A

PROJECT REPORT ON

“A Comparative Study Of Mutual Funds Of India

(With References To Axis Mutual Funds & SBI Mutual Funds)”
(Duration 2019-2021)

SUBMITTED TO
R.T.M. Nagpur University, Nagpur
In partial fulfilment of the requirement of
BACHELOR OF BUSINESS ADMINISTRATION

SUBMITTED BY
SANSKRUTI NARENDRA BHONGADE

UNDER THE GUIDANCE OF:

PROF. KUSHAL DHARMIK

KAMLA NEHRU MAHAVIDYALAYA, NAGPUR

BACHELOR OF BUSINESS ADMINISTRATION
(Finance)
2021-2022

1
 Certificate
This is to certify that the project report entitled “A Comparative Study Of
Mutual Funds OF India (With Reference To Axis Mutual Funds
And SBI Mutual Funds)in FINANCE is submitted by SANSKRUTI
BHONGADE for partial fulfilment of the requirement of B.B.A.(Bachelor Of
Business Administration) degree of the R.T.M. Nagpur University , Nagpur.

It is the original project carried out under the supervision and guidance of Prof.
KUSHAL DHARMIK and undergone requisite duration as prescribed by
R.T.M. University, Nagpur for the project work.

Dr.DilipS. BadwaikProf.Kushal Dharmik

(Principle) (Guide)

Internal Examiner External Examiner

Place : Nagpur

Date :

2
 KAMLA NEHRU MAHAVIDYALAYA

(M.C.A & M.B.A. Programme)

NAGPUR

DECLARATION

I, SANSKRUTI BHONGADE, hereby declare that the Project Report entitled

“A Comparative Study Of Mutual Funds Of India (With
Reference To Axis Mutual Funds And SBI Mutual Funds)” is
submitted by me for the partial fulfilment of B.B.A. at “Kamla Nehru
Mahavidyalaya” (M.C.A. & M.B.A. Programme),Nagpur.
This report is an original work prepared/done by me and it has never been
submitted to any university/institution for award of any degree/diploma.

Place: Nagpur SANSKRUTI BHONGADE

Date: EnrolmentNo :20191015506502

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 ACKNOWLEDGEMENT

With immense pride and sense of gratitude, I take this opportunity to

express my sincere regards to my Prof. Kushal Dharmik Assistant
Professor, Department of M.B.A., Kamla Nehru Mahavidyalaya,
Nagpur, for his motivating guidance, important suggestion and
support for the completion of this work in time and in great successful
approach.
I record my sincere thanks to our H.O.D.Dr. Nitin D.Shrigiriwarfor
his kind support and our Principal Dr. DilipS.Badwaik for providing
necessary facilities in undertaking this work.
I am also immensely pleased to record my deep sense of gratitude to
all the supporting staff members of our M.B.A. Department, for their
encouragement and suggestion to complete this work successfully.

Place :Nagpur

Date: SANSKRUTIBHONGADE

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Industry Reviewer Remarks (IRR)

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6
 INDEX
“A Comparative Study Of Mutual Funds Of India
(With References to Axis Mutual Funds & SBI Mutual
Funds)”

Sr No Particulars Page
No
1. Executive summary 8-10

2. Introduction 11-21

3. Axis Mutual Fund 22-27

4. SBI Mutual Fund 28-34

5. Objectives of the study 35-36

6. Hypothesis 37-38

7. Research Methodology 39-42

8. Limitations 43-44

9. Data Analysis & Interpretation 45-59

10. Finding &Suggestion 60-63

11. Conclusion 64-66

12. Bibliography 67-68

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13. Annexure 69-74

EXECUTIVE SUMMARY

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 EXECUTIVE SUMMARY
A Mutual fund is a scheme in which several people invest their money for
a financial clause. The collected money is invested in Capital markets & the
money which they earned, is divided based on the number of units which they
hold.

The Mutual fund Industry was started in India in a small way with the
UTI creating what was effectively a small savings division within the RBI. This
was fairly successful for the next 25 years as it gave investors good returns. Due
to this RBI gave a go ahead to Public sector banks & financial institution to start
Mutual Funds in India and their success gave way to Private sector Mutual
Funds.

The advantages of Mutual Funds are Portfolio Diversification, Liquidity,

Professional Management, Ease of Companies, Less Risk, Low Transaction
cost, Transparency, Safety.

The Disadvantages of Mutual Funds are Cost, Index Does Better, Fees,
No Control over Investments, Profitability of High returns reduced
significantly, and Personal Tax situation is not considered.

Mutual Funds have to follow specific rules and regulation which are
prescribed by the SEBI. AMFI is the apex body of all the Asset Management
companies and is registered with the SEBI. Association of Mutual Funds India
has brought down the Indian Mutual Fund Industry to a professional and healthy
market with ethical lines enhancing.

There are many types of mutual funds in India. You can classify on the
basis of BY STRUCTURE (Open Ended Schemes , Close-Ended Schemes &
Interval schemes) , BY NATURE (Equity Fund, Debt Fund , Balanced Fund ) ,
BY INVESTMENT OBJECTIVE (Growth Schemes , Income Schemes ,
Balanced Schemes & Money Market Schemes) , OTHER SCHEMES (Tax
Saving Schemes , Index Schemes , Sector Specific).

Mutual Funds are very easy to buy and sell. You can buy mutual funds
directly from company or a broker. Before Investing in Mutual Funds one has to
look at all the factors like performance of the mutual funds from last 5 years ,
the returns given by mutual funds from last 5 years & the company’s net worth
has to be considered.

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 There are two types of Mutual Funds in India Public Sector Mutual Fund
& private sector mutual Fund. In Public Sector Mutual Funds there are UTI
Mutual Fund, State bank of India Mutual Funds , Bank of Baroda Mutual Funds
& In Private sector Mutual Funds there are Birla Sun Life Mutual , HDFC
Mutual Fund , ICICI Prudential Mutual Fund , Reliance Mutual Fund etc.

The Most trends of Mutual Funds is the aggressive expansion of Mutual

Funds. Nowadays there is lot of Competition within the Mutual Fund as there
are lot of private sector & Public sector mutual funds have entered the industry.

Returns Comparison has been done between two Mutual Fund

Companies like AXIS Mutual Fund & SBI Mutual Fund. In this comparison we
had taken both small & midcap companies. In which markets they have invested
the investors’ money. We’ve suggested some of the mutual funds. Which gives
you an Idea how you can and where you can invest.

“Mutual Funds are Subject to Market Risk, Please read all scheme
related documents carefully"

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INTRODUCTION

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 INTRODUCTION TO MUTUAL FUNDS

A
mutual fund is an open-end professionally managed investment
fund that pools money from many investors to purchase securities.
Mutual funds are "the largest proportion of equity of U.S.
corporations." Mutual fund investors may be retail or institutional in nature. The
term is typically used in theUnited States, Canada, andIndia, while similar
structures across the globe include the SICAV in Europe ('investment company
with variable capital') and open-ended investment company (OEIC) in the UK.
Mutual funds have advantages and disadvantages compared to direct investing
in individual securities. The advantages of mutual funds include economies of
scale, diversification, liquidity, and professional management. However, these
come with mutual funds . Primary structures of mutual funds are open-ended
funds, unit investment trust, closed-ended funds and exchange-traded
funds (ETFs).
Mutual funds are often classified by their principal investments as money
market funds, bond or fixed income funds, stock or equity funds, hybrid funds,
or other. Funds may also be categorized as index funds, which are passively-
managed funds that match the performance of an index, or actively- managed
funds. Hegde funds are not mutual funds as hedge funds cannot be sold to the
general public.

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What Is a Mutual Fund?
A mutual fund is a type of financial vehicle made up of a pool of
money collected from many investors to invest in securities like stocks, bonds,
money market instruments, and other assets. Mutual funds are operated by
professional money managers, who allocate the fund's assets and attempt to
produce capital gains or income for the fund's investors. A mutual fund's
portfolio is structured and maintained to match the investment objectives stated
in its prospectus.

Mutual funds give small or individual investors access to professionally

managed portfolios of equities, bonds, and other securities. Each shareholder,
therefore, participates proportionally in the gains or losses of the fund. Mutual
funds invest in a vast number of securities, and performance is usually tracked
as the change in the total market cap of the fund—derived by the aggregating
performance of the underlying investments.

Understanding Mutual Funds

Mutual funds pool money from the investing public and use that money to buy
other securities, usually stocks and bonds. The value of the mutual fund
company depends on the performance of the securities it decides to buy. So,
when you buy a unit or share of a mutual fund, you are buying the performance
of its portfolio or, more precisely, a part of the portfolio's value. Investing in a
share of a mutual fund is different from investing in shares of stock. Unlike

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stock, mutual fund shares do not give its holders any voting right. A share of a
mutual fund represents investments in many different stocks (or other securities)
instead of just one holding.

That’s why the price of a mutual fund share is referred as the net asset
value(NAV) per share, sometimes expressed as NAVPS. A fund's NAV is
derived by dividing the total value of the securities in the portfolio by the total
amount of shares outstanding. Outstanding shares are those held by all
shareholders, institutional investors, and company officers or insiders. Mutual
fund shares can typically be purchased or redeemed as needed at the fund's
current NAV, which—unlike a stock price—doesn't fluctuate during market
hours, but it issettled at the end of each trading day. Ergo, the price of a mutual
fund is also updated when the NAVPS is settled.

The average mutual fund holds over a hundred different securities, which means
mutual fund shareholders gain important diversification at a low price. Consider
an investor who buys only Google stock before the company has a bad quarter.
He stands to lose a great deal of value because all of his dollars are tied to one
company. On the other hand, a different investor may buy shares of a mutual
fund that happens to own some Google stock. When Google has a bad quarter,
she loses significantly less because Google is just a small part of the fund's
portfolio.

How Mutual Funds Work

A mutual fund is both an investment and an actual company. This dual nature
may seem strange, but it is no different from how a share of AAPL is a
representation of Apple Inc. When an investor buys Apple stock, he is buying
partial ownership of the company and its assets. Similarly, a mutual fund
investor is buying partial ownership of the mutual fund company and its assets.
The difference is that Apple is in the business of making innovative devices and
tablets, while a mutual fund company is in the business of making investments.

Investors typically earn a return from a mutual fund in three ways:

1. Income is earned from dividends on stocks and interest on bonds held in

the fund's portfolio. A fund pays out nearly all of the income it receives
over the year to fund owners in the form of a distribution. Funds often
give investors a choice either to receive a check for distributions or to
reinvest the earnings and get more shares.
2. If the fund sells securities that have increased in price, the fund has
acapital fund. Most funds also pass on these gains to investors in a
distribution.

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 3. If fund holdings increase in price but are not sold by the fund manager,
the fund's shares increase in price. You can then sell your mutual fund
shares for a profit in the market.

Types Of Mutual Funds :-

Mutual funds are divided into several kinds of categories, representing the kinds
of securities they have targeted for their portfolios and the type of returns they
seek. There is a fund for nearly every type of investor or investment approach.
Other common types of mutual funds include money market funds, sector
funds, alternative funds, smart-beta funds, target-date funds, and even funds of
funds, or mutual funds that buy shares of other mutual funds.

1) Equity Funds
2) Debt/Income Funds
3) Money Market Funds

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 4) Index Funds
5) Balanced Funds
6) Funds OF Funds
7) Specialty Funds

1)Equity Funds
The largest category is that of equity or stock funds. As the name implies, this
sort of fund invests principally in stocks. Within this group are various
subcategories. Some equity funds are named for the size of the companies they
invest in: small-, mid-, or large-cap. Others are named by their investment
approach: aggressive growth, income-oriented, value, and others. Equity funds
are also categorized by whether they invest in domestic (U.S.) stocks or foreign
equities. There are so many different types of equity funds because there are
many different types of equities. A great way to understand the universe of
equity funds is to use a style box, an example of which is below.

The idea here is to classify funds based on both the size of the companies
invested in (their market caps) and the growth prospects of the invested stocks.
The term value fund refers to a style of investing that looks for high-quality,
low-growth companies that are out of favor with the market. These companies
are characterized by low price-to-earning(P/E) ratios, low
price-to-book(P/B) ratios, and high dividend yields. Conversely, spectrums
are growth funds which look to companies that have had (and are expected to
have) strong growth in earnings, sales, and cash flows. These companies
typically have high P/E ratios and do not pay dividends. A compromise between
strict value and growth investment is a "blend," which simply refers to
companies that are neither value nor growth stocks and are classified as being
somewhere in the middle.

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The other dimension of the style box has to do with the size of the companies
that a mutual fund invests in. Large-cap companies have high market
capitalisation, with values over $10 billion. Market cap is derived by
multiplying the share price by the number of shares outstanding. Large-cap
stocks are typically blue chip firm that are often recognizable by name. small-
cap stocks refer to those stocks with a market cap ranging from $300 million to
$2 billion. These smaller companies tend to be newer, riskier investments. Mid
cap stocks fill in the gap between small- and large-cap.
A mutual fund may blend its strategy between investment style and company
size. For example, a large-cap value fund would look to large-cap companies
that are in strong financial shape but have recently seen their share prices fall
and would be placed in the upper left quadrant of the style box (large and
value). The opposite of this would be a fund that invests in startup technology
companies with excellent growth prospects: small-cap growth. Such a mutual
fund would reside in the bottom right quadrant (small and growth).

2)Debt/Income Funds

Income Funds are named for their purpose: to provide current income on a
steady basis. These funds invest primarily in government and high-quality
corporate debt, holding these bonds until maturity in order to provide interest
streams. While fund holdings may appreciate in value, the primary objective of
these funds is to provide steady cash flow to investors. As such, the audience for
these funds consists of conservative investors and retirees. Because they
produce regular income, tax-conscious investors may want to avoid these funds.

3)Money Market Funds

The money market consists of safe (risk-free), short-term debt instruments,

mostly government Treasury bills. This is a safe place to park your money. You
won't get substantial returns, but you won't have to worry about losing your
principal. A typical return is a little more than the amount you would earn in a
regular checking or savings account and a little less than the average certificate
of deposits. While money market funds invest in ultra-safe assets, during the
2008 financial crisis, some money market funds did experience losses after the
share price of these funds, typically pegged at $1, fell below that level
and broke the buck.

4)Index Funds

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Another group, which has become extremely popular in the last few years, falls
under the moniker "index funds." Their investment strategy is based on the
belief that it is very hard, and often expensive, to try to beat the market
consistently. So, the index fund manager buys stocks that correspond with a
major market index such as the S&P 500 or the Dow Jones Industrial Average
(DJIA). This strategy requires less research from analysts and advisors, so there
are fewer expenses to eat up returns before they are passed on to shareholders.
These funds are often designed with cost-sensitive investors in mind.

5)Balanced Funds

Balanced funds invest in a hybrid of asset classes, whether stocks, bonds,

money market instruments, or alternative investments. The objective is to
reduce the risk of exposure across asset classes. This kind of fund is also known
as an asset allocation fund. There are two variations of such funds designed to
cater to the investors objectives.

Some funds are defined with a specific allocation strategy that is fixed, so the
investor can have a predictable exposure to various asset classes. Other funds
follow a strategy for dynamic allocation percentages to meet various investor
objectives. This may include responding to market conditions, business cycle
changes, or the changing phases of the investor's own life.

6)Funds Of Funds

A "fund of funds" (FOF) is an investment strategy of holding a portfolio of

other investment funds rather than investing directly in stocks, bonds or
other securities. This type of investing is often referred to as multi manager
investment. A fund of funds may be "fettered", meaning that it invests only in
funds managed by the same investment company, or "unfettered", meaning that
it can invest in external funds run by other managers.

7)Specialty Funds

This classification of mutual funds is more of an all-encompassing category that

consists of funds that have proved to be popular but don't necessarily belong to
the more rigid categories we've described so far. These types of mutual funds
forgo broad diversification to concentrate on a certain segment of the economy
or a targeted strategy. Sector fund are targeted strategy funds aimed at specific
sectors of the economy, such as financial, technology, health, and so on. Sector
funds can, therefore, be extremely volatile since the stocks in a given sector
tend to be highly correlated with each other. There is a greater possibility for
large gains, but a sector may also collapse (for example, the financial sector in
2008 and 2009).
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Socially responsible fund (or ethical funds) invest only in companies that meet
the criteria of certain guidelines or beliefs. For example, some socially
responsible funds do not invest in "sin" industries such as tobacco, alcoholic

beverages, weapons, or nuclear power. The idea is to get competitive

performance while still maintaining a healthy conscience. Other such funds
invest primarily in green technology, such as solar and wind power or recycling.

8)Exchange Traded Funds

A twist on the mutual fund is the exchange traded fund(ETF). These ever more
popular investment vehicles pool investments and employ strategies consistent
with mutual funds, but they are structured as investment trusts that are traded on
stock exchanges and have the added benefits of the features of stocks. For
example, ETFs can be bought and sold at any point throughout the trading day.
ETFs can also be sold short or purchased on margin. ETFs also typically carry
lower fees than the equivalent mutual fund. Many ETFs also benefit from
active options markets, where investors can hedge or leverages their positions.
ETFs also enjoy tax advantages from mutual funds. Compared to mutual funds,
ETFs tend to be more cost effective and more liquid. The popularity of ETFs
speaks to their versatility and convenience

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Advantages Of Mutual Funds
 Portfolio Diversification:-Investing in a diversified portfolio can be very
expensive. The nice thing about mutual funds that they allow anyone to
hold a diversified portfolio. The reason why investors invest in a
diversified portfolio is because it increases the expected returns while
minimizing the risk.
 Liquidity: - Another nice advantage to mutual funds is that the assets are
liquid. In financial language, liquidity basically refers to converting your
assets to cash with relative ease. Mutual funds are considered liquid
assets since there is high demand for many of the funds in the
marketplace.
 Professional Management: - Mutual funds do not require a great deal of
time or knowledge from the Investor because they are managed by
professional managers. They can be a big help to inexperienced investor
who is looking to maximize their financial goals.
 Ease of Companies: - Mutual funds are also convenient because they are
easy to compare. This is because many mutual fund dealer allow the
investor to compare the funds on metrics such as level of risk, return
price. Because Information is easily available, the Investor is able to
make wise decisions.
 Less Risk: - Investors acquire a diversified portfolio of securities even
with a small investment in a mutual fund. The risk in diversified portfolio
is lesser than investing in 2 or 3 securities.
 Low Transaction cost: - Due to Economies of scale mutual funds pay
lesser transaction cost. The benefits are passed on to investors.
 Transparency: - Funds provide investors with updated information
pertaining to market & schemes. All material facts are disclosed to the
investor as required by regulator.
 Safety: - Mutual funds industry is a part of well-regulated investment
enjoinment where interest of the investors is protected by the regulators.
All funds are registered with SEBI & complete transparency is followed.

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Disadvantages Of Mutual Funds
 Cost:-The downside of mutual funds is that they have a high cost
associated with them in relation to the returns they produce. This is
because investors are not only charged for the price of the fund but they
will often face additional fees. Depending on the fund, commission
charges can be significant. You will need to pay fee that will go towards
the fund manager.
 Index Does Better: - In some cases, the stock Index may outperform the
mutual fund. However this is not always the case as it depends in large
part on
 the mutual fund the investor has invested in, as well as the skill set of
fund manager. Therefore, it is a good idea to do your research before
investing in fund. It is historical data indicates that is consistently
underperformed compared to an index, then it is not wise investment.
 Fees:-The fees that are charged will depend on the type of mutual fund
purchased. If a fund is risker and more aggressive, the management fee
will tend to be higher. In addition, the investor will also be required to
pay taxes, transaction fees as well as other costs related to maintaining
the fund.
 No Control over Investments: - You have absolutely no control over
what the Fund manager Des with you money. You can’t advise him on
how your money is to be invested. You only sit back and hope for the
best.
 Profitability of High returns reduced significantly: - A mutual fund
contains a diversified basket of securities. If a single security outperforms
by a significant margin the impact will be limited. Don’t Expect your
Investment to grow and give you profit Overnight. There will also be
downward fall in the limits of the fund.
 Personal Tax situation is not considered: - When you Invest in a
Mutual Fund, your money is pooled together with others and your
personal tax situation is not considered while making Investment
decisions. The most you can do is to choose between growth fund.

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 AXIS
MUTUAL FUNDS

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 AXIS MUTUAL FUNDS

A xis Bank Limited is an Indian private sector bank headquartered in

Mumbai, Maharashtra. It sells financial services to large and mid-size
companies, SMEs and retail businesses.
As of 30 June 2016, 30.81% shares are owned by the promoters and the
promoter group(United India Insurance Company Limited, Oriental Insurance
Company Limited, National Insurance Limited, New India Assurance Company
Ltd, GIC, LIC, and UTI) . The remaining 69.19% shares are owned by mutual
funds, FIIS, banks, insurance companies, corporate bodies and individual
investors.
AXIS MUTUAL FUND:-
Axis Mutual Fund is an asset management company in India. It was
established in 2009 and is headquartered in Mumbai.
Axis Mutual Fund offers various types of mutual fund schemes to invest in
India, such as equity funds, hybrid funds, debt funds, and more.

HISTORY:-
Axis Mutual Fund started its operations in 2009 with its first equity scheme,
Axis Equity Fund.

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In April 2012, Schroder’s, an asset management company, acquired a 25% stake
in Axis Mutual Fund.
In September 2019, Axis Mutual Fund launched an index fund based on Nifty
100 that is known as Axis Nifty 100 Index fund.[8] On 22 January, 2020, the
company launched ESG fund.

Key Information
Mutual Fund Axis Mutual Fund
Setup Date Sep-04-2009
Incorporation Date Jan-13-2009
Sponsor Axis Bank Limited
Trustee Axis Mutual Fund Trustee Limited
Chairman N.A
CEO / MD Mr. Chandresh Kumar Nigam
CIO N.A
Compliance Officer Mr. Darshan Kapadia
Investor Service Officer Mr. Milind Vengurlekar
Assets Managed Rs. 196548.66 crore (Mar-31-2021)

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 AXIS MUTUAL FUNDS SCHEMES :-
1) EQUITYSCHEMES:-Our equity schemes are designed to generate returns
by investing in shares of publicity listed companies.
SCHEMES NAMES NAV 3 YEAR
RETURN
Axis Long Term Equity Fund 66.44 19.85%
Axis Bluechip Fund 43.01 18.82%
Axis Focused 25 Fund 41.58 19.92%
Axis Growth Opportunities Fund 19.54 26.66%
Axis Flexi Cap Fund 17.81 20.13%
Axis Mid Cap Fund 64.63 25.80%
Axis Small Cap Fund 58.85 33.35%
Axis ESG Equity Fund 14.89 19.58%
Axis NIFTY 100 Index Fund 14.25 27.21%
Axis Special Situations Fund 11.99 28.11%
Axis Quant Fund 10.64 __

Axis Value Fund 9.57 __

Axis NIFTY 50 Index Fund 9.65 __

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Axis Multi cap Fund 9.54 __

Axis NIFTY Next 50 Index Fund 9.74 __

Axis Equity ETFs FoF 10.19 __

Axis NIFTY Mid Cap 50 Index 9.65 __

Fund
2) DEBT SCHEMES :-Our debt schemes aim to preserve capital while
meeting short-term investment goals.
DEBT SCHEMES NAV 3 YEARS
RETURN
Axis All Season Debt Fund 11.47 __
Axis Short Term Fund 24.80 23.70%
Axis Liquid Fund 2345.35 14.04%
Axis Ultra Short Term Fund 12.04 15.83%
Axis Treasury Advantage Fund 2486.45 19.90%
Axis Banking And PSU Debt Fund 2133.51 23.34%
Axis Corporate Debt Fund 13.69 21.21%
Axis Dynamic Bond Fund 23.87 27.60%
Axis Strategic Bond Fund 22.18 23.08%
Axis Credit Risk Fund 17.13 18.65%
Axis Gilt Fund 20.33 28.28%
Axis Floater Fund 1017.09 __
Axis Money Market Fund 1143.51 __

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Axis Overnight Fund 1119.98 __
Axis AAA Bond Plus SDL ETF 2026 10.13 __
Axis CPSE Plus SDL Fund 10.04 __
Axis Crisil SDL 2027 9.9081 __
3) HYBRID FUND :-Our hybrid schemes are designed to offer a balance
between equity and debt allocations.
HYBRID SCHEMES NAV 3 YEAR
RETURN
Axis Triple Advantage Fund 29.36 57.14%
Axis Arbitrage Fund 15.21 14.19%
Axis Equity Hybrid Fund 14.83 50.56%
Axis Equity Saver Fund 16.40 30.26%
Axis Regular Saver Fund 24.12 25.11%
Axis Balanced Advantage Fund 13.81 27.87%

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 SBI
MUTUAL FUND

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 STATE OF INDIA MUTUAL FUNDS

S tate Bank of India (SBI) is an Indian multinational, public sector

banking and financial services statutory body headquartered in Mumbai ,
Maharashtra . SBI is the 43rd largest bank in the world and ranked 221st
in the Fortune Global 500 list of the world's biggest corporations of 2020, being
the only Indian bank on the list. It is a public sector bank and the largest bank in
India with a 23% market share by assets and a 25% share of the total loan and
deposits market. It is also the fifth largest employer in the India with nearly
250,000 employees.
The bank descends from the BankOf Calcutta, founded in 1806 via the Imperial
Bank Of India, making it the oldest commercial bank in the Indian
Subcontinent. The Bank Of Madras merged into the other two presidency banks
in British India, the Bank Of Calcutta and the Bank Of Bombay, to form
the Imperial Bank Of India , which in turn became the State Bank of India in
1955. The Government Of India took control of the Imperial Bank of India in
1955, with Reserve Bank Of India (India's central bank) taking a 60% stake,
renaming it State Bank of India.

STATE BANK OF INDIA MUTUAL FUND:-

SBI Mutual Fund was incorporated in 1987 with its corporate head
office located in Mumbai, India. SBIFMPL is a joint venture between the State

29
Bank Of India, an Indian Public Sector Bank, and Amundi a European asset
Management company. A shareholder agreement in this regard has been entered
on April 13, 2011, between SBI & AMUNDI Asset Management. Accordingly,
SBI currently holds 63% stake in SBIFMPL and the 37% stake is held by
AMUNDI Asset Management through a wholly owned subsidiary, Amundi
India Holding. SBI & AMUNDI Asset Management shall jointly develop
thecompany as an asset management company of international repute by
adopting global best practices and maintaining international standards.

HISTORY:-
The mutual fund industry in India originally began in 1963 with the Unit Trust
Of India (UTI) as a GovernmentOf 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 GeneralAsset 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 Society General Asset Management, as part of a global move
to merge its asset management business with Credit Agricole
SBI Funds Management Private Limited (SBIFMPL) has been appointed as the
Asset Management Company of the SBI Mutual Fund. SBIFMPL is a joint
venturebetween the State Bank Of India, an Indian Public Sector Bank,
and Amundi, a European asset management company.
As of September, 2019, the fund house claims to serve 5,809,315 unique
investors through approximately 212 branches PAN India.
KEY MILESTONES:-

 1987 – Establishment of SBI Mutual Fund

 1991 – Launch of SBI Magnum Equity Fund
 1999 – Launch of sector funds, India's first contra fund: SBI Contra Fund
 2004 – Joint Venture with Society General Asset Management
 2006 – Became the first bank-sponsored fund to launch an offshore fund –
SBI Resurgent India Opportunities Fund
 2011 – Stake Transfer from SGAM to Amundi Asset Management
 2013 – Acquisition of Daiwa Mutual Fund, part of the Tokyo-based Daiwa
Securities Group.
 2013 – Launch of SBI Fund Guru, an investor education initiative

30
 2015 – Employee’s Provident Fund Organisationdecided to invest in the
equity market for the first time by investing Rs. 5,000 crore in the Nifty and
Sensex ETFs (Exchange Traded Fund) of SBI Mutual Fund
 2018 – First AMC in India to launch an Environment, Social and
Governance (ESG) fund viz Magnum Equity ESG Fund
2018 – Signatory to the United Nations Principles for Responsible Investment
(UN-PRI)

Key Information
Mutual Fund SBI Mutual Fund
Setup Date Jun-29-1987
Incorporation Date Feb-07-1992
Sponsor State Bank of India
Trustee SBI Mutual Fund Trustee Company Private Limited
Chairman Mrs. Arundhati Bhattacharya
CEO / MD Mrs. Anuradha Rao
CIO Mr. Navneet Munot
Compliance Officer Ms. Vinaya Datar
Investor Service Officer Mr. RohidasNakashe
Assets Managed Rs. 504455.21 crore (Mar-31-2021)

31
 SBI MUTUAL FUNDS SCHEMES
1) EQUITY SCHEMES:-SBI Equity Funds invest your money in equity and
equity related instruments.
EQUITY SCHEMES NAV 3 YEAR
RETURN
SBI Small Cap Fund 99.69 94.94%
SBI Focused Equity Fund 227.15 68.66%
SBI Contra Fund 193.34 79.63%
SBI Magnum Mid-cap Fund 131.33 80.14%
SBI Healthcare Opportunities Fund 218.77 85.76%
SBI Technology Opportunities Fund 150.09 135.39%
SBI Long Term Equity Fund 210.02 48.97%
SBI Consumption Opportunities Fund 177.43 44.82%
SBI Equity Minimum Variance Fund 15.01 __
SBI Magnum Global Fund 268.50 60.91%
SBI Large And Mid-cap Fund 350.49 62.21%
SBI Magnum Equity ESG Fund 156.11 54.87%

32
SBI Flexi-cap Fund 73.22 55.41%
SBI Banking And Financial Services Fund 22.34 30.04%
SBI Magnum Comma Fund 71.64 115.53%
SBI Blue-chip Fund 57.49 51.96%
SBI Infrastructure Fund 23.80 62.60%

2) DEBT SCHEME :-SBI Debt Funds invest in debt money market

instruments.
DEBT SCHEMES NAV 3 YEAR
RETURN
SBI Magnum Gift Fund 52.00 29.41%
SBI Magnum Medium Duration Fund 41.00 27.97%
SBI Magnum Constant Maturity Fund 50.48 25.84%
SBI Credit Risk Fund 36.02 21.57%
SBI Banking And PSU Fund 2537.11 23.20%
SBI Magnum Income Fund 56.69 43.09%
SBI Corporate Bond Fund 12.53 23.67%
SBI Magnum Low Duration Fund 2838.55 18.14%
SBI Ultra Short Duration Fund 4830.35 35.20%
SBI Saving Fund 33.59 16.69%

33
SBI Liquid Fund 3304.51 13.78%
SBI Short Term Debt Fund 25.95 22.32%
SBI Overnight Fund 3419.75 11.85%
SBI Dynamic Bond Fund 28.30 25.80%
SBI Floating Rate Debt Fund 10.57 __
3) HYBRID SCHEME :-A Debt Fund is a mutual fund scheme that invests in
fixed income instruments.
HYBRID SCHEME NAV 3 YEAR
RETURN

SBI Equity Hybrid Fund 198.61 51.96%

SBI Multi Asset Allocation Fund 37.21 39.93%

SBI Equity Savings Fund 17.06 34.10%

SBI Conservative Hybrid Fund 52.51 33.90%

SBI Arbitrage Hybrid Fund 27.23 13.83%

SBI Balanced Advantage Fund 10.08 __

34
 OBJECTIVES
OF THE STUDY

35
 OBJECTIVES OF THE STUDY

The objective of the study is to analyses, in detail the growth

pattern of the mutual funds industry in India and to evaluate performance of
different schemes floated by most preferred Mutual Funds in public fund in
public and private sector

 To study comparison of Mutual Funds between Axis MF and SBI MF.

 To Study about the Mutual Funds in India.
 To give brief Idea about mutual funds available in India.

36
 To give an idea about the schemes available.

HYPOTHESIS

37
 HYPOTHESIS

Hypothesis of the study is to be concluded as follows:-

 SBI Mutual Funds is not better option for investment point of view as
compared to Axis Mutual Funds.

 SBI Mutual Funds is better than Axis mutual Funds.

38
 RESEARCH
METHODOLOGY

39
 RESEARCH METHODOLOGY

Research Methodology: -

Research is "creative and systematic work undertaken to increase the

stock of knowledge”. It involves the collection, organization, and analysis of
information to increase understanding of a topic or issue. A research project
may be an expansion on past work in the field. Research projects can be used to
develop further knowledge on a topic, or for education. To test the validity of
instruments, procedures, or experiments, research may replicate elements of
prior projects or the project as a whole.

A research methodology or involves specific techniques that are adopted in

research process to collect, assemble and evaluate data. It defines those tools
that are used to gather relevant information in a specific research study.

40
Surveys, questionnaires and interviews are the common tools of research.
Research methodology is the path through which researchers need to conduct
their research. It shows the path through which these researchers formulate their
problem and objective and present their result from the data obtained during the
study period. This research design and methodology chapter also shows how the
research outcome at the end will be obtained in line with meeting the objective
of the study.

41
RESEARCH DESIGN: -

Research design refers to the overall strategy utilized to carry

out research that defines a succinct and logical plan to tackle established
research questions through the collection, interpretation, analysis, and
discussion of data.

The research design will be used in this study is both ‘Descriptive’ and
‘exploratory’.

1. COLLECTION OF DATA: -
SOURCES OF DATA:-

To fulfil the information, need of study. The data is collected from

primary as well as secondary sources.

 Primary data: - Primary data is data that is collected by a researcher

from first hand sources, using methods like surveys, interviews, or
experiments. It is collected with the research project in mind, directly
from primary sources.
The primary data is collected by ‘Undertaking an Online
Survey’
 Secondary Data: -Secondary data is the data that have been already
collected by and readily available from other sources. Such data are
cheaper and more quickly obtainable than the primary data and also may
be available when primary data cannot be obtained at all.

The secondary data is collected from ‘Internet’.

42
SAMPLING: -

Sampling is a process used in statistical analysis in which a

predetermined number of observations are taken from a larger population. The
methodology used to sample from a larger population depends on the type of
analysis being performed, but it may include simple random sampling or
systematic sampling.

The sampling consists of data obtained from college students for this
report.

 Sample size: -Sample size measures the number of individual samples

measured or observations used in a survey or experiment.
For this project sample size was 100.
 Tools of analysis: -Data analysis was done mainly from the data
collected from survey taken on Google forms. The data collection from
secondary sources is also used to analysis.
 Sampling technique: - For this research Convenience sampling
technique is used.
 Plan of analysis: - Tables were used for analysis of data. The data is
also neatly presented with the help of statistical tools such as graph and
pie diagrams.

43
LIMITATIONS
OF THE STUDY

44
 LIMITATIONS OF THE STUDY

Following are some limitations to the study:

 The survey was conducted to limited respondents i.e. Working
Professional & Businessman.
 The survey confines itself to the limited respondents of the age group
between 21-30. Hence finding would not be relevant to other age groups.
 The survey is only relevant to specific banks mutual fund i.e., AXIS
MUTUAL FUNDS & STATE BANK OF INDIA MUTUAL FUNDS.

45
 DATA ANALYSIS
AND
INTERPRETATIONS

46
 DATA ANALYSIS AND INTERPRETATIONS

1. Are you aware about investment in Mutual Funds?

OPTION RESPONDENTS
YES 87%
NO 13%

PU B L IC A WA R E N E SS A B OU T MU T U A L FU N D S
yes no
13%

87%

INTERPRATATION:-
The above pie chart represents 87% of respondents are aware about
Mutual Funds and only 13% of respondents don’t know about Mutual
Funds.

47
2. How do you come to know about mutual funds?

OPTION RESPONDENTS
ADVERTISEMENT 47%
BANKS 7%
FINANCIAL ADVISOR 4%
FRIENDS & FAMILY 42%

come to know about mutual funds

4%

Advertisement
Banks
Friends And Family
47%
42% Financial Advisor

7%

INTERPRETATION :-
Above doughnut represents 47% respondents know about Mutual
Funds by advertisements. 7% of respondents get to know from banks.
42% respondents know about Mutual Funds by friend and family,
whereas only 4% of respondents get to know from financial advisor.

48
3. What do you think which is better investment option according to
you?

OPTION RESPONDENTS
REAL ESTATE 20%
MUTUAL FUNDS 50%
SHARE MARKET 30%

Bett er investment option

20%

30%

50%

Share Market Mutual Funds Real Estate

INTERPRETATION:-
The above pie diagram represents 50% of respondents choose mutual
funds for better investment option and 20% respondents are interested
to invest in real estate , whereas rest of the remaining 30% are
interested to invest in share market.

49
4.Which mutual fund organisation would you prefer as better
investment options?

OPTION RESPONDENTS
PUBLIC 35%
PRIVATE 65%

BETTER INVESTMENT OPTION

AXIS MUTUAL FUNDS SBI MUTUAL FUNDS

35%

65%

INTERPRETATION:-
The above pie diagram represents 65% respondents think private
mutual fund as better investment option, while rest of the 35%
respondents think to invest in public mutual fund

5.Which financial institution will you prefer to buy mutual funds?

OPTION RESPONDENTS

50
 STATE BANK OF INDIA MF 68%
AXIS BANK MF 32%

FINANCIAL INSTITUTIONS TO BUY MUTUAL

FUND
SBI MUTUAL FUNDS Axis MUTUAL FUNDS

32%

68%

INTERPRETATION:-
The above pie diagram represents 68% respondents prefer to buy
mutual funds from State Bank of India MF while 32% respondents
prefer to buy from Axis MF.

6.Are you aware about risks associated with mutual funds?

51
 OPTION RESPONDENTS
YES 60%
NO 25%
MAY BE 15%

INTERPRETATON:-
Th
TYPES OF MUTUAL FUND e
EQUITIES DEBT HYBRID
15%

55%

30%

about doughnut represents 60% respondents are aware about the risk
of mutual funds while 25% of respondents don’t know the risk
involve in mutual funds, remaining 15% respondents may be know
about the risk involves in mutual funds.

7.What type of Mutual funds would you prefer to invest?

52
 OPTION RESPONDENTS
EQUITY 55%
DEBT 30%
HYBRID 15%

INTERPRETATION:-
The above pie diagram represents 55% respondents will prefer to
invest in Equities mutual funds, and 30% respondents prefer to invest
in Debt mutual funds while remaining 15% respondents prefer to
invest in Hybrid mutual funds.

53
8. Where do you find yourself as mutual fund investor.

OPTION RESPONDENTS
TOTALY IGNORANT 15%
PARTICAL KNOWLEDGE OF MF 75%
FULLY AWARE 10%

Sales

10% 15%

TOTALY IGNORANT
PARTICAL KNOWLEDGE OF MF
FULLY AWARE

75%

INTERPRETATION:-
The above doughnut represents 75% respondent get partial knowledge
of mutual funds after investing, while 15% respondents get totally
ignorant remaining 10% respondents get fully aware about mutual
funds after investing.

54
9.Which mutual fund scheme will you prefer?

OPTION RESPONDENTS
LIQUID FUND 20%
BLUE-CHIP FUND 15%
GROWTH FUND 45%
MID – CAP 6%
REGULAR INCOME FUND 9%
SECTOR FUND 5%

PREFERANCE OF MUTUAL FUNDS SCHEME

9% 20%
6% 5%

LIQUID FUND
BLUE-CHIP FUND
GROWTH FUND
MID CAP
15% REGULAR INCOME FUND
SECTOR FUND

45%

INTERPRETTION:-
The above bar pie diagram represents 20% respondents prefer to
invest in liquid fund scheme of mutual funds, 15% respondents prefer
to invest in blue-chip fund scheme of MF and 45% of respondents
prefer to invest in growth fund scheme of MF.5% respondents refer to
invest in sector fund and 6% respondents prefer to invest in mid-cap
scheme of mutual fund. 9% respondents prefer to invest in regular
income fund scheme of mutual funds.

55
10.Which mode of investment would you prefer in mutual fund?

OPTION RESPONDENTS
ONE TIME INVESTMENT 30%
SYSTAMATIC INVESTMENT 70%
PLAN (SIP)

Sales
ONE TIME INVESTMENT SYSTAMATIC INVESTMENT PLAN (SIP)

30%

70%

INTERPRETATION:-
The above doughnut represent 30% respondents prefer to invest in
mutual funds as onetime investment mode, while remaining 70%
respondents prefers Systematic Investment Plan (SIP) mode of
investment.

56
11. What is your working status ?
OPTIONS RESPONDENTS
INVESTORS 32%
BUSINESSMAN 25%
WORKING PROFESSIONALS 38%
EMPLOYESS/STUDENTS 5%

P E OP L E S WOR KING S T AT US
INVESTORS BUSINESSMAN
EMPLOYEES/ STUDENTS WORKING PROFESSIONALS

32%
38%

5%
25%

INTERPRETATIONS :-
The above pie diagram represents that 32% of investors , 25% of
businessman , 38% of working professionals and 5% of employess/
students are the investors in Mutual Funds.

57
 To Study about mutual Funds in India

SEBI:-
The Securities and Exchange Board of India (SEBI) is the most
important regulator of securities markets in India. SEBI is the
counterpart of the Securities And Exchange Commission (SEC) in the
U.S. Its stated objectives is “to protect the interests of investors in
securities and to promote the development of and to regulate the
securities market and for matters connected therewith or incidental
thereto.”

The Securities and Exchange Board of India was established in its

current incarnation in April 1992, following the passage of the
Securities and Exchange Board of India Act by the nation's
parliament. It was first established with more limited powers in 1988.
It supplanted the Controller of Capital Issues, which had regulated the
securities markets under the Capital Issues (Control) Act of 1947,
passed just months before India gained independence from the
British.

The SEBI headquarters is located in the business district at the

Bandra-Kurla Complex in Mumbai. It also has regional offices in the
cities of New Delhi, Kolkata, Chennai, and Ahmedabad, and more
than a dozen local offices in cities including Bangalore, Jaipur,
Guwahati, Patna, Kochi, and Chandigarh.

58
 TOP MUTUAL FUNDS BY SEBI :-

1) TOP SBI MUTUAL FUNDS

FUNDS NAMES NAV 3 YEARS RETURN

SBI Focused Equity 227.15 68.66%

Funds
SBI Blue-chip Funds 57.49 51.96%

SBI Equity Hybrid 17.06 34.10%

Funds

2) TOP AXIS MUTUAL FUNDS

FUNDS NAMES NAV 3 YEAR RETURN

Axis Growth 19.54 26.66%

Opportunity Funds
Axis Mid-cap Funds 64.63 25.80%

Axis Small Cap Funds 58.85 33.35%

59
Comparison Of Axis MF & SBI MF :-

EQUITY

AXIS MF & NAV SBI MF & NAV

Axis Long Term Equity Funds(66.44) SBI Long Term Equity Funds(210.02)
Axis Blue-chip Funds(43.01) SBI Blue-chip Funds(57.49)
Axis Focused Funds(41.58) SBI Focused Equity Funds(227.15)
Axis Flexi-Cap Funds(17.81) SBI Flexi-cap Funds(73.22)
HYBRID

AXIS MF & NAV SBI MF & NAV

Axis Arbitrage Funds(15.21) SBI Arbitrage Funds(27.23)
Axis Equity Hybrid Funds(14.83) SBI Equity Hybrid Funds(198.61)

Axis Equity Saver Funds(16.40) SBI Equity Saving Funds(17.06)

Axis Balanced Advantage SBI Balanced Advantage

Funds(13.81) Funds(10.08)
DEBT

AXIS MF & NAV SBI MF & NAV

Axis Short Term Funds(24.80) SBI Short Term Funds(25.95)
Axis Liquid Funds(2345.35) SBI Liquid Funds(3304.51)
Axis Credit Risk Funds(17.13) SBI Credit Risk Funds(36.02)

60
 FINDINGS
AND
SUGGESTION

61
 FINDINGS

 The above pie chart represents 87% of respondents are aware

about Mutual Funds and only 13% of respondents don’t know
about Mutual Funds.

 Above doughnut represents 47% respondents know about

Mutual Funds by advertisements. 7% of respondents get to
know from banks. 42% respondents know about Mutual Funds
by friend and family, whereas only 4% of respondents get to
know from financial advisor.

 The above pie diagram represents 50% of respondents choose

mutual funds for better investment option and 20% respondents
are interested to invest in real estate , whereas rest of the
remaining 30% are interested to invest in share market.

 The above pie diagram represents 65% respondents think private

mutual fund as better investment option, while rest of the 35%
respondents think to invest in public mutual fund

 The above pie diagram represents 68% respondents prefer to

buy mutual funds from State Bank of India MF while 32%
respondents prefer to buy from Axis MF.

 The about doughnut represents 60% respondents are aware

about the risk of mutual funds while 25% of respondents don’t
know the risk involve in mutual funds, remaining 15%

62
 respondents may be know about the risk involves in mutual
funds.
 The above pie diagram represents 55% respondents will prefer
to invest in Equities mutual funds, and 30% respondents prefer
to invest in Debt mutual funds while remaining 15%
respondents prefer to invest in Hybrid mutual funds.

 The above doughnut represents 75% respondent get partial

knowledge of mutual funds after investing, while 15%
respondents get totally ignorant remaining 10% respondents get
fully aware about mutual funds after investing.

 The above bar pie diagram represents 20% respondents prefer to

invest in liquid fund scheme of mutual funds, 15% respondents
prefer to invest in blue-chip fund scheme of MF and 45% of
respondents prefer to invest in growth fund scheme of MF. 5%
respondents refer to invest in sector fund and 6% respondents
prefer to invest in mid-cap scheme of mutual fund. 9%
respondents prefer to invest in regular income fund scheme of
mutual funds.

 The above doughnut represent 30% respondents prefer to invest

in mutual funds as onetime investment mode, while remaining
70% respondents prefers Systematic Investment Plan (SIP)
mode of investment.

 The above pie diagram represents that 32% of investors , 25% of

businessman , 38% of working professionals and 5% of
employess / students are the investors in Mutual Funds.

63
 SUGGESTIONS

The researcher has suggested some of the top mutual funds in this project report
are as follows:-
1) TOP SBI MUTUAL FUNDS :-
FUNDS NAMES NAV

SBI Focused Equity Funds 227.15

SBI Blue-chip Funds 57.49

SBI Equity Hybrid Funds 17.06

2) TOP AXIS MUTUAL FUNDS :-

FUNDS NAMES NAV

Axis Growth Opportunity Funds 19.54

Axis Mid-cap Funds 64.63

Axis Small Cap Funds 58.85

64
CONCLUSION

65
 CONCLUSION OF THE STUDY

After completing the project it is conclude that –

This project report is completely based on comparison between two mutual
funds, i.e AXIS MF & SBI MF. In this project report the researcher successfully
carried out a comparison between the mentioned mutual funds.With this project
report the researcher carried out the study on mutual funds in India This study
presents the availability and the presence of various mutual funds in India and
stated the popular schemes with respect to the companies taken under
consideration i.e. AXIS MF & SBI MF.

66
The hypothesis taken under consideration is as follows:-

SBI MF is not better option for investment point of view as compared to AXIS
MF. According to the survey 68% respondents choose SBI MF for their
investment option. Hence the Hypothesis is rejected.
SBI MF is better than AXIS MF.Therefore the survey says that almost 68% of
respondents prefer SBI Mutual Fund. Hence this Hypothesis is accepted.

67
BIBLIOGRAPHY

68
 BIBLIOGRAPHY

Online survey taken on Google Forms.

Websites –

 https://forms.gle/8Fe6mr2jXcLKFWnQ6

 https://www.axismf.com/

 https://www.sbimf.com/

 https://en.wikipedia.org/

 https://www.slideshare.net/

 https://www.investopedia.com/

 https://www.moneycontrol.com/

69
ANNEXURE

70
 ANNEXURE

This is a survey being conducted by SanskrutiBhongade.

“A Comparative Study Mutual Funds Of India
(With Reference To AXISMF And SBI MF)”
I am making my project report on the above title. I need your views to accomplish my project
report, so it’s my kind request to you please complete the questionnaire below. Thank You.

71
72
73
THANK YOU
-SANSKRUTI BHONGADE

74