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Summer Training Project Prepared By: Deepak Bansal “ Comparative Study of Various Schemes of HDFC Mutual Fund through Shar...
INTRODUCTION <ul><li>What is a Mutual Fund???? </li></ul>
History of INDIAN Mutual Fund Industry <ul><li>www.amfiindia.com </li></ul>Phases of  INDIAN MUTUAL FUND First Phase (1964...
Categories of Mutual Fund Categories Based on Structure Based on Investment Open-Ended Close-Ended Equity Fund Debt Fund B...
INVESTMENT Strategies <ul><li>Systematic Investment Plan </li></ul><ul><li>Systematic Transfer Plan </li></ul><ul><li>Syst...
About HDFC <ul><li>HDFC was incorporated in 1977 with an objective “To promote home ownership” without any government assi...
HDFC and Associate Companies HDFC Mutual Fund HDFC STANDARD Life  Insurance HDFC Securities HDFC ERGO General  Insurance H...
About HDFC Mutual Fund <ul><li>HDFC Mutual Fund is one of the largest mutual funds incorporated on December 10, 1999. </li...
Sponsors of HDFC Mutual Fund <ul><li>Housing Development Finance Corporation Limited with 60% paid up equity capital </li>...
VISION Statement of HDFC Mutual Fund <ul><li>“ To be a dominant player in the Indian Mutual Fund space recognized for its ...
SWOT Analysis of HDFC Mutual Fund
STRENGTH <ul><li>Brand Name </li></ul><ul><li>Large Product Portfolio </li></ul><ul><li>Good Return Generating Products </...
WEAKNESS <ul><li>High Employee Turnover Rate </li></ul>
OPPORTUNITY <ul><li>Awareness about Mutual Fund amongst Investor </li></ul><ul><li>Penetration to Rural Market </li></ul><...
THREAT <ul><li>More Competition </li></ul>
Organization Chart Branch and Cluster Head Relationship Manager Client Services Head Sales Manager Executive Client Repres...
Title of the Project <ul><li>“ Comparative Study of Various schemes of HDFC Mutual Fund through Sharpe Ratios and Treynor ...
Objectives of Research <ul><li>Significance of Indices like Sharpe Ratio and Treynor Index for various type of schemes i.e...
<ul><li>Research Design </li></ul><ul><ul><ul><li>Descriptive Design </li></ul></ul></ul><ul><li>Data Collection </li></ul...
Contd…. <ul><li>Universe </li></ul><ul><ul><li>All funds of HDFC Mutual Fund </li></ul></ul><ul><li>Population </li></ul><...
Introduction to Project
Sharpe Ratios <ul><li>A ratio developed by Nobel laureate  William F. Sharpe  to measure risk-adjusted performance.  The S...
Comparative Analysis through  Sharpe Ratios
HDFC Top 200 Fund
HDFC Equity Fund
HDFC Capital Builder Fund
HDFC Core & Satelite Fund
HDFC Premier Multi-Cap Fund
HDFC Prudence Fund
HDFC Tax Saver Fund
HDFC MIP-LTP Fund
HDFC MIP-STP Fund
HDFC High Interest Fund
HDFC High Interest-STP Fund
HDFC Cash Management-Retail Fund
HDFC Cash Management-Wholesale Fund
Treynor Index <ul><li>Treynor Index is a measure used to calculate the portfolio's excess return per unit of risk .  This ...
Comparative Analysis through  Treynor Index
HDFC Top 200 Fund
HDFC Equity Fund
HDFC Capital Builder Fund
HDFC Core & Satelite Fund
HDFC Premier Multi-Cap Fund
HDFC Prudence Fund
HDFC Tax Saver Fund
HDFC MIP-LTP Fund
HDFC MIP-STP Fund
HDFC High Interest Fund
HDFC High Interest-STP Fund
HDFC Cash Management-Retail Fund
HDFC Cash Management-Wholesale Fund
Facts and Findings <ul><li>Schemes with more volatility ratio i.e. high standard deviation are the true top performers in ...
Contd… <ul><li>Debt funds are having no correlation with the market i.e. SENSEX </li></ul><ul><li>Annualized return for Ba...
Conclusion <ul><li>Returns are only reward of risk and funds performing well in the markets are those who has more variati...
 
 
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  1. 1. Summer Training Project Prepared By: Deepak Bansal “ Comparative Study of Various Schemes of HDFC Mutual Fund through Sharpe Ratios and Treynor Index”
  2. 2. INTRODUCTION <ul><li>What is a Mutual Fund???? </li></ul>
  3. 3. History of INDIAN Mutual Fund Industry <ul><li>www.amfiindia.com </li></ul>Phases of INDIAN MUTUAL FUND First Phase (1964-87) Second Phase (1987-93) Third Phase 1993-2003 Fourth Phase (Since 2003)
  4. 4. Categories of Mutual Fund Categories Based on Structure Based on Investment Open-Ended Close-Ended Equity Fund Debt Fund Balanced (Hybrid) Fund
  5. 5. INVESTMENT Strategies <ul><li>Systematic Investment Plan </li></ul><ul><li>Systematic Transfer Plan </li></ul><ul><li>Systematic Withdrawal Plan </li></ul>
  6. 6. About HDFC <ul><li>HDFC was incorporated in 1977 with an objective “To promote home ownership” without any government assistance. </li></ul><ul><li>HDFC is currently operational in India with Five different sectors. </li></ul>www.hdfc.com
  7. 7. HDFC and Associate Companies HDFC Mutual Fund HDFC STANDARD Life Insurance HDFC Securities HDFC ERGO General Insurance HDFC Bank HDFC
  8. 8. About HDFC Mutual Fund <ul><li>HDFC Mutual Fund is one of the largest mutual funds incorporated on December 10, 1999. </li></ul><ul><li>Presently, HDFC Mutual Fund is managing: </li></ul><ul><ul><li>28 Open-Ended Schemes </li></ul></ul><ul><ul><li>8 Close-Ended Schemes </li></ul></ul>www.hdfcfund.com
  9. 9. Sponsors of HDFC Mutual Fund <ul><li>Housing Development Finance Corporation Limited with 60% paid up equity capital </li></ul><ul><li>Standard Life Investments Limited with 40% equity paid up capital </li></ul><ul><ul><ul><ul><ul><li> </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>www.hdfcfund.com </li></ul></ul></ul></ul></ul>
  10. 10. VISION Statement of HDFC Mutual Fund <ul><li>“ To be a dominant player in the Indian Mutual Fund space recognized for its high levels of ethical and professional conduct and a commitment towards enhancing investor interests.” </li></ul>www.hdfcfund.com
  11. 11. SWOT Analysis of HDFC Mutual Fund
  12. 12. STRENGTH <ul><li>Brand Name </li></ul><ul><li>Large Product Portfolio </li></ul><ul><li>Good Return Generating Products </li></ul><ul><li>More Assets </li></ul>
  13. 13. WEAKNESS <ul><li>High Employee Turnover Rate </li></ul>
  14. 14. OPPORTUNITY <ul><li>Awareness about Mutual Fund amongst Investor </li></ul><ul><li>Penetration to Rural Market </li></ul><ul><li>Huge Scope for Expansion </li></ul>
  15. 15. THREAT <ul><li>More Competition </li></ul>
  16. 16. Organization Chart Branch and Cluster Head Relationship Manager Client Services Head Sales Manager Executive Client Representative 1 Client Representative 2 Area Executive 1 Area Executive 2
  17. 17. Title of the Project <ul><li>“ Comparative Study of Various schemes of HDFC Mutual Fund through Sharpe Ratios and Treynor Index” </li></ul>
  18. 18. Objectives of Research <ul><li>Significance of Indices like Sharpe Ratio and Treynor Index for various type of schemes i.e. Equity, Liquid & Hybrid </li></ul><ul><li>Study of Effect of time on the quantitative analysis of Sharpe Ratio and Treynor Index </li></ul>
  19. 19. <ul><li>Research Design </li></ul><ul><ul><ul><li>Descriptive Design </li></ul></ul></ul><ul><li>Data Collection </li></ul><ul><ul><ul><li>Primary Data- Interview </li></ul></ul></ul><ul><ul><ul><li>Secondary Data- Company Website </li></ul></ul></ul><ul><ul><ul><ul><ul><li> - Annual Reports </li></ul></ul></ul></ul></ul><ul><li>Sampling Technique </li></ul><ul><ul><ul><li>Convenience </li></ul></ul></ul>Research Methodology
  20. 20. Contd…. <ul><li>Universe </li></ul><ul><ul><li>All funds of HDFC Mutual Fund </li></ul></ul><ul><li>Population </li></ul><ul><ul><li>All growth funds of HDFC Mutual Fund </li></ul></ul><ul><li>Sample Unit </li></ul><ul><ul><li>One Single growth fund of HDFC Mutual Fund </li></ul></ul><ul><li>Sample Size </li></ul><ul><ul><li>13 Growth funds of HDFC Mutual Fund </li></ul></ul>
  21. 21. Introduction to Project
  22. 22. Sharpe Ratios <ul><li>A ratio developed by Nobel laureate  William F. Sharpe to measure risk-adjusted performance. The Sharpe ratio or Sharpe index or Sharpe measure or reward-to-variability ratio is a measure of the excess return (or Risk Premium) per unit of risk in an investment asset </li></ul>
  23. 23. Comparative Analysis through Sharpe Ratios
  24. 24. HDFC Top 200 Fund
  25. 25. HDFC Equity Fund
  26. 26. HDFC Capital Builder Fund
  27. 27. HDFC Core & Satelite Fund
  28. 28. HDFC Premier Multi-Cap Fund
  29. 29. HDFC Prudence Fund
  30. 30. HDFC Tax Saver Fund
  31. 31. HDFC MIP-LTP Fund
  32. 32. HDFC MIP-STP Fund
  33. 33. HDFC High Interest Fund
  34. 34. HDFC High Interest-STP Fund
  35. 35. HDFC Cash Management-Retail Fund
  36. 36. HDFC Cash Management-Wholesale Fund
  37. 37. Treynor Index <ul><li>Treynor Index is a measure used to calculate the portfolio's excess return per unit of risk . This is a similar ratio to the Sharpe ratio, except that the portfolio's beta is considered the measure of risk as opposed to the variance of portfolio returns. </li></ul>
  38. 38. Comparative Analysis through Treynor Index
  39. 39. HDFC Top 200 Fund
  40. 40. HDFC Equity Fund
  41. 41. HDFC Capital Builder Fund
  42. 42. HDFC Core & Satelite Fund
  43. 43. HDFC Premier Multi-Cap Fund
  44. 44. HDFC Prudence Fund
  45. 45. HDFC Tax Saver Fund
  46. 46. HDFC MIP-LTP Fund
  47. 47. HDFC MIP-STP Fund
  48. 48. HDFC High Interest Fund
  49. 49. HDFC High Interest-STP Fund
  50. 50. HDFC Cash Management-Retail Fund
  51. 51. HDFC Cash Management-Wholesale Fund
  52. 52. Facts and Findings <ul><li>Schemes with more volatility ratio i.e. high standard deviation are the true top performers in the market </li></ul><ul><li>Equity diversified funds are more volatile as compared to Debt funds and Hybrid Funds </li></ul><ul><li>Volatility and Returns have a direct relationship </li></ul><ul><li>Returns in case of equity fund is very high for long term period </li></ul>
  53. 53. Contd… <ul><li>Debt funds are having no correlation with the market i.e. SENSEX </li></ul><ul><li>Annualized return for Balanced Fund is the highest for HDFC Prudence Fund amongst all Balanced fund of all mutual fund Companies (www.amfiindia.com) </li></ul>
  54. 54. Conclusion <ul><li>Returns are only reward of risk and funds performing well in the markets are those who has more variations in their returns. </li></ul><ul><li>With the time period returns as well as their effect on Sharpe Ratio and Treynor Index is changing because portfolio of a scheme differs from fund to fund. </li></ul>
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