 30% investors invested for 0-2 year, 22% investors invested for 2-5
years, 15% investors invested for 5-7 years, 20% investors invested for 7-10 years,
and 13% invested for more than 10 years.
 It is found that 25% investor had invested in mutual fund preferred low risk factor,
17% investor preferred liquidity factor, 20% investor preferred high return factor,
23% investor are preferred tax benefits factor and 15% investors are preferred brand
name factor.
 It is found that 38% investor is attracted to invest in mutual Fund because of its
regular income, 22% investor has allure because of its diversification, 27% investor
has allure because of better return, and 13% investors has allure because of its tax
benefits.
 It is found that investor has purchased the Mutual fund from the bank branch, 62%.
22% investor has purchased from the direct AMCs, 5% investor has purchased from
the brokers and the 11% investor has purchased the mutual fund from the other
sources.

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 CONTENT

CHAPTERS DESCRIPTIONS PAGE NO

Self Declaration 2

Acknowledgement 3

Certificate from Organization 4

Certificate from supervisor 5

Preface 6

Executive Summary 7-8

Table of Content 9

CHAPTER 1 INTRODUCTION OF THE TOPIC 10-25

1.1 Introduction Of Mutual Fund
1.2 History of Mutual Fund
1.3 Advantages of Mutual Fund
1.4 Types of Mutual Fund
1.5 Literature review
1.6 Objective of the Study
1.7 Scope of the study
1.8 Research Methodology

CHAPTER 2 ABOUT THE ORGANIZATION 26-34

CHAPTER 3 ANALYSIS & INTERPRETATION 35-49

CHAPTER 4 FINDINGS, SUGGESTIONS &

CONSLUSION 50-53
BIBLIOGRAPHY 54
QUESTIONNAIRE 55-57

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 CHAPTER 1

INTRODUCTION OF MUTUAL FUND

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WHAT IS MUTUAL FUNDS?

Mutual Fund is a pool of money collected from investor and is invested according to certain
investment options. A mutual fund is trust that pools the savings of an investor who share a
common financial goal. A mutual fund is created when investor put their money together. It
is therefore, a pool of investor’s fund. The money thus collected is then invested in capital
market instrument such as shares, debentures and other securities. The income earned through
this investment and the capital appreciation realized is shared by its unit holders in proportion
to the number of unit owned by them. The most important characteristics of a fund are that
contributors and the beneficiaries of the fund are the same class of people namely the
investors. The term mutual fund means the investor contribute to the pool and also benefits
from the pool. Usually the investors appoint professional investment manager create a
product and offer its investment to the investors. This project represents a share in the pool
and pre status investment objective. Thus, a mutual fund is the most suitable investment foe a
common man as it offers an opportunity to invest in a diversified, professionally managed
basket of securities at relatively low cost.

Types of Mutual Fund:

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Types of Mutual Fund:

By Structure:
 Open-Ended Funds: An open-end fund is one that is available for subscription all
through the year. These do not have a fixed maturity. Investors can conveniently buy
and sell units at Net Asset Value ("NAV") related prices. The key feature of open-end
schemes is liquidity.

 Close - Ended Schemes: A closed-end fund has a stipulated maturity period which
generally ranging from 3 to 15 years. The fund is open for subscription only during a
specified period. Investors can invest in the scheme at the time of the initial public
issue and thereafter they can buy or sell the units of the scheme on the stock
exchanges where they are listed. In order to provide an exit route to the investors,
some close-ended funds give an option of selling back the units to the Mutual Fund
through periodic repurchase at NAV related prices. SEBI Regulations stipulate that at
least one of the two exit routes is provided to the investor.

 Interval Schemes: Interval Schemes are that scheme, which combines the features of
open-ended and close-ended schemes. The units may be traded on the stock exchange
or may be open for sale or redemption during pre-determined intervals at NAV related
prices.

BY NATURE
1. Equity Fund:
These funds invest a maximum part of their corpus into equities holdings. The structure
of the fund may vary different for different schemes and the fund manager’s outlook on
different stocks. The Equity Funds are sub-classified depending upon their investment
objective, as follows:
 Diversified Equity Funds
 Mid-Cap Funds
 Sector Specific Funds
 Tax Savings Funds (ELSS) Equity investments are meant for a longer time horizon,
thus Equity funds rank high on the riskreturn matrix.

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2. Debt Funds:
The objective of these Funds is to invest in debt papers. Government authorities, private
companies, banks and financial institutions are some of the major issuers of debt papers.
By investing in debt instruments, these funds ensure low risk and provide stable income
to the investors. Debt funds are further classified as:

 Gilt Funds:
Invest their corpus in securities issued by Government, popularly known as Government
of India debt papers. These Funds carry zero Default risk but are associated with Interest
Rate risk. These schemes are safer as they invest in papers backed by Government.
 Income Funds:
Invest a major portion into various debt instruments such as bonds, corporate debentures
and Government securities.

 MIPs:
Invests maximum of their total corpus in debt instruments while they take minimum
exposure in equities. It gets benefit of both equity and debt market. These scheme ranks
slightly high on the risk-return matrix when compared with other debt schemes.

 Short Term Plans (STPs):

Meant for investment horizon for three to six months. These funds primarily invest in
short term papers like Certificate of Deposits (CDs) and Commercial Papers (CPs). Some
portion of the corpus is also invested in corporate debentures.

 Liquid Funds:
Also known as Money Market Schemes, These funds provides easy liquidity and
preservation of capital. These schemes invest in short-term instruments like Treasury
Bills, inter-bank call money market, CPs and CDs. These funds are meant for short-term
cash management of corporate houses and are meant for an investment horizon of 1day to
3 months. These schemes rank low on risk-return matrix and are considered to be the
safest amongst all categories of mutual funds.

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3. Balanced Funds:
As the name suggest they, are a mix of both equity and debt funds. They invest in both
equities and fixed income securities, which are in line with pre-defined investment
objective of the scheme. These schemes aim to provide investors with the best of both the
worlds. Equity part provides growth and the debt part provides stability in returns.
Further the mutual funds can be broadly classified on the basis of investment parameter
viz; each category of funds is backed by an investment philosophy, which is pre-defined
in the objectives of the fund. The investor can align his own investment needs with the
funds objective and invest accordingly.

BY INVESTMENT OBJECTIVE:
 Growth Schemes: Growth Schemes are also known as equity schemes. The aim of
these schemes is to provide capital appreciation over medium to long term. These
schemes normally invest a major part of their fund in equities and are willing to bear
short-term decline in value for possible future appreciation.

 Income Schemes: Income Schemes are also known as debt schemes. The aim of
these schemes is to provide regular and steady income to investors. These schemes
generally invest in fixed income securities such as bonds and corporate debentures.
Capital appreciation in such schemes may be limited.

 Balanced Schemes: Balanced Schemes aim to provide both growth and income by
periodically distributing a part of the income and capital gains they earn. These
schemes invest in both shares and fixed income securities, in the proportion indicated
in their offer documents (normally 50:50).

 Money Market Schemes: Money Market Schemes aim to provide easy liquidity,
preservation of capital and moderate income. These schemes generally invest in safer,
short-term instruments, such as treasury bills, certificates of deposit, commercial
paper and inter-bank call money.

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  Load Funds: A Load Fund is one that charges a commission for entry or exit. That
is, each time you buy or sell units in the fund, a commission will be payable.
Typically entry and exit loads range from 1% to 2%. It could be worth paying the
load, if the fund has a good performance history.

 No-Load Funds: A No-Load Fund is one that does not charge a commission for
entry or exit. That is, no commission is payable on purchase or sale of units in the
fund. The advantage of a no load fund is that the entire corpus is put to work.

OTHER SCHEMES
 Tax Saving Schemes:
Tax-saving schemes offer tax rebates to the investors under tax laws prescribed from
time to time. Under Sec.88 of the Income Tax Act, contributions made to any Equity
Linked Savings Scheme (ELSS) are eligible for rebate.

 Index Schemes:
Index schemes attempt to replicate the performance of a particular index such as the
BSE Sensex or the NSE 50. The portfolio of these schemes will consist of only those
stocks that constitute the index. The percentage of each stock to the total holding will
be identical to the stocks index weightage. And hence, the returns from such schemes
would be more or less equivalent to those of the Index.

 Sector Specific Schemes:

These are the funds/schemes which invest in the securities of only those sectors or
industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast
Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds
are dependent on the performance of the respective sectors/industries. While these
funds may give higher returns, they are more risky compared to diversified funds.
Investors need to keep a watch on the performance of those sectors/industries and
must exit at an appropriate time.

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Literature Review

A large number of studies have been conducted in India and abroad covering different aspects
of Mutual fund. J.Lilly and Dr Anasuya published a research paper “An empirical study of
performance evaluation of selected ELSS mutual fund schemes” published on International
journal of scientific research (2014) which examined the performance of 49 selected tax
saving ELSS schemes by applying Sharpe ratio, Treynor ratio, Sortino ratio and Jensen’s
alpha measure and found out LIC NOMURA MF GROWTH and dividend schemes has the
highest return and are risk borne when compared to other schemes. Lonnie L. Bryant, Hao-
Chen Liu published a research paper “Mutual fund industry management structure, risk and
the impacts to share holders” published on Global finance journal (2011) investigates the
effects of a multiple fund management structure on the risk volatility of the funds managed
with the help of Sharpe ratio .They found out the impacts that mutual fund management
structure has in fund risk volatility using a sample of 1480 funds managed by 407 managers.
They also found out that the multiple fund management structure appears to be motivated by
the need to achieve economies of scale and reduce cost of the shareholders, fund managers
which are driven by strategic reason.

Shanmugham (2000) conducted a survey of individual investors with the objective to find out
what information source investor depends on. The results explained that they are economical,
sociological and psychological factors which control investment decisions. Madhusudhan V
Jambodekar (1996) conducted his study to size-up the direction of mutual funds in investors
and to identify factors that influence mutual fund investment decision. The study tells that
open-ended scheme is most favored among other things and that income schemes and open-
ended schemes are preferred over closed- ended and growth schemes. News papers are used
as information source, safety of principal amount and investor services are priority points for
investing in mutual funds.

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HISTORY OF MUTUAL FUND:

THE EVALUATION
A strong financial market with broad participation is essential for a developed economy. With
this broad objective India’s first mutual fund was establishment in 1963, namely, Unit Trust
of India (UTI), at the initiative of the Government of India and Reserve Bank of India ‘with a
view to encouraging saving and investment and participation in the income, profits and gains
accruing to the Corporation from the acquisition, holding, management and disposal of
securities’.
In the last few years the MF Industry has grown significantly. The history of Mutual Funds in
India can be broadly divided into five distinct phases as follows:

Phase I (1964-87): Establishment and growth of Unit Trust of India

The Mutual Fund industry in India started in 1963 with formation of UTI in 1963 by an Act
of Parliament and functioned under the Regulatory and administrative control of the Reserve
Bank of India (RBI). In 1978, UTI was de-linked from the RBI and the Industrial
Development Bank of India (IDBI) took over the regulatory and administrative control in
place of RBI. Unit Scheme 1964 (US ’64) was the first scheme launched by UTI. At the end
of 1988, UTI had ₹ 6,700 crores of Assets under Management (AUM).

Phase II (1987-93): Entry of Public sector Funds

The year 1987 marked the entry of public sector mutual funds set up by Public Sector banks
and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India
(GIC). SBI Mutual Fund was the first ‘non-UTI’ mutual fund established in June 1987,
followed by Canbank Mutual Fund (Dec. 1987), Punjab National Bank Mutual Fund (Aug.
1989), Indian Bank Mutual Fund (Nov 1989), Bank of India (Jun 1990), Bank of Baroda
Mutual Fund (Oct. 1992). LIC established its mutual fund in June 1989, while GIC had set up
its mutual fund in December 1990. At the end of 1993, the MF industry had assets under
management of ₹47,004 crores.

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Phase III (1993-2003): Emergence of Private Fund
The Indian securities market gained greater importance with the establishment of SEBI in
April 1992 to protect the interests of the investors in securities market and to promote the
development of, and to regulate, the securities market.
In the year 1993, the first set of SEBI Mutual Fund Regulations came into being for all
mutual funds, except UTI. The erstwhile Kothari Pioneer (now merged with Franklin
Templeton MF) was the first private sector MF registered in July 1993. With the entry of
private sector funds in 1993, a new era began in the Indian MF industry, giving the Indian
investors a wider choice of MF products. The initial SEBI MF Regulations were revised and
replaced in 1996 with a comprehensive set of regulations, viz., SEBI (Mutual Fund)
Regulations, 1996 which is currently applicable.
The number of MFs increased over the years, with many foreign sponsors setting up mutual
funds in India. Also the MF industry witnessed several mergers and acquisitions during this
phase. As at the end of January 2003, there were 33 MFs with total AUM of ₹1,21,805
crores, out of which UTI alone had AUM of ₹44,541 crores.

Phase IV (2003-2014)
In February 2003, following the repeal of the Unit Trust of India Act 1963, UTI was
bifurcated into two separate entities, viz., the Specified Undertaking of the Unit Trust of India
(SUUTI) and UTI Mutual Fund which functions under the SEBI MF Regulations. With the
bifurcation of the erstwhile UTI and several mergers taking place among different private
sector funds, the MF industry entered its fourth phase of consolidation.
Following the global melt-down in the year 2009, securities markets all over the world had
tanked and so was the case in India. Most investors, who had entered the capital market
during the peak, had lost money and their faith in MF products was shaken greatly. The
abolition of Entry Load by SEBI, coupled with the after-effects of the global financial crisis,
deepened the adverse impact on the Indian MF Industry, which struggled to recover and
remodel itself for over two years, in an attempt to maintain its economic viability which is
evident from the sluggish growth in MF Industry AUM between 2010 to 2013.

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Phase V (2014- present)
Taking cognizance of the lack of penetration of MFs, especially in tier II and tier III cities,
and the need for greater alignment of the interest of various stakeholders, SEBI introduced
several progressive measures in September 2012 to "re-energize" the Indian Mutual Fund
industry and increase MFs’ penetration.
In due course, the measures did succeed in reversing the negative trend that had set in after
the global melt-down and improved significantly after the new Government was formed at
the Center.
Since May 2014, the Industry has witnessed steady inflows and increase in the AUM as well
as the number of investor folios (accounts).

 The Industry’s AUM crossed the milestone of ₹10 Trillion (₹10 Lakh Crore) for the
first time as on 31st May 2014 and in a short span of about three years the AUM size
had increased more than two folds and crossed ₹ 20 trillion (₹20 Lakh Crore) for the
first time in August 2017. The AUM size crossed ₹ 30 trillion (₹30 Lakh Crore) for
the first time in November 2020.
 The overall size of the Indian MF Industry has grown from ₹ 6.82 trillion as on 30th
November 2011 to ₹ 37.34 trillion as on 30th November 2021, more than 5 fold
increases in a span of 10 years.
 The MF Industry’s AUM has grown from ₹ 16.50 trillion as on November 30, 2016 to
₹37.34 trillion as on November 30, 2021, more than 2 fold increase in a span of 5
years.
 The no. of investor folios has gone up from 5.20 crore folios as on 30-Nov-2016 to
11.70 crore as on 30-November-2021, more than 2 fold increase in a span of 5 years.
 On an average 10.82 Lakh new folios are added every month in the last 5 years since
November 2016.

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

MF Distributors have been providing the much needed last mile connect with investors,
particularly in smaller towns and this is not limited to just enabling investors to invest in

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appropriate schemes, but also in helping investors stay on course through bouts of market
volatility and thus experience the benefit of investing in mutual funds.

MF distributors have also had a major role in popularizing Systematic Investment Plans (SIP)
over the years. In April 2016, the no. of SIP accounts has crossed 1 crore mark and as on 30th
November 2021 the total no. of SIP Accounts are 4.78 crore.

ADVANTAGES OF MUTUAL FUND

If mutual fund is emerging as the favorite investment vehicle it is because of the many
advantages. They have other forms and avenues of investing parties for the investors who has
limited resources available in terms of capital and ability to carry out detailed reserves and
market monitoring.

These are the major advantages offered by mutual fund to all investors:

 Portfolio Diversification
Each investor in the fund is a part owner of all the fund’s assets, thus enabling him to
hold a diversified investment portfolio even with a small amount of investment that
would otherwise require big capital.

 Affordability & Convenience (Invest Small Amounts)

For many investors, it could be more costly to directly purchase all of the individual
securities held by a single mutual fund. By contrast, the minimum initial investments
for most mutual funds are more affordable.

 Return Potential
Over a medium to long term, Mutual Fund has the potential to provide a higher return
as they invest in a diversified basket of selected securities.

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  Liquidity
You can easily redeem (liquidate) units of open ended mutual fund schemes to meet
your financial needs on any business day (when the stock markets and/or banks are
open), so you have easy access to your money. Upon redemption, the redemption
amount is credited in your bank account within one day to 3-4 days, depending upon
the type of scheme e.g., in respect of Liquid Funds and Overnight Funds, the
redemption amount is paid out the next business day.

 Low Cost
Mutual Funds are relatively less expensive way to invest compared to directly
investing in the capital market because the benefits of scale in brokerage, custodial
and other fess translate into lower cost for the investors.

 Well-Regulated
Mutual Funds are regulated by the capital markets regulator, Securities and Exchange
Board of India (SEBI) under SEBI (Mutual Funds) Regulations, 1996. SEBI has laid
down stringent rules and regulations keeping investor protection, transparency with
appropriate risk mitigation framework and fair valuation principles

TYPES OF RISKS ASSOCIATED WITH MUTUAL FUNDS:

 Risk of losing money

Investments in equity and equity related instruments involve a degree of risk and investors
should not invest in the equity schemes unless they can afford to take the risk of possible loss
of principal.

 Price Risk:
Equity shares and equity related instruments are volatile and prone to price fluctuations on a
daily basis.

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  Interest Rate Risk
Market value of fixed income securities is generally inversely related to interest rate
movement. Generally, when interest rates rise, prices of existing fixed income securities fall
and when interest rates drop, such prices increase. Accordingly, value of a scheme portfolio
may fall if the market interest rate rise and may appreciate when the market interest rate
comes down. The extent of fall or rise in the prices depends upon the coupon and maturity of
the security. It also depends upon the yield level at which the security is being traded.

 Credit Risk
Credit risk means that the issuer of the scheme is unable to pay what was promised as
interest. Usually agencies which handle investments are rated by rating agencies on these
criteria. So, a person will always see that a firm with a high rating will pay less and vice-
versa.

 Liquidity Risk
Liquidity risk refers to the difficulty to redeem an investment without incurring a loss in the
value of the instrument. It can also occur when a seller is unable to find buyer for the
security.

Mutual Funds In India

 IIFL Mutual Fund
 ICICI Prudential Mutual Fund
 Axis Mutual Fund
 Kotak Mahindra Mutual Fund
 IDFC Mutual Fund
 HDFC Mutual Fund
 INVESCO Mutual Fund
 JM Financial Mutual Fund
 SBI Mutual Fund
 Shriram Mutual Fund
 Tata Mutual Fund

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OBJECTIVE OF THE STUDY:
1. To assess the awareness level of existing customers regarding Mutual Funds
2. To indicate the factors and understand the investment preferences by the customer
while going to invest in Mutual Funds
3. To understand the satisfaction level of investment in Mutual Fund

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SCOPE OF THE STUDY
1. The project will provide the better platform to understand the history, growth, various
aspects of mutual funds.
2. It will also help to understand the behavior of Indian investment towards mutual fund.
3. The study attempts to understand and throw light on the various factors and
preference patterns of the existing customers of IIFL for investment on mutual funds.
4. It will also help to understand the importance of Mutual Fund.

RESEARCH METHODOLOGY
The study is descriptive and explorative in nature. The study is based on both primary and
secondary data. The primary data were collected through well structure questionnaires. The
secondary data were collected through related literature from reports of company, books,
journal, websites, etc.

DATA COLLECTION METHOD:

Primary Data: It has been collected directly from the respondent through well structure
questionnaire.

Secondary Data: The secondary data were collected through related literature from reports
of company, books, journal, websites, etc.

Source of data:
The respondents have been selected from the people visiting India Infoline Finance Limited
(IIFL) located at Fancy Bazar area of Guwahati. The researcher has developed a schedule in
time to conduct direct personal interview among the respondents and know about their
opinion regarding how much the company become successful in developing customer
relationship with the customer.

Sample size: The study has been conducted among 40 respondents.

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Method of sampling: The method of sampling used for selecting the sample is purposive
sampling.

Method of Data Analysis: For the data analysis of the data collected data the researcher has
mostly used tabulation, graphical representation such as pie diagram, bar charts, graph, etc.

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 CHAPTER 2

ABOUT THE ORGANISATION

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 COMPANY PROFILE:

India Infoline originally incorporated on October 18, 1995 as Probity Research and Services
Private Limited at Mumbai under the Companies Act, 1956 with Registration No. 11 93797.
We commenced our operations as an independent provider of information, analysis and
research covering Indian businesses, financial markets and economy, to institutional
customers and became a public limited company on April 28, 2000.

The name of the Company was changed to India Infoline.com Limited on May 23, 2000 and
later to India Infoline Limited on March 23, 2001.It is the first company in India to foray into
the online distribution of Mutual Funds.

It is one-stop financial service shop, most respected for quality of its advice, personalized
service and cutting-edge technology. The no-1 corporate for ICICI Prudential Life Insurance
Company. Research acknowledgement by Forbes as “Must Read for Investor in South Asia”.

The India lnfoline was listed on Bombay and National Stock exchange with a net worth of
INR 200/- crore and a market cap of over INR 1970/- crore. The company has a network of
976 business locations (branches and sub-broker) spread across 365 cities and towns. It has
more than 800,000 customers. It is registered with NSDL as well as CDSL as a depository
participant. Providing a one-step solution for client trading in the equities market.

The Company is engaged in the activity of mortgage financing, loan against securities, gold
loans, margin funding and other consumer financing products.

India lnfoline Finance Ltd. is professionally managed and shares the professional values and
ethos of its parent company, llFL and has acquired and maintained a reputation for reliability,
transparency of operations and absolute integrity. A steady growth rate validates the trust that
industry has reposed in the Company.

llFL offers advice and execution platform for the entire range of financial services covering
products ranging from Equities and derivatives, Commodities, Wealth management,

27 | P a g e
Asset management, Insurance, Fixed deposits, Loans, Investment Banking, Gold bonds and
other small savings instruments.
Our research is available not just over the Internet but also on international wire
services like Bloomberg, Thomson First Call and Internet Securities besides others where it
is amongst one of the read Indian brokers.

llFL is a listed company with a consolidated group net worth of about Rs 1,800 crores.
The income and net profit during FY 2010-11were Rs 14.7bn and Rs 2.1bn respectively.

llFL's Crisil and ICRA Rating for short term is top rated as CRISIL Al+ and ICRA (Al+)
respectively. For long term, llFL has been rated ICRA (AA-) by ICRA and CRISIL AA-
/Stable by CRISIL indicating high degree of safety for timely servicing of financial
o b l i ga t i o n s .

The physical presence in key global markets includes subsidiaries in Colombo, Dubai,
New York, Mauritius, London, Singapore and Hong Kong.

28 | P a g e
 VISON, VALUES &STR ATEGY

VISION

 To become the most respected company in the financial services space in India.

VALUES

 Values of llFL are summarized in one acronym GIFTS.

 Growth with focused team of dynamic professionals.
 Integrity in all aspects of business- no compromise in any situation.
 Fairness in all dealings - employees, customer, vendors and shareholders all
included.
 Transparency in what we do- and in how and why we do it.
 Services orientation is our core value, imbibed by all sales as well as support
teams.

29 | P a g e
STRATEGIES
There are three basic strategies of llFL:

BUSINESS STRATEGY

 Steady growth by adapting to the changing environment without losing the focus
on our core domain of financial services.
 De - risked business through multiple products and diversified revenue system.
 Knowledge is the key to power superior financial decisions.
 Keep costs low and continuously strive for innovation.

CUSTOMER STRATEGY

 Remain largely a retail focused organization, driving stickiness through knowledge

and quality service.
 Cater to untapped areas in semi urban and rural areas, which is relatively safe from
cut-throat competition.
 Target the micro, small and medium enterprises mushrooming across the country
through a cluster approach for lending business.
 Use wide multi-modal network serving as one stop shop to customer

PEOPLE STRATEGY

 Attract the best talent and driven people.

 Ensure conducive merit environment.
 Liberal ownership -sharing.

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Brand IIFL

In today ' world, a brand is considered as the most valuable asset of an organization. It serves
as the medium that connects our numerous offerings to customers adding value to their lives.
It is an intangible voice that s speaks volumes about the company.

With a product class that fulfils customer expectations and often exceeds them, we have
created a diverse portfolio, a broad spectrum of offerings with a business model that
shareholders and investors have come to trust.

We are a brand that is not afraid to dream big and see those dreams to fruition. Our single
minded focus in providing investment advice while ensuring the highest standards of ethics
and compliance, transparency while transacting business and staying ahead of the curve in
technological innovations has helped us build credibility and a reputation we are proud of
today .

Lastly at llFL it is our firm belief that a brand is the face of a company's work culture. It is
something that introduces you to our customers and to the world. Our brand is your identity;
it narrates your success story and serves as a sign of how you represent us with a sense of
pride and ownership.

Some Specialties of IIFL:

Financing, Wealth and Assets Management, Financial Advisory & Broking, Distribution,
Institutional Equities, Realty & Property Advisory Services, Investment Banking, Mutual
Funds, Housing Finance.

31 | P a g e
PRODUCTS OF llFL
CASH MARKET
 Equity shares trading platform
 Mutual fund distribution
 Insurance distribution
 Depository services
 Portfolio management services
 Investment banking
 Bonds
 Initial public offer

COMMODITY MARKET

 Commodities trading platform

 Derivatives -metallic and agrarian products
 Loans and mortgages -gold loans, home loans and other loans

OTHERS

 Structured products
 Credit finance and securities
 Research reports
 Asset management
 Wealth management
 Offshore investment
 Capital market advisor

Reasons to choose IIFL

Industry experience:
 40 lac+ customers
 Rs 140898 cr assets under advice

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  19000+ employees
 2500 service location

Tools and Calculators:

 Advanced goal based and SIP calculators
 Advanced performed tracking
 Portfolio tracking and rebalance alert

Digital platform:
 Invest in schemes of leading Mutual fund companies from single website and app
 Track investment anytime, anywhere.
 Paperless and hassle free account opening and transactional process.

DOCUMENTS REQUIRED FOR OPENING DEMAT ACCOUNT

A Demat account is similar to any other bank account, except that is used to hold securities
and other financial instruments. As the procedure to open demats account online is almost the
same across different firms and institutions, the list o mandatory documents required to
register the account is also the same. The different types of documents required for opening a
Demat account are:

1. Proof of Identity (POI) (Eg: Driving License)

2. Proof of Address (POA) (Eg: Passport)
3. Proof of Income (For trading in derivatives F&O) (Eg: Copy of ITR
Acknowledgement)
4. Proof of Bank Account (Eg: Cancelled cheque)
5. PAN Card
6. 1 to 3 passport size photographs
MARKETING PRACTICES
 Mass Marketing
 Social Media Marketing
 Telephonic Marketing
 Micro Marketing

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  Differential Marketing
 Newsletters
 Relationship Marketing

COMPETITORS OF IIFL

 ICICI DIRECT
 KARVY STOCK LTD
 KOTAK SECURITIES HDFC SECURITIES
 RELIGARE SECURITIES
 INDIABULL SECURITIES LTD
 SHAREKHAN
 ANGELONE LTD
 AXIS DIRECT

34 | P a g e
 CHAPTER 3

DATA ANALYSIS AND INTERPRETATION

35
3.1 DATA ANALYSIS AND INTERPRETATION

Table 1: Table for demographic factors (sex)

Sl. No Sex No of respondent Percentage

1 Male 22 55%
2 Female 18 45%

No of Respondent

45%
55%
Male
Female

Figure 1

INTERPRETATION: From the above table and diagram, it is found out of 40 respondents,
22 respondents are male and 18 are female. So, we can say that majority of customer are
male.

36
Table 2: Table of age group investor

Sl. No Age Group No of Respondent Percentage

1 20-30 15 37%

2 30-40 13 33%

2 40 & Above 12 30%

Age Group

30%
37%
20-30
30-40

33% 40 & Above

Figure 2

INTERPRETATION: From the above table and diagram it is found that 37%
respondent are belonging from 20-30 age group, 33% respondent are belonging from 30-
40 age group and 30% respondent are belonging from 40& above. So, we can say that
Majority of respondent belonging to 20 - 30 years age groups.

37
Table 3: Qualification

Sl No Qualification No of Respondent Percentage (%)

1 Graduation 13 32%

2 Post graduation 15 38%

3 Others 12 30%

Qualification

30%
32%
Graduation
Post Graduation
38% Others

Figure 3

INTERPRETATION: From the above table and diagram it is found 32% respondent
have graduation degree, 38% have post graduation degree and 30% respondent have others
degree. So we can say that, among the respondents, people having post-graduation are more
aware about mutual fund.

38
Table 4: Occupation

Sl Occupation No of Respondent Percentage

No (%)
1 Students 9 22%
2 Professional 11 27%
3 Service 7 17%
4 Business 5 13%
5 Retired 3 8%
6 Others 5 13%

Occupation

13%
8% 22% Students
Professional
13%
Service
27% Business
17%
Retired
Others

Figure: 4

INTERPRETATION: From the above table and diagram, it is found that 22% are
students, 27% are professionals, and 17% are involves in service, 13% are businessmen, 8%
are retired and 13% are involved in other works. So, we can say that, people who are
professionals are showing more interest to involve in mutual funds.

39
Table 5: Annual Income

Sl No Annual Income No of Respondent Percentage (%)

1 <100000 15 43%
2 100000-200000 9 26%
3 200000-300000 7 20%
4 >300000 4 11%

Annual Income

11%

20% 43%
<100000
100000-200000
200000-300000
>300000
26%

Figure 5

INTERPRETATION: From the above table and diagram, it is found that 43%
respondent have an annual income of less than 100000, 26% respondent have annual income
between 100000-200000, 20% respondent have annual income between 200000-300000, and
11% respondent have an annual income of more than 300000. So, we can say that people
having <100000 annual incomes are more interested to invest in mutual fund.

40
Table 6: Type of Investment

Sl No Investment Type No of Respondents Percentage (%)

1 Saving Account 8 20%
2 Fixed Deposit 13 32%
3 Insurance 5 12%
4 Mutual Fund 9 23%
5 Post Office- NSC 3 8%
6 Gold 2 5%

Investment Type

5%
8% 20%
Saving Account
23% Fixed Deposit
Insurance
32%
Mutual Fund
12%
Post Office- NSC
Gold

Figure 6

INTERPRETATION: From the above table and diagram, it is found that 20% investors
invest in saving account, 32% investor invest in fixed deposit, 12% investors invest money in
insurance, 23% investors invest in mutual fund, 8% investors invest money in Post office-
NSC, and 5% investors invest money in gold. So we can say that majority of the respondent
invest in Fixed Deposit.

41
Figure 7: Source of investment advice

Sl No Source of Investment Advice No of respondent Percentage (%)

1 Television 6 15%
2 Internet 9 22%
3 Newspaper / Journals 3 7%
4 Friends / Relatives 14 35%
5 Sales Representatives 5 13%
6 Others 3 8%

Source of Investment Advice

8% 15%
13% Television
Internet
22%
Newspaper/ Journals
35% Friends/ relatives
7% Sales Representative
Others

``

Figure 7

INTERPRETATION: From the above table and diagram, it is found that investors’
collects information or source of investment advice is 15% from television, 22% from
Internet, 7% from Newspaper/ Journals, 35% from friends/ relatives, 13% from investor
forum, and 8% collects information from other sources. So, from analysis it is clear that
majority of the people have gather information or investment advice from friends or relatives.

42
Table 8: Awareness of Investment in Mutual Fund

Sl No Awareness of Investment in No of Respondent Percentage (%)

Mutual Fund

1 Yes 34 85%
2 No 6 15%

Awareness of Investment in Mutual Fund

15%

Yes
85% No

Figure 8

INTERETATION: From the above table and diagram, it is found that 85% were about
the investment in Mutual Fund and 15% does not know anything about Mutual Fund.

43
Table 9: Used scheme in Mutual Fund

Sl No Used scheme of Mutual Fund No of respondent Percentage (%)

1 Closed-ended 13 32%
2 Opened-ended 27 68%

Used scheme in Mutual Fund

32%

Close-ended 13

68% Open-ended

Figure 9

INTERPRETATION: From the above table and diagram, it is found that 80% investors
invested in open-ended scheme where 20% investors invested in close-ended scheme of
mutual fund. So, we can say that majority of the respondents used open-ended scheme.

44
Table 10: Mode of Investment in Mutual Fund

Sl No Mode of Investment in Mutual No of Respondent Percentage (%)

Fund

1 Lump Sum 14 35%

2 SIP 26 65%

Mode of Investment in Mutual Fund

35%

Lump Sum
65% SIP

Figure 10

INTERPRETATION: From the above table and diagram, it is found that 65% investors are
invested in Systematic Investment Plan Scheme whereas 35% investors are invested in Lump
Sum scheme of Mutual Fund. So, we can say that majority of the respondents used
Systematic Investment Plan (SIP).

45
Table 11: Investment periods in Mutual Fund

Sl No Periods (in years) No of Respondents Percentage (%)

1 0-2 12 30%
2 2-5 9 22%
3 5-7 6 15%
4 7-10 8 20%
5 10-Above 5 13%

Investment periods in Mutual Fund

13%
30%
0-2 yrs
20%
2 - 5 yrs
5 - 7 yrs
15% 22% 7 - 10 yrs
10 yrs - above

Figure 11

INTERPRETATION: From the above table and diagram it is found that 30% investors
invested for 0-2 year, 22% investors invested for 2-5 years, 15% investors invested for 5-7
years, 20% investors invested for 7-10 years, and 13% invested for more than 10 years.

46
Table 12: Factors prefer while investor invest

Sl No Factors preferred by investor No of respondent Percentage (%)

1 Liquidity 7 17%
2 Low Risk 10 25%
3 High Return 8 20%
4 Tax Benefit 9 23%
5 Brand Name 6 15%

Factors Preferred

15% 17%
Liquidity
23% Low Risk
25%
High Return
20% Tax Benefit
Brand Name

Figure 12

INTERPRETATION: Analysis from the above table and diagram, it is found that 25%
investor had invested in mutual fund preferred low risk factor, 17% investor preferred
liquidity factor, 20% investor preferred high return factor, 23% investor are preferred tax
benefits factor and 15% investors are preferred brand name factor.

47
Table 13: Feature of Mutual Fund allure the investor

Sl No Allure feature No of respondent Percentage (%)

1 Diversification 9 22%
2 Better Return 11 27%
3 Regular Income 15 38%
4 Tax Benefit 5 13%

Allure feature of Mutual Fund

13%
22%

Diversification
Better Return
38%
27% Regular Income
Tax Benefit

Figure 13

INTERPRETATION: From the above table and diagram it is found that 38% investor is
attracted to invest in mutual Fund because of its regular income, 22% investor are allure
because of its diversification, 27% investor are allure because of better return, and 13%
investors are allure because of its tax benefits. So, we can say that majority of the respondents
attract because of its regular income.

48
Table 14: Source of purchased Mutual Fund

Sl No Source of purchase No of respondent Percentage (%)

1 Direct from AMCs 7 17%

2 Brokers only 19 48%

3 Other source 8 20%

4 Bank Branch 6 15%

Source of purchased Mutual Fund

15% 17%
Direct from AMCs
20%
Brokers only
Other source
48%
Bank Branch

Figure 14

INTERPRETATION: From the above table and diagram, it is found that 48% investors
purchased the mutual fund through brokers, 17% investors purchased directly from AMCs,
20% investors purchased from other sources and 15% investors purchased from the bank
branch. So, we can say that most of the investor purchased mutual fund through brokers.

49
 CHAPTER 4

FINDINGS, SUGGESTIONS &

CONCLUSION

50
FINDINGS
 Highest number of investors comes from the professionals.
 Highest number of investors comes from the age group of 20- 30.
 Most of the people have been investing their money in the share market belongs to
Rs.400000 and above income group.
 Mostly investors prefer monitoring their investment on monthly basis.
 Most of the people invest up to 6% of their annual income in mutual funds.
 Most of the people between the age group of 20– 30 invest their money in share
market.
 It is found that 65% investors are invested in Systematic Investment Plan Scheme
whereas 35% investors are invested in Lump Sum scheme of Mutual Fund
 It is found those investors are attracted to invest in mutual fund because of its better
return, 49%.
 It is found that 30% investors invested for 0-2 year, 22% investors invested for 2-5
years, 15% investors invested for 5-7 years, 20% investors invested for 7-10 years,
and 13% invested for more than 10 years.
 It is found that 25% investor had invested in mutual fund preferred low risk factor,
17% investor preferred liquidity factor, 20% investor preferred high return factor,
23% investor are preferred tax benefits factor and 15% investors are preferred brand
name factor.
 It is found that 38% investor is attracted to invest in mutual Fund because of its
regular income, 22% investor has allure because of its diversification, 27% investor
has allure because of better return, and 13% investors has allure because of its tax
benefits.
 It is found that investor has purchased the Mutual fund from the bank branch, 62%.
22% investor has purchased from the direct AMCs, 5% investor has purchased from
the brokers and the 11% investor has purchased the mutual fund from the other
sources.

51
SUGGESTIONS

Some suggestions for the promotion of mutual funds in Guwahati City are given
as follows:

 The trend is changing now, people are getting more aware and the
knowledge regarding the mutual fund investment is also increasing
among the people day by day.
 Govt. of Assam should do some awareness programs with the mutual
fund companies in order to make the people more knowledgably and
aware.
 The mutual funds which are already running in the Guwahati City must
upgrade, enhance their programs, their transparency and must educate the
people of the city to some extent.
 There is a great field and opportunities for this industry in Guwahati City,
so it should be flourished and run in a better way in the city.
 Media or other source of advertisement can also play their role in the
publicity of these investment alternatives.

52
CONCLUSIONS

After the successfully completion of my summer internship I understood that market research
is an important aspect for a company throughout the life cycle of a particular product. It helps
in knowing the changing taste, preference, life style etc. of the consumer.

A mutual fund is the ideal investment vehicle for today’s complex and modern financial
scenario. Markets for equity shares, bonds and other fixes income instruments, real estate,
derivatives and other assets have become mature and information driven. Today each and
every person is fully aware of every kind of investment proposal. It has a powerful
investment option that has the potential to generate long-term wealth for investors. Mutual
funds have schemes for all types of life goals, right from creating a pool of wealth to
retirement.

Everybody wants to invest money, which entitled of low risk, high returns and easy
redemption. In my opinion before investing in mutual funds, one should be fully aware of
each and everything.

Mutual Funds now represent perhaps most appropriate investment opportunity for most
investors. As financial markets become more sophisticated and complex, investors need a
financial intermediary who provides the required knowledge and professional expertise on
successful investing. As the investor always try to maximize the returns and minimize the
risk.

Mutual fund satisfies the requirements by providing attractive returns with affordable risks.
The fund industry has already overtaken the banking industry, more funds being under
mutual fund management than deposited with banks. With the emergence of tough
competition in this sector mutual funds are launching a variety of schemes which caters to the
requirement of the particular class of investors. Risk takers for getting capital appreciation
should invest in growth, equity schemes. Investors who are in need of regular income should
invest in income plans. The stock market has been rising for over three years now. This in
turn has not only protected the money invested in funds but has also to help grow these
investments. This has also instilled greater confidence among fund investors who are
investing more into the market through the MF route than ever before. The investors may
seek advice from experts and consultants including agents and distributors of mutual funds
schemes while making investment decisions.

53
BIBLIOGRAPHY
Arathy, B., Nair, A. A., Anju Sai, P., & Pravitha, N. R. (2015). A Study on factors affecting
investment on mutual funds and its preference of retail investors. International Journal of
Scientific and Research Publications, 5(8), 1-4.

Arora, S., Singh, H. B., & Jain, R. (2009). Exploring Customer Preference for Mutual
Funds. Review of Professional Management, 7(1), 59-64.

Bryant, L. L., & Liu, H. C. (2011). Mutual fund industry management structure, risk and the
impacts to shareholders. Global finance journal, 22(2), 101-115.

Jambodekar, M. V. (1996). Marketing strategies of mutual funds-Current practices and future

directions.

Lilly, J., & Anusuya, D. (2014). An Empirical Study of Performance Evaluation of Selected
Elss Mutual Fund Schemes.

Shanmugham, R., & Ramya, K. (2012). Impact of social factors on individual investors’
trading behaviour. Procedia Economics and Finance, 2, 237-246

WEBSITES

 www.indiainfoline.com
 www.amfindia.com
 www.mutualfundsindia.com
 www.monecontrol.com
 www.sbimf.com
 www.sebi.com
 www.economictimes.com

MAGAZINES AND NEWSPAPER

 Front line
 Stock market book
 Dallals street Journal’s
 The Times Of India
 Company Brochures and Presentations
.

54
QUESTIONAIRE

Investors’ perception towards Mutual Fund Investment in Guwahati City for IIFL

Dear Sir/ Madam,

I, Urkhau Basumatary, student of USTM, would like your kind attention for few
minutes to answer this questionnaire. This is a part of a survey on “Investors perception
towards Mutual Fund Investment in Guwahati City for IIFL” as partial fulfillment of BBA
course. Therefore, I kindly request you to fill the following questionnaire. The information
provided will be used for academic purpose and will be kept confidential.

1. What's your good name?

2. Gender
Male

Female

3. What is your age?

20-30

30-40

40 and above
4. What is your highest qualification?
Graduation
Post graduation
Others
5. What's your Profession?
Students
Professional
Service
Business
Retired
Others (Specify ……………………………..)

55
6. What is your annual income (in Rs)?
<100000

100000-200000

200000-300000

>300000

7. Which among the following type of Investment do you prefer?

Saving Account

Fixed Deposit

Insurance

Mutual Fund

Post Office- NSC

Gold

8. Which are the primary sources of your knowledge about Mutual Funds as an
investment option?
Television

Internet

Newspaper / Journals

Friends / Relatives

Sales Representatives

Others (Specify……………………………..)

9. In this highly volatile market, do you think Mutual Funds are a destination for
Investments?
Yes
No

10. Which end-scheme do you feel is good?

Closed Ended

Open Ended
56
11. When you invest in mutual fund Which Mode of Investment in Mutual Fund do you
prefer?
Lump Sum

SIP (Systematic Investment Plan)

12. Investment periods in Mutual Fund (in Years)

0-2

2-5

5-7

7-10

10-Above

13. While investing in mutual fund, which factor do you prefer most?
Liquidity

Low Risk

High Return

Tax Benefit

Brand Name

14. Which feature of mutual fund allure you most?

Diversification

Better Return

Regular Income

Tax Benefit

15. From which source do you purchase mutual fund?

Direct from AMCs

Brokers only

Other source

Bank Branch

57