A

PROJECT ON

COMPARATIVE ANALYSIS OF EQUITY MUTUAL FUND

AT

ARTHAYAN BIZFINMART PRIVATE LIMITED

SUBMITTED TO

SAVITRIBAI PHULE PUNE UNIVERSIT

IN PARTIAL FULFILLMENT OF

MASTER IN BUSINESS ADMINISTRATION

SUBMITTED BY

HRISHIKESH BALASO GURGUDE

(2021-22)

UNDER THE GUIDANCE OF

DR.RISHIKAYSH KAAKANDIKAR

Zeal College Of Engineering & Research

(ZCOER)
 ACKNOWLEDGEMENT

I express my sincere thanks to the Project Guide and my mentor Dr. Rishikaysh
Kaakandikar, for his cooperation and sincere advice from time to time. I also thank them
for providing me with the relevant books related to my topic without which the completion
of this project would not have been possible.

I express my sincere thanks to ZCOER. and Director of ZCOER Dr. Ashiwini Sovani
For providing me an opportunity to complete my project report

I would like to thanks God and my parents for supporting me also clients.

DATE : Signature of the Student

PLACE : MR.HRISHIKESH BALASO GURGUDE

 DECLARATION

I hereby declare that the summer internship project titled “COMPARATIVE ANALYSIS
OF EQUITY MUTUAL FUND” at Arthayan Bizfinmart Pvt. Ltd. Is a confide record
of original work carried out by me under the supervision of my project guide Dr.
Rishikaysh Kaakandikar, towards partial fulfillment of for the MBA program of the Pune
University.

I hereby declare that this dissertation is the result of my efforts and I have not received any
unprecedented help.

And also I hereby declare that I have not submitted this dissertation any other university
For the Award of any Degree or Diploma.

Date: Signature of the Student

Place: MR.HRISHIKESH BALASO GURGUDE

 INDEX

SR.NO TOPIC PAGE NO.

1 ABSTRACT 1
2 INTRODUCTION 2 - 12

3 STATEMENT OF PROBLEM 13
4 OBJECTIVE OF STUDY 14
5 COMPANY PROFILE 15 - 16
6 RESEARCH METHODOLOGY 17

7 DATA COLLECTION 18 - 26
8 SCOPE OF STUDY 27
9 LIMITATION OF STUDY 28
10 REVIEV LITERATURE 29
11 INDUSTRYANYLYSIS 30 - 53
12 COMPANY ANYLYSIS 54 - 62
BIBLIOGRAPHY 63
SUGGESTION 64
CONCLUSION 65
ANNEXURE 66 - 68
 CHAPTER : 1

Abstract

Saving and Investing is the more important in This fiercely competitive World. It’s
important to save Money, but more important than that is to invest these Savings into
something which gives a decent return. Investment depends on person to person. While
somebody Wants security, others might give more weightage to returns Alone.
Somebody else might want to plan for his child’s Education while somebody might be
saving for the Proverbial rainy day or even life after retirement. With Objectives defying
any range, it is obvious that the products Required will vary as well. Indian capital
market provides Various type of investment scheme like- Different type of Insurance,
Bonds, Investment in shares, Debentures, Warrants and Mutual funds. Indian Mutual
Funds industry Offers a plethora of schemes and serves broadly all types of Investors.
The range of products includes equity funds, Diversified fund, sector fund, Index fund,
tax saving fund, Debt, liquid, gilt and balanced funds, hedge fund. There are Also funds
meant exclusively for young and old, small and Large investors. Among various financial
product mutual Funds make sure the minimum risk and maximum return to The
investors. Investors of all categories could choose to Invest on their own in multiple
options but opt for Mutual Funds for the sole reason that all benefits come in a Package.
The Mutual Fund industry is having its hands full To cater to various needs of the
investors by up with New plans, schemes and options with respect to rate of Returns,
dividend frequency and liquidity. Mutual funds are Mostly depends on Indian equity
market. That’s why it is Very important issue to choosing profitable mutual funds. This
study deals with the selected mutual funds that are Offered for investment by the various
fund houses in India. This study focused on the analysis of selected mutual funds
Schemes in terms of risk-return relationship

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 CHAPTER : 2

Introduction

Mutual Fund

a mutual fund is a company that pools the money Of many investors-its share holder—to
invest in a verity of Different securities, In other words 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. Those securities are professionally managed on behalf of
the shareholders and each investor holds a pro rata share of the portfolio – entitled to any
profits when the securities are sold, but subject to any losses in value as well. In a mutual
funds a lead manager, who is also known as the portfolio manager trades the fund‘s
underlying securities and realizing capital gains or losses. Thus, a Mutual Fund is the

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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.
Anybody with an inventible surplus of as Little as a few thousand rupees can invest in
Mutual Funds. The flow chart below describe the working of a mutual funds

A mutual fund is the ideal investment vehicle for today‘s Complex and modern financial
scenario. Markets for equity Shares, bonds and other fixed income instruments, real
estate, Derivatives and other assets have become mature and Information driven. Price
changes in these assets are driven By global events occurring in faraway places. A typical
Individual is unlikely to have the knowledge, skills, Inclination and time to keep track of
events, understand their Implications and act speedily. An individual also finds it
Difficult to keep track of ownership of his assets, Investments, brokerage dues and bank
transactions etc. A Mutual fund is the answer to all these situations. A draft offer

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Document is to be prepared at the time of launching the fund. Typically, it pre specifies
the investment objectives of the Fund, the risk associated, the costs involved in the
process And the broad rules for entry into and exit from the fund and Other areas of
operation. In India, as in most countries, these Sponsors need approval from a regulator,
SEBI (Securities exchange Board of India) in our case. SEBI looks at track Records of
the sponsor and its financial strength in granting Approval to the fund for commencing
operations. A sponsor Then hires an asset management company to invest the funds
According to the investment objective. An Asset management Company (AMC) is a
highly regulated organization that pools Money from investors and invest the same in a
portfolio. They charge a small management fee, which is normally 1.5 Percent of the total
fund managed. The value of a share of the Mutual fund, known as the net asset value per
share (NAV). NAV or net asset value of the fund is the cumulative market Value of the
assets of the fund net of its liabilities. NAV per Units is divided by the number of units
outstanding. Buying And selling into funds is done on the basis of NAV related Price.
The Mutual Fund industry in India started in 1963 with The formation of Unit Trust of
India, at the initiative of the Government of India and Reserve Bank of India.

Types of Mutual Funds

Money market funds

These funds invest in short-term fixed income securities such as government bonds,
treasury bills, bankers’ acceptances, commercial paper and certificates of deposit. They
are generally a safer investment, but with a lower potential return then other types of
mutual funds. Canadian money market funds try to keep their net asset value (NAV)
stable at $10 per security.

Fixed income funds

These funds buy investments that pay a fixed rate of return like government bonds,
investment-grade corporate bonds and high-yield corporate bonds. They aim to have
money coming into the fund on a regular basis, mostly through interest that the fund

4
earns. High-yield corporate bond funds are generally riskier than funds that hold
government and investment-grade bonds.

Equity funds

These funds invest in stocks. These funds aim to grow faster than money market or fixed
income funds, so there is usually a higher risk that you could lose money. You can
choose from different types of equity funds including those that specialize in growth
stocks (which don’t usually pay dividends), income funds (which hold stocks that pay
large dividends), value stocks, large-cap stocks, mid-cap stocks, small-cap stocks, or
combinations of these.

Balanced funds

These funds invest in a mix of equities and fixed income securities. They try to balance
the aim of achieving higher returns against the risk of losing money. Most of these funds
follow a formula to split money among the different types of investments. They tend to
have more risk than fixed income funds, but less risk than pure equity funds. Aggressive
funds hold more equities and fewer bonds, while conservative funds hold fewer equities
relative to bonds.

Index funds

These funds aim to track the performance of a specific index such as the S&P/TSX
Composite Index. The value of the mutual fund will go up or down as the index goes up
or down. Index funds typically have lower costs than actively managed mutual funds
because the portfolio manager doesn’t have to do as much research or make as many
investment decisions.

Specialty funds

These funds focus on specialized mandates such as real estate, commodities or socially
responsible investing. For example, a socially responsible fund may invest in companies
that support environmental stewardship, human rights and diversity, and may avoid
companies involved in alcohol, tobacco, gambling, weapons and the military.

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Fund-of-funds

These funds invest in other funds. Similar to balanced funds, they try to make asset
allocation and diversification easier for the investor. The MER for fund-of-funds tend to
be higher than stand-alone mutual funds.

What is Equity Funds-

Equity mutual funds invest primarily in shares of listed companies. Equity funds may
invest in companies belonging to different sectors and maybe diversified across different
market capitalization segments like, large cap, mid-cap and small cap. Based on
investment in different market capitalization segments, there can be large cap, mid cap
and small cap funds in an AMC. Also, equity funds can either be active or passive. The
fund manager of an active fund does market research of companies/ sectors and tries to
invest in the best companies whereas the fund manager of a passive fund builds an
investment portfolio that may mirror a popular market Index, like NIFTY or Sensex.

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Equity Mutual Funds typically invests their assets into shares or stocks of different
companies across market capitalization or particular market cap with an objective of
generating optimal returns over the long run. They however, also involve relatively
higher risks (basis the scheme) and are highly volatile in nature. The fund manager of an
equity mutual fund scheme could attempt to garner optimal returns by spreading the
investment across companies from a variety of sectors. However, the types of securities
chosen are usually based on the theme of the mutual fund scheme. All this is basis the
asset allocation and investment strategy.

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Types of Equity Mutual Funds

Multi Cap funds :

Multi Cap equity funds are open ended schemes which can invest minimum 65% of their
total portfolio in equity and equity related instruments of large, mid and small cap stocks.
As these funds invest across various sectors and market capitalizations, the negative
performance of one sector does not affect the entire portfolio. Multi Cap equity funds aim
for medium to long term capital appreciation and suitable for investors who have high
risk profile and minimum 5 years of investment horizon.

Large cap funds :

As the name suggests, large cap equity mutual funds can invest 80% of their total assets
in large cap companies. Large cap companies are 1st – 100th company in terms of full
market capitalization. These companies are well established names with strong market
share and are considered safer compared to mid and small cap companies. Large cap
funds can be suitable for Investors with moderately high risk taking appetite with 4-5
years of investment horizon.

Mid cap funds :

Mid cap equity mutual funds are open ended schemes which can invest upto 65% of their
total assets predominantly in mid cap stocks. Mid-cap companies are 101st – 250th
company in terms of full market capitalization. These companies may not be well known
and are perceived to be riskier compared to large cap companies. Mid cap funds can be
suitable for Investors with high risk taking appetite with over 5-7 years of investment
horizon

Small cap funds :

Small funds are open ended schemes which can invest upto 65% of their total assets
predominantly in small cap stocks. Small caps are 251st company onwards in terms of
full market capitalization. Small cap companies are mostly not very well known and are
perceived to be very risky in comparison to large and mid-cap companies. Investors with

8
high risk taking appetite with around 7-10 years investment horizon may consider
investing in these funds.

Large and mid-cap fund :

According to the SEBI mandate of this category, the minimum allocation to large and
midcap stocks in these equity mutual funds is 35% each and the maximum can be 65%
each. A large and midcap fund’s market cap characteristics are relatively more
predictable than a multi-cap fund because we know the minimum allocations to different
market cap segments. Only investors with high risk appetites and minimum 5+ year
investment horizon should invest in large and midcap funds because these schemes may
have fairly significant exposure in midcap stocks.

Dividend Yield Funds :

These equity funds invest at least 65% of its portfolio predominantly in high dividend
yielding stocks. These funds are ideal for investors with moderately high risk taking
appetite.

Value Fund :

These equity funds follow a value investment strategy and invest at least 65% of its
portfolio in equity or equity related instruments.

Contra Fund :

These equity funds follow a contrarian investment strategy and invest at least 65% of its
portfolio in equity or equity related instruments.

Focused fund :

Focused Funds are equity funds which can invest maximum in 30 numbers of stocks.
There is no restriction with regards to sector or market cap exposure. In terms of
mandate, these funds are like multi-cap funds only but with a portfolio of maximum 30
stocks.

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Equity-linked Saving Schemes :

Equity-linked Saving Schemes or ELSS Funds are essentially multi-cap equity funds but
they have lock-in period of 3 years from the date of investment as one can save taxes
under Section 80C of The Income Tax Act 1961 by investing maximum Rs 150,000 in a
financial year. ELSS funds may invest upto 80% of their total assets in equity and equity
related instruments.

Sectoral / Thematic Funds :

Sectoral or thematic funds are open ended equity fund which has to invest minimum 80%
of the portfolio in equity or equity related instruments of a particular theme/ sector. Some
example of these funds could be – Pharma, Technology, Consumer or Infrastructure
themes/sector. These funds carry the highest risk and thus suitable only for investors with
very high risk taking appetite and long term investment horizon. Also, as these are very
high risk category of fund, it should not be part of investors’ core mutual fund portfolio.

Investing in Equity Mutual Funds

There are two ways of investing in equity. One, buy and sell stocks yourself and two,
invest through equity mutual funds. However, the two activities have their differences.

10
For the former, one needs to be an expert as well as have a full time involvement but it is
exactly the opposite in case of the latter as the management of your money is done by a
professional investment manager (Asset Management Company). So, if you are not an
expert, it makes sense to invest in equities via mutual funds.

Coronavirus impact on Mutual Funds

A look at the data shows that mutual fund investors have lost money in their schemes
across all equity categories. Around 20 mutual fund categories, including sectors funds,
large, small, mid, multi-cap, value, hybrid and multi-asset allocation schemes, lost money
in the last month.

A category that has fallen the most in the last one month is the energy sector fund
category. This category has seen a fall of 20.08% in one month, followed by international
funds which have fallen by 20.07%. International funds have been among the best
performers in the year 2019. These schemes topped the return chart in 2019 with an
average return of 25.75% and saw huge inflows in the last couple of months.

Another big fall in the last month has been in the banking sector funds. Along with the
COVID-19 threat, this sector has been dealing with NPA and NBFC crisis for the last one
year. The Yes Bank fiasco added to their woes. The banking sector funds have fallen
19.54% in the last one month. Similarly, the infrastructure funds have fallen 19.07% in
one month. These schemes have also been down for a while and have taken a big blow.

The technology sector funds have fallen 18.01% in a month. Mutual fund managers had
anticipated that the technology sector will be hit by the coronavirus spread. With the
USA cutting rates and going into quarantine mode, the situation is bad for these schemes
which are dependent on international markets. For more details, see table below.

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Schemes that lost heavily lost month:

Category One-month returns (%)

Energy Funds -20.08

International Funds -20.07
Banking Funds -19.54
Infrastructure Funds -19.07
PSU Funds -18.26
Technology Funds -18.01
Value Oriented Funds -17.99
Dividend Yield Funds -17.80
Large Cap Funds -17.54
Small Cap Funds -17.04
ELSS Funds -16.50
Multi Cap Funds -16.40
Large & Mid Cap Funds -16.32
Mid Cap Funds -15.47
Consumption Funds -15.12
MNC Funds -13.78
Aggressive Hybrid Funds -13.22
Balanced Hybrid Funds -11.12
Multi Asset Allocation Funds -10.30

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 CHAPTER : 3

Statement of problem

The study will help to know what strategies the investor can adopt while trading in equity
mutual fund with the help of comparative analysis. Fundamental Analysis is the
upcoming tool and helps the investor to know how the bank, it sector like that is
fundamentally strong and who want to invest in a systematic manner in the competitive
world, the study reveals the importance for the investment decision which acts as
guidance and helps them in decision making and predicts the figure price of the script.

Equity mutual fund Analysis is a method in which the investors and traders make
buying and selling decisions by studying and analyzing data history and present data. It
allows the investors to understand the security that a equity can provide, before investing
in it. There are equity analysts who perform thorough research to find out any activity at
any sector of the equity mutual fund.

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 CHAPTER : 4

Objective Of The Study

The objective of the study are as follows

To study the working of mutual fund industries in India and merits and demerits of
mutual funds.

To analyze the performance of the top mutual funds In India

To examine the performance of selected scheme on The basis of risk and return.

To compare the performance of selected schemes With benchmark index to see

whether the scheme is Outperforming and underperforming the benchmark.

To identified equity market return with fund return.

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 CHAPTER : 5

Company Profile

We, Arthayan Bizfinmart Private Limited financial advisory firm based in Pune

Incorporated in 2018 with a vision to become the most client-centric and trusted Partner
for long-term wealth creation.

We are highly experienced in Project Financing, Taxation, Business legal. Compliance,

and Subsidy consultancy and conversant with Industrial, Banking ,And Mercantile
regulations.

We are holding a mutual fund distributor license in India from AMFI as per SEBIR
regulations which caters to all kinds of shares and mutual funds with ICICI Direct as An
authorized channel partner.

We have a pleasure to introduce ourselves as one of the leading Financial &Management

Consultancy Company having clients countrywide. We have served Clients engaged in
different types of industries/business houses.

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•Theoretical Background

Welcome to ARTHAYAN BIZFINMART PRIVATE LIMITED

We, Arthayan Bizfinmart Private Limited are Finance, Taxation, Business Registration,
Statutory Compliance and Strategic Management Consultancy Company based in Pune,
offering services to support and guide you through captioned requirements. We are
highly experienced in Project Financing, Taxation, Business legal Compliance, Subsidy
consultancy and conversant with Industrial, Banking and Mercantile regulations.

● VISION AND MISSION

Mission

“To provide services to help organizations’ become even more successful.”

Vision

“Always stand for the growth of all”

● OUR STRENGTH

● Various Options and Expert Advice:

With us, you can find multiple options with the multitude of financial institutions
(Nationalized Banks, Co-operative Banks, Commercial Banks and NBFC’s) that may suit
to your financial requirements with best possible competitive costs. We always strive to
come with best workable solutions with expert supportive advice.

● Expertise and Experience:

We are enriching with most experienced professionals in the monetary & Advisory
sphere. And keep the ability to accomplish your task by overcoming any hindrance that
may come in the way.

● Deadline / Target:

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Penny saved is penny earn. Time is Money. We believe that task should be accomplished
well in time is more valuable to our client and for us as well

CHAPTER : 6

Research Methodology

The description of the methodology for conducting the study is described as under:

RESEARCH DESIGN:

Descriptive research design used for the present study. As the present study
quantitative in nature as it includes various numerical facts and figures which will be
helpful to draw a conclusion using statistical tools and techniques. Therefore, the type of
study is descriptive.

SAMPLING DESIGN:

Target population-

At present in India there are 44 mutual fund companies are working. From these
company Equity funds are selected for the completion of the objective of the study.

Sampling method-

For selection of sample of Debt, Equity and Hybrid funds purposive sampling method is
used.

Sampling size-

From the purposive sampling method 10schemes of Equity fund are selected schemes.

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 CHAPTER : 7

Data Collection

This study is based on secondary data which is collected From various source like
published annual reports, journal, books, magazines, newspaper and other published and
online Material.

As we can see from this research, we surveyed 105 people response. Of these, 34.3%
people are job & 34.3% Business profession. 31.4% are students.

This Pie chart is mentioned in people income range

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(monthly) are 39.8 % people are bellow 10k , 32 % people incomerange are 10000 to
20000. And 12.6% income is 20000 to 30000, 8.7% people income is 30000 to 40000.

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6.8% peoples income range is highest in above RS.400

We are notice that 88.6% people are planning for investing money in Mutual funds and
only 11.4% people are not interested in investing money for Mutual funds.

After this survey 78.1% peoples are ready for invest in money in share market.

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After this surveywe notice that Equity plan is best on investment. 56.7% peoples are
invest in equity. And 25% Balanced plans &18.3% are income plans.

53.8% peoples are invest in money from 1 to 3 years.26.9% peoples invest in 4 to 6

years, 13.5% are 7 to 10 years And 5.8% peoples invest in more than 10 years.

21
After survey we notice that 54.4% peoples are choice to mutual fund is safest funds.

31.1% peoples are choice to stock market and 14.6% is Bank deposits

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After survey 71.8% peoples are choice to Open End scheme & only 28.2% peoples
choice to Closed End scheme.

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After survey notice that 36.5% peoples are rate in moderate risk, 25% of high , 22.1% of
Low and 16.3% peoples rate in good after taking knowledge.

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34% on lack of knowledge factors , 26.2% is bitter past experience, 23.3% on confidence
in service and 9.7% is difficulty & 6.8% is inefficient investment advisors.

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After this survey we notice that 38.2% peoples choice to mid-cap equity mutual funds.
34.3% peoples selected in small-cap equity mutual funds, 21.6% in large -and mi- cap
equity funds & 5.9% choice to multi-cap equity mutual funds.

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 CHAPTER : 8

Scope of study

The present study attempts to provide an idea into the performance of selected Equity and
mutual fund schemes. This study was undertaken with the motive to compare the funds
depending on the selected scheme. The study is concentrated on Equity fund of selected
schemes and their return for a period of five year

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 CHAPTER : 9

Limitation of the Study

The limitation of the study are as follows:

 The present study is limited to five years of selected Equity funds.

 Financial ratios like Treynor, Sharpe and Jenson measures are used to Analyze
risk and performance of selected funds although mutual fund is subject to market
risk.
 The study concentrated only on the equity mutual fund .
 Time constraint.
 Comparison of performance of selected funds only with the help of average
return.

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 CHAPTER : 10

REVIEW LITERATURE

A Comparative study on Evaluation Of Selected Mutual Funds in India. Mutual Funds

industry has grown up by Leaps & bounds, particularly during the last 2 decades of the
20th century. Proper assessment of fund performance would facilitate the peer comparison
Among investment managers, help average investors successfully identify Skilled
managers. Further the growing competition in the market forces the Fund managers to
work hard to satisfy investors & management. Therefore Regular performance evaluation
of mutual funds is essential for investors and Fund managers also. The present study is
confined to evaluate the Performance of mutual funds on the basis of yearly returns
compared with BSE Indices.

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 CHAPTER : 11

Industry Analysis

Definition:-

A mutual fund is an investment vehicle which allows investor with similar (one could say
mutual) investment objective, to pool their resource and thereby achieve economies of
scale and diversification in their investing.

History:-

A mutual fund is a financial intermediary that pool the saving of investors for collective
investment in a diversified portfolio of security. A fund is ‘mutual’ as all of its returns,
minus its expenses, are shared by the fund’s investors.

The security and exchange board of India ( equity mutual fund) regulations, 1996 defines
a mutual fund as a ‘a fund established in the form of a trust to raise money through the
sale of units to the public or a section of the public under one or more schemes for
investing in security, including money market instruments.’

A mutual fund serves as a link between the investor and the securities market by
mobilizing saving from the investors and investing them in the securities market
to generate returns. Thus a mutual fund is akin to portfolio management services
(PMS).although, both are conceptually same, they are different from each other.
Portfolio management services are offered to high net worth individuals; taking
into account their risk profile, their investments are managed separately. In the
case of mutual funds, saving of small investors are pooled under a scheme and the
return are distributed in the same proportion in which the investments are made
by the investors/unit-holders.

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Mutual fund is a collective saving scheme, mutual fund play an important role in
mobilizing the same for productive ventures in the Indian economy.
The history of mutual funds, dates back to 19th century Europe, in particular, great
Britain. Robert freming set up in 1868 the first investment trust called foreign and
colonial investment trust which promised to manage the finance of the moneyed
classes of Scotland by spreading the investment over a number of different stock.
This investment trust and other investment trusts which were subsequently set up
in Britain and the US, resembled today’s close-ended mutual funds. The first in
the US, Massachusetts investor’ trust was setup in march 1924. This was the first
open ended mutual fund.
The stock market crash in 1929, the great depression, and the outbreak of the
second war slackened the pace of growth of the mutual fund industry. Innovations
in products and services increased the popularity of mutual funds in the 1950s and
1960s. the first international stock mutual fund was introduced in the US in
1940.in 1976, the first tax exempt municipal bond funds was introduced in the US
in 1940. In 1976, the first international stock mutual fund was introduced in the
1979, the money market mutual fund were created.

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32
Top 10 Equity Mutual Funds in India

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1.Quant Tax Plan Direct-Growth

Quant Tax Plan Direct-Growth is a ELSS mutual fund scheme from Quant Mutual Fund.
This fund has been in existence for 9 yrs, having been launched on 01/01/2013. Quant
Tax Plan Direct-Growth has ₹658 Crores worth of assets under management (AUM) as
on 31/12/2021 and is small fund of its category. The fund has an expense ratio of 0.57%,
which is less than what most other ELSS funds charge.

Quant Tax Plan Direct-Growth returns of last 1-year are 60.18%. Since launch, it has
delivered 22.59% average annual returns. The fund has doubled the money invested in it
every 2 yrs.

Quant Tax Plan Direct-Growth scheme’s ability to deliver returns consistently is higher
than most funds of its category. Its ability to control losses in a falling market is high.

34
The fund has the majority of its money invested in Services, Construction, Financial,
FMCG, Metals sectors. It has taken less exposure in Services, Construction sectors
compared to other funds in the category.

The fund’s top 5 holdings are in ITC Ltd., Vedanta Ltd., Adani Enterprises Ltd., State
Bank of India, Reliance Industries Ltd..

Investment Objective-

The scheme aims to generate capital appreciation by investing predominantly in equity

shares with growth potential. The secondary objective is to give dividend and other
income

Current NAV of Quanta Tax Plant

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

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2.Quant Active Fund Direct-Growt

Quant Active Fund Direct-Growth is a Multi Cap mutual fund scheme from Quant
Mutual Fund. This fund has been in existence for 9 yrs, having been launched on
01/01/2013. Quant Active Fund Direct-Growth has ₹1,596 Crores worth of assets under
management (AUM) as on 31/12/2021 and is small fund of its category. The fund has an
expense ratio of 0.58%, which is less than what most other Multi Cap funds charge.

Quant Active Fund Direct-Growth returns of last 1-year are 55.50%. Since launch, it has
delivered 22.06% average annual returns. The fund has doubled the money invested in it
every 2 yrs.

Quant Active Fund Direct-Growth scheme’s ability to deliver returns consistently is in-
line with most funds of its category. Its ability to control losses in a falling market is
high.

The fund has the majority of its money invested in Financial, FMCG, Metals,
Construction, Services sectors. It has taken less exposure in Financial, FMCG sectors
compared to other funds in the category. The fund’s top 5 holdings are in Vedanta Ltd.,
ITC Ltd., State Bank of India, Reliance Industries Ltd., Fortis Healthcare (India) Ltd.

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.

Investment Objective-

The scheme aims at providing long term capital appreciation and generating income with
a diversified portfolio of Large Cap, Mid Cap and Small Cap companies.

Current NAV of Quanta Active fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Quant Active Fund for Jan 11, 2022 is 445.96.

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3.PGIM India Midcap Opportunities Fund Direct-Growth

PGIM India Midcap Opportunities Fund Direct-Growth is a Mid Cap mutual fund
scheme from PGIM India Mutual Fund. This fund has been in existence for 8 yrs 2 m,
having been launched on 11/11/2013. PGIM India Midcap Opportunities Fund Direct-
Growth has ₹4,070 Crores worth of assets under management (AUM) as on 31/12/2021
and is medium-sized fund of its category. The fund has an expense ratio of 0.32%, which
is less than what most other Mid Cap funds charge.

PGIM India Midcap Opportunities Fund Direct-Growth returns of last 1-year are 60.79%.
Since launch, it has delivered 22.01% average annual returns. The fund has doubled the
money invested in it every 2 yrs.

38
PGIM India Midcap Opportunities Fund Direct-Growth scheme’s ability to deliver
returns consistently is higher than most funds of its category. Its ability to control losses
in a falling market is high.

The fund has the majority of its money invested in Engineering, Technology, Healthcare,
Financial, Construction sectors. It has taken less exposure in Engineering, Technology
sectors compared to other funds in the category.

The fund’s top 5 holdings are in Mphasis Ltd., NIIT Technologies Ltd., ICICI Bank Ltd.,
JB Chemicals & Pharmaceuticals Ltd., ABB Ltd..

Investment Objective-

The scheme seeks to achieve long-term capital appreciation by predominantly investing

in equity & equity related instruments of mid cap companies

Current NPV of PGIM India Mid cap Opportunities fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of PGIM India Midcap Opportunities Fund for Jan 11, 2022 is 50.2

39
4.Axis Midcap Direct Plan-Growth

Axis Midcap Direct Plan-Growth is a Mid Cap mutual fund scheme from Axis Mutual
Fund. This fund has been in existence for 9 yrs, having been launched on 01/01/2013.
Axis Midcap Direct Plan-Growth has ₹16,835 Crores worth of assets under management
(AUM) as on 31/12/2021 and is medium-sized fund of its category. The fund has an
expense ratio of 0.46%, which is less than what most other Mid Cap funds charge.

The scheme seeks to achieve long term capital appreciation by investing predominantly
in equity & equity related instruments of Mid Cap companies.

40
Current NVA of Axis Midcap fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Axis Midcap Fund for Jan 11, 2022 is 79.

5. PGIM India Flexi Cap Fund Direct-Growth

India Flexi Cap Fund Direct-Growth is a Multi Cap mutual fund scheme from PGIM
India Mutual Fund. This fund has been in existence for 6 yrs 11 m, having been launched
on 11/02/2015. PGIM India Flexi Cap Fund Direct-Growth has ₹3,302 Crores worth of
assets under management (AUM) as on 31/12/2021 and is medium-sized fund of its
category. The fund has an expense ratio of 0.32%, which is less than what most other
Multi Cap funds charge.

41
PGIM India Flexi Cap Fund Direct-Growth returns of last 1-year are 42.53%. Since
launch, it has delivered 17.83% average annual returns. The fund has doubled the money
invested in it every 2 yrs.

PGIM India Flexi Cap Fund Direct-Growth scheme’s ability to deliver returns
consistently is higher than most funds of its category. Its ability to control losses in a
falling market is high.

The fund has the majority of its money invested in Technology, Financial, Construction,
Engineering, Healthcare sectors. It has taken less exposure in Technology, Financial
sectors compared to other funds in the category.

The fund’s top 5 holdings are in Infosys Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd.,
Axis Bank Ltd., Larsen & Toubro Infotech Ltd..

Investment Objective-

The scheme seeks to generate income & capital appreciation by predominantly investing
in an actively managed diversified portfolio of equity & equity related instruments
including derivatives.

Current NAV of PGIM India Flexi Cap Fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of PGIM India Flexi Cap Fund for Jan 11, 2022 is 30.83.

42
6.Parag Parikh Flexi Cap Fund Direct-Growth

Parag Parikh Flexi Cap Fund Direct-Growth is a Multi Cap mutual fund scheme from
PPFAS Mutual Fund. This fund has been in existence for 8 yrs 7 m, having been
launched on 13/05/2013. Parag Parikh Flexi Cap Fund Direct-Growth has ₹19,933 Crores
worth of assets under management (AUM) as on 31/12/2021 and is medium-sized fund of
its category. The fund has an expense ratio of 0.82%, which is close to what most other
Multi Cap funds charge.

43
Parag Parikh Flexi Cap Fund Direct-Growth returns of last 1-year are 43.89%. Since
launch, it has delivered 21.66% average annual returns. The fund has doubled the money
invested in it every 2 yrs.

Parag Parikh Flexi Cap Fund Direct-Growth scheme’s ability to deliver returns
consistently is in-line with most funds of its category. Its ability to control losses in a
falling market is high.

The fund has the majority of its money invested in Technology, Financial, Services,
FMCG, Automobile sectors. It has taken less exposure in Technology, Financial sectors
compared to other funds in the category.

The fund’s top 5 holdings are in Bajaj Holdings & Investment Ltd., Alphabet Inc Class
A, ITC Ltd., Microsoft Corporation (US), Amazon. Com Inc. (USA).

Investment Objective-

The scheme aims to achieve long-term capital appreciation by investing primarily in

equity and equity related instruments.

Current NAV of Parag Parikh Flexi Cap Fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Parag Parikh Flexi Cap Fund for Jan 11, 2022 is 54.32

44
7.Mirae Asset Tax Saver Fund Direct-Growth

Mirae Asset Tax Saver Fund Direct-Growth is a ELSS mutual fund scheme from Mirae
Asset Mutual Fund. This fund has been in existence for 6 yrs 1 m, having been launched
on 20/11/2015. Mirae Asset Tax Saver Fund Direct-Growth has ₹10,660 Crores worth of
assets under management (AUM) as on 31/12/2021 and is medium-sized fund of its
category. The fund has an expense ratio of 0.43%, which is less than what most other
ELSS funds charge.

Mirae Asset Tax Saver Fund Direct-Growth returns of last 1-year are 36.14%. Since
launch, it has delivered 23.20% average annual returns. The fund has doubled the money
invested in it every 2 yrs.

45
Mirae Asset Tax Saver Fund Direct-Growth scheme’s ability to deliver returns
consistently is higher than most funds of its category. Its ability to control losses in a
falling market is above average.

The fund has the majority of its money invested in Financial, Technology, Automobile,
Energy, Healthcare sectors. It has taken less exposure in Financial, Technology sectors
compared to other funds in the category.

The fund’s top 5 holdings are in HDFC Bank Ltd., Infosys Ltd., ICICI Bank Ltd.,
Reliance Industries Ltd., Axis Bank Ltd.

Investment Objective-

The scheme seeks to generate long-term capital appreciation from a diversified portfolio
of predominantly equity and equity related instruments.

Current NVA of Mirae Asset Tax Saver Fund?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Mirae Asset Tax Saver Fund for Jan 11, 2022 is 35.29.

46
8.Quant Mid Cap Fund Direct-Growth

Quant Mid Cap Fund Direct-Growth is a Mid Cap mutual fund scheme from Quant
Mutual Fund. This fund has been in existence for 9 yrs, having been launched on
01/01/2013. Quant Mid Cap Fund Direct-Growth has ₹248 Crores worth of assets under
management (AUM) as on 31/12/2021 and is small fund of its category. The fund has an
expense ratio of 0.57%, which is less than what most other Mid Cap funds charge.

Quant Mid Cap Fund Direct-Growth returns of last 1-year are 50.23%. Since launch, it
has delivered 17.29% average annual returns. The fund has doubled the money invested
in it every 2 yrs.

47
Quant Mid Cap Fund Direct-Growth scheme’s ability to deliver returns consistently is in-
line with most funds of its category. Its ability to control losses in a falling market is
high.

The fund has the majority of its money invested in Services, Financial, Chemicals,
Healthcare, FMCG sectors. It has taken less exposure in Services, Financial sectors
compared to other funds in the category.

The fund’s top 5 holdings are in Linde India Ltd., Tata Communications Ltd., ITC Ltd.,
Adani Ports and Special Economic Zone Ltd., Union Bank of India.

Investment Objective-

The scheme aims at providing long term capital appreciation and generating income with
a diversified portfolio of Mid Cap companies.

Current NVA of Quanta Mid Cap Funds?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Quant Mid Cap Fund for Jan 11, 2022 is 128.9

48
9.Mirae Asset Emerging Bluechip Fund Direct-Growth

Mirae Asset Emerging Bluechip Fund Direct-Growth is a Large &Mid Cap mutual fund
scheme from Mirae Asset Mutual Fund. This fund has been in existence for 9 yrs, having
been launched on 01/01/2013. Mirae Asset Emerging Bluechip Fund Direct-Growth has
₹21,972 Crores worth of assets under management (AUM) as on 31/12/2021 and is
medium-sized fund of its category. The fund has an expense ratio of 0.68%, which is less
than what most other Large &Mid Cap funds charge.

49
Mirae Asset Emerging Bluechip Fund Direct-Growth returns of last 1-year are 38.51%.
Since launch, it has delivered 25.58% average annual returns. The fund has doubled the
money invested in it every 2 yrs.

Mirae Asset Emerging Bluechip Fund Direct-Growth scheme’s ability to deliver returns
consistently is higher than most funds of its category. Its ability to control losses in a
falling market is above average.

The fund has the majority of its money invested in Financial, Technology, Healthcare,
Automobile, Energy sectors. It has taken less exposure in Financial, Technology sectors
compared to other funds in the category.

The fund’s top 5 holdings are in ICICI Bank Ltd., HDFC Bank Ltd., Infosys Ltd., Axis
Bank Ltd., State Bank of India.

Investment Objective-

To generate income and capital appreciation from a diversified portfolio predominantly

investing in Indian equities and equity related securities of large cap and midcap
companies at the time of investment.

Current NAV of Mirae Asset Emerging Bluechip Fund ?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of Mirae Asset Emerging Bluechip Fund for Jan 11, 2022 is 110.35.

50
10. UTI Flexi Cap Fund Direct-Growth

UTI Flexi Cap Fund Direct-Growth is a Multi Cap mutual fund scheme from UTI Mutual
Fund. This fund has been in existence for 9 yrs, having been launched on 01/01/2013.
UTI Flexi Cap Fund Direct-Growth has ₹25,541 Crores worth of assets under
management (AUM) as on 31/12/2021 and is medium-sized fund of its category. The
fund has an expense ratio of 1.0%, which is higher than what most other Multi Cap funds
charge.
51
UTI Flexi Cap Fund Direct-Growth returns of last 1-year are 31.65%. Since launch, it has
delivered 18.20% average annual returns. The fund has doubled the money invested in it
every 2 yrs.

UTI Flexi Cap Fund Direct-Growth scheme’s ability to deliver returns consistently is
higher than most funds of its category.

The fund’s top 5 holdings are in Larsen & Toubro Infotech Ltd., Bajaj Finance Ltd.,
HDFC Bank Ltd., Infosys Ltd., Kotak Mahindra Bank Ltd..

Investment Objective-

The scheme seeks to generate long term capital appreciation by investing predominantly
in equity and equity related securities of companies across the market capitalization
spectrum

Current NAV of UTI Flexi Cap Fund ?

NAV or Net Asset Value is the per-unit price of the Mutual Fund. The NAV of a Mutual
Fund changes every day. It is calculated by taking the current value of the holdings of the
fund at end of the day, subtracting the expenses, and dividing the value by the number of
units issued to date.

The NAV of UTI Flexi Cap Fund for Jan 11, 2022 is 286.76.

52
 Top Equity Mutual Fund Returns

NAME OF EQUITY FUND FUND SINCE 5 YER 3 YER 1 YER

MANAGER INCEPTION
Quant Tax Plan Direct Growth Ankit Pande 22.59% 27.06% 38% 60.04%

Quant Active Fund Direct Ankit pande 22.06% 27.02% 34.73 56.38%
Growth
PGIM India Midcap Aniruddh Naha 22% 25.03% 39.94% 59.38%
opportunities fund Direct
Growth
Axis Midcap Direct plan- Viresh Joshi 21.47% 25.15% 28.86% 39.37%
growth
PGIM Indian Flexi cap fund Aniruddh Naha 17.89% 23.92% 33.18% 42.74%

Parag Parikh flexi Cap fund Raj Mehta 21.66% 23.74% 30.92% 44.36%
Direct Growth Rajeev Thakare
Mirae Asset Tax Saver Fund NeeleshSurana 23.14% 23.09% 27.09% 35.16%
Direct Growth
Quant Mid Cap Fund Direct Ankit Pande 17.28% 23.57% 30.98% 50.79%
Growth
Mirae Asset Emerging Bluechip Ankit Jain 25.57% 23.36% 28.12% 37.51%
Fund Direct Growth
UTI Flexi Cap Fund Direct Ajay Tyagi 18.18% 22.24% 27.68% 31.08%
Growth

53
 CHAPTER : 12

Company analysis

What is a Mutual Fund?

A Mutual Fund is a popular financial investment vehicle in India today. It accumulates

money from a group of investors and invests the corpus in a wide variety of financial
asset classes like Debt, Equity, Precious metal, Forex, etc. The value of the Mutual Funds
is correlated to the performance of its composite assets.

In a Mutual Fund investment, when you buy a ‘Unit’, you invest in a section of the fund
portfolio’s value. The price of a Mutual Fund is expressed as Net Asset Value (NAV). It
is calculated by dividing the current value of assets in the fund’s portfolio by the total
number of units owned by all the investors. You can purchase or redeem Mutual Fund
shares, as per your requirement at your fund’s current NAV. It is declared at the end of
each trading day.

ICICI Bank Limited is an “AMFI - Registered Mutual Fund Distributor”

Several reasons have contributed to the rising popularity of Mutual Funds in India such
as, professional fund management, diversification, tax benefits, being some of them.
Mutual Funds are highly scalable options, allowing you to begin an investment journey

54
with as low as Rs 100. Moreover, they are professionally handled by experienced Fund
Managers, enabling even those with no market knowledge, to have a shot at financial
investment.

Further, the adoption of digital platforms by fund businesses has revoluations value
delivery. Now you can search for the Mutual Funds to invest as per your risk appetite,
know about Mutual Fund returns and invest in Mutual Funds online.

ICICI Prudential MF, the second largest MF by equity exposure, increased its stake in

Coal India
, HDFC and Maruti Suzuki India, while offloading shares of Lupin, Infosys and M&M
Financial Services.

Mutual funds dumped ICICI bank, Axis bank in April, bought CIL, IPCA Labs

55
56
57
58
Tata Consultancy Services

59
TCS
NSE 0.12 %) is expected to report a sequential bounce back in the September 2021
quarter after a slack in the previous quarter due to disruption in Indian operations. With
lower Covid caseload, rising vaccination, and business returning to normalcy, its India
business is likely to be back on growth track. In addition, traction in its overseas
operations remains intact with a sustained deal momentum. The country’

60
Sensex's rise from 20K to 40K: 5 lessons for equity mutual fund in wipro

The Sensex has scaled the 40,000 mark but mutual fund investors are not particularly
enthused. There is good reason for their lack of cheer: most equity mutual fund schemes
are at significantly lower levels compared to their previous peaks. In fact, the current
rally is happening only in large-caps and the mid- and small-cap fund returns (category
average) have actually fallen 3% and 8% respectively over the past year.

What has made matters worse is the concentrated nature of this rally. ..

Mutual funds with the best 20-year track record

Investors are often told by their advisors that equity mutual fund schemes give good
returns in the long run. And most of them do. Any long-term disciplined investor will

61
vouch for that. Hence, it will be interesting to see how equity mutual funds, which have
been around for more than 20 years, have fared since their inception in comparison with
their benchmarks. Sifting through the data provided by Value Research, ET Intelligence
Group discovered that of the 30 such equity schemes, 15 funds.

62
20 year record Indian company in equity mutual fund

63
 CHAPTER : 13

Bibliography

• Journal

• AMFI Text Book

• Website :

https://www.ascent-online.com

www.amfiindia.com

www.mutualfundsindia.com

www.mutualfundanalysis.com

www.investsmartindia.com

www.personalfn.com

64
 CHAPTER : 14

Conclusion

Mutual Funds now represent perhaps most appropriate investment opportunity for most
investors. As financial markets become more sophisticated and complex, investors need
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 these 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 there 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 helped grow these investments.

65
 CHAPTER : 15

ANNEXURE

QUESTIONNAIRE:

Dear Sir/Madam,

I am Hrishikesh B. Gurgude a student of “Zeal College of Engineering& Research”

ZCOER – MBA Program, Final year MBA (Finance) doing a project in Arthayan
Bizfinmart Pvt.Ltd. which is An important part of my curriculum.

The topic of my project is COMPARATIVE ANALYSIS OF EQUITY MUTUAL

FUND I need some important information from you for the completion of my project.
Would you please spare sometime to answer my queries. I assure you that your answers
will be Kept confidential and will be used for the academic purpose only.

1. Name of the responding ……………………………………………….......

2. Address and phone no………………………………………………………

………………………………………………………………………………………
..

3. Age group.

21-30( ). 31-45. ( ). 45-60. ( )

66
4. What kind of investment options you prefer?

A) Fixed Deposit. ()
B) Mutual Fund. ( )
C) Insurance ()
D) Other. ()

5. Why you prefer the available option ?

A) Less Risk ( )
B) Good Returns. ()
C) Liquidity. ()
D) Assured Returns. ()

6. Are you an investor in Equity mutual fund?

A) Yes. ()

B) No. ()

7. If answer is No, why you are not investing in Equity mutual fund ?

A) Awareness ()
B) Risky. ()

67
 C) Returns not assured. ()

8. If answer is yes, why do you prefer Equity mutual fund?

A) Less risky. ()
B) Professional mgt. ()
C) Fast appreciation ( )

9. kind of mutual fund you prefer?

A) Open. ()

B) Closed-ended. ()

D) Both ( )

10. Trade option Preferred by investor

A) Long term. ()

B) Short term. ()

C) Medium term. ()

11. What is your basic motive/objective behind trading in Mutual Fund?

A) For diversified the portfolio. ( )

E) For Higher return. ()

F) Monthly income. ()
G) Tax benefit. ()

68