A REPORT ON

MARKET PENETRATION OF MUTUAL FUND (SOUTH DELHI)

BY VIKAS SHARMA MBA 2005-07

STANDARD CHARTERED ASSET MANAGEMENT COMPANY H2 CANNAUGHT CIRCUS

Contract: 3

A REPORT ON
MARKET PENETRATION OF MUTUAL FUND (SOUTH DELHI)

BY VIKAS SHARMA MBA 2005-07

A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF MBA PROGRAM (CLASS OF 2007) "ICFAI NATIONAL COLLEGE"

Copies marked list-5

TABLE OF CONTENTS2

 Acknowledgements List of tables & illustrations Abstract summary Introductions-objectives &limitations Methodology Result or findings Conclusions & or recommendations/suggestion Appendices Bibliography Glossary On the job training

04 03 05 40 06 44 59 79 80 81 82

ACKNOWLEDGEMENTS-

I am thankful to my company guide Mr. Sanyam Sharma for mentoring me in my SIP project and providing me time-to-time information related to my projects. Without help of Sanyam sir it was not possible to complete the project. I am thankful to my Faculty guide Mr. Lalitya srivastava for guiding me on weekly basis and pitching me for completion of my SIP projects on time. I am thankful to all my friends who have given their full support in collection of data. At last I am thankful to all my family members whom support was essential for me to prepare this complete project on Standard Chartered Asset Management Company.

ABSTRACT / SUMMARY -

This project was basically to find out the market penetration of mutual funds in south Delhi as well as the investors perception about the mutual funds in Delhi region. I was trying to find out the investors perception about the mutual funds as well as the other investment options, which they prefers.

In this project the main task was to Collect the data from customers, sales officers of the bank and bank officials of ABN AMRO, HDFC, ICICI, STANDARD CHARTERED AMC and find out the market penetration of mutual funds and predict the future of mutual funds. I have started this project to get the complete information about mutual funds from the investors who have invested in the mutual funds and from those also who are interested in to invest in the mutual funds.

METHODOLOGY-

This report was given by my company guide Mr. Sanyam Sharma (Area sales officer) of Standard Chartered bank New Delhi. According to his guidelines and with a strong support by my faculty guide Mr. Lalitya srivastava .I has prepared it. For the preparation of this project I have prepared three questionnaires for collecting the data. One for investors, one for sales persons and one for bank itself. Regarding collection of data I have decided to collect 200 investors data, 20 sales persons data and of 10 bank officers data. My project is mainly related to Standard Chartered Bank and in a support with ABN AMRO Bank, HDFC Bank, ICICI Bank. After collection of data and analysis I have prepared it and presented on graph as well explained it with reasons. For collecting data I have visited to the investors by getting appointments through phone calls. Some of the data are collected through telephone itself. For banks I have taken help of documents of banks, their fund fact sheets, forms etc.

Introduction about mutual funds-

Mutual Funds - Concept 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. The income earned through these investments and the capital appreciations realized are shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. The flow chart below describes broadly the working of a mutual fund:

Mutual Fund Operation Flow Chart

Mutual Funds Industry in India The origin of mutual fund industry in India is with the introduction of the concept of mutual fund by UTI in the year 1963. Though the growth was slow, but it accelerated from the year 1987 when non-UTI players entered the industry. In the past decade, Indian mutual fund industry had seen dramatic improvements, both quality wise as well as quantity wise. Before, the monopoly of the market had seen an ending phase; the Assets Under Management (AUM) was Rs. 67bn. The private sector entry to the fund family raised the AUM to Rs. 470 bn in March 1993 and till April 2004; it reached the height of 1,540 bn. Putting the AUM of the Indian Mutual Funds Industry into comparison, the total of it is less than the deposits of SBI alone, constitute less than 11% of the total deposits held by the Indian banking industry. The main reason of its poor growth is that the mutual fund industry in India is new in the country. Large sections of Indian investors are yet to be intellectuated with the concept. Hence, it is the prime responsibility of all mutual fund companies, to market the product correctly abreast of selling. The mutual fund industry can be broadly put into four phases according to the development of the sector. Each phase is briefly described as under. First Phase - 1964-87 Unit Trust of India (UTI) was established on 1963 by an Act of Parliament. It was set up by the Reserve Bank of India and functioned under the Regulatory and administrative control of the Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial Development Bank of India (IDBI) took over the regulatory and administrative control in place of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had Rs.6,700 crores of assets under management.

Second Phase - 1987-1993 (Entry of Public Sector Funds)

Entry of non-UTI mutual funds. SBI Mutual Fund was the first followed by Canbank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC in 1989 and GIC in 1990. The end of 1993 marked Rs.47,004 as assets under management. Third Phase - 1993-2003 (Entry of Private Sector Funds) With the entry of private sector funds in 1993, a new era started in the Indian mutual

fund industry, giving the Indian investors a wider choice of fund families. Also, 1993 was the year in which the first Mutual Fund Regulations came into being, under which all mutual funds, except UTI were to be registered and governed. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in July 1993. The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive and revised Mutual Fund Regulations in 1996. The industry now functions under the SEBI (Mutual Fund) Regulations 1996. The number of mutual fund houses went on increasing, with many foreign mutual funds setting up funds in India and also the industry has witnessed several mergers and acquisitions. As at the end of January 2003, there were 33 mutual funds with total assets of Rs. 1,21,805 crores. The Unit Trust of India with Rs.44,541 crores of assets under management was way ahead of other mutual funds. Fourth Phase - since February 2003 This phase had bitter experience for UTI. It was bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust of India with AUM of Rs.29,835 crores (as on January 2003). The Specified Undertaking of Unit Trust of India, functioning under an administrator and under the rules framed by Government of India and does not come under the purview of the Mutual Fund Regulations. The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and
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LIC. It is registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation of the erstwhile UTI which had in March 2000 more than Rs.76,000 crores of AUM and with the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual Fund Regulations, and with recent mergers taking place among different private sector funds, the mutual fund industry has entered its current phase of consolidation and growth. As at the end of September, 2004, there were 29 funds, which manage assets of Rs.153108 crores under 421 schemes.

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THE CONCEPT OF MUTUAL FUND AND MAJOR PLAYERS

The concept of mutual funds in India dates back to the year 1963. The era between 1963 and 1987 marked the existance of only one mutual fund company in India with Rs. 67bn assets under management (AUM), by the end of its monopoly era, the Unit Trust of India (UTI). By the end of the 80s decade, few other mutual fund companies in India took their position in mutual fund market. The new entries of mutual fund companies in India were SBI Mutual Fund, Canbank Mutual Fund, Punjab National Bank Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund. The succeeding decade showed a new horizon in indian mutual fund industry. By the end of 1993, the total AUM of the industry was Rs. 470.04 bn. The private sector funds started penetrating the fund families. In the same year the first Mutual Fund Regulations came into existence with reregistering all mutual funds except UTI. The regulations were further given a revised shape in 1996. Kothari Pioneer was the first private sector mutual fund company in India which has now merged with Franklin Templeton. Just after ten years with private sector players penetration, the total assets rose up to Rs. 1218.05 bn. Today there are 33 mutual fund companies in India.

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The above chart shows the growth of asset under management in India from March 1965 to September 2004.in march 1965 there was only 25 cr. AUM and in September 2004, 153108 cr. was AUM. Its continuously increasing shows the increasing trends of mutual funds in India.

Standard Chartered Mutual Fund is well-established fund house and is sponsored by the Standard Chartered Group. Standard Chartered Mutual Fund launched its first scheme Grind lays Super Saver Income Fund in the year July 2000. Since then it focused on debt for 5 years and launched several innovative products that went to become bourgeoning categories in the Indian mutual fund industry. Some of these were The Dynamic Bond Fund, The Short term Fund and the Medium Term Fund. It also pioneered several service initiatives that helped increase transactional ease. It was the first mutual fund to initiate

Across the counter redemptions for all classes of investors in liquid funds,
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Next day redemptions for non-liquid funds and lately One Call Free number 1600226622 accessible across 153 cities

Phone transacts service wherein investors can redeem without having any Personal Identification Numbers. Standard Chartered Mutual Fund today has offices in 19 cities and currently manages assets in excess of Rs 8000 crores.

HISTORY OF STANDARD CHARETERED BANK

The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863, and the Chartered Bank of India, Australia and China, founded in1853.

Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the

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movement of goods from Europe to the East and to Africa.

SCB IN INDIA AT A GLANCE

The Standard Chartered Bank opened its first overseas branch ever in Kolkata on April 12, 1858. Calcutta as it was known then was the most important Indian commercial city, and the centre of the jute and indigo trade. With the growth of the cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today, the group has a combined customer base of 2.4 million users in retail banking and over 1,200 corporate customers, branches and sub-branches in India, which are directed and administered from Mumbai, with Calcutta remaining an important trading and banking centre. It is one of the worlds most international banks, employing over 40,000 people, representing 80 nationalities, across its network. Standard Chartered operates in over 1,200 locations (including subsidiaries, associates and joint ventures) in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

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SCB MUTUAL FUND AT A GLANCE

Australia and New Zealand (ANZ) Banking Group is Australias leading international banking and financial services group. ANZ made its foray in the mutual fund business in July 2000 with the launch of the Grindlays Super Saver Income Fund. The merger of the ANZ banking group with Standard Chartered Bank has made the combined entity one of the largest international banks in the country. Standard Chartered Bank has recently received all the approvals for acquiring the shareholdings of ANZ in ANZ Asset Management Company Pvt Ltd and ANZ Grindlays Trustee Company Pvt Ltd. The AMC and the Trust have been renamed Standard Chartered Asset Management Company and Standard Chartered Trustee Company Pvt Ltd respectively.

Mr. Rajiv Anand is the Head of Investments at Standard Chartered Mutual Fund. He brings with him nearly a decade of experience in the Indian
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money and debt markets. He started off in the treasury of HSBC before moving to the dealing room of ANZ Grindlays Bank, where he was part of the banks Treasury team, managing balance sheet portfolios like SLR, daily funding and CRR as well as the Foreign currency loan/deposit book. The stint in the dealing room exposed him to the cutting edge techniques of interest rate and liquidity risk management. From the dealing room he has moved to the fund management arm of the bank. In an interview with Toral Munshi and Kinner Mehta of Indiainfoline Mr Anand speaks about the reasons for sharp inflows into Income schemes, their investment style leading to superior performance of Grindlays Super Saver Income Fund and outlook for debt funds.

CEO OF STANDARD CHARTERED BANK

NEERAJ SWAROOP CEO - INDIA Standard Chartered ADDRESS OF Mr.NEERAJ SWAROOP Standard Chartered Bank (Established: 1858)

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Principal Office Address: 90 Mahatma Gandhi Road Mumbai, 400 001, India Tel: +91 (002) 22670162 Number of branches/corporate offices: 89 Branch opening hours: 9.00am - 6.00pm Mon - Fri 10.00am - 3.00pm Sat 10.00am - 2.00pm (Sun and public holidays) *Some branches in the country also cater to 24/7 banking

Establishment of standard chartered bank around the word

Country Year Established United Kingdom 1853 China, India, Sri 1858 Lanka Hong Kong, 1859 Singapore Indonesia, Pakistan 1863 Philippines 1872 Malaysia 1875 Japan Zimbabwe The Gambia, Sierra Leone, Thailand Ghana Botswana USA Bangladesh Zambia Kenya Uganda Tanzania 1880 1892 1894 1896 1897 1902 1905 1906 1911 1912 1917

Country Australia Mexico, Oman Peru Jersey Brazil Venezuela Falkland Islands, Macau Taiwan Cameroon Nepal Vietnam Cambodia, South Africa Iran Colombia Laos, Argentina Nigeria Lebanon

Year Established 1964 1968 1973 1978 1979 1980 1983 1985 1986 1987 1990 1992 1993 1995 1996 1999 2000 17

Bahrain Jordan Korea Qatar Brunei, UAE

1920 1925 1929 1950 1958

Cote dIvoire Mauritius Turkey Afghanistan

2001 2002 2003 2004

MAJOR CUSTOMERS

RESIDENT INDIVIDUALS COMPANYBODY CORPORATES PROPIRETOR NRI-NRE FII TRUST HUF ON BEHALF OF MINOR PARTENERSHIP FIRM SOCIETY

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 BANK

MAJOR COMPETETIORS

HDFC ICICI KOTAK MAHINDRA FRANKLIN TEMPLETON HSBC ABN AMRO SBI MUTUAL FUND

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MAJOR AWARDS TO STANDARD CHARTERED BANK

ASIA RISK AWARD 2005 IFR ASIA AWARD 2005 THE ASSET TRIPLE ASIAN AWARD 2005 FINANCE ASIA ACHEIVEMENT AWARD 2005 EURO MONEY AWARDS FOR EXCELLENCE 2005 GLOBAL CUSTODIAN AGENT BANK SURVEY 2005 GLOBAL FINANCE AWARD 2005 TOTAL CARING COMPANY AWARD EXECELENCE IN RETAIL FINANCIAL SERVICES

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 ASIAN CSR AWARDS

SCMF OFFICES

AHMEDABAD ABHIJIT - II, GR. FLR, MITHAKHALI, 6TH ROAD, NAVRANG PURA, AHMEDABAD -380006 Tel :079-26460923 BANGALORE RAHEJA TOWERS, 26, M.G. ROAD, 6TH FLR, WEST WING, BANGALORE - 560001 Tel :08025323059/25327395/25327399/25593550 CHANDIGARH SCO 137 - 138, SECTOR 9C, MADHYA MARG, CHANDIGARH - 160017 Tel : CHENNAI GRINDLAYS CENTRE", 1ST FLOOR, 19, RAJAJI SALAI, CHENNAI - 600001 Tel : 04425349371/25349372/25349373 COIMBATORE RED ROSE PLAZA, 509, D.B. ROAD, R. S. PURAM, COIMBATORE - 641002 Tel : 0422-2542645/2542678 KOCHI HDFC BLDG, 1ST FLOOR, RAVIPURAM JUNCTION, KOCHI- 682015 Tel : 0484 -2358639 KOLKATA 41, CHOWRINGHEE, KOLKATA - 700 071 Tel : 03322882048/22883164 LUCKNOW NARAIN AUTOMOBILES, 4 SHAHNAZAF ROAD, 21

LUCKNOW - 226001 Tel : 0522 2200097 LUDHIANA SCO 16-17, FEROZE GANDHI MARKET, LUDHIANA 141001 Tel : 0161-5022155/502215 MUMBAI 90 MG ROAD, FIRST FLOOR, FORT MUMBAI 400001 Tel PUNE 4TH FLOOR, SHRIRANG HOUSE, 364-365 J.M. ROAD, SHIVAJI NAGAR, PUNE - 411005 Tel : 020-56020965 VADODARA GROUND FLOOR, AKASH GANGA COMPLEX, ADJACENT TO VANIJYA BHAVAN, RACE COURSE CIRCLE, VADODARA - 39 00 07 Tel : 0265 -5520919

KANPUR 16/105 MG ROAD, MALL ROAD, KANPUR Tel : 0512 2305955 HYDERABAD 6/3/1090, TSR TOWERS, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD - 500 082 Tel : 040 - 55329924 / 25/27 JAIPUR G - 7, G - 8, ANUKAMPA TOWERS CHURCH ROAD, JAIPUR 302 001 Tel : 0141 -5105797/5105798 NEW DELHI H BLOCK, GR. FLR, CONNAUGHT CIRCUS, NEW DELHI -110001 Tel : 011-23406703/51513043

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FACILITIES PROVIDED BY SCB

Overdraft Facilities Commercial Paper facilities Bankers Acceptance Import Trade Finance facility/Clean line Letters of Credit Export Finance Short/Medium term finance Personal Finance Credit Cards Priority Banking Investment Advisory Services

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TYPES OF BOND IN STANDARD CHARTERED BANK

Money Market Bonds The bonds of which 100% funds are placed in money market instruments like deposits, SBI (Bank Indonesia Certificates), and obligation with maturity date less than 1 year. Fund protection and liquidity Suitable for short-term investment Fixed Gain Bonds The bonds of which 80% funds are placed in the obligation, normally with maturity date of 3 years and over. Gain higher interests from the saved deposits Suitable for mid-term investment, minimum 3 years Mixed Bonds The bonds being money market instruments, obligations and shares with flexible composition according to your financial requirements. Increasing funds Suitable for mid and long term investment

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Share Bonds Bonds of which minimum 80% of funds are placed in shares Increasing funds Suitable for long term investment, minimum 6 years

REASONS TO INVEST IN MUTUAL FUND5 reasons why you must invest in Equity Mutual Funds # 1. Your money needs to generate much higher returns to secure retirement Are you burning your retirement cash to light up your life today? We don't want to spoil your party. But connect the dots of your ages, your 30s/ 40s or 50s and they WILL connect to 60,70 and even 80. You will turn old one day. And you will not want to depend on someone then, even your kids. The good news is that you can start today and build sizeable savings by -50% the time you retire. your

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Assuming annual compounding at the same rate as the investment rate throughout the period of investment.

The chart shows how saving at a more than average rate of 20% can make your savings increase substantially over the next 20 years. By how much? A 1 lakh savings today can increase to close to Rs. 40 lakhs by the time you are ready to hang up your boots.
The trick is not to be satisfied with the 5% or 10% returns and hunt for investments that can give you above average returns. Your search ends here.

# 2. Equity markets can give the returns needed to secure your

future.

The graph below shows that returns generated by the Sensex over the past 20 year period have been a healthy 15%. This while the Indian economy grew at 34% for more than half that 150% period. Going forward, this growth is targeted to be 6-8%, now you know why we are optimistic about the equity markets.

BSE Sensex Point to Point returns as on 25.05.05 Source: Bloomberg

If you have been wary of investing in equity mutual funds because of the risk involved, we have some news for you

# 3. Historical data proves that investing inthe Equity market less risky in the long term

becomes

As shown below, the peaks and troughs of returns can be mellowed by remaining invested for the long term. The historical analysis shows how the maximum and minimum returns generated by the Sensex behave from 1 year to 20 years.

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BSE Sensex Rolling returns (yearly basis) from March 1979 to March 2005 Source: Bloomberg

But you may be a complete beginner and may know nothing about how to invest. Fortunately, there are collections of investors called Mutual funds that have professional fund managers that invest in the stock market collectively on behalf of investors. And what's more,

# 4. Mutual funds offer a better route to investing in equities for lay investors A mutual fund acts like a professional fund manager,investing your money and passing the returns to you. All it deducts is a management fee and its expenses, which are declared in its offer document. As seen in the following graph, looking at the past 10 years,mutual funds have given higher returns over the BSE Sensex ,even when measured on a 5 year rolling basis.
Sensex Equity MF Average*

Average Min Max

2.46% -7.90% 14.51%

20.63% 8.94% 33.53%

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*Average returns of private sector diversified equity fund ( 7 schemes) existing more than ten years. Source Crisil Fund Tracker. Comparison of returns of BSE Sensex and Private Sector Diversified Equity funds (7schemes existing for more than 10 years) for the past 10 years. Source: Crisil Mutual Fund Tracker, Bloomberg The logic is simple, it makes sense to leave your investments in the hand of professionals you can trust. However, you may ask, why invest now. Because

# 5. The Indian economy is booming right now. The Indian economy is growing strongly as shown by the growth rate of Gross Domestic Product (Broadly the Total Production of goods and services in the country). A booming markets.

BSE Sensex from 1985 to 2005 till date. Source: Bloomberg

Investing now in the stock market can enable you to benefit from a growing Indian economy.

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INVESTMENT IN MUTUAL FUNDS-

5 Easy Steps to investing in mutual funds

Search: Where to look for if you want to begin saving in mutual funds Mutual funds are much like any other product, in that there are manufacturers who provide the product and there are dealers who sell them. Large banks to organized brokerage houses to Individual Financial agents get empanelled with Mutual Funds to provide advise and assistance to customers who want to buy units. Mutual funds units can now also be bought over the Internet Contacting an Investment advisor in a bank or a brokerage house or an Independent Financial Advisor is the first step to gathering information.

Evaluation:choosing the right mutual fund for you Each Mutual fund offers a variety of schemes to suit differing needs of investors. The Bank/ Brokerage house/ Individual Financial Advisor helps you make the choice based on your needs. As an investor one may a) for the short term or long term want to invest b) want regular income or growth c) want to target lower risk or higher returns d) be convinced of a particular sector and want to invest in it Remember, just like a salesman in a gift shop, your investment advisor can help you the most if he knows what you are looking for.

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Purchase After you have decided to save, you may have to decide among the various investment and withdrawal options that any fund offers to its investors. Most of these schemes also offer various options to customize your operation of the fund to your needs: Systematic Investment Plan (SIP):Allows you to save a part of your income regularly. Also used to reduce risk when investing in schemes targeting aggressive growth. Systematic Withdrawal Plan (SWP): Allows you to withdraw a part of your investment regularly. Used when you want to withdraw your investment for a specific regular payment, like insurance premium payments of monthly/quarterly frequency. Automatic debit:Saves the hassle of writing a cheque when making an investment. Your account is debited automatically for the amount invested. Automatic credit: The reverse of Automatic Debit. Saves the hassle of enchasing a cheque when withdrawing an investment. Your account is credited automatically with the amount withdrawn. Dividend plan: Allows you to get Tax-free dividends from your investment. (As per current Tax laws). Growth plan: Allows the income generated from investment to be ploughed back into the scheme. Used by investor targeting growth in their investment. Some funds carry an entry load, which is a percentage fee deducted from the amount invested before investment. Thus a 2.5% entry load will mean that if you invest Rs 1 lakh in a Rs. 10 per unit IPO, instead of getting 10,000 units, you will be allotted 9,750 units. Check for presence of such loads and other conditions before investing. After deciding the choice of mutual fund, investment and withdrawal, you are ready to begin your savings. You need to now fill up an application form and attach a cheque of the value of your investment or mention your account number to have it automatically debited from your account.

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Post Purchase Monitoring Once you have invested in an ongoing fund, expect a period of two to three days before you receive an account statement on the address mentioned by you in your application form. The Account Statement Your account statement indicates your current holding in the scheme that you have invested. Please ensure that all your details have been correctly captured in account statement. Please point out any discrepancies to your nearest CAMS investor Service Centre or the Mutual Fund office. You can request an account statement any time by calling up your nearest CAMS/ Mutual fund offices usually mentioned on the back of the account statement. The transaction slip at the end of the account statement can be used for additional purchases, redemptions or to intimate the mutual fund on any change in bank mandates/address.

The NAVs of all the open-ended schemes are published at the fund's website, financial newspapers and AMFI (Association of Mutual Funds) web-site www.amfiindia.com.

Exit While you should periodically monitor the performance of your investments, we recommend you do not get swayed by short term considerations in deciding your exit. If you have invested in a long term fund, you can spare yourself undue worries by not monitoring the NAV every day or week. Checking the performance once in a while along with your advisor should be fine. Most mutual funds will provide you with a toll free number that works from 9 am to 5 am and a website. For specific assistance you can also use your financial

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advisors help. Redemption/ Withdrawal Just submit your completed transaction within the transacted time for the scheme that you are invested in and deposit the same at the nearest CAMS Investor Service Centre or the office of the fund. You can either get a direct credit to your bank account or you can generally collect the cheque at the CAMS Investor Service Centre/ AMC offices. If you fail to do so then the cheque is couriered to the address mentioned in your account statement. Most funds take 1-3 days to credit your account with your redemption proceeds. In case an exit load is applicable to your withdrawal and you have redeemed a fixed amount, an additional number of units equivalent to the exit load amount will be liquidated from your investment. You can check this amount with the mentioned exit load when you get the account statement using a simple calculator. SOURCE- INTERNET (standardcharteredmf.com)

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PROJECT

PROJECT33

Questionnaire

VIKAS SHARMA- (FINANCIAL ADVISOR)

Market penetration of mutual funds

Name OccupationEmployed Professional Age GroupYoung Adult (18 35) Are you aware of share market? Yes If yes how? Friend News Paper No Adult (35 50) Senior Citizen (Above 50) Self Employed House Wife Business Others Sex: Male Female

Investor TV Others If no why? No Interest Education <1year Equity trading Mutual Fund STANDARD C.AMC FRANKLIN

Unaware Share market Not Secure Market 1 3 years Commodities Others ABN AMRO HSBC HDFC SBI 3 5 years

Financial Problem Others More than 5 years Future / Options

How much year knowledge do you have? Which type investment do you have in the share market?

Which company did you select? ICICI KOTAK RELIANCE

Why did you select this company? Only heard this company Better services Work in a particular field Growth rate Convenience Less Brokerage Different services Other Reason

How did you select this company? Through Representative Own Research Advertisement Randomly Good Fair Reference Others Poor

Are you satisfied with this company? Excellent Very Good If no why? . If you are given a chance to change another company, it may be Company Name No Why will you select this company?

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.. What is yours company brokerage? Intra Day. 1000-5000 5000-10000 10000-2500 50000-100000 100000-200000 500000 Do you want any extra service from your company? Delivery Period 25000-50000 200000-500000 What is your normal investment in mutual funds? (in Rs) Above

.. Date: Phone:

FOR SALES PERSONS-

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NAMEBANK NAMEDESIGNATIONDATE OF JOININGINVESTMENT DETAIL Which scheme collected maximum revenue? What was your part in that scheme? What was the return of that scheme? Which type of customer had invested more in that scheme? 1-Upper level 2-Middle level 3-Lower level Maximum number of investor who had invested similar applications amount? Any suggestation to standard chartered bank?

FOR BANK OFFICERS Bank name Location Number of schemes Investment amount Recent schemes Collected amount Contribution of any other bank

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INTRODUCTIONObjectives and limitations

The purpose and nature of this project is to find out the following things-

Number of people in Delhi who know about share market and mutual funds? How they know share market and mutual funds? Age discrimination- which age people are more aware to equity markets? What is their profession who know about equity markets? From how many periods they are aware of equity market? Which type of investment investors prefer? What is the maximum number who believes in a single company? What is the name of that company? Why they believe on that company? How they select that company. Means are they satisfied with that company? What is the normal investment of investor? What further services investor wants? What is the profession of that normal investor?

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RESULT AND FINDINGS

Are you aware of the share market?

140 120 100 80 60 40 20 0

140

60

AWARE

YES

NO

30% YES NO 70%

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 How you know the share market?

90 80 70 60 50 40 30 20 10 0

90

Number 30 5 Investor T.V 10 5 Others

Friend N.paper Others

4% 21% Investor T.V Friend 7% 4% 64% N.paper Others

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 If you dont know the share market,why?

20 15 10 5 0

20 17

10 Number 4

No interest Unaware market

F.problem Education Not secure market

28%

33%

No interest Unaware market F.problem Education

7% 17% 15%

Not secure market

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 How much year knowledge do you have of share market?

70 60 50 40 30 20 10 0 >1year 1-3year 15 25

68

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Time

3-5year

<5year

23%

11% 18% >1year 1-3year 3-5year <5year 48%

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 Which type of investment do you have in the share market?

80 70 60 50 40 30 20 10 0 Mutual fund 60

80

Number

0 Equity Commodity

0 Future/option

0% 43% Mutual fund Equity Commodity 57% Future/option

Which company did you select for investment? 42

40 35 30 25 20 15 10 5 0

40 35

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Stan.c ABN AMRO HDFC ICICI Kotak Franklin

9 3 2 4 1 3 5

HSBC SBI Reliance Others

Numbers

Stan.C 4% 27% 29% ABN AMRO HDFC ICICI Kotak Franklin 2% 1% 3% 1% 6% 2% HSBC 25% SBI Reliance Others

Why did you select this company?

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12 10 8 6 4 2 0 8

12

12

Only heard Better services 5 3 Specific field Growth Rate Convenience Less brokerage Numbers

8% 30%

0%

20%

Only heard Better services Specific field Growth Rate 29% Convenience Less brokerage

13%

How did you select this company?

44

35 30 25 20 15 10 5 0

35

Numbers

2 Representative Advertisment

1 Reference

2 Own research

5% 3%

5% Representative Advertisment Reference Own research 87%

Are you satisfied with this company?

45

30 25 20 15 10 5 0 2 Excellent Very good 9

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Number

1 Good Fair

0 Poor

3%0% 5% 23% Excellent Very good Good Fair 69% Poor

If investor has given a chance to change another company, it may be?

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120 100 80 60 40 20 0 STAN.C 16

110

44 30

NUMBERS

RELIANCE

FRANKLIN

DSPML

22%

8% STAN.C RELIANCE FRANKLIN

15% 55%

DSPML

Which type of investment does investor prefer in mutual fund? 47

120 100 80 60 40 20 0 SIP 30

110

NUMBER

LUMP SUM

21%

SIP LUM P SUM 79%

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 What is the normal investment in mutual funds?

60 50 40 30 20 10 0 1k-5k 18 40

58

NUMBERS 17 5 5k-10k 10k-25k 25k-50k 50k-1L 1 1L-2L 1 2L-5L 0 5L<

12%

10 % 4% 1%%

13%

1k-5k 5k-10k 10k-25k 25k-50k 29% 50k-1L 1L-2L 2L-5L 5L<

40%

49

 Which age is aggressive in investment?

80 70 60 50 40 30 20 10 0

78

40 Numbers 22

18-35 year

35-50year

50 &above

29% 18-35 year 35-50year 55% 16% 50 &above

What is the occupation of aggressive investor?

50

100 80 60 40 20 0

93

Numbers 19 8 Employed Self employed 12 8 House wife

Business Profession

9% 14%

6% Employed Self employed Business Profession House wife

6%

65%

What is the category of aggressive investors?

51

140 120 100 80 60 40 20 0

132

Numbers 8 Male Female

6%

Male Female

94%

CONCLUSION / SUGGESTION / RECOMMENDATIONS-

As according to survey 30% people is yet to be aware of share market. So it is a gap by filling which mutual fund selling can be

52

increased. As 30% people are not aware of share market so we can arise interest by personal visits, telephone calls, by advertisement and by all the media of communications. The time period about share market awareness shows that in a short span people are aware with share market. We should try to make a stable and long term relation with investors for long term sellings of mutual funds. Only 43% investors are investing in mutual fund so by filling this gap we can achieve rest 57% gap. This is just more than one time of existing investors. In NFOs standard chartered has collected more than targets, so it shows that investors are interested in to invest in NFOs. By offering new IPOs standard chartered can increase their market share. Investors wants time to time feedback of their investment, so by providing better services as (WMS) is providing by ABN AMRO bank, Standard Chartered Bank can increase their market share. The representative plays a better role in promotion of mutual funds so by selecting good & knowledgeable investment advisors any AMCs can improve their market scenario. Middle standard investors are more interested in to invest in mutual funds, so there is a potential to attract the high standard family for investment. Between 18 to 35 ages are more interested in investment because the want high return and they can take high risk so we can attract them to invest more in mutual funds.

STANDARD CHARTERED MUTUAL FUNDS AT A GLANCEFirstStan Chart Classic Equity Fund (D) Snapshot

53

Summary Info Fund Name :

Standard Chartered Mutual Fund AMC : Standard Chartered Asset Management Company Ltd Type : Open Category : Equity - Diversified Launch Date : 27-Jun-05 Fund Manager : Bobby Surendera Nath Net Assets:(Rs. 667.8
cr) NAV Details NAV Date 16-Jun-06 NAV : 11.41 Buy/Resale 11.67 Price : Sell/Repurchase 11.41 Price : Latest Payouts Dividends Bonus Ratio N.A N.A. Date N.A N.A. Performance(%)

Tax benefits : N.A Min. Investment(Rs.) : 5000 Increm.Investment(Rs.) 1 :

Scheme Return Category Avg Category Best Category Worst

16-Jun-06 1 Mth 3 Mth 6 Mth 1 Yr -21.09 -16.35 -3.22 0.00 -21.61 -16.13 -0.33 33.11 -8.68 -4.22 28.21 79.89 -30.49 -30.20 -21.66 -4.19

3 Yr 0.00 51.03 84.10 12.91

5 Yr 0.00 34.19 56.70 7.56

54

Asset Allocation 6.25% 92.05%

Top 10 Holdings Date : 31-May-06 1.70% Company Name Other Equities Reliance Inds. Infosys Tech. ONGC M&M BHEL Larsen & Toubro ITC Subex Systems Siemens % Hold 6.05 5.50 5.03 4.81 3.98 3.45 3.43 3.20 3.14 3.03

Cash & Cash Equivalents

Equity

Net Curr Ass/Net Receivables

SecondStan Chart Enterprise Equity Fund (D) Summary Info Fund Name : AMC : Standard Chartered Mutual Fund Standard Chartered Asset Management Company Snapshot

55

Ltd Type : Close Ended Category : Equity - Diversified Launch Date : 19-Apr-06 Fund Manager : Kenneth Andrade Net Assets:(Rs. 0 cr) NAV Details NAV Date 17-Jul-06 NAV : 10.22 Buy/Resale 10.22 Price : Sell/Repurchase 10.22 Price : Latest Payouts Dividends Bonus Ratio N.A N.A. Date N.A N.A. Performance(%)

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 5000 Increm.Investment(Rs.) 1 :

15-Jun-06 1 Mth 3 Mth 6 Mth 1 Yr Scheme Return 0.00 0.00 0.00 0.00 Category Avg -21.61 -16.13 -0.33 33.11 Category Best -8.68 -4.22 28.21 79.89 Category Worst -30.49 -30.20 -21.66 -4.19 Stan Chart Imperial Equity Fund (D) Summary Info Fund Name :

3 Yr 0.00 51.03 84.10 12.91

5 Yr 0.00 34.19 56.70 7.56 Snapshot

Standard Chartered Mutual Fund AMC : Standard Chartered Asset Management Company Ltd Type : Open Category : Equity - Diversified Launch Date : 30-Jan-06 Fund Manager : Kenneth Andrade Net Assets:(Rs. 380.93 cr) NAV Details 56

NAV Date 16-Jun-06 NAV : 9.01 Buy/Resale 9.21 Price : Sell/Repurchase 9.01 Price : Latest Payouts Dividends Bonus Ratio N.A N.A. Date N.A N.A. Performance(%) Scheme Return Category Avg Category Best Category Worst

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 5000 Increm.Investment(Rs.) 1 :

16-Jun-06 1 Mth 3 Mth 6 Mth 1 Yr -19.05 -9.90 0.00 0.00 -21.61 -16.13 -0.33 33.11 -8.68 -4.22 28.21 79.89 -30.49 -30.20 -21.66 -4.19

3 Yr 0.00 51.03 84.10 12.91

5 Yr 0.00 34.19 56.70 7.56

Asset Allocation 14.44% 81.18%

Top 10 Holdings Date : 31-May-06 4.38% Company Name Other Equities Hind. Lever Infosys Tech. Reliance Inds. BHEL TCS Pun. Natl. Bank Ashok Leyland St Bk of India Larsen & Toubro % Hold 7.47 5.29 5.09 4.86 3.64 3.37 3.36 3.05 2.89 2.85

Cash & Cash Equivalents

Equity

Net Curr Ass/Net Receivables

57

FourthStan Chart Premier Equity Fund (D) Summary Info Fund Name : Snapshot

Standard Chartered Mutual Fund AMC : Standard Chartered Asset Management Company Ltd Type : Open Category : Equity - Diversified Launch Date : 5-Sep-05 Fund Manager : Ajay Bodke Net Assets:(Rs. 255.93 cr) NAV Details NAV Date 16-Jun-06 NAV : 9.30 Buy/Resale 9.51 Price :

58

Sell/Repurchase 9.30 Price : Latest Payouts Dividends Bonus Ratio N.A N.A. Date N.A N.A. Performance(%) Scheme Return Category Avg Category Best Category Worst

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 25000 Increm.Investment(Rs.) 1 :

16-Jun-06 1 Mth 3 Mth 6 Mth 1 Yr -30.49 -21.98 -5.68 0.00 -21.61 -16.13 -0.33 33.11 -8.68 -4.22 28.21 79.89 -30.49 -30.20 -21.66 -4.19

3 Yr 0.00 51.03 84.10 12.91

5 Yr 0.00 34.19 56.70 7.56

Asset Allocation 86.39%

Top 10 Holdings Date : 31-May-06 0.63% Company Name Bombay Ryn Fash EMCO Areva T&D Deccan Chronicle Other Equities RPG Transmission Mah. Seamless Mahindra Gesco Shree Renuka Sug TV 18 India % Hold 7.91 6.79 5.67 5.48 5.05 4.45 4.26 4.12 3.91 3.39

12.98%

Cash & Cash Equivalents

Equity

Net Curr Ass/Net Receivables

59

ABN AMRO EQUITY FUND-

ABN AMRO Equity Fund (D) NAV Date 19-Jun-06 NAV : 14.70 Buy/Resale 15.03 Price : Sell/Repurchase 14.70 Price : Latest Payouts Dividends Bonus Ratio 17.5 % N.A. Date 18-Apr-05 N.A. Performance(%) 1 Mth 3 Mth

Snapshot

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 5000 Increm.Investment(Rs.) 1 :

19-Jun-06 6 Mth 1 Yr

3 Yr

5 Yr 60

Scheme Return Category Avg Category Best Category Worst

-14.04 -13.81 -1.76 -23.79

-27.76 -14.67 -2.17 -29.37

-13.98 0.25 28.45 -20.32

23.32 36.45 83.69 0.18

0.00 50.50 83.57 13.65

0.00 34.60 57.50 7.98

Asset Allocation 99.93% 2.31%

Top 10 Holdings Date : 31-May-06 2.23% Company Name Reliance Inds. Infosys Tech. Grasim Inds. Bank of India Jaiprakash Assoc Crompton Greaves M&M Bajaj Auto TCS Voltas % Hold 6.43 4.85 3.63 3.53 3.24 3.22 3.15 3.05 3.05 3.05

Equity

Money Net Curr Market Ass/Net Instruments Receivables

61

PRUDENTIAL ICICI MUTUAL FUND-

Pru ICICI Emerging S.T.A.R. Fund (D) Summary Info Fund Name : Prudential ICICI Mutual Fund AMC : Prudential ICICI Asset Management Co Type : Open Category : Equity - Diversified Launch Date : 6-Sep-04 Fund Anil Sarin Manager : Net Assets: 955.11 (Rs. cr) NAV Details NAV Date 19-Jun-06 NAV : 16.00 Buy/Resale 16.36 Price : Sell/Repurchase 16.00 Price : Latest Payouts Dividends Bonus Ratio 30 % N.A. Date 15-May-06 N.A. Performance(%) 1 Mth 3 Mth

Snapshot

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 100000 Increm.Investment(Rs.) 1 :

19-Jun-06 6 Mth 1 Yr

3 Yr

5 Yr

62

Scheme Return Category Avg Category Best Category Worst Asset Allocation 20.12% 77.42%

-20.32 -13.81 -1.76 -23.79

-17.75 -14.67 -2.17 -29.37

-0.48 0.25 28.45 -20.32

46.11 36.45 83.69 0.18

0.00 50.50 83.57 13.65

0.00 34.60 57.50 7.98

10.73%

10.02%

3.17%

Top 10 Holdings

Date : 31May-06

Cash & Call

Equity

Company % Hold Name Deccan 3.50 Chronicle Mahindra 3.01 Gesco Net Curr Nifty Term Subex 2.69 Ass/Net Futures Deposits Systems Receivables Lloyd 2.57 Electric Aban Loyd 2.46 Chiles Ramco 2.30 Inds. Graphite 2.12 India Mukand 2.07 India 1.98 Cements Sterlite 1.87 Optical

HDFC MUTUAL FUNDS63

HDFC Core & Satellite Fund (D) Summary Info Fund Name : AMC :

Snapshot

HDFC Mutual Fund HDFC Asset Management Company Ltd Type : Open Category : Equity - Diversified Launch Date : 20-Aug-04 Fund Manager : Dhawal Mehta Net Assets:(Rs. 737.59 cr) NAV Details NAV Date 19-Jun-06 NAV : 17.71 Buy/Resale N.A Price : Sell/Repurchase N.A Price : Latest Payouts Dividends Bonus Ratio 22.5 % N.A. Date 13-Jan-06 N.A. Performance(%)

Investment Details Tax benefits : N.A Min. Investment(Rs.) : 5000 Increm.Investment(Rs.) 100 :

Scheme Return Category Avg Category Best Category Worst Asset Allocation

19-Jun-06 1 Mth 3 Mth 6 Mth 1 Yr -12.54 -11.90 6.69 50.77 -13.81 -14.67 0.25 36.45 -1.76 -2.17 28.45 83.69 -23.79 -29.37 -20.32 0.18

3 Yr 0.00 50.50 83.57 13.65

5 Yr 0.00 34.60 57.50 7.98

Top 10 Holdings Date : 31-May-06 Company Name Infosys Tech. % Hold 7.10 64

98.05%

5.40%

3.45%

Equity

Money Net Curr Market Ass/Net Instruments Receivables

Satyam Computer Crompton Greaves ITC Tata Motors Hind.Zinc Hindalco Inds. BHEL St Bk of India Reliance Inds.

6.80 6.32 6.00 5.88 5.87 5.83 5.81 5.19 5.17

SECURITIES AND EXCHANGE BOARD OF INDIA

Trends in Transactions on Stock Exchanges by Mutual Funds (since January 2000)
Equity (Rs in Crores) Debt (Rs in Crores)

65

Gross Purchase

Gross Sales

Net Purchase/ Sales

Gross Purchase

Gross Sales

Net Purchase/ Sales

Jan 2000-March 2000. April 2000 -March 2001. April 2001-March 2002. April 2002-March 2003 April 2003-March 2004 April 2004-March 2005 April 2005-March 2006 April 2006. May 2006. June 2006 (upto 19th) Total (April - June '06)

11070.54 17375.78 12098.11 14520.89 36663.58 45045.25 100389.3 12752.47 18345.43 4336.33

11492.19 20142.76 15893.99 16587.59 35355.67 44597.23 86083.64 9631.91 10452.07 6515.26

-421.65 -2766.98 -3795.88 -2066.7 1307.91 448.02 14305.66 3120.56 7893.36 -2178.93

2764.72 13512.17 33583.64 46663.83 63169.93 62186.46 109622.5 11227.96 15386.47 9203.9

1864.29 8488.68 22624.42 34059.41 40469.18 45199.17 73003.67 6800.08 7774.06 5375.13

900.43 5023.49 10959.22 12604.42 22700.75 16987.29 36618.84 4427.88 7612.41 3828.77

35434.23

26599.24

8834.99

35818.33

19949.27

15869.06

Trends in Transactions on Stock Exchanges by Mutual Funds

(Provisional and subject to revision) June 2006

66

Equity (Rs in crores) Gross Purchases 496.74 363.81 219.86 323.36 296.5 475.92 362.06 256.38 143.54 126.99 461.75 517.62 291.8 4336.33 Gross Sales 371.15 473.24 637.28 581.07 514.07 707.4 664.85 268.78 435.91 465.2 454.6 597.25 344.46 6515.26 Net Purchases / Sales 125.59 -109.43 -417.42 -257.71 -217.57 -231.48 -302.79 -12.4 -292.37 -338.21 7.15 -79.63 -52.66 -2178.93

Debt (Rs in crores) Gross Purchases 621.34 264.41 120.11 367.79 652.08 668.4 1184.44 961.77 983.33 887.31 933 430.85 1129.07 9203.9 Gross Sales 734.37 233.91 288.19 283.21 517.65 335.37 474.34 244.02 419.57 578.83 596.66 357.43 311.58 5375.13 Net Purchases/ Sales -113.03 30.5 -168.08 84.58 134.43 333.03 710.1 717.75 563.76 308.48 336.34 73.42 817.49 3828.77

Transaction Date 01.06.06 02.06.06 05.06.06 06.06.06 07.06.06 08.06.06 09.06.06 12.06.06 13.06.06 14.06.06 15.06.06 16.06.06 19.06.06 Total

NUMBER CRUNCHING

Source- Business Standard, 14th June

67

 Just 10% professionals and businessmen invested in shares 87%consider life insurance policies as the most preferred investment avenue. 39% invest in bank deposits. 22% in NSC/NSS/PPF 11%in MFs, 10% in equities 9% in pension plans 4% in company deposits, bonds, UTI, chit funds 1% in debentures.

IPO ACTIVITY REBOUNDS IN 2004

68

 Increasing rate of coming IPO, s shows the development of Indian economy as well as of equity markets.

ITS A BULL GUIDE CHART WHICH SHOWS THE BULLISH AND BEARISH TRENDS OF EQUITY MARKETS A GREEN dot on the chart means the market is in a BULLISH trend. A RED dot on the chart means the market is in a BEARISH trend. The chart is based on the percentage of charts on our site that are in an up trend as well as how fast that % is changing.

69

CONCLUSION / REASONS
100% foreign direct investments is allowed in the construction sector Under automatic route. Minimum equity investment cap of $ 10 Million for 100% FDI projects and $ 5 Million in joint ventures. Foreign investors only barred from trading in undeveloped land. 70

 The government policy would lead to more capital inflows to real estate. Some of the foreign players active in India Lee Kim Tah, Chennai Keppel Land, Bangalore Increasing numbers of shopping malls. Potential entry of Real Estate Mutual funds and Real Estate investment Trusts. A large young population will graduate into the working class over the next decade. They will enjoy enhanced employment opportunities in a booming services sector. Strong demand driver for consumption goods including housing, consumer goods, vehicles etc. Multiplier effects of infrastructure spending on the economy due to additional demand for materials such as: Cement Steel Capital goods/other equipment Traditional outsourcing segments like IT and Pharmaceuticals continue to experience robust growth. Natural resource companies beginning to export. Source- PRUDENTIAL ICICI (PORTFOLIO MANAGEMENT SERVICES)

APPENDICES-

71

 Daily bull guide chart About mutual funds IPO numbers Reasons to invest in mutual funds Trends of transactions of mutual funds in stock market.

BIBLIOGRAPHY-

72

 By self prepared questionnaire. www.standardcharteredmf.com www.utibank.com Fund fact sheet of standard chartered bank, ABN AMRO bank, HDFC bank. News paper- Business Standard Economic Times

GLOSSARY

OJTNAV-

On the job training Net Asset Value

73

STAN.CAMCABNMFIPO-

Standard Chartered Bank Asset Management Company Adlede Bank of Netherlands Mutual fund

Initial public offer

74

ON THE JOB
TRAINING

75

ON THE JOB TRAINING

1 2 3 4 5 6 7

OBJECTIVE TARGET/TASK STRATEGY ACHIEVEMENTS MID- COURSE CORRECTION LIMITATION CONCLUSION

76

ON THE JOB TRAINING-

I have gotten on the job training as to sell mutual funds in Delhi State. In this OJT i have to walk around 100 to 200 km daily for attending the appointments. In this OJT I have to work with ABN AMRO Bank as a representative of Standard Chartered Bank and to sell the mutual fund of both the banks. Objective The objective of the OJT is to work with team. Means to develop the teamwork. To be familiar with the organizational culture. As we are getting targets and we have to achieve the targets on monthly as well as daily basis so it proves us to be a result oriented trainee. If we failed to achieve the targets our company guide will pressurize us. By this we are learning organizational pressure. As I am interacting with the customers on daily basis so I am learning and developing my selling and marketing skills. As I am working with a multi national bank so now I am familiarizing with corporate etiquettes, dressing, behaviour
77

etc. As I am in a metro city so I am familiarizing with the environment of New Delhi.

Target

I have to sell the mutual fund of Standard Chartered Bank as well as of ABN AMRO Bank . I get the leads from tell callers on daily basis and have to visit there for giving them complete information about mutual fund and try to convert them as a final investor. So there is no any specific target regarding OJT. But I have made my target on myself as to sell the mutual fund of six lakh rupee in four month. I will sell one lakh and fifty thousand rupee mutual fund on monthly basis. As I am trying to convert maximum leads in final investor so it is also as a target to me to convert maximum leads. Strategy I have decided to complete my OJT from my following strategy I will personally call to the prospective customer and will try to get the appointment from them of same day or any day. If I will get the appointment then I will visit to the investor. If customer is not interested on phone call then I will try to get future appointment from him. Provide him all the information regarding mutual funds .
78

 I always tries to find the investors interest then provide him investment option according to his interest. Either investor will invest immediately or I follows up to him time to time. Achievement I have made my target on myself as to sell the mutual fund of six lakh rupee in four month. I will sell one lakh and fiftythousand rupee mutual fund on monthly basis. I have already achieved my four months target within one month of my SIP. Right now i am on five lakh fourty five thousand rupee. It is highest not only in my team but also in other college training students. I have converted the maximum number of application in my whole team. Within one month I have converted more than thirty applications. Many of the investors are in follow up. Four times i have heard the congratulation word by my company guide as well as by my officer. One time my officer left me at my home by her car. I have gotten a nice party by my officer in a three star hotel for this job. Another party will be very soon announcing. I have gotten appreciation letter by my manager and her best regards for my future. My team leader has written some lovely letters on my daily log book. Head of ABN AMRO Bank has already promised me to provide me job whenever I will be able to join the corporate
79

field.

Mid-course correctionThere is no any mid course correction for the target but i myself has decided the new target for me to sell the mutual fund of six lakh rupee in my four month of SIP.

LimitationsThis on the job training is limited to sell the mutual fund only. we are focusing only to sell the mutual fund in spite we are getting other customers like credit card, insurance etc. we transfers it to the other employees. Problems I face1-Unfamiliar location-when i came in Delhi it was totally new for

me ,for going to attend client i several time walked on foot ten to fifteen kilometers but after passing of one month i can say that i born in Delhi. Now i knew number of areas of Delhi. I can go any where in Delhi.
2-Transporation problem- At starting i did not know the bus

numbers so numbers of times i stand on bus stop and waiting for bus even bus was standing there. Now i know the bus number and easily i can give information to others about buses. 3- Lunch - Number of times i am on meeting with client or in the way to reach the client at appointed time. Due to this i was unable to get
80

lunch and i passed day without lunch.

What I did to improve my performance-?

Tried to make familiar relations with the client. Never told lie about the product to them. Gives them time-to-time feedback about their investment so they can invest more. If some one is not interested in invested then also give them smile and thank you. Some investors havent gotten their statement, providing them their investment personally by getting it from bank itself.

81

Conclusion-

How I improved or can improve my performance Now I am familiar with location. If I will get monetary benefit. If company will provide lunch. If I will get bike then I can show just double of this OJT

Now I can say that after getting four months training from ICFAI National College, I can easily do job in metro cities. I am with full Confidence with the corporate fields.

82