The document discusses the history and regulation of mutual funds in India. It states that the SEBI regulations governing mutual funds were updated and expanded in 1996. It also notes that as of January 2003, there were 33 mutual funds in India with total assets of Rs. 1,21,805 crores, with UTI being the largest. The document also provides brief definitions of mutual funds and highlights some of their key benefits like diversification, professional management, and low costs.
The document provides an overview of a study analyzing the performance of mutual funds in India. It begins with an introduction and background on mutual funds. It then outlines the objectives, research methodology, and literature review. The data analysis section applies the Treynor, Sharpe, and Jensen models to evaluate 10 mutual funds over one year. The results found that most funds beat the market and that the ICICI Prudential Technology Fund ranked highest across models. The conclusion discusses how mutual funds are suitable for different investors and the importance of performance evaluation ratios for decision making.
The document analyzes the performance of 23 equity-based mutual fund schemes in India between 1996-2009 using various risk-return models. It finds that Franklin Templeton and UTI performed best while Birla SunLife, HDFC, and LIC mutual funds showed below-average performance based on measures like Sharpe ratio, beta, Treynor ratio, and Jensen's alpha. The analysis uses daily net asset values to calculate returns and the NSE Nifty as the market benchmark to measure risk factors like standard deviation, beta, and R-squared.
The document analyzes the performance of public and private sector mutual funds in India from 2009 to 2011. It evaluates the funds using various risk-adjusted return measures like the Sharpe ratio, Treynor ratio, and Jensen's alpha. The key findings are:
1) The SBI mutual fund had the highest average return of 10.40% for equity funds and 7.98% for balanced funds over the period.
2) The UTI mutual fund generated the highest Sharpe ratio of 6.57% for equity funds and 11.17% for balanced funds.
3) Most funds were able to provide excess returns over the expected market return based on their systematic risk, according to the Tre
Financial Freedom through Reverse MortgageProjects Kart
The world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. Visit www.projectskart.com for more information. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.
The Risk and return analysis is important to equity shares investors in the share
market. The need of equity shares at the time of preliminary stage of company or
bank to raising fund for establish company and starting a business. The equity share
holder is an actual owner of company or bank.
48407540 project-report-on-portfolio-management-mgt-727 (1)Ritesh Kumar Patro
This document provides an overview of portfolio management. It discusses key concepts like portfolio construction, types of assets, and the portfolio management process. The main points are:
1) Portfolio construction involves setting objectives, defining a policy, applying a strategy, selecting assets, and assessing performance. The main asset classes are cash, bonds, equities, derivatives, and property.
2) Portfolio management deals with security analysis, portfolio analysis, selection, revision, and evaluation. The goal is to maximize returns for a given level of risk through diversification.
3) Derivatives like futures and options derive their value from underlying assets and allow investors to take long or short positions to profit from price movements.
The document discusses credit ratings methodologies used by CRISIL and ICRA, two major credit rating agencies in India. It outlines the business and financial risk profile analyses conducted, including factors like country risk, industry trends, financial ratios and cash flows. It also provides details on the types of debt obligations rated, functions, and long and short term rating scales of CRISIL and ICRA.
The document provides statistics on the first year premium and new business performance of major life insurers in India for the period up to May 2009. Key highlights include:
- Bajaj Allianz Life reported the highest individual non-single premium of Rs. 147.18 crores for May 2009.
- SBI Life led in terms of number of individual policies issued, with over 53,000 new policies in May 2009.
- ICICI Prudential Life insured the largest number of lives under group schemes at over 715,000 in May 2009.
- Overall, life insurers saw growth in new business volumes compared to the same period last year, indicating expansion of the life insurance sector
The document provides an overview of a study analyzing the performance of mutual funds in India. It begins with an introduction and background on mutual funds. It then outlines the objectives, research methodology, and literature review. The data analysis section applies the Treynor, Sharpe, and Jensen models to evaluate 10 mutual funds over one year. The results found that most funds beat the market and that the ICICI Prudential Technology Fund ranked highest across models. The conclusion discusses how mutual funds are suitable for different investors and the importance of performance evaluation ratios for decision making.
The document analyzes the performance of 23 equity-based mutual fund schemes in India between 1996-2009 using various risk-return models. It finds that Franklin Templeton and UTI performed best while Birla SunLife, HDFC, and LIC mutual funds showed below-average performance based on measures like Sharpe ratio, beta, Treynor ratio, and Jensen's alpha. The analysis uses daily net asset values to calculate returns and the NSE Nifty as the market benchmark to measure risk factors like standard deviation, beta, and R-squared.
The document analyzes the performance of public and private sector mutual funds in India from 2009 to 2011. It evaluates the funds using various risk-adjusted return measures like the Sharpe ratio, Treynor ratio, and Jensen's alpha. The key findings are:
1) The SBI mutual fund had the highest average return of 10.40% for equity funds and 7.98% for balanced funds over the period.
2) The UTI mutual fund generated the highest Sharpe ratio of 6.57% for equity funds and 11.17% for balanced funds.
3) Most funds were able to provide excess returns over the expected market return based on their systematic risk, according to the Tre
Financial Freedom through Reverse MortgageProjects Kart
The world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. Visit www.projectskart.com for more information. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.
The Risk and return analysis is important to equity shares investors in the share
market. The need of equity shares at the time of preliminary stage of company or
bank to raising fund for establish company and starting a business. The equity share
holder is an actual owner of company or bank.
48407540 project-report-on-portfolio-management-mgt-727 (1)Ritesh Kumar Patro
This document provides an overview of portfolio management. It discusses key concepts like portfolio construction, types of assets, and the portfolio management process. The main points are:
1) Portfolio construction involves setting objectives, defining a policy, applying a strategy, selecting assets, and assessing performance. The main asset classes are cash, bonds, equities, derivatives, and property.
2) Portfolio management deals with security analysis, portfolio analysis, selection, revision, and evaluation. The goal is to maximize returns for a given level of risk through diversification.
3) Derivatives like futures and options derive their value from underlying assets and allow investors to take long or short positions to profit from price movements.
The document discusses credit ratings methodologies used by CRISIL and ICRA, two major credit rating agencies in India. It outlines the business and financial risk profile analyses conducted, including factors like country risk, industry trends, financial ratios and cash flows. It also provides details on the types of debt obligations rated, functions, and long and short term rating scales of CRISIL and ICRA.
The document provides statistics on the first year premium and new business performance of major life insurers in India for the period up to May 2009. Key highlights include:
- Bajaj Allianz Life reported the highest individual non-single premium of Rs. 147.18 crores for May 2009.
- SBI Life led in terms of number of individual policies issued, with over 53,000 new policies in May 2009.
- ICICI Prudential Life insured the largest number of lives under group schemes at over 715,000 in May 2009.
- Overall, life insurers saw growth in new business volumes compared to the same period last year, indicating expansion of the life insurance sector
Analysis and explanation of various investment options in Indiaumang22
To highlight key features of Investment avenue.
To examine knowledge and problem of available investment avenues.
To find the main bases of different investment avenues, an investor thinks before investing.
The document discusses the current state and future potential of the Indian mutual fund industry. It notes that while the industry has grown at a CAGR of 3.2% from 2010-2013, growth has been lackluster recently due to stock market performance and rising inflation. The industry is concentrated among the top 8 players who control 80% of assets under management. Debt funds have gained popularity recently as investors seek fixed returns. The corporate segment makes up 49% of assets, while retail and high-net-worth individuals are growing segments. Wider distribution and improved investor education are keys to further industry growth. The short to medium term outlook is moderate due to market performance and evolving regulations.
The document is a summer internship report that analyzes differences in credit ratings assigned by two major Indian credit rating agencies, CRISIL and ICRA, to the same set of companies. Through statistical analysis, the report finds significant differences in ratings between the two agencies across various industry sectors and for non-listed companies. It attributes these differences to the subjective nature of ratings and differences in rating methodologies, like ICRA considering loss given default while CRISIL focuses only on probability of default. The report concludes there are meaningful differences between ratings by CRISIL and ICRA even when evaluating the same companies.
Credit rating is an analysis of the credit risks associated with a financial instrument or a financial entity. It is a rating given to a particular entity based on the credentials and the extent to which the financial statements of the entity are sound, in terms of borrowing and lending that has been done in the past.
Empowering MSMEs - Benefits of Credit Rating in MSME - Part - 8Resurgent India
Approaching a credit rating agency is a good option for small and medium enterprises (SMEs) given the problems they face in seeking finance. Rating agencies assess a firm's financial viability and capability to honour business obligations, provide an insight into its sales, operational and financial composition, thereby assessing the risk element and highlights the overall health of the enterprise.
This M Intelligence piece will explore the product mechanics and design considerations of Whole Life (WL) insurance. There are two general categories of WL...
This document provides background information on capital markets and the history of stock exchanges. It discusses how capital markets help companies and governments raise long-term funds. It then gives a brief history of stock exchanges, noting that the Bombay Stock Exchange (BSE) established in 1875 is Asia's first stock exchange. It traces the origins of stock brokers back to the 12th century in France and discusses the earliest stock exchanges that emerged in the 13th-14th centuries in Belgium and Italy. The document emphasizes that the Dutch started the first joint stock companies and the first company to issue stocks and bonds was the Dutch East India Company in 1602 on the Amsterdam Stock Exchange.
The document provides an overview of the DSP BlackRock MIP Fund, a hybrid fund that invests 75-100% of assets in debt and money market securities and 0-25% in equities. It aims to generate income from its debt allocation while also providing capital appreciation potential from its equity exposure. The fund analyzes macroeconomic factors to dynamically allocate between asset classes and focuses on high credit quality, liquid debt instruments to generate risk-adjusted returns. It is suitable for investors looking for dividend income and price appreciation over a 12-month horizon.
Investor behavior in the stock market – Rational and Irrational perspectivesRohit Bedi
This research involves the study of buying and selling behavior of the Indian investor from both rational and irrational perspectives. The research involves collection of primary data through a questionnaire. The questionnaire has general questions related to investors’ preferences regarding their investment decisions and questions related to the influence groups which affect their investment behavior.
A study on empherical testing of capital asset pricing modelProjects Kart
This document is a project report submitted to the University of Mysore in partial fulfillment of an MBA degree. It examines the empirical testing of the Capital Asset Pricing Model (CAPM) conducted at Asit C. Mehta Investment Intermediates Ltd in Hassan, India between 2008-2010. The report includes an introduction to the topic, literature review, company and industry profiles, data collection and interpretation, findings, suggestions and conclusions. The student conducted the research under the guidance of their project guide.
A Study on Factors Influencing Investment Decision Regarding Various Financia...ijtsrd
In the current era of financial inclusion, digitalization and economy driving towards a faster pace, the investors are very much concerned about their savings which can be transferred into investments. The main purpose of investment is to maximize the returns out of it with minimum expenses and risk. There are various factors which affect the investment decision like demographic factors and behavioural biases which decides the type, tenure, amount of the investment. This paper explores that return, advice, tax benefit, liquidity risk appetite of the investors altogether plays a significant part in influencing the investors. Is there any impact of demographic factors like age, gender and income on factors influencing investment decision tried to find out. The results show that factors influencing the investment decision are influenced by income level not by age and gender. Dr. Ankit Jain | Mr Raj Tandel "A Study on Factors Influencing Investment Decision Regarding Various Financial Products" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33678.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/33678/a-study-on-factors-influencing-investment-decision-regarding-various-financial-products/dr-ankit-jain
The document discusses portfolio construction and performance evaluation. It begins with an introduction and outlines of macro factor analysis, industry analysis of selected firms, company analysis, portfolio construction outcomes, and portfolio performance evaluation. It then discusses selecting securities from different industries to diversify idiosyncratic risk and maximize returns. Various portfolio strategies are evaluated, including minimizing risk with and without short selling, maximizing returns, and achieving a target return with minimum risk. Portfolio performance is assessed using metrics like Sharpe ratio, Treynor ratio, and alpha.
WHAT IS CREDIT RATING,WHAT ARE CREDIT RATING AGENCIES? CREDIT RATING AGENCIES IN INDIA.CRISIL,ICRA,CARE RATINGS SUCH AS AAA+,AA,A,BBB,BB,B,C,D. INVESTMENT GRADE AND SPECULATIVE GRADE RATING.IPO GRADING. LONG TERM,SHORT TERM, MEDIUM TERM RATING.USES OF CREDIT RATING. CREDIT RATING AND BOND PRICE MOVEMENT. RATING METHOD.SEBI GUIDELINES ON CREDIT RATING.SECURITIES AND EXCHANGE BOARD OF INDIA IS SEBI.HOW TO CHECK CREDIT RATING? CREDIT RATING COMPANY
The document summarizes Caerus Wealth's investment proposition and approach. It discusses recent regulatory concerns about suitability of investments and risk profiling. Caerus Wealth aims to address these concerns by developing their own funds tailored to client risk profiles and needs. Their proposition includes a range of core, protected, bespoke, mainstream, and focused funds at different risk/reward and cost levels.
The document discusses investment and the factors that affect investment decisions. It defines investment as committing capital to generate returns over time through interest, income, or asset appreciation. Key factors influencing investment choices include risk tolerance, return needs, investment horizon, tax exposure, market trends, investment needs, and dependents. The author conducted a study analyzing these factors and their impact on preferences for different investment avenues like shares, insurance, mutual funds, and more. Graphical analyses showed that returns were the main factor affecting decisions, disproving the hypothesis that market fluctuations were the primary deterrent, while risk tolerance was also important.
This document appears to be a student project report on analyzing investment decisions. It includes sections on declaring that the work is original, an abstract summarizing the project, acknowledgements of those who helped with the project, a table of contents, and an introduction on investment decisions and types of investment options. The report will analyze and compare different investment options such as equities, bonds, gold, mutual funds, real estate, and life insurance on parameters like returns, safety, liquidity, and risk over a 5 year period. It aims to help investors understand various options and choose investments suited to their goals and risk tolerance.
A project report on portfolio managementProjects Kart
Portfolio management involves managing a group of investments to meet organizational goals and reduce risk. It includes deciding which investments to select and fund, and which to discontinue. The document discusses how portfolio management applies to managing software applications, products, and initiatives within an organization. It aims to maximize returns and diversify investments across different asset classes or types of projects.
This document discusses credit rating agencies and their role and methodology. It provides an overview of the major credit rating agencies in India - CRISIL, ICRA, CARE, ONICRA, and Fitch - and their objectives to provide unbiased credit ratings to help restore confidence in the capital markets. It also outlines the various factors that credit rating agencies consider when assigning ratings, such as a company's history, accounting practices, business fundamentals, liquidity, management quality, asset quality, profitability, and capital structure. The methodology aims to assess the relative ability of companies to repay debt obligations.
EVALUATING PERCEPTION OF INVESTORS TOWARDS MUTUAL FUNDS & PERFORMANCE OF THE ...Nishant Kumar
This study has investigated into the perception of the investors in Indian markets towards Mutual Funds and has evaluated the returns of the top Mutual Fund performers in India over period of last 3 years – January 1, 2016 to December 31, 2018. It has helped us to conclude on how different schemes attract investors of different age groups and how the impact of different characteristics are known by investors.
This study looks specifically into open-ended equity schemes. Returns have been calculated using daily closing values of NAV of the selected schemes. BSE-Sensex has been chosen as the market portfolio as a comparison basis here. Based on Sharpe, Treynor, and Jensen’s measure the historical performance of the selected schemes are evaluated, whose results will be useful for investors for taking better investment decisions.
This document discusses an analysis of investors' risk perceptions towards mutual fund services. It begins with an abstract that outlines the goal of understanding investors' perceptions and expectations to support financial decision making for mutual funds.
The introduction provides background on mutual funds and how they have diversified their product offerings over time. However, these changes still need to align with investors' expectations. The literature review covers previous research on investors' rationality regarding risk-return tradeoffs, investment expectations, and financial innovations in mutual funds.
The document then discusses potential service quality gaps for mutual funds, including ambiguity in investors' expectations and gaps in designing fund services. It introduces the concept of a "tolerance zone" to depict investors' acceptable levels of
A Study on Investors Perception towards Mutual Fund Investments (With Special...Dr. Amarjeet Singh
This examination on Investors acknowledgment
towards and late improvement and headway of Mutual Fund
premiums in Alwar city goes under the board an area of
organization publicizing. In the wide thought of organization
publicizing it exclusively centers around the exhibiting of cash
related organization specifically basic resources. Well ordered
Indian budgetary market is getting the chance to be engaged
and the supply of various fiscal instruments ought to be in
parity to the premium perspectives of the monetary
authorities. The prime drive of any hypothesis is to get most
extraordinary returned with a base danger and normal
resources allow to the budgetary masters. The examination
gives an information into the sorts of risks which exist in a
mutual save plan. The data was assembled from shared save
budgetary authorities similarly as non basic store examiners of
this industry. The investigation bases on the association
between theory decision and factors like liquidity, cash related
care, and demography. It was found commonly safe resources
and liquidity of store plot are having influence on the
budgetary authority's acumen for placing assets into the
mutual save. With the more broad thought of the distinctive
components of organization publicizing, thing care, mark
tendencies, and money related authority's satisfaction are the
specific regions of the examination. The other displaying limits
like thing progression publicize division, channels of
exhibiting, thing life cycle, scale headway procedures and their
impact of Marketing are completely disposed of from the audit
of this examination. So likewise the availability of substitute
aftereffect of normal hold units and their impact on this
organization thing it also rejected in the examination. In
reality, even in the normal store monetary authorities lead also
the researcher concentrate only the urban theorists and their
anxiety for this examination work. The rustic speculator's
perspectives are totally barred from the investigation.
Analysis and explanation of various investment options in Indiaumang22
To highlight key features of Investment avenue.
To examine knowledge and problem of available investment avenues.
To find the main bases of different investment avenues, an investor thinks before investing.
The document discusses the current state and future potential of the Indian mutual fund industry. It notes that while the industry has grown at a CAGR of 3.2% from 2010-2013, growth has been lackluster recently due to stock market performance and rising inflation. The industry is concentrated among the top 8 players who control 80% of assets under management. Debt funds have gained popularity recently as investors seek fixed returns. The corporate segment makes up 49% of assets, while retail and high-net-worth individuals are growing segments. Wider distribution and improved investor education are keys to further industry growth. The short to medium term outlook is moderate due to market performance and evolving regulations.
The document is a summer internship report that analyzes differences in credit ratings assigned by two major Indian credit rating agencies, CRISIL and ICRA, to the same set of companies. Through statistical analysis, the report finds significant differences in ratings between the two agencies across various industry sectors and for non-listed companies. It attributes these differences to the subjective nature of ratings and differences in rating methodologies, like ICRA considering loss given default while CRISIL focuses only on probability of default. The report concludes there are meaningful differences between ratings by CRISIL and ICRA even when evaluating the same companies.
Credit rating is an analysis of the credit risks associated with a financial instrument or a financial entity. It is a rating given to a particular entity based on the credentials and the extent to which the financial statements of the entity are sound, in terms of borrowing and lending that has been done in the past.
Empowering MSMEs - Benefits of Credit Rating in MSME - Part - 8Resurgent India
Approaching a credit rating agency is a good option for small and medium enterprises (SMEs) given the problems they face in seeking finance. Rating agencies assess a firm's financial viability and capability to honour business obligations, provide an insight into its sales, operational and financial composition, thereby assessing the risk element and highlights the overall health of the enterprise.
This M Intelligence piece will explore the product mechanics and design considerations of Whole Life (WL) insurance. There are two general categories of WL...
This document provides background information on capital markets and the history of stock exchanges. It discusses how capital markets help companies and governments raise long-term funds. It then gives a brief history of stock exchanges, noting that the Bombay Stock Exchange (BSE) established in 1875 is Asia's first stock exchange. It traces the origins of stock brokers back to the 12th century in France and discusses the earliest stock exchanges that emerged in the 13th-14th centuries in Belgium and Italy. The document emphasizes that the Dutch started the first joint stock companies and the first company to issue stocks and bonds was the Dutch East India Company in 1602 on the Amsterdam Stock Exchange.
The document provides an overview of the DSP BlackRock MIP Fund, a hybrid fund that invests 75-100% of assets in debt and money market securities and 0-25% in equities. It aims to generate income from its debt allocation while also providing capital appreciation potential from its equity exposure. The fund analyzes macroeconomic factors to dynamically allocate between asset classes and focuses on high credit quality, liquid debt instruments to generate risk-adjusted returns. It is suitable for investors looking for dividend income and price appreciation over a 12-month horizon.
Investor behavior in the stock market – Rational and Irrational perspectivesRohit Bedi
This research involves the study of buying and selling behavior of the Indian investor from both rational and irrational perspectives. The research involves collection of primary data through a questionnaire. The questionnaire has general questions related to investors’ preferences regarding their investment decisions and questions related to the influence groups which affect their investment behavior.
A study on empherical testing of capital asset pricing modelProjects Kart
This document is a project report submitted to the University of Mysore in partial fulfillment of an MBA degree. It examines the empirical testing of the Capital Asset Pricing Model (CAPM) conducted at Asit C. Mehta Investment Intermediates Ltd in Hassan, India between 2008-2010. The report includes an introduction to the topic, literature review, company and industry profiles, data collection and interpretation, findings, suggestions and conclusions. The student conducted the research under the guidance of their project guide.
A Study on Factors Influencing Investment Decision Regarding Various Financia...ijtsrd
In the current era of financial inclusion, digitalization and economy driving towards a faster pace, the investors are very much concerned about their savings which can be transferred into investments. The main purpose of investment is to maximize the returns out of it with minimum expenses and risk. There are various factors which affect the investment decision like demographic factors and behavioural biases which decides the type, tenure, amount of the investment. This paper explores that return, advice, tax benefit, liquidity risk appetite of the investors altogether plays a significant part in influencing the investors. Is there any impact of demographic factors like age, gender and income on factors influencing investment decision tried to find out. The results show that factors influencing the investment decision are influenced by income level not by age and gender. Dr. Ankit Jain | Mr Raj Tandel "A Study on Factors Influencing Investment Decision Regarding Various Financial Products" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33678.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/33678/a-study-on-factors-influencing-investment-decision-regarding-various-financial-products/dr-ankit-jain
The document discusses portfolio construction and performance evaluation. It begins with an introduction and outlines of macro factor analysis, industry analysis of selected firms, company analysis, portfolio construction outcomes, and portfolio performance evaluation. It then discusses selecting securities from different industries to diversify idiosyncratic risk and maximize returns. Various portfolio strategies are evaluated, including minimizing risk with and without short selling, maximizing returns, and achieving a target return with minimum risk. Portfolio performance is assessed using metrics like Sharpe ratio, Treynor ratio, and alpha.
WHAT IS CREDIT RATING,WHAT ARE CREDIT RATING AGENCIES? CREDIT RATING AGENCIES IN INDIA.CRISIL,ICRA,CARE RATINGS SUCH AS AAA+,AA,A,BBB,BB,B,C,D. INVESTMENT GRADE AND SPECULATIVE GRADE RATING.IPO GRADING. LONG TERM,SHORT TERM, MEDIUM TERM RATING.USES OF CREDIT RATING. CREDIT RATING AND BOND PRICE MOVEMENT. RATING METHOD.SEBI GUIDELINES ON CREDIT RATING.SECURITIES AND EXCHANGE BOARD OF INDIA IS SEBI.HOW TO CHECK CREDIT RATING? CREDIT RATING COMPANY
The document summarizes Caerus Wealth's investment proposition and approach. It discusses recent regulatory concerns about suitability of investments and risk profiling. Caerus Wealth aims to address these concerns by developing their own funds tailored to client risk profiles and needs. Their proposition includes a range of core, protected, bespoke, mainstream, and focused funds at different risk/reward and cost levels.
The document discusses investment and the factors that affect investment decisions. It defines investment as committing capital to generate returns over time through interest, income, or asset appreciation. Key factors influencing investment choices include risk tolerance, return needs, investment horizon, tax exposure, market trends, investment needs, and dependents. The author conducted a study analyzing these factors and their impact on preferences for different investment avenues like shares, insurance, mutual funds, and more. Graphical analyses showed that returns were the main factor affecting decisions, disproving the hypothesis that market fluctuations were the primary deterrent, while risk tolerance was also important.
This document appears to be a student project report on analyzing investment decisions. It includes sections on declaring that the work is original, an abstract summarizing the project, acknowledgements of those who helped with the project, a table of contents, and an introduction on investment decisions and types of investment options. The report will analyze and compare different investment options such as equities, bonds, gold, mutual funds, real estate, and life insurance on parameters like returns, safety, liquidity, and risk over a 5 year period. It aims to help investors understand various options and choose investments suited to their goals and risk tolerance.
A project report on portfolio managementProjects Kart
Portfolio management involves managing a group of investments to meet organizational goals and reduce risk. It includes deciding which investments to select and fund, and which to discontinue. The document discusses how portfolio management applies to managing software applications, products, and initiatives within an organization. It aims to maximize returns and diversify investments across different asset classes or types of projects.
This document discusses credit rating agencies and their role and methodology. It provides an overview of the major credit rating agencies in India - CRISIL, ICRA, CARE, ONICRA, and Fitch - and their objectives to provide unbiased credit ratings to help restore confidence in the capital markets. It also outlines the various factors that credit rating agencies consider when assigning ratings, such as a company's history, accounting practices, business fundamentals, liquidity, management quality, asset quality, profitability, and capital structure. The methodology aims to assess the relative ability of companies to repay debt obligations.
EVALUATING PERCEPTION OF INVESTORS TOWARDS MUTUAL FUNDS & PERFORMANCE OF THE ...Nishant Kumar
This study has investigated into the perception of the investors in Indian markets towards Mutual Funds and has evaluated the returns of the top Mutual Fund performers in India over period of last 3 years – January 1, 2016 to December 31, 2018. It has helped us to conclude on how different schemes attract investors of different age groups and how the impact of different characteristics are known by investors.
This study looks specifically into open-ended equity schemes. Returns have been calculated using daily closing values of NAV of the selected schemes. BSE-Sensex has been chosen as the market portfolio as a comparison basis here. Based on Sharpe, Treynor, and Jensen’s measure the historical performance of the selected schemes are evaluated, whose results will be useful for investors for taking better investment decisions.
This document discusses an analysis of investors' risk perceptions towards mutual fund services. It begins with an abstract that outlines the goal of understanding investors' perceptions and expectations to support financial decision making for mutual funds.
The introduction provides background on mutual funds and how they have diversified their product offerings over time. However, these changes still need to align with investors' expectations. The literature review covers previous research on investors' rationality regarding risk-return tradeoffs, investment expectations, and financial innovations in mutual funds.
The document then discusses potential service quality gaps for mutual funds, including ambiguity in investors' expectations and gaps in designing fund services. It introduces the concept of a "tolerance zone" to depict investors' acceptable levels of
A Study on Investors Perception towards Mutual Fund Investments (With Special...Dr. Amarjeet Singh
This examination on Investors acknowledgment
towards and late improvement and headway of Mutual Fund
premiums in Alwar city goes under the board an area of
organization publicizing. In the wide thought of organization
publicizing it exclusively centers around the exhibiting of cash
related organization specifically basic resources. Well ordered
Indian budgetary market is getting the chance to be engaged
and the supply of various fiscal instruments ought to be in
parity to the premium perspectives of the monetary
authorities. The prime drive of any hypothesis is to get most
extraordinary returned with a base danger and normal
resources allow to the budgetary masters. The examination
gives an information into the sorts of risks which exist in a
mutual save plan. The data was assembled from shared save
budgetary authorities similarly as non basic store examiners of
this industry. The investigation bases on the association
between theory decision and factors like liquidity, cash related
care, and demography. It was found commonly safe resources
and liquidity of store plot are having influence on the
budgetary authority's acumen for placing assets into the
mutual save. With the more broad thought of the distinctive
components of organization publicizing, thing care, mark
tendencies, and money related authority's satisfaction are the
specific regions of the examination. The other displaying limits
like thing progression publicize division, channels of
exhibiting, thing life cycle, scale headway procedures and their
impact of Marketing are completely disposed of from the audit
of this examination. So likewise the availability of substitute
aftereffect of normal hold units and their impact on this
organization thing it also rejected in the examination. In
reality, even in the normal store monetary authorities lead also
the researcher concentrate only the urban theorists and their
anxiety for this examination work. The rustic speculator's
perspectives are totally barred from the investigation.
The journal publishes original works with practical significance and academic value. All papers submitted to IJMRR are subject to a double-blind peer review process. Authors are invited to submit theoretical or empirical papers in all aspects of management, including strategy, human resources, marketing, operations, technology, information systems, finance and accounting, business economics, and public sector management.
The document provides an overview of mutual funds in India. It discusses the industry profile, organization of a mutual fund, advantages of mutual funds, types of mutual fund schemes, terms used in mutual funds like NAV, sale price, redemption price etc. It also discusses the company profile of Krish Finance which provides various financial services including stock broking, distribution of financial products, insurance broking etc. Finally, it outlines the methodology used for the study including data collection, research design and tools used for analysis like Sharpe ratio, Treynor measure and Jensen's alpha.
This document discusses target date funds and evaluates their structure. It notes that target date funds have come under scrutiny following market losses during the financial crisis. The document outlines key areas for plan sponsors to evaluate when selecting a target date fund, including the investment management firm capabilities, equity glide path, asset class selection, costs, and whether the fund is designed to retirement date or through retirement. It emphasizes the importance of the investment management firm and understanding how the equity allocation changes over the fund's lifetime.
This document summarizes a study on customer preferences for various mutual fund schemes in Thane City, India. It provides background on mutual funds and reviews previous literature on investor preferences and demographics. The study uses a questionnaire to collect data from 100 investors in Thane City and analyzes the data using chi-square tests to determine associations between investor attitudes and age, gender, income level, and education level. Key findings include that younger investors have more preference for mutual funds, males are more favorable than females, mid-income groups prefer funds most, and post-graduates are more favorable toward funds. The study aims to help mutual fund companies improve marketing and understand investor preferences.
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Presentatie 4. Jochen Cremer - TU Delft 28 mei 2024
A Study of Risk Orientation of Retail investors in Indian Mutual fund Industry with special Reference to Odisha, India
1. Presented by :
ANURAG CHAKRABORTY
B.B.A. -3rd Year
R.I.M.S. ,Rourkela-769015
COMPILED BY ANURAG
CHAKRABORTY
2. The 1993 SEBI (Mutual Fund) Regulations were
substituted by a more comprehensive and
revised Mutual Fund Regulations in 1996. The
industry now functions under the SEBI (Mutual
Fund) Regulations 1996. The number of mutual
fund houses went on increasing, with many
foreign mutual funds setting up funds in India
and also the industry has witnessed several
mergers and acquisitions. As at the end of
January 2003, there were 33 mutual funds with
total assets of Rs. 1,21,805 crores. The Unit
Trust of India with Rs.44,541 crores of assets
under management was way ahead of other
mutual funds.
COMPILED BY ANURAG
CHAKRABORTY
3. A Mutual Fund is a trust that pools the
savings of a number of investors who
share a common financial goal. The
money thus collected is then invested in
capital market instruments such as
shares, debentures and other securities.
COMPILED BY ANURAG
CHAKRABORTY
4. The income earned through these
investments and the capital appreciation
realised are shared by its unit holders in
proportion to the number of units owned by
them. Thus a Mutual Fund is the most
suitable investment for the common man as it
offers an opportunity to invest in a
diversified, professionally managed basket of
securities at a relatively low cost.
COMPILED BY ANURAG
CHAKRABORTY
8. Professional Management
Diversification
Convenient Administration
Return Potential
Low Costs
Liquidity
Transparency
Flexibility
Choice of schemes
Tax benefits
Well regulated
COMPILED BY ANURAG
CHAKRABORTY
9. All investments whether in shares, debentures or
deposits involve risk.
Companies may default in payment of
interest/principal on their debentures/bonds/
deposits.
COMPILED BY ANURAG
CHAKRABORTY
10. While risk cannot be eliminated, skillful
management can minimize risk. Mutual Funds
UNDERSTANDING AND MANAGING RISK
help to reduce risk through diversification and
professional management. The experience and
expertise of Mutual Fund managers in selecting
fundamentally sound securities and timing their
purchases and sales, help them to build a
diversified portfolio that minimizes risk and
maximizes returns.
COMPILED BY ANURAG
CHAKRABORTY
14. SEBI (Mutual Funds) Regulations, 1996
ASSOCIATION OF MUTUAL FUNDS OF INDIA
(AMFI)
COMPILED BY ANURAG
CHAKRABORTY
15. COMPILED BY ANURAG
CHAKRABORTY
Mutual fund investors face a dilemma of persistency in the
performance of successful mutual fund managers to offset
the costs of chasing past good performance.
For the individual investor, there are at least two potential
drawbacks to chasing past performance.
1. If one sells a currently held fund to buy a winner, this will
accelerate the recognition of capital gains, thus imposing a tax
penalty when done in a taxable account.
2. Top performing funds tend to charge higher operating
expenses and to have higher turnover.
16. Large number of small investors belonging to the
middle class households
Has a very good financial infrastructure and access
to large volume of NRI funds
Savings rate in Odisha is very high compared to
other states
COMPILED BY ANURAG
CHAKRABORTY
17. Performance chasing pours more money into funds with
high expense ratios and high turnover.
Grossman and Stiglitz (2010) show that in equilibrium
rational investors allocate money to active and passive
strategies in proportions that leads to equal risk-
adjusted expected returns to both strategies.
Behavioral finance models that incorporate
overconfidence (e.g., Odean (2008)) provide an even
stronger prediction: active investment strategies will
underperform passive investment strategies.
Chasing performance, investors create agency conflicts
with fund managers (and more generally fund
providers).
COMPILED BY ANURAG
CHAKRABORTY
18. Huge literature available on predicting stock market returns has proved that
generally investors think high past stock market return predict high future return
(De Bondt, 1993) even though there is no support for such belief in the data
(Fama 1988).
Further, evidence by Fisher and Statman (2000) have shown that individual
investor’s stock market return expectations are positive- ly correlated with past
returns.
An attempt to relate stock expected returns and interrelated at- tributes can be
well traced from Asset pricing Model that explains an assets expected return is
positively related to its systematic market risk (Black 1972). The crux of these
models is that risky portfolio yields higher return.
Although majority of investors who invest in mutual fund them- selves are not
clear with the objective and constraints of their in- vestment but in addition to
this most important critical gap that exist in this process is lack of awareness
about presence of risk ele- ments in mutual fund investment. The new marketing
philosophy and strategies place special emphasis on recognition of customer
needs in an effort to provide high level of quality services (Harri- son, 2000).
Panda and Nalini (2001) evaluated the cause and effect relation- ship between
mutual fund investment decision mutual fund prod- ucts are core product,
investors expectation, service behaviour, persuasive promotion and investor
confidence. The buying intent of a mutual fund product by small investor can be
due to multiple reasons depending upon customers risk return trade off
COMPILED BY ANURAG
CHAKRABORTY
19. Patel et al., (2002) fund the most important factors loading to invest on mutual
fund is the customer use factors other than return and risk. The customer use
factors are the diversification, liquidity, transparency, performance,
management, fees, fund managers’efficiency and reputation, flexibility and
accessibility and switching possibilities.
Kaul and Gupta (2006) analysed the investors’ perception on various reasons to
select the mutual fund scheme. These are risk capacity and tolerance, liquidity
needs, specific objectives, credibility of the sponsors, investment philosophy of
the fund, performance of the scheme, dividends, entry and exit loads, expenses
charged to the fund and services offered by the fund.
Study by Laukkanen (2006) explains that varied attributes present in a product
or service facilitate customer’s achievement of desired end-state and the
indicative facts of study show that electronic services create value for
customers in service consumption.
Return ambiguity and changes in risk perception of individual investor affect
action taken in risky financial market. In a more complex situation taking
rational decision is undoubtedly difficult but certainly not impossible.
Computational complexities are not only the reason why rationality assumption
is challenged rather challenges also come from cognitive reasoning (Anderson
1991) where question is how optima human beings are.
A more realistic notion of rationality is bounded rationality de- fined by Simon
(Simon 1957) that property of an agent who be- haves in a manner that is
nearly as optimal with respect to its goals as resource will allow. Here resource
includes processing power, algorithm and time available to the agent.
COMPILED BY ANURAG
CHAKRABORTY
20. Zeithaml, V (2003) expressed satisfaction of individual investor
comprise of a range of varied parameters and is not easy to define
but in general it means positive assessment. Where the growing
demand of investor’s expectation is following the way most of
researcher admit the fact that working of customer’s mind is a
mystery which is difficult to solve (Dash, 2006).
Customer satisfaction is subjective and even difficult to measure. To
draft an accurate picture of customer satisfaction organizations
should diligently use information – collecting tools and market
research that will finally enable an organization to identify criti- cal
elements of customer satisfaction and further fine- tune their
operations to achieve incremental improvements. Significant gaps
that exist between service expectations and perceptions is right
from the first step where AMCs are not found capable enough to
translate investor’s expectation, reason being financial intermedi-
aries having inadequate knowledge and training are not able to
communicate the message to each player effectively.
COMPILED BY ANURAG
CHAKRABORTY
21. Williams (2005) proposed that sense of unpredictability of actual results of an
action differing from possible predicted results in a given situation. Risk not only
includes uncertainty and loss elements but time factor cannot be excluded from
probability of risk. Doubt concerning the outcome in a given situation before the
event occurs implies that there is something about the present situation that will
be different in the future.
Tolerance Zone depicts the minimum and maximum specifications as described
by investor for his willingness to assume risk represented by Upper Specification
Limit and Lower Specification Limit. Investors based on his knowledge about the
market volatility where he accepts the minimum risk, which he will have to bear
on his investment, design these specification limits and maximum level is
assumed depending upon his risk appetite and his willingness to maximize his
ROI.
COMPILED BY ANURAG
CHAKRABORTY
22. To examine whether the life cycle influences
the Risk Orientation of retail investors in the
state of Odisha.
To study the perception of risk involved in
Mutual Fund by retail investors.
COMPILED BY ANURAG
CHAKRABORTY
23. The study is primarily based upon primary data collected
from a structured survey through questionnaire. The
survey was conducted on 524 respondents in person. All
the variables were measured by response on five point
Like rt scales, which rated 1 as least important and 5 as
most important.
The collected data was analyzed through statistical tools
like mean, standard deviation, correlation, regression, Chi
square test. To measure internal consistency (reliability) of
the data Cronbach Alpha test has been employed. The
study further employs Kaiser-Meyer-Olkin Measure of
sampling adequacy, Bartlett’s Test of Sphericity and factor
analy- sis as a tool of dimension reduction
COMPILED BY ANURAG
CHAKRABORTY
24. Hypothesis 1: Risk orientation and life cycle are
independent attributes in mutual fund investment
Hypothesis 2: Increase in age decrease the risk
tolerance
COMPILED BY ANURAG
CHAKRABORTY
25. Investors’ Risk Orientation
The risk orientation represents the risk bearing
capacity and interest of the investors.
The risk orientation among the investors is highly
essential to invest on Mutual Funds and their
investment behavior.
The risk orientation among them was measured
with the help of some related statements. The
investors were asked to rate these statements at
five point scale. With the help of the mean score
on the statements, their level of risk orientation
was confined to very high, high, moderate, low
and very low. The distribution of investors on the
basis of their risk orientation has been shown in
Table 1
COMPILED BY ANURAG
CHAKRABORTY
30. The factors considered for selecting the Mutual Fund
scheme among the investors was derived from the
score of the variables considered to select the Mutual
Fund scheme. The factor analyses have been
administered to narrate the variables into factors.
Initially, the tests of validity of data for factor analysis
have been conducted with the help of KMO measure
of sampling adequacy and Bartlett's test of sphericity.
The resulted KMO measure of 0.701 and zero per
cent level of significance of chi-square value satisfy
the validity of data for factor analysis. The factor
analysis results in five important factors. The factors,
its Eigen value and the per cent of variance explained
by the factor have been illustrated in Table 5
COMPILED BY ANURAG
CHAKRABORTY
31. COMPILED BY ANURAG
CHAKRABORTY
Cronbach’s Alpha Cronbach’s Alpha
Based on
Standardized
Items
N of Items
.826 .825 23
Factors Considered for Selecting the Mutual Fund Scheme The factors
considered for selecting the Mutual Fund scheme among the investors
was derived from the score of the variables considered to select the
Mutual Fund scheme. The factor analyses have been admin- istered to
narrate the variables into factors. Initially, the tests of validity of data
for factor analysis have been conducted with the help of KMO measure
of sampling adequacy and Bartletts test of sphericity. The re- sulted
KMO measure of 0.701 and zero per cent level of significance of chi-
square value satisfy the validity of data for factor analysis. The factor
analysis results in five important factors. The factors, its eigen value
and the per cent of variance explained by the factor have been
illustrated in Table 5
32. Figure 2
The screen plot shows that after variable 2
there is a point of inflexion on the curve.
Thus we can probably justify retaining 2
factors Given the large sample, it is probably
safe to assume Kaiser’s criterion; how- ever,
we can analysis specifying that SPSS extract
only two factors and compare the results
COMPILED BY ANURAG
CHAKRABORTY
34. The risk orientation represents the risk bearing
capacity and interest of the investors. Even though,
the Mutual Fund is a risk less investment avenues in
the capital market, it is also involved with market
risks. The risk orientation among the investors is
highly essential to invest on Mutual Funds and their
investment behavior. The most important factors
were Risk capacity, Company name, Credibility of
sponsors, Peer group, Tolerance, Risk adjusted
return, Fund objectives, Type of portfolio. It was thus
proved that there is a significance relationship
between the age and the risk behaviour and on this
bases we can sum up by saying that as people grow
their risk appitite becomes low and instead of be- ing
risk takers they are more prone to avoid risk.
COMPILED BY ANURAG
CHAKRABORTY