Lxami Koujageri

“A STUDY ON COMPARATIVE ANASYSIS OF ADITYA BIRLA SUNLIFE EQUITY FUND AND SBI FOCUSED EQUITY FUND”.
“A STUDY ON COMPARATIVE ANALYSIS OF ADITYA BIRLA

SUNLIFE EQUITY FUND AND SBI FOCUSED EQUITY FUND”
REPORT SUBMITTED TO
KARNATAK
UNIVERSITYDHARWAD
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR
THE AWARD OF DEGREE IN
MASTER OF BUSINESS ADMINISTRATION
SUBMITTED
BY
LAXMI
KOUJAGERI
19MBA318
UNDER THE GUIDANCE
OF
PROF. V. R. HIREMATH
2021
INSTITUTE OF EXCELLENCE IN MANAGEMENT

SCIENCE HUBBALI – 580026
Institute of Excellence in Management Science, Hubli.

ACKNOWLEDGEMENT
First and foremost, I thank almighty for keeping me hale and healthy for successful
completion of the project.
I express my deepest gratitude to Our Director Dr. S. R. Patil who had given this
opportunity to do this project.
I sincerely thank to my guide, PROF.V.R HIREMATH for his kind words and
continuous encouragement which has inspired me in completion of this project.
I am also taking the pleasure to express my sincere thanks to all other staff
members of The Department of Management Studies, Institute Of Excellence In
Management Science B. School for their kind co-operation.
Last but not least, I would like to convey my sincere gratitude to my parents and
friends, who
have always been source for the completion of this project.
Name: Laxmi Koujageri
Reg. No.: 19MBA318

DECLARATION
I hereby declare that the project report Titled “A STUDY ON COMPARATIVE

ANASYSIS OF ADITYA BIRLA SUNLIFE EQUITY FUND AND SBI FOCUSED
EQUITY FUND”. is my original work and has not been published or submitted for any
degree or other similar titles elsewhere This has been undertaken for the purpose of partial
fulfilment of POST GRADUATE MBA at Institute of Excellence in Management Science
B-School Hubli.
Date: 25/08/2021 Name: LAXMI KOUJAGERI
Place: HUBBLI Registration No: 19MBA318

TABLE OF CONTENTS
CHAPTER CONTENTS
1 INTRODUCTION
Topic chosen for the study
Need for the study
Objective of the study
Scope of the study
Methodology adopted
Literature review
Limitations of the study
2 COMPANY PROFILE
History of the company
Organization structure
Promoters
Vision and mission
Infrastructure facilities
Competitors
Swot analysis
Future growth and prospects
3 THEORETICAL BACKGROUND OF THE STUDY

4 DATA ANALYSIS AND INTERPRETATION
5 SUMMARY OF FINDINGS , CONCLUSION

&SUGGESTION
CONCLUSION
BIBLIOGRAPHY

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY
Mutual fund pool money from different investors and invest in different
investment sources like stocks, shares, bonds etc. A professional fund manager
manages these and returns are paid in form of returns that are less in risk and some
offer dividends based on the market fluctuations and prices. Mutual fund have to be
subscribed in units and the purchase or sale is depended on NAV(net asset
value),taking into considerations the exit and entry load factors into account.
In few years mutual funds has emerged as a tool for ensuring one, financeable being
.Mutual fund have not only contribute to the India growth story but have also helped
families tap in to the success of Indian industry .As information and awareness is
rising more and more people are enjoying the benefits of investing in mutual funds
.The main reason the number of retail mutual fund investors remains small is that
nine in ten people with incomes in India do not know that mutual funds exist . But
once people aware of mutual fund investment opportunities , the number who decide
to invest in mutual funds increases to as many as one in five people .The risk for
converting a person with no knowledge of mutual funds to a new mutual fund
customer is to understand which of the potential investor are more likely to buy
mutual funds and to use the right arguments in the sales process that customers will
accept as important and relevant to their decision .
The project gives me a learning experience and at the same time is give me enough
scope to implement my analytical ability. The analysis and advise present in this
project reports based on market research on the saving and investing practices of the
investors and preferences of the investor for invest in mutual funds .This report will
half to know about the investor preferences in mutual fund means are they prefer any
particular assets management company ( AM C) , which types of product they prefer ,
which option ( growth or dividend ) they prefer or which investment strategy they
follow ( systematic investment plan or our time plane ) .This project as a whole can be
divided in two parts

CHAPTER 1
INTRODUCTION
Introduction of the study

Mutual fund has become a very popular way to take some of the risk out of investing
in individualists by investors. Mutual funds are a collection of stocks selected by mutual fund
seller and sold to investors as shares in a fund. These are several types of funds that you can
invest in. some of the more popular types are technology funds, growth funds, security funds,
and income funds. Mutual funds are very popular because they allow you to invest in a
number of stocks therefore greatly reducing the risk associated with putting your money in an
individual stock.
Mutual funds have become one of the most attractive way for the average person to invest
their money. A mutual fund pools resources from thousands of investors and then diversifies
its investment in to different holdings such as stocks, bonds, securities, in order to provide
high relative safety and returns.
Mutual funds now represent perhaps the most appropriate opportunity for most investors. It is
no wonder that birthplace of mutual funds – the U.S. A- the fund industry has already
overtaken the banking industry. The Indian industry has already started opening up many of
the exciting investment opportunities to Indian investor.
Though not insured like banks, mutual funds generally provide more return than the current
one to two percent obtainable through banks while still being one of the safest ways to grow
your money. These are an endless variety of mutual fund investment choice depending on the
degree of risk you feel comfortable with.
Mutual funds have emerged as proffessionalinterrmediaries. Besides providing the expertise
in stock market investing, these funds allow investing in small amounts and yet holding a
diversified portfolio to a limit

CHOSEN FOR THE STUDY
 This study covers an in-depth analysis of risk and return of two mutual fund schemes
Aditya Birla SunLife Equity Fund and SBI Focused Equity Fund
These studies would reveal which fund is providing better returns
 In the project the risk and return, and performance measurements are calculated for
making analysis and comparison of aditya Birla sun life equity fund and SBI focused
equity fund
 The calculation are done in excel sheet then it is turned to word document the following
are the measures for the risk and return calculation
Risk Measurement:
The research has been done by using the following statistical techniques
 Mean
 Standard deviation
 Variance

Need of the study:
 Major purpose of studying this topic is to analyze the risk and return of aditya Birla equity
fund and SBI focused equity fund and to know the fund’s performance for investment
 The main purpose of doing this project was to know about mutual fund and its functioning.
 This helps to know in detail about mutual fund right from its inception stage, growth and
future prospects.
 It also helps in understanding different Schemes of mutual fund
 .states the advantages and disadvantages to invest in mutual fund
 It takes into consideration only two schemes
Objectives of the study
 To study about mutual fund concept
 To study the selected mutual fund schemes
 To know the performance of Aditya Birla sunlife equity fund and SBI focused equity
fund
 To know the risk and return of selected mutual fund scheme
Scope of the Study:

 The study enables to know the crucial role of the mutual fund in India
 The study enables to study on various schemes in mutual fund and its risk
 To analyze the mutual fund and suggesting people to invest money in mutual fund

REASERCH METHODOLOGY
METHODOLOGY ADOPTED:
Data collection:
Data collection methods: Data has been collected through secondary sources.
1) Secondary data: data which has been already collected and analyzed by
enumerators. Secondary data is also called as second hand data.
Secondary data has been collected through the internet

Websites
magazines
journals
books

Literature Review
Dr.SandeepBansal, Deepak Garg and Sanjeev K Saint (2012), have studied Impact of Sharpe
Ratio &Treynor’s Ratio on Selected Mutual Fund Schemes. This paper examines the
performance of selected mutual fund schemes, that the risk profile of the aggregate mutual fund
universe can be accurately compared by a simple market index that offers comparative monthly
liquidity, returns, systematic & unsystematic risk and complete fund analysis by using the
special reference of Sharpe ratio and Treynor’s ratio.
Dr. K. Veeraiah and Dr. A. Kishore Kumar (Jan 2014),conducted a research on Comparative
Performance Analysis of Select Indian Mutual Fund Schemes. This study analyses the
performance of Indian owned mutual funds and compares their performance. The performance
of
these funds was analyzed using a five year NAVs and portfolio allocation. Findings of the study
reveals that, mutual funds out perform naïve investment. Mutual funds as a medium-to-long
term investment option are preferred as a suitable investment option by investors.
Dsr. Yogesh Kumar Mehta (Feb 2012), has studied Emerging Scenario of Mutual Funds in
India: An Analytical Study of Tax Funds. The present study is based on selected equity funds of
public sector and private sector mutual fund. Corporate and Institutions who form only 1.16% of
the total number of investors accounts in the MFs industry, contribute a sizeable amount of Rs.
2,87,108.01 crore which is 56.55% of the total net assets in the MF industry. It is also found that
MFs did not prefer debt segment.
DrSurender Kumar Gupta and Dr.SandeepBansal (Jul 2012),have done a Comparative

Study on Debt Scheme of Mutual Fund of Reliance and Birla Sunlife.This study provides an
overview of the performance of debt scheme of
mutual fund of Reliance, and Birla Sun life with the help of Sharpe Index after calculating Net
Asset Values and Standard Deviation. This study reveals that returns on Debt Schemes are close

to Benchmark return (Crisil Composite Debt Fund Index: 4.34%) and Risk Free Return: 6%
(average adjusted for last five year).
Prof. V. Navajo and Dr. R. Karrupasamy (2013), have done a Study on the Performance of
select Private Sector Balanced Category Mutual Fund Schemes in India. This study of
performance evaluation would help the investors to choose the best schemes available and will
also help the AUM’s in better portfolio construction and can rectify the problems of
underperforming schemes. The objective of the study is to evaluate the performance of select
Private sector balanced schemes on the basis of returns and comparison with their bench marks
and also to appraise the performance of different category of funds using risk adjusted measures
as suggested by Sharpe, Tenor and Jensen.
E. Priyadarshini and Dr. A. Chandra Babul (2011), have done Prediction of The Net Asset
Values of Indian Mutual Funds Using Auto- Regressive Integrated Moving Average (Arima). In
this paper, some of the mutual funds in India had been modeled using Box-Jenkins
autoregressive integrated moving average (ARIMA) methodology. Validity of the models was
tested using standard statistical techniques and the future NAV values of the mutual funds have
been forecasted.
Dr.Ranjit Singh, Dr.Anurag Singh and Dr. H. Ramananda Singh (August 2011), have done
research on Positioning of Mutual Funds among Small Town and Sub-Urban Investors. In the
recent past the significant proportion of the investment of the urban investor is being attracted by
the mutual funds. This has led to the saturation of the market in the urban areas. In order to
increase their investor base, the mutual fund companies are exploring the opportunities
in the small towns and sub-urban areas. But marketing the mutual funds in these areas requires
the positioning of the products in the minds of the investors in a different way. The product has
to be acceptable to the investors, it should be affordable to the investors, it should be made
available to them and at the same time the investors should be aware of it. The present paper
deals with all these issues. It measures the degree of influence on acceptability, affordability,

availability and awareness among the small town and sub-urban investors on their investment
decisions.
Limitation of the Study:
The following are the limitation of the study.
Lack of time The study is based on secondary data
It takes only two schemes into consideration
Time is the constraint. The study is limited to 60 days

COMPANY PROFILE

ADITYA BIRLA SUN LIFE.

Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), the investment
managers of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla
Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the
Aditya Birla Group's experience in the Indian market and Sun Life's global experience.
Established in 1994, Aditya Birla Sun Life Mutual fund has emerged as one of India's leading
flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer
a range of investment options, including diversified and sector specific equity schemes, fund of
fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and
offshore funds.
Aditya Birla Sun Life Asset Management Company has one of the largest team of research
analysts in the industry, dedicated to tracking down the best companies to invest in. ABSLAMC
strives to provide transparent, ethical and research-based investments and wealth management
services.

The Aditya Birla Group

The Aditya Birla Group is one of India's largest business houses. Global in vision, rooted in
Indian values, the Group is driven by a performance ethic pegged on value creation for its
multiple stakeholders.
The Group operates in 26 countries – India, UK, Germany, Hungary, Brazil, Italy, France,
Luxembourg, Switzerland, Australia, USA, Canada, Egypt, China, Thailand, Laos, Indonesia,
Philippines, UAE, Singapore, Myanmar, Bangladesh, Vietnam, Malaysia, Bahrain and Korea.
A US $29 billion corporation in the League of Fortune 500, the Aditya Birla Group is anchored
by an extraordinary work force of 130,000 employees, belonging to 40 different nationalities.
Over 60 per cent of its revenues flow from its operations across the world.
The Aditya Birla Group is a dominant player in all its areas of operations via; Aluminium,
Copper, Cement, Viscose Staple Fibre, Carbon Black, Viscose Filament Yarn, Fertilisers,
Insulators, Sponge Iron, Chemicals, Branded Apparels, Insurance, Mutual Funds, Software and
Telecom. The Group has strategic joint ventures with global majors such as Sun Life (Canada),
AT&T (USA), the Tata Group and NGK Insulators (Japan), and has ventured into the BPO
sector with the acquisition of TransWorks, a leading ITES/BPO company.
Sun Life Financial


Sun Life Financial Inc. is a leading international financial services organization providing a
diverse range of wealth accumulation and protection products and services to individuals and
corporate customers. Chartered in 1865, Sun Life Financial Inc and its partners today have
operations in key
Markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, China and Bermuda
Products of Birla sun life mutual fund
Equity schemes
1) Diversified Fund
2) Theme Based Fund
Debt schemes
1) Interval Income Funds
2) Fixed Maturity Plan
.
Hybrid schemes
1. Capital protection fund
2. Balanced fund
Competitor:

 HDFC Mutual fund

 SBI mutual fund
 Aditya capital sun life ltd
 Kotuku mutual fun
 Icici prudential mutual fund
SWOT ANALYSIS OF BIRLA SUN LIFE MUTUAL FUNDS:
Strength:
Below are the Strengths in the SWOT Analysis of Birla Sun Life:
1. Has Network of 600 branches and advisors spread over 1500 towns in India having over
130,000 advisors
2. Backed By Aditya Birla Brand and Sun Life financial services
3. Emphasis on Customer Satisfaction through Transparent Functioning
4. Strong Capital Base
Weakness:
Here are the weaknesses in the Birla Sun Life SWOT Analysis:
1. Low Presence in Rural Market

2. Lesser advertising as compared to competitors


Company Vision and Mission:
Company Vision:
 To be a leader and role model in a broad-based and integrated financial services

business.
 To be a premium global conglomerate with a clear focus on each of the business
 To be the most trusted name in investment and wealth management
 To be the preferred employer in the industry
 To be a excellence of the assets management business in India
Company Mission:
 To deliver superior value to our customer, shareholder, employs and society at large
 Creating a conducive environment to hone and retain talent
 Providing customer delight
Values
Integrity
Commitment
Passion
Seamlessness
speed

SBI MUTUAL FUND
 The mutual fund industry in India originally began in 1963 with the Unit Trust of India
(UTI) as a Government of India and the Reserve Bank of India initiative. Launched in
1987, SBI Mutual Fund became the first non-UTI mutual fund in India. In July 2004,
State Bank of India decided to divest 37 per cent of its holding in its mutual fund arm,
SBI Funds Management Pvt Ltd, to Society Generate Asset Management, for an amount
in excess of $35 million.
 Post-divestment, State Bank of India's stake in the mutual fund arm came down to 67%.
In May 2011, Amundi picked up 37% stake in SBI Funds Management, that was held by
Societe Generale Asset Management, as part of a global move to merge its asset
management business with Crédit Agricole
 SBI Funds Management Private Limited (SBIFMPL) has been appointed as the Asset
Management Company of the SBI Mutual Fund. SBIFMPL is a joint venture between the
State Bank of India, an Indian public sector bank and Amundi, a European assets
management company.
 As of September, 2019, the fund house claims to serve 5,809,315 unique investors
through approximately 212 branches PAN India

Company Vision and Mission:
Company Vision:
 We will create products and services that help our customers achieve their goals. We will
go beyond the call of duty to make our customers feel valued. We will be of service even
in the remotest part of our country.
 We will offer excellence in services to those abroad as much as we do to those in India.
Company Mission:
 An organization's mission defines the overall purpose of the organization. ... Conversely,
the vision statement describes to where the company or organization hopes they will be
going in the future if they can fulfill their mission
Competitor:
 HDFC Mutual fund

 Sundaram Mutual fund
 IDBI Mutual fund
 Adhitya capital sun life ltd
 Kotak mutual fund

SWOT ANALYSIS OF SBI MUTUAL FUNDS:
Strength:
 SBI mutual fund is a sponsored by state bank of India which is the more than the 200
years old, largest lender in the country and having a massive network of over 13000
branches in India
 Brand Strategy: As opposed to some of its competitors ( e.g HSBS). Reliance ADAG
operate a multi brand strategy. The company operates under numerous well-known brand
names, which allows the company to appeal to many different segment of the market.
 Distribution Channel strategy: Reliance is continuously improving the distribution of its
products. Its online and internet based access offers a combination of excellent growth
prospects and its retail direct business also saw growth of 27% in 2002 and 15%2003.
 Large pool: of installed capacities.
 Experienced management: For large number of gentries
 Large pool of skilled and knowledge manpower
 Increasing liberalization: of government policy
Weakness:
 Immense competition means limited market share growth for SBI

 International presence is less as compared to global banks

CHAPTER – 3
THEROETICAL BACKGROUND OF THE STUDY

Mutual Fund:-
Introduction:
Mutual fund is a professional managed trust that pools the savings of many investor and invest
them in securities like stocks, bonds and short term money market instrument and commodities
such as precious metals. Investor in a mutual fund has a common financial goals and their
money is invested in different assets classes in accordance with the fund’s investment objectives.
Investment in mutual funds entail comparatively small amounts, giving retail investor the
advantages of having financial professional control on their money even if it is a few thousands
rupees.
Mutual funds are pooled investment vehicles actively managed either by professional fund
manager or passively tracked by an index or industry. The funds are generally well diversified to
offset potential losses. They offer an attractive way for savings to be managed in a passive
manner without paying high fees or requiring constant attention from individual investor.
Mutual funds present an option for investors who lack the time or knowledge to make traditional
and complex investment decisions. By putting your money in a mutual fund, you permit the
portfolio manager to make those essential decisions for you.
What is Mutual fund?
A mutual fund is a professional managed investment fund that pools money from many investor
to purchase securities. These investor may be retail or institutional in nature.
A mutual fund is a type of financial vehicle made up of a pool of money collected from many
investor to invest in securities such a stocks, bonds, money market instrument and other assets.
Mutual funds are operated by professional money managers, who allocate the funds assets and
attempt to produce capital gains or income for the funds invested. A mutual funds portfolio is
structured and maintained to match the investment objectives stated in its prospector.

History of Mutual funds:
Prof K Geert Rouwenhorst in 'The Origins of Mutual Funds', states that the origin of pooled
investing concept dates back to the late 1700s in Europe, when "a Dutch merchant and broker
invited subscriptions from investors to form a trust to provide an opportunity to diversify for
small investors with limited means." The emergence of "investment pooling" in England in the
1800s brought the concept closer to the US shores.
The enactment of two British laws, the Joint Stock Companies Acts of 1862 and 1867, permitted
investors to share in the profits of an investment enterprise and limited investor liability to the
liability to the amount of investment capital devoted to the enterprise. Shortly thereafter, in
1868, the Foreign and Colonial Government Trust was formed in London.
It resembled the US fund model in basic structure, providing "the investor of moderate means
the same advantages as the large capitalists by spreading the investment over a number of
different stocks." More importantly, the British fund model established a direct link with the US
securities markets, helping finance the development of the post-Civil War US economy.
The Scottish American Investment Trust, formed in February 1873, by fund pioneer Robert
Fleming, invested in the economic potential of the US, chiefly through American railroad bonds.
Many other trusts followed them, who not only targeted investment in America, but led to the
introduction of the fund investing concept on the US shores in the late 1800s and the early
1900s. The first mutual or 'open-ended' fund was introduced in Boston in March 1924. The
Massachusetts Investors Trust, which was formed as a common law trust, introduced important
innovations to the investment company concept by establishing a simplified capital structure,
continuous offering of shares, and the ability to redeem shares rather than holding them until
dissolution of the fund and a set of clear investment restrictions as well as policies.
The stock market crash of 1929 and the Great Depression that followed greatly hampered the
growth of pooled investments until a succession of landmark securities laws, beginning with the
Securities Act, 1933 and concluded with the Investment Company Act, 1940, reinvigorated

investor confidence. Renewed investor confidence and many innovations led to relatively steady
growth in industry assets and number of accounts.
The Mutual fund industry in India:
The mutual fund industry in India started in 1963 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 then was to attract small investors and introduce them to market investments. Since
then, the history of mutual funds in India can be broadly divided into six distinct phases.
Phase I (1964-87): Growth Of UTI:
In 1963, UTI was established by an Act of Parliament. As it was the only entity offering mutual
funds in India, it had a monopoly. Operationally, UTI was set up by the Reserve Bank of India
(RBI), but was later delinked from the RBI. The first scheme, and for long one of the largest
launched by UTI, was Unit Scheme 1964.
Later in the 1970s and 80s, UTI started innovating and offering different schemes to suit the
needs of different classes of investors. Unit Linked Insurance Plan (ULIP) was launched in
1971. The first Indian offshore fund, India Fund was launched in August 1986. In absolute
terms, the investible funds corpus of UTI was about Rs 600 crores in 1984. By 1987-88, the
assets under management (AUM) of UTI had grown 10 times to Rs 6,700 crores.
Phase II (1987-93): Entry of Public Sector Funds:
The year 1987 marked the entry of other public sector mutual funds. With the opening up of the
economy, many public sector banks and institutions were allowed to establish mutual funds. The
State Bank of India established the first non-UTI Mutual Fund, SBI Mutual Fund in November
1987. This was followed by Canbank Mutual Fund,LIC Mutual Fund, Indian Bank Mutual Fund,
Bank of India Mutual Fund, GIC Mutual Fund and PNB Mutual Fund. From 1987-88 to 1992-

93, the AUM increased from Rs 6,700 cores to Rs 47,004 crores, nearly seven times. During this
period, investors showed a marked interest in mutual funds, allocating a larger part of their
savings to investments in the funds.
Phase III (1993-96): Emergence of Private Funds:
A new era in the mutual fund industry began in 1993 with the permission granted for the entry of
private sector funds. This gave the Indian investors a broader choice of 'fund families' and
increasing competition to the existing public sector funds. Quite significantly foreign fund
management companies were also allowed to operate mutual funds, most of them coming into
India through their joint ventures with Indian promoters.
The private funds have brought in with them latest product innovations, investment management
techniques and investor-servicing technologies. During the year 1993-94, five private sector
fund houses launched their schemes followed by six others in 1994-95.
Phase IV (1996-99): Growth And SEBI Regulation:
Since 1996, the mutual fund industry scaled newer heights in terms of mobilization of funds and
number of players. Deregulation and liberalization of the Indian economy had introduced
competition and provided impetus to the growth of the industry.
A comprehensive set of regulations for all mutual funds operating in India was introduced with
SEBI (Mutual Fund) Regulations, 1996. These regulations set uniform standards for all funds.
Erstwhile UTI voluntarily adopted SEBI guidelines for its new schemes. Similarly, the budget of
the Union government in 1999 took a big step in exempting all mutual fund dividends from
income tax in the hands of the investors. During this phase, both SEBI and Association of
Mutual Funds of India (AMFI) launched Investor Awareness Programme aimed at educating the
investors about investing through MFs.

Phase V (1999-2004): Emergence of a Large and Uniform Industry:
The year 1999 marked the beginning of a new phase in the history of the mutual fund industry in
India, a phase of significant growth in terms of both amount mobilized from investors and assets
under management. In February 2003, the UTI Act was repealed. UTI no longer has a special.
Phase VI (From 2004 Onwards): Consolidation and Growth:
The industry has lately witnessed a spate of mergers and acquisitions, most recent ones being the
acquisition of schemes of Allianz Mutual Fund by Birla Sun Life, PNB Mutual Fund by
Principal, among others. At the same time, more international players continue to enter India
including Fidelity, one of the largest funds in the world. The emergence of a uniform industry
with the same structure, operations and regulations make it easier for distributors and investors
to deal with any fund house legal status as a trust established by an act of Parliament. Instead it
has adopted the same structure as any other fund in India - a trust and an AMC.
UTI Mutual Fund is the present name of the erstwhile Unit Trust of India (UTI). While UTI
functioned under a separate law of the Indian Parliament earlier, UTI Mutual Fund is now under
the SEBI's (Mutual Funds) Regulations, 1996 like. Between 1999 and 2005 the size of the
industry has doubled in terms of AUM which have gone from above Rs 68,000 crores to over Rs
1,50,000crores.
Mutual fund regulation in India:

A mutual fund is a trust made up of money collected from public or investors through the sale of
units for investment in securities such as stocks, bonds, and money market instruments. Mutual
Funds in India are governed by the Securities Exchange Board of India (Mutual Fund)
Regulations 1996 with the exception of Unit Trust of India (UTI) as it was created by the UTI
Act passed by the Parliament of India. All mutual funds must be registered with SEBI.
Some SEBI regulations for mutual funds:
Mutual funds must set up AMC with 50% independent directors, a separate board of trustee
companies with minimum 50% of independent trustees and independent custodians to ensure an
arm’s length relationship between trustees, fund managers, and custodians. As the funds are
managed by AMCs and the custody of assets are with trustees, a counter balancing of risks
exists as both can keep tabs on each other.
SEBI takes care of the track record of a Sponsor, integrity in business transactions and financial
soundness while granting permission. The particulars of schemes are required to be vetted by
SEBI. Mutual funds must adhere to a code of advertisement.
As per the current SEBI guidelines, mutual funds must have a minimum of Rs. 50 corer for an
open-ended scheme, and Rs. 20 crorecorpus for the closed-ended scheme. Within nine months,
mutual funds must invest money raised from the saving schemes. This protects the mutual funds
from the disadvantage of investing funds in the bullish market and suffering from poor NAV
after that. Mutual funds can invest a maximum of 25% in money market instruments in the first
six months after closing the funds and a maximum of 15% of the corpus after six months to meet
short-term liquidity requirements.
SEBI inspects mutual funds every year to ensure compliance with the regulations.
Association of Mutual Fund in India (AMFI):

The Association of Mutual Funds in India (AMFI) is an industry standards organization

in India in the mutual funds sector. It was formed in 1995. Most mutual funds firms in India are
its members. The organization aims to develop the mutual funds market in India, by improving
ethical and professional standards. AMFI was incorporated on 22 August 1995. As of April
2015, there are 44 members.
List of Mutual fund companies in India.
 Axis Asset Management Company Ltd.

 Aditya Birla Sun Life AMC Limited
 Baroda Asset Management India Limited
 BNP Paribas Asset Management India Private Limited
 BOI AXA Investment Managers Private Limited
 CanaraRobeco Asset Management Company Limited
 DHFL Pramerica Asset Managers Private Limited
 DSP Investment Managers Private Limited
 Edelweiss Asset Management Limited
 Essel Finance AMC Limited
 Franklin Templeton Asset Management (India) Private Limited
 HDFC Asset Management Company Limited
 HSBC Asset Management (India) Private Ltd.
 ICICI Prudential Asset Management Company Limited
 IDBI Asset Management Ltd
 IDFC Asset Management Company Limited
 IIFCL Asset Management Co. Ltd.
 IIFL Asset Management Ltd.
 IL&FS Infra Asset Management Limited
 Indiabulls Asset Management Company Ltd.

 Invesco Asset Management (India) Private Limited

 ITI Asset Management Limited
 JM Financial Asset Management Limited
 Kotak Mahindra Asset Management Company Limited (KMAMCL)
 L&T Investment Management Limited
 LIC Mutual Fund Asset Management Limited
 Mahindra Asset Management Company Pvt. Ltd.
 Mirae Asset Global Investments (India) Pvt. Ltd.
 MotilalOswal Asset Management Company Limited
 PPFAS Asset Management Pvt. Ltd.
 Principal Asset Management Pvt. Ltd.
 Quant Money Managers Limited
 Quantum Asset Management Company Private Limited
 Reliance Nippon Life Asset Management Limited
 Sahara Asset Management Company Private Limited
 SBI Funds Management Private Limited
 Shriram Asset Management Co. Ltd.
 SREI Mutual Fund Asset Management Pvt. Ltd.
 Sundaram Asset Management Company Limited
 Tata Asset Management Limited
 Taurus Asset Management Company Limited
 Union Asset Management Company Private Limited
 UTI Asset Management Company Ltd.

Types of mutual fund

1. By structure
 Open ended scheme
 Close ended scheme
2. By investment objective
 Growth scheme
 Income scheme
 Balanced scheme
 Money market scheme
3. Other schemes
 Tax saving scheme
 Index scheme
 Balanced fund

Benefits of Mutual Fund:
1.
Professionally managed: Mutual Funds are professionally managed by fund managers, whose
every day job is to track the markets and manage investments. Fund managers identify the
winning stocks to buy, when to buy them, and more importantly, when to sell them. They spend
hours analysing the performance of companies, and if they fit the fund they manage.
2. Diversification: we were all heard the adage “Don’t put all your eggs in one basket.” This is
the premise of diversification across asset classes and stocks, to reduce your risk. With mutual
fund, you get the advantage of default diversification, as your fund manager invests across a
variety of stocks. Sudden changes in one stock are likely to be balanced out by the performance
of other stocks in the fund. It is an idle way to get a taste of the equity markets, but with lesser
risk.
3.Liquidity:

An investor who is hit with a financial emergency might have to sell out in a hurry. That
can be disastrous if the assets have taken a hit at the wrong moment. It tends to be less so
in mutual funds, which swing in value less wildly because of their diversification
4.Simplicity:
While investing, the availability of information and data is particularly time- consuming.
If all the information would be easily available, investing would be much simpler. In
mutual funds, the research and data collection is done by the funds themselves. All you
have to do is analyze the performance.
5. Cost:
Mutual funds are one of the best investment options considering the costs involved. If
you hire a portfolio management service, you will typically be charged 2% to 3% of the
total investment per year. They will also deduct a share for your profit

Disadvantages of mutual fund.
. Costs to manage the mutual fund:
The salary of the market analysts and fund manager basically comes from the investors. Total
fund management chare is one of the main 1parameters to consider when choosing a mutual
fund. Greater management fees do not guarantee better fund performance.
1. Lock- in periods:
Many mutual funds have long-term lock-in period, ranging from 5 to 8 years. Exiting such funds
before maturity can be an expensive affair. A certain portion of the fund is always kept in cash

to pay out an investor who wants to exit the fund. This portion in cash cannot earn interest for
investors.
2. Dilution:
While diversification averages your risk of loss, it can also dilute your profits. Hence, you
should not invest in more than 7-9 mutual funds at a time. With clear tax could solve this as we
have already done the homework for you by hand-picking the top- rated funds from the best
fund houses in the count
Methods for Risk and Return and Performance:

Mean:
The return on any investment measured over a given of time is simply the sum of its capital
appreciation and any income generated divided by the original amount of the investment which
is expressed as percentage. The term applied to this composite calculation is total return.
Standard Deviation:
The square root of the variance in a series. It shows how the data are spread out. A measure of
the dispersion of a set of data from its mean. The more spread apart the data is, the higher the
deviation.
The finance, standard deviation is applied to the annual rate of return of an investment to
measure the investment’s volatility (risk)
Volatile stocks would have a high standard deviation. In mutual funds the standard deviation
tells us how much the return on the funds is deviating from the expected normal returns.
Standard deviation can also calculate as the square root of the variance. To determine how well a
fund is maximizing the return received for its volatility, you can compare the funds to another
with a similar investment strategy and similar returns. The fund with the lower standard
deviation. Be more optimal because it is maximizing the return received for the amount of risk
acquired.

Variance:
Variance is the measurement of the spread between numbers in a debtor set. It measures how far
each number in the set is from the mean and is calculated by taking the differences between each
number in the set and the mean squaring the differences ( to make them Positive) And dividing
the sum of the square by the number of values in the set
Variance is one of the key parameters in asset allocation. Along with co-relation, the variance of
asset returns helps investor to develop optimal portfolios by optimizing the return volatility trade
of in the investment portfolios.
The square roots of variances the standard deviation.

RETURN ANALYSES OF MUTUAL FUNDS
The various methods for measuring mutual fund returns are as follows.
1. Percentage change in NAV

2. Simple total returns.
3. ROI or Total return with dividend reinvestment.
1) Percentage change in NAV
Percentage change in NAV is an absolute measure of return, which finds the NAV
appreciation between two points of time, as a percentage.

Calculation is as follows
(Absolute change in NAV/NAV at the beginning) *100
In case the period is not equal to one year then there will be change calculation.
Converting a return value for a period other than one year, into a value for 1 year is called
as annualisation. In order to annualize a rate, we find out what the return would be for a
year, if the return behaved for a year, in the same manner it did, for any other fractional
period.
(End period NAV/beginning period NAV)-1) *12/n*100
Pros and cons of the method:
This method is simple and very easy to calculate and understand. However,
examining return over a single period may not provide an indication of long-term returns.
An important limitation also is that this method is more useful for computing returns on
growth options of mutual fund schemes. It may not be suitable for computing returns on
schemes with dividend distributions or withdrawal plans.

Simple total returns
It is customary to represent return as percent per annum. This makes it easier to

compare the returns from various investment options, for a standard holding period. The
investment in a mutual fund can choose to keep his investment for a period of time, not
necessarily 1 year. Therefore, if the holding period is different from 1 year, we have to
normalize the computation shown above, as % p.a.
The total return method considers the dividends distributed by the mutual
fund, and adds it to the NAV appreciation, to arrive at returns.
(End period NAV- beginning period NAV) +dividend received) /beginning period
NAV) *100
This return is called the simple annualized return from investing in mutual fund.
Pros and cons of the method
The total return method considers the dividend distributions and is therefore
comparable across various kinds of mutual fund classes. The most important limitation of
this method is that it does not consider the re – investment of dividends received at the
intervening period.
Total return with dividend reinvestment
This method is also called the return of investment (ROI) method. In this method,
we assume that dividend is reinvested into the scheme as soon as they are received at
the then prevailing NAV (ex-dividend NAV)

Total returns with reinvestment are calculated as:
(Value of the holding at the end of the period/value of the holdings at the beginning
of the period)-1) * 100
Value of holding at the beginning of the period = number of units at the beginning *
beginning NAV.
Value of holding at the end of the period = number of units at the end * end NAV.
Number of units reinvested = dividends/ ex dividend NAV.
This methodology of computing returns is widely used by many mutual fund

tracking agencies.
SEBI regulations regarding reporting of returns by mutual funds
A return earned by a mutual fund scheme is a very important indicator used by

mutual funds in their publicity literature and advertisements. In order to ensure
uniformity and comparability across funds, SEBI has stipulated some norms for return
data that is published by mutual funds. These are.

1. Mutual funds can only use standard return computations such as annual dividend
on face value, annual yield on purchase price, and annual compounded rate of
return.
2. If the scheme has been in existence for over a year, compounded annual yield is
the accepted method of calculating return.
3. return calculations for funds with payouts should assume that dividend is
reinvested at the ex- dividend NAV
4. Return should be shown for the past 1,3 and 5 years of the scheme, or since
inception, whichever is lower.
5. For funds in existence for less than one-year, total returns should be shown, and
such returns should not be annualizing or compounded.
Significant components.
It is not just the different banks or AMCs that create or float different mutual
fund schemes; instead, there are other players that are involved in the structure of mutual
funds. The primary watchdog in all these transactions is the Securities Exchange Board of
India (‘SEBI’) under whom each entity is required to be registered with. The inception of
SEBI (Mutual Funds) Regulations, 1996, revolutionized the structure of mutual funds and
since then all the entities are regulated under it. Currently, mutual funds comprise of five
basic participants, namely a Sponsor, Mutual Fund Trustee, Asset Management
Company, Custodian & Registrar and a Transfer Agent.
The Hierarchy looks like this:

Sponsor
A sponsor is any person or entity that can set up a mutual fund scheme to generate
income through fund management. The sponsor can be said as the first layer of the three-
tier structure of mutual funds in India. The sponsor is required to approach SEBI and get
a mutual fund scheme approved. The sponsor cannot work alone. It needs to create a
Public Trust under the Indian Trust Act 1882 and get the same registered with SEBI.
Once the trust is created, the Trustee is registered with SEBI and is appointed as the
trustee of the fund in order to safeguard the interest of the unit holders and to adhere
the SEBI Mutual Fund regulations. The Sponsor subsequently creates an Asset
Management Company under the Companies Act, 1956 to deal with the fund
management. There are certain eligibility criteria to become a Sponsor, as prescribed
under:

a. The Sponsor must have profit in 3 of the last 5 years including immediately preceding
year.
b. The Sponsor must have a minimum of 5 years of experience in financial services.
c. The net worth of the Sponsor must be positive for all the preceding five years.
d. Out of the total net worth of the AMC, 40% must be participated by the Sponsor.
As seen above, the position of a Sponsor is crucial and they should have high credibility.
Strict norms show that the sponsor must have enough liquidity and faithfulness to return
the money of an innocent investor, in case of a financial meltdown.
Trust And Trustees

Trust and trustees make up the second layer of the structure of mutual funds. Trustees are
also known as the protectors of the fund and are employed by the fund sponsor. As the
name suggests, they have a very important role in maintaining the trust of the investors
and to oversee the growth of the fund. SEBI mandates the trustees to provide a report on
the fund and the functioning of the AMC on a half-yearly basis. Trustees can be created
either in the form of Board of Trustees or a Trust Company. The Trustees supervise the
entire functioning of the AMC and regulate the operations of the mutual fund schemes.
The SEBI has tightened the rule of transparency so as to avoid any conflict of interest
between the Sponsor and the AMC. Without the permission and approval of the Trust, an
AMC cannot float a new mutual fund scheme. It is important for the Trustees to act
independently and take appropriate measures to safeguard the hard-earned money of the
investors. The Trustees are also required to be registered under SEBI, and SEBI further
regulates their registration by either suspending or revoking the registration if found
breaching any conditions.

Asset Management Company

An AMC is the third working layer in the structure of mutual funds. An AMC floats
various schemes of mutual fund in the market, pursuant to the needs of the investors and
the nature of the market. They create mutual funds along with the trustee and the sponsor
and then oversee its development. While creating the scheme, they take help of bankers,
brokers, RTAs auditors etc. and enter into an agreement with them. An AMC is a
company formed under Companies Act and needs to be registered under SEBI. Similar to
the Trustees, an AMC also needs to ensure that there is no conflict of interest amongst
them, the sponsor and the trustees.
Other Participants in The Structure of Mutual Fund
Custodian
A Custodian is an entity, which is responsible for the safekeeping of the securities.

Custodians are registered with SEBI and are responsible for the transfer and delivery of
units and securities. Custodians also enable investors in updating their holdings at a
particular point of time and help them in keeping track of their investments. Along with
the primary job of safekeeping, custodians are also in charge of the collection of
corporate benefits such as bonus issue, interest, dividends etc.
Registrar And Transfer Agents

RTAs are an important link between fund managers and investors. They cater to the fund
managers by updating them with the investor details and to investors by delivering the
benefits of the fund to them. RTAs are SEBI registered entities who process the
applications of mutual funds, help with investor KYC, manage and deliver periodical
statements of investments, update records of investors and process investor requests.

Link-in time, Kary etc. are some of the famous RTAs in India and they provide the
requisite operational support to the AMC in mutual fund activities.
Other Participants
Some other participants in the structure of mutual funds are brokers, auditors, and
bankers. The brokers are responsible to attract investors and help to disseminate the fund.
The brokers help investors in sell, purchase of units and provide with their valuable
advice. Brokers also study the market trend and predict the future movement of the
market. Unlike brokers, auditors are an independent internal watchdog, who audit the
financials of the AMC, Trustee, and Sponsor and provide their report. Bankers are also an
important participant, who act as collecting agents on behalf of the fund managers.
These are the participants who play a key role in the management of mutual funds. Each
participant has their individual role to play. However, their functions are interlinked with
each other. Mutual fund regulations are the bible by which all the participants are bound
together, to perform their functions more diligently and without prejudice to the interest
of the investors.

Systematic Investment Plan
SystematicInvestmentPlan
A Systematic Investment Plan or SIP is a smart and hassle-free mode for investing money
in mutual funds. SIP allows you to invest a certain pre-determined amount at a regular
interval (weekly, monthly, quarterly, etc.). A SIP is a planned approach towards
investments and helps you inculcate the habit of saving and building wealth for the
future.
Howdoesitwork
A SIP is a flexible and easy investment plan? Your money is auto-debited from your
bank account and invested into a specific mutual fund scheme. You are allocated certain
number of units based on the ongoing market rate (called NAV or net asset value) for the
day.
Every time you invest money, additional units of the scheme are purchased at the market
rate and added to your account. Hence, units are bought at different rates and investors
benefit from Rupee-Cost Averaging and the Power of Compounding.

Rupee-CostAveraging
With volatile markets, most investors remain skeptical about the best time to invest and
try to ‘time’ their entry into the market. Rupee-cost averaging allows you to opt out of the
guessing game. Since you are a regular investor, your money fetches more units when the
price is low and lesser when the price is high.
PowerofCompounding
Albert Einstein once said, “Compound interest is the eighth wonder of the world. He who
understands it, earns it... he who doesn't... pays it.” The rule for compounding is simple -
the sooner you start investing, the more time your money has to grow.
Some more related terms
Beta:
A beta less than 1.0 indicates that the investment will be less volatile than the market.
Correspondingly, a beta of more than 1.0 indicates that the investments price will be
more volatile than the market.
Sharpe Ratio:
The Sharpe Ratio is calculated by taking the return of the portfolio and subtracting the
risk- free return, then dividing the result(the excess return) by standard deviation of the
portfolio return .Basically ,it is measuring excess return (over risk-free rate) per unit of
risk.
Annual Return:
The percentage of change in net asset value over a year's time, assuming
reinvestment of distribution such as dividend payment and bonuses.

Annualized Return:
This is the hypothetical rate of return, if the fund achieved it over a year's time,
would produce the same cumulative total return if the fund performed consistently over
the entire period. A total return is expressed in a percentage and tells you how much
money you have earned or lost on an investment over time, assuming that all dividends
and capital gains are reinvested.
Benchmark:
A parameter against which a scheme can be compared. For example, the
performance of a scheme can be benchmarked against an appropriate in
Capital Appreciation:
As the value of the securities in a portfolio increases, a fund's Net Asset Value
(NAV) increases, meaning that the value of your investment rises. If you sell units at a
higher price than you paid for them, you make a profit, or capital gain. If you sell units at
a lower price than you paid for them, you'll have a capital loss.
Compounding:
When you deposit money in a bank, it earns interest. When that interest also
begins to earn interest, the result is compound interest. Compounding occurs if bond
income or dividends from stocks or mutual funds are reinvested. Because of
compounding, money has the potential to grow much faster.
Entry Load:
Load on purchases/ switch-out of units

Equity Schemes:
Schemes where more than 50% of the investments are made in the equity shares
of various companies. The objective is to provide capital appreciation over a period of
time.
Exit Load:
Load that is charged on redemptions i.e. during the exit of the fund.
Fund Category:
It is a type of scheme which the mutual fund company invests its corpus in a
particular category. It could be a growth, debt, balanced, gilt or liquid scheme
Fund Family:
It is the AMC which manages the various types of funds.

Fund Management Costs:
It is the charge levied by an AMC on the investors for managing their funds.
Fund Manager:
The person who makes all the final decisions regarding investments of a scheme,
i.e. the person who makes all the investment decisions.
Investment Objective:
The identification of attributes associated with an investment or investment
strategy, designed to isolate and compare risks, define acceptable levels of risk, and
match investments with personal goals.

Load:
A charge that is levied as a percentage of NAV at the time of entry into the
Scheme/Plans or at the time of exiting from the Scheme/Plans.
No-Load Scheme:
A Scheme where there is no initial Entry or Exit Load.
Mutual Funds:
An investment company/trust that pools money from unitholders and invests that
money into a variety of securities, including stocks, bonds, and money-market
instruments in line with the fund’s objective
Net Worth:
A person's net worth is equal to the total value of all possessions, such as a house,
stocks, bonds, and other securities, minus all outstanding debts, such as mortgage and
revolving credit lines.
Net Yield:
Rate of return on a security net of out-of-pocket costs associated with its
purchase, such as commissions or markups.
Offer Document or Prospectus:

The official document issued by mutual funds prior to the launch of a fund
describing the characteristics of the proposed fund to all its prospective investors. It
contains all the information required as per the Securities and Exchange Board of India,
such as investment objective and policies, services, and fees. Individual investors are
encouraged to read and understand the fund's prospectus.

Risk Adjusted Returns%:

Generally, the expected returns from an investment are dependent on the risk
involved in the investment. For the purpose of comparing returns from investments
involving varying levels of risk, the returns are adjusted for the level of risk before
comparison. Such returns (reduced for the level of risk involved) are called risk-adjusted
returns.
Sale Price:
The price at which a fund offers to sell one unit of its scheme to investors. This
NAV is grossed up with the entry load applicable, if any.
Sales Charge:
Fee on the purchase of new shares of a mutual fund. A sales charge is similar to
paying a premium for a security in that the customer must pay a higher offering price.
Sometimes, it is called a load.
Scheme:
It is a fund or plan where the money contributed by the unit holders are maintained and
managed and the profit/loss from the scheme accrue only to the unit holders.
Total Return%:
Return on an investment, taking into account capital appreciation, dividends or
interest, and individual tax considerations adjusted for present value and expressed on an
annual basis.
Unit:

Unit
representi
ng a share
in the
assets of
the
correspon
ding plan
of the
Scheme

Unit Holder:
A person who holds Unit(s) under any plan of the Scheme.
Valuation:
Calculating the market value of the assets of a mutual fund scheme at any point of
time.
Volatility:
In investing, volatility refers to the ups and downs of the price of an investment.
Greater the ups and downs, more volatile the investment is.
Volatility Measures:
Volatility measures the variability of historical returns. Relative Volatility, Beta,
and R2 compare a portfolio's total return to those of a relevant market, represented by the
benchmark index. Standard Deviation is calculated independent of an index.

RESERCH
METHODOLOGY

REASERCH METHODOLOGY
METHODOLOGY ADOPTED:
Data collection:
Data collection methods: Data has been collected both through secondary sources.
1) Secondary data: data which has been already collected and analyzed by
enumerators. Secondary data is also called as second hand data.
Secondary data has been collected through the internet.

Websites
magazines
journals
books

CHAPTER 4
DATA ANALSIS AND INTERPRETATION

MEAN
ADITYA BIRLA SUNLIFE EQUITY FUND
Annual Return: Ending value -Beginning value *100

Beginning value
YEAR FUND RETURN X

2016 477.46
2017 551.98 15.60
2018 727.63 31.82
2019 703.42 -3.327
2020 769.41 9.381
TOTAL: 53.504
MEAN 13.37
INTERPRETATION
The above records shows that the mutual fund data which is yearly increasing and also in this
pandemic days nothing has changed much
According to data of mutual fund 2020 year also giving better response

VARIANCE
ADITYA BIRLA SUNLIFE EQUITY
σ 2 = ∑ (Xi – X)2/N
YEAR X X-MEAN X2
2017 15.60 1.83 3.3489
2018 31.82 18.06 326.1636
2019 -3.327 17.087 291.9655
2020 9.381 4.388 19.2545
TOTAL 640.7325
VARIANCE 160.1831
MEAN 13.76

ADITYA BIRLA SUNLIFE EQUITY FUND
σ =√ ∑ (X-X)2
n-1
YEAR X X-MEAN X2
2017 15.60 1.83 3.3489
2018 31.82 18.06 326.1636
2019 -3.327 17.087 291.9655
2020 9.381 4.388 19.2545
TOTAL 640.7325
VARIANCE 160.1831
MEAN 13.76
SD 12.65

Year Aditya Birla Sun Life equity fund

-Risk Return
2017-2020 12.65 13.76
2017-2020
14
13.8
13.6
13.4
13.2 2017-2020
13
12.8
12.6
12.4
12.2
12
INTERPRETATION
Above calculation shows the return is 13.76 and risk is 12.65 of Adity Birla sun life equity fund
so it shows that is giving more return and giving less risk so we can say performance is good
also

MEAN
SBI FOCUSED EQUITY FUND
Annual Return: Ending Value-Beginning value * 100

Beginning value
YEAR FUND RETURN X

2016 93.97
2017 95.50 1.628
2018 137.56 44.04
2019 132.67 -3.554
2020 158.22 19.25
TOTAL 61.364
MEAN 15.34
INTERPRETATION
The above records shows that the mutual fund data which is yearly increasing and also in this
pandemic days nothing has changed much
According to data of mutual fund 2020 year also giving better response

SBI FOCUSED EQUITY FUND

VARIANCE
σ 2 = ∑ (Xi -X)2/N
YEAR X X-MEAN (X-MEAN)2

2017 1.628 13.712 188.0189
2018 44.04 28.7 823.69
2019 -3.554 18.894 356.98
2020 19.25 3.91 15.2881
TOTAL 1383.977
VARIANCE 345.99425
MEAN 15.34
STANDARD YEAR X X-MEAN (X-MEAN)2
DEVIATION 2017 1.628 13.712 188.0189
SBI FOCUSED 2018 44.04 28.7 823.69
EQUITY FUND 2019 -3.554 18.894 356.98

2020 19.25 3.91 15.2881
TOTAL 1383.977
σ =√ ∑ (X –
VARIANCE 345.99425
MEAN 15.34
SD 18.60
X )2
n -1

YEAR SBI FOCUS ED EQUITY FUND
Risk Return
2017- 2020 18.60 15.34
2017-2020
20
18
16
14
12 2017-2020
10
8
6
4
2
0
INTERPRETATION
Above calculation shows the return is 15.34 and risk is 18.60 of SBI focused equity fund so it
shows that is giving more risk and giving less return so we can say performance is not good
also

Comparative analysis
Year Funds Return Risk

2017-2020 Aditya Birla SunLife equity 13.76 12.65
Fund
2017-2020 SBI focused equity fund 15.34 18.60
20
18
16
14
12
Return
10
Risk
8
6
4
2
0
INTERPRETATION
As per the above table shows the risk and return of Aditya Birla SunLife equity fund
standard deviation is 12.65 and SBI focused equity fund risk is 18.60 that means sbi
equity fund has more risk than Adity birla sin life equity fund. So investor can invest in
Adity birla sunlife equity fund which is having less risk

CHAPTER 5
FINDINGS, SUGGESTIONS AND CONCLUSION

Findings

FINDINGS
 Here between the chosen schemes ADITYA BIRLA SUN LIFE Equity fund is
having less return value is (13.76) as compared to SBI FOCUSED EQUITY
FUND value is (15.34). So, it is to say that SBI FOCUSED Equity fund is on an
average.
 Variance of ADITYA BIRLA SUN LIFE Equity fund is less than SBI focused
equity fund . As the ADITYA BIRLA SUN LIFE Equity fund fluctuation is less
compared to SBI HYBRID EQUITY FUND which has more fluctuations.
 It reveals that ADITYA BIRLA SUN LIFE Equity fund standard deviation (risk)
is less (12.65) compared to SBI focused Risk is (18.60) .
 So it should be noted that ADITYA BIRLA SUN LIFE Equity fund having less
risk and less return as compared to SBI focused EQUITY FUND which is
having high risk and less return
 From the analysis it is found that Aditya Birla SunLife equity fund has performed
better in terms of risk return relationship.

Suggestions

SUGGESTIONS
 Creating awareness about mutual fund and its benefits for fulfilling the dreams of people
with the help of strong market team.
 It is advised to investors that investing in Aditya Birla SunLife equity fund is

beneficial as it has performed better than SBI focused equity fund
 Here I also suggest the company to make some awareness campaign because most of
the people who are interested to earn through investment in companies are not aware
about the concept of mutual fund.

CONCLUSION

CONCLUSION
In the conclusion part I have compared the two schemes with each other and suggested
that which schemes is having less risk and high return compare to other scheme.
From the project report we can conclude that ADITYA BIRLA SUN LIFE Equity
Fund is having less risk with less. returns and also SBI focused equity Fund is having
high risk and less return compare to ADITYA BIRLA SUN LIFE Equity Fund.
From the overall study we can conclude that ADITYA BIRLA SUN LIFE Equity
Fund is safe investment for the investors who are looking for long term investment.

BIBLIOGRAPHY

Bibliography
Web sites:-
www.amfiindia.com
www.google.com
www.mutualfundsindia.com
www.bseindia.com
www.nseindia.com
www.ask.com
www.icicipru.com
www.hdfcfund.com
www.fundsindia.com
Newspapers: -
Business lines
Business standard
Mutual Fund Insight
BOOKS
Mutual Funds in India. By- Joydeep Sen.

Investment Analysis and Portfolio Management. By Prasanna Chandra.
Journal
Financial markets and portfolio management .


Lxami Koujageri

Uploaded by

Copyright:

Available Formats

You might also like

Lxami Koujageri

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Lxami Koujageri

Uploaded by

Copyright:

Available Formats

“A STUDY ON COMPARATIVE ANASYSIS OF ADITYA BIRLA SUNLIFE EQUITY FUND AND SBI FOCUSED EQUITY FUND”.

“A STUDY ON COMPARATIVE ANALYSIS OF ADITYA BIRLA

MASTER OF BUSINESS ADMINISTRATION

INSTITUTE OF EXCELLENCE IN MANAGEMENT

Institute of Excellence in Management Science, Hubli.

Name: Laxmi Koujageri

Reg. No.: 19MBA318

Institute of Excellence in Management Science, Hubli.

I hereby declare that the project report Titled “A STUDY ON COMPARATIVE

Date: 25/08/2021 Name: LAXMI KOUJAGERI

Place: HUBBLI Registration No: 19MBA318

Institute of Excellence in Management Science, Hubli.

Topic chosen for the study

Need for the study

Objective of the study

Scope of the study

Limitations of the study

Vision and mission

Future growth and prospects

3 THEORETICAL BACKGROUND OF THE STUDY

Institute of Excellence in Management Science, Hubli.

4 DATA ANALYSIS AND INTERPRETATION

5 SUMMARY OF FINDINGS , CONCLUSION

Institute of Excellence in Management Science, Hubli.

Institute of Excellence in Management Science, Hubli.

Institute of Excellence in Management Science, Hubli.

Introduction of the study

Institute of Excellence in Management Science, Hubli.

CHOSEN FOR THE STUDY

These studies would reveal which fund is providing better returns

Institute of Excellence in Management Science, Hubli.

Need of the study:

Objectives of the study

 To study about mutual fund concept

 To study the selected mutual fund schemes

 To know the risk and return of selected mutual fund scheme

Scope of the Study:

Institute of Excellence in Management Science, Hubli.

Secondary data has been collected through the internet

Institute of Excellence in Management Science, Hubli.

DrSurender Kumar Gupta and Dr.SandeepBansal (Jul 2012),have done a Comparative

Institute of Excellence in Management Science, Hubli.

Institute of Excellence in Management Science, Hubli.

Limitation of the Study:

The following are the limitation of the study.

Lack of time The study is based on secondary data

It takes only two schemes into consideration

Time is the constraint. The study is limited to 60 days

Institute of Excellence in Management Science, Hubli.

Institute of Excellence in Management Science, Hubli.

ADITYA BIRLA SUN LIFE.

Institute of Excellence in Management Science, Hubli.

The Aditya Birla Group

Sun Life Financial

Institute of Excellence in Management Science, Hubli.

Products of Birla sun life mutual fund

Institute of Excellence in Management Science, Hubli.

(End period NAV/beginning period NAV)-1) 12/n100