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Comparative study on performance of Equity Schemes of Reliance Mutual Fund.
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THE MUTUAL FUND

Mutual Funds are dynamic financial institutions, which play a crucial role in an economy my mobilizing a link between savings and the capital market. Therefore the activities of Mutual Funds have both short and long term impact on the savings and capital markets and the national economy. Mutual Funds thus assist the process of financial deepening and intermediation. They mobilize Funds in the savings market and act as complementary to banking, at the same time they also compete with banks and other financial institutions. In the process stock market activities are also significantly influenced by Mutual Funds. The scope and efficiency of Mutual Funds are influenced by overall economic fundamentals, the interrelationship between the financial and real sector, the nature of development of the savings and capital markets, market structure, institutional arrangements and overall policy regime.
MEANING A MUTUAL FUND IS A COMMON POOL OF MONEY INTO WHICH THE INVESTORS PLACE THEIR CONTRIBUTIONS THAT ARE TO BE INVESTED IN ACCORDANCE WITH A STATED OBJECTIVE. Mutual fund is a mechanism for pooling the resources by issuing units to the investors And investing funds in securities in accordance with objectives as disclosed in offer document Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in the same direction in the same proportion at the same time. Mutual fund issues units to the investors in PRAVEEN JAIN
accordance with quantum of money invested by them. Investors of mutual funds are known as unit holders. The investors in proportion to their investments share the profits or losses. The mutual funds normally come out with a number of schemes with different investment objectives, which are launches from time to time. A mutual fund is required to be registered with Securities and Exchange Board of India (SEBI), which regulates securities markets before it can collect funds from the public
STRUCTURE OF MUTUAL FUND IN INDIA:
Trustees Operations
SEBI AMC
Sponsor
Fund Manager
Market / Sales
Mutual Fund Schemes Investor
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GROWTH OF MUTUAL FUNDS: The Indian mutual fund as passed through three phases. The first phase was between 1964 and 1987 and only player was the trust of India, which had a total asset of Rs. 6700/- crores and the end of 1988.the second phase is between 1987 and 1993 during which period 8 funds were established (6 by banks and one each by LIC and GIC). The total asset under management had grown to Rs.61, 028/- crores at and of 1994 and the numbers of schemes were 167. The third began with the entry of private and foreign sectors in the mutual fund industry in 1993. Kothari pioneer mutual fund was the first fund to be established by the private sector in association with a foreign fund. As at the end of financial year 2000 (31 march) 32 funds were functioning with Rs. 1,13,005 crores as total asset under management. As on august end 2000, there were 33 with 391 schemes and assets under management with Rs. 1,02,849 crores. The securities and exchange board of India (SEBI) came out with comprehensive regulation in 1993, which defined the structure of mutual fund and asset management companies for the first time. Currently there are 34 of mutual fund organizations in India managing over Rs.1, 02,000/crore First investors pool their money in Mutual fund through franchisee or agents or himself in particular scheme. Fund manager collect that money and diversify that money in different securities. Then that securities generate return.
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That returns will passed back to the investors.
REASONS BEHIND GROWTH

Professional Management: Qualified professionals manage your money but they are not alone. They have a research team that continuously analyses the performance and prospects of companies. They also select suitable investment to achieve the objective of the scheme, so you see that it is a continues process that takes time and expertise that will add value to your investment. These fund managers are in a better position to manage investments and get a higher return. Diversification: the Clich, Dont put all your eggs in one basket. Really applies to the concept of intelligent investing. Diversification lowers the risk of loss by spreading your money across various industries it is a rare occasion when all stocks decline at the same time and in the same proportion. Choice of schemes: Mutual Fund offers a variety of schemes that will suit individuals needs over a lifetime. When you enter a new stage in your life, all you need to do is sit down with your investments advisers who will help you to re-arrange your portfolio to suit your altered life style. Affordability: As small investors, we may find that it is not possible to buy shares of larger corporations. Mutual funds generally buy and sell securities in large volumes, PRAVEEN JAIN
which allow investors to benefit from lower trading costs. The smallest investor can get started on mutual funds because of the minimal investment requirements. We can invest with a minimum of Rs. 500 in Systematic Investment Plan (SIP) on a regular basis. Tax benefits: Investments held by investors for a period of 12 months or more qualify for capital gains and will be taxed accordingly. These investments also get the benefit of indexation. And also the dividend received by an investor is tax free in the hands of investors. Liquidity: with open-end funds, we can redeem all or part of investment any time when we wish and receive the current value of the shares or the NAV related price. Funds are more liquid than most investments in shares, deposits and bonds and the process is standardize, making it quick and efficient so that we can get your cash in hand as soon as possible. Rupees Cost Averaging: Through using this concept of investing the same amount regularly, mutual funds give you the advantage of getting the average unit price over the long-term. This reduces your risk and also allows you to discipline yourself by actually investing every month or quarterly and not making sporadic investments. The Transparency of Mutual Funds: The performance of a mutual fund is reviewed by various publications and rating agencies, making it easy for investors to compare one to the other. Once we became part of mutual fund scheme, we were provided with regular PRAVEEN JAIN
updates, for example daily NAVs, as well as information on the specific investments made and the fund managers strategy and out look of the scheme. Regulations of Mutual Funds: All mutual funds are required to register with SEBI. They are obliged to follow strict regulations designed to protect investors. All operations are also regularly monitored by the SEBI.
ABOUT RELIANCE MUTUAL FUND Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settlor/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee. RMF has been registered with the Securities & Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund has been changed to Reliance Mutual Fund effective 11th. March 2004 vide SEBI's letter no. IMD/PSP/4958/2004 date 11th. March 2004. Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities. The main objectives of the Trust are :
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To carry on the activity of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings and investments for people in India and abroad and also ensure liquidity of investments for the Unit holders;
To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings
To take such steps as may be necessary from time to time to realize the effects without any limitation
Vision, Mission & Market Strategy

Vision statement Empowering everyone to live their dream Mission statementTo offer unparalleled value by providing the customer transparent, convenient and effective anytime-anywhere integrated financial transaction capability Marketing strategy- to provide Simple, easy-to-understand, safe and secure trading platform/software Uncomplicated, easy-to-understand brokerage/trading cost structure without any riders Easy access to the financial market through convenient modes of distribution Sound, genuine, unbiased advise individual investments.
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LITERATURE REVIEW
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Tables for fund size Reliance Mutual Fund Equity schemes

Scheme name Reliance Equity Fund (G) 4359.6 Reliance Equity Opportunities Fund (G) 2385.65 Reliance Growth Fund (G) 3263.71 Reliance Vision Fund (G) 2473.68 Reliance Tax Saver (ELSS) Fund (G) 1501.78 08/23/05 ETS 09/07/95 ED 09/08/95 ED 03/07/05 ED 03/07/06 ED Fund size DOI FUND CLASS
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1. Return:
Name of Scheme Reliance Growth Fund (G)
DOI (30/03/07) 199.52
Returns (annualized) 1 yr 48.21 50.45 47.48 2yr 93.23 62.62 106.91 3yr 80.40 60.56 53.02 4yr 27.21 34.41 29.77 5yr 53.64 81.42 18.07
5yrs Avg return 60.54 57.89 51.05
Reliance Vision Fund (G) 137.65 Reliance Tax Saver (ELLS) Fund(G) 115.193 Reliance Equity 45.4206 Reliance Equity Fund (G) 26.52 32.47 39.03 28.00 9.97 0.00 27.37 48.24 63.85 70.46 32.17 -2.24 42.50 Opportunities Fund (G)
NAVt NAVt-1 Portfolio return: Rit =--------------------------------NAV t-1

Where Rit is the difference between Net Asset Values for two consecutive days dividend by the NAV of the preceding day.
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2. Risk
Beta
5 years avg return* Beta 60.54 57.89 51.05 42.50 27.37 0.91 0.98 0.93 0.96 0.94
Scheme name Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Tax Saver (ELLS) Fund(G) Reliance Equity Opportunities Fund (G) Reliance Equity Fund (G) * Returns are annualized
n xy-( x)( y)
2
n x2-( x)
Where n= number of days
X =rolling returns of the NSE index Y= rolling returns of the schemes Beta describes the relationship between the stocks return and the index returns. it describes the risk in the portfolio with comparing market risk as 1 . If beta =1 PRAVEEN JAIN
One percent changes in market index return causes exactly one percent change in the stock returns. it indicates that the stock moves in tandem with the market . If Beta <1 Then the stock is less volatile compared to the market. If Beta >1 Then the stock is more volatile compared to the market. The stock value With more then 1 beta value is considered to be risky. If Beta ve: native Beta indicates that the stock returns moves in the opposite direction to the market return.
Standard deviation
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It is used to measure the variation in individual returns from the average expected returns over a certain period. Standard deviation is used in the concept of risk of a portfolio of investments. Higher standard deviation means a greater fluctuation in expected return. Returns (annualized) Name of Scheme Reliance Growth Fund (G) 199.52 Reliance Vision Fund (G) 137.65 Reliance Tax (ELLS) Fund(G) Reliance Saver 115.193 Equity 45.4206 Reliance Equity Fund (G) 26.52 32.47 39.03 28.00 9.97 0.00 27.37 14.59 48.24 63.85 70.46 32.17 -2.24 42.50 26.00 Opportunities Fund (G) 47.48 106.91 53.02 29.77 18.07 51.05 30.59 50.45 62.62 60.56 34.41 81.42 57.89 15.43 48.21 93.23 80.40 27.21 53.64 60.54 23.55 DOI (30/03/07) 1 yr 2yr 3yr 4yr 5yr 5yrs Avg return SD
Standard deviation (SD) =\/ var
Where Var = variance
Var= p (ri-E(r)) 2
Return & Risk
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Name of Scheme Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Tax Saver (ELLS) Fund(G)
5 yrs avg DOI(30/03/07) returns sd 3263.71 2473.68 1501.78 60.54 57.89 51.05 42.50 27.37 23.55 15.43 30.59 26.00 14.59
beta 0.91 0.98 0.93 0.96 0.94
Reliance Equity Opportunities Fund (G) 2385.65 Reliance Equity Fund (G) 4359.6
Sharpes
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Sharpes index measures the risk premium of the portfolio relative to the total amt of risk in the portfolio. This risk premium is the difference between the portfolios average rate of return and the risk less rate of return. The index assigns the highest values to assets that have best riskadjusted average rate of returns
Name of Scheme Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Tax Saver (ELLS) Fund(G) Reliance Equity Opportunities Fund (G) Reliance Equity Fund (G) Where st =Sharpes index Rp=portfolio return Rf=Risk free rate of return (8 %) SD= standard deviation of the port folio
5 yrs avg returns DOI(30/03/07) rp rf 3263.71 2473.68 1501.78 2385.65 4359.6 60.54 57.89 51.05 42.50 27.37 8 8 8 8 8
sd 23.55 15.43 30.59 26.00 14.59
st 2.23 3.23 1.40 1.33 1.32
St= RP-Rf
SD
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Sharpe's Ranking to Reliance Equity Diversified Schemes

3.5 3 Performance 2.5 2 1.5 1 0.5 0 Sharpes Schemes Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Tax Saver (ELLS) Fund(G) Reliance Equity Opportunities Fund (G) Reliance Equity Fund (G)
Interpretation: Reliance Vision Fund (G) is performing well and is ranked No 1 according to Sharpes as it is giving higher returns compared to other Schemes.
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Treynors Index:
5 yrs avg returns DOI(30/03/07) rp rf 3263.71 2473.68 1501.78 2385.65 4359.6 60.54 57.89 51.05 42.50 27.37 8 8 8 8 8
Name of Scheme Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Tax Saver (ELLS) Fund(G) Reliance Equity Opportunities Fund (G) Reliance Equity Fund (G)
Beta 0.91 0.98 0.93 0.96 0.94
tn 57.74 50.91 46.29 35.94 20.61
In Treynors higher the ratio higher the performance. Tn =Treynors index Rp=portfolio return Rf=Risk free rate of return (8 %) Formula
Tn= RP-Rf
Beta
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Treynors Ranking on Reliance Equity Diversified Fund

70 60 50 40 30 20 10 0 Treynors Schemes Reliance Tax Saver (ELLS) Fund(G) Reliance Equity Opportunities Fund (G) Reliance Equity Fund (G) Reliance Growth Fund (G) Reliance Vision Fund (G)
Interpretation: Reliance Growth Fund (G) is performing well and is ranked No 1 according to Treynors index as it is giving higher returns compared to other Schemes according to him and also the risk involved is less
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Performance Evaluation Tables
Name of the scheme

Reliance Growth Fund (G) Reliance Vision Fund (G) Reliance Fund(G) Reliance Fund (G) Reliance Equity Fund (G) Tax Equity Saver (ELLS)
DOI (30/06/06) Rp 3263.71 2473.68 1501.78
Beta
SD
Sharpes Treynors 57.74 50.91 46.29 35.94 20.61
60.54 0.91 57.89 0.98 51.05 0.93 42.50 0.96 27.37 0.94
23.55 2.23 15.43 3.23 30.59 1.40 26.00 1.33 14.59 1.32
Opportunities 2385.65 4359.6
Analysis of Survey
1.Sources from Investors came to know about Reliance Mutual fund
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Frequency Valid Friends/Relatives Newspapers/ Televisions Brokers/Agents Financial Consultants Total 12 7 16 15 50
Percent 24.0 14.0 32.0 30.0 100.0
Valid Percent 24.0 14.0 32.0 30.0 100.0
Cumulative Percent 24.0 38.0 70.0 100.0
Sources from Investors came to know about Relaince Mutual fund

20
10
Frequency
0 Friends/Relatives Brokers/Agents Financial Consultant New spapers/Televisio
Sources from Investors came to know about Relaince Mutual fund
Interpretation: For the popularity of the mutual funds all the means contributed all most equally but the dominated factor in these factors is advice from the Brokers/Agents, which contributed around 32% followed by the financial agents at 30%.
2.Reliance Schemes most preferred by investors
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Frequency Percent Valid Equity Debt Total 30 20 50 60.0 40.0 100.0
Valid Percent 60.0 40.0 100.0
Cumulative Percent 60.0 100.0
Reliance Schemes most preferred by investors

40
30
20
Frequency
10
0 Equity Debt
Reliance Schemes most preferred by investors
Interpretation: 60% of the respondents prefer equity schemes as investors now days are ready to risk because they are getting good returns, whereas 40% of the respondents prefer debt schemes.
. 3a.Reliance equity fund
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Frequency Percent Valid 1 2 4 5 Total 9 1 30 10 50 18.0 2.0 60.0 20.0 100.0
Valid Percent 18.0 2.0 60.0 20.0 100.0
Reliance equity fund

70 60 50 40 30 20
Percent
10 0 1 2 4 5
Reliance equity fund
Interpretation: Reliance equity fund is ranked 4 th by majority of the Investors as the returns are not so high compared to the other Schemes of Equity.
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3b.Reliance equity Opportunity fund Frequency Percent Valid 1 2 4 5 Total 1 9 10 30 50 2.0 18.0 20.0 60.0 100.0 Valid Percent 2.0 18.0 20.0 60.0 100.0 Cumulative Percent 2.0 20.0 40.0 100.0
Reliance equity Oppurtunity fund

70 60 50 40 30 20
Percent
10 0 1 2 4 5
Reliance equity Oppurtunity fund
Interpretation: Reliance Equity opportunity fund is ranked 5th by 60% of the Investors investing in Reliance mutual fund as the returns are low and also riskier compared to other 4 schemes.
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3c.Reliance Growth fund Frequency Valid 1 2 3 4 Total 26 3 18 3 50 Percent 52.0 6.0 36.0 6.0 100.0 Valid Percent 52.0 6.0 36.0 6.0 100.0 Cumulative Percent 52.0 58.0 94.0 100.0
Reliance Growth fund

60
50
40
30
20
Percent
10 0 1 2 3 4
Reliance Growth fund
Interpretation: Reliance growth fund is ranked 1 by 50% of the Investors with repect to other schemes
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3d. Reliance Vision fund
Frequency Valid 1 2 3 4 5 Total 2 24 16 7 1 50
Percent 4.0 48.0 32.0 14.0 2.0 100.0
Valid PercentCumulative Percent 4.0 4.0 48.0 52.0 32.0 84.0 14.0 98.0 2.0 100.0 100.0
Reliance Vision fund

60
50
40
30
20
Percent
10 0 1 2 3 4 5
Interpretation:
is ranked 2nd by most of the Investors investing in Reliance mutual
fund as compared to other long term schemes
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3e.Reliance Tax Saver-ELSS
Frequency Valid 1 2 3 5 Total 12 14 15 9 50
Percent 24.0 28.0 30.0 18.0 100.0
Valid Percent 24.0 28.0 30.0 18.0 100.0
Reliance Tax Saver-ELSS

40
Interpretation:
30
Reliance Tax Saver-
20
is ranked 3rd by most of the Investors investing in Reliance mutual fund

ELSS
10
Percent
0 1 2 3 5
4a. Safety
Frequency Per Valid 1 2 5 6 Total 10 33 2 5 50
Reliance Tax Saver-ELSS
20. 66. 4.0 10. 100
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Safety
70 60 50 40 30 20
Percent
10 0 1 2 5 6
Safety
Interpretation: Out of the 50 respondents 66 % of them have rated 2 to safety because every investors needs safety in his investment made but also some of them have given least preference to safety because as we know higher the risk higher the return.
4b. Rate of Return
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Frequency Percent Valid 1 2 3 4 5 Total 33 9 1 2 5 50 66.0 18.0 2.0 4.0 10.0 100.0
Valid Percent 66.0 18.0 2.0 4.0 10.0 100.0
Cumulative Percent 66.0 84.0 86.0 90.0 100.0
Rate of Return
70 60 50 40 30 20
Percent
10 0 1 2 3 4 5
Rate of Return
Interpretation: 66% of the respondents have ranked rate of return as No 1 ranking this is because of the changing trend where people are ready to take risk but they expect good returns and higher return each time.
4c. Liquidity PRAVEEN JAIN
Frequency Valid 1 2 3 4 5 Total 2 1 9 26 12 50
Percent 4.0 2.0 18.0 52.0 24.0 100.0
Valid Percent 4.0 2.0 18.0 52.0 24.0 100.0
Liquidity
60
50
Interpretation: Out of the 50 respondents 52% of them

1 2 3 4 5
40
30
20
Percent
10
have as
ranked 4th ,
liquidity
Liquidity
whereas only 10% of
them have ranked 3rd which shows liquidity is given least preference when compared to other factors.
4d. Tax Benefit

Frequency Percent Valid 2 3 2 26 4.0 52.0 Valid Percent 4.0 52.0 Cumulative Percent 4.0 56.0
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4 5 6 Total
9 1 12 50
18.0 2.0 24.0 100.0
18.0 2.0 24.0 100.0
74.0 76.0 100.0
Tax Benefit
60
50
40
30
20
Percent
10
0 2 3 4 5 6
Tax Benefit
Interpretation: 52% of the respondents have ranked 3rd for tax benefit which shows people give importance for tax benefit as it saves the investors money.
4e. Brand name
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Frequency Percent Valid 2 3 4 5 6 Total 5 2 13 18 12 50 10.0 4.0 26.0 36.0 24.0 100.0
Valid Percent 10.0 4.0 26.0 36.0 24.0 100.0
Brand name
40
30
20
10
Percent
0 2 3 4 5 6
Brand name
Interpretation: 36% of the respondents have ranked 5 th to Brand which shows importance is given to brand name of the company in which investors are investing as it is shows the credit worthiness of the company.
4f. Flexibility PRAVEEN JAIN
Frequency Percent Valid 1 3 5 6 Total 5 12 12 21 50 10.0 24.0 24.0 42.0 100.0
Valid Percent 10.0 24.0 24.0 42.0 100.0
Flexibility
50
40
30
20
10
Percent
0 1 3 5 6
Flexibility
Interpretation: 42% of the respondents have ranked 6 th to Flexibility which shows not much importance is given to flexibility as far as investors are getting good return from the schemes.
5a. Reliance Mutual Fund

Frequency Percent Valid 1 14 28.0 Valid Percent 28.0 Cumulative Percent 28.0
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2 4 Total
34 2 50
68.0 4.0 100.0
68.0 4.0 100.0
96.0 100.0
Reliance Mutual Fund

80
60
40
20
Percent
0 1 2 4
Reliance Mutual Fund
Interpretation: Majority of the respondents have ranked Reliance mutual funds as 2 nd when compared to the other 4 companies so this shows that in a short span of time Reliance has made a good image in the eyes of the investors.
5b. HDFC Mutual Fund

Frequency Percent Valid Percent Cumulative Percent
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Valid
1 2 3 4 5 Total
2 1 35 9 3 50
4.0 2.0 70.0 18.0 6.0 100.0
4.0 2.0 70.0 18.0 6.0 100.0
4.0 6.0 76.0 94.0 100.0
HDFC Mutual Fund

80
60
40
20
Percent
0 1 2 3 4 5
HDFC Mutual Fund
Interpretation: Majority of the investors have ranked HDFC mutual fund as 3 rd when compared to other mutual fund so comparatively it is doing well.
5c. Franklin Templeton Mutual Fund
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Frequency Valid 2 3 4 Total 1 32 15 2 1 50
Percent 64.0 30.0 4.0 2.0 100.0
Valid Percent Cumulative Percent 64.0 64.0 30.0 94.0 4.0 98.0 2.0 100.0 100.0
Franklin templeton Mutual Fund

70 60 50 40 30 20
Percent
10 0 1 2 3 4
Franklin templeton Mutual Fund
Interpretation: Franklin has been ranked NO 1 mutual fund company by the respondents when compared to the other mutual funds as it has maintained its returns over a long period of time.
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5d. UTI mutual Fund

Frequency Valid 1 3 4 5 Total 1 10 5 34 50 Percent 2.0 20.0 10.0 68.0 100.0 Valid Percent 2.0 20.0 10.0 68.0 100.0 Cumulative Percent 2.0 22.0 32.0 100.0
UTI mutual Fund

80
60
40
Percent
20
0 1 3 4 5
UTI mutual Fund
Interpretation: Majority of the investors are not preferring UTI mutual funds as their returns are very low when compared to their previous records and so it is been ranked 4th by the investors.
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5e. ICICI mutual fund

Frequency Percent Valid 1 3 4 5 Total 1 3 33 13 50 2.0 6.0 66.0 26.0 100.0 Valid Percent 2.0 6.0 66.0 26.0 100.0 Cumulative Percent 2.0 8.0 74.0 100.0
ICICI mutual fund

70 60 50 40 30 20
Interpretation: Majority of the investors are not
preferring UTI mutual funds as their returns are very low when
1 3 4 5
Percent
10 0
ICICI mutual fund
compared to other 3
companies but it is ranked 4th that shows it is performing good than UTI mutual fund.
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Findings
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32% of the Investors have come to know about Reliance mutual fund through Brokers/Agents followed by 30% who have come to know through Financial Consultants
60% of the Investors are giving more preference to Equity schemes as they are giving higher return whereas 40% of them prefer Debt Schemes because of the Safety they provide
52% of the investors prefer Reliance Growth Fund followed by Reliance Vision Fund and other Schemes.
66% of the investors give most importance to Rate of return as they expect higher and higher returns followed by Safety as it is also important aspect of investors.
Reliance Mutual Fund is Ranked 2nd by the Investors i.e. 68% of them have ranked Reliance as 2nd and Franklin Templeton is Ranked 1st.
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SUGGESTIONS
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Holding a seminar and presentations or Investors meet in the stock broking firm help the investors to remove any misconception regarding the Mutual Fund and this will create awareness of Mutual fund.
Agents are the main person who influences the investment decision. Company can hire fresh graduates train them and sponsor for the AMFI exam just like insurance companies who conduct IRDA training. This will increase the feet on street for the mutual fund companies.
Company has to provide timely services to its customers so that it can compete with its competitors like Franklin Templeton and HDFC.
CONCLUSION
After the analysis made on the performance of Equity Schemes of Reliance Mutual Fund I can conclude that Equity schemes are most preferred by Investors and overall Reliance Vision Fund and Reliance Growth scheme are doing extremely well in the market satisfying the customer wants of high returns and also through survey conducted it is clear that Reliance is performing quite well so it has been ranked 2nd among the selected companies. From the study we also came to know that according to Sharpe s Reliance Vision fund is ranked First but according to Treynors Reliance growth fund is ranked First.
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Bibliography
Reliance Fact Sheets Invest smart financial Journal Websites - www.myris.com - www.reliancemf.com - www.equitymaster.com
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Annexure
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QUESTIONNAIRE Dear Sir/Madam:
Personal Details:
Name Address Occupation Contact No : _____________________________________________ : _____________________________________________ : _____________________________________________ : _____________________________________________
1. How did you come to know about Reliance mutual Fund? Friends /Relatives Brokers/Agents Other_________________________ News papers / magazines Financial consultants.
. 2. Which Schemes of Reliance Mutual fund would you prefer the most? Equity Schemes Debt Scheme
3. Which Equity Scheme you prefer the most in Reliance Mutual Fund? PRAVEEN JAIN
(Rank them from 1 to 5, 1 being the most preferred and 5 being the least) Reliance Growth Reliance Vision Fund Reliance Equity Opportunity Fund Reliance Tax Saver (ELSS) Fund Reliance Equity Fund [ ] [ ] [ ] [ ] [ ]
4. What factors do you consider while investing in mutual fund? (Rank them from 1 to 6. No1 for preferred and No 6 for least preferred) Safety Liquidity Flexibility Rate of return Tax benefit Brand Name
5. How would you rate Reliance mutual fund when compared to the other mutual Fund? (Rank them from 1 to 5, 1 being the Highest & 5 being the lowest). Reliance HDFC Franklin Templeton UTI Pru ICICI [ ] [ ] [ ] [ ] [ ]
THANK YOU
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Details about top schemes

RELIANCE VISION FUND
Structure Inception Date Corpus Minimum Invst Fund Manager Entry Load Exit Load Investment Objective Open ended Equity Growth Scheme 08/10/1995 2473.68 crore 5000 Ashwini Kumar 2.25% Nil The primary investment objective of the scheme is to achieve long-term growth of capital by investment in equity and equity-related securities through a research-based investment approach.
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RELIANCE GROWTH FUND

Structure Inception Date Corpus Minimum Invst Fund Manager Entry Load Exit Load Investment Objective Open ended Equity Growth Scheme 08/10/1995 3263.71 5000 Sunil Singhania 2.25% Nil The primary investment objective of the scheme is to achieve long-term growth of capital by investing in equity and equity related securities through a research-based investment approach.
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RELIANCE TAX SAVER FUND

Structure Inception Date Corpus Minimum Invst Fund Manager Entry Load Exit Load Investment Objective Open ended Equity Growth Scheme 22/09/2005 1501.78 500 Ashwani Kumar 2.25% Nil The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity-related instruments.
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RELIANCE EQUITY OPPURTUNITY FUND

Structure Inception Date Corpus Minimum Invst Fund Manager Entry Load Exit Load Investment Objective Open ended Equity Growth Scheme 31/03/2005 Rs 2,385.65 crore 5000
.
Sailesh Raj Bhan
2.25% Nil The primary investment objective of the scheme is to seek to generate capital appreciation and provide long-term growth opportunities by investing in a portfolio constituted of equity securities & equity-related securities and the secondary objective is to generate consistent returns by investing in Debt and Money Market securities.
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RELIANCE EQUITY FUND

Structure Inception Date Corpus Minimum Invst Fund Manager Entry Load Exit Load Investment Objective Open ended Equity Growth Scheme 30/03/2006 Rs 4359.6 crore 5000
.
Sailesh Raj Bhan
2.25% Nil The primary investment objective of the scheme is to seek to generate capital appreciation and provide long-term growth opportunities by investing in a portfolio constituted opportunities by investing in a portfolio constituted of equity and equity related securities of top 100 companies by market capitalization and of companies which are available in the derivatives segment from time to time and the secondary objective is to generate consistent returns by investing in debt and money market securities.
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Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

THE MUTUAL FUND

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

STRUCTURE OF MUTUAL FUND IN INDIA:

Mutual Fund Schemes Investor

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

That returns will passed back to the investors.

REASONS BEHIND GROWTH

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Vision, Mission & Market Strategy

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Tables for fund size Reliance Mutual Fund Equity schemes

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Name of Scheme Reliance Growth Fund (G)

DOI (30/03/07) 199.52

5yrs Avg return 60.54 57.89 51.05

NAVt NAVt-1 Portfolio return: Rit =--------------------------------NAV t-1

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Standard deviation (SD) =\/ var

Where Var = variance

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

beta 0.91 0.98 0.93 0.96 0.94

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

sd 23.55 15.43 30.59 26.00 14.59

st 2.23 3.23 1.40 1.33 1.32

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Sharpe's Ranking to Reliance Equity Diversified Schemes

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Beta 0.91 0.98 0.93 0.96 0.94

tn 57.74 50.91 46.29 35.94 20.61

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Treynors Ranking on Reliance Equity Diversified Fund

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Performance Evaluation Tables

Name of the scheme

DOI (30/06/06) Rp 3263.71 2473.68 1501.78

Sharpes Treynors 57.74 50.91 46.29 35.94 20.61

Opportunities 2385.65 4359.6

Comparative study on performance of Equity Schemes of Reliance Mutual Fund.

Frequency Valid Friends/Relatives Newspapers/ Televisions Brokers/Agents Financial Consultants Total 12 7 16 15 50

Percent 24.0 14.0 32.0 30.0 100.0

Valid Percent 24.0 14.0 32.0 30.0 100.0

Cumulative Percent 24.0 38.0 70.0 100.0

Sources from Investors came to know about Relaince Mutual fund

0 Friends/Relatives Brokers/Agents Financial Consultant New spapers/Televisio

Sources from Investors came to know about Relaince Mutual fund

2.Reliance Schemes most preferred by investors