A STUDY ON PERFORMANCE EVALUATION OF

MUTUAL FUNDS AT SHAREKHAN

A Project Work submitted to the Jawaharlal Nehru Technological University,
Kakinada
In Partial Fulfillment of the requirement for the Award of the degree of
MASTER OF BUSINESS ADMINISTRATION

Submittedby

SK.ALTHAB

REGD NO: 22KQ1E0054

Under the esteemed guidance of

SK.AJAD,MBA

ASSISTANTPROFESSOR

SRINIVASAEDUCATIONALSOCIETY’S

PACE INSTITUTE OF TECHNOLOGY & SCIENCES (AUTONOMOUS)

Approved by AICTE,a ccredited byNBA &NAAC( AGrade),Recognizedunder2
(f)&12(B) of UGC Permanently Affiliated to JNTUK, KAKINADA,A.P.,
AnISO9001:2008CertifiedInstitution

NH-16, Near Valluramma Temple, ONGOLE-523272,

ANDHRAPRADESH

2022-2024
 SRINIVASAEDUCATIONALSOCIETY’S

PACE INSTITUTE OF TECHNOLOGY &SCIENCES

(AUTONOMOUS)

Approved by AICTE, Accredited by NAAC (A Grade), Recognized

under2(f)&12(B)of UGC Permanently Affiliated to JNTUK,
KAKINADA,A.P., An ISO 9001:2008 Certified Institution NH-
16,Near Valluramma Temple, ONGOLE-523272,
ANDHRAPRADESH

CERTIFICATE

This is to certify that the project entitled “PERFORMANCE EVALUATION OF

MUTUAL FUNDS” is the bonafide work carried out by SK ALTHAB Regd.No. 22KQ1E0054

in partial fulfillment of the requirement for the award of Degree of Master of Business

Administration.

PROJECTGUIDE HEADOFTHEDEPARTMENT

EXTERNALEXAMINER
 DECLARATION

I hereby declare that the project entitled “PERFORMANCE EVALUATION OF

MUTUAL FUNDS” submitted by me under the guidance of SK.AJAD ,MBA,

ASSISTANT PROFESSOR Department of MBA, PACE ITS,Ongole in partial fulfillment

of the award of the degree of Master of Business Administration, is the original work done by

me and I have not submitted earlier in part or full to any other university for any other degree

or diploma.

SK.ALTHAB

Regd. No. 22KE1E0054

 ACKNOWLEDGEMENT

I would like to express a deep sense of gratitude and thank profusely SK.AJAD

,ASSISTANT PROFESSOR, without whose counsel and able guidance, it would have been

impossib le to complete the project in this manner.

I express my deep sense of gratitude to Dr. T. MARY JONES, Head of the Department of

MBA, for her continuous monitoring and supporting the successful completion of the project

work. I also express my gratitude to Dr. G.V.K. MURTHY, Principal of our college, for his

guidance and co-operation during my course of study.

IextendmysincerethankstoDr.M.Sridhar,Secretary&Correspondentofourcollege, for providing

sufficient infrastructure and good environment in the college to complete my course.

I am highly thankful to the authority of SHARE KHAN PVT LTD for their kind permission to

undertake the present study as well as extending help in collecting the data. I express my

gratefulness to the company executives, supervisors and employees for sparing their valuable time

and courtesy during the period of study. Great acknowledgment is expressed to Coordinator,

Teaching and Non- teaching staff members whose guidance cannot be ignored in completing this

project in time.

Special Thanks to my friends, for their co-operation during the course of the Study Also, I wish to

thank my parents and family members without whom it is impossible for me to stay at this level.

SK ALTHAB

22KQ1E0054
 Table of Contents

Chapter No. Chapter Name Page No.

Chapter I INTRODUCTION
 Need for the study
 Scope of the study
 Objectives of the study
 Research Methodology
 Limitations of the study

Chapter II INDUSTRY PROFILE &

COMPANY PROFILE

Chapter III THEORETICAL FRAMEWORK

Chapter IV DATA ANALYSIS AND

INTERPRETATION

Chapter V SUMMARY AND SUGGESTIONS

Annexure Bibliography
UNIT-1
INTRODUCTION:

A mutual fund is a professionally managed investment fund that pools money from many
investors to purchase securities. The term is typically used in the United States, Canada, and India,
while similar structures across the globe include the SICAV in Europe ('investment company with
variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often
classified by their principal investments: money market funds, bond or fixed income funds, stock or
equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively
managed funds that track the performance of an index, such as a stock market index or bond market
index, or actively managed funds, which seek to outperform stock market indices but generally
charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit
investment trusts.Open-end funds are purchased from or sold to the issuer at the net asset value of
each share as of the close of the trading day in which the order was placed, as long as the order was
placed within a specified period before the close of trading. They can be traded directly with the
issuer. Mutual funds have advantages and disadvantages compared to direct investing in individual
securities. The advantages of mutual funds include economies of scale, diversification, liquidity, and
professional management. However, these come with mutual fund fees and expenses. Mutual funds
are regulated by governmental bodies and are required to publish information including
performance, comparison of performance to benchmarks, fees charged, and securities held. A single
mutual fund may have several share classes by which larger investors pay lower fees.

A mutual fund is a financial intermediary in capital market that pools collective investments
in form of units from retail and corporate investors and maintain a portfolio of various schemes
which invest that collective investments in equity and debt instruments on behalf of these investors.
Mutual fund is expert entity which helps an investor invest in equity and debt instruments indirectly
rather than taking risk of investing money directly in these instruments. An ordinary investor has no
expertise or knowledge to invest money directly into equity market in India and most of the times
investors lose their money due to wrong selection of equity shares, or bonds. Hence, mutual funds as
intermediary provide expertise of portfolio management actively and diversify risk by spreading
investments from all investors in various equity shares and debt instruments. This helps investors
earn good returns at low risk compared to returns at high risk if investors invest on their own directly
in capital market.

A mutual fund is a collective reservoir or pool of funds which is managed by a qualified and
expert Fund Manager. It is a trust that takes funds from a number of investors who have a common
investment goal and invests those funds in equities, bonds, money market instruments and other
securities. The income generated from this combined portfolio is distributed proportionately amongst
the investors after subtracting relevant expenses and levies, by calculating a scheme‟s „Net Asset
Value‟ or NAV. Simply placed, the money pooled in by a large number of investors are allotted in
units by a mutual fund scheme. This pooled money invested in equity or bonds or short term
securities shall grow or go down depending upon the performance of these investments. This shall
get reflected in the value of NAV.

Mutual funds are perfect for investors who either lack large sums for investment, or for those
who neither have the knowledge nor the time to research the market, yet want to grow their wealth.
In return, the fund house charges a small fee for their professional expertise which is subtracted from
the investment. The fees charged by mutual funds are restricted to certain limits stated by the
Securities and Exchange Board of India (SEBI).During the past few years mutual funds have
achieved a favoured status when investors have been investing regularly in equity/balanced schemes
through them.

The mutual fund is structured around a fairly simple concept, the mitigation of risk through
the spreading of investments across multiple entities, which is achieved by the pooling of a number
of small investments into a large bucket. Yet, it has been the subject of perhaps the most elaborate
and prolonged regulatory effort in the history of the country. The mutual fund industry has grown to
gigantic proportions in countries like the USA, in India it is still in the phase of infancy.

The origin of the Indian mutual fund industry can be traced back to 1964 when the Indian
Government, with a view to augment small savings within the country and to channel of these
savings to the capital markets, set up the Unit Trust of India (UTI). The UTI was setup under a
specific statute, the Unit Trust of India Act, 1963. The Unit Trust of India launched its first open-
ended equity scheme called Unit 64 in the year 1964, which turned out to be one of the most popular
mutual fund schemes in the country. In 1987, the government permitted other public sector banks
and insurance companies to promote mutual fund schemes. Pursuant to this relaxation, six public
 sector banks and two insurance companies VIZ. Life Insurance Corporation of India and General
Insurance Corporation of India launched mutual fund schemes in the country.

Securities Exchange Board of India, better known as SEBI, formulated the Mutual Fund
(Regulation) 1993, which for the first time established a comprehensive regulatory framework for
the mutual fund industry. This proved to be a boon for the mutual fund industry and since then
several mutual funds have been set up by the private sector as well as the joint sector. Kothari
Pioneer Mutual fund became the first from the private sector to establish a mutual fund in
association with a foreign fund. Since then several private sector companies have established their
own funds in the country, making mutual fund industry one of the most followed sector by critics
and investors alike. The share of private sector mutual funds too has gone up rapidly.

In the period between 1963 and 1988, when the UTI was the sole player in the industry, the assets
under management grew to about Rs.67 billion. In the second phase between 1988-1994, when
public sector banks and insurance companies were allowed to launch mutual fund schemes, the total
assets in the mutual fund industry grew to about Rs. 610 billion with the total number of schemes
increasing to 167 by the end of 1994. The third phase of the mutual fund industry, which
commenced in 1994, witnessed exponential growth of the industry, with the advent of private
players therein. As on May 31, 2004, the total assets under management stood at Rs. 1540 billion
and the total number of schemes stood at 399.

REVIEW OF LITERATURE
Raju and Rao (2008) in their paper evaluated the performance of selected Indian mutual fund schemes
in terms of five performance measures (a) Sharpe ratio (b) Treyn or ratio (c) Jensenmeasure (d)Sharpe
differential return measure( e) Fama‟s components of investment performance usi ng ad just monthly NAV
of 60 schemes from10mutual funds for the five- yearperiod,thatis,fromApril2000toMarch2005.Two
Benchmark Portfolios(a) Market Index(b) Set of Fun dex‟s was used for this purpose. Monthly yield on
91-days Treasury Bills was used as a surrogate for risk free rate of return. An analysis of risk and return
characteristics for the selected mutual fund schemes revealed that they were not in conformity with the risk
involved in them and their stated objectives. Growth schemes earned on an average, a return of 2.072 per
cent per month withan average risk of 14.86percent,where as the income schemes earned an average return
of 0.697percent per
month with an average risk of 3.52 per cent. The study indicated that performance of income
schemes was much better than that of growth schemes. While comparing performance
ofschemeswithsystematicriskmeasuredintermsofbetaitwasevidentthatasmanyas54schemesweredefens
ive(includinggrowthschemes).Theaveragediversificationwas29.77percentwhichimpliedthat samples
schemes were not adequately diversified.

A comparison of the results pertaining to Sharpe and Treynor ratios revealed some
conflicting results due to the fact that Sharpe ratio takes into account the total risk of the portfolio
where as the Treynor‟s ratio considers only market risk. In terms ofJensen‟smeasure,39 schemes had
positive alpha values indicating superior performance. Results of Sharpe differential returns
indicated that37 schemesshowed negative differential returns indicating that these could not
generate return commensuratewith the risk assumed due to their poor diversification. As per
Fama‟s component of performancedefinite relationship could be observed between schemes betas
and their returns. The authorssuggested that manager of the schemes should redesign the
investment pattern by identifying thelikely phases in the market well in advance and emerging
stocks on a continuous basis. They shouldadopt an active approach to portfolio construction rather
than a passive approach.
Deb (2008) studied return-based style analysis of equity mutual funds in India and analyzed
theirrelativeperformancewithrespecttostylebenchmark.Thestudywasbasedon96schemes

Belonging two group-ELSS Group(23Schemes)and Growth Group(73Schemes). It covered the

period from January 2000 to June 2005. The results revealed that Indian equity fund managers were
not able to beat their style benchmark on the average. Though all the funds in the sample were
equity schemes, the fixed income assets class was an important component of their style exposure.
Most important components of style exposure were the mid-cap stocks.

Chavali and Jain (2009) in their study analyzed the performance of 16 equity linked saving
schemes by using Sharpe ratio, Standard deviation, Beta, Alpha, R-Squared Cluster analysis and
multi- Variate analysis. They also studied the awareness level of investors based on survey of
75salaried class respondents in Delhi. The results revealed all the equity linked saving schemes had
different risk and return parameters. On the basis of comparison of selected funds, the researcher
recommended investment in SBI Magnum Tax Gain Scheme. The study further revealed that 85per
cent of the respondents were aware of mutual funds. Surprisingly a large number of investors
investing in equity linked saving schemes were not aware about benefits attached with the schemes.
Miglani (2010) in his study examined the growth and development of mutual fund industry inIndia
and evaluated the performance of selected mutual fund schemes. He also tested the market timing
abilities of mutual fund managers. The study was based on mutual fund schemes both from public c
and private sector covering period from1April 1999toMarch 31,2004.For evaluating the performance
of mutual fund schemes, data was analyzed by using Rate of Return,Sharpe measure,Treynor
measure, Jensen differential return measure, Sharpe differential return measure and appraisal
measure.
Vyas and Monat (2012) studied the perception and behavior of mutual fund investors in Indore,
Madhya Pradesh. The study was based on 363 mutual fund investors. The results revealed that most
of the respondents invested in equity options with a time span of one to three years. Though73 per
cent of the investors were aware about the risk associated with mutual funds yet only
.

53 percent investors analyzed therisk. Lumpsum investment was the most preferred mode followed
by SIP.Gold was the most important option among investors and mutual funds ranked 6th in
this regard.Further mutual fundsgotanaveragescoreonallparameterslikesafety,liquidity,reliability,tax
benefits and high returns.
Vijayakumar, Muruganandanand Rao(2012)in their study examined the relationship between
fund performance and fund characteristics using14open-ended funds of fund from 2004to2008.The
fund performance was measured by fund returns computed on the basis of daily NAV.The
fund characteristics variables employed as explanatory variable in the estimation included standard
deviation as a measure of risk, turnover ratio, income ratio, fund size measured by average
netassetsandexpensesratio.Threemethodsofpaneldatamodel,namely,commonconstantmethod,FEMan
dREMwereused.Thestudyfoundastrongpositiverelationshipbetweenfundperformance and fund
riskiness proxies by standard deviation of return, fund size and expenses ratio. There was
negativerelationship between fund performance and turnover ratio. It was observed that fund
managereffectively managed large-size funds.

Gill and Arshdeep (2012) in their study investigated the selectivity and market timing ability
of mutual fund managers in India by using the Jensen, Treynor and Mazuy and Henriksson and
Merton models for the period 2002-06.The study was based on a sample of 97open ended mutual
fund schemes consisting of56 growth schemes and 41schemes of dividend option. The empirical
evidence revealed that fund managers of some of the selected mutual fund schemes were engaged in
micro forecasting or stock selection, as the value of alpha in case of 31scheme of growth option and
17 schemes of thedividend option in terms of Jensen measure; 34 schemes of thegrowth
option and 22 schemes of the dividend option in case of TM model; and 33schemes of the growth
option and 24 schemes of the dividend option in terms of HM model, were positive and statistically
significant.
However, none of the fund managers of the selected schemes were successful in exhibiting
significantly positive value of gamma estimates indicating that fund managers lacked market timing
skills. The results suggested that mutual fund managers in India were not seriously engaged in any
market timing activities and relied only on stock selection skills. In addition, managers of a few
schemes were timing the market but in wrong direction. The results reported in the study were
consistent with that of prior research studies on mutual funds.
 RESEARCH METHODLOGY:

 A research plan is an approach and set of methods for collecting information that will be used to
develop a solution to an issue or create something novel. What data must be acquired, where it must
be gathered from, and how it must be gathered is all laid out in the project's underlying operation or
framework?
 The primary purpose of the study should be used to categorise research designs into the broad
categories of exploratory, descriptive, and causal.
 In all subject areas, students conduct their own independent experiments to learn more.
 Although descriptive data is often helpful for predicting, the justification for the forecast is typically
selected. Investigating the connection between these variables and the desired result would be
fascinating.

DATA COLLECTION:

As far as I can tell, there are two primary ways to obtain data:

Primary data:

For the purposes of this article, primary data is data collected through primary means (i.e., not
compiled from secondary sources).

Secondary data:

 It is vital to make use of resources that already hold all of the required information in order to
acquire this data. The research has already been completed, and all of this information is organised
and available. Numerous surveys were undertaken by the group to get this data.
 We consulted marketing materials such as pamphlets, periodicals, and websites to learn more. When
all necessary information was gathered, it was organised for thorough review, and conclusions were
drawn about the project as a whole.

Statistical Tool: MS-Excel

15
NEED OF THE STUDY

 Smart, practical, and strategic investment instrument

 Professionally managed by qualified and experienced fund managers

 Risk mitigation through investments done in a diverse portfolio of securities

 More liquid than other investment options in deposits, shares, and bonds

 Relatively lower expenses and fees regardless of the fund‟s performance

 Consistent in performance over a short, medium to long term period

 Highly flexible in terms of financial objectives, liquidity, and tenures

 Ample choice of investment catering to varied investor needs

 Ease of trading and transacting the units on all the working days

16
Objectives of Study:

1. To understand the investments of selected mutual fund schemes of mutual funds.

2. To analyse and decide the better investment technique is either

SIP or one-time investment.

3. To measure the risk in fluctuations of NAV (Net Asset Value).

4. To evaluate the performance of investment of SIP and one-time investment in

mutual funds.

5. To give suggestions based on cumulative and annual returns by

using NAV.

17
 UNIT-2

COMPANY AND INDUSTRY PROFILE

18
Karvy Fintech Pvt. Ltd. (KFPL) (Formerly known as KCPL Advisory Services Pvt. Ltd.)is the largest
registrar and a market leader, servicing over 90 million investor accounts spread over 1300 issuers including
banks, PSUs and mutual funds. With a workforce of around 5,500+ experienced professionals drawn from
various disciplines, and 460branches pan India, Karvy Fintech has emerged as a market leader in Investor
Servicing. Karvy Fintech has set new benchmarks in Investor Servicing by establishing higher performance
standards and enhanced its Service Delivery through structured and custom built training and development
initiatives .KFPL created leadership positions in the areas of Issuer & Corporate Services, Investment
Management Services (MF & Corporate Registry, AIFs, REITs, Inv ITs, Global Mutual Funds in Malaysia
& Philippines, Broker back-office Services, Insurance Back-Office Services, Global Business
Services).KFPLis the first organization, in its line of business, to achieve the distinction of receiving an ISO
9002 certification and have now migrated to ISO 9001:2008 standards, for quality management systems,
certified by DNV. We have also been awarded ISO27001:2013 certification by DNV, for our high standards
with respect to information security and management systems.

TYPES OF FINANCIAL PRODUCTS

The number of financial products and services in India has increased multifold. It

requires a lot of patience and skill to pick up the best suited option from this huge list of

financial products available with us. Here are some of them:

MUTUAL FUNDS

A mutual fund is a professionally managed type of collective investment scheme that pools money from
many investors and invests it in stocks, bonds, short-term money market instruments, and/or other
securities. By investing in Mutual Funds, one can have benefit of diversification. Since they are
managed by professionals, one need not track the markets regularly. It is regulated by SEBI, so the
investor interests are also protected. It also offers flexibility of choosing the products from various
categories like Equity, Gold, Debt and Money Markets. Most schemes being open ended, they also offer

19
liquidity. One can invest in Mutual Funds either in Lump-sum (at one go) or through Systematic Manner
(SIP).
NPS

National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed
to enable the subscribers to make optimum decisions regarding their future through systematic savings
during their working life. NPS seeks to inculcate thehabit of saving for retirement amongst the citizens.
CORPORATE FIXED DEPOSITS

There are various companies which offer Fixed Deposits and the rates on offer are generally higher

than the rates offered by Banks. These instruments can be considered based on their rating, interest

rates and the cash flows. The corporate fixed deposits are available for various tenures with Interest

being paid Monthly, Quarterly, Half Yearly, Annually or at Maturity. Investors looking at regular cash

flows and interested in fixedrate of interest can invest in these deposits.

CAPITAL GAIN BONDS

Capital gain bonds are another type of bonds available, where any person can avail exemption in respect

of long-term capital gains (arising from the sale of long term capital asset other than equity shares and

securities) if the capital gain is invested in Capital Gain bonds u/s 54EC. The exemption will be the

amount of capital gain or the amount of investment made, whichever is less. Interest rate offered on these

bonds is around 6% perannum Karvy non-financial services

1. Data management services

20
2. International BPO

3.Alternate energy

4.Data analytics

5.Market resear

21
 INDUSTRY PROFILE
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. The history of mutual funds in India can be broadly

divided into four distinct phases them upon the trust's termination. Less commonly, they can sell their shares

in the open market. Unlike other types of mutual funds, unit investment trusts do not have a professional

investment manager. Their portfolio of securities is established at the creation of the UIT.In the United

States, at the end of 2016, there were 5,103 UITs with combined assets of less than $0.1 trillion.

Exchange-traded funds:

Exchange-traded funds (ETFs) are structured as open-end investment companies or UITs. ETFs combine

characteristics of both closed-end funds and open-end funds. ETFs are traded throughout the day on a

stock exchange. An arbitrage mechanism is used to keep the trading price close to net asset value of the

ETF holdings. In the United States, at the end of 2016, there were 1,716 ETFs in the United States with

combined assets of $2.5 trillion, accounting for 13% of the U.S. industry.

Classification of funds by underlying investments

Mutual funds are normally classified by their principal investments, as described in the prospectus and

investment objective. The four main categories of funds are money market funds, bond or fixed income

funds, stock or equity funds, and hybrid funds. Within these categories, funds may be sub-classified by

investment objective, investment approach or specific focus. The types of securities that a particular fund

may invest in are set forth in the fund's prospectus, a legal document which describes the fund's

investment objective, investment approach and permitted investments. The investment objective describes

thetype of income that the fund seeks. For example, a capital appreciation fund generally

22
looks to earn most of its returns from increases in the prices of the securities it holds, rather than from

dividend or interest income. The investment approach describes the criteria that the fund manager uses to

select investments for the fund. Bond, stock, and hybrid funds may be classified as either index (or

passively-managed)funds or actively managed funds.

Money market funds

Money market funds invest in money market instruments, which are fixed income securities with a very

short time to maturity and high credit quality. Investors often use money market funds as a substitute for

bank savings accounts, though money market funds are not insured by the government, unlike bank savings

accounts. In the United States, money market funds sold to retail investors and those investing in

government securities may maintain a stable net asset value of $1 per share, when they comply with certain

conditions. Money market funds sold to institutional investors that invest in non-government securities must

compute a net asset value based on the value of the securities held in the funds. In the United States, at the

end of 2016, assets in money market funds were $2.7 trillion,representing 14% of the industry.[18]

Bond funds:

Bond funds invest in fixed income or debt securities. Bond funds can be sub-classified

according to:

• The specific types of bonds owned (such as high-yield or junk bonds, investment-

grade corporate bonds, government bonds or municipal bonds)

• The maturity of the bonds held (i.e., short-, intermediate- or long-term)

• The country of issuance of the bonds (such as U.S., emerging market or global)

• The tax treatment of the interest received (taxable or tax-exempt)

In the United States, at the end of 2016, assets in bond funds were $4.1 trillion,representing 22% of the

industry.

23
Stock funds

Stock or equity funds invest in common stocks. Stock funds may focus on a particular

area of the stock market, such as

• Stocks from only a certain industry

• Stocks from a specified country or region

• Stocks of companies experiencing strong growth

• Stocks that the portfolio managers deem to be a good value relative to the valueof the company's

business

• Stocks paying high dividends that provide income

• Stocks within a certain market capitalization range

In the United States, at the end of 2016, assets in Stock funds were $10.6 trillion,representing 56% of the

industry.

Hybrid funds

Hybrid funds invest in both bonds and stocks or in convertible securities. Balanced funds, asset allocation

funds, target date or target risk funds, and lifecycle or lifestylefunds are all types of hybrid funds.

Hybrid funds may be structured as funds of funds, meaning that they invest by buyingshares in other mutual

funds that invest in securities. Many funds of funds invest in affiliated funds (meaning mutual funds

managed by the same fund sponsor), although some invest in unaffiliated funds (i.e., managed by other fund

sponsors) or some combination of the two. In the United States, at the end of 2016, assets in hybrid funds

were $1.4 trillion,representing 7% of the industry.[18]

Other funds

Funds may invest in commodities or other investments too.

Investors in a mutual fund pay the fund's expenses. Some of these expenses reduce the value of an investor's

24
account; others are paid by the fund and reduce net asset value. These expenses fall into five categories:

Management fee

The management fee is paid by the fund to the management company or sponsor that organizes the fund,

provides the portfolio management or investment advisory services and normally lends its brand to the fund.

The fund manager may also provide other administrative services. The management fee often has breakpoints,

which means that it declines as assets (in either the specific fund or in the fund family as a whole) increase.

The fund's board reviews the management fee annually. Fund shareholders must vote on any proposed

increase, but the fund manager or sponsor can agree to waive some or all of the management fee in order to

lower the fund's expense ratio. Index funds generally charge a lower management fee than actively-managed

funds.

Distribution charges
Distribution charges pay for marketing, distribution of the fund's shares as well as services to investors. There

are three types of distribution charges.

• Front-end load or sales charge. A front-end load or sales charge is

a commission paid to a broker by a mutual fund when shares are purchased. It is expressed as a percentage of

the total amount invested or the "public offering price", which equals the net asset value plus the front-end load

per share. The front-end load often declines as the amount invested increases, through breakpoints. The front-

endload is paid by the investor; it is deducted from the amount invested.

• Back-end load. Some funds have a back-end load, which is paid by the investor when shares are redeemed.

If the back-end load declines the longer the investor holds shares, it is called a contingent deferred sales

charges (CDSC). Like the front-end load, the back-end load is paid by the investor; it is deducted from the

redemption proceeds.

• Distribution and services fee. Some funds charge an annual fee to compensate the distributor of fund

shares for providing ongoing services to fund shareholders. In the United States, this fee is sometimes called

25
a 12b-1 fee, after the SEC rule authorizing it. The distribution and services fee are paid by the fund and

reduces net asset value. Distribution charges generally vary for each share class.

Securities transaction fees incurred by the fund

A mutual fund pays expenses related to buying or selling the securities in its portfolio. These expenses may

include brokerage commissions. These costs are normally positivelycorrelated with turnover.

Shareholder transaction fees

Shareholders may be required to pay fees for certain transactions, such as buying or selling shares of the

fund. For example, a fund may charge a flat fee for maintaining an individual retirement account for an

investor. Some funds charge redemption fees when an investor sells fund shares shortly after buying them

(usually defined as within 30, 60 or 90 days of purchase). Redemption fees are computed as a percentage of

the sale amount. Shareholder transaction fees are not part of the expense ratio.

Fund services charges

A mutual fund may pay for other services including:
• Board of directors or trustees fees and expenses
• Custody fee: paid to a custodian bank for holding the fund's portfolio in safe keeping and collecting
income owed on the securities
• Fund administration fee: for overseeing all administrative affairs such as preparing financial statements
and shareholder reports, SEC filings, monitoringcompliance, computing total returns and other
performance information, preparing/filing tax returns and all expenses of maintaining compliance with
state blue sky laws
• Fund accounting fee: for performing investment or securities accounting servicesand computing the net
asset value (usually every day the New York Stock Exchange is open)
• Professional services fees: legal and auditing fees
• Registration fees: paid to the SEC and state securities regulators
• Shareholder communications expenses: printing and mailing required documentsto shareholders such
as shareholder reports and prospectuses
• Transfer agent service fees and expenses: for keeping shareholder records, providing statements and
tax forms to investors and providing telephone, internet andor other investor support and servicing
26
• Other/miscellaneous fees
The fund manager or sponsor may agree to subsidize some of these charges.
Expense ratio
The expense ratio equals recurring fees and expenses charged to the fund during the year divided by average
net assets. The management fee and fund services charges are ordinarily included in the expense ratio. Front-
end and back-end loads, securities transaction fees and shareholder transaction fees are normally excluded.
To facilitate comparisons of expenses, regulators generally require that funds use the same formula to
compute the expense ratio and publish the results.

27
No-load fund:
In the United States, a fund that calls itself "no-load" cannot charge a front-end load or back-end load under
any circumstances and cannot charge a distribution and services feegreater than 0.25% of fund assets
Controversy regarding fees and expenses
Critics of the fund industry argue that fund expenses are too high. They believe that the market for mutual
funds is not competitive and that there are many hidden fees, so that it is difficult for investors to reduce the
fees that they pay. They argue that the most effective way for investors to raise the returns they earn from
mutual funds is to invest infunds with low expense ratios.
Fund managers counter that fees are determined by a highly competitive market and, therefore, reflect the
value that investors attribute to the service provided. They also notethat fees are clearly disclosed.
Average annual total return
Mutual funds in the United States are required to report the average annual compounded rates of return for
one-, five-and ten year-periods using the following formula:
P(1+T)n = ERV
Where:
P = a hypothetical initial payment of $1,000T = average annual total return
n = number of years
ERV = ending redeemable value of a hypothetical $1,000 payment made at the beginning of the one-, five-,
or ten-year periods at the end of the one-, five-, or ten-yearperiods (or fractional portion).
Market capitalization
Market capitalization equals the number of a company's shares outstanding multiplied bythe market price of
the stock. Market capitalization is an indication of the size of a company. Typical ranges of market
capitalizations are:
• Mega cap - companies worth $200 billion or more
• Big/large cap - companies worth between $10 billion and $200 billion
• Mid cap - companies worth between $2 billion and $10 billion
• Small cap - companies worth between $300 million and $2 billion

28
• Micro cap - companies worth between $50 million and $300 million
• Nano cap - companies worth less than $50 million
Net asset value
A fund's net asset value (NAV) equals the current market value of a fund's holdings minus the fund's
liabilities (this figure may also be referred to as the fund's "net assets"). It is usually expressed as a per-share
amount, computed by dividing net assets by the number of fund shares outstanding. Funds must compute
their net asset value according to the rules set forth in their prospectuses. Most compute their NAV at the
end of each business day.
Valuing the securities held in a fund's portfolio is often the most difficult part of calculating net asset value.
The fund's board typically oversees security valuation.Share classes
A single mutual fund may give investors a choice of different combinations of front-end loads, back-end
loads and distribution and services fee, by offering several different types of shares, known as share classes.
All of them invest in the same portfolio of securities, but each has different expenses and, therefore, a
different net asset value and different performance results. Some of these share classes may be available
only to certain types of investors.
Typical share classes for funds sold through brokers or other intermediaries in the UnitedStates are:
• Class A shares usually charge a front-end sales load together with a smalldistribution and services fee.
• Class B shares usually do not have a front-end sales load; rather, they have a high contingent deferred
sales charge (CDSC) that gradually declines over several
years, combined with a high 12b-1 fee. Class B shares usually convert automatically to Class A shares after
they have been held for a certain period.
• Class C shares usually have a high distribution and services fee and a modest contingent deferred sales
charge that is discontinued after one or two years. Class C shares usually do not convert to another class.
They are often called "level load" shares.
• Class I are usually subject to very high minimum investment requirements and are, therefore, known as
"institutional" shares. They are no-load shares.

29
• Class R are usually for use in retirement plans such as 401(k) plans. They typically do not charge loads,
but do charge a small distribution and services fee. No-load funds in the United States often have two classes
of shares:
• Class I shares do not charge a distribution and services fee
• Class N shares charge a distribution and services fee of no more than 0.25% offund assets
Neither class of shares typically charges a front-end or back-end load.

Turnover
Turnover is a measure of the volume of a fund's securities trading. It is expressed as a percentage of average
market value of the portfolio's long-term securities. Turnover is the lesser of a fund's purchases or sales
during a given year divided by average long-termsecurities market value for the same period. If the period is
less than a year, turnover is generally annualized.
• Active management
• Fund derivative
• Global assets under management
• Index fund
• Lipper average
• List of mutual-fund families in Canada
• List of mutual-fund families in the United States
• List of U.S. mutual funds by assets under management
• Money fund
• Mutual funds in India
• Mutual-fund scandal (2003)
• Operation Perfect Hedge
• Retirement plans in the United States38
• Rights of accumulation
• Separately managed account
• Value investing

30
 UNIT_3

DATA ANALYSIS AND INTERPRETATION

31
 DATA ANALYSIS AND INTERPRETATION

STOCKS : BSE

Nexus Surgical BSE: 538874 | NSE: | ISIN: INE370Q01015

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023 on BSE

Period High : 14.75

Period Low : 11.90

Change in market-cap : 4.29%

- SPREAD -
Date Open High Low Close Volume
(High-Low) (Open-Close)

30-12-22 12.36 13.61 12.36 13.6 3179 1.25 -1.24

29-12-22 13.32 13.32 13.01 13.01 1940 0.31 0.31

28-12-22 12.66 13.24 12.66 12.69 644 0.58 -0.03

27-12-22 12.5 13.24 12.5 13.24 1537 0.74 -0.74

26-12-22 13.4 13.4 12.65 12.7 2715 0.75 0.7

23-12-22 13.32 13.32 12.7 13.31 1995 0.62 0.01

22-12-22 13.35 13.35 12.69 12.69 774 0.66 0.66

21-12-22 13.79 13.79 13.35 13.35 3547 0.44 0.44

20-12-22 14.01 14.01 13.44 13.44 5683 0.57 0.57

19-12-22 12.21 14.75 12.21 14.7 7819 2.54 -2.49

16-12-22 12.2 12.6 11.93 12.6 7351 0.67 -0.4

15-12-22 11.91 12.2 11.91 11.92 1497 0.29 -0.01

32
 14-12-22 12.21 12.21 12.18 12.18 1135 0.03 0.03

13-12-22 12 12.2 11.9 12.19 5613 0.3 -0.19

12-12-22 12.98 12.98 12.2 12.2 5968 0.78 0.78

09-12-22 13 13 12.36 12.36 2918 0.64 0.64

08-12-22 12.89 12.89 12.52 12.75 1436 0.37 0.14

07-12-22 12.9 12.9 12.06 12.89 1538 0.84 0.01

06-12-22 12.88 12.9 12.6 12.9 2877 0.3 -0.02

05-12-22 13 13 12.84 12.84 2784 0.16 0.16

02-12-22 13.3 13.3 13.05 13.05 2938 0.25 0.25

01-12-22 13.04 13.44 13 13 1272 0.44 0.04

Table no:4.1. Tabular representation of stocks BSE

Graph:4.a. Graphical representation of BSE -Open

INTERPRETATION: The above table is about the daily data of BSE in share khan company. In this we
have taken open value, high value, close value and low value. The graph is taken for only open value from
december 2022 to january 2023.

33
Graph:4.a.Graphical representation of BSE-High

INTERPRETATION:

The above table is about the daily data of BSE in sharekhan company. In this we have taken open
value,highvalue,close value and low value.The graph is taken for only high value from december 2022 to
january 2023.

Graph:4.a.Graphical representation of BSE-Low

INTERPRETATION: The above table is about the daily data of BSE in share khan company. In this we
have taken open value, high value, close value and low value. The graph is taken for only low value from
december 2022 to january 2023.

34
Graph:4.a.Graphical representation of BSE-Close

INTERPRETATION:

The above table is about the daily data of BSE in share khan company. In this we have taken open value,
high value, close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

35
INDEX

S&P BSE Sensex

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 63583.07

Period Low : 59754.10

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 61329.2 61392.7 60743.7 60840.7 648.97 488.42

29-12-22 60628.3 61210.7 60479.1 61133.9 731.59 -505.59

28-12-22 60811.5 61075.3 60713.8 60910.3 361.56 -98.76

27-12-22 60861.4 60986.7 60405.7 60927.4 581.02 -66.02

26-12-22 59755.1 60833.8 59754.1 60566.4 1,079.68 -811.34

23-12-22 60205.6 60546.9 59765.6 59845.3 781.32 360.27

22-12-22 61257.2 61464.4 60637.2 60826.2 827.14 430.95

21-12-22 61993.7 62006.5 60938.4 61067.2 1,068.08 926.47

20-12-22 61608.9 61780.4 61102.7 61702.3 677.69 -93.44

19-12-22 61405.8 61844.9 61265.3 61806.2 579.61 -400.39

16-12-22 61534.2 61893.2 61292.5 61337.8 600.69 196.43

15-12-22 62530.1 62624.8 61715.6 61799 909.2 731.04

14-12-22 62685.9 62835.1 62591.3 62677.9 243.83 8.03

13-12-22 62300.7 62567.9 62129.6 62533.3 438.35 -232.63

36
 12-12-22 61770.6 62239.4 61676.2 62130.6 563.27 -360.01

09-12-22 62690.9 62735.4 61889.1 62181.7 846.31 509.19

08-12-22 62504 62633.6 62320.2 62570.7 313.38 -66.64

07-12-22 62615.5 62760 62316.7 62410.7 443.32 204.84

06-12-22 62395.6 62677.8 62390.1 62626.4 287.77 -230.81

05-12-22 62865.3 62939.6 62507.9 62834.6 431.75 30.68

02-12-22 62978.6 63148.6 62679.6 62868.5 468.96 110.08

01-12-22 63358 63583.1 63183.8 63284.2 399.3 73.8

Table no:4.1. Tabular representation of S&P BSE Sensex

Graph:4.a. Graphical representation of S&P BSE Sensex-Open

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, high value, close value and low value. The graph is taken for only open value from december
2022to january 2023.

37
Graph:4.a.Graphical representation of S&P BSE Sensex-High

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, highvalue,close value and low value. The graph is taken for only high value from december
2022 to january 2023.

Graph:4.a.Graphical representation of S&P BSE Sensex-Low

38
INTERPRETATION: The above table is about the daily data of S&P BSE Sensex in sharekhan company.
In this we have taken open value,highvalue,close value and low value.The graph is taken for only low value
from december 2022 to january 2023.

Graph:4.a.Graphical representation of S&P BSE Sensex-Close

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, highvalue, close value and low value. The graph is taken for only close value from december
2022to january 2023.

39
CNX Nifty

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 18887.60

Period Low : 17774.25

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 18259.1 18265.3 18080.3 18105.3 184.95 153.8

29-12-22 18045.7 18229.7 17992.8 18191 236.9 -145.3

28-12-22 18084.8 18173.1 18068.4 18122.5 104.75 -37.75

27-12-22 18089.8 18149.3 17967.5 18132.3 181.8 -42.5

26-12-22 17830.4 18084.1 17774.3 18014.6 309.85 -184.2

23-12-22 17977.7 18050.5 17779.5 17806.8 270.95 170.85

22-12-22 18288.8 18318.8 18068.6 18127.4 250.15 161.45

21-12-22 18435.2 18473.4 18162.8 18199.1 310.6 236.05

20-12-22 18340.3 18404.9 18202.7 18385.3 202.25 -45

19-12-22 18288.1 18431.7 18244.6 18420.5 187.1 -132.35

16-12-22 18319.1 18441 18255.2 18269 185.8 50.1

15-12-22 18614.4 18652.9 18387.7 18414.9 265.2 199.5

14-12-22 18671.3 18696.1 18632.9 18660.3 63.2 10.95

13-12-22 18524.4 18617.3 18490.2 18608 127.05 -83.6

40
 12-12-22 18402.2 18521.6 18345.7 18497.2 175.85 -95

09-12-22 18662.4 18664.7 18410.1 18496.6 254.6 165.8

08-12-22 18570.9 18625 18537 18609.4 88.05 -38.5

07-12-22 18638.9 18668.3 18528.4 18560.5 139.9 78.35

06-12-22 18600.7 18654.9 18577.9 18642.8 77 -42.1

05-12-22 18719.6 18728.6 18591.4 18701.1 137.25 18.5

02-12-22 18752.4 18782 18639.2 18696.1 142.75 56.3

01-12-22 18872 18887.6 18778.2 18812.5 109.4 59.45

Table no:4.1. Tabular representation of CNX Nifty

Graph:4.a.Graphical representation of CNX Nifty-Open

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only open value from december 2022 to
january 2023.

41
Graph:4.a.Graphical representation of CNX Nifty-High

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value,high value,close value and low value. The graph is taken for only high value from december 2022 to
january 2023.

42
Graph:4.a.Graphical representation of CNX Nifty-Low

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, highvalue, close value and low value. The graph is taken for only low value from december 2022 to
january 2023.

Graph:4.a. Graphical representation of CNX Nifty-Close

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, highvalue, close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

43
Bank Nifty

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 44151.80

Period Low : 41569.45

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 43401.7 43423 42833.1 42986.5 589.85 415.25

29-12-22 42684.9 43498.1 42489.8 43252.4 1,008.25 -567.45

28-12-22 42733.6 43035 42694.9 42827.7 340.1 -94.1

27-12-22 42827.8 42927.2 42394.2 42859.5 533.05 -31.75

26-12-22 41716.4 42846.2 41569.5 42630.2 1,276.70 -913.8

23-12-22 41951.4 42226.7 41597.7 41668.1 629 283.3

22-12-22 42864 42933.5 42231.4 42408.8 702.15 455.2

21-12-22 43525.8 43614.7 42363.8 42618 1,250.85 907.8

20-12-22 43152.7 43426.2 42955.4 43359.5 470.8 -206.85

19-12-22 43346.4 43451.5 43110.3 43413.8 341.15 -67.4

16-12-22 43261.8 43598.2 43080.6 43219.5 517.65 42.25

15-12-22 43940.1 44120.6 43379.1 43498.2 741.5 441.9

14-12-22 44078.6 44151.8 43988 44049.1 163.85 29.5

13-12-22 43793.7 43983.8 43767.8 43946.6 216.05 -152.85

12-12-22 43455.9 43767.1 43378.8 43708.8 388.25 -252.9

44
 09-12-22 43765.3 43853.4 43361.7 43633.5 491.7 131.85

08-12-22 43142.3 43640.9 43095.3 43596.9 545.6 -454.6

07-12-22 43157.4 43327.4 42948.5 43098.7 378.9 58.65

06-12-22 43093.9 43306.9 43076.4 43138.6 230.45 -44.65

05-12-22 43269.4 43372.2 42985 43333 387.15 -63.6

02-12-22 42976.7 43131.9 42937.8 43103.8 194.1 -127.05

01-12-22 43512.1 43515.1 43101.9 43260.7 413.2 251.45

Table no:4.1. Tabular representation of Bank Nifty

Graph:4.a.Graphical representation of Bank Nifty-Open

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, highvalue,close value and low value. The graph is taken for only open value from december 2022 to
january 2023.

45
Graph:4.a.Graphical representation of Bank Nifty-High

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, highvalue,close value and low value. The graph is taken for only high value from december 2022 to
january 2023.

46
Graph:4.a.Graphical representation of Bank Nifty-Low

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, highvalue,close value and low value. The graph is taken for only low value from december 2022 to
january 2023.

Graph:4.a.Graphical representation of Bank Nifty-Close

47
INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, highvalue,close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

STOCKS : BSE

Nexus Surgical BSE: 538874 | NSE: | ISIN: INE370Q01015

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023 on BSE

Period High : 14.75

Period Low : 11.90

Change in market-cap : 4.29%

- SPREAD -
Date Open High Low Close Volume
(High-Low) (Open-Close)

30-12-22 12.36 13.61 12.36 13.6 3179 1.25 -1.24

29-12-22 13.32 13.32 13.01 13.01 1940 0.31 0.31

28-12-22 12.66 13.24 12.66 12.69 644 0.58 -0.03

27-12-22 12.5 13.24 12.5 13.24 1537 0.74 -0.74

26-12-22 13.4 13.4 12.65 12.7 2715 0.75 0.7

23-12-22 13.32 13.32 12.7 13.31 1995 0.62 0.01

22-12-22 13.35 13.35 12.69 12.69 774 0.66 0.66

21-12-22 13.79 13.79 13.35 13.35 3547 0.44 0.44

20-12-22 14.01 14.01 13.44 13.44 5683 0.57 0.57

48
 19-12-22 12.21 14.75 12.21 14.7 7819 2.54 -2.49

16-12-22 12.2 12.6 11.93 12.6 7351 0.67 -0.4

15-12-22 11.91 12.2 11.91 11.92 1497 0.29 -0.01

14-12-22 12.21 12.21 12.18 12.18 1135 0.03 0.03

13-12-22 12 12.2 11.9 12.19 5613 0.3 -0.19

12-12-22 12.98 12.98 12.2 12.2 5968 0.78 0.78

09-12-22 13 13 12.36 12.36 2918 0.64 0.64

08-12-22 12.89 12.89 12.52 12.75 1436 0.37 0.14

07-12-22 12.9 12.9 12.06 12.89 1538 0.84 0.01

06-12-22 12.88 12.9 12.6 12.9 2877 0.3 -0.02

05-12-22 13 13 12.84 12.84 2784 0.16 0.16

02-12-22 13.3 13.3 13.05 13.05 2938 0.25 0.25

01-12-22 13.04 13.44 13 13 1272 0.44 0.04

Table no:4.1. Tabular representation of stocks BSE

49
Graph:4.a.Graphical representation of BSE -Open

INTERPRETATION:

The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
highvalue, close value and low value. The graph is taken for only open value from december 2022 to january
2023.

Graph:4.a.Graphical representation of BSE-High

INTERPRETATION:

50
The above table is about the daily data of BSE in sharekhan company. In this we have taken open
value,highvalue,close value and low value. The graph is taken for only high value from december 2022 to
january 2023.

Graph:4.a.Graphical representation of BSE-Low

INTERPRETATION:

The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
highvalue, close value and low value. The graph is taken for only low value from december 2022 to january
2023.

51
Graph:4.a.Graphical representation of BSE-Close

INTERPRETATION:

The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
high value, close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

52
INDEX

S&P BSE Sensex

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 63583.07

Period Low : 59754.10

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 61329.2 61392.7 60743.7 60840.7 648.97 488.42

29-12-22 60628.3 61210.7 60479.1 61133.9 731.59 -505.59

28-12-22 60811.5 61075.3 60713.8 60910.3 361.56 -98.76

27-12-22 60861.4 60986.7 60405.7 60927.4 581.02 -66.02

26-12-22 59755.1 60833.8 59754.1 60566.4 1,079.68 -811.34

23-12-22 60205.6 60546.9 59765.6 59845.3 781.32 360.27

22-12-22 61257.2 61464.4 60637.2 60826.2 827.14 430.95

21-12-22 61993.7 62006.5 60938.4 61067.2 1,068.08 926.47

20-12-22 61608.9 61780.4 61102.7 61702.3 677.69 -93.44

19-12-22 61405.8 61844.9 61265.3 61806.2 579.61 -400.39

16-12-22 61534.2 61893.2 61292.5 61337.8 600.69 196.43

15-12-22 62530.1 62624.8 61715.6 61799 909.2 731.04

14-12-22 62685.9 62835.1 62591.3 62677.9 243.83 8.03

13-12-22 62300.7 62567.9 62129.6 62533.3 438.35 -232.63

53
 12-12-22 61770.6 62239.4 61676.2 62130.6 563.27 -360.01

09-12-22 62690.9 62735.4 61889.1 62181.7 846.31 509.19

08-12-22 62504 62633.6 62320.2 62570.7 313.38 -66.64

07-12-22 62615.5 62760 62316.7 62410.7 443.32 204.84

06-12-22 62395.6 62677.8 62390.1 62626.4 287.77 -230.81

05-12-22 62865.3 62939.6 62507.9 62834.6 431.75 30.68

02-12-22 62978.6 63148.6 62679.6 62868.5 468.96 110.08

01-12-22 63358 63583.1 63183.8 63284.2 399.3 73.8

Table no:4.1. Tabular representation of S&P BSE Sensex

Graph:4.a.Graphical representation of S&P BSE Sensex-Open

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, high value, close value and low value. The graph is taken for only open value from december
2022to january 2023.

54
Graph:4.a.Graphical representation of S&P BSE Sensex-High

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value,high value, close value and low value. The graph is taken for only high value from december
2022 to january 2023.

Graph:4.a.Graphical representation of S&P BSE Sensex-Low

55
INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, highvalue, close value and low value. The graph is taken for only low value from december
2022 to january 2023.

Graph:4.a.Graphical representation of S&P BSE Sensex-Close

INTERPRETATION:

The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value, highvalue, close value and low value. The graph is taken for only close value from december
2022to january 2023.

56
CNX Nifty

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 18887.60

Period Low : 17774.25

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 18259.1 18265.3 18080.3 18105.3 184.95 153.8

29-12-22 18045.7 18229.7 17992.8 18191 236.9 -145.3

28-12-22 18084.8 18173.1 18068.4 18122.5 104.75 -37.75

27-12-22 18089.8 18149.3 17967.5 18132.3 181.8 -42.5

26-12-22 17830.4 18084.1 17774.3 18014.6 309.85 -184.2

23-12-22 17977.7 18050.5 17779.5 17806.8 270.95 170.85

22-12-22 18288.8 18318.8 18068.6 18127.4 250.15 161.45

21-12-22 18435.2 18473.4 18162.8 18199.1 310.6 236.05

20-12-22 18340.3 18404.9 18202.7 18385.3 202.25 -45

19-12-22 18288.1 18431.7 18244.6 18420.5 187.1 -132.35

16-12-22 18319.1 18441 18255.2 18269 185.8 50.1

15-12-22 18614.4 18652.9 18387.7 18414.9 265.2 199.5

14-12-22 18671.3 18696.1 18632.9 18660.3 63.2 10.95

13-12-22 18524.4 18617.3 18490.2 18608 127.05 -83.6

57
 12-12-22 18402.2 18521.6 18345.7 18497.2 175.85 -95

09-12-22 18662.4 18664.7 18410.1 18496.6 254.6 165.8

08-12-22 18570.9 18625 18537 18609.4 88.05 -38.5

07-12-22 18638.9 18668.3 18528.4 18560.5 139.9 78.35

06-12-22 18600.7 18654.9 18577.9 18642.8 77 -42.1

05-12-22 18719.6 18728.6 18591.4 18701.1 137.25 18.5

02-12-22 18752.4 18782 18639.2 18696.1 142.75 56.3

01-12-22 18872 18887.6 18778.2 18812.5 109.4 59.45

Table no:4.1. Tabular representation of CNX Nifty

Graph:4.a.Graphical representation of CNX Nifty-Open

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value, close value and low value. The graph is taken for only open value from december 2022 to
january 2023.

58
Graph:4.a. Graphical representation of CNX Nifty-High

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value ,high value, close value and low value. The graph is taken for only high value from december 2022 to
january 2023.

59
Graph:4.a.Graphical representation of CNX Nifty-Low

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, highvalue,close value and low value. The graph is taken for only low value from december 2022 to
january 2023.

Graph:4.a.Graphical representation of CNX Nifty-Close

INTERPRETATION:

The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value, close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

60
Bank Nifty

Historical Data for the Period : 01-Dec-2022 to 01-Jan-2023

Period High : 44151.80

Period Low : 41569.45

- SPREAD -
Date Open High Low Close
(High-Low) (Open-Close)

30-12-22 43401.7 43423 42833.1 42986.5 589.85 415.25

29-12-22 42684.9 43498.1 42489.8 43252.4 1,008.25 -567.45

28-12-22 42733.6 43035 42694.9 42827.7 340.1 -94.1

27-12-22 42827.8 42927.2 42394.2 42859.5 533.05 -31.75

26-12-22 41716.4 42846.2 41569.5 42630.2 1,276.70 -913.8

23-12-22 41951.4 42226.7 41597.7 41668.1 629 283.3

22-12-22 42864 42933.5 42231.4 42408.8 702.15 455.2

21-12-22 43525.8 43614.7 42363.8 42618 1,250.85 907.8

20-12-22 43152.7 43426.2 42955.4 43359.5 470.8 -206.85

19-12-22 43346.4 43451.5 43110.3 43413.8 341.15 -67.4

16-12-22 43261.8 43598.2 43080.6 43219.5 517.65 42.25

15-12-22 43940.1 44120.6 43379.1 43498.2 741.5 441.9

14-12-22 44078.6 44151.8 43988 44049.1 163.85 29.5

13-12-22 43793.7 43983.8 43767.8 43946.6 216.05 -152.85

12-12-22 43455.9 43767.1 43378.8 43708.8 388.25 -252.9

61
 09-12-22 43765.3 43853.4 43361.7 43633.5 491.7 131.85

08-12-22 43142.3 43640.9 43095.3 43596.9 545.6 -454.6

07-12-22 43157.4 43327.4 42948.5 43098.7 378.9 58.65

06-12-22 43093.9 43306.9 43076.4 43138.6 230.45 -44.65

05-12-22 43269.4 43372.2 42985 43333 387.15 -63.6

02-12-22 42976.7 43131.9 42937.8 43103.8 194.1 -127.05

01-12-22 43512.1 43515.1 43101.9 43260.7 413.2 251.45

Table no:4.1. Tabular representation of Bank Nifty

Graph:4.a.Graphical representation of Bank Nifty-Open

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value, close value and low value. The graph is taken for only open value from december 2022 to
january 2023.

62
Graph:4.a.Graphical representation of Bank Nifty-High

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only high value from december 2022 to
january 2023.

63
Graph:4.a.Graphical representation of Bank Nifty-Low

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only low value from december 2022 to
january 2023.

64
Graph:4.a.Graphical representation of Bank Nifty-Close

INTERPRETATION:

The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only close value from december 2022 to
january 2023.

65
 UNIT-5

Findings and suggestions

66
FINDINGS

 The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
highvalue, close value and low value. The graph is taken for only open value from december 2022 to
january 2023.
 The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
high value,close value and low value. The graph is taken for only high value from december 2022 to
january 2023.
 The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
highvalue,close value and low value. The graph is taken for only low value from december 2022 to
january 2023.
 The above table is about the daily data of BSE in sharekhan company. In this we have taken open value,
high value,close value and low value. The graph is taken for only close value from december 2022 to
january 2023.
 The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value,highvalue,close value and low value.The graph is taken for only open value from december
2022 to january 2023.
 The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value,highvalue,close value and low value.The graph is taken for only high value from december
2022 to january 2023.
 The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have
taken open value, high value, close value and low value. The graph is taken for only low value from
december 2022 to january 2023.
 The above table is about the daily data of S&P BSE Sensex in sharekhan company. In this we have taken
open value,high value,close value and low value. The graph is taken for only close value from december
2022 to january 2023.
 The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value ,high value, close value and low value.The graph is taken for only open value from december
2022to january 2023.

67
 The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only high value from december 2022
to january 2023.
 The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only low value from december 2022
tojanuary 2023.
 The above table is about the daily data of CNX nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only close value from december
2022 to january 2023.
 The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only open value from december
2022 to january 2023.
 The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value,close value and low value. The graph is taken for only high value from december
2022 to january 2023.
 The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value, close value and low value. The graph is taken for only low value from december 2022
to january 2023.
 The above table is about the daily data of bank nifty in sharekhan company. In this we have taken open
value, high value, close value and low value. The graph is taken for only close value from december
2022 to january 2023.

68
SUGGESTIONS

 Any investor who wants to invest in the mutual funds they must go for professional investment process
to achieve the objectives.
 Investors much know about Mutual funds. Investor should have to see the performance of mutual funds
before investing.
 The returns of the SHAREKHAN are less than the risk. So the investors have to see the past records of
the mutual funds. Compare with other mutual funds companies.
 See whether they have been giving any security on our investments.
 Select right mutual funds which should have less risk and high profits.
 See whether any fluctuations in the Dividends. Select those mutual funds which give high returns with
low investments.

69
CONCLUSION

It is expected that the SHAREKHAN bets on growth will pay off. The SHAREKHAN - Growth has
outperformed its rivals. Management and investor goals in the industry need to be transparent and
aligned. Sharekhan is a safe and reliable stockbroker in India. It has a strong parent company, quality
services, and variable brokerage rates as per customer requirements. Sharekhan follows all the regulatory
guidelines.

70
REFRENCES:

1. Bhagyasree, N., &Kishori, B. (2016). A study on performance evaluation of mutual funds schemes
in India. International Journal for Innovative Research in Science & Technology, 2(11), 812-816.
2. Shah, S. A., Hijazi, S. T., &Hamdani, N. H. (2005). Performance evaluation of mutual funds in
Pakistan [with comments]. The Pakistan Development Review, 863-876.
3. Choi, Y. K., &Murthi, B. P. S. (2001). Relative performance evaluation of mutual funds: A non‐
parametric approach. Journal of Business Finance & Accounting, 28(7‐8), 853-876.
4. Choudhary, V., & Chawla, P. S. (2014). Performance evaluation of mutual funds: A study of
selected diversified equity mutual funds in India. In International Conference on Business, Law and
Corporate Social Responsibility (Vol. 2, No. 10).
5. Tripathi, S., &Japee, D. G. P. (2020). Performance evaluation of selected equity mutual funds in
India. Gap Gyan-A Global Journal of Social Sciences.
6. Murhadi, W. R. (2010). Performance evaluation of mutual funds in Indonesia. Available at SSRN
1683777.
7. Haralayya, B. (2022). Comparative Study on Performance Evaluation of Mutual Funds with
Reference to Banking Funds. Iconic Research And Engineering Journals, 5(10), 56-64.
8. Murthy, J., Anjaneyulu, M. S. R., Bhatt, M. H., & Kumar, M. D. S. (2022). Performance Evaluation
Of Mutual Funds: A Study On Selected Equity Mutual Funds In India. Journal of Positive School
Psychology, 6(9), 1124-1132.
9. ACMA, M. Q. (2014). Comparative study on performance evaluation of mutual fund schemes in
Bangladesh: An analysis of monthly returns. Journal of Business Studies Quarterly, 5(4), 190.
10. Kumar, V. (2012). Performance evaluation of open ended schemes of mutual funds. Sumedha
Journal of Management, 1(1), 27-42.

71
72