A

PROJECT REPORT
ON
"DETAILED STUDY ON HYBRID
AGGRESSIVE MUTUAL FUND”

SUBMITED TO

IMPERIAL SCHOOL OF
BANKING AND
MANAGEMENT STUDIES

BY
MR. ANIKET M. SURADKAR
(APBF/2022/35)

MBA

(BANKING AND FINANCE)

(2022-2024)
 ACKNOWLEDGMENT

This project has contributed significantly to my growth and learning in my journey as a

student so far. The value this project added to my knowledge is immense. The successful
completion of this project involves the generous guidance and support of so many people.

I would like to extend my earnest and sincere thanks to Prof. Nema Buch Ma’am for
guiding me through this project, Our director Mr. D Surya Prakash sir for giving me the
opportunity of having such a great learning experience through this project.

I want to thank all my faculty members and mentors of Imperial School of Banking and
Management Studies to be a constant support.

Thank You .

DATE: 11-1-2023 NAME: Aniket M. Suradkar

PLACE: Pune, Maharashtra.
 DECLARATION

I do hereby declare that this project work entitled “DETAILED STUDY ON HYBRID
AGGRESSIVE MUTUAL FUND” submitted by me to Imperial School of Banking and
Management Studies is a record of my own research work. The report embodies the
finding based on my study and observation and has not been submitted earlier for the
award of any degree or diploma to any Institute or University

DATE: 11-1-2023 NAME: Aniket M. Suradkar

PLACE: Pune, Maharashtra.
 INDEX
ABSTRACT 1
CHAPTER 1 INTRODUCTION 2
CHAPTER 2 OBJECTIVE 4
CHAPTER 3 TYPES OF MUTUAL FUND 5
3.1 Scheme classified by organization structure
3.2 Growth funds
3.3 Income funds

CHAPTER 4 Terms related to Mutual Fund

4.1 Asset management company
4.2Asset under management
4.3 NAV
CHAPTER 5 Quant Absolute Fund - Direct Plan – Growth 8
5.1 Categorization of Mutual fund
5.2 Aggressive Mutual Fund
5.3 What Is a Trustee?
5.4 What Is a Mutual Fund Custodian?
5.5 Investment Objective
5.6 Asset Allocation
5.7 Investment strategies
5.8 Time Horizon
5.9 Returns
5.10 Performance Against Benchmark
5.11 Average NAV
5.12 Risk Associated with Scheme
5.13 Ratios need to mitigate risk
5.14 Scheme expenses

5.15 Comparison of Scheme with other

Scheme (SAME CATEGORY)
5.15 Taxation
 5.16 Portfolio
CHAPTER 6 CONCLUSION 24

BIBILIOGRAPHY 25
 1

Abstract

A mutual fund is a professionally-managed investment scheme, usually run by an asset

management company that brings together a group of people and invests their money in
stocks, bonds and other securities. As an investor, you can buy mutual fund 'units', which
basically represent your share of holdings in a particular scheme. These units can be
purchased or redeemed as needed at the fund's current net asset value (NAV).

These NAVs keep fluctuating, according to the fund's holdings. So, each investor
participates proportionally in the gain or losses of the fund. The mutual funds are
registered with SEBI. They function within the provisions of strict regulation created to
protect the interests of the investor. The biggest advantage of investing through a mutual
fund is that it gives small investors access to professionally-managed, diversified
portfolios of equities, bonds and other securities, which would be quite difficult to create
with a small amount of capital.

Keywords : SEBI (Securities and exchange board of India), NAV (net asset value), AMC(Asset
Management Company) ,Stocks, Portfolio.

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CHAPTER 1

INTRODUCTION

A mutual fund is a collective investment vehicle that collects & pools money from a
number of investors and invests the same in equities, bonds, government securities,
money market instruments. The money collected in mutual fund scheme is invested by
professional fund managers in stocks and bonds etc. in line with a scheme’s investment
objective. The income / gains generated from this collective investment scheme are
distributed proportionately amongst the investors, after deducting applicable expenses
and levies, by calculating a scheme’s “Net Asset Value” or NAV. In return, mutual fund
charges a small fee. In short, mutual fund is a collective pool of money contributed by
several investors and managed by a professional Fund Manager.

Mutual Funds in India are established in the form of a Trust under Indian Trust
Act, 1882, in accordance with SEBI (Mutual Funds) Regulations, 1996. The fees and
expenses charged by the mutual funds to manage a scheme are regulated and are subject
to the limits specified by SEBI. One should avoid the temptation to review the fund's
performance each time the market falls or jumps up significantly. For an actively-
managed equity scheme, one must have patience and allow reasonable time - between 18
and 24 months - for the fund to generate returns in the portfolio. When you invest in a
mutual fund, you are pooling your money with many other investors. Mutual fund issues
“Units” against the amount invested at the prevailing NAV. Returns from a mutual fund
may include income distributions to investors out of dividends, interest, capital gains or
other income earned by the mutual fund. You can also have capital gains (or losses) if you
sell the mutual fund units for more (or less) than the amount you invested.

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Mutual fund is ideal for those investor who –

1. Lack the knowledge or skill / experience of investing in stock markets directly.

2. Want to grow their wealth, but do not have the inclination or time to research the stock
market.
3. Wish to invest only small amounts.

Why everyone should invest in mutual fund?

As investment goals vary from person to person – post-retirement expenses, money for
children’s education or marriage, house purchase, etc. – the investment products required
to achieve these goals too vary. Mutual funds provide certain distinct advantages over
investing in individual securities. Mutual funds offer multiple choices for investment
across equity shares, corporate bonds, government securities, and money market
instruments, providing an excellent avenue for retail investors to participate and benefit
from the uptrends in capital markets. The main advantages are that you can invest in a
variety of securities for a relatively low cost and leave the investment decisions to a
professional manager.

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CHAPTER 2

OBJECTIVE

1. To do detailed study on Open ended, hybrid – Aggressive mutual fund.

2. To analyze the performance of scheme with respect to its bench mark.
3. To analyze various parameters situated with mutual fund like Risk, Returns,
Performance ,Portfolio, Frequency.
4. Recommending the best aggressive mutual fund scheme to investors.

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CHAPTER 3

Types of Mutual Fund Scheme

3.1 Scheme classified by organization structure

• Open-ended schemes are perpetual, and open for subscription and repurchase on a
continuous basis on all business days at the current NAV.

• Close-ended schemes have a fixed maturity date. The units are issued at the time of the
initial offer and redeemed only on maturity. The units of close-ended schemes are
mandatorily listed to provide exit route before maturity and can be sold/traded on the
stock exchanges.

• Interval schemes allow purchase and redemption during specified transaction periods
(intervals). The transaction period has to be for a minimum of 2 days and there should be
at least a 15-day gap between two transaction periods. The units of interval schemes are
also mandatorily listed on the stock exchanges.

3.2 Growth funds

 Growth Funds are schemes that are designed to provide capital appreciation.
 Primarily invest in growth oriented assets, such as equity
 Investment in growth-oriented funds require a medium to long-term investment
horizon.
 Historically, Equity as an asset class has outperformed most other kind of
investments held over the long term. However, returns from Growth funds tend to
be volatile over the short-term since the prices of the underlying equity shares may
change.
 Hence investors must be able to take volatility in the returns in the short-term.

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3.3 Income funds

 The objective of Income Funds is to provide regular and steady income to

investors.
 Income funds invest in fixed income securities such as Corporate Bonds,
Debentures and Government securities.
 The fund’s return is from the interest income earned on these investments as well
as capital gains from any change in the value of the securities.
 The fund will distribute the income provided the portfolio generates the required
returns. There is no guarantee of income.
 The returns will depend upon the tenor and credit quality of the securities held.

3.3 Liquid / Overnight /Money Market Mutual Funds

 Liquid Schemes, Overnight Funds and Money market mutual fund are investment
options for investors seeking liquidity and principal protection, with
commensurate returns. The funds invest in money market instruments* with
maturities not exceeding 91days. The return from the funds will depend upon the
short-term interest rate prevalent in the market.
 These are ideal for investors who wish to park their surplus funds for short
periods. Investors who use these funds for longer holding periods may be
sacrificing better returns possible from products suitable for a longer holding
period.

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CHAPTER 4

Terms related to Mutual Fund

4.1 Asset management company

 An asset management company (AMC) invests pooled funds from clients

into a variety of securities and assets.
 AMCs vary in terms of their size and operations, from personal money
managers that handle high-net-worth (HNW) individual accounts and have
a few hundred million dollars in AUM, to giant investment companies that
offer ETFs and mutual funds and have trillions in AUM.
 AMC managers are compensated via fees, usually a percentage of a client's assets
under management.

4.2 Asset Under Management (Aum)

Assets under management (AUM) is the total market value of the investments that
a person or entity manages on behalf of clients. Assets under management
definitions and formulas vary by company.

4.3 NAV

Net Asset Value is the net value of an investment fund's assets less its liabilities,
divided by the number of shares outstanding. Most commonly used in the context
of a mutual fund or an exchange-traded fund (ETF), NAV is the price at which the
shares of the funds registered with the U.S. Securities and Exchange Commission
(SEC) are traded.

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CHAPTER 5

Quant Absolute Fund - Direct Plan – Growth

5.1 Categorization of Mutual fund

Sr.No. Equity Debt Hybrid

1. Equity – ETF/Index Low duration Fund Aggressive mutual
fund
2. Multi Cap fund Long Duration Fund Equity saving
3. Large cap fund Corporate Bond Fund Conservative
Hybrid Fund
4. Large and mid-cap fund Fixed Maturity Plan-Debt Dynamic Asset
allocation or
balanced
advantage
5. Mid Cap fund Short Duration Fund Arbitrage fund
6. Small cap fund Dynamic Bond Fund Multi asset
allocation
7. ELSS Credit risk Fund Capital Protection
Fund
8. Dividend yield fund Interval plan
9. Sectorial / Thematic Medium Duration fund
10. Contra fund Gilt Fund
11. Focused Fund Floater Fund
12. Value Fund Ultra Short Duration Fund
13 Flexi cap fund Medium To Long Duration
Fund
14. Liquid fund

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5.2 Aggressive Mutual Fund

An aggressive growth fund is a mutual fund that seeks capital gains by investing in the
shares of growth company stocks. Investments held in these funds are companies that
demonstrate high growth potential, but also carry greater risk. As such, aggressive growth
funds seek to provide above-average market returns; however, their underlying
investments are often volatile causing high share price volatility.

 An aggressive growth fund invests in companies that have high growth potential,
including newer companies and those in hot sectors of the economy.
 As a result, these funds are actively managed to achieve above-average returns
when markets are rising.
 These stocks, however, are also quite a bit riskier than other stocks and so these
funds may underperform in down markets and experience greater volatility
overall.

Aggressive growth funds are identified in the market as offering above average returns
for investors willing to take some additional investment risk. They are expected to
outperform standard growth funds by investing more heavily in companies they identify
with aggressive growth prospects. Aggressive growth funds invest in growth stocks with
relatively more aggressive projections for revenue and earnings than the standard growth
stock universe. Because aggressive growth stock funds are investing based on forward-
looking assumptions and multiple growth phases, they can have higher comparable risk.
These funds typically do not fall into a standard category grouping reported by mutual
fund research providers. They will typically be found in the growth fund category with
fund names such as aggressive growth fund, capital appreciation fund, or capital gain
fund. Their main focus is to invest for superior capital gains.

Since these funds typically are associated with high risk and high return it is important
for investors to closely examine risk metrics of the funds. Beta, Sharpe Ratio, and standard
deviation are three risk metrics that are often reported by a fund company to help

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investors understand the fund’s risks. Comparing the risk metrics to a benchmark is
typically best when seeking to understand fund risks.

Who should invest in Aggressive mutual fund ?

Aggressive funds endeavor to generate regular income along with long-term wealth generation
by using a hybrid portfolio. Many investors consider aggressive funds to be riskier than the
standard balanced hybrid funds. In these funds, the fund manager primarily invests in equity
and equity-related instruments while allocating a smaller portion to debt for stability. Therefore,
investors with moderate risk tolerance and an investment horizon of at least 5 years can consider
Aggressive Funds.

It is also important to note that the risks associated with an aggressive fund also depends on the
selection of small/mid-cap stocks. Hence, it is important to analyze the portfolio of the scheme
carefully before investing.

AMC Details

Name of Mutual Fund: Quant Fund

Name of AMC: Quant Money Managers Limited
Name of trustee
company: Quant Capital Trustee Limited
Name of sponsor: Quant Capital Finance and Investments Private Limited
Name of custodian: HDFC Bank Ltd.
Name of R&T: Karvy Fintech Pvt Ltd. Unit: quant Money Managers Ltd.
Name of Fund Manager: Anikt Pande , Vasav Sahgal , Sanjeev
Sharma

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5.3 What Is a Trustee?

A trustee is a person or firm that holds and administers property or assets for the benefit
of a third party. A trustee may be appointed for various purposes, such as in the case of
bankruptcy, certain types of retirement plans or pensions, or to manage assets for
someone.

Trustees are required to make decisions in the beneficiary's best interests and have a
fiduciary responsibility to them, meaning they act in the best interests of the beneficiaries
to manage their assets.

 A trustee is a person or firm that holds and administers property or assets for the benefit
of a third party.
 A trustee may be appointed for various purposes, such as in the case of bankruptcy, for a
charity, or for a trust fund.
 A trustee's has a fiduciary responsibility to the trust beneficiaries and must make
decisions in their best interests.

5.4 What Is a Mutual Fund Custodian?

A mutual fund custodian is a trust company, bank, or similar financial institution that is
responsible for holding and safeguarding the securities owned within a mutual fund.

A mutual fund's custodian holds assets for safekeeping and can also provide a range of
services including fund administration, fund accounting, legal, compliance, tax support,
and transfer agency services.

 Mutual fund custodians are responsible for securing and managing the securities
held within a mutual fund.
 While a fund's portfolio manager makes trading decisions, the securities owned by
the fund are held with the custodian and not directly with the fund itself. This is
done to reduce the risk of fraud.

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 In addition to holding securities and record-keeping, a custodian also typically

offers trade settlements, foreign exchange transactions, and tax services for its
clients.

5.5 Investment Objective

The investment objective of the scheme is to generate income/capital appreciation

by investing primarily in equity and equity related instruments with a moderate exposure
to debt securities & money market instruments. There is no assurance that the investment
objective of the Scheme will be realized. According to the investment objective this
scheme is investing in 79.21% in domestic equities of which 67.48% is in Large Cap
stocks, 5.95% is in Mid Cap stocks. The fund has 14.99% investment in Debt, of which
7.73% in Government securities, 7.26% is in Low Risk securities.

5.6 Asset Allocation

Normal Allocation (% of net assets

Asset Allocation Risk Profile
Minimum Maximum
Equity and equity related
instruments 65 80 High
Debt and money market Low to
instruments 20 35 Medium
Medium to
Units issues by REIT/InvITS 0 10 High

The above investment pattern given in above table may change according to market
conditions. The proportion of the investments done in each type of securities is in
accordance with micro and macroeconomics condition, interest rates, and othe
consideration that we will discuss in risk factors discussions

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5.7 Investment strategies

Investment strategies Concentration

Equity And Equity instruments MAJOR
Debt and Money market MODERATE

Asset NET
NET
Allocation %

13.07,0,13%
0%
stock 79.21 7.72, 8%

bonds 7.72 79.21, 79%

cash 13.07
Other 0 stock bonds cash other

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5.8 Time Horizon

The fund manager primarily invests in equity and equity-related instruments while
allocating a smaller portion to debt for stability. Therefore, investors with moderate risk
tolerance and an investment horizon of at least 5 years can consider Aggressive Funds.

5.9 Returns

Trailing Returns and Ranks

Period Trailing Category Rank within
Returns Average Category
1 Month -2.39% -1.59% 28 / 30
3 Month 3.97% 2.77% 10/30
6 Month 14.87% 9.57% 1/30
1 Year 12.34% 1.60% 1/30
3 Year 31.34% 14.64% 1/29
5 Year 19.05% 10.74% 1/22
10 Year 17.95% 13.71% 1/16

Trailing returns are a way to calculate the value of investments over a period of time.
In its place of computing the return on investment at the point when it is redeemed,
trailing returns take into interpretation how much it has risen or collapsed since then.

In simple words, trailing returns meaning is about calculating point-to-point returns

and then annualizing them and hence are also called point-to-point returns. This
measure provides a more clear picture equated to absolute returns as a mutual fund
might have performed outstandingly well over a 5-year period, but may have sedated
growth in the last 2-3 years.

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The category average is a median (or the middle-most number) in a series of data.
The idea is to show how your scheme has performed as against other schemes. It is natural
to make this comparison because when you invest in MFs, it's always a choice of one
scheme over others. We will discuss this comparison in upcoming chapter with the help
of table.

Category rank is your rank in a specific or particular category. Suppose, you have
scored 100 marks out of 120 marks and your overall rank is 20 out of 120 total students
it may not be the same in your category. As we can observe is above table that since last
10 years the fund has secured rank 1 among 16 fund and till last 6 months it has secured
rank 1 among 30 funds. But due to market volatility the fund has come down in the ranks

5.10 Performance Against Benchmark

Benchmark vs. returns (6 months)

Benchmark Returns
10.47% 15.47%

Benchmark comparison with fund

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5.11 Average NAV

Months AVG.NAV
JUL 286.8048
AUG 306.6443
SEP 322.1949
OCT 317.173
NOV 327.4755
DEC 331.4402
JAN 326.7863

AVG.NAV
400
331.4401591
350 317.1729833327.4755
322.1948864
306.644295
326.7862857
286.8048095
300
250
200
150
100
50
0
JUL AUG SEP OCT NOV DEC JAN
AVG.NAV 286.80481306.644295
322.194886
317.172983327.4755331.440159
326.786286

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5.12 Risk Associated with Scheme

Standard Risk Factors:

 Investment in mutual fund units involves investment risks such as trading volumes,
settlement risk, liquidity risk, default risk including the possible loss of principal.

 As the price / value / interest rates of the securities in which the Scheme invests
fluctuate, the value of your investment in the Scheme may go up or down.

 Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future

performance of the Scheme.

 quant Absolute Fund is the name of the Scheme and does not in any manner indicate
either the quality of the Scheme or its future prospects and returns.

 The sponsor is not responsible or liable for any loss resulting from the operation of the
Scheme beyond the initial contribution of Rs. 1 lakh made by it towards setting up the
Fund.

 quant Absolute Fund is not a guaranteed or assured return scheme.

Risks associated with investments in Equity and Equity related instruments

Equity and equity related instruments are volatile and prone to price fluctuations on a
daily basis. The liquidity of investments made in the Scheme may be restricted by trading
volumes and settlement periods. Settlement periods may be extended significantly by
unforeseen circumstances. The inability of the Scheme to make intended securities

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purchases, due to settlement problems, could cause the Scheme to miss certain
investment opportunities. Similarly, the inability to sell securities held in the Scheme
portfolio would result at times, in potential losses to the Scheme, should there be a
subsequent decline in the value of securities held in the Scheme portfolio. Also, the value
of the Scheme investments may be affected by interest rates, currency exchange rates, and
changes in law/ policies of the government, taxation laws and political, economic or other
developments which may have an adverse bearing on individual securities, a specific
sector or all sectors.

Risks associated with investments in Fixed Income Securities

Interest-Rate Risk: Fixed income securities such as government bonds, corporate bonds,
money market instruments and derivatives run price-risk or interest-rate risk. Generally,
when interest rates rise, prices of existing fixed income securities fall and when interest
rates drop, such prices increase. The extent of fall or rise in the prices depends upon the
coupon and maturity of the security. It also depends upon the yield level at which the
security is being traded.

Re-investment Risk: Investments in fixed income securities carry re-investment risk as

interest rates prevailing on the coupon payment or maturity dates may differ from the
original coupon of the bond.

Basis Risk: The underlying benchmark of a floating rate security or a swap might become
less active or may cease to exist and thus may not be able to capture the exact interest
rate movements, leading to loss of value of the portfolio.

Spread Risk: In a floating rate security the coupon is expressed in terms of a spread or
mark up over the benchmark rate. In the life of the security this spread may move
adversely leading to loss in value of the portfolio. The yield of the underlying benchmark
might not change, but the spread of the security over the underlying benchmark might
increase leading to loss in value of the security.

Liquidity Risk: The liquidity of a bond may change, depending on market conditions
leading to changes in the liquidity premium attached to the price of the bond. At the time

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of selling the security, the security can become illiquid, leading to loss in value of the
portfolio.

5.13 Ratios need to mitigate risk

NAME of RATIO VALUE CATEGORY AVG

Standard deviation 17.23 13.73
BETA 1.31 1.28
Sharp ratio 1.26 0.41
Treynor's Ratio 0.17 0.09
Jonson’s Alpha 14.14 1.06

Standard Deviation value gives an idea about how volatile fund returns has been in the
past 3 years. Lower value indicates more predictable performance. So if you are
comparing 2 funds (lets say Fund A and Fund B) in the same category. If Fund A and Fund
B has given 9% returns in last 3 years, but Fund A standard deviation value is lower than
Fund B. So you can say that there is a higher chance that Fund A will continue giving
similar returns in future also whereas Fund B returns may vary.

Beta value gives idea about how volatile fund performance has been compared to similar
funds in the market. Lower beta implies the fund gives more predictable performance
compared to similar funds in the market. So if you are comparing 2 funds (lets say Fund A
and Fund B) in the same category. If Fund A and Fund B has given 9% returns in last 3
years, but Fund A beta value is lower than Fund B. So you can say that there is a higher
chance that Fund A will continue giving similar returns in future also whereas Fund B
returns may vary.

Sharpe ratio indicates how much risk was taken to generate the returns. Higher the value
means, fund has been able to give better returns for the amount of risk taken. . It is
calculated by subtracting the risk-free return, defined as an Indian Government Bond,
from the fund’s returns, and then dividing by the standard deviation of returns. For
example, if fund A and fund B both have 3-year returns of 15%, and fund A has a Sharpe
ratio of 1.40 and fund B has a Sharpe ratio of 1.25, you can chooses fund A, as it has given

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higher risk-adjusted return.

Treynor’s ratio indicates how much excess return was generated for each unit of risk
taken. Higher the value means, fund has been able to give better returns for the amount
of risk taken. It is calculated by subtracting the risk-free return, defined as an Indian
Government Bond, from the fund’s returns, and then dividing by the beta of returns. For
example, if fund A and fund B both have 3-year returns of 15%, and fund A has a Treynor’s
ratio of 1.40 and fund B has a Treynor’s ratio of 1.25, then you can chooses fund A, as it
has given higher risk-adjusted return.

Alpha indicates how fund generated additional returns compared to a benchmark. . Let’s
say if a fund A benchmarks its returns with Nifty50 returns then alpha equal to 1.0
indicates the fund has beaten the nifty returns by 1%, so the higher the alpha, the better.

If we understand the above ratios we will comes to know that the scheme is under high
risk but at return it offering the higher returns as well. If the standard deviation lies in-
between 1-10 the scheme is less prone to volatility, but here the scheme is volatile. If we
talk about the beta value it should be around 1 or less than 1 but in this case the beta is
more than 1 so we can say that this scheme is volatile as per the change in the market. The
sharp ratio is considered as better if it lies in between 1-2 and in this case it exactly in that
range. Treynor Ratio of 0.5 is better than one of 0.25 and in this case the Treynor’s ratio
is 0.17 which means the scheme is giving the better output. If we talk about Jonson’s Alpha

The ideally this ratio should be should be more than 1% as it represents that the scheme
have performed outstandingly compared to the benchmark

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5.14 Scheme expenses

Fees and Expenses

Expense Head
% of daily
Net Assets
Investment Management and Advisory fees
Trustee fees
Audit fees
Custodian fees
RTA fees
Marketing and Selling Expenses incl. agent commission
Cost related to investor communications

Cost of fund transfer from location to location Upto 2.25%

Cost of providing account statements and IDCW redemption cheques and
warrents
Cost of statutory Advertisements
Cost towards investor education and awareness (at Least 2bps)

Brokerage and transaction cost over and above 12 bps and 5 bps for cash
derivative market trades resp.
Goods and Service Tax On expenses other than investment and advisory fees
GST on brokerage and transaction cost
UPTO
Additional expenses under regulation 52(6A)© 0.05%
Additional expenses for gross new inflows from specified cities under UPTO
regulation 52(6A)(b) 0.30%

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5.15 Comparison of Scheme with other Scheme (SAME CATEGORY)

Scheme Stand SHA JONSO

perform ard RP TREY N's
NAME OF FUND BENCHM ance Deviat BE RAT NOR 's ALPH
SCHEME NAV AUM MANAGER ARK (6M) ion TA IO RATIO A
Quant Anikt
Absolute Pande ,
Fund - ₹ Vasav
Direct 867. Sahgal ,
Plan - 327.9 83 Sanjeev NIFTY 1.3 1.2 14.1
Growth 375 Cr Sharma 50 15.47 17.23 1 6 0.17 4
Mahindr
a
Manulife
Hybrid
Equity
Nivesh Fatema
Yojana - ₹ Pacha ,
Direct 609. Rahul Pal
Plan - 18.73 43 , Manish NIFTY 1.0 0.6
Growth 26 Cr Lodha 50 10.65 14.83 3 8 0.1 2.38
Rajasa
Franklin Kakulavar
India apu ,
Equity Mayank
Hybrid Bukrediw
Fund - ₹ ala ,
Direct - 143 Anand
Growth 203.8 7.5 Radhakris NIFTY 1.0 0.4
863 Cr hnan 50 10.63% 15.56 5 9 0.07 -0.33

As we can see in above comparison table the scheme we have chosen is volatile and more
sensitive to the market movement but at other side the returns it is offering is outstanding
as compared to other two schemes.

5.15 Taxation

If sold after 1 year from purchase date, long term capital gain tax will be applicable.
Current tax rate is 10%, if your total long term capital gain exceeds 1 lakh. Any
cess/surcharge is not included.|If sold before 1 year from purchase date, short term
capital gain tax will be applicable. Current tax rate is 15%. Any cess/surcharge is not
included in the 15%.

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5.16 Portfolio

Portfolio Turnover Ratio : 151.00%

Category average turnover ratio is 143.80%

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CHAPTER 6

CONCLUSION

I have analyzed the Hybrid Aggressive mutual funds on their quantitative and qualitative
risk factors. Measures like Beta ratio indicated the funds’ performance as compared to
index returns. Basically, Beta ratio depicts what expectations the holds regarding its
performance. Whereas, Alpha ratio depicts funds’ performance as compared to its own
expectation (Beta ratio). Funds’ returns were compared with respect to funds’ age,
average annual returns, NAV , risk grade, return grade, expenses ratio, assets allocations,
risk ratios , risk measures. Funds’ qualitative performance is equally important. Factors
like behavior of funds, their frequency of performing in a certain in certain situations etc
are of great value to decide on the overall efficiency of the funds.

We compile the data on basis of top 3 AMCs on their AUMs valuation . Where we should
invest in the aggressive mutual fund scheme on which basis we go through the
QUALITATIVE PARAMETER in that we have to conclude that which mutual fund scheme
and fund suits on our financial investment’s and goals.

Based on all the qualitative and quantitative factors, Quant Absolute Fund - Direct
Plan - Growth is the best fund to invest currently on the basis of its returns, consistency
and risk bearing frequency. On the basis of their CAGR and their allocations of funds

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BIBILIOGRAPHY

https://www.moneycontrol.com/mutual-funds/quant-absolute-fund-direct-plan/sip-calculator-MES065.html

NISM MODULE 5A

https://www.etmoney.com/mutual-funds/quant-absolute-fund-direct-growth/16916

https://www.amfiindia.com/

https://quantmutual.com/

https://www.morningstar.in/mutualfunds/f00000pdwt/quant-absolute-fund-growth-option-direct-
plan/overview.aspx

IMPERIAL SCHOOL OF BANKING AND MANAGEMENT STUDIES