1.

INTRODUCTION:
1.1 Meaning of Investment:

Investment is the employment of funds on assets of investor with the aim of earning income or
capital appreciation. Investment means putting person money to work to earn more money or
simply speaking it is sacrificing of money today for future return.(Investment, n.d.)

Investment is one of the most successful way to make financial provisions for the future, where
most of the conditions of investment are uncertain and unpredictable. With well planned
investment one can get satisfaction of safety and surety in their life. Investment may be said as
keeping a sum of the money aside from the present savings with the view of earning returns on
investment. (Chaurasia, n.d.)

All the investments have some risk, whether in stock, financial sector, capital market, banking,
real estate, bullion, gold, silver etc. The degree of risk varies on the basis of the features of the
assets, investments instrument, the mode of investment, transparency, time frame or the issuer of
the security etc.(Chaurasia, n.d.)

Investing process is a serious subject that can have a major impact on investor's future wellbeing.
In India, everyone makes investments. Even if the individual does not select specific assets such
as stock, investments are still made through partaking in pension plan, and employee saving
programmes or through purchase of life insurance or a home or by some other mode of
investment like investing in Real Estate or in Banks or in saving schemes of post offices. Lowest
rate come from saving account, fixed deposits in assets such as banks While the highest rate
come from stocks, bond and other types of investments in assets such as real estate.(Chaurasia,
n.d.)

Each of this investment has common characteristics such as potential return and low risk. The
future is uncertain and unpredictable, and you must determine how much risk you are willing to
bear since higher return is associated with accepting more risk. The individual investor should
start by specifying investment goals. Once these goals are established, individual investor should
be aware of the mechanics of investing and the environment in which investment decisions are
made.(Chaurasia, n.d.)

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Today, the field of investment is more dynamic than it was only a decade ago. A successful
financial plan is to keep apart a larger amount of savings and invest it intelligently, by using a
longer period of time.(Chaurasia, n.d.)

1.1.1 Elements of Investment:

 Reward:
Investors may buy and sell financial assets in order to earn reward on them. The
better return known as reward from investments includes both current income and
capital gains or losses which arise by the increase or decrease of the security prices.
The incomes earned are treated as a percentage of the beginning investment. Reward
may be expressed as the total annual income and capital gain as a percentage of
investment. Satisfactory rewards are different for different people. (Deeksha
Bhardwaj, n.d.)
 Risk and Return:
Risk and return are inseparable. The investment process must be considered in terms
of both aspects -minimize risk and maximum return. Investor should keep risk
associated with the return proportional as risk is directly correlated with return. It is
generally believed that higher the risk, the greater the reward and the lowest risk, the
lowest reward. The entire process of estimating return and risk for securities are
known ‘Security Analysis’.(Deeksha Bhardwaj, n.d.)
 Time:
Time may involve and range from trading to purchasing and selling at major turning
points in the market. It may consider time period of investment such as long-term,
intermediate or short-term. Time period depends on the attitude of the individual
investor. Investments are examined over the time period; expected risk and potential
return are measured. The investor selects a time period and return that meet
expectations of return and risk.(Deeksha Bhardwaj, n.d.)

1.2 Meaning of Savings:

Savings are defined as the part of consumer’s disposable income which is not used for current
consumption. It is kept aside for future use. It is collected to meet the unexpected situations or
emergency requirements. Saving helps to make a person financially strong and secure. There are

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several ways to save money like, accumulating it in the form of cash holdings, or depositing it
into the savings account, pension account or in any investment fund.(Surbhi S., n.d.)

1.2.1 Key Differences between Savings and Investment:

The basic differences between savings and investment are explained in the following points:

 Savings means to set aside a part of your income for future use. Investment is
defined as the act of putting funds into productive uses, i.e. investing in such
investment vehicles which can reap money over time.
 People save money, to fulfil their unexpected expenses or urgent money
requirements. Conversely, investments are made to generate returns over the period
that can help in capital formation.
 With an investment, there is always a risk of losing money. Unlike savings, where
the no or comparatively fewer chances of losing the hard-earned money.
 Undoubtedly, the investment provides higher returns than savings, as there is a
nominal rate of interest on savings. However, the investments can earn money more
than the invested amount, if invested wisely.
 You can have access to your savings, anytime because they are highly liquid, but in
the case of investment you cannot have easy access to money because the process of
selling the investments takes some time.(Surbhi S., n.d.)

1.3 Investor:

An investor is a person that allocates capital with the expectation of a future financial return or to
gain an advantage. An investor is any person or other entity who commits capital with the
expectation of receiving financial returns. Investors utilize investments in order to grow their
money and/or provide an income during retirement, such as with an annuity.(James Chen, n.d.)

1.3.1 Types of Investors:

 Individual investors (including trusts on behalf of individuals, and umbrella

companies formed for two or more to pool investment funds)
 Collectors of art, antiques, and other things of value
 Angel investors, either individually or in groups

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  Venture capital funds which serve as investment collectives on behalf of individuals,
companies, pension plans, insurance reserves, or other funds.
 Investment bank
 Investment trusts
 Real estate investment trusts(James Chen, n.d.)

1.4 Investment Behaviour:

Investment behaviours are defined as how the investors judge, predict, analyses and review the
procedures for decision making, which includes investment psychology, information gathering,
defining and understanding, research and analysis. The whole process is “Investment
Behaviour”.(Slovic, 1972; Alfredo and Vicente, 2010)

Investment Behaviour explores the relationship between competing demographic factors,

personal awareness and perceived attitudes to risk in shaping the behaviour of individual
investors in the investment.

1.5 Mutual Funds:

“A mutual fund is an investment security that enables investors to pool their money together into
one professionally managed investment. Mutual funds can invest in stocks, bonds, cash or a
combination of those assets.” (Kent Thune, n.d.)

A Mutual fund is a professionally managed investment fund that pool of money collected from
investors and is invested according to certain investment options. A mutual fund is a trust that
pools the saving of number of investors to purchase securities who share a common financial
goal. A mutual fund is created when many investors put their money together.(Kent Thune, n.d.)

The money collected is then invested in capital market instruments such as debentures, shares
and other securities. The income or return earned through these investments and the capital
appreciations realized are shared by its unit holders in proportion to number of units owned by
them. (Kent Thune, n.d.)

The pool of funds held mutually by many investors is the mutual fund. This business is to invest
the funds thus collected according to the wishes of the investors who created the pool. Usually,
the investors appoint professional investment managers create a product for investment and offer
it for investment to the investors. A mutual fund is the most suitable investment for a common

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man as it offers an opportunity to invest in a diversified, professionally managed basket of
securities at relatively low cost with low cost. (Kent Thune, n.d.)

The mutual fund industry started in 1963 in India with the formation of Unit Trust of India (UTI)
at the initiative of the Reserve Bank of India (RBI) and the Government of India. The objective
was to attract small investors and introduce them to market investments. Later in the 1970s and
80s, UTI started innovating and offering different schemes to suit the needs of different classes
of investors. In 1987, many public sector banks and institutions were allowed to establish mutual
funds. In 1993, mutual fund industry began with the permission granted for the entry of private
sector funds. A comprehensive set of regulations for all mutual funds operating in India was
introduced with SEBI Regulations, 1996.(Know the history, structure, and advantages of Mutual
Funds - Moneycontrol.com, n.d.)

1.5.1 Features those Investors Like in Mutual Fund:

If mutual funds are emerging as the favourite investment vehicle it is because of the many
advantages. They have over other forms and avenues of investing parties for the investors who
has limited resources available in terms of Capital and ability to carry out detailed reserves and
market monitoring. These are the major advantages offered by mutual fund to all investors:
(Sudarmathi & Dr. Roa, 2015)

 Professional Management:
Mutual Funds provide the services of experienced and skilled professionals, backed by a
dedicated investment research team that analyses the performance and prospects of
companies and selects suitable investments to achieve the objectives of the scheme.
(Sudarmathi & Dr. Roa, 2015)
 Diversification:
Mutual Funds invest in a number of companies across a broad cross-section of industries
and sectors. This diversification reduces the risk because seldom do all stocks decline at
the same time and in the same proportion. You achieve this diversification through a
Mutual Fund with far less money than you can do on your own.(Sudarmathi & Dr. Roa,
2015)

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 Convenient Administration:
Investing in a Mutual Fund reduces paperwork and helps you avoid many problems such
as bad deliveries, delayed payments and follow up with brokers and companies. Mutual
Funds save your time and make investing easy and convenient. (Sudarmathi & Dr. Roa,
2015)
 Return Potential:
Over a medium to long-term, Mutual Funds have the potential to provide a higher return
as they invest in a diversified basket of selected securities. (Sudarmathi & Dr. Roa,
2015)
 Low Costs:
Mutual Funds are a relatively less expensive way to invest compared to directly investing
in the capital markets because the benefits of scale in brokerage, custodial and other fees
translate into lower costs for investors. (Sudarmathi & Dr. Roa, 2015)
 Liquidity:
In open-end schemes, the investor gets the money back promptly at net asset value
related prices from the Mutual Fund. In closed-end schemes, the units can be sold on a
stock exchange at the prevailing market price or the investor can avail of the facility of
direct repurchase at NAV related prices by the Mutual Fund.(Sudarmathi & Dr. Roa,
2015)
 Transparency:
You get regular information on the value of your investment in addition to disclosure on
the specific investments made by your scheme, the proportion invested in each class of
assets and the fund managers investment strategy and outlook.(Sudarmathi & Dr. Roa,
2015)
 Flexibility:
Through features such as regular investment plans, regular withdrawal plans and dividend
reinvestment plans, you can systematically invest or withdraw funds according to your
needs and convenience. (Sudarmathi & Dr. Roa, 2015)
 Affordability:

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 Investors individually may lack sufficient funds to invest in high-grade stocks. A mutual
fund because of its large corpus allows even a small investor to take the benefit of its
investment strategy. (Sudarmathi & Dr. Roa, 2015)
 Well Regulated:
All Mutual Funds are registered with SEBI and they function within the provisions of
strict regulations designed to protect the interests of investors. The operations of Mutual
Funds are regularly monitored by SEBI.(Sudarmathi & Dr. Roa, 2015)
1.5.2 Types of Mutual Funds:
 Based on Structure:
 Open-Ended mutual funds
Open-ended fund is the most common type of mutual fund available. Mutual fund houses
trade units of mutual funds at NAV (Net Asset Value). Open-ended funds provide exit
anytime for the investor and make pay out on the basis of the NAV, which is published
by the fund houses daily.(What are the Different Types of Mutual Funds in India?, n.d.)
 Close-Ended Mutual Funds
On closing of New Fund Offer (NFO), investors cannot trade their units. The price of the
closed-ended mutual funds is based on the demand and supply just like stocks. Closed-
ended mutual funds are not liquid and the prices are less than the normal price per unit
due to less volume of trading. Investors cannot enter nor exit from the scheme till the
term of the scheme ends.(What are the Different Types of Mutual Funds in India?, n.d.)
 Interval Funds
The funds which have a features-mix of open-ended and closed-ended are called interval
funds. Interval funds are closed funds with an option to transact funds directly for a
certain pre-decided period. They have open-ended feature during that pre-defined period
and close-ended for the rest of the time.(What are the Different Types of Mutual Funds in
India?, n.d.)
 Based on Asset Class:
 Equity Funds
Equity funds are mutual funds which invest majorly in equity stocks of the company.
Equity funds are considered to be risky but they tend to give higher returns in the long
term.(What are the Different Types of Mutual Funds in India?, n.d.)

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 Debt Funds
Debt funds are mutual funds which usually invest in the government securities, corporate
bonds etc. Debt funds are more stable and less volatile to the market conditions.(What
are the Different Types of Mutual Funds in India?, n.d.)
 Money Market Funds
A money market refers to the mutual funds that are highly liquid and where the money is
invested in short-term investments like deposits certificates, treasury bills etc. You can
have your money invested in money market funds for duration like a day.(What are the
Different Types of Mutual Funds in India?, n.d.)
 Balanced or Hybrid Funds
Balance or hybrid funds are a mix of equity and debt funds. They tend in to invest an
equal amount in equity and debt funds to keep the risk level balanced in the investment.
(What are the Different Types of Mutual Funds in India?, n.d.)
 Based on Investment Objective:
 Growth Funds
The money is invested in growth funds with the prime objective of getting a capital
appreciation. Although growth funds are risky, they tend to offer high returns in the long
run.(What are the Different Types of Mutual Funds in India?, n.d.)
 Income Funds
Money gets invested in fixed income instruments like government bonds and debentures
under income funds. The objective of the income fund is stable income on investment
with modern growth of capital.(What are the Different Types of Mutual Funds in India?,
n.d.)
 Liquid Funds
The money gets invested in short-term financial instruments like treasury bills, deposit
certificates for the purpose of providing ease of taking out money anytime. Liquid funds
are considered to be low risk with average returns and are ideal for people looking for
short-term investment.(What are the Different Types of Mutual Funds in India?, n.d.)

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1.5.3 Mutual Fund Houses in India:

 ICICI Prudential Mutual Fund

 HDFC Mutual Fund
 Reliance Mutual Fund
 Birla Sun Life Mutual Fund
 SBI Mutual Fund
 UTI Mutual Fund
 Kotak Mahindra Mutual Fund
 Franklin Templeton Mutual Fund
 DSP BlackRock Mutual Fund
 IDFC Mutual Fund
 Axis Mutual Fund
 DHFL Pramerica Mutual Fund
 Principal Mutual Fund
 Sundaram Mutual Fund
 BOI Axa Mutual Fund
 Invesco Mutual Fund
 Union Mutual Fund
 LIC Mutual Fund
 Taurus Mutual Fund
 JM Financial Mutual Fund
 Edelweiss Mutual Fund
 Baroda Pioneer Mutual Fund
 Essel Mutual Fund
 Aditya Birla Sunlife Mutual Fund
 Canara Robeco Mutual Fund

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  Mahindra Mutual Fund
 HSBC Mutual Fund
 Qauntum Mutual Fund
 Franklin Templeton Mutual Fund
 IDBI Mutual Fund
 PPFAS Mutual Fund
 Indiabulls Mutual Fund
 IIFL Mutual Fund
 Motilal Oswal Mutual Fund
 Escorts Mutual Fund
 TATA Mutual Fund
 BNP Paribas Mutual Fund
 L and T Mutual Fund
 Mirae Asset Mutual Fund(Shikhar Singh, n.d.)

1.5.4 Current scenario of mutual funds:

Indian Mutual Fund Industry is going through a very tough phase for the last months, specifically
for the last 12 months. Assets Under Management (AUM) of Indian Mutual Fund Industry
reached24 Trillion in 2018.(Arthikdisha, n.d.)

Investors were eyeing for 2019 Parliament election and voted for Modi 2.0 immensely for high
growth and higher returns from the equity market. But the recent policy analysis as per the
industry experts, the global slowdown, low domestic consumption, weaker vehicle sales, low air
traffic growth, and other macro factors have caused economic slowdown.(Arthikdisha, n.d.)

As SENSEX data that it was 37,852 points on 14 Aug, 2018 and right after one year on 14 Aug,
2019 it was closed at 37,311.53 points. So, the 1-year Sensex return is -1.43%. This disappointed
the investors indeed. From the above NIFTY one-year data, NIFTY was at 11,435.10 on 14 Aug
2018 and it was closed at 11,029.40 after one year on 14 Aug 2019. So, the 1-year NIFTY 50
return is -3.55%. Not really overwhelming for NIFTY 50 too.(Arthikdisha, n.d.)

As per the Economic Times, the bull market started in March 2009 and ended on March 2019
completing a longest and slowest bull market in the equity market. Inspite of SENSEX

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delivering a decent return of 16% annually, only a few investors could hold onto it due to their
continuous participation irrespective of market condition.(Arthikdisha, n.d.)

 Total Assets: (Rs. Trillion)

27.26
26.94

26.14
25.81 25.81
25.64 25.6
25.43
25.28

24.52 24.58
24.25
24.09

Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sap-19 Oct-19 Nov-19 Dec-19

Chart 1.1 Total Assets

Source: www.amfiindia.com

Assets managed by the Indian mutual fund industry have grown from Rs. 24.09 trillion in
December 2018 to Rs. 27.26 trillion in December 2019. That represents a 13.18% growth in
assets over December 2018.

 Composition of investor’s Holdings:

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 Institutions

Debt Orirnted Schemes

34%
41% Equity Orirnted Schemes
ETFs, FOFs
Liquid/ Money Markey

13%
12%

Chart 1.2 Composition of investor’s Holdings (Institutions)

Individuls

1% 6%

24% Debt Orirnted Schemes

Equity Orirnted Schemes
ETFs, FOFs
Liquid/ Money Markey

69%

Chart 1.3 Composition of investor’s Holdings (Individuls)

Source: www.amfiindia.com

Individual investors primarily hold equity-oriented schemes while institutions hold liquid and
debt-oriented schemes. 69% of individual investor assets are held in equity-oriented schemes.
75% of institutions assets are held in liquid / money market schemes and debt-oriented schemes.

 Growth in Assets:

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 3,000,000

2,500,000

2,000,000

1,500,000 Dec-19
Column1

1,000,000

500,000

0
Individuals Institutions Grand Total

Chart 1.4 Growth in Assets

Source: www.amfiindia.com

The value of assets held by individual investors in mutual funds increased from Rs.12.91 lakh cr
in December 2018 to Rs.14.54 lakh cr in December 2019, an absolute increase of 12.64%. The
values of Institutional assets have increased from Rs.11.17 lakh cr in December 2018 to Rs.12.71
lakh cr in December 2019, an absolute increase of 13.80%.

Accounts Across Investor Types

1%
8%

Institutions
Retail Investors
NHIs

92%

1.5 Accounts Across Investor Types

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There are 83,771,689 accounts in the mutual fund industry as at June, 2019 of which 91.6% is
accounted for by retail investors.
There were,

 76,708,789 retail investor accounts

 6,620,874 HNI accounts
 442,026 institutional investor accounts

The mutual fund industry has grown manifold and the number of mutual fund folios went on
increasing drastically. As of June 2019, there is a total of 8.38 Crores mutual fund investors
account. The average assets under management per account is now Rs.63,701 as per AMFI data
This clearly shows that the number of folios in both the equity and debt schemes has grown
rapidly on year on year basis.

 Increase in Investor Accounts:

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 Chart 1.6 Increase in Investor Accounts

Source: www.amfiindia.com

Since December 2014, there is an increase in investor accounts from 4.03 cr to 8.56 cr in
September 2019.

2. LITERATURE REVIEW
The literature review is done with the objective of identifying the proper gap. The main objective
of this research is to An In-depth study on Investor’s Behaviour towards Mutual Funds in North
Gujarat Region. Literature review will be a good source for a detailed understanding of the
concepts and tools considered for those studies. It also explains the requirement for the proposed
work and appraises the shortcoming and information gaps in the secondary data sources.
Literature review will helpful to find out research gap for further research.

For review of literature, we are referring few research papers, website links and books which are
related to the study. Literature review focusing to the topic “An In-depth study on Investor’s
Behaviour towards Mutual Funds in North Gujarat Region”.

Dr. Parul Mittal & Mr. Subesingh (Subesingh, 2019) conducted a study on “Investor’s
behaviour towards Indian Mutual Funds in Haryana”. This research paper focused attention on
number of factors that highlights investors’ perception about mutual funds and preferences of
investors. The impact of various demographic factors on investors’ behaviour towards Mutual

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Funds has been studied. The survey was undertaken of a diversified sample of 100 educated
investors of Haryana and Delhi area under NCR, India in Mutual Funds. For this purpose, we
have used chi square test and ranking method on the basis of weighted scores. The major
findings of the study reveal that demographic factors and knowledge of investors have impact on
their investment decisions. Better return & safety and tax benefit is the main factors of mutual
fund that allure the investors.

Dr. R. Abdul Muthalif & K. Munivel (Muthalif&Munivel, 2019) conducted a study on

“Customers’ Awareness and Perception towards Mutual Funds” is resourcefully managed
investment scheme allows more investors to invest with prearranged investment objective. A
Mutual fund is simply a financial relationship that allows a group of investors to collect their
money together with a prearranged investment objective. They are investment vehicles and one
can use them to invest in asset classes such as equities or fixed income. Customer has to identify
the best MF management companies and also the suitable schemes among the various schemes
floated by the MFs. A Mutual fund is a trust that team up the savings of Number of investors
who share a common economic goal. It provides risk diversification Benefits of making
investment in MF are reduction of risk, liquidity, affordability, convenience flexibility and
variety. Customer has to identify the best MF management companies and also the suitable
schemes among the various schemes floated by the MFs.

Dr. Meenakshi Bindal, Dr. Bhuwan Gupta & Sweety Dubey (Bindal et al., 2019) conducted a
study on “Investors acknowledgment towards and late improvement and headway of Mutual
Fund premiums in Alwar city” goes under the board an area of organization publicizing. In the
wide thought of organization publicizing it exclusively centres around the exhibiting of cash
related organization specifically basic resources. The prime drive of any hypothesis is to get
most extraordinary returned with a base danger and normal resources allow to the budgetary
masters. The examination gives an information into the sorts of risks which exist in a mutual
save plan. The data was assembled from shared save budgetary authorities similarly as non-basic
store examiners of this industry. The investigation bases on the association between theory
decision and factors like liquidity, cash related care, and demography. The other displaying
limits like thing progression publicize division, channels of exhibiting, thing life cycle, scale
headway procedures and their impact of Marketing are completely disposed of from the audit of
this examination.
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Vasavi Palla, Nagendra Kumar Turaga Srinivasa Rao Bandaru (Palla et al., 2019)
conducted a study on “Investors’ Preference towards Mutual Fund Sectors and Schemes in
Andhra Pradesh Capital Region (Amaravati)”. The study is qualitative but descriptive in nature.
Primary data collected using well-structured questionnaire and secondary data from existing
print and digital resources. The collected data analysed using descriptive statistics like chi square
tool. Data for the study is collected from a sample of 350 investors. It found that Investment
portfolio of mutual fund investors in other instruments reveal that mutual fund investors liked to
invest more (87.2%) in banks, post office and other public sector bonds than the equity shares
(53.6%).

Prof. (Dr.) Mohit Gangwar, Dr. Sapna Singh (Prof. (Dr.) Mohit Gangwar, 2019) conducted a
study on “a study of investor behaviour for investment in mutual funds in Allahabad". In this
research, Primary data collected through questionnaire and secondary data collected from various
literatures and from internet. Data for the study is collected from a sample of 1440 investors This
research study is descriptive in nature. The results indicate that most of the investors know about
mutual funds but still not investing in mutual fund due to lack of knowledge regarding
investment in mutual fund. This research recommendation will be useful for mutual fund
operating organizations and government to initiate the awareness programs for investors, so they
become more literate and also run training programs for mutual funds advisors for developing
trust in mutual fund investors.

Shilpa Sampath Kumar & Dr. Umamaheswari S. & Kusuma K. Reddy (Reddy, 2019)
conducted a study on “An Analytical Study on Investors Perception towards Mutual Funds”. A
survey was conducted and data was collected by applying Convenience method of sampling.
Statistical tools like “Chi-Square Test” and “Correlation” were applied to analyse the data. The
research done was a primary research from 100 respondents in the organisation with convenience
sampling method. It is highlighted that investors of middle-income level agrees that regular
income and liquidity of the investment plays a vital role. It can be perceived that high risk leads
to high returns in the investment. The flexibility in the investment would lead to good
performance of the funds.

Dr. Tripuraneni Jaggaiah & Samiya Mubeen (Mubeen, 2018) conducted a study on
“Perception of Indian Women Investor towards Investment in Mutual Funds”. A sample of 288

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individual mutual fund women investors was surveyed through a questionnaire. The study where
be confined by four different financial broking institutions as Angel Broking, Way2wealth,
Kotak Securities, and Motilal Oswal Securities by mode of convince sampling methods. The
data collection has been taken by 72 respondents in each four financial broking institution. The
study conducted shows that most of the women investors are aware of various schemes of mutual
funds. The Mutual Fund investors mainly belong to the age group from 30 years to 50 years and
fall in the income group of Rs 30,000 to Rs 70,000 and above.

Dr. M Rajarajeswari (Rajeswari, 2018) conducted a study on “A study on satisfaction level of

mutual fund investors”. Common public is also interested to get higher rate of dividends for their
investments in various money markets out of those, mutual fund offers the highest rate of
dividends even though the risk is high. Hence investors should take at most care and must make
thorough enquiry about the mutual fund schemes available and make their investment.

Dr. R. Amsaveni & Mrs. S. Ranjini (Amsaveni&Ranjini, 2018) conducted a study on “A study
on identify the investor’s attitude on mutual funds and to analyse the factors affecting investor’s
attitude towards mutual fund”. The study aims at finding out the attitude of the small investors
towards investment in mutual funds in Coimbatore City. The present study is based on primary
data which was collected using questionnaire method. 150 investors were selected from
Coimbatore City. Coimbatore City is selected as the study area. Random sampling method is
used for data collection. The investors choose Mutual fund for safety and investors collect the
information from expert advisors then only invest the money. Mainly investors select the
income, growth and equity fund for their investment in Mutual fund.

Mr. Erram Ramesh (Ramesh, 2018) conducted a study on “A Study of Investors Attitude
towards Mutual Fund in Karimnagar, Telangana”. The paper consists of mutual fund structure,
operations of mutual fund, comparison between investment in mutual fund, shares and bank and
calculation of Net Asset Value etc. For measuring the phenomena and analysing the data
collected from various 125 investors in Karimnagar, Telangana state through questionnaire and
to the draw the conclusions of attitude of investors towards mutual funds a statistical tool Chi-
square test is used. To analyse the various factors such as Income, gender, age, Income of
Consumers and education of investors, ranking was awarded on the basis of assumed scale and
on the basis of weighted average score. It has been observed that most of the investors or

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respondents are having lack of awareness about the concept and benefits associated with mutual
funds.

Rajan Bilas Bajracharya & Sushil Bhakta Mathema (Bajracharya & Mathema, 2018)
conducted a study on “A Study of Investors’ Preference towards Mutual Funds in Kathmandu
Metropolitan City, Nepal”. The main objective of this research is to identify investors’
preference towards mutual fund in Kathmandu metropolitan city. In this study 220 investors had
been considered from Kathmandu metropolitan city. By using in structured questionnaire,
Description statistical tools like chi-square test have been used for analysing the data. The
findings from this research are that the most of the investors are doubtful to invest the new age
investment like mutual funds. Main source sources of information are thepersonal observation
followed by advertisements in different media.The most preference of the investors is the bank
deposit because they believe it is the secure and return are fixed.

K. Keerthi, A. Arulraj & K. Bharathipriya (Keerthi et al., 2018) conducted a study on “the
retail investors' level of experience and level of expectations from mutual fund investments in
terms of the 'customer communication dimension' of the marketing mix”. The gap between the
level of expectations and the level of experience act as an indicator of the success or the future
prospects of a product. The study was conducted in Kumbakonam with a sample size of 50
respondents. Percentage analysis and cross tab tools are used to identify the customer satisfaction
level of mutual funds. it can be concluded that the Indian mutual fund industry is growing at a
remarkable pace.

Prof. Jyoti Ainapur (Ainapur, 2018) conducted a study on “Investors’ Perception towards
Mutual Funds” are having so many advantages like; Comparatively higher Return on Investment
(ROI), Managed by experts, Built-in Diversification, Ease of investing and monitoring, Tax
Benefits and Liquidity and Systematic Withdrawal Plan, in spite of all these advantages still
investors are not interested in investing in Mutual funds , may be because of lack of awareness,
so the study has been undertaken to know the investors perception towards Mutual funds
(Systematic Investment Plan)by studying it is found that awareness is less towards mutual funds ,
Broking houses have organize awareness programs to motivate people to invest in mutual funds.
It is a challenge for the stock brokers to create the awareness of Mutual funds in the society and

19 | P a g e
explain them that how best their funds are managed by the asset manager based on their risk-
taking ability.

Manisha Raj, Tanya Verma, Shruti Bansal & Aashita Jain (Raj et al., 2018) conducted a
study on “Performance of Mutual Funds in India: A Comparative Analysis of SBI Mutual Funds
and HDFC Mutual Funds”. The present study is based on the analysis of secondary data which is
collected from reviewing different research papers and articles published by different authors.
The data of NAV is collected for the period from 1st May’16 to 31st Apr’17. The data so
collected has been tabulated and analysed with the help of MS Excel. The benchmark index for
this study is taken to be the broad-100 shared base BSE National Index. Hence it would cover the
majority percentage of different scheme portfolios and therefore is expected to provide better
performance benchmark. Conclusively, it was found that the SBI Mutual Funds as a whole
relatively performed better than HDFC Mutual Funds as it had higher returns ; low Standard
Deviation, implying low volatility ; Low Beta Values , implying less risk involved ; High Sharpe
Ratio, thus ranking first when it comes to the desirability of the fund and high Treynor ratio
indicating that the fund’s performance in accordance to systematic risk is high.

Geeta Rani & Dr. Vijay Singh Hooda (Rani &Hooda, 2017) conducted a study on “A study on
Performance Evaluation of Mutual Fund Schemes: A Study of Selected Topper Schemes”. All
the selected funds outperformed the market & indicated superior risk adjusted performance. The
aim of this paper is to evaluate the performance of mutual fund schemes ranked one by CRISIL.
To analysis the performance of selected funds’ schemes, mean returns and their standard
deviation were considered and then basic measures in this regard- Sharpe’s Ratio, Jensen’s Ratio
and Treynor’s Ratio were ascertained and interpreted accordingly.

R. Udhayasankar & K. Maran (Udhayasankar& Maran, 2017) conducted a study on “A study

the Mutual fund investor’s perception in India-a Mutual fund”. As the population is defined
earlier the convenient sampling method is followed to draw the sample. In a convenient sample
each member of the population has unknown and there is no equal chance of being selected.
Convenient sampling technique is used in this study. The period of survey for collecting 150
questionnaires was 40 days. Primary Data were collected through questionnaire and secondary
data were collected from text books, references books, Annual reports and periodicals. This
study reveals that the investors feel that, the company should analysis perfectly before going to

20 | P a g e
invest the specific fund schemes. The organization tries its level best to satisfy their customers by
providing prompt services.

Dr. M Ravichandran, A. Jeyaraj (Dr. M Ravichandran, 2017) conducted a study on “A study

on performance evaluation mutual fund schemes in India”. This Mutual fund industry has
witnessed magnificent growth in past few years. This study is aimed at evaluating performance
of mutual funds and also to inspecting the role of asset management companies in reference to
public and private sector. The NAV of the selected scheme have been compared for five years
with an annual return. For the present study, the secondary data was collected from the various
sources from the Association of Mutual Fund India, BSE India etc. initially this study tries to
evaluate the performance of the 20 equity mutual fund schemes. The main objective of this study
work is to study financial performance of selected mutual fund schemes through the statistical
parameters such as beta, standard deviation, coefficient of determination, Sharpe ratio.

Shivangi Agarwal & Nawazish Mirza (Agarwal & Mirza, 2017) conducted a study on
“Investing through mutual funds has gained interest in recent years as it offers optimal risk
adjusted returns to investors”. These include measuring the performance of selected mutual
schemes on the basis of risk and return and compare the performance of these selected schemes
with benchmark index to see whether the scheme is outperforming or underperforming the
benchmark. A sample of 100 mutual fund schemes which are in operation for a period of five
years. With effect from January 1st 2013, it was made mandatory by SEBI that all open-ended
mutual funds should have direct-plans. the results of Sharpe ratio and Treynor ratio reflect that
90 percent of the schemes have performed better than their benchmarks. The investors are
interested in consistent returns may choose investment in these schemes.

S. Kulothunga Pandian (Pandian, 2017) conducted a study on “A attempt to analyse the socio-
economic conditions influencing investors’ perception towards mutual fund investment in the
study area of Virudhunagar district”. Various factors influencing the investors’ perception about
mutual fund investment while investing their money. A total of 500 investors were selected in
eight taluks by adopting the convenient simple random sampling method. The Virudhunagar
District has 8 taluks namely, Kariapatti, Thiruchuli, Virudhunagar, Aruppukkotai, Sivakasi,
Sattur, Srivilliputturand Rajapalayam. The primary data for the study have been collected from
the investors through interview schedules. socio economic variables such as gender, age, marital

21 | P a g e
status, education, occupation, monthly income and monthly savings have been taken into
account. 31 to 40 years old graduate people are more invest in mutual find.

MitalBhayani (Bhayani, 2017) conducted a study on “A study of recent trends in Indian Mutual
Fund Industry”. This research included study of classified growth trends in mutual fund industry
which will contribute to growth of the industry as whole 1 The study attempts to identify the
major changes which can be marked for mutual funds as an investment option. It is observed
that even though mutual fund industry seems to grow in India. It is dominated by Institutional
investors, T15 cities and debt-oriented schemes leaving huge scope for growth.

Mr. Ankit Goel & Dr. Rajendra K. Khatik (Goel &Khatik, 2017) conducted a study on “A
study on investors' awareness and preference towards mutual funds as an investment option”.
The primary and secondary data collection methods were considered. With this background a
survey was conducted among 90 Mutual Fund Investments in Mathura. The primary data was
collected through a questionnaire designed for the study. Secondary data was taken from
Research papers, Journals, Magazines and Websites. The objective of the investors is to save and
beat inflation. Majority of them also want to save tax and increase their wealth. The findings
show that majority of investors have heard about mutual funds but still an important fraction of
them have not initiated to investment because of having lacking in full knowledge of mutual
funds.

K. Alamelu & Dr. G. Indhumathi (Alamelu&Indhumathi, 2017) conducted a study on “A study

on Investors Perception towards Mutual Funds in Madurai District, Tamil Nadu”. The study is to
identify the investor’s perception on mutual funds and to analyse the factors affecting investors’
perception towards mutual funds by using 200 convenience samples in Madurai District, Tamil
Nadu. The data were analysed by using Descriptive Statistics such as Independent t-sample test,
Chi-square Test, Rank, Weighted Mean, Skewness are used for the study. The study found in
Madurai District is that mostly the Lower Net worth Individuals has positive approach towards
investing in mutual funds.

Dr. Vedala Naga Sailaja (Sailaja, 2017) conducted a study on “Client Awareness towards
different sorts of Mutual Funds”. The review had been devoted basically towards the
advancement of item or idea in the Chennai Market. The analyst utilized the Primary information
accumulation technique in her review by confining an organized Questionnaire. This study is

22 | P a g e
based on Descriptive Research and the data is collected from 140 sample respondents. The
scientist ran with helpful sort of inspecting strategy in her review. With the end goal of Analysis
and Interpretation the specialist utilized the accompanying measurable apparatuses to be specific
Simple Percentage Analysis, Chi-Square Test, Karl Pearson's Correlation and One-way
ANOVA.

Poonam Gautam Sharma (P. G. Sharma, 2016) conducted a study on “A study on The
Development of Mutual Fund Industry in India”. The purpose of this article is to present the
attributes of mutual fund industry in India, its development since inception with UTI, entry of
public sector, private sector and foreign enterprise, various schemes offered by companies
especially started to meet small investor’s needs. The data used for the study is secondary in
nature. They can conclude that mutual fund industry has to make efforts towards the stable
growth and sustained profit rather than short term growth.

Muralidhar Prasad Ayaluru (Ayaluru, 2016) conducted a study on “Performance Analysis of

Mutual Funds: Selected Reliance Mutual Fund Schemes”. Indian Financial System was
rejuvenated with the introduction of multiple financial institutions, financial services and
financial instruments in the post LPG era. The primary investment objective of the scheme is to
seek to generate long term capital appreciation & provide long-term growth opportunities by
investing in a portfolio constituted of equity & equity related securities and Derivatives and the
secondary objective is to generate consistent returns by investing in debt and money market
securities. Amount the first entrants Reliance Mutual Funds is one and it has significant
contributions to the Mutual Fund services. From the study, it can be concluded that all the
selected 10 reliance funds are performing above the selected benchmark return and managed by
the fund satisfactorily. There are multiple researches on mutual fund related areas and this is not
the end of it. There is scope for future research on the same topic, with a different combination,
periods etc.

Dr. T. Unnamalai (Unnamalai, 2016) conducted study on “Awareness of Investors about the
Mutual Fund Investments in Musiri Taluk”. Mutual Fund is a vehicle that attracts small and
medium investors, thus strengthen the capital market. There are many reasons to invest in mutual
funds such as dividend declarations, tax benefits, lesser risk, and value of assets, cost etc. The
primary data have been collected from 250 respondents only and the period of collection in only

23 | P a g e
one month (December 2015). Convenient random sampling technique is used to collect the data.
With this background both primary data and secondary data have been collected. Percentage
analysis and chi-square test have been used for testing hypotheses.

Sanesh C. & Greeshma V. (C & V, 2016) conducted a study on “A Study Mutual Fund
Investors Behaviour in Kerala”. These expectations of investors are influenced by their
perception and humans generally relate perception to action. The present study adopted
descriptive as well as an empirical research methodology based on the survey method. The data
required for the study have been collected from both primary and secondary sources. The study
basically depends on the primary data collected from 90 sample mutual fund retail (individual)
investors in Kerala through a structured questionnaire. Mutual fund investment is considered as
one of the investment avenues preferred by the investors. Long-term investors are showing more
preferences towards mutual fund products.

Ms. M. Kalaiselvi (KALAISELVI, 2016) conducted a study on “Investors Perception towards

Mutual Fund Investments and recent development and progress of Mutual Fund investments in
Coimbatore city comes under the board area of service marketing”. In the broad concept of
service marketing it exclusively concentrates on the marketing of financial service namely
mutual funds. The mutual fund investor’s behaviour also the researcher concentrates only the
urban investors and their problem for this research work. The rural investor`s views are
completely excluded from the study. The financial behaviour of mutual fund investors in
connection with the scheme preference and selection. An important element in the success of a
marketing strategy is the ability to fulfil investor’s expectation. The mutual fund industry to
understand the investor’s perception towards mutual fund investments and the study would also
be informative to the investors.

Dr. Sunil M. Adhav (Adhav, 2016) conducted a study on “Comparative Study of Selected
Sector Equity Mutual Funds”. The research is an attempt to study comparative performance of
selected sector equity mutual funds of selected Indian companies. The study focusses on selected
sector equity mutual fund schemes. The total 17 sector equity mutual fund schemes are selected
for the study. the data has been collected from secondary sources which include AMFI reports on
mutual fund and RBI Bulletin. The average annual return for the sector equity mutual fund is
31.06 percent for the selected mutual funds.

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Sudarmathi. J & Dr. Ch. Bala Nageshwara Roa (SUDARMATHI &Dr. ROA, 2015) conducted
a study on “A Study on Investors Behaviour towards Mutual Fund”. This research paper focused
attention on number of factors that highlights investor’s perception about mutual fund. From the
research it is found that the majority of investors are male and are businessmen. The research
done was a primary research from 60 respondents in the organisation with convenience sampling
method. It stated that more people were aware of mutual fund because of advertisements and
social media. This Research denoted that there was a frequent investment in mutual funds
compared to other investment sectors. And this study has been analysed on the basis of
demographic factors using chi square and ANOVAs as tools.

Priyanka Sharma & Payal Agrawal (P. Sharma & Agrawal, 2015) conducted a study on
“Investors’ Perception and Attitude towards Mutual Fund have opened new vistas to millions of
investors by virtually taking investment to their doorstep”. Mutual funds have come, as a much-
needed help to these investors. Thus, the success of MFs is essentially the result of the combined
efforts of competent fund managers and alert investors. That investor relies more while making
investment and preferable mode to invest in mutual funds market. Mutual fund, investors’
perception, investors’ behaviour, objectives, challenges, buying behaviour, performance
evaluation. The MF should be easy to buy and sell through broker or directly in the market.
These factors give them the required boosting in the investment process. The fund managers to
enhance these features for attracting more investors and also to retain the trust, the investors have
in them.

V. Venkateshraj (Venkateshraj, 2015) conducted a study on “A Study on Investment Pattern

among Employed Women. The study carried out is a descriptive research study”. Personal
survey method with the help of a self-constructed questionnaire was administered to collect
primary data from the respondents. A total of 720 questionnaires were used to collect the data. It
was found that awareness level about Bank deposits, Insurance and postal savings was very high
and awareness about commodities market awareness was very poor. Main purpose of investment
for employed women is children’s education and marriage.

Vipin Kumar & Preeti Bansal (Kumar & Bansal, 2014) conducted a study on “A Study on
Investors’ Behaviour towards Mutual Funds in Rohtak, Haryana”. The survey was undertaken of
a diversified sample of 125 investors of Rohtak, Haryana. The data is collected through

25 | P a g e
structured questionnaires. It is so designed to collect all required information from investors of
mutual funds. Based on their knowledge, information source and investment decision factors
related to their selection of a particular scheme fund. For middle income individuals, investing in
mutual funds yields higher interest and comes with good principal amount at the end of the
maturity period of the mutual fund investment.

Umaya Salma Shajahan (Shajahan, 2014) conducted a study on “five major cities of South
Tamil Nadu”. In total, 250 retail and 250 institutional investors were selected equally from the
five cities. Since the response rate in very poor, the sample size came to 197 investors. The
important discriminate factor among the retail and institutional investors is capital gain and
liquidity. At the same time, the discriminate factor among the ranking driven investors, active
information investors and adviser influenced investors is capital gain and income factor. The
present study concludes that the important factors leading to invest in mutual funds are Liquidity,
Savings, Income, Motivation and Capital gain factors.

S. Prasanna Kumar & S. Rajkumar (Prasanna Kumar & Rajkumar, 2014) conducted a study
on “A study on mutual fund knowledge and awareness among the investors with a special
reference to Chennai city”. It is difficult to selective group the investors in a sample as such the
population of Chennai city is large in number. With this background a survey was conducted
among 250 Mutual Fund Investors in Chennai to study the factors influencing the fund/scheme
selection by the Investors. For analysing the impact of knowledge and awareness of mutual fund
done through SPSS, one-way ANOVA analysis has been made. Hence, this study is made to
evaluate the knowledge, general and variable effects about the investors’ perception and
performance of investment avenues. In this survey, graduate respondents are chosen as they have
approachable knowledge and general knowledge & awareness level among the individual
investors are so good about mutual fund. Mutual funds are cornering the maximum attention of
the investors in today’s scenario be it individual or corporate investors.

Prof Gauri Prabhu, Dr N. M. Vechalekar (Prabhu G., 2013) conducted a study on “Perception
of Indian Investor towards investment in mutual funds with special reference to MIP Funds”. A
survey was conducted in Pune city during the period June 2013 to September 2013. A sample of
150 individual mutual fund investors were surveyed through a pre-tested questionnaire.
Diversification of portfolio and tax benefit are the main factors of mutual fund that allure the

26 | P a g e
investors. Most of the investors are aware of MIP Funds and the preferred reason for investing in
MIP fund is consistent returns. The awareness level of investors regarding Monthly Income Plan
funds and their benefits is also studied.

Pritam P. Kothari & Shivganga C. Mindargi (Kothari & Mindargi, 2013) conducted a study
on “A Study of Investors Attitude towards Mutual Fund with Special reference To Investors in
Solapur City”. The study analysed the impact of different demographic variables on the attitude
of investors towards mutual funds. Apart from this, it also focuses on the benefits delivered by
mutual funds to investors. The survey was undertaken of a sample of 200 investors of Solapur
City, having different demographic profiles were surveyed. The study reveals that the majority of
investors have still not formed any attitude towards mutual fund investments. there is a tendency
to invest in fixed deposits due to the security attached to it. Main source sources of information
are the financial advisors followed by advertisements in different media. In order to excel and
make mutual funds a success, companies still need to create awareness and understand the
psyche of the Indian customer.

Gaurav Agrawal & Dr. Mini Jain (Agrawal, 2013) conducted a study on “Investor’s
Preference towards Mutual Fund in Comparison to Other Investment Avenue”. They have
analyze the investor’s preference towards investment in mutual funds when other investment
avenues are also available in the market. The research done was a primary research from 300
respondents in Mathura. it may be concluded that maximum investors are aware about Banks &
LIC investment avenues only. More than 80% investors are aware about Mutual Funds, Real
Estate, and NSC investment avenues. Bank & LIC are the most preferred avenues of
investmentas it provides maximum safety. Real Estate & Mutual Funds are the most preferred
avenues ofinvestment as it provides maximum return.

Dr. D. Rajasekar (Rajasekar, 2013) conducted a study on “A Study on Investor’s preference of

mutual funds with reference to reliance private limited” a project which is mainly carried out to
know about the investor’s perception with regard to their profile, income, savings pattern,
investment patterns and their personality traits. The data was collected from primary and
secondary sources. The primary sources were collected from the investors who invested in
various avenues. The secondary sources are from books, journals and internet. Since the investor
population is vast a sample size of 150 was taken for the project. The data was analysed using

27 | P a g e
the statistical tools like percentage analysis, chi square, weighted average. From the findings, it
was inferred overall that the investor is highly concerned about safety and growth and liquidity
of investments. Most of the respondents are highly satisfied with the benefits and the service
rendered by the reliance mutual funds.

Pritam P. Kothari & Shivganga C. Mindargi (Kothari &Mindargi, 2013) conducted a study
on “A Study of Investors Attitude towards Mutual Fund with Special Reference to Investors in
Solapur City”. This study analyses the impact of different demographic variables on the attitude
of investors towards mutual funds. Apart from this, it also focuses on the benefits delivered by
mutual funds to investors. To this end, 200 respondents of Solapur City, having different
demographic profiles were surveyed. The study reveals that the majority of investors have still
not formed any attitude towards mutual fund investments. Only a small segment of the investors
still in Mutual Funds and the main source sources of information still are the financial advisors
followed by advertisements in different media.

Manoj Kumar (M. Kumar, 2013) conducted a study on “A Study of Customers’ Preference
towards Investment in Equity Shares and Mutual Funds”. Descriptive Research Design has been
used. The study is based on primary and secondary data. The research done was a primary
research from 100 respondents in the organisation with convenience sampling method. The
statistical tools used for the analysis are z-test, χ² test, percentage analysis and ranking method.
This study revealed that real estate and gold are most preferred investment alternatives among
various investment alternatives. Hence mutual fund and equity share are also considered as good
investment alternatives.

Sukhwinder Kaur & Dr. G. S. Batra & Dr. Bimal Anjum (Kaur, 2013) conducted a study on
“Investor’s Perception towards Selection of Mutual Funds Rather than Stock Market started by
UTI” in the year 1964 with few handful schemes for small investors. These points this paper is
an attempt to know the investors perception towards selection of mutual funds. 250 investors
have been taken for survey. The analysis of data has been done with factor analysis. Investment
in stock market is complex and risky. As far as suggestions to investors are concerned investors
should, consider not only the returns but also the risks associated with these returns. Investors
should consider size of the fund, charges charged by funds, change in the corpus of funds and

28 | P a g e
comparison with peer schemes as well as with benchmark. These preferences mutual fund
companies should offer innovative schemes in the market to lure the investors.

V. Rathnamani (V. Rathnamani, 2013) conducted a study on “A Study on Investor’s

Preferences towards Mutual Fund Industry in Trichy”. For the purpose of this study 100
respondents have been chosen on a randomly convenient base inTrichy city. Out of 100
respondent 90 respondents provided full information which is required for this study.The
respondents are segregated on the basis of different variables such as income, age, occupation
gender,family size, academic qualification and annual saving. The data and information collected
have been classified, tabulated and processed and its findingspresented in a systematic manner.
Statistical tools as Chi-square test, Pearson Correlation, cross tabulation isemployed to analyse
the data effectively.In the demographic profile most of the investors are willing to invest only
10%in their annual personal income, around 39% of investors belongs to age range of 31 to 40
years.

Simran Saini, Dr. Bimal Anjum & Ramandeep Saini (Saini et al., 2012) conducted a study on
“Investors’ Awareness and Perception about Mutual Funds”. Data for the study is collected from
a sample of 200 investors by using stratified sampling. The secondary data relating to net
resources mobilized by banks and financial institution sponsored mutual funds, assets under
management, investors mix etc. This type of data is collected from different investment
periodicals, magazines, various newspapers, RBI reports, AMFI reports, SEBI annual reports;
securities market reviews, study of existing literature of different authors in the related field etc.
This study is very important in order to judge the investors’ behaviourin a market like India,
where the competition increases day by day due to the entry of large number of players with
different financial strengths and strategies.

Sanjay Kanti Das (Das, 2012) conducted a study on “Semi Urban Investors Attitude and
Preferences in Mutual Funds Investment: A Case Study of Nagaon Districts of Assam”. The
study aims at finding out the attitude of the investors towards investment in mutual funds in
Nagaon district of Assam. The primary data was collected from the investors of mutual funds
with help of the questionnaire. The secondary data were collected from the books, records and
journals. By adopting convenience sampling, 250 respondents were selected for this study.
Investors of Nagaon become more cautions after they lost their savings with unincorporated

29 | P a g e
bodies, Chit funds, Benefit Funds and some Non-Banking Finance Companies. They are now
turning more to mutual funds because of safety, liquidity, capital gains and transparency. The
present investigation outlined that mostly the investors have positive approach towards investing
in mutual funds.

Dr. Nishi Sharma (Sharma, 2012) ) conducted a study on “Indian Investor’s Perception towards
Mutual Funds” industry provides an option of diversified investment structure with varying
degree of risk; it was supposed to be the most lucrative market for Indian investors. It was
believed that it will surely tap the savings of common man. But in practice it failed to become a
primary choice for investment to Indian investor. During almost six decades (1965-2011) the
value of assets under management of mutual fund industry experienced great swings. The
investor’s perception with reference to distinct features provided by mutual fund companies to
attract them for investing in specific funds/schemes. The results are expected to provide fruitful
insight to mutual fund companies for tailoring their offers suitable to cater the needs and
expectations of Indian investors.

Dr. Sandeep Bansal, Sh. Sanjeev Kuma, Dr. Surender Kumar Gupta (Sandeep Bansal &
Sanjeev Kumar, 2012) conducted a study on “A Study on Test of Sharp Ratio on Selected
Mutual Fund Schemes”. The study is entirely based on the secondary data. The sample consists
of 12 mutual fund schemes, which are chosen at random basis. It is important to point out that
NAVs have been taken on monthly basis. The data regarding the NAV’s and return of these 12
mutual fund schemes have been noted from Alpha database. The BSE Sensex was used as the
proxy for market index and each scheme has been evaluated with respect to this benchmark.
Only three mutual fund schemes, out of twelve shows positive value of Sharpe Index namely
HDFC Liquid Fund, L & T Liquid Fund and UTI Bond Fund. While other mutual fund scheme
had negative value of Sharpe Index in the analysis that indicates the inferior performance.

Dr. Ravi Vyas (Vyas, 2012) conducted a study on “A study on Mutual Fund Investor’s
Behaviour and Perception in Indore City”. The sample size consists of 363 respondents. The
basic design of survey instrument consists of structured questionnaires. Based on their
knowledge, information source and investment decision factors related to their selection of a
particular scheme fund. It was found that mutual funds were not that much known to investors. It

30 | P a g e
was also found that maximum number of investors did not analyse risk in their investment and
they were depending upon their broker and agent for this work.

Manoj Sharma, Hardeep Kaur, Purva Jain (M. Sharma et al., 2012) conducted a study on “A
study the customers’ perception and satisfaction towards the mutual funds industries”. The study
utilized the survey approach. The sample consisted of 100 respondents. For this purpose, they
use SERVQUAL Model to identify the gaps between the expectation and satisfaction level of the
customers. This paper also tries to identify the factors which influence the satisfaction level of
customers with respect to mutual fund companies. This study was limited to Chhattisgarh state
only. Similar studies need to be carried out across different states to find out the real impact on
investors satisfaction as well as their perception.

The prime drive of any

investment is to get maximum
return with a minimum risk and
mutual funds provide the
opportunity for the
investors. The research provides an
insight into the types of risks
which exist in a mutual fund
scheme. The
data was collected from mutual
fund investors as well as non
31 | P a g e
mutual fund investors of this
industry. The
research focuses on the
relationship between investment
decision and factors like liquidity,
financial awareness,
and demography. It was found low
risk funds and liquidity of fund
scheme are having impact on the
investor’s
perception for investing in the
mutual fund.
The prime drive of any
investment is to get maximum
return with a minimum risk and
mutual funds provide the
opportunity for the
32 | P a g e
investors. The research provides an
insight into the types of risks
which exist in a mutual fund
scheme. The
data was collected from mutual
fund investors as well as non
mutual fund investors of this
industry. The
research focuses on the
relationship between investment
decision and factors like liquidity,
financial awareness,
and demography. It was found low
risk funds and liquidity of fund
scheme are having impact on the
investor’s

33 | P a g e
perception for investing in the
mutual fund.
The prime drive of any
investment is to get maximum
return with a minimum risk and
mutual funds provide the
opportunity for the
investors. The research provides an
insight into the types of risks
which exist in a mutual fund
scheme. The
data was collected from mutual
fund investors as well as non
mutual fund investors of this
industry. The
research focuses on the
relationship between investment
34 | P a g e
decision and factors like liquidity,
financial awareness,
and demography. It was found low
risk funds and liquidity of fund
scheme are having impact on the
investor’s
perception for investing in the
mutual fund.
The prime drive of any
investment is to get maximum
return with a minimum risk and
mutual funds provide the
opportunity for the
investors. The research provides an
insight into the types of risks
which exist in a mutual fund
scheme. The
35 | P a g e
data was collected from mutual
fund investors as well as non
mutual fund investors of this
industry. The
research focuses on the
relationship between investment
decision and factors like liquidity,
financial awareness,
and demography. It was found low
risk funds and liquidity of fund
scheme are having impact on the
investor’s
perception for investing in the
mutual fund.
A. V. V. S. Subbalakshmi, R. Balachandar (A.V.V.S.Subbalakshmi, 2011) conducted a study
on “A Study on Investor’s Attitude towards Mutual Funds as an Investment Option in Vellore
Tamil Nadu”. This research study is an analytical and descriptive research. In order to conduct
this study, hundred investors of Vellore District of Tamil Nadu have been considered. All the
data required for this research work is obtained from primary and secondary sources. Mainly

36 | P a g e
questionnaire has been used as a primary instrument. The study reflects that there are still more
people who lack awareness of the Mutual Fund and schemes related to it.

Reepu (Reepu, 1963) conducted a study on “Investors’ Perception a Study of Mutual Funds”.
Investment in today’s era is enveloped with risks like business, credit, default, currency, interest
rate, market etc. Mutual Fund allows investor to pool their money with which the investment
manager would instigate investments and hence attempt to attain results as per the investor’s
objectives. Diversification and SIP allows investor to manage the risks. Sponsor, Trust, Trustee,
Transfer Agent, Asset Management Company etc. forms key element Mutual Fund structure.
Moreover, with the investment in Mutual Fund the investor can avail tax benefits too.

37 | P a g e
3. RESEARCH METHODOLOGY:
Research Methodology is a methodology for collecting all sorts of Information and data to the
subjects in the Question. The Objective is to examine all the Issue Involved and conducted
Situational Analysis. The Methodology included the overall Research design, Design Sampling
Processor and filed work done and Final Analysis Processor. The Methodology used in the study
constant of sample using both primary and secondary data.

3.1 Problem Statement:

The methodology of research of In the Depth Study on Investor’s Behaviour towards
Mutual Fund at North Gujarat, is "survey methodology."
3.2 Research Objective:
1. To study the Investor’s Behaviour towards Mutual Fund at North Gujarat.
2. To study the various factors like risk, return, time affecting Investor’s Behaviour
towards Mutual Fund at North Gujarat.
3. To find Investor’s preference about different investment avenue.
4. To study investor’s preference towards various schemes of mutual fund.
3.3 Research Hypothesis:
 There is no significance different between Gender & Age for Investor’s Behavior towards
Mutual Fund.
 There is no significance different between Gender & Income for Investor’s Behavior
towards Mutual Fund.
 There is no significance different between Occupation & Income for Investor’s Behavior
towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Spouse for
Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Parents for
Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of
Friend/Relatives for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Colleagues for
Investor’s Behavior towards Mutual Fund.

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  There is no significance different between Gender & Motivation Factor of Financial
Advisor for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Media &
Websites for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing towards investment
behavior of Safety of Principal for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing towards investment
behavior of Risk for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing towards investment
behavior of Regular Return for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing towards investment
behavior of Tax Benefits for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Age & Reason of it is better to invest in
Mutual Fund rather than investing directly in shares for Investor’s Behavior towards
Mutual Fund.
 There is no significance different between Age & Reason of they provide high return
with low risk for Investor’s Behavior towards Mutual Fund.
3.4 Research Design:
The Descriptive Research can be used for our research project report. Because, Descriptive
explains the study and the aims at finding the present scenario of the investors towards
mutual fund.
3.5 Data collection:
Primary data: It is first-hand information; primary data is collected through the
observation, interview and survey.
Secondary data: Besides the primary data, secondary data is collected through books,
magazines, news, publish research paper, website links etc.
3.6 Sample Frame:
Sample frame refers to the area where we will survey. North Gujarat region is selected as
our sample frame.
3.7 Sample Size:

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 The sample of 250 people will select into the study of on Investor’s Behaviour Towards
Mutual Fund.
3.8 Sampling Method:
For the study, Non probability judgemental sampling method will be used in order to collect
the primary data.
3.9 Data Collection Techniques:
The Primary data would be collected based on structured close ended Questionnaire. It is
designed to collect all the required information from the investors of the mutual fund, based
on their knowledge, information source and investment decision.
3.10 Data Analysis Tools:
Collected data would be analysed by frequency distribution, cross tabulation, Chi-square
test and ANOVA test, through SPSS software.
3.11 Limitation of study:
 This study is restricted only to investors of North Gujarat.
 This project is limited in scope as the survey is conducted with shortage of the time
constraints.
 The study is confined to the viewpoint of the investor, which could be biased in nature.

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3. RESEARCH METHODOLOGY:
Research Methodology is a methodology for collecting all sorts of Information and data to the
subjects in the Question. The Objective is to examine all the Issue Involved and conducted
Situational Analysis. The Methodology included the overall Research design, Design Sampling
Processor and filed work done and Final Analysis Processor. The Methodology used in the study
constant of sample using both primary and secondary data.

3.6 Problem Statement:

The methodology of research of In the Depth Study on Investor’s Behaviour towards
Mutual Fund at North Gujarat, is "survey methodology."
3.7 Research Objective:
 To study the Investor’s Behaviour towards Mutual Fund at North Gujarat.
 To study the various factors like risk, return, time affecting Investor’s Behaviour towards
Mutual Fund at North Gujarat.
 To find Investor’s preference about different investment avenue.
 To study investor’s preference towards various schemes of mutual fund.
3.8 Research Hypothesis:
 There is no significance different between Gender & Age for Investor’s Behavior towards
Mutual Fund.
 There is no significance different between Gender & Income for Investor’s Behavior
towards Mutual Fund.
 There is no significance different between Occupation & Income for Investor’s Behavior
towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Spouse for
Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Parents for
Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of
Friend/Relatives for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Colleagues for
Investor’s Behavior towards Mutual Fund.

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  There is no significance different between Gender & Motivation Factor of Financial
Advisor for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Gender & Motivation Factor of Media &
Websites for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing Factor of Safety of
Principal for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing Factor of Risk for
Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing Factor of Regular
Return for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Income & influencing Factor of Tax Benefits
for Investor’s Behavior towards Mutual Fund.
 There is no significance different between Age & Reason of it is better to invest in
Mutual Fund rather than investing directly in shares for Investor’s Behavior towards
Mutual Fund.
 There is no significance different between Age & Reason of they provide high return
with low risk for Investor’s Behavior towards Mutual Fund.
3.9 Research Design:
The Descriptive Research can be used for our research project report. Because, Descriptive
explains the study and the aims at finding the present scenario of the investors towards
mutual fund.
3.10 Data collection:
Primary data: It is first-hand information; primary data is collected through the
observation, interview and survey.
Secondary data: Besides the primary data, secondary data is collected through books,
magazines, news, publish research paper, website links etc.
3.6 Sample Frame:
Sample frame refers to the area where we will survey. North Gujarat region is selected as
our sample frame.

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3.12 Sample Size:
The sample of 250 people will select into the study of on Investor’s Behaviour Towards
Mutual Fund.
3.13 Sampling Method:
For the study, Non probability judgemental sampling method will be used in order to collect
the primary data.
3.14 Data Collection Techniques:
The Primary data would be collected based on structured close ended Questionnaire. It is
designed to collect all the required information from the investors of the mutual fund, based
on their knowledge, information source and investment decision.
3.15 Data Analysis Tools:
Collected data would be analysed by frequency distribution, cross tabulation, Chi-square
test and ANOVA test, through SPSS software.
3.16 Limitation of study:
 This study is restricted only to investors of North Gujarat.
 This project is limited in scope as the survey is conducted with shortage of the time
constraints.
 The study is confined to the viewpoint of the investor, which could be biased in nature.

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4. DATA ANALYSIS & INTERPRETATION:
4.I Gender frequency distribution

Frequency Percent Valid Percent Cumulative

Percent

Valid 1=Male 152 60.8 60.8 60.8

2=Female 98 39.2 39.2 100.0
Total 250 100.0 100.0
Table 4.I Gender frequency distribution

Graph 4.I Gender frequency distribution

Interpretation:
The above graph and table show that in this research project the male respondents are dominant
one i.e. 60.80%. Male respondents effect more than female respondents in Mutual Fund. It shows
that Male respondents are more invest in Mutual Fund in North Gujarat Region.

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4.II Age frequency distribution

Frequency Percent Valid Percent Cumulative Percent

1=Below 20 Years 7 2.8 2.8 2.8

2=20-25 Years 74 29.6 29.6 32.4
3=26-35 Years 62 24.8 24.8 57.2
Valid 4=36-45 Years 60 24.0 24.0 81.2
5=46-55 Years 34 13.6 13.6 94.8
6=Above 56 Years 13 5.2 5.2 100.0
Total 250 100.0 100.0
Table 4.II Age frequency distribution

Graph 4.II Age frequency distribution

Interpretation:
The above graph and table show that in this research project, the respondents in between 20-25
Years age are more who invest in Mutual Fund i.e. 29.6%. The lowest respondents are Below 20
Years age who invest in Mutual Fund i.e. 2.8%. It shows that the respondents in between 20-25
Years are more invest in Mutual Fund in North Gujarat Region.

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4.III Occupation frequency distribution

Frequency Percent Valid Percent Cumulative Percent

1=Business 52 20.8 20.8 20.8

2=Service 71 28.4 28.4 49.2
3=Agriculture 18 7.2 7.2 56.4
Valid 4=Retired 8 3.2 3.2 59.6
5=Housewife 35 14.0 14.0 73.6
6=Any Others 66 26.4 26.4 100.0
Total 250 100.0 100.0
Table 4.III Occupation frequency distribution

Graph 4.III Occupation frequency distribution

Interpretation:
From the above graph and table shows that in this research project, the highest respondents who
invest in Mutual Fund in North Gujarat Region are done service i.e. 28.4% and respondents who
invest in Mutual Fund in North Gujarat Region are done business i.e. 20.8%, while the lowest
respondents are retired i.e. 3.20%. So, it shows that the respondents in Service are more invest in
Mutual Fund in North Gujarat Region.

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4.IV Education frequency distribution

Frequency Percent Valid Percent Cumulative Percent

1=HSC 75 30.0 30.0 30.0
2=Diploma 30 12.0 12.0 42.0
3=Graduate 79 31.6 31.6 73.6
Valid
4=Post
66 26.4 26.4 100.0
Graduate
Total 250 100.0 100.0
Table 4.IV Education frequency distribution

Graph 4.IV Education frequency distribution

Interpretation:
From the above table and graph, we came to know that highest respondents who invest in Mutual
Fund in North Gujarat Region have graduation qualification i.e. 31.60% and the second highest
respondents have only HSC qualification (12th) i.e. 30.00%. The lowest respondents have
Diploma i.e. 12.00%. So, it shows that the respondents have graduation qualification that are
more invest in Mutual Fund in North Gujarat Region.

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4.V Annual Household Income

Frequency Percent Valid Percent Cumulative Percent

1=1 Lac to 3 Lac 109 43.6 43.6 43.6

2=3 Lac to 6 Lac 73 29.2 29.2 72.8
Valid 3=6 Lac to 9 Lac 45 18.0 18.0 90.8
4=Above 9 Lac 23 9.2 9.2 100.0
Total 250 100.0 100.0
Table 4.V Annual Household Income

Graph 4.V Annual Household Income

Interpretation:
The above graph and table show that in this research project, more respondents of annual
household income are Rs 1 Lac to 3 Lac i.e. 43.60% and second highest respondent of annual
household income are Rs 3 Lac to 6 Lac i.e. 29.20%. The lowest respondents of annual
household income are Rs above 9 Lac i.e. 9.20%. So, it shows that the respondents of annual
household income of Rs 1 Lac to 3 Lac are more invest in Mutual Fund in North Gujarat
Region.

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4.1 Do you know about mutual fund?

Frequency Percent Valid Percent Cumulative Percent

Valid 1=Yes 250 100.0 100.0 100.0

Table 4.1 Do you know about mutual fund

Graph 4.1 Do you know about mutual fund

Interpretation:
The above graph and table show that in this research project, all respondents know about mutual
fund i.e. 100.00%.

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4.2 Do you invest in mutual fund?

Frequency Percent Valid Percent Cumulative Percent

Valid 1=Yes 250 100.0 100.0 100.0

Table 4.2 Do you invest in mutual fund

Table 4.2 Do you invest in mutual fund

Interpretation:
The above graph and table show that in this research project, all respondents invest in mutual
fund i.e. 100.00%.

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4.3 From how many years have you been investing in mutual funds?

Frequency Percent Valid Percent Cumulative Percent

1=Less than 3 yrs. 99 39.6 39.6 39.6

2=3 Yrs.- 7 Yrs. 80 32.0 32.0 71.6
Valid 3=7 Yrs.-11 Yrs. 52 20.8 20.8 92.4
4=11 Yrs. & Above 19 7.6 7.6 100.0
Total 250 100.0 100.0
Table 4.3 From how many years have you been investing in mutual funds

Graph 4.3 From how many years have you been investing in mutual funds

Interpretation:
From the above graph and table shows that in this research project, highest respondents have
been investing in mutual funds from Less than 3 yrs. i.e. 39.60% and second highest respondents
have been investing in mutual funds from3 Yrs.- 7 Yrs. i.e. 32.00%. Lowest respondents have
been investing in mutual funds from 11 Yrs. & above i.e. 7.60%.

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4.4 How did you know about mutual funds?

Frequency Percent Valid Percent Cumulative Percent

1= Newspapers 48 19.2 19.2 19.2
2= Magazines 13 5.2 5.2 24.4
3= Internet 48 19.2 19.2 43.6
4= Television 28 11.2 11.2 54.8
Valid 5=Employee/
54 21.6 21.6 76.4
Friend Referrals
6=Agents 52 20.8 20.8 97.2
7=Others 7 2.8 2.8 100.0
Total 250 100.0 100.0
Table 4.4 How did you know about mutual funds

Graph 4.4 How did you know about mutual funds

Interpretation:
From the above graph and table shows that in this research project, highest respondents are
aware about Mutual fund through Employee/Friend Referrals i.e. 21.60% and second highest
respondents are aware about Mutual fund through agent i.e. 20.80%. Lowest respondents are
aware about Mutual fund through other i.e. 2.80%.

52 | P a g e
4.5 What percentage of your annual income do you invest in mutual funds?

Frequency Percent Valid Percent Cumulative

Percent
1= Less than 10% 123 49.2 49.2 49.2
2=Between 11% to 20% 88 35.2 35.2 84.4
Valid 3=Between 21% to 40% 37 14.8 14.8 99.2
4=More than 41% 2 .8 .8 100.0
Total 250 100.0 100.0
Table 4.5 What percentage of your annual income do you invest in mutual funds

Graph 4.5 What percentage of your annual income do you invest in mutual funds

Interpretation:
From the above graph and table shows that in this research project, highest respondents invest in
Mutual fund Less than 10% of their annual income i.e. 49.20% and second highest respondents
invest in Mutual fund between 11% to 20% of their annual income i.e. 35.20%. Lowest
respondents invest in Mutual fund More than 41% of their annual income i.e. 0.80%.

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4.6 In Which kind of Mutual Fund, you would like to invest?

Frequency Percent Valid Percent Cumulative Percent

1=Public 126 50.4 50.4 50.4

Valid 2=Private 124 49.6 49.6 100.0

Total 250 100.0 100.0

Table 4.6 In Which kind of Mutual Fund, you would like to invest

Graph 4.6 In Which kind of Mutual Fund, you would like to invest

Interpretation:
From the above graph and table shows that in this research project, respondents would like to
invest in private Mutual Fund i.e. 50.40% and respondents would like to invest in public Mutual
Fund i.e. 49.60%.

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4.7 In which company’s Mutual Funds, you have invested in?
4.7.1 Axis Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 39 15.6 15.6 15.6

Valid 2=No 211 84.4 84.4 100.0
Total 250 100.0 100.0
Table 4.7.1 Axis Fund

Graph 4.7.1 Axis Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Axis Bank Mutual Fund i.e. 15.60% and respondents have not invested in Axis Bank Mutual
Fund i.e. 84.60%.

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4.7.2 DSP Black Rock

Frequency Percent Valid Percent Cumulative Percent

1=Yes 51 20.4 20.4 20.4

Valid 2=No 199 79.6 79.6 100.0

Total 250 100.0 100.0

Table 4.7.2 DSP Black Rock

Graph 4.7.2 DSP Black Rock

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
DSP Black Rock Mutual Fund i.e. 20.40% and respondents have not invested in DSP Black
Rock Mutual Fund i.e. 79.60%.

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4.7.3 Aditya Birla Sun Life

Frequency Percent Valid Percent Cumulative Percent

1=Yes 40 16.0 16.0 16.0

Valid 2=No 210 84.0 84.0 100.0

Total 250 100.0 100.0

Table 4.7.3 Aditya Birla Sun Life

Graph 4.7.3 Aditya Birla Sun Life

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Aditya Birla Sun Life Mutual Fund i.e. 16.00 % and respondents have not invested in Aditya
Birla Sun Life Mutual Fund i.e. 84.00%.

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4.7.4 Reliance Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 91 36.4 36.4 36.4

Valid
2=No 159 63.6 63.6 100.0
Total 250 100.0 100.0
Table 4.7.4 Reliance Fund

Graph 4.7.4 Reliance Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Reliance Fund Mutual Fund i.e. 36.40 % and respondents have not invested in Reliance Fund
Mutual Fund i.e. 63.60%.

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4.7.5 UTI Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 49 19.6 19.6 19.6

Valid 2=No 201 80.4 80.4 100.0

Total 250 100.0 100.0

Table 4.7.5 UTI Fund

Graph 4.7.5 UTI Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
UTI Fund Mutual Fund i.e. 19.60 % and respondents have not invested in UTI Fund Mutual
Fund i.e. 80.40%.

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4.7.6 Kotak Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 61 24.4 24.4 24.4

Valid
2=No 189 75.6 75.6 100.0
Total 250 100.0 100.0
Table 4.7.6 Kotak Fund

Graph 4.7.6 Kotak Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Kotak Fund Mutual Fund i.e. 24.40 % and respondents have not invested in Kotak Fund
Mutual Fund i.e. 75.60%.

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4.7.7 SBI MF

Frequency Percent Valid Percent Cumulative Percent

1=Yes 61 24.4 24.4 24.4

Valid 2=No 189 75.6 75.6 100.0
Total 250 100.0 100.0
Table 4.7.7 SBI MF

Graph 4.7.7 SBI MF

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
SBI MF Mutual Fund i.e. 24.40 % and respondents have not invested in SBI MF Mutual Fund
i.e. 75.60%.

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4.7.8 Franklin Templeton

Frequency Percent Valid Percent Cumulative Percent

1=Yes 17 6.8 6.8 6.8

Valid
2=No 233 93.2 93.2 100.0
Total 250 100.0 100.0
Table 4.7.8 Franklin Templeton

Graph 4.7.8 Franklin Templeton

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Franklin Templeton Mutual Fund i.e. 6.80 % and respondents have not invested in Franklin
Templeton Mutual Fund i.e. 93.20%.

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4.7.9 ICICI Prudential Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 62 24.8 24.8 24.8

Valid
2=No 188 75.2 75.2 100.0
Total 250 100.0 100.0
Table 4.7.9 ICICI Prudential Fund

Graph 4.7.9 ICICI Prudential Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
ICICI Prudential Fund Mutual Fund i.e. 24.80 % and respondents have not invested in ICICI
Prudential Fund Mutual Fund i.e. 75.20%.

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4.7.10 Sundaram BNP Paribas

Frequency Percent Valid Percent Cumulative Percent

1=Yes 51 20.4 20.4 20.4

Valid 2=No 199 79.6 79.6 100.0
Total 250 100.0 100.0
Table 4.7.10 Sundaram BNP Paribas

Graph 4.7.10 Sundaram BNP Paribas

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Sundaram BNP Paribas Mutual Fund i.e. 20.4% and respondents have not invested in
Sundaram BNP Paribas Mutual Fund i.e. 79.60%.

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4.7.11 Motilal Oswal Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 15 6.0 6.0 6.0

Valid
2=No 235 94.0 94.0 100.0
Total 250 100.0 100.0
Table 4.7.11 Motilal Oswal Fund

Graph 4.7.11 Motilal Oswal Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
Motilal Oswal Fund Mutual Fund i.e. 6.00 % and respondents have not invested in Motilal
Oswal Fund Mutual Fund i.e. 94.00%.

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4.7.12 HDFC Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 17 6.8 6.8 6.8

Valid
2=No 233 93.2 93.2 100.0
Total 250 100.0 100.0
Table 4.7.12 HDFC Fund

Table 4.7.12 HDFC Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
HDFC Fund Mutual Fund i.e. 6.80 % and respondents have not invested in HDFC Fund
Mutual Fund i.e. 93.2 %.

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4.7.13 L&T Fund

Frequency Percent Valid Percent Cumulative Percent

1=Yes 80 32.0 32.0 32.0

Valid 2=No 170 68.0 68.0 100.0

Total 250 100.0 100.0

Table 4.7.13 L&T Fund

Table 4.7.13 L&T Fund

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
L&T Fund Mutual Fund i.e. 32.00 % and respondents have not invested in L&T Fund Mutual
Fund i.e. 68.00%.

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4.7.14 Other

Frequency Percent Valid Percent Cumulative Percent

1=Yes 24 9.6 9.6 9.6

Valid 2=No 226 90.4 90.4 100.0
Total 250 100.0 100.0
Table 4.7.14 Other

Table 4.7.14 Other

Interpretation:
From the above graph and table shows that in this research project, respondents have invested in
other Mutual Fund i.e. 9.6 % and respondents have not invested in other Mutual Fund i.e.
94.40%.

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4.8 Which asset class do you invest in?

Frequency Percent Valid Percent Cumulative Percent

1=Equity 103 41.2 41.2 41.2
2=Debt 13 5.2 5.2 46.4
3=Balanced 61 24.4 24.4 70.8
Valid 4=Liquid 11 4.4 4.4 75.2
5=Gold 59 23.6 23.6 98.8
6=Hybrid 3 1.2 1.2 100.0
Total 250 100.0 100.0
Table 4.8 Which asset class do you invest in

Graph 4.8 Which asset class do you invest in

Interpretation:
The above graph and table show that in this research project, more respondents invest in equity
class i.e. 41.20% and second highest respondent invest in balanced class i.e. 24.40%. The lowest
respondents invest in hybrid i.e. 1.20%. So, it shows that the respondents invest in equity who is
more invest in Mutual Fund in North Gujarat Region.

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4.9 Which types of funds do you prefer to invest in?

Frequency Percent Valid Percent Cumulative Percent

1=Open Ended 147 58.8 58.8 58.8

2=Close Ended 82 32.8 32.8 91.6
Valid
3=Interval 21 8.4 8.4 100.0
Total 250 100.0 100.0
Table 4.9 Which types of funds do you prefer to invest in

Graph 4.9 Which types of funds do you prefer to invest in

Interpretation:
The above graph and table show that in this research project, more respondents prefer to invest in
Open Ended i.e. 58.80% and second highest respondent prefer to invest in close Ended i.e.
32.80%. The lowest respondents prefer to invest in interval i.e. 8.40%. So, it shows that the
respondents prefer to invest in Open Ended Mutual Fund in North Gujarat Region.

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4.10 How would you like to receive the returns every year?

Frequency Percent Valid Percent Cumulative Percent

1= Dividend pay-out 69 27.6 27.6 27.6

2= Dividend re-
122 48.8 48.8 76.4
Valid investment
3=Growth in NAV 59 23.6 23.6 100.0
Total 250 100.0 100.0
Table 4.10 How would you like to receive the returns every year

Table 4.10 How would you like to receive the returns every year

Interpretation:
The above graph and table show that in this research project, more respondents would like to
receive the returns every year as Dividend re-investment i.e. 48.80% and second highest
respondent would like to receive the returns every year as Dividend pay-out i.e. 27.60%. The
lowest respondents would like to receive the returns every year as Growth in NAV i.e. 23.60%.
So, it shows that the respondents would like to receive the returns every year as Dividend re-
investment in North Gujarat Region.

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4.11 When you invest in mutual funds which modes of investment do you prefer?
Frequency Percent Valid Percent Cumulative Percent

1=One Time
117 46.8 46.8 46.8
Investment
2=Systematic
109 43.6 43.6 90.4
Valid Investment Plan (SIP)
3=Systematic
24 9.6 9.6 100.0
Transfer Plan (STP)
Total 250 100.0 100.0
Table 4.11 When you invest in mutual funds which modes of investment do you prefer

Graph 4.11 When you invest in mutual funds which modes of investment do you prefer

Interpretation:
The above graph and table show that in this research project, more respondents prefer One Time
Investment When you invest in Mutual Funds i.e. 46.80% and second highest respondent prefer
Systematic Investment Plan When you invest in Mutual Funds i.e. 43.60%. The lowest
respondents prefer Systematic Transfer Plan When you invest in Mutual Funds i.e. 9.60%. So, it
shows that the respondents prefer One Time Investment When you invest in Mutual Funds in
North Gujarat Region.

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4.12 State the motivation of factor for invest in mutual fund. Read the given statement and
put a tick mark based on the degree of agreeability.
4.12.1 Spouse

Frequency Percent Valid Percent Cumulative Percent

1=Extremely Influential 35 14.0 14.0 14.0

2=Very Influential 97 38.8 38.8 52.8
Valid 3=Somewhat Influential 52 20.8 20.8 73.6
4=Slightly Influential 19 7.6 7.6 81.2
5=Not at all Influential 47 18.8 18.8 100.0
Total 250 100.0 100.0
Table 4.12.1 Spouse

Graph 4.12.1 Spouse

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Spouse are Very Influential in Mutual Funds i.e. 38.80% and second highest
respondents who is motivated through Spouse are somewhat Influential in Mutual Funds i.e.
20.80%. The lowest respondents who are motivated through Spouse are Slightly Influential in
Mutual Funds i.e. 7.60%. So, it shows that the respondents who are motivated through Spouse
are Very Influential in Mutual Funds in North Gujarat Region.

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4.12.2 Parents

Frequency Percent Valid Percent Cumulative Percent

1=Extremely Influential 51 20.4 20.4 20.4

2=Very Influential 65 26.0 26.0 46.4
Valid 3=Somewhat Influential 60 24.0 24.0 70.4
4=Slightly Influential 26 10.4 10.4 80.8
5=Not at all Influential 48 19.2 19.2 100.0
Total 250 100.0 100.0
Table 4.12.2 Parents

Table 4.12.2 Parents

Interpretation:
The above graph and table show that in this research project, more respondents who is motivated
through parents are Very Influential in Mutual Funds i.e. 26.00% and second highest respondents
who is motivated through parents are somewhat Influential in Mutual Funds i.e. 24.00%. The
lowest respondents who are motivated through parents are Slightly Influential in Mutual Funds
i.e. 10.40%. So, it shows that the respondents who are motivated through parents are Very
Influential in Mutual Funds in North Gujarat Region.

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4.12.3 Friends/ Relatives
Frequency Percent Valid Percent Cumulative Percent

1=Extremely Influential 45 18.0 18.0 18.0

2=Very Influential 68 27.2 27.2 45.2
3=Somewhat Influential 44 17.6 17.6 62.8
Valid
4=Slightly Influential 27 10.8 10.8 73.6
5=Not at all Influential 66 26.4 26.4 100.0
Total 250 100.0 100.0
Table 4.12.3 Friends/ Relatives

Graph 4.12.3 Friends/ Relatives

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Friends/ Relatives are Very Influential in Mutual Funds i.e. 27.20% and
second highest respondents who is motivated through Friends/ Relatives are Not at all
Influential in Mutual Funds i.e. 26.40%. The lowest respondents who are motivated through
Friends/ Relatives are Slightly Influential in Mutual Funds i.e. 10.80%. So, it shows that the
respondents who are motivated through Friends/ Relatives are Very Influential in Mutual
Funds in North Gujarat Region.

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4.12.4 Colleagues
Frequency Percent Valid Percent Cumulative Percent

1=Extremely Influential 15 6.0 6.0 6.0

2=Very Influential 55 22.0 22.0 28.0
Valid 3=Somewhat Influential 68 27.2 27.2 55.2
4=Slightly Influential 26 10.4 10.4 65.6
5=Not at all Influential 86 34.4 34.4 100.0
Total 250 100.0 100.0
Table 4.12.4 Colleagues

Graph 4.12.4 Colleagues

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Colleagues are Not at all Influential in Mutual Funds i.e. 34.40% and second
highest respondents who is motivated through Colleagues are somewhat Influential in Mutual
Funds i.e. 27.20%. The lowest respondents who are motivated through Colleagues are
Extremely Influential in Mutual Funds i.e. 6.00%. So, it shows that the respondents who are
motivated through Colleagues are Not at all influential in Mutual Funds in North Gujarat
Region.

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4.12.5 Financial Advisors
Frequency Percent Valid Percent Cumulative Percent
1=Extremely Influential 34 13.6 13.6 13.6
2=Very Influential 56 22.4 22.4 36.0
3=Somewhat Influential 79 31.6 31.6 67.6
Valid
4=Slightly Influential 39 15.6 15.6 83.2
5=Not at all Influential 42 16.8 16.8 100.0
Total 250 100.0 100.0
Table 4.12.5 Financial Advisors

Graph 4.12.5 Financial Advisors

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Financial Advisors are somewhat Influential in Mutual Funds i.e. 31.60%
and second highest respondents who is motivated through Financial Advisors are very
Influential in Mutual Funds i.e. 22.40%. The lowest respondents who are motivated through
Financial Advisors are Extremely Influential in Mutual Funds i.e. 13.60%. So, it shows that the
respondents who are motivated through Financial Advisors are somewhat influential in Mutual
Funds in North Gujarat Region.

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4.12.6 Professional Bodies

Frequency Percent Valid Percent Cumulative Percent

1=Extremely Influential 22 8.8 8.8 8.8
2=Very Influential 46 18.4 18.4 27.2
3=Somewhat Influential 53 21.2 21.2 48.4
Valid
4=Slightly Influential 31 12.4 12.4 60.8
5=Not at all Influential 98 39.2 39.2 100.0
Total 250 100.0 100.0
Table 4.12.6 Professional Bodies

Table 4.12.6 Professional Bodies

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Professional Bodies are Not at all Influential in Mutual Funds i.e. 39.20%
and second highest respondents who is motivated through Professional Bodies are somewhat
Influential in Mutual Funds i.e. 21.20%. The lowest respondents who are motivated through
Professional Bodies are Extremely Influential in Mutual Funds i.e. 8.80%. So, it shows that the
respondents who are motivated through Professional Bodies are Not at all influential in Mutual
Funds in North Gujarat Region.

4.12.7 Media & Websites

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 Frequency Percent Valid Percent Cumulative Percent
1=Extremely Influential 49 19.6 19.6 19.6
2=Very Influential 55 22.0 22.0 41.6
3=Somewhat Influential 31 12.4 12.4 54.0
Valid
4=Slightly Influential 21 8.4 8.4 62.4
5=Not at all Influential 94 37.6 37.6 100.0
Total 250 100.0 100.0
Table 4.12.7 Media & Websites

Graph4.12.7 Media & Websites

Interpretation:
The above graph and table show that in this research project, more respondents who is
motivated through Media & Websites are Not at all Influential in Mutual Funds i.e. 37.60% and
second highest respondents who is motivated through Media & Websites are very Influential in
Mutual Funds i.e. 22.00%. The lowest respondents who are motivated through Media &
Websites are Slightly Influential in Mutual Funds i.e. 8.40%. So, it shows that the respondents
who are motivated through Media & Websites are Not at all influential in Mutual Funds in
North Gujarat Region.

4.13 Factor influencing towards investment behaviour?

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4.13.1 Safety of Principal

Frequency Percent Valid Percent Cumulative Percent

1=Strongly Agree 73 29.2 29.2 29.2
2= Agree 117 46.8 46.8 76.0
3=Neutral 48 19.2 19.2 95.2
Valid
4=Disagree 8 3.2 3.2 98.4
5=Strongly Disagree 4 1.6 1.6 100.0
Total 250 100.0 100.0
Table 4.13.1 Safety of Principal

Graph 4.13.1 Safety of Principal

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Safety of Principal are agree in Mutual Funds i.e. 46.80% and second
highest respondents who is influencing through Safety of Principal are strongly agree in Mutual
Funds i.e. 29.20%. The lowest respondents who is influencing through Safety of Principal are
strongly disagree in Mutual Funds i.e. 1.60%. So, it shows that the respondents who is
influencing through Safety of Principal are agree in Mutual Funds in North Gujarat Region.

4.13.2 Risk

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 44 17.6 17.6 17.6
2= Agree 93 37.2 37.2 54.8
3=Neutral 84 33.6 33.6 88.4
Valid
4=Disagree 24 9.6 9.6 98.0
5=Strongly Disagree 5 2.0 2.0 100.0
Total 250 100.0 100.0
Table 4.13.2 Risk

Graph 4.13.2 Risk

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through risk are agree in Mutual Funds i.e. 37.20% and second highest respondents
who is influencing through risk are neutral in Mutual Funds i.e. 33.60%. The lowest respondents
who is influencing through risk are strongly disagree in Mutual Funds i.e. 2.00%. So, it shows
that the respondents who is influencing through risk are agree in Mutual Funds in North Gujarat
Region.

4.13.3 Regular Return

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 82 32.8 32.8 32.8
2= Agree 93 37.2 37.2 70.0
3=Neutral 52 20.8 20.8 90.8
Valid
4=Disagree 19 7.6 7.6 98.4
5=Strongly Disagree 4 1.6 1.6 100.0
Total 250 100.0 100.0
Table 4.13.3 Regular Return

Graph 4.13.3 Regular Return

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Regular Return are agree in Mutual Funds i.e. 37.20% and second highest
respondents who is influencing through Regular Return are strongly agree in Mutual Funds i.e.
32.80%. The lowest respondents who is influencing through Regular Return are strongly
disagree in Mutual Funds i.e. 1.60%. So, it shows that the respondents who is influencing
through Regular Return are agree in Mutual Funds in North Gujarat Region.

4.13.4 Tax Benefits

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 28 11.2 11.2 11.2
2= Agree 102 40.8 40.8 52.0
3=Neutral 105 42.0 42.0 94.0
Valid
4=Disagree 13 5.2 5.2 99.2
5=Strongly Disagree 2 .8 .8 100.0
Total 250 100.0 100.0
Table 4.13.4 Tax Benefits

Graph 4.13.4 Tax Benefits

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Tax Benefits are neutral in Mutual Funds i.e. 42.00% and second highest
respondents who is influencing through Tax Benefits are agree in Mutual Funds i.e. 40.80%.
The lowest respondents who is influencing through Tax Benefits are strongly disagree in Mutual
Funds i.e. 0.80%. So, it shows that the respondents who is influencing through Tax Benefits are
neutral in Mutual Funds in North Gujarat Region.

4.13.5 Transparency

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 12 4.8 4.8 4.8
2= Agree 71 28.4 28.4 33.2
3=Neutral 118 47.2 47.2 80.4
Valid
4=Disagree 37 14.8 14.8 95.2
5=Strongly Disagree 12 4.8 4.8 100.0
Total 250 100.0 100.0
Table 4.13.5 Transparency

Graph 4.13.5 Transparency

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Transparency are neutral in Mutual Funds i.e. 47.20% and second highest
respondents who is influencing through Transparency are agree in Mutual Funds i.e. 28.40%.
The lowest respondents who is influencing through Transparency are strongly agree &disagree
in Mutual Funds i.e. 4.80%. So, it shows that the respondents who is influencing through
Transparency are neutral in Mutual Funds in North Gujarat Region.

4.13.6 Flexibility

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 28 11.2 11.2 11.2
2= Agree 75 30.0 30.0 41.2
3=Neutral 104 41.6 41.6 82.8
Valid
4=Disagree 31 12.4 12.4 95.2
5=Strongly Disagree 12 4.8 4.8 100.0
Total 250 100.0 100.0
Table 4.13.6 Flexibility

Graph 4.13.6 Flexibility

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Flexibility are neutral in Mutual Funds i.e. 41.60% and second highest
respondents who is influencing through Flexibility are agree in Mutual Funds i.e. 30.00%. The
lowest respondents who is influencing through Flexibility are strongly disagree in Mutual Funds
i.e. 4.80%. So, it shows that the respondents who is influencing through Flexibility are neutral
in Mutual Funds in North Gujarat Region.

4.13.7 Regular Income

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 19 7.6 7.6 7.6
2= Agree 75 30.0 30.0 37.6
3=Neutral 116 46.4 46.4 84.0
Valid
4=Disagree 34 13.6 13.6 97.6
5=Strongly Disagree 6 2.4 2.4 100.0
Total 250 100.0 100.0
Table 4.13.7 Regular Income

Graph 4.13.7 Regular Income

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Regular Income are neutral in Mutual Funds i.e. 46.40% and second
highest respondents who is influencing through Regular Income are agree in Mutual Funds i.e.
30.00%. The lowest respondents who is influencing through Regular Income are strongly
disagree in Mutual Funds i.e. 2.40%. So, it shows that the respondents who is influencing
through Regular Income are neutral in Mutual Funds in North Gujarat Region.

4.13.8 Liquidity

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 15 6.0 6.0 6.0
2= Agree 46 18.4 18.4 24.4
3=Neutral 121 48.4 48.4 72.8
Valid
4=Disagree 34 13.6 13.6 86.4
5=Strongly Disagree 34 13.6 13.6 100.0
Total 250 100.0 100.0
Table 4.13.8 Liquidity

Graph 4.13.8 Liquidity

Interpretation:
The above graph and table show that in this research project, more respondents who is
influencing through Liquidity are neutral in Mutual Funds i.e. 48.40% and second highest
respondents who is influencing through Liquidity are agree in Mutual Funds i.e. 18.40%. The
lowest respondents who is influencing through Liquidity are strongly agree in Mutual Funds i.e.
6.00%. So, it shows that the respondents who is influencing through Liquidity are neutral in
Mutual Funds in North Gujarat Region.

4.14 Objectives of investment in mutual fund?

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 Frequency Percent Valid Percent Cumulative Percent
1=Wealth Creation 103 41.2 41.2 41.2
2=Earn Regular Return 24 9.6 9.6 50.8
3=To payoff other
44 17.6 17.6 68.4
Investment
4=For Marriage Expenses 14 5.6 5.6 74.0
Valid 5=To Reduce Tax Burden 25 10.0 10.0 84.0
6=For Retirement Planning 16 6.4 6.4 90.4
7=For Children / Dependent
24 9.6 9.6 100.0
Education
Total 250 100.0 100.0
Table 4.14 Objectives of investment in mutual fund

Graph 4.14 Objectives of investment in mutual fund

Interpretation:
The above graph and table show that in this research project, Highest respondents are invested
in mutual fund for objective of wealth creation i.e. 41.20% and second highest respondents are
invested in mutual fund for objective to payoff other Investment i.e. 17.60%. The lowest
respondents are invested in mutual fund for objective of Marriage Expenses i.e. 5.60%. So, it
shows that the respondents are invested in mutual fund for objective of wealth creation in North
Gujarat Region.
4.15 Reason for invest in mutual fund schemes.

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4.15.1 It is a good investment instrument
Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 85 34.0 34.0 34.0
2= Agree 132 52.8 52.8 86.8
3=Neutral 29 11.6 11.6 98.4
Valid
4=Disagree 3 1.2 1.2 99.6
5=Strongly Disagree 1 .4 .4 100.0
Total 250 100.0 100.0
Table 4.15.1 It is a good investment instrument

Graph 4.15.1 It is a good investment instrument

Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because of good investment instrument are agree i.e. 52.80% and
second highest who are invested in mutual fund Because of good investment instrument are
strongly agree i.e. 34.00%. The lowest respondents who are invested in mutual fund Because of
good investment instrument are Strongly Disagree i.e. 0.40%. So, it shows that the respondents
who are invested in mutual fund Because of good investment instrument are agreeing in North
Gujarat Region.

4.15.2 It is better to invest in Mutual funds rather than investing directly in shares

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 49 19.6 19.6 19.6
2= Agree 131 52.4 52.4 72.0
3=Neutral 61 24.4 24.4 96.4
Valid
4=Disagree 8 3.2 3.2 99.6
5=Strongly Disagree 1 .4 .4 100.0
Total 250 100.0 100.0
Table 4.15.2 It is better to invest in Mutual funds rather than investing directly in shares

Graph 4.15.2 It is better to invest in Mutual funds rather than investing directly in shares
Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because It is better to invest in Mutual funds rather than investing
directly in shares are agree i.e. 52.40% and second highest who are invested in mutual fund
Because It is better to invest in Mutual funds rather than investing directly in shares are neutral
i.e. 24.40%. The lowest respondents who are invested in mutual fund Because It is better to
invest in Mutual funds rather than investing directly in shares are Strongly Disagree i.e. 0.40%.
So, it shows that the respondents who are invested in mutual fund Because It is better to invest
in Mutual funds rather than investing directly in shares are agree in North Gujarat Region.

4.15.3 They give assured and consistent return

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 Frequency Percent Valid Percent Cumulative Percent

1=Strongly Agree 40 16.0 16.0 16.0

2= Agree 122 48.8 48.8 64.8
3=Neutral 74 29.6 29.6 94.4
Valid
4=Disagree 10 4.0 4.0 98.4
5=Strongly Disagree 4 1.6 1.6 100.0
Total 250 100.0 100.0
Table 4.15.3 They give assured and consistent return

Graph 4.15.3 They give assured and consistent return

Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because They give assured and consistent return are agree i.e.
48.80% and second highest who are invested in mutual fund Because They give assured and
consistent return are neutral i.e. 29.60%. The lowest respondents who are invested in mutual
fund because they give assured and consistent return are Strongly Disagree i.e. 1.60%. So, it
shows that the respondents who are invested in mutual fund because they give assured and
consistent return are agreeing in North Gujarat Region.

4.15.4 They provide high return with low risk.

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 77 30.8 30.8 30.8
2= Agree 92 36.8 36.8 67.6
3=Neutral 56 22.4 22.4 90.0
Valid
4=Disagree 21 8.4 8.4 98.4
5=Strongly Disagree 4 1.6 1.6 100.0
Total 250 100.0 100.0
Table 4.15.4 They provide high return with low risk.

Graph 4.15.4 They provide high return with low risk.

Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because They provide high return with low risk are agree i.e. 36.80%
and second highest who are invested in mutual fund Because They provide high return with low
risk are strongly agree i.e. 30.80%. The lowest respondents who are invested in mutual fund
Because They provide high return with low risk are Strongly Disagree i.e. 1.60%. So, it shows
that the respondents who are invested in mutual fund Because They provide high return with
low risk are agree in North Gujarat Region.

4.15.5 Less calculation is required before investing when compared to share market.

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 Frequency Percent Valid Percent Cumulative Percent

1=Strongly Agree 32 12.8 12.8 12.8

2= Agree 69 27.6 27.6 40.4
3=Neutral 110 44.0 44.0 84.4
Valid
4=Disagree 29 11.6 11.6 96.0
5=Strongly Disagree 10 4.0 4.0 100.0
Total 250 100.0 100.0
Table 4.15.5 Less calculation is required before investing when compared to share market.

Graph 4.15.5 Less calculation is required before investing when compared to share market.
Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because Less calculation is required before investing when compared to
share market are neutral i.e. 44.00% and second highest who are invested in mutual fund
Because Less calculation is required before investing when compared to share market are agree
i.e. 27.60%. The lowest respondents who are invested in mutual fund Because Less calculation
is required before investing when compared to share market are Strongly Disagree i.e. 4.00%.
So, it shows that the respondents who are invested in mutual fund Because Less calculation is
required before investing when compared to share market are neutral in North Gujarat Region.

4.15.6 Very simple to invest & monitor fund performance on a regular basis.

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 Frequency Percent Valid Percent Cumulative Percent

1=Strongly Agree 26 10.4 10.4 10.4

2= Agree 71 28.4 28.4 38.8
3=Neutral 104 41.6 41.6 80.4
Valid
4=Disagree 46 18.4 18.4 98.8
5=Strongly Disagree 3 1.2 1.2 100.0
Total 250 100.0 100.0
Table 4.15.6 Very simple to invest & monitor fund performance on a regular basis.

Graph 4.15.6 Very simple to invest & monitor fund performance on a regular basis.
Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because Very simple to invest & monitor fund performance on a regular
basis are neutral i.e. 41.60% and second highest who are invested in mutual fund Because Very
simple to invest & monitor fund performance on a regular basis are degree i.e. 18.40%. The
lowest respondents who are invested in mutual fund Because Very simple to invest & monitor
fund performance on a regular basis are Strongly Disagree i.e. 1.20%. So, it shows that the
respondents who are invested in mutual fund Because Very simple to invest & monitor fund
performance on a regular basis are neutral in North Gujarat Region.
4.15.7 Mutual Funds provide the benefit of cheap access to expensive stocks.

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 29 11.6 11.6 11.6
2= Agree 61 24.4 24.4 36.0
3=Neutral 102 40.8 40.8 76.8
Valid
4=Disagree 44 17.6 17.6 94.4
5=Strongly Disagree 14 5.6 5.6 100.0
Total 250 100.0 100.0
Table 4.15.7 Mutual Funds provide the benefit of cheap access to expensive stocks.

Graph 4.15.7 Mutual Funds provide the benefit of cheap access to expensive stocks.

Interpretation:
The above graph and table show that in this research project, highest respondents who are
invested in mutual fund Because Mutual Funds provide the benefit of cheap access to expensive
stocks are neutral i.e. 40.80% and second highest who are invested in mutual fund Because
Mutual Funds provide the benefit of cheap access to expensive stocks are agree i.e. 24.40%. The
lowest respondents who are invested in mutual fund Because Mutual Funds provide the benefit
of cheap access to expensive stocks are Strongly Disagree i.e. 5.60%. So, it shows that the
respondents who are invested in mutual fund Because Mutual Funds provide the benefit of
cheap access to expensive stocks are neutral in North Gujarat Region.
4.15.8 Mutual funds diversify the risk of the investor by investing in a basket of assets.

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 Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 21 8.4 8.4 8.4
2= Agree 54 21.6 21.6 30.0
3=Neutral 99 39.6 39.6 69.6
Valid
4=Disagree 52 20.8 20.8 90.4
5=Strongly Disagree 24 9.6 9.6 100.0
Total 250 100.0 100.0
Table 4.15.8 Mutual funds diversify the risk of the investor by investing in a basket of assets.

Graph 4.15.8 Mutual funds diversify the risk of the investor by investing in a basket of assets.
Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because Mutual funds diversify the risk of the investor by investing in a
basket of assets are neutral i.e. 39.60% and second highest who are invested in mutual fund
Because Mutual funds diversify the risk of the investor by investing in a basket of assets are
agree i.e. 21.60%. The lowest respondents who are invested in mutual fund Because Mutual
funds diversify the risk of the investor by investing in a basket of assets are strongly agree i.e.
8.40%. So, it shows that the respondents who are invested in mutual fund Because Mutual funds
diversify the risk of the investor by investing in a basket of assets are neutral in North Gujarat
Region.

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4.15.9 Professional fund managers manage them with in-depth research inputs from
investment analysts.
Frequency Percent Valid Percent Cumulative Percent
1=Strongly Agree 19 7.6 7.6 7.6
2= Agree 60 24.0 24.0 31.6
3=Neutral 92 36.8 36.8 68.4
Valid
4=Disagree 40 16.0 16.0 84.4
5=Strongly Disagree 39 15.6 15.6 100.0
Total 250 100.0 100.0
Table 4.15.9 Professional fund managers manage them with in-depth research inputs from investment
analysts.

Graph 4.15.9 Professional fund managers manage them with in-depth research inputs from investment
analysts.
Interpretation:
The above graph and table show that in this research project, Highest respondents who are
invested in mutual fund Because Professional fund managers manage them with in-depth
research inputs from investment analysts are neutral i.e. 36.80% and second highest who are
invested in mutual fund Because Professional fund managers manage them with in-depth

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research inputs from investment analysts are agree i.e. 24.00%. The lowest respondents who are
invested in mutual fund Because Professional fund managers manage them with in-depth
research inputs from investment analysts are strongly agree i.e. 7.60%. So, it shows that the
respondents who are invested in mutual fund Because Professional fund managers manage them
with in-depth research inputs from investment analysts are neutral in North Gujarat Region.

4.16 Satisfaction level for investment in mutual fund?

Frequency Percent Valid Percent Cumulative Percent

1=Highly Satisfied 27 10.8 10.8 10.8

2=Satisfied 173 69.2 69.2 80.0
3=Neutral 39 15.6 15.6 95.6
Valid
4=Dissatisfied 5 2.0 2.0 97.6
5=Highly Dissatisfied 6 2.4 2.4 100.0
Total 250 100.0 100.0
Table 4.16 Satisfaction level for investment in Mutual Fund

Graph 4.16 Satisfaction level for investment in Mutual Fund

Interpretation:
The above graph and table show that in this research project, highest respondents are satisfied
for investment in Mutual Fund i.e. 69.20% and second highest are neutral for investment in
Mutual Fund i.e. 10.80%. The lowest respondents are dissatisfied for investment in Mutual Fund

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i.e. 2.00%. So, it shows that the respondents are satisfied for investment in Mutual Fund in
North Gujarat Region.

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