finance related project report for mba/pgdm

Description
Project report on tax saving ICICI Mutual fund corporation ltd.

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9
A
STUDY OF TAX SAVING SCHEMES IN MUTUAL FUNDS
IN
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD.
Post Graduat D!"#o$a I% Ma%a&$%t 'F!%a%()
Su*$!ttd !% "art!a# +u#+!##$%t o+ t, r-u!r$%ts +or a.ard o+
Post Graduat D!"#o$a I% Ma%a&$%t o+ Dr V!r%dr S.aru" I%st!tut O+
Co$"utr Stud!s /a%"ur
Su*$!ttd *01
/u%a# Ra$a%!
P. No.2 39435956777
Gu!dd *01
CA V!s,a# C,o"ra1
Dr. VSICS

Sa8t Na&ar1 /a%"ur
6
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ACKNOWLEDGEMENT
9T, sat!s+a(t!o% u",or!a t,at a((o$"a%!s t, su((ss+u# (o$"#t!o% o+ a%0 .or8
.ou#d * !%(o$"#t u%#ss . $%t!o% t, %a$ o+ t, "rso%s1 .,o $ad !t
"oss!*#1 .,os (o%sta%t &u!da%( a%d %(oura&$%t sr:d as a *a(o% o+ #!&,t
a%d (ro.%d our ++orts .!t, su((ss.; I (o%s!dr !t a "r!:!#& to <"rss t,rou&,
t, "a&s o+ t,!s r"ort1 a +. .ords o+ &rat!tud a%d rs"(t to t,os .,o &u!dd
a%d !%s"!rd !% t, (o$"#t!o% o+ t,!s "ro=(t.; I a$ d"#0 !%d*td to Mrs.
Su$&,a >,at!a +or &!:!%& $ t, o""ortu%!t0 to do t,!s !%trst!%&"ro=(t a%d t,
t!$#0 su&&st!o%s ? :a#ua*# &u!da%(.
M0 s!%(r t,a%8s to CA V!s,a# C,o"ra 'Pro+ssor@ #(turr PGDM d"t.) .,o ,as
&u!dd $ a%d "ro:!dd :a#ua*# !%s!&,t dur!%& t, "ro=(t. H (o%sta%t#0
%(oura&d $ a%d s,o.d t, r!&,t "at, +ro$ da0 o% u" u%t!# t, (o$"#t!o% o+
$0 "ro=(t.

/u%a# Ra$a%!

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9
Crt!+!(at o+ I%tr%a# Gu!d
T,!s !s to (rt!+0 t,at t, "ro=(t t!t#d STUDY OF TAX SAVING SCHEMES IN
MUTUAL FUNDS OF ICICI PRUDENTIAL LIFE INSURANCE CO. LTD.
!s a *o%a+!d .or8 (arr!d out *0 /u%a# Ra$a%! a (a%d!dat +or t, F!%a# rsa(,
"ro=(t !% +!%a%( s(tor o+ Post Graduat D!"#o$a I% Ma%a&$%t o+ Dr.
V!r%dr S.aru" I%st!tut O+ Co$"utr Stud!s1 /a%"ur u%dr $0 (o$"#t
&u!da%( a%d d!r(t!o%.
S!&%atur o+ !%tr%a# &u!d

Na$2 CA V!s,a# C,o"ra
Ds!&%at!o%2 'Pro+ssor@ #(turr PGDM d"t.)
I%st!tut2 Dr. Vs!(s

Dat2
P#a(2 /a%"ur

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9
Contents
Sr. No. To"!( Pa& No.
A. I%trodu(t!o% 6B9
6. L!tratur R:!. A3B7A
4. Pro+!# o+ t, (o$"a%0 76B7C
7. Data a%a#0s!s a%d !%tr"rtat!o%s 79 D 65
5. Co%(#us!o% a%d Su&&sst!o%s 66B6E
6. >!*#!o&ra",0 6CB69
6
9
ACKNOWLEDGEMENT
I ta8 t,!s o""ortu%!t0 to <"rss $0 d" a%d s!%(r &rat!tud to 'U%!t Ma%a&r) o+ ICICI
Prud%t!a# L!+ I%sura%( Co.Ltd.1 >ra%(, +or ,!s &stur o+ a##o.!%& $ to u%drta8 t,!s "ro=(t
a%d !ts :ar!ous $"#o0s .,o #%t t,!r ,a%ds to.ards t, (o$"#t!o% o+ t,!s stud0
I .ou#d #!8 to t,a%8s a%d &rat!tud to $0 Fa(u#t0 o+ F!%a%( +or t,!r 8!%d (oo"rat!o%
a%d $ad !t as0 +or $ to (o$"#t t,!s ass!&%$%t.
F .!s, a%d <"rss $0 ,art +u## &rat!tud to t, "ro=(t &u!d +or t, &u!da%( a%d
su&&st!o%s t,rou&,out t, "ro=(t1 .!t,out .,!(, . .ou#d %ot ,a: *% a*# to (o$"#t t,!s
"ro=(t su((ss+u##0.
F <t%d $0 t,a%8s to a## $0 +r!%ds +or t,!r $ora# su""ort a%d %(oura&$%t. Last
*ut %ot #ast . t,a%8 $0 "ar%ts a%d r#at!: .,o !%s"!rd us a#.a0s to do t, *st.


6
9
CHAPTER I
INTRODUCTION
6
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MUTUAL FUND INDUSTRY
An Overve!
T, $utua# +u%d !%dustr0 !% !%d!a *&a% .!t, t, stt!%& u" o+ t, U%!t Trust o+ !%d!a
'UTI) !% A964 *0 t, Go:r%$%t o+ I%d!a. T!## t, 0ar 63331 UTI ,as &ro.% to * a do$!%a%t
"#a0r !% t, !%dustr0 .!t, t, assts o+ o:r Rs. E6157E (rors as o+ Mar(, 4A1 6333. t, UTI !s
&o:r%d *0 a s"(!a# #&!s#at!o%1 t, U%!t Trust o+ I%d!a A(t1 A964. !% A9CE "u*#!( s(tor *a%8s
a%d !%sura%( (o$"a%!s .r "r$!ttd to st u" $utua# +u%ds. A#so t, t.o !%sura%(
(o$"a%!s LIC a%d GIC sta*#!s,d $utua# +u%ds. S(ur!t!s E<(,a%& >oard o+ I%d!a 'SE>I)
+or$u#atd t, Mutua# Fu%d 'R&u#at!o%) A9941 .,!(, +or t, +!rst t!$ sta*#!s,d a
(o$"r,%s!: r&u#ator0 +ra$.or8 +or t, $utua# +u%d !%dustr0. S!%( t,% s:ra# $utua#
+u%ds ,a: *% st u" *0 t, "r!:at a%d t, =o!%t s(trors.
Gro!t" o# M$t$%& F$n's
T, I%d!a% Mutua# Fu%d ,as "assd t,rou&, t,r ",ass. T, +!rst ",as .as *t.%
A967 a%d A9CE a%d t, o%#0 "#a0r .as t, U%!t Trust o+ I%d!a1 .,!(, ,ad a tota# assts o+ Rs. 6E33
(rors at t, %d o+ A9CC. T, s(o%d ",as !s *t.% A9CE a%d A994 !% .,!(, "r!od C +u%ds
.r sta*#!s,d '6 *0 *a%8s a%d o% a(, *0 LIC a%d GIC). T, tota# assts u%dr $a%a&$%t
,ad &ro.% to rs. 6A36C (rors at t, %d o+ A997 a%d t, %u$*r o+ s(,$s .r A6E.
6
9
INTRODUCTION
T, t,!rd ",as *&a% .!t, t, %tr0 o+ "r!:at a%d +or!&% s(tors !% t, Mutua# Fu%d
!%dustr0 !% A994. /ot,ar! P!o%r Mutua# Fu%d .as t, +!rst +u%d to * sta*#!s,d t, "r!:at
s(tor !% asso(!at!o% .!t, a +or!&% +u%d. At t, %d o+ +!%a%(!a# 0ar 6333 '4A
st
Mar(,) +u%ds .r
+u%(t!o%!%& .!t, Rs. AA4335 (rors as tota# assts u%dr $a%a&$%t. As o% Au&ust %d 6333
t,r .r 44 +u%ds .!t, 49A s(,$s a%d assts u%dr $a%a&$%t .!t, Rs. A36C79 (rors.
As 0ou "ro*a*#0 8%o.1 $utua# +u%ds ,a: *(o$ <tr$#0 "o"u#ar o:r t, #ast 63
0ars. F,at .as o%( =ust a%ot,r o*s(ur +!%a%(!a# !%stru$%t !s %o. a "art o+ our da!#0 #!:s.
Mor t,a% C3 $!##!o% "o"#1 or o% ,a#+ o+ t, ,ous,o#ds !% A$r!(a1 !%:st !% $utua# +u%ds
T,at $a%s t,at1 !% t, U%!td Stats a#o%1 tr!##!o%s '0s1 .!t, a GTG) o+ do##ars ar !%:std !%
$utua# +u%ds.
I% +a(t1 to $a%0 "o"#1 !%:st!%& $a0!%& $utua# +u%ds. A+tr a##1 !tHs (o$$o% 8%o.#d&
t,at !%(st!%& !% $utua# +u%ds !s 'or at #ast s,ou#d *) *ttr t,a% s!$"#0 #tt!%& 0our (as, .ast
a.a0 !% a sa:!%&s a((ou%t1 *ut1 +or $ost "o"#1 t,atHs .,r t, u%drsta%d!%& o+ +u%ds %ds. It
dos%Ht ,#" t,at $utua# +u%d sa#s"o"# s"a8 a stra%& #a%&ua& t,at1 sou%d!%& sort o+ #!8
E%&#!s,1 !s !%trs"rsd .!t, =ar&o% #!8 MER1 NAVPS1 #oad@%oB#oad1 t(.
Or!&!%a##0 $utua# +u%ds .r ,ra#dd as a .a0 +or t, #!tt# &u0 to &t a "!( o+ t, $ar8t.
I%stad o+ s"%d!%& a## 0our +r t!$ *ur!d !% t, +!%a%(!a# "a&s o+ t, Fa## Strt Iour%a#1 a##
0ou ,a: to do !s *u0 a $utua# +u%d a%d 0ouHd * st o% 0our .a0 to +!%a%(!a# +rdo$. As 0ou
$!&,t ,a: &ussd1 !tHs %ot t,at as0. Mutua# +u%ds ar a% <(##%t !da !% t,or01 *ut1 !% ra#!t01
t,0 ,a:%Ht a#.a0s d#!:rd. Not a## $utua# +u%ds ar (ratd -ua#1 a%d !%:st!%& !% $utua#s !s%Ht
as as0 as t,ro.!%& 0our $o%0 at t, +!rst sa#s"rso% .,o so#!(!ts 0our *us!%ss.
6
9
O()ECTIVES
? To stud0 t, ta< sa:!%&s s(,$ o% $utua# +u%ds1 !ts "r+or$a%( !% t, $ar8t1 a%d !ts
<"osur to sto(8.
? To stud0 t, "ot%t!a# o+ $utua# +u%ds !% ICICI Prud%t!a# #!+ !%sura%( (o.#td.
? To a%a#0s t, "r+or$a%( o+ :ar!ous $utua# +u%ds s(,$s a%d su&&sts t, *st o%.
RESEARCH METHODOLOGY
SOURCES OF DATA*
? S(o%dar0 data2T,!s data ,as *% (o##(td +ro$ t, +!%a%(!a# r"orts a%d stat$%ts o+ t,
(o$"a%0.
LIMITATIONS2
? T, stud0 !s #!$!td to t, $utua# Fu%d o+ ICICI "rud%t!a# #!+ !%sura%(.
? It stud!s a*out !ts "r+or$a%( a%d ta< sa:!%&s.
? T, durat!o% o+ t, stud0 !s #!$!td.

6
9

CHAPTER+,
LITERATURE REVIEW
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Hstor- o# t"e In'%n M$t$%& F$n' In'$str-
T, $utua# +u%d !%dustr0 !% I%d!a startd !% A964 .!t, t, +or$at!o% o+ U%!t Trust o+ I%d!a1
at t, !%!t!at!: o+ t, Go:r%$%t o+ I%d!a a%d Rsr: >a%8. T, ,!stor0 o+ $utua# +u%ds !% I%d!a
(a% * *road#0 d!:!dd !%to +our d!st!%(t ",ass
Frst P"%se . /012+34 5UTI MONOPOLY6
A% A(t o+ Par#!a$%t sta*#!s,d U%!t Trust o+ I%d!a 'UTI) o% A964. It .as st u" *0 t,
Rsr: >a%8 o+ I%d!a a%d +u%(t!o%d u%dr t, R&u#ator0 a%d ad$!%!strat!: (o%tro# o+ t,
Rsr: >a%8 o+ I%d!a. I% A9EC UTI .as dB#!%8d +ro$ t, R>I a%d t, I%dustr!a# D:#o"$%t
>a%8 o+ I%d!a 'ID>I) too8 o:r t, r&u#ator0 a%d ad$!%!strat!: (o%tro# !% "#a( o+ R>I. T, +!rst
s(,$ #au%(,d *0 UTI .as U%!t S(,$ A967. At t, %d o+ A9CC UTI ,ad Rs.61E33 (rors o+
assts u%dr $a%a&$%t.
Se7on' P"%se . /034+/008 5Entr- o# P$9&7 Se7tor F$n's6
A9CE $ar8d t, %tr0 o+ %o%B UTI1 "u*#!( s(tor $utua# +u%ds st u" *0 "u*#!( s(tor
*a%8s a%d L!+ I%sura%( Cor"orat!o% o+ I%d!a 'LIC) a%d G%ra# I%sura%( Cor"orat!o% o+ I%d!a
'GIC). S>I Mutua# Fu%d .as t, +!rst %o%B UTI Mutua# Fu%d sta*#!s,d !% Iu% A9CE +o##o.d *0
Ca% *a%8 Mutua# Fu%d 'D( CE)1 Pu%=a* Nat!o%a# >a%8 Mutua# Fu%d 'Au& C9)1 I%d!a% >a%8
Mutua# Fu%d 'No: C9)1 >a%8 o+ I%d!a 'Iu% 93)1 >a%8 o+ >aroda Mutua# Fu%d 'O(t 96). LIC
sta*#!s,d !ts $utua# +u%d !% Iu% A9C9 .,!# GIC ,ad st u" !ts $utua# +u%d !% D($*r
A993.At t, %d o+ A9941 t, $utua# +u%d !%dustr0 ,ad assts u%dr $a%a&$%t o+ Rs.7E1337
(rors.
T"r' P"%se . /008+,::8 5Entr- o# Prv%te Se7tor F$n's6
F!t, t, %tr0 o+ "r!:at s(tor +u%ds !% A9941 a %. ra startd !% t, I%d!a% $utua# +u%d
!%dustr01 &!:!%& t, I%d!a% !%:stors a .!dr (,o!( o+ +u%d +a$!#!s. A#so1 A994 .as t, 0ar !%
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.,!(, t, +!rst Mutua# Fu%d R&u#at!o%s (a$ !%to *!%&1 u%dr .,!(, a## $utua# +u%ds1 <("t
UTI .r to * r&!strd a%d &o:r%d. T, rst.,!#
/ot,ar! P!o%r '%o. $r&d .!t, Fra%8#!% T$"#to%) .as t, +!rst "r!:at s(tor $utua# +u%d
r&!strd !% Iu#0 A994.
T, A994 SE>I 'Mutua# Fu%d) R&u#at!o%s .r su*st!tutd *0 a $or (o$"r,%s!: a%d
r:!sd Mutua# Fu%d R&u#at!o%s !% A996. T, !%dustr0 %o. +u%(t!o%s u%dr t, SE>I 'Mutua#
Fu%d) R&u#at!o%s A996.
T, %u$*r o+ $utua# +u%d ,ouss .%t o% !%(ras!%&1 .!t, $a%0 +or!&% $utua# +u%ds stt!%&
u" +u%ds !% I%d!a a%d a#so t, !%dustr0 ,as .!t%ssd
S:ra# $r&rs a%d a(-u!s!t!o%s. As at t, %d o+ Ia%uar0 63A41 t,r .r 44 $utua# +u%ds
.!t, tota# assts o+ Rs. A16A1C35 (rors. T, U%!t Trust o+ I%d!a .!t, Rs.77157A (rors o+ assts
u%dr $a%a&$%t .as .a0 a,ad o+ ot,r $utua# +u%ds.
Fo$rt" P"%se . Sn7e Fe9r$%r- ,:/8
I% F*ruar0 63341 +o##o.!%& t, r"a# o+ t, U%!t Trust o+ I%d!a A(t A964 UTI .as *!+ur(atd
!%to t.o s"arat %t!t!s. O% !s t, s"(!+!d U%drta8!%& o+ t, U%!t trust o+ I%d!a .!t, assts
u%dr $a%a&$%t o+ Rs.691C45 (rors as at t, %d o+ Ia%uar0 63341 r"rs%t!%& *road#01 t,
assts o+ US 67 s(,$1 assurd rtur% a%d (rta!% ot,r s(,$s. T, S"(!+!d U%drta8!%& o+
U%!t Trust o+ I%d!a1 +u%(t!o% u%dr a% ad$!%!strator a%d u%dr t, ru#s +ra$d *0 Go:r%$%t o+
I%d!a a%d dos %ot (o$ u%dr t, "ur:!. o+ t, Mutua# Fu%d R&u#at!o%s.
T, s(o%d !s t, UTI Mutua# Fu%d Ltd1 s"o%sord *0 S>I1 PN>1 >O> a%d LIC. It !s
r&!strd .!t, SE>I a%d +u%(t!o%s u%dr t, Mutua# Fu%d R&u#at!o%s. F!t, t, *!+ur(at!o% o+
t, rst.,!# UTI .,!(, ,ad !% Mar(, 6333 $or t,a% Rs. E61333 (rors o+ assts u%dr
$a%a&$%t a%d .!t, t, stt!%& u" o+ a UTI Mutua# Fu%d1 (o%+or$!%& to t, SE>I Mutua# Fu%d
R&u#at!o%s1 a%d .!t, r(%t $r&rs ta8!%& "#a( a$o%& d!++r%t "r!:at s(tor +u%ds1 t, $utua#
+u%d !%dustr0 ,as %trd !ts (urr%t ",as o+ (o%so#!dat!o% a%d &ro.t,. As at t, %d o+ Iu% 431
63341 t,r .r 4A +u%ds1 .,!(, $a%a& assts o+ Rs. A37E66 (rors u%dr 4E6 s(,$s.
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9
T"e ;r%<" n'7%tes t"e ;ro!t" o# %ssets over t"e -e%r*
GROWTH IN ASSETS UNDER MANAGEMENT
A73333 B A6AC35
J A37E66
A63333 D 9CA67 J
CEA93 9344C J
A33333B J E9767 J
J
C3333 D
63333 D
73333 D J 7E333
63333 D
7567
65 J
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P,as IV S!%( F* A4
YEARS


Not2 F,!# UTI .as *!+ur(atd !%to UTI Mutua# Fu%d a%d t, S"(!+!d U%drta8!%&
o+ t, U%!t Trust o+ I%d!a ++(t!: +ro$ F*ruar0 63A4. T, Assts u%dr $a%a&$%t o+ t,
S"(!+!d U%drta8!%& o+ t, U%!t Trust o+ I%d!a ,as t,r+or *% <(#udd +ro$ t, tota# assts
o+ t, !%dustr0 as a .,o# +ro$ F*ruar0.
Tren' n M$t$%& F$n's In'$str-
T, I%d!a% Mutua# +u%d !%dustr01 ds"!t a## t,at ,as *% sa!d a*out !t !s st!## !% a %as(%t
sta& a%d ,as <tr$#0 *r!&,t +utur a,ad. T, !%dustr0 !s st!## o%Bt%t, s!K o+ t, *a%8!%&
d"os!ts !% t, (ou%tr0.
T, "r!:at s(tor $utua# +u%d !%dustr0 !% !ts rs%t La:atarM !s *ar#0 E 0ars o#d. T, tota#
asst u%dr $a%a&$%t o:r t, "ast 7 to 5 tars ,as a#$ost r$a!% sta&%a%t arou%d t, Rs A331
333 (ror $ar8.
T,!s ,as "ut a -ust!o% $ar8 !% +ro%t o+ t, (#a!$s t,at $utua# +u%ds ar &ro.!%& "art o+ t,
+!%a%(!a# sa:!%&s a%d "#a%%!%& !%dustr0 !% I%d!a. It ,o#ds s(o" +or &ro.t,. I% I%d!a t,!s !%dustr0
*&a% .!t, t, stt!%& u" o+ t, U%!t Trust O+ I%d!a 'UTI) !% A967 *0 t, &o:r%$%t o+ I%d!a !%
ordr to $o*!#s s$a## sa:!%&. Dur!%& t, "ast 4E 0ars1 UTI ,as &ro.% to * a do$!%a%t "#a0r !%
t, !%dustr0 .!t, assts .!t, o:r Rs E6157E (ror as o+ Mar(,63A4. Ho.:r1 trou*# ,!t UTI ,as
#ost !ts do$!%a%t "os!t!o% !% t, !%dustr0 a%d t, asst u%dr $a%a&$%t ,as s#!""d drast!(a##0 to
Rs 761496 (ror.
Pr!:at s(tor $utua# +u%ds1 .,!(, .r "r$!ttd a#o%& .!t, +or!&% "art%rs !% A9941 %o.
%=o0 a do$!%a%t "os!t!o% !% t, (ou%tr0. /ot,ar! P!o%r Mutua# +u%d .as t, +!rst +u%d to *
6
9
sta*#!s,d !% t, "r!:at s(tor .!t, +or!&% +u%d. T, "r!:at s(tor %o. (o%tro#s arou%d RS
751CAC (ror assts u%dr $a%a&$%t1 a#$ost ,a#+ t, s!K o+ t, !%dustr0.
T, $utua# +u%d !%dustr0 ,as *(o$ a +astst &ro.!%& s(tor !% t, (ou%tr0Ms (a"!ta# a%d
+!%a%(!a# $ar8t .!t, a% a:ra& (o$"ou%dd &ro.t, rat o+ 63 "r(%t o:r t, "ast +!: 0ars.
T,!s !s ds"!t !%(ras!%& (o$"t!t!o% .!t, $or t,a% 43 asst $a%a&$%t (o$"a%!s +or
!%:storMs $o%0. As o% Iu% 63361 t, !%dustr0 ,as Rs A331E34 (ror asst u%dr $a%a&$%t
s"rad a(ross 46 +u%ds .!t, $or t,a% 493 s(,$s.
E<(,a%& >oard o+ I%d!a 'SE>I) (a$ out .!t, (o$"r,%s!: r&u#at!o% !% A9941 .,!(, d+!%d
t, stru(tur o+ t, $utua# +u%d a%d asst $a%a&$%t1 Co$"a%!s +or t, +!rst t!$. 9T, !%dustr0
!s !% t, "ro(ss o+ #:!%& !%to a *!&&r a%d *ttr !%:st$%t $d!u$ +or a## $ar8t s&$%t;1
Sa0 /a:!ta Hurr01 CEO ING I%:st$%t Ma%a&$%t1 +urt,r1 (urr%t#01 ING I%:st$%ts
$a%a&s arou%d Rs.467 (ror as o% Iu% 6336.
Dr%st7 Tr%ns#or=%ton*
T, !%dustr0 !s u%dr&o!%& a tra%s+or$at!o% a%d !s .!t%ss!%& #ar& %u$*r o+ $r&rs1
a(-u!s!t!o%s a%d ta8o:rs !% t, s(,$s a%d asst $a%a&$%t (o$"a%!s. Mutua# +u%d
"rodu(ts ar (o$"t!%& .!t, t, *a%8s d"os!ts1 Rsr:s >a%8s o+ I%d!a 'R>I) *o%ds1 "%s!o%
+u%ds a%d "ost o++!(s s(,$s t,at "ro:!d %ot o%#0 &uara%td rtur% *ut a#so ta<B+r rtur%s.
Ho.:r1 $utua# +u%ds ar u%a*# to "ro:!d assurd rtur% s!%( t,0 ar !%:st!%& !% +!%a%(!a#
$ar8ts a%d rtur%s +ro$ t,$ ar1 *0 d+!%!t!o%1 u%(rta!%. T,s tra%s+or$at!o% *%+!t!%& t,
!%:stor +r!%d#0 o"%B%dd s(,$s1 !%(ras!%& t, ra%& o+ +u%ds to (,oos +ro$1 %,a%(d
tra%s"ar%(0 a%d !$"ro:$%t r&u#at!o%.
M%r>et Tren's*
A #o% UTI .!t, =ust o% s(,$ !% A967 %o. (o$"ts .!t, as $a%0 as 733 odd "rodu(ts
a%d 47 "#a0rs !% t, $ar8t. I% s"!t o+ t, st!++ (o$"t!t!o% a%d #os!%& $ar8t s,ar1 UTI st!##
r$a!%s a +or$!da*# +or( to r(8o% .!t,.
Last s!< 0ars ,a: *% t, $ost tur*u#%t as .## as <!t!%& o%s +or t, !%dustr0. N.
"#a0rs ,a: (o$ !%1 .,!# ot,rs ,a: d(!dd to (#os s,o" *0 !t,r s##!%& o++ or $r&!%& .!t,
ot,rs. Produ(t !%%o:at!o% !s %o. "assN .!t, t, &a$ s,!+t!%& to "r+or$a%( d#!:r0 !% +u%d
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9
$a%a&$%t as .## as sr:!(. T,os d!r(t#0 asso(!atd .!t, t, +u%d $a%a&$%t !%dustr0 #!8
d!str!*utors1 r&!strars a%d tra%s+r a&%ts1 a%d :% t, r&u#ators ,a: *(o$ $or $atur a%d
rs"o%s!*#.
T, !%dustr0 !s a#so ,a:!%& a "ro+ou%d !$"a(t o% +!%a%(!a# $ar8ts. F,!# UTI ,as a#.a0s
*% a do$!%a%t "#a0r o% t, *ourss as .## as t, d*t $ar8ts1 t, %. &%rat!o%s o+ "r!:at
+u%ds1 .,!(, ,a: &a!%d su*sta%t!a# $ass1 ar %o. s% +#<!%& t,!r $us(#s. Fu%d $a%a&rs *0
t,!r s#(t!o% (r!tr!a +or sto(8s ,a: +or(d (or"orat &o:r%a%( o% t, !%dustr0. >0 r.ard!%&
,o%st a%d tra%s"ar%t $a%a&$%t .!t, ,!&,r :a#uat!o%s1 a s0st$ o+ r!s8Br.ard ,as *%
(ratd .,r t, (or"orat s(tor !s $or tra%s"ar%t t,% *+or.
Fu%ds ,a: s,!+td t,!r +o(us to t, r(ss!o% +r s(tors #!8 ",ar$a(ut!(a#s1 FMCG
a%d t(,%o#o&0 s(tor. Fu%ds "r+or$a%(s ar !$"ro:!%&. Fu%ds (o##(t!o%1 .,!(, a:ra&d at
#ss t,a% RsA33*% "r a%%u$ o:r +!:B0ar "r!od s"a%%!%& A994B9C dou*#d to Rs6A3*% !% A99CB
99. I% t, (urr%t 0ar $o*!#!Kat!o% t!## %o. ,a: <(dd Rs433*%. Tota# (o##(t!o% +or t,
(urr%t +!%a%(!a# 0ar %d!%& Mar(, 6333 !s <"(td to ra(, Rs753*%.
F,at !s "art!(u#ar#0 %ot.ort,0 !s t,at *u#8 o+ t, $o*!#!Kat!o% ,as *% *0 t, "r!:at
s(tor $utua# +u%ds rat,r t,a% "u*#!( s(tor $utua# +u%ds. I%dd "r!:at MFs sa. a %t !%+#o. o+
Rs. ECA9.47 (ror dur!%& t, +!rst %!% $o%t,s o+ t, 0ar as a&a!%st a %t !%+#o. o+ Rs. 637.73
(ror !% t, (as o+ "u*#!( s(tor +u%ds.
Mutua# +u%ds ar %o. a#so (o$"t!%& .!t, (o$$r(!a# *a%8s !% t, ra( +or rta!#
!%:storMs sa:!%&s a%d (or"orat +#oat $o%0. T, "o.r s,!+t to.ards $utua# +u%ds ,as *(o$
o*:!ous. T, (o$!%& +. 0ars .!## s,o. t,at t, trad!t!o%a# sa:!%& a:%us ar #os!%& out !% t,
(urr%t s(%ar!o. Ma%0 !%:stors ar ra#!K!%& t,at !%:st$%ts !% sa:!%&s a((ou%ts ar as &ood as
#o(8!%& u" t,!r d"os!ts !% a (#ost. T, +u%d $o*!#!Kat!o% tr%d *0 $utua# +u%ds !% t, (urr%t
0ar !%d!(ats t,at $o%0 !s &o!%& to $utua# +u%ds !% a *!& .a0. T, (o##(t!o% !% t, +!rst ,a#+ o+
t, +!%a%(!a# 0ar A999B6333 $at(,s t, .,o# o+ A99CB99.
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9
ASSET MANAGEMENT COMPANIES
I A UTI Asst Ma%a&$%t Co. Ltd.
II >AN/ SPONSORED
A >O> Asst Ma%a&$%t Sr:!(s Ltd.
6 Ca%*a%8 I%:st$%t Ma%a&$%t Sr:!(s Ltd.
4 PN> Asst Ma%a&$%t Co. Ltd.
7 S>I Fu%ds Ma%a&$%t Ltd.
III INSTITUTIONS
A GIC Asst Ma%a&$%t Co LtdO
6 Id*! Pr!%(!"a# Asst Ma%a&$%t Co. Ltd.
4 IL ? FS Asst Ma%a&$%t Co. Ltd.
7 I:a% >!$a Sa,a0oo& Asst Ma%a&$%t Co. Ltd.
IV PRIVATE SECTOR
A >%(,$ar8 Asst Ma%a&$%t (o. Ltd.
6 C,o#a$a%da#a$ Asst Ma%a&$%t Co. Ltd.
4 Es(orts Asst Ma%a&$%t Ltd.
7 I.M.Ca"!ta# Ma%a&$%t P:t. Ltd.
5 /ota8 Ma,!%dra Asst Ma%a&$%t Co. Ltd.
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9
6 R#!a%( Ca"!ta# Asst Ma%a&$%t Ltd.
E Su%dara$ Asst Ma%a&$%t Co$"a%0 Ltd.
V IOINT VENTURESBPREDOMINANTLY INDIAN
A >!r#a Su% L!+ Asst Ma%a&$%t Co. Ltd.
6 Crd!t Ca"!ta# Asst Ma%a&$%t Co. Ltd.
4 DSP Mrr!## L0%(, Fu%d Ma%a&rs Ltd.
7 F!rst I%d!a% Ma%a&$%t Pr!:at Ltd.
5 HDFC Asst Ma%a&$%t Co. Ltd.
6 Tata TD Fatr,ous Asst Ma%a&$%t Pr!:at Ltd.
VI IOINT VENTURESBPREDOMINANTLY FOREIGN
A A##!a%( Ca"!ta# Asst Ma%a&$%t 'I%d!a) P:t. Ltd.
6 Duts(, Asst Ma%a&$%t 'I%d!a) P:t. Ltd.
4 Du%d I%:st$%t $a%a&$%t ? Rsar(, 'P:t.) Ltd.
7 HS>C Asst Ma%a&$%t 'I%d!a) P:t. Ltd.
5 ING I%:st$%t Ma%a&$%t 'I%d!a) P:t. Ltd.
6 Mor&a% Sta%#0 Da% Fr!tr I%:st$%t Ma%a&$%t P:t. Ltd.
E Prud%t!a# ICICI Asst $a%a&$%t Co. Ltd.
C Sta%dard C,artrd Asst Ma%a&$%t Co. P:t. Ltd.
9 Su% F ? C Asst Ma%a&$%t 'I%d!a) P:t. Ltd.
A3 T$"#to% Asst Ma%a&$%t 'I%d!a) P:t. Ltd.
AA Pur!(, Asst Ma%a&$%t Co. 'I%d!a) P:t. Ltd.
VALUE CHAIN
As a *us!%ss or&a%!sat!o%1 a $utua# +u%d $a%a&$%t (o$"a%0 or +u%d (o$"#< '+!r$)
u%drta8s a sr!s o+ a(t!:!t!s ds!&%d to &%rat :a#u o+r !ts (usto$rs. >0 arra0!%& a +!r$Ms
strat&!(a##0 !$"orta%t a(t!:!t!s1 o% (a% (o%stru(t a +!r$Ms :a#u (,a!% r"rs%tat!o%. T,!s
a%a#0t!( too# ,as *% ad:a%(d *0 M7"e%e& Porter. I% &rou"!%& a +!r$Ms a(t!:!t!s t, a%a#0st
$ust (o%s!dr t, $a%%r !% .,!(, t, (o%o$!s o+ :ar!ous a(t!:!t!s d!++r a%d ,o. r!:a#s
d!st!%&u!s, t,$s#:s o% t, *as!s o+ t,s a(t!:!t!s. F !d%t!+0 +!: #!%8s !% t, :a#u (,a!% +or
a t0"!(a# $utua# +u%d1 as s,o.% !% t, +!&ur '"r:!ous "a&).
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9
T, #rst %7tvt- s t"e nvest=ent se&e7ton. Mutua# +u%ds !$"#$%t t,!r !%:st$%ts
strat&0 t,rou&, t,!r s#(t!o% o+ s(ur!t0 ,o#d!%&s. Fu%ds :ar0 !% t, a$ou%t o+ #at!tud t,0
&ra%t to "ort+o#!o $a%a&rs. I%:st$%ts $a0 * d(tatd (o$"#t#0 *0 +u%d (,artr1 as !s do% !%
a% S? P 533 !%d< +u%d1or s(ur!t0 s#(t!o% $a0 * #+t (o$"#t#0 to t, +u%d $a%a&rMs
d!s(rt!o%1 as !% a &ro.t, +u%d. To su""ort t,!s +u%(t!o%1 +u%ds r-u!r rsar(, .,!(, $a0 *
(o%du(td !%B,ous or "ur(,asd +ro$ :%dors !t,r .!t, (as, or .!t, so+tBdo##ar "a0$%t +ro$
*ro8rs.
T, ne?t %7tvt- s tr%'n; %n' e?e7$ton. O%( t, d(!s!o% ,as *% $ad to *u0 or
s## a "art!(u#ar s(ur!t01 a trad $ust * <(utd !% t, (a"!ta# $ar8ts. T,!s "ro(ss !%#:s %ot
o%#0 &tt!%& t, *st "r!( +or t, s(ur!t01 *ut a#so ad$!%!str!%& *a(8o++!( +u%(t!o%s su(, as
(ustod!a# sr:!s. T,!s "art!(u#ar #!%8 !% t, (,a!% $a0 s$ $!%or at +!rst &#a%(1 trad!%& a%d
<(ut!o% <"rt!s ar !%(ras!%&#0 *!%& r(o&%!sd as (r!t!(a# a(t!:!t!s.
T, t"r' te= !% t, (,a!% !s (usto$r r(ord 8"!%& a%d r"ort!%&. T,!s r+rs to t,
tas8s "r+or$d *0 tra%s+r a&%ts a%d to t, a(t!:!t!s a%d rsour(s r-u!rd to "rodu( "r!od!(
stat$%ts +or +u%ds s,ar ,o#drs.
T, #o$rt" %7tvt-@ =%r>etn; %n' 'str9$ton@ ds(r!*s ,o. t, +u%ds (o$$u%!(at
.!t, "ot%t!a# (usto$rs a%d s## t,!r "rodu(ts. Trad!t!o%a##01 o"%B%dd $utua# +u%ds .r
(at&or!Kd as !t,r %oB#a!d +u%ds usd "r!%t a%d #(tro%!( $d!a1 .ord o+ $out,1 a%d $a!#!%& to
a""a# to (o%su$rs d!r(t#0 .,ras #oad +u%ds ,!rd sa#s "o"# to $ar8t a%d s## t,!r
"rodu(ts. To "a0 t, sa#s "o"#1 #oad +u%ds (,ar&d (usto$rs o%Bt!$ +s1 (a##d 9#oads;.
T, #n%& %7tvt- !% our :a#u (,a!% !s nvestor &A$'t- serv7es. >0 t,!s . $a% t,
a(t!:!t!s +u%ds u%drta8 to "r$!t !%:stors to s.!t(, a$o%& :ar!ous !%:st$%t or to #!-u!dat
"ort+o#!os.
SYSTEMATIC PORTFOLIO MANAGEMENT
T, &oa# o+ "ort+o#!o $a%a&$%t !s to ass$*# :ar!ous s(ur!t!s a%d ot,r assts !%to
"ort+o#!os t,at addrss !%:stor %ds a%d t,% to $a%a& t,os "rot+o#!os so as to a(,!:
!%:st$%t o*=(t!:s. T, !%:storMs %ds ar d+!%d !% tr$ o+ r!s81 a%d t, "ort+o#!o $a%a&r
$a<!$!Ks rtur% +or !%:st$%t u%drta8%.
B Asset %&&o7%ton
S(ur!t0 s#(t!o% .!t,!% asst (#asss asst a##o(at!o% (a% *st * (,ara(tr!Kd as t,
*#%d!%& to&t,r o+ $a=or asst (#asss to o*ta!% t, ,!&,st #o%&Bru% rtur% at t, #o.st r!s8.
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9
Ma%a&rs (a% $a8 o""ort%!st!( s,!+ts !% asst (#ass .!&,t!%&s !% ordr to !$"ro: rtur%
"ros"(ts o:r t, #o%&Btr$ o*=(t!:. A#so $a%a&rs (a% !$"ro: rtur% "ros"(ts *0 s#(t!%&
s(ur!t!s t,at ,a: a*o: a:ra& <"(td rtur% .!t,!% t, !%d!:!dua# asst (#asss.
J Invest=ent =%n%;ers
Mu#t!tuds o+ !%:st$%t $a%a&$%t or&a%!Kat!o% o++r "ort+o#!o $a%a&$%t sr:!(s to
(#!%ts !%(#ud!%& $utua# +u%ds. I%:st$%ts or&a%!Kat!o% d!++r %ot o%#0 !% s!K a%d d&r o+
s"(!a#!Kat!o% *ut a#so !% t,!r a""roa(,s to !%:st$%t a%a#0s!s a%d "ort+o#!o $a%a&$%t. O%
t, .,o#1 ,o.:r t, *us!%ss "ort+o#!o $a%a&$%t ,as t%dd to.ard &ratr stru(tur a%d
d!s(!"#!% !% t, !%:st$%t "ro(ss a%d to.ard &ratr us o+ s0st$at!( a""roa(,s to !%:st!%&.
T,os or&a%!Kat!o%s at t, +or+ro%t !% !$"#$%t!%& s0st$at!( a""roa(,s to "ort+o#!o
$a%a&$%t ,a: &a!%d $ar8t s,ar at t, <"%s o+ ot,r +!r$s1 !% #ar& "art *(aus t,0
,a: *% $or ++(t!: !% addrss!%& (#!%t %ds a%d a(,!:!%& !%:st$%t o*=(t!:s.
J P%rt7<%nts
S:ra# &rou"s ot,r t,a% "ro+ss!o%a# "ort+o#!o $a%a&rs ar !$"orta%t "art!(!"a%ts !% t,
"ort+o#!o $a%a&$%t "ro(ss.
I% $ar8t!%& t, asst a##o(at!o% d(!s!o%1 $a=or "ort+o#!o !%:stors $"#o0 t, sr:!( o+
!%:st$%t $a%a&$%t (o%su#ta%ts. T,s ar or&a%!Kat!o%s t,at s"(!a#!K !% %ot o%#0 ad:!s!%&
o% asst a##o(at!o% *ut ot,r (r!t!(a# as"(ts1 su(, as stt!%& o+ &oa# a%d s#(t!o% o+ !%:st$%t
$a%a&rs.
J Asset 7&%sses
D:#o"!%& t, a""ro"r!at asst a##o(at!o% !s a (r!t!(a# ",as o+ t, "ort+o#!o $a%a&$%t
"ro(ss.
E-u!t!s1 *o%ds a%d $o%0 $ar8t !%stru$%ts ar $a=or asst (at&or!s t,at ar #ar&1 ar
&%ra##0 ,!&,#0 $ar8ta*# a%d ,a: trad!o%a##0 *% usd <t%s!:#0 *0 #o%&tr$ "ort+o#!o
!%:stors.
Asst (#asss +or "ort+o#!o !%:st$%t
Cor"orats
Co$$o% sto(8s
Do$st!( -u!t!s
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9
Lar&B(a"!ta#!Kat!o%
S$a##B(a"!ta#!Kat!o%
I%tr%at!o%a# -u!t!s
Ma=orB(ou%tr0 $ar8ts
E$r&!%& $ar8ts
>o%ds
Go:r%$%t a%d a&%(!s
AAABratd
H!&,#0B0!#d '=u%8) *o%ds
Mort&a&B*a(8d s(ur!t!s
I%tr%at!o%a# *o%ds
Mo%0 $ar8t !%stru$%ts
Trasur0 *!##s
CDs a%d (o$$r(!a# "a"r
Guara%td !%:st$%t (o%tra(ts
Ra# stat
V%tur (a"!ta#
T, "ort+o#!o $a%a&$%t !%dustr0 ,as #:d o:r t, #ast t.o d(ads !%to a stru(tur
.!t, s:ra# d!st!%(t &rou"!%&s o+ ,!&,#0 "ro+ss!o%a# "art!(!"a%ts. A#t,ou&, t, (urr%t stru(tur
d!++rs +ro$ t, "ast1 t, (r!t!(a# (o$"o%%ts o+ t, !%:st$%t d(!s!o% "ro(ss r$a!% t, sa$.
I%:stors %d to sta*#!s, &oa#s a%d * a.ar o+ t, (a"!ta# $ar8t trado++ !% d:#o"!%& a% asst
a##o(at!o% t,at t, *st $ts t, rtur% tar&t at a% a(("ta*# #:#.
T,r ar t,r *asd aras.,!(, !%:st!%& st0#s d!++r. A## !%+#u%( t, r!s81 rtur%s a%d
"r!od o+ !%:st$%t a%d !%#: +!%d!%& a s"ort *t.% t, <tr$s t,at su!ts t, +u%d a%d
!%:stors t, *st.
Attt$'e* dos !t +o##o. a to"Bdo.% a""roa(, '+!rst #!st !%dustr!s or s(tors +or !%:st$%t a%d
t,% s#(t s"(!+!( (o$"a%!s .!t,!% t,s !%dustr!s) or a *otto$Bu" a""roa(, '!%d!:!dua# sto(8s
.,!(, ar #!8#0 to out"r+or$ t, $ar8t ar !d%t!+!d +!rst a%d o%#0 t,% stud0 t, !%dustr0 or
$a(ro #:# +a(tors)Q
Intenst- o# =%n%;e=ent* !s t, s(,$ a(t!:#0 'r:!. t, "ort+o#!os r&u#ar#0) or "ass!:#0
'#ss !%t%s#0 $a%a&d sto(8s)Q
Dstr9$ton net!or>*
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9
T, ra"!d a((u$u#at!o% !% assts o+ $utua# +u%ds (rats $or (,a##%&s1 $ost !$"orta%t
a$o%& t,$ *!%& t, d!str!*ut!o% %t.or8. For t, #o%&Btr$ ,a#t, o+ t, !%dustr01 !t !s (ru(!a#
t,at !%:stors .,o (o$ !%to a +u%d (o$ .!t, a +u## u%drsta%d!%& o+ t, r!s8s !%#:d !% t,
!%:st$%t. A%d d!str!*utors "#a0 a% !$"orta%t ro# !% d!ss$!%at!o% o+ su(, !%+or$at!o%. At
"rs%t1 t, $a=or!t0 o+ +u%ds r#0 o% *ra%(, %t.or8 o+ *a%8s !% ordr to s## t,!r "rodu(ts s!%(
t, *ra%(, %t.or8 o+ $ost +u%d ,ouss !s rstr!(td to a +. (!t!s.
A#ter+s%&es serv7e*
I% I%d!a t0"!(a##0 t, d!str!*utorMs ro# (o$s to a% %d as soo% as t, "rodu(t !s so#d to t,
!%:stor. For su*s-u%t tra%sa(t!o%sBrd$"t!o% or s.!t(,o:rsBt, !%:stors o+t% ,as to &t
*a(8 to t, +u%d !ts#+. A% !%:storMs !%tr+a( .!t, a +u%d .ou#d * s!$"#r !+ t, .,o# ra%& o+
sr:!(s1 +ro$ d(!d!%& o% t, r!&,t "rodu(t to "ro(ss!%& t, +!%a# rd$"t!o% r-ust1 !s ,a%d#d
*0 a s!%&#d %t!t0.
(ASIC MUTUAL FUND INVESTMENT INSTRUMENT
M$t$%& F$n's %re nvestn; n 8 t-<es o# #$n's*
? Sto(8s
? >o%ds
? Mo%0 $ar8t !%stru$%ts
(ro%'&-@ M$t$%& F$n's nvest 9%s7%&&- n 8 t-<es o# %sset 7&%sses.
A. Sto7>s*+ Sto(8s r"rs%t o.%rs,!" or -u!t0 !% a (o$"a%0 "o"u#ar#0 8%o.% as s,ars.
6. (on's*+ T,s r"rs%t d*t +ro$ (o$"a%!s1 +!%a%(!a# !%st!tut!o%s or &o:r%$%t
a&%(!s.
4. Mone- M%r>et Instr$=ents*+ T,s !%(#ud s,ort D tr$ d%t !%stru$%t su(, as trasur0
*!##s1 (rt!+!(at o+ d"os!ts1 a%d !%tr *a%8 (a## $o%0.
M$t$%& F$n' 7%n 9e 7&%ss#e' 9%se' on t"er o9Ce7tves %s*
? Se7tor eA$t- s7"e=es*+ T,s s(,$s !%:st !% s,ar o+ (o$"a%!s !% as s"(!+!( s(tor.
? Dvers#e' eA$t- s7"e=es*+ T,s s(,$s !%:st !% s,ars a%d +!<d !%(o$ o+ t,
(o%o$0 o+ (o$"a%!s a(ross d!++r%t s(tors.
? H-9r' e7ono=- s7"e=es*+ T,s s(,$s !%:st !% a $!< s,ars a%d +!<d !%(o$
!%stru$%ts.
? In7o=e s7"e=es*+ T,s s(,$s !%:st !% +!<d !%(o$ !%stru$%ts su(, as *o%ds !ssud
*0 (or"orat a%d +!%a%(!a# !%st!tut!o%s1 a%d &o:r%$%t s(ur!t!s.
6
9
? Mone- M%r>et s7"e=es*+ T,s s(,$s !%:st !% s,ort D tr$ !%stru$%t su(, as
(rt!+!(at o+ d"os!ts1 trasur0 *!##s a%d s,ort D tr$ *o%ds.
ANALYSIS OF MUTUAL FUND
(ro%'&- t"e %n%&-ss 7%te;ores n 8 t-<es*
? Fu%da$%ta# a%a#0s!s
? T(,%!(a# a%a#0s!s
? >ta@Modr% "ort+o#!o t,or0 'MPT)
FUNDAMENTAL ANALYSIS*
T, a%a#0s!s o+ su(, +u%da$%ta# +a(tor &%ra# *us!%ss (o%d!t!o%s1 !%dustr0
out#oo81 ar%!%&s1 d!:!d%ds1 -ua#!t0 o+ $a%a&$%t t(.1
In t"s t%>e 7ons'er%ton on t"e so=e #o&&o!n; #%7tors*+
A. Co$"a%0 %t asst :a#u.
6. Est!$at!o% o+ 9Tru;.
4. Va#u o+ "ro+!t ar%!%& rat!o.
7. Est!$at!%& t, $ar8t :a#u o+ (urr%t a%d +or(ast!%&.
5. Co$"ar .!t, :ar!ous rat!os #!8 US1 U/.
6. Est!$at t, +utur 0!#d d!:!d%ds.
? Sto7> r%tn;*
T, rat!%& +or (o$$o% sto(8 d"%ds o:r t, (rta!% o+ d!:!d%d !% ta8 t,
(o%s!drat!o% +o##o.!%&sR.
A. I%&rd!%ts o+ s(ur!t0 a%a#0s!s.
6. It !%(#ud ,!stor!(a# data1 sa#s1 (a"!ta# t(.1
? E7ono=7 %n%&-ss*
A. C0(#!( ++(t
6. E(o%o$!( a%a#0s!s '+as,!o%s)
? Fn%n7%& %n%&-ss*
A. EPS
6. E>IT
4. ROI
6
9
7. PAT
? (on' r%tn;D
A. AAA . ";" nvest=ent ;r%'e* D*%turs ratd 9AAA; ar =ud&d to o++r ,!&,st
sa+t0 o+ t!$#0 "a0$%t a%d !%trst a%d "r!%(!"#s.
6. AA . ";" s%#et-* It !s o++r ,!&,st sa+t0 o+ t!$#0 "a0$%t a%d !%trst a%d
"r!%(!"#s.
Invest=ent ;r%'es
4. A . %'eA$%te s%#et-* D*%turs rats 9A; ar =ud&d o++r ,!&,st sa+t0 o+ t!$#0
"a0$%t a%d !%trst a%d "r!%(!"#s.
7. ((( .=o'er%te s%#et- >>> ar =ud&d to o++r su++!(!%t sa+t0 o+ t!$#0 "a0$%t
a%d !%trst a%d "r!%(!"#s.
S<e7$&%tve ;r%'e*
5. (( . In%'eA$%te s%#et-* D*%turs ratd 9>>; ar =ud&d to o++r t!$#0 "a0$%t
a%d !%trst a%d "r!%(!"#s.
1. ( . ";" rs>
E. C . s$9st%nt%& rs>* T!$#0 "a0$%t "oss!*# o%#0 !% +ara*# (!r(u$sta%(s
(o%t!%us.
3. D+ In 'e#%$&t
(ETA E MPT ANALYSIS
A%a#0s!s t, rs"o%s!:%ss o+ t, "r!( o+ a "art!(u#ar (o$"a%0 sto(8 to
(,a%& !% t, :a#u so$ $ar8t a:ra&.
TECHNICAL ANALYSIS*
A% a%a#0s!s o+ $ar8t *asd +a(tors su(, as Sto(8 "r!( $o:$%ts1 (,arts
t(.1
TYPES OF MUTUAL FUND SCHEMES
(Y STRUCTURE*
? OPEN . ENDED SCHEME
6
9
? CLOSED . ENDED SCHEME
? INTERVAL SCHEME
(Y INVESTMENT O()ECTIVE*
? GROWTH SCHEME
? INCOME SCHEME
? MONEY MARKET SCHEME
OTHER SCHEMES*
? TAX SAVING SCHEME
? SPECIAL SCHEME
? INDEX SCHEME
M$t$%& F$n' 9ro%'&- 7&%ss#e' nto TWO 7%te;ores*
/. O<en . En'e' S7"e=e #$n's
,. C&ose' . En'e' S7"e=e #$n's
No. d!s(uss dta!#s r&ard!%& a*o: +u%ds
OPEN + ENDED SCHEME FUND*
T, (o%("t o+ t,s +u%ds !s t,at t, !%:stors ar +r to %tr or <!t t, s(,$ at
a%0 "o!%t o+ t!$ dur!%& t, +u%d "r!od. T, !%:stors (a% "ur(,as@ sa# u%!ts o+ $utua# +u%d
t,rou&, $utua# +u%d trust. T, "r!(s at .,!(, t, u%!ts ar "ur(,asd@ so#d d"%d o% t, NAV o+
t, +u%d. At t,at "o!%t o+ t!$ as s"(!+!d *0 t, +u%ds. T, NAV o+ +u%d !s t, (urr%t $ar8t
:a#u o+ t,!r !%:st$%ts. >s!ds t, Nt Asst Va#u1 (rta!% +u%ds ta8 a% add!t!o%a# (,ar&
+ro$ t, !%:stors !% t, +or$ o+ E%tr0 #oad or E<!t #oad. So$ E<a$"#s o+ O"% D E%dd s(,$
+u%ds ar2
? T$"#to% I%d!a Gro.t, Fu%d.
? PruICICI D!s(o:r0 Fu%d.
6
9
? /ota8 O""ortu%!t!s
? Pr!%(!"a# D!:!d%d Y!#d Fu%d.
? R#!a%( Gro.t, Fu%d.
CLOSED . ENDED SCHEME FUND*
I% t, (ar o+ (#os %dd +u%d1 t, !%:stors ,a: to #oo8 t,!r +u%ds .!t, t, trust
+or "art!(u#ar "r!ods o+ t!$ as a s"(!+!d 0 t, tr$s o+ t, o++r. T, $a!% "ro*#$ +or t,
!%:stor !s t,at t,0 (a%%ot $o: !% out o+ t, +u%d +r#0. I% t, (as o+ C#osd DE%dd s(,$s
t, "r!(s o+ t, u%!ts ar (a#(u#atd !% t, sa$ $a%%r as !% t, (as o+ O"% D E%dd s(,$s.
Ho.:r t,s s(,$s do %ot (,ar& a% E%tr0@ E<!t #oad as !% t, (as o+ o"% D %dd s(,$.
INTERVAL SCHEME FUND*
T, (o%("t o+ t,s +u%ds !s t,at t, !%:stors ar +r to E%tr@ E<!t t, s(,$ at
a%0 "o!%t o+ t!$ dur!%& t, +u%d "r!od a%d t, !%:stors ,a: to #o(8 t,!r +u%ds .!t, t, trust +or
a "art!(u#ar "r!ods o+ t!$ as a s"(!+!d *0 t, tr$s o+ t, o++r.
GROWTH FUND*
It !s "r!$ar!#0 #oo8 +or &ro.t, o+ (a"!ta# su(, +u%ds !%:sts !% s,ortr .!t, "ot%t!a#
+or &ro.t, a%d (a"!ta# a""r(!at!o%. T,0 !%:st !% .## D sta*#!s,d (o$"a%!s .,r t,
(o$"a%0 !t s#+ a%d t, !%dustr0 !% .,!(, !t o"rats ar t,ou&,t to ,a: .## #o%& D tr$ &ro.t,
"ot%t!a# a%d ,%( &ro.t, +u%d "ro:!d #o. (urr%t !%(o$. Gro.t, "ot%t!a# &%ra##0 !%(urrd
,!&,r r!s8s t,a% I%(o$ Fu%d1 !% a% ++ort to s(ur $or "ro%ou%(d &ro.t,. So$ &ro.t, +u%ds
(o%(%trat o% o% or $or !%dustr0 s(tors a%d a#so !%:st !% a >road ra%& o+ !%dustr!s. Gro.t,
+u%ds ar su!ta*# +or !%:stors .,o (a% o++r to assu$ t, r!s8 o+ "ot%t!a# #oss !% :a#u t,!r
!%:st$%t !% t, s,ort D tr$ !% t, ,o" o+ a(,!:!%& su*sta%t!a# a%d r!s!%&s &a!%s.
6
9
E:%tua##0 t,0 ar %ot su!ta*# +or !%:stors .,o $ust (o%sr: t,!r "r!%(!"a# or
.,o $ust $a<!$!K (urr%t !%(o$.
GROWTH AND INCOME FUND*
Gro.t, a%d I%(o$ +u%ds s8 #o%& D tr$ &ro.t, o+ (a"!ta# as .## as (urr%t
!%(o$. T, !%:st$%t strat&!s usd to ra(, t,r &oa#s :r0 a$o%& +u%ds. So$ !%:st !% a
dua# "ort+o#!o (o%s!st!%& o+ &ro.t, sto(8 a%d !%(o$ sto(8s1 or a (o$*!%at!o% o+ &ro.t, sto(8s
"a0!%& ,!&, d!:!d%ds "r+rrd sto(81 (o%:rt!*# s(ur!t!s or +!<d !%(o$ s(ur!t!s su(, as
(or"orat *o%ds a%d $o%0 $ar8t !%stru$%ts.
Gro.t, a%d I%(o$ +u%ds ,a: #o. to $odrat sta*!#!t0 o+ "r!%(!"a# a%d $odrat
"ot%t!a# +or (urr%t !%(o$ a%d &ro.t, t,0 ar su!ta*# +or !%:stors .,o (a% assu$ so$ r!s8
to a(,!: &ro.t, o+ (a"!ta# *ut .,o a#so .a%t to $a!%ta!% a $odrat #:# o+ (urr%t !%(o$.
MONEY MARKET SCHEME*
It !s !%:std o%#0 !% ,!&, #!-u!d!t0O s,ortB tr$ to" D ratd $o%0 $ar8t
!%stru$%ts. Mo%0 $ar8t +u%ds ar su!ta*# +or !%:stors .,o .a%t ,!&, sta*!#!t0 o+ "r!%(!"a# a%d
(urr%t !%(o$ .!t, !$$d!at #!-u!d!t0.
LAW RELATING TO TAX SAVINGS UES 3:
>.Ddu(t!o%s !% rs"(t o+ (rta!% "a0$%ts
E5SDdu(t!o% !% rs"(t o+ #!+ !%sura%( "r$!a1 d+rrd a%%u!t01 (o%tr!*ut!o%s to "ro:!d%t +u%d1
su*s(r!"t!o% to (rta!% -u!t0 s,ars or d*%turs1 t(.
E6C3C. EE'A) I% (o$"ut!%& t, tota# !%(o$ o+ a% assss1 *!%& a% !%d!:!dua# or a H!%du
u%d!:!dd +a$!#01 t,r s,a## * ddu(td1 !% a((orda%( .!t, a%d su*=(t to t, "ro:!s!o%s o+ t,!s
6
9
s(t!o%1 t, .,o# o+ t, a$ou%t "a!d or d"os!td !% t, "r:!ous 0ar1 *!%& t, a&&r&at o+ t,
su$s r+rrd to !% su*Bs(t!o% '6)1 as dos %ot <(d o% #a8, ru"s.
'6) T, su$s r+rrd to !% su*Bs(t!o% 'A) s,a## * a%0 su$s "a!d or d"os!td !% t, "r:!ous 0ar
*0 t, assss
'!) to ++(t or to 8" !% +or( a% !%sura%( o% t, #!+ o+ "rso%s s"(!+!d !% su*Bs(t!o% '7)O
'!!) to ++(t or to 8" !% +or( a (o%tra(t +or a d+rrd a%%u!t01 %ot *!%& a% a%%u!t0 "#a% r+rrd
to !% (#aus '<!!)1 o% t, #!+ o+ "rso%s s"(!+!d !% su*Bs(t!o% '7)2
Pro:!dd t,at su(, (o%tra(t dos %ot (o%ta!% a "ro:!s!o% +or t, <r(!s *0 t, !%surd o+ a% o"t!o%
to r(!: a (as, "a0$%t !% #!u o+ t, "a0$%t o+ t, a%%u!t0O
'!!!) *0 .a0 o+ ddu(t!o% +ro$ t, sa#ar0 "a0a*# *0 or o% *,a#+ o+ t, Go:r%$%t to a%0
!%d!:!dua# *!%& a su$ ddu(td !% a((orda%( .!t, t, (o%d!t!o%s o+ ,!s sr:!(1 +or t, "ur"os
o+ s(ur!%& to ,!$ a d+rrd a%%u!t0 or $a8!%& "ro:!s!o% +or ,!s s"ous or (,!#dr%1 !% so +ar as
t, su$ so ddu(td dos %ot <(d o%B+!+t, o+ t, sa#ar0O
'! as a (o%tr!*ut!o% *0 a% !%d!:!dua# to a%0 "ro:!d%t +u%d to .,!(, t, Pro:!d%t Fu%ds A(t1
A965 'A9 o+ A965) a""#!sO
' as a (o%tr!*ut!o% to a%0 "ro:!d%t +u%d st u" *0 t, C%tra# Go:r%$%t a%d %ot!+!dEC *0 !t
!% t,!s *,a#+ !% t, O++!(!a# GaKtt1 .,r su(, (o%tr!*ut!o% !s to a% a((ou%t sta%d!%& !% t, %a$
o+ a%0 "rso% s"(!+!d !% su*Bs(t!o% '7)O
':!) as a (o%tr!*ut!o% *0 a% $"#o0 to a r(o&%!sd "ro:!d%t +u%dO
':!!) as a (o%tr!*ut!o% *0 a% $"#o0 to a% a""ro:d su"ra%%uat!o% +u%dO
':!!!) as su*s(r!"t!o% to a%0 su(, s(ur!t0 o+ t, C%tra# Go:r%$%t or a%0 su(, d"os!t s(,$ as
t,at Go:r%$%t $a01 *0 %ot!+!(at!o% !% t, O++!(!a# GaKtt1 s"(!+0 !% t,!s *,a#+O
6
9
'!<) as su*s(r!"t!o% to a%0 su(, sa:!%&s (rt!+!(at as d+!%d !% (#aus '() o+ s(t!o% 6E9 o+ t,
Go:r%$%t Sa:!%&s Crt!+!(ats A(t1 A959 '76 o+ A959)1 as t, C%tra# Go:r%$%t $a01 *0
%ot!+!(at!o%C3 !% t, O++!(!a# GaKtt1 s"(!+0 !% t,!s *,a#+O
'<) as a (o%tr!*ut!o%1 !% t, %a$ o+ a%0 "rso% s"(!+!d !% su*Bs(t!o% '7)1 +or "art!(!"at!o% !% t,
U%!tB#!%8d I%sura%( P#a%1 A9EA ',ra+tr !% t,!s s(t!o% r+rrd to as t, U%!tB#!%8d I%sura%(
P#a%) s"(!+!d !% S(,du# II o+ t, U%!t Trust o+ I%d!a 'Tra%s+r o+ U%drta8!%& a%d R"a#) A(t1
6336 '5C o+ 6336)O
'<!) as a (o%tr!*ut!o% !% t, %a$ o+ a%0 "rso% s"(!+!d !% su*Bs(t!o% '7) +or "art!(!"at!o% !% a%0
su(, u%!tB#!%8d !%sura%( "#a% o+ t, LIC Mutua# Fu%d C3aS%ot!+!d u%drT (#aus '64D) o+
s(t!o% A31 as t, C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o%CA !% t, O++!(!a# GaKtt1 s"(!+0 !%
t,!s *,a#+O
'<!!) to ++(t or to 8" !% +or( a (o%tra(t +or su(, a%%u!t0 "#a% o+ t, L!+ I%sura%( Cor"orat!o%
or a%0 ot,r !%surr as t, C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o%C6 !% t, O++!(!a# GaKtt1
s"(!+0O
'<!!!) as su*s(r!"t!o% to a%0 u%!ts o+ a%0 Mutua# Fu%d C6aS%ot!+!d u%drT (#aus '64D) o+ s(t!o%
A3 or +ro$ t, Ad$!%!strator or t, s"(!+!d (o$"a%0 u%dr a%0 "#a% +or$u#atd !% a((orda%(
.!t, su(, s(,$ as t, C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o%C4 !% t, O++!(!a# GaKtt1
s"(!+0 !% t,!s *,a#+O
'<! as a (o%tr!*ut!o% *0 a% !%d!:!dua# to a%0 "%s!o% +u%d st u" *0 a%0 Mutua# Fu%d
C4aS%ot!+!d u%drT (#aus '64D) o+ s(t!o% A3 or *0 t, Ad$!%!strator or t, s"(!+!d (o$"a%01
as t, C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o%C7 !% t, O++!(!a# GaKtt1 s"(!+0 !% t,!s *,a#+O
'< as su*s(r!"t!o% to a%0 su(, d"os!t s(,$ o+1 or as a (o%tr!*ut!o% to a%0 su(, "%s!o% +u%d
st u" *01 t, Nat!o%a# Hous!%& >a%8 sta*#!s,d u%dr s(t!o% 4 o+ t, Nat!o%a# Hous!%& >a%8
A(t1 A9CE '54 o+ A9CE) ',ra+tr !% t,!s s(t!o% r+rrd to as t, Nat!o%a# Hous!%& >a%8)1 as t,
C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o% !% t, O++!(!a# GaKtt1 s"(!+0 !% t,!s *,a#+O
'<:!) as su*s(r!"t!o% to a%0 su(, d"os!t s(,$ o+
6
9
'a) a "u*#!( s(tor (o$"a%0 .,!(, !s %&a&d !% "ro:!d!%& #o%&Btr$ +!%a%( +or (o%stru(t!o% or
"ur(,as o+ ,ouss !% I%d!a +or rs!d%t!a# "ur"ossO or
'*) a%0 aut,or!t0 (o%st!tutd !% I%d!a *0 or u%dr a%0 #a. %a(td !t,r +or t, "ur"os o+ da#!%&
.!t, a%d sat!s+0!%& t, %d +or ,ous!%& a((o$$odat!o% or +or t, "ur"os o+ "#a%%!%&1
d:#o"$%t or !$"ro:$%t o+ (!t!s1 to.%s a%d :!##a&s1 or +or *ot,1
as t, C%tra# Go:r%$%t $a01 *0 %ot!+!(at!o% !% t, O++!(!a# GaKtt1 s"(!+0 !% t,!s *,a#+O
'<:!!) as tu!t!o% +s '<(#ud!%& a%0 "a0$%t to.ards a%0 d:#o"$%t +s or do%at!o% or
"a0$%t o+ s!$!#ar %atur)1 .,t,r at t, t!$ o+ ad$!ss!o% or t,ra+tr1
'a) to a%0 u%!:rs!t01 (o##&1 s(,oo# or ot,r du(at!o%a# !%st!tut!o% s!tuatd .!t,!% I%d!aO
'*) +or t, "ur"os o+ +u##Bt!$ du(at!o% o+ a%0 o+ t, "rso%s s"(!+!d !% su*Bs(t!o% '7)O
'<:!!!) +or t, "ur"oss o+ "ur(,as or (o%stru(t!o% o+ a rs!d%t!a# ,ous "ro"rt0 t, !%(o$ +ro$
.,!(, !s (,ar&a*# to ta< u%dr t, ,ad I%(o$ +ro$ ,ous "ro"rt0 'or .,!(, .ou#d1 !+ !t ,ad
%ot *% usd +or t, asssss o.% rs!d%(1 ,a: *% (,ar&a*# to ta< u%dr t,at ,ad)1 .,r
su(, "a0$%ts ar $ad to.ards or *0 .a0 o+
'a) a%0 !%sta#$%t or "art "a0$%t o+ t, a$ou%t du u%dr a%0 s#+B+!%a%(!%& or ot,r s(,$ o+
a%0 d:#o"$%t aut,or!t01 ,ous!%& *oard or ot,r aut,or!t0 %&a&d !% t, (o%stru(t!o% a%d sa#
o+ ,ous "ro"rt0 o% o.%rs,!" *as!sO or
'*) a%0 !%sta#$%t or "art "a0$%t o+ t, a$ou%t du to a%0 (o$"a%0 or (oBo"rat!: so(!t0 o+
.,!(, t, assss !s a s,ar,o#dr or $$*r to.ards t, (ost o+ t, ,ous "ro"rt0 a##ottd to
,!$O or
'() r"a0$%t o+ t, a$ou%t *orro.d *0 t, assss +ro$
'A) t, C%tra# Go:r%$%t or a%0 Stat Go:r%$%t1 or
6
9
'6) a%0 *a%81 !%(#ud!%& a (oBo"rat!: *a%81 or
'4) t, L!+ I%sura%( Cor"orat!o%1 or
'7) t, Nat!o%a# Hous!%& >a%81 or
'5) a%0 "u*#!( (o$"a%0 +or$d a%d r&!strd !% I%d!a .!t, t, $a!% o*=(t o+ (arr0!%& o% t,
*us!%ss o+ "ro:!d!%& #o%&Btr$ +!%a%( +or (o%stru(t!o% or "ur(,as o+ ,ouss !% I%d!a +or
rs!d%t!a# "ur"oss .,!(, !s #!&!*# +or ddu(t!o% u%dr (#aus ':!!!) o+ su*Bs(t!o% 'A) o+ s(t!o%
461 or
'6) a%0 (o$"a%0 !% .,!(, t, "u*#!( ar su*sta%t!a##0 !%trstd or a%0 (oBo"rat!: so(!t01 .,r
su(, (o$"a%0 or (oBo"rat!: so(!t0 !s %&a&d !% t, *us!%ss o+ +!%a%(!%& t, (o%stru(t!o% o+
,ouss1 or
'E) t, asssss $"#o0r .,r su(, $"#o0r !s a% aut,or!t0 or a *oard or a (or"orat!o% or a%0
ot,r *od0 sta*#!s,d or (o%st!tutd u%dr a C%tra# or Stat A(t1 or
'C) t, asssss $"#o0r .,r su(, $"#o0r !s a "u*#!( (o$"a%0 or a "u*#!( s(tor (o$"a%0
or a u%!:rs!t0 sta*#!s,d *0 #a. or a (o##& a++!#!atd to su(, u%!:rs!t0 or a #o(a# aut,or!t0 or a
(oBo"rat!: so(!t0O or
'd) sta$" dut01 r&!strat!o% + a%d ot,r <"%ss +or t, "ur"os o+ tra%s+r o+ su(, ,ous
"ro"rt0 to t, assss1
*ut s,a## %ot !%(#ud a%0 "a0$%t to.ards or *0 .a0 o+
'A) t, ad$!ss!o% +1 (ost o+ s,ar a%d !%!t!a# d"os!t .,!(, a s,ar,o#dr o+ a (o$"a%0 or a
$$*r o+ a (oBo"rat!: so(!t0 ,as to "a0 +or *(o$!%& su(, s,ar,o#dr or $$*rO or
'>) t, (ost o+ a%0 add!t!o% or a#trat!o% to1 or r%o:at!o% or r"a!r o+1 t, ,ous "ro"rt0 .,!(, !s
(arr!d out a+tr t, !ssu o+ t, (o$"#t!o% (rt!+!(at !% rs"(t o+ t, ,ous "ro"rt0 *0 t,
aut,or!t0 (o$"t%t to !ssu su(, (rt!+!(at or a+tr t, ,ous "ro"rt0 or a%0 "art t,ro+ ,as
!t,r *% o((u"!d *0 t, assss or a%0 ot,r "rso% o% ,!s *,a#+ or *% #t outO or
6
9
'C) a%0 <"%d!tur !% rs"(t o+ .,!(, ddu(t!o% !s a##o.a*# u%dr t, "ro:!s!o%s o+ s(t!o% 67O
'<!<) as su*s(r!"t!o% to -u!t0 s,ars or d*%turs +or$!%& "art o+ a%0 #!&!*# !ssu o+ (a"!ta#
a""ro:d *0 t, >oard o% a% a""#!(at!o% $ad *0 a "u*#!( (o$"a%0 or as su*s(r!"t!o% to a%0
#!&!*# !ssu o+ (a"!ta# *0 a%0 "u*#!( +!%a%(!a# !%st!tut!o% !% t, "rs(r!*d +or$C7a.
E<"#a%at!o%.For t, "ur"oss o+ t,!s (#aus1
'!) #!&!*# !ssu o+ (a"!ta# $a%s a% !ssu $ad *0 a "u*#!( (o$"a%0 +or$d a%d r&!strd !%
I%d!a or a "u*#!( +!%a%(!a# !%st!tut!o% a%d t, %t!r "ro(ds o+ t, !ssu ar ut!#!sd .,o##0 a%d
<(#us!:#0 +or t, "ur"oss o+ a%0 *us!%ss r+rrd to !% su*Bs(t!o% '7) o+ s(t!o% C3BIAO
'!!) "u*#!( (o$"a%0 s,a## ,a: t, $a%!%& ass!&%d to !t !% s(t!o% 4C5 o+ t, Co$"a%!s A(t1
A956 'A o+ A956)O
'!!!) "u*#!( +!%a%(!a# !%st!tut!o% s,a## ,a: t, $a%!%& ass!&%d to !t !% s(t!o% 7AC6 o+ t,
Co$"a%!s A(t1 A956 'A o+ A956)O
'<<) as su*s(r!"t!o% to a%0 u%!ts o+ a%0 $utua# +u%d r+rrd to !% (#aus '64D) o+ s(t!o% A3 a%d
a""ro:d *0 t, >oard o% a% a""#!(at!o% $ad *0 su(, $utua# +u%d !% t, "rs(r!*d +or$C6a2
Pro:!dd t,at t,!s (#aus s,a## a""#0 !+ t, a$ou%t o+ su*s(r!"t!o% to su(, u%!ts !s su*s(r!*d o%#0
!% t, #!&!*# !ssu o+ (a"!ta# o+ a%0 (o$"a%0.
E<"#a%at!o%.For t, "ur"oss o+ t,!s (#aus #!&!*# !ssu o+ (a"!ta# $a%s a% !ssu r+rrd to !%
(#aus '!) o+ t, E<"#a%at!o% to (#aus '<!<) o+ su*Bs(t!o% '6)
T, +o##o.!%& (#aus '<<!) s,a## * !%srtd a+tr (#aus '<<) o+ su*Bs(t!o% '6) o+ s(t!o% C3C *0
t, F!%a%( A(t1 63361 ...+. AB7B633E 2
'<<!) as tr$ d"os!t
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6
9
'*) .,!(, !s !% a((orda%( .!t, a s(,$ +ra$d a%d %ot!+!d1 *0 t, C%tra# Go:r%$%t1 !% t,
O++!(!a# GaKtt +or t, "ur"oss o+ t,!s (#aus.
E<"#a%at!o%.For t, "ur"oss o+ t,!s (#aus1 s(,du#d *a%8 $a%s t, Stat >a%8 o+ I%d!a
(o%st!tutd u%dr t, Stat >a%8 o+ I%d!a A(t1 A955 '64 o+ A955)1 or a su*s!d!ar0 *a%8 as d+!%d !%
t, Stat >a%8 o+ I%d!a 'Su*s!d!ar0 >a%8s) A(t1 A959 '4C o+ A959)1 or a (orrs"o%d!%& %. *a%8
(o%st!tutd u%dr s(t!o% 4 o+ t, >a%8!%& Co$"a%!s 'A(-u!s!t!o% a%d Tra%s+r o+ U%drta8!%&s)
A(t1 A9E3 '5 o+ A9E3)1 or u%dr s(t!o% 4 o+ t, >a%8!%& Co$"a%!s 'A(-u!s!t!o% a%d Tra%s+r o+
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S(,du# to t, Rsr: >a%8 o+ I%d!a A(t1 A947 '6 o+ A947).
'4) T, "ro:!s!o%s o+ su*Bs(t!o% '6) s,a## a""#0 o%#0 to so $u(, o+ a%0 "r$!u$ or ot,r "a0$%t
$ad o% a% !%sura%( "o#!(0 ot,r t,a% a (o%tra(t +or a d+rrd a%%u!t0 as !s %ot !% <(ss o+
t.%t0 "r (%t o+ t, a(tua# (a"!ta# su$ assurd.
E<"#a%at!o%.I% (a#(u#at!%& a%0 su(, a(tua# (a"!ta# su$ assurd1 %o a((ou%t s,a## * ta8%
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'!!) o+ a%0 *%+!t *0 .a0 o+ *o%us or ot,r.!s o:r a%d a*o: t, su$ a(tua##0 assurd1 .,!(, !s
to * or $a0 * r(!:d u%dr t, "o#!(0 *0 a%0 "rso%.
'7) T, "rso%s r+rrd to !% su*Bs(t!o% '6) s,a## * t, +o##o.!%&1 %a$#02
'a) +or t, "ur"oss o+ (#auss '!)1 '1 '<) a%d '<!) o+ t,at su*Bs(t!o%1
'!) !% t, (as o+ a% !%d!:!dua#1 t, !%d!:!dua#1 t, .!+ or ,us*a%d a%d a%0 (,!#d o+ su(, !%d!:!dua#1
a%d
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'*) +or t, "ur"oss o+ (#aus '!!) o+ t,at su*Bs(t!o%1 !% t, (as o+ a% !%d!:!dua#1 t, !%d!:!dua#1 t,
.!+ or ,us*a%d a%d a%0 (,!#d o+ su(, !%d!:!dua#O
'() +or t, "ur"oss o+ (#aus '<:!!) o+ t,at su*Bs(t!o%1 !% t, (as o+ a% !%d!:!dua#1 a%0 t.o
(,!#dr% o+ su(, !%d!:!dua#.
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6
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++(t or .,r t, (o%tra(t (ass to * !% +or( *0 raso% o+ +a!#ur to "a0 a%0 "r$!u$1 *0 %ot
r:!:!%& (o%tra(t o+ !%sura%(1
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!%sura%(O or
'*) !% a%0 ot,r (as1 *+or "r$!u$s ,a: *% "a!d +or t.o 0arsO or
'!!) tr$!%ats ,!s "art!(!"at!o% !% a%0 u%!tB#!%8d !%sura%( "#a% r+rrd to !% (#aus '<) or (#aus
'<!) o+ su*Bs(t!o% '6)1 *0 %ot!( to t,at ++(t or .,r , (ass to "art!(!"at *0 raso% o+ +a!#ur
to "a0 a%0 (o%tr!*ut!o%1 *0 %ot r:!:!%& ,!s "art!(!"at!o%1 *+or (o%tr!*ut!o%s !% rs"(t o+ su(,
"art!(!"at!o% ,a: *% "a!d +or +!: 0arsO or
'!!!) tra%s+rs t, ,ous "ro"rt0 r+rrd to !% (#aus '<:!!!) o+ su*Bs(t!o% '6) *+or t, <"!r0 o+
+!: 0ars +ro$ t, %d o+ t, +!%a%(!a# 0ar !% .,!(, "ossss!o% o+ su(, "ro"rt0 !s o*ta!%d *0
,!$1 or r(!:s *a(81 .,t,r *0 .a0 o+ r+u%d or ot,r.!s1 a%0 su$ s"(!+!d !% t,at
(#aus1t,%1
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su$s1 r+rrd to !% (#auss '!)1 '<)1 '<!) a%d '<:!!!) o+ su*Bs(t!o% '6)1 "a!d !% su(, "r:!ous 0arO
a%d
'*) t, a&&r&at a$ou%t o+ t, ddu(t!o%s o+ !%(o$ so a##o.d !% rs"(t o+ t, "r:!ous 0ar or
0ars "r(d!%& su(, "r:!ous 0ar1 s,a## * d$d to * t, !%(o$ o+ t, assss o+ su(,
"r:!ous 0ar a%d s,a## * #!a*# to ta< !% t, assss$%t 0ar r#:a%t to su(, "r:!ous 0ar.
'6) I+ a%0 -u!t0 s,ars or d*%turs1 .!t, r+r%( to t, (ost o+ .,!(, a ddu(t!o% !s a##o.d
u%dr su*Bs(t!o% 'A)1 ar so#d or ot,r.!s tra%s+rrd *0 t, assss to a%0 "rso% at a%0 t!$
.!t,!% a "r!od o+ t,r 0ars +ro$ t, dat o+ t,!r a(-u!s!t!o%1 t, a&&r&at a$ou%t o+ t,
ddu(t!o%s o+ !%(o$ so a##o.d !% rs"(t o+ su(, -u!t0 s,ars or d*%turs !% t, "r:!ous 0ar
or 0ars "r(d!%& t, "r:!ous 0ar !% .,!(, su(, sa# or tra%s+r ,as ta8% "#a( s,a## * d$d
6
9
to * t, !%(o$ o+ t, assss o+ su(, "r:!ous 0ar a%d s,a## * #!a*# to ta< !% t, assss$%t
0ar r#:a%t to su(, "r:!ous 0ar.
E<"#a%at!o%.A "rso% s,a## * tratd as ,a:!%& a(-u!rd a%0 s,ars or d*%turs o% t, dat o%
.,!(, ,!s %a$ !s %trd !% r#at!o% to t,os s,ars or d*%turs !% t, r&!str o+ $$*rs or o+
d*%turB,o#drs1 as t, (as $a0 *1 o+ t, "u*#!( (o$"a%0.
'E) For t, "ur"oss o+ t,!s s(t!o%1
'a) t, !%sura%(1 d+rrd a%%u!t01 "ro:!d%t +u%d a%d su"ra%%uat!o% +u%d r+rrd to !% (#auss
'!) to ':!!)O
'*) u%!tB#!%8d !%sura%( "#a% a%d a%%u!t0 "#a% r+rrd to !% (#auss '<!!) to '<!!!a)O
'() "%s!o% +u%d a%d su*s(r!"t!o% to d"os!t s(,$ r+rrd to !% (#auss '<!!!() to '<!:a)O
'd) a$ou%t *orro.d +or "ur(,as or (o%stru(t!o% o+ a rs!d%t!a# ,ous r+rrd to !% (#aus '<1
o+ su*Bs(t!o% '6) o+ s(t!o% CC s,a## * #!&!*# +or ddu(t!o% u%dr t, (orrs"o%d!%& "ro:!s!o%s
o+ t,!s s(t!o% a%d t, ddu(t!o% s,a## * a##o.d !% a((orda%( .!t, t, "ro:!s!o%s o+ t,!s s(t!o%.
'C) I% t,!s s(t!o%1
'!) Ad$!%!strator $a%s t, Ad$!%!strator as r+rrd to !% (#aus 'a) o+ s(t!o% 6 o+ t, U%!t Trust
o+ I%d!a 'Tra%s+r o+ U%drta8!%& a%d R"a#) A(t1 6336 '5C o+ 6336)O
'!!) (o%tr!*ut!o% to a%0 +u%d s,a## %ot !%(#ud a%0 su$s !% r"a0$%t o+ #oa%O
'!!!) !%sura%( s,a## !%(#ud
'a) a "o#!(0 o+ !%sura%( o% t, #!+ o+ a% !%d!:!dua# or t, s"ous or t, (,!#d o+ su(, !%d!:!dua# or
a $$*r o+ a H!%du u%d!:!dd +a$!#0 s(ur!%& t, "a0$%t o+ s"(!+!d su$ o% t, st!"u#atd
dat o+ $atur!t01 !+ su(, "rso% !s a#!: o% su(, dat %ot.!t,sta%d!%& t,at t, "o#!(0 o+ !%sura%(
"ro:!ds o%#0 +or t, rtur% o+ "r$!u$s "a!d '.!t, or .!t,out a%0 !%trst t,ro%) !% t, :%t o+
su(, "rso% d0!%& *+or t, sa!d st!"u#atd datO
'*) a "o#!(0 o+ !%sura%( ++(td *0 a% !%d!:!dua# or a $$*r o+ a H!%du u%d!:!dd +a$!#0 +or t,
*%+!t o+ a $!%or .!t, t, o*=(t o+ %a*#!%& t, $!%or1 a+tr , ,as atta!%d $a=or!t0 to s(ur
!%sura%( o% ,!s o.% #!+ *0 ado"t!%& t, "o#!(0 a%d o% ,!s *!%& a#!: o% a dat 'a+tr su(,
ado"t!o%) s"(!+!d !% t, "o#!(0 !% t,!s *,a#+O
6
9
'! L!+ I%sura%( Cor"orat!o% $a%s t, L!+ I%sura%( Cor"orat!o% o+ I%d!a sta*#!s,d u%dr
t, L!+ I%sura%( Cor"orat!o% A(t1 A956 '4A o+ A956)O
' "u*#!( (o$"a%0 s,a## ,a: t, sa$ $a%!%& as !% s(t!o% 4CE o+ t, Co$"a%!s A(t1 A956 'A
o+ A956)O
':!) s(ur!t0 $a%s a Go:r%$%t s(ur!t0 as d+!%d !% (#aus '6) o+ s(t!o% 6CC o+ t, Pu*#!(
D*t A(t1 A977 'AC o+ A977)O
':!!) s"(!+!d (o$"a%0 $a%s a (o$"a%0 as r+rrd to !% (#aus ',) o+ s(t!o% 6 o+ t, U%!t Trust
o+ I%d!a 'Tra%s+r o+ U%drta8!%& a%d R"a#) A(t1 6336 '5C o+ 6336)O
':!!!) tra%s+r s,a## * d$d to !%(#ud a#so t, tra%sa(t!o%s r+rrd to !% (#aus '+) o+ s(t!o%
669UA.T
T%? . P&%nnn;*
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:ar!ous o"t!o%s a%d dtr$!%!%& .,!(, su!ts us t, *st. >ut .,% !t (o$s to "#a%%!%& out
6
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!%:st$%ts +ro$ a ta< D sa:!%& "rs"(t!:1 $or o+t% t,a% %ot1 . s!$"#0 &o t, trad!t!o%a# .a0
a%d do t, <a(t sa$ t,!%& t,at . d!d !% t, ar#!r 0ars. F##1 !% (as 0ou .r %ot a.ar t,
&u!d#!%s &o:r%!%& su(, !%:st$%ts ar a #ot d!++r%t t,!s 0ar a%d #t,ar&0 o% 0our "art to
r.or8 0our !%:st$%t "#a% (ou#d (ost 0ou dar.
F,0 ar t, sta8s ,!&,r t,!s 0arQ
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<(d Rs A1331333 O o+ t,!s Rs 431333 .as <(#us!:#0 rsr:d +or !%+rastru(tur >o%ds. A#so1 t,
r*at rdu(d .!t, :r0 r!s !% t, !%(o$ s#a*O !%d!:!dua#s ar%!%& o:r Rs 5331333 "r 0ar
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rta!%dO ,o.:r !%tr%a# (a"s ,a: *% do% a.a0 .!t,. I%d!:!dua#s ,a: a &ratr d&r o+
+#<!*!#!t0 !% d(!d!%& ,o. $u(, to !%:st !% t, #!&!*# !%stru$%ts. T, ot,r s!&%!+!(a%t (,a%&r
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*ra(8t ar #!&!*# +or t,!s !%:st$%t. For $ost radrs1 t,s d:#o"$%ts .!## rsu#t !% ,!&,r
ta<Bsa:!%&s.
TAX SAVING SCHEME*
I% t, (ar o+ (#os %dd +u%d1 t, !%:stors ,a: to #oo8 t,!r +u%ds .!t, t, trust
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>ra(8t;. It !s !$"orta%t to 8" !% $!d t,at 0our 9Ta<a*# I%(o$;1 or !%(o$ a+tr ddu(t!o%s1
d+!%s 0our ta< *ra(8t .,!(, (ou#d a(tua##0 * #o.r t,a% t, a$ou%t o+ $o%0 0ou ,a: ar%d
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Lo.r L!$!t U""r #!$!t Ta< Pa0a*#
3 Rs.A1331333 N!#
6
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Rs.A133133A Rs.A1531333 A3U o+ !%(o$ !% <(ss o+ Rs.A1331333
Rs.A153133A Rs.61531333 Rs.51333 V 63U o+ !%(o$ !% <(ss o+ Rs.A1531333
Rs.6153133A No U""r L!$!t Rs.651333 V 43U o+ !%(o$ !% <(ss o+ Rs.61531333
For <a$"#1 !+ 0our ta<a*# !%(o$ !s Rs.61331333 +or t, 0ar1 0ou .ou#d +a## .!t,!% t,
Rs.A153133A to Rs.61531333 ta< *ra(8t. You .ou#d ,a: to "a0 t, +!<d su$ +or t,!s s#a*1 .,!(,
!s Rs.51333 "#us 63U o+ t, a$ou%t t,at <(ds Rs.A1531333. I% 0our (as1 t,!s <(ss a$ou%t
.ou#d * Rs.531333. So1 0our tota# !%(o$ ta< +or t, 0ar .ou#d * Rs.51333 V Rs.A31333 W
Rs.A51333.
You (a% L$o:M !%to a #o.r ta< *ra(8t *0 !%:st!%& !% a ta< sa:!%& !%stru$%t. Ho. dos
t,!s .or8Q Rad o%.
DOFS AND DONTFS WHILE SELECTING A MUTUAL FUND*
DOFS*
? C,(8 t, tra(8 r(ord o+ t, asst $a%a&$%t (o$"a%0.
? S .,at !s o++rd !% tr$s o+ a+trBsa#s sr:!(.
? O"t +or a% !%(o$ or &ro.t, s(,$ o% t, *as!s o+ !%(o$ r-u!r$%ts.
? Co%s!dr 0our #!-u!d!t0 %ds to (,oos *t.% a% o"%BorB(#osB%dd +u%d.
? E<a$!% rd$"t!o% a%d rB"ur(,as +a(!#!t!s.
DONTFS*
? N:r =ud& a $utua# +u%d *0 t, %a$ o+ t, &rou" t,at !s +#oat!%& !t.
? Do%Mt !%:st !% a $utua# +u%d .,% t, $ar8t !s o% a% u"s.!%&.
? Do %ot o"t +or a +u%d .,r t, NAV !%d"%d%t#0 o% t, s%s<.
? Do %ot :!. NAV !%d"%d%t#0 o+ t, s%s<.
? N:r *ut .,% t, u%!t !s -uotd at a "r$!u$ to NAV.
ADVANTAGES OF MUTUAL FUND*
? PROFESSIONAL MANAGEMENT*
E<"r!%(d +u%d $a%a&rs su""ortd *0 rsar(, ta$1 s#(t a""ro"r!at
s(ur!t!s to t, +u%d. T, +or(ast!%& o+ t, $ar8t !s do% ++(t!:#0.
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9
? DIVERSIFICATION*
Mutua# Fu%d !%:sts !% a d!:rs ra%& o+ s(ur!t!s a%d o:r $a%0 !%dustr!s.
H%(1 a## t, &&s ar %ot "#a0d !% o% *as8t. Nor$a##0 a% !%:stor ,as to ,a: #ar& su$" o+
$o%0 to a(,!: t,!s o*=(t!:. I+ , !%:sts d!r(t#0 !% t, sto(8 $ar8t. T,rou&, Mutua# Fu%d1
, (a% a(,!: d!:rs!+!(at!o% o+ "ort+o#!o at a +ra(t!o% at o+ t, (ost.
? CONVINIENT ADMINISTRATION*
For t, !%:stors t,r !s rdu(t!o% !% "a"r .or8 a%d sa:!%& !% t!$. It !s a#so :r0
(o%:%!%t. Mutua# Fu%d ,#"s !% o:r(o$!%& t, "ro*#$s r#at!%& to *ad d#!:r!s d#a0d
"a0$%ts a%d t, #!8.
? RETURN POTENTIAL*
Md!u$ a%d t, #o%& tr$ Mutua# Fu%d ,a: t, "ot%t!a# to "ro:!d ,!&, rtur%.
? LOW COST*
T, +u%ds ,a%d# t, !%:st$%ts o+ a #ar& %u$*r o+ "o"#O t,0 ar !% a "os!t!o%
to "ass o% r#at!:#0 #o. *ro8ra& a%d ot,r (osts. T,!s !s *(aus t, +u%ds (a% ta8 ad:a%ta& o+
t, (o%o$!(s o+ s(a#.
? LIGUIDITY*
MUTUAL Fu%d "ro:!ds #!-u!d!t0 !% t.o .a0s. I% o"% D%dd s(,$s1 t,
!%:stors (a% &t *a(8 t,!s $o%0 at a%0 t!$ *0 s##!%& *a(8 t, u%!ts to t, +u%d at NAV r#atd
"r!(s. I% (#osd D %dd s(,$s +u%d1 , ,as t, o"t!o% to s## t, u%!ts t,rou&, t, sto(8
<(,a%&.
? FLEXI(ILITY*
Curr%t#0 $ost +u%ds ,a: r&u#ar !%:st$%t "#a%s1 r&u#ar .!t,dra.a# "#a%s a%d
d!:!dd r!%:st$%t s(,$s. A &rat da# o+ +#<!*!#!t0 !s assurd !% t, "ro(ss.
? CHOICE OF SCHEME*
Mutua# Fu%d o++rs a :ar!t0 o+ s(,$s to su!t :ar0!%& %ds o+ t, !%:stors.
? WELL REGULATED*
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9
T, +u%ds ar r&!strd .!t, t, s(ur!t!s a%d <(,a%& o+ *oard !% I%d!a a%d t,!r
o"rat!o%s ar (o%t!%uous#0 $o%!tord.
? TRANSPARANCY*
Mutua# Fu%ds "ro:!d !%+or$at!o% o% a(, s(,$ a*out t, s"(!+!( !%:st$%ts
$ad t,r u%dr a%d so o%.
SELECTION OF A FUND
? O9Ce7tve o# t"e #$n'*
T, Fu%d .,t,r !%(o$ or!%td or &ro.t, or!%td. Co%s!st%(0 o+ "r+or$a%(2
a $utua# +u%d !s a#.a0s !%t%dd to &!: stad0 #o%& tr$ rtur%sO ,%( t, !%:stors s,ou#d
$asur t, "r+or$a%( o+ a +u%d o:r a "r!od o+ at #ast t,r 0ars.
? Hstor7%& 9%7>;ro$n'*
T, su((ss o+ a%0 +u%d d"%ds u"o% t, (o$"t%( o+ t, $a%a&$%t1 !ts
!%t&r!t01 "r!od!(!t0 a%d <"r!%(.
? Cost o# O<er%ton*
Mutua# +u%ds s8 to do a *ttr =o* o+ t, !%:st!*# +u%ds at a #o.r (ost t, ,
!%:st!*# +u%d at #o.r (ost. T, !%:stors (o$"ar .!t, t,!r +u%ds .!t, ot,rs.
? C%<%7t- o# nnov%ton*
So$ (o$"a%!sM !%trodu(d !%%o:at!o% s(,$s to $t t, d!:rs %ds o+
!%:stors. I%:stors .!## #oo8 +or +u%ds .,!(, ar (a"a*# o+ !%trodu(!%& !%%o:at!o% !% t, +!%a%(!a#
$ar8t.
? Investor serv7n;*
T, $ost !$"orta%t +a(tor !s "ro$"t a%d ++!(!%t sr:!(!%&. Sr:!( #!8 -u!(8
rs"o%s to !%:stors -ur!s1 "ro$"t d!s"at(, o+ u%!t (rt!+!(ats1 -u!(8 tra%s+r o+ u%!ts t(.1
FACILITIES AVAILA(LE TO INVESTORS
? R "ur(,as +a(!#!t!s
? R!ssu +a(!#!t!s
? Ro## o:r +a(!#!t!s
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9
? Latra# s,!+t!%& +a(!#!t!s
Ta< D Sa:!%& Fu%ds2
S(t!o% C3( ,as (o$ as a *oo% to !%:stors .,o ,a: a% a""t!t +or r!s8.U%t!# t,
"r:!ous 0ar1 !%:st$%t !% ta< D sa:!%& +u%ds 'ot,r.!s 8%o.% as E-u!t0 L!%8d Sa:!%&s
S(,$s) +or t, "ur"os o+ a:a!#!%& a ta< *%+!t .as rstr!(td to Rs A3333 P.A I% t, (urr%t
0ar a## su(, rstr!(t!o%s ,a: *% do% a.a0 .!t,O a% !%d!:!dua# assss %o. ,as t, +#<!*!#!t0
to !%:st t, Rs A33333 t,at !s a##o.d u%(r s(t!o% C3@( !% a%0 "ro"ort!o% t,at , .!s,s 'o%#0 !%
PPF !s t,r a% u""r #!$!t o+ Rs E3333 "a) !% s"(!+!d !%stru$%ts. Natura##01 t,os .!t, a r!s8
a""t!t s,ou#d * #oo8!%& at !%(ras t,!r <"osur to ta<Bsa:!%& +u%ds.
>ut %o. Ta< >%+!t .!## &t u" to Rs A1331333 .T,s #ad!%& ta<Bsa:!%& +u%ds as o% A7BAAB6335.
Ta< sa:!%& +u%ds ar s!$"#0 -u!t0 +u%ds t,at ,a: $a%dator0 #o(8B!% o+ t,r 0ars. T,
#o(8B!% !s o% o+ t, 80 str%&t,s o+ su(, +u%dsO !t a##o.s t, +u%d $a%a&r to !%:st +or t,
#o%&tr$ a%d a#so sa:s ,!$ +ro$ t, "rssurs o+ $a%a&!%& +u%d !%+#o.s a%d out+#o.s o% a da0B
toBda0 *as!s. I% (as o+ ta<Bsa:!%&s +u%ds1 t, +u%d out+#o.s ar 8%o.% r#at!:#0 .## !% ad:a%(
a%d t,r+or (a% * "#a%%d +or.
>+or . d#: +urt,r !%to u%drsta%d!%& .,0 ta<Bsa:!%& +u%ds s,ou#d * (o%s!drd +or
0our "ort+o#!o1#t us +!rst u%drsta%d r!s8s asso(!atd .!t, t,$.
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9
RISK FACTORS IN MUTUAL FUND
Iust #!8 !% a%0 ot,r !%:st$%t1 Mutua# Fu%d !%:st$%t a#so (arr0 (rta!% r!s8s1 t, r!s8s !%
"art!(u#ar s(,$ o+ a $utua# +u%d !s a *as!(a##0 a +u%(t!o% o+ +!: +a(tor.
? M%r>et Rs>*
I% &%ra##01 t,r ar (rta!% r!s8s asso(!atd .!t, :r0 8!%d o+ !%:st$%ts o+
s,ars. T,0 ar (a##d $ar8t r!s8s. T, $ar8t r!s8s (a% * rdu(d. >ut (a%%ot *
(o$"#t#0 #!$!%atd :% *0 &ood !%:st$%t $a%a&$%t. T, "r!(s o+ s,ars ar
su*=(td to .!d "r!( +#u(tuat!o%s d"%d!%& u"o% $ar8t (o%d!t!o%s. E&1 (0(# D *oo$ ?
s#u$" a%d r(o:r0.
? S7"e=e Rs>s*
T,r ar (rta!% r!s8s !%,r%t !% t, s(,$ !ts#+. T a## d"%ds u"o% t, %atur
o+ t, s(,$. For !%sta%(1 !% a "ur &ro.t, s(,$1 r!s8s ar &ratr. It !s o*:!ous *(aus !+
o% <"(ts $or rtur%s a% !% t, (as o+ a &ro.t, s(,$1 o% ,as to ta8 $or r!s8s.
? Invest=ent Rs>s*
F,t,r t, Mutua# Fu%d $a8s $o%0 !% s,ars or #oss d"%ds u"o% t,
!%:st$%t <"rt!s o+ t, Asst $a%a&$%t Co$"a%0 'AMC). I+ t, !%:st$%t ad:!( &os
.ro%&1 t, +u%d ,as to su++r a #ot. T, !%:st$%t <"rt!ss o+ :ar!ous +u%ds ar d!++r%t a%d
!t !s r+#(td o% t, rtur%s .,!(, t,0 o++r to !%:stors.
? ($sness Rs>*
T, (or"us o+ a Mutua# Fu%d $!&,t ,a: *% !%:std !% (o$"a%0Ms s,ars. I+ t,
*us!%ss o+ t,at (o$"a%0 su++rs a%0 st *a(81 !t (a%%ot d(#ar a%0 d!:!d%d.
? Po&t7%& Rs>*
Su((ss!: Go:r%$%ts *r!%& .!t, t,$ +a%(0 %. (o%o$0 !do#o&!s a%d
"o#!(!s. It !s o+t% sa!d t,at $a%0 (o%o$0 d(!s!o%s ar "o#!t!(a##0 $ot!:atd. C,a%&d !%
Go:r%$%t *r!%& !% t, r!s8 o+ u%(rta!%t0 .,!(, :r0 "#a0r !% t, +!%a%(!a# sr:!( !%dustr0
,as to +a(. So Mutua# Fu%ds ar %o <("t!o% to !t.
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9
CHAPTER+8
COMPANY PROFILE
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9
ICICI Bank
ICICI (%n> !s I%d!aHs s(o%d #ar&st *a%8 a%d #ar&st "r!:at s(tor *a%8 .!t, assts o+ Rs.
695C.46 *!##!o% as o% D($*r 4A1 63A4. ICICI >a%8 "ro:!ds a *road s"(tru$ o+ +!%a%(!a#
sr:!(s to !%d!:!dua#s a%d (o$"a%!s. T,!s !%(#uds $ort&a&s1 (ar a%d "rso%a# #oa%s1 (rd!t a%d
d*!t (ards1 (or"orat a%d a&r!(u#tura# +!%a%(. T, >a%8 sr:!(s a &ro.!%& (usto$r *as t,rou&,
a $u#t!B(,a%%# a((ss %t.or8 .,!(, !%(#uds o:r 695 *ra%(,s a%d <t%s!o% (ou%trs1 435A
ATMs1 (a## (%trs a%d I%tr%t *a%8!%&.
Pr$'ent%&PLC
Esta*#!s,d !% Lo%do% !% AC7C1 Prud%t!a# "#(1 t,rou&, !ts *us!%sss !% t, U/ a%d Euro"1 t,
US a%d As!a1 "ro:!ds rta!# +!%a%(!a# sr:!(s "rodu(ts a%d sr:!(s to $or t,a% 6A $!##!o%
(usto$rs1 "o#!(0,o#dr a%d u%!t ,o#drs .or#d.!d. Toda01 Prud%t!a# ,as $!##!o%s o+ (usto$rs
.or#d.!d a%d o:r X64C *!##!o% 'as o+ 43 Iu% 63A6) o+ +u%ds u%dr $a%a&$%t. I% As!a1
Prud%t!a# !s t, #ad!%& Euro"a% #!+ !%sura%( (o$"a%0 .!t, a :ast %t.or8 o+ #!+ a%d +u%d
$a%a&$%t o"rat!o%s !% t,!rt% (ou%tr!s B C,!%a1 Ho%& /o%&1 I%d!a1 I%do%s!a1 Ia"a%1 /ora1
Ma#a0s!a1 t, P,!#!""!%s1 S!%&a"or1 Ta!.a%1 T,a!#a%d1 V!t%a$ a%d U%!td Ara* E$!rats
T, ICICI Prud%t!a# d& (o$s +ro$ our (o$$!t$%t to our (usto$rs1 !% a## t,at . do B * !t
"rodu(t d:#o"$%t1 d!str!*ut!o%1 t, sa#s "ro(ss or sr:!(!%&. HrHs a "8 !%to .,at $a8s us
#adrs.
A. Our "rodu(ts ,a: *% d:#o"d a+tr a (#ar a%d t,orou&, u%drsta%d!%& o+ (usto$rsH %ds.
It !s t,!s rsar(, t,at ,#"s us d:#o" Edu(at!o% "#a%s t,at o++r t, !da# .a0 to tru#0 &uara%t
6
9
0our (,!#dHs du(at!o%1 Rt!r$%t so#ut!o%s t,at ar a ,d& a&a!%st !%+#at!o% a%d 0t "ro$!s a
+!<d !%(o$ a+tr 0ou rt!r1 or Ha#t, !%sura%( t,at ar$s 0ou .!t, t, +u%ds 0ou $!&,t %d to
r(o:r +ro$ a dradd d!sas.
6. Ha:!%& t, r!&,t "rodu(ts !s t, +!rst st"1 *ut !tHs -ua##0 !$"orta%t to %sur t,at our (usto$rs
(a% a((ss t,$ as!#0 a%d -u!(8#0. To t,!s %d1 ICICI Prud%t!a# ,as a% ad:!sor *as a(ross t,
#%&t, a%d *radt, o+ t, (ou%tr01 a%d a#so "art%rs .!t, #ad!%& *a%8s1 (or"orat a&%ts a%d
*ro8rs to d!str!*ut our "rodu(ts
4. Ro*ust r!s8 $a%a&$%t a%d u%dr.r!t!%& "ra(t!(s +or$ t, (or o+ our *us!%ss. F!t, (#ar
&u!d#!%s !% "#a(1 . %sur -u!ta*# (ost!%& o+ r!s8s1 a%d t,r*0 %sur a s$oot, a%d ,ass#B
+r (#a!$s "ro(ss.
7. E%trustd .!t, ,#"!%& our (usto$rs $t t,!r #o%&Btr$ &oa#s1 . ado"t a% !%:st$%t
",!#oso",0 t,at a!$s to a(,!: r!s8 ad=ustd rtur%s o:r t, #o%&Btr$.
5. Last *ut d+!%!t#0 %ot t, #ast1 our A51333 "#us stro%& ta$ !s &!:% t, o""ortu%!t0 to #ar% a%d
&ro.1 :r0 da0 !% a $u#t!tud o+ .a0s. F *#!: t,!s 8"s t,$ %&a&d a%d %t,us!ast!(1 so
t,at t,0 (a% d#!:r o% our "ro$!s to (o:r 0ou1 at :r0 st" !% #!+.
I%d!aHs Nu$*r O% "r!:at #!+ !%surr1 ICICI Prud%t!a# L!+ I%sura%( Co$"a%0 !s a =o!%t
:%tur *t.% ICICI >a%8Bo% o+ I%d!aHs +or$ost +!%a%(!a# sr:!(s (o$"a%!sBa%d Prud%t!a#
"#(B a #ad!%& !%tr%at!o%a# +!%a%(!a# sr:!(s &rou" ,ad-uartrd !% t, U%!td /!%&do$. Tota#
(a"!ta# !%+us!o% sta%ds at Rs. AC.A5 *!##!o%1 .!t, ICICI >a%8 ,o#d!%& a sta8 o+ E7U a%d Prud%t!a#
"#( ,o#d!%& 66U.
F *&a% our o"rat!o%s !% D($*r 6333 a+tr r(!:!%& a""ro:a# +ro$ I%sura%(
R&u#ator0 D:#o"$%t Aut,or!t0 'IRDA). Toda01 our %at!o%B.!d ta$ (o$"r!ss1 a*out 533
o++!(s1 o:r 6331333 ad:!sorsO a%d 66 >a%8 assura%( "art%rs.
ICICI Prud%t!a# .as t, +!rst #!+ !%surr !% I%d!a to r(!: a Nat!o%a# I%surr F!%a%(!a#
Str%&t, rat!%& o+ AAA 'I%d) +ro$ F!t(, rat!%&s. For t,r 0ars !% a ro.1 ICICI Prud%t!a# ,as
*% Kotd as I%d!aHs Most Trustd Pr!:at L!+ I%surr1 *0 T, E(o%o$!( T!$s B AC N!#s%
ORG Mar& sur:0 o+ HMost Trustd >ra%dsH. As . &ro. our d!str!*ut!o%1 "rodu(t ra%& a%d
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(usto$r *as1 . (o%t!%u to t!r#ss#0 u",o#d our (o$$!t$%t to d#!:r .or#dB(#ass +!%a%(!a#
so#ut!o%s to (usto$rs a## o:r I
THE Co=<%n-
ICICI Prud%t!a# L!+ I%sura%( Co$"a%0 !s a =o!%t :%tur *t.% ICICI >a%81 a "r$!r
+!%a%(!a# "o.r,ous1 a%d Prud%t!a# "#(1 a #ad!%& !%tr%at!o%a# +!%a%(!a# sr:!(s &rou"
,ad-uartrd !% t, U%!td /!%&do$. ICICI Prud%t!a# .as a$o%&st t, +!rst "r!:at s(tor
!%sura%( (o$"a%!s to *&!% o"rat!o%s !% D($*r 6333 a+tr r(!:!%& a""ro:a# +ro$
I%sura%( R&u#ator0 D:#o"$%t Aut,or!t0 'IRDA).
ICICI Prud%t!a#Hs (a"!ta# sta%ds at Rs. AC.A5 *!##!o% .!t, ICICI >a%8 a%d Prud%t!a# "#( ,o#d!%&
E7U a%d 66U sta8 rs"(t!:#0. For t, A3 $o%t,s %dd Ia%uar0 4A1 63A61 t, (o$"a%0
&ar%rd Rs 41673 (ror o+ .!&,td rta!# V &rou" %. *us!%ss "r$!u$s a%d .rot o:r A.4
$!##!o% "o#!(!s. T, (o$"a%0 ,as assts ,#d to t, tu% o+ o:r Rs. A71333 (ror.
ICICI Prud%t!a# !s a#so t, o%#0 "r!:at #!+ !%surr !% I%d!a to r(!: a Nat!o%a# I%surr F!%a%(!a#
Str%&t, rat!%& o+ AAA 'I%d) +ro$ F!t(, rat!%&s. T, AAA 'I%d) rat!%& !s t, ,!&,st rat!%&1 a%d !s
a (#ar assura%( o+ ICICI Prud%t!a#Hs a*!#!t0 to $t !ts o*#!&at!o%s to (usto$rs at t, t!$ o+
$atur!t0 or (#a!$s.
For t, "ast s!< 0ars1 ICICI Prud%t!a# ,as rta!%d !ts "os!t!o% as t, No. A "r!:at #!+ !%surr !%
t, (ou%tr01 .!t, a .!d ra%& o+ +#<!*# "rodu(ts t,at $t t, %ds o+ t, I%d!a% (usto$r at
:r0 st" !% #!+. To 8%o. $or a*out t, (o$"a%01 "#as :!s!t ....!(!(!"ru#!+.(o$.
Dstr9$ton
ICICI Prud%t!a# ,as o% o+ t, #ar&st d!str!*ut!o% %t.or8s a$o%&st "r!:at #!+ !%surrs !% I%d!a.
As o+ Ia%uar0 4A1 63A4 t, (o$"a%0 ,as o:r 573 o++!(s a(ross t, (ou%tr0 a%d o:r 6331333
ad:!sors.
T, (o$"a%0 ,as o:r 63 *a%(assur%a( "art%rs1 ,a:!%& t!Bu"s .!t, ICICI >a%81 Fdra# >a%81
Sout, I%d!a% >a%81 >a%8 o+ I%d!a1 Lord /r!s,%a >a%81 Idu88! D!str!(t CoBo"rat!: >a%81 Ia#&ao%
Po"#s CoBo"rat!: >a%81 S,a$rao V!t,a# CoBo" >a%81 Er%a8u#a$ >a%8 a%d 9 >a%8 o+ I%d!a
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9
s"o%sord R&!o%a# Rura# >a%8s 'RR>s). It ,as a#so t!d u" .!t, NGOs MFIs a%d (or"orats +or
t, d!str!*ut!o% o+ rura# "o#!(!s.
(o%r' o# Dre7tors
Ms.S">"%S"%r=%@Ma%a&!%&D!r(tor?CEO
Mr.N.SK%nn%n@E<(ut!!r(tor
Mr.("%r;%vD%s;$<t%@E<(ut!!r(tor
Ms.Ant%P%@EVPBCusto$rSr:!(?T(,%o#o&0
Mr.AH=Mt"%n@C,!+A(tuar0
Mr.P$neetN%n'%@C,!+I%:st$%tsO++!(r
Mr. (n%-%> D$tt%@ C,!+ D Sa#s a%d d!str!*ut!o%
P$neet N%n'%* C"e# Invest=ent O##7er
M%ns" K$=%r* He%' .EA$t-
L%>s"=>%nt" Re''-* VP+Invest=ents
)ten'r% Aror%* AVP+Invest=ents
Ar$n Srnv%s%n* AVP+F?e' In7o=e
Prud%t!a# ICICI AMC ,as $r&d as t, #ar&st I%d!a% $utua# +u%d ,a:!%& r(ordd assts
u%dr $a%a&$%t 'AUM) o+ Rs. 7416C3.6E (rors1 as "r +!&urs r#asd *0 t, Asso(!at!o% o+
Mutua# Fu%ds o+ I%d!a 'AMFI) +or t, $o%t, %dd F*ruar0 633E. PruICICI ,as addd Rs. C1545
(rors dur!%& t, $o%t, o+ F*ruar0 to a(,!: t,!s $!#sto%.

Co$$%t!%& o% t, o((as!o%1 Mr. Pa%8a= RaKda%1 Ma%a&!%& D!r(tor1 Prud%t!a# ICICI AMC sa!d1
9F ar (o$$!ttd to d#!:r (usto$r out(o$s a%d .!## (o%t!%u to o++r our !%:stors -ua#!t0
sr:!(1 !%%o:at!: !%:st$%t so#ut!o%s1 (o%:%!%( !% tra%sa(t!o% a%d (o%s!st%(0 !% "rodu(t
6
9
"r+or$a%(. Mor t,a% "os!t!o%1 !t !s our (o%s!st%t a%d susta!%d ++orts to o++r our (usto$rs a%
o:ra## <"r!%(1 8"!%& !% $!%d t, r&u#ator0 +ra$.or8. ;

Start!%& .!t, a% AUM *as o+ Rs. A63 (rors !% Ma0A99C1 Prud%t!a# ICICI ,as su((ss+u##0
$a%a&d to &ro. !ts assts *0 o:r 633 t!$s to Rs. 7416C3.6E (ror 'as o% F* 6C1 63A4). Ha:!%&
startd .!t, 6 s(,$s !% A99C1 t, (o$"a%0 (urr%t#0 ,as o:r 43 s(,$s !% !ts "rodu(t
"ort+o#!o. I% ordr to addrss t, !ssu o+ "%trat!o% a%d to o++r (usto$r (o%:%!%(1 t,
(o$"a%0 ,as <"a%dd !ts %t.or8 +ro$ a "rs%( !% $r#0 6 (!t!s to $or t,a% C3 (!t!s a(ross
I%d!a.

T, +o##o.!%& ta*# d"!(ts Prud%t!a# ICICI AMCMs AUM &ro.t, o:r t, 0ars.

Dat Cor"us'Rs. (rors)
6C.36.63A
4
746CA
4A.A6.63A
6
44435
4A.A6.63A
A
6A996
4A.A6.63A
3
AEAAA
4A.A6.633
9
A6A7E
4A.A6.633
C
A354C
4A.A6.633
E
E5A4
4A.A6.633
6
7C44
4A.A6.633
5
4AE5
4A.A6.633
7
467
I%("t!o%
'A99C)
A63
6
9
Pr$'ent%& ICICI MF s no! ICICI
Pr$'ent%& MF
Prud%t!a# ICICI Mutua# Fu%d1 (,a%&d !ts %a$ to ICICI Prud%t!a# Mutua# Fu%d .!t, ++(t +ro$
A"r. 61 63A4.
T, +u%d (,a%&d !ts %a$1 o.!%& to t, (,a%& !% t, s,ar,o#d!%& "attr% o+ ICICI >a%8 a%d
Prud%t!a# P#( '++(td !% Au&ust 63AA)1 !% t, Asst Ma%a&$%t Co$"a%0 'AMC)1 a%d t,
Trust Co$"a%0.
T, %a$s o+ t, AMC a%d t, Trust Co$"a%01 ,a: *% (,a%&d to ICICI Prud%t!a# Asst
Ma%a&$%t Co$"a%0 a%d ICICI Prud%t!a# Trust rs"(t!:#0.
I% s0%( .!t, t, a*o: (,a%&s1 %a$s o+ !ts %t!r s(,$s u%dr.%t (,a%&s.
I% Mar(, A99C1 Prud%t!a# P#( o+ U/ a(-u!rd 55U sta8 !% t, rst.,!# ICICI Asst
Ma%a&$%t Co$"a%0 su*s-u%t to .,!(,1 !t .as r%a$d as Prud%t!a# ICICI Asst
Ma%a&$%t Co$"a%0. T, r$a!%!%& 75U s,ar .r .!t, ICICI Grou".
Ho.:r1 I% Au&ust 63AA1 6U o+ Prud%t!a# P#(Ys ,o#d!%& !% t, AMC .as tra%s+rrd to ICICI
>a%8. F!t, t,!s tra%s+r t, tota# ,o#d!%& o+ ICICI *a%8 !%(rasd to 5AU1 du to .,!(, t, +u%d
,as %o. (,a%&d !ts %a$. T,r !s %o (,a%& !% t, *oard.
De#nton*
SE>I 'MFs) R&u#at!o% A9941 d+!%s Mutua# Fu%d as +o##o.sO
6
9
Mutua# +u%d $a%s a +u%d sta*#!s,d !% t, +or$ o+ a trust *0 a s"o%sor to ra!s $o%0 *0 t,
Trusts t,rou&, t, sa# o+ u%!ts to t, "u*#!( u%dr o% or $or s(,$s +or !%:st!%& !%
S(ur!t!s !% a((orda%( .!t, t,s R&u#at!o%s.
A $utua# +u%d !s a s"(!a# t0" o+ (o$"a%0 t,at "oo#s to&t,r $o%0 +ro$ $a%0 !%:stors
a%d !%:sts !t o% *,a#+ o+ t, &rou"1 !% a((orda%( .!t, a statd st o+ o*=(t!:s. Mutua# +u%ds
ra!s t, $o%0 *0 s##!%& s,ars o+ tr, +u%d to t, "u*#!(1 $u(, #!8 a%0 ot,r (o$"a%0 (a% s##
sto(8 !% !ts#+ to t, "u*#!(. Fu%ds t,% ta8 t, $o%0 t,0 r(!: +ro$ t, sa#s o+ t,!r s,ars
'a#o%& .!t, a%0 $o%0 +ro$ "r:!ous !%:st$%ts) a%d us !t to "ur(,as :ar!ous !%:st$%ts
:,!(#s1 su(, as sto(8s1 *o%ds a%d $o%0 $ar8t !%stru$%ts. I% rtur% +or t, $o%0 t,0 &!:
to t, +u%d a%d1 !% ++(t1 !% a(, o+ !ts u%dr#0!%& s(ur!t!s. For $ost $utua# +u%ds1 s,ar,o#drs
ar +r to s## t,!r s,ar at a%0t!$1 a#t,ou&, t, "r!( o+ a s,ar !% a $utua# +u%d .!## +#u(tuat
da!#01 d"%d!%& u"o% t, "r+or$a%( o+ t, s(ur!t!s ,#d *0 t, +u%d.
Mutua# +u%d u%!ts ar !%:st$%t :,!(#s t,at "ro:!d a $a%s. A #ar& %u$*r o+
!%:stors "oo# t,!r $o%0 !% ordr to o*ta!% a s"rad o+ "ro+ss!o%a##0 $a%a&d Sto(8 E<(,a%&
!%:st$%ts t,at t,0 (a%%ot o*ta!% !%d!:!dua##0. A((ord!%& to Fsto% I.Frd a%d >r!d&,a$1
Eu&%1 F.1 U%!t Trusts ar 9Cor"orat!o%s .,!(, a(("t do##ars +ro$ sa:rs a%d t,% us t,s
do##ars to *u0 sto(81 #o%& tr$ *o%ds1 s,ort tr$ d*t !%stru$%ts !ssud *0 *us!%ss o+
&o:r%$%t u%!tsO t,s (or"orat!o%s "oo# +u%ds a%d t,us rdu( r!s8 *0 d!:rs!+!(at!o%.

CHAPTER+2
6
9
DATA ANALYSIS

AND

INTERPRETATION
Lad!%& Ta<BSa:!%& +u%ds
Ta<BSa:!%& Fu%ds NAV
'CrMs)
AB0r
'U)
4B0r
'U)
5B0r
'U)
Std
D:
'U)
S,ar"
Rat!o
'U)
MAGNUM TAX GAIN
76.9C AA6.C 9A.E 69.5 C.CA 3.5C
HDFC TAX SAVER 'G) A33.6 96.6 E9.9 76.6 C.3E 3.54
PRU ICICI TAX PLAN 'G) 66.C9 E6.C EC.5 73.4 9.CE 3.49
HDFC LT ADVANTAGE 'G) 6E.5E 6A.6 E5.3 B E.CA 3.7E
>IRLA EZUITY PLAN 75.76 5C.9 E6.3 69.4 E.95 3.4C
TATA TAX SAVING 4A.57 54.A E6.4 43.7 E.6A 3.45
SUNDARAM TAX SAVER AE.97 59.9 64.5 4A.5 C.55 3.49
6
9
FRAN/LIN INDIA TAX
SHIELD'G)
CC.67 53.3 5C.4 6C.3 6.EE 3.76
Inter<ret%ton*
MAGNUM TAX GAIN ,as NAV o+ Rs. 76.9C (rs. It ,as sta%dard d:!at!o% C.CAU *0
us!%& s,ar" rat!o !t ,as 3.5CU.
HDFC TAX SAVER ,as NAV o+ Rs. A33.6 (rs. It ,as sta%dard d:!at!o% C.3EU *0 us!%&
s,ar" rat!o !t ,as 3.54U.
PRU ICICI TAX PLAN ,as NAV o+ Rs. 66.C9U (rs. It ,as sta%dard d:!at!o% 9.CEU *0
us!%& s,ar" rat!o !t ,as 3.49U.
HDFC LT ADVANTAGE ,as NAV o+ Rs. 6E.5EU (rs. It ,as sta%dard d:!at!o% E.CAU *0
us!%& s,ar" rat!o !t ,as 3.7EU.
>IRLA EZUITY PLAN ,as NAV o+ Rs. 75.76U (rs. It ,as sta%dard d:!at!o% E.95U *0
us!%& s,ar" rat!o !t ,as 3.4CU.
TATA TAX SAVING ,as NAV o+ Rs. 4A.57U (rs. It ,as sta%dard d:!at!o% E.6AU *0
us!%& s,ar" rat!o !t ,as 3.45U.
SUNDARAM TAX SAVER ,as NAV o+ Rs. AE.97U (rs. It ,as sta%dard d:!at!o% C.55U
*0 us!%& s,ar" rat!o !t ,as 3.49U.
FRAN/LIN INDIA TAX SHIELD ,as NAV o+ Rs. CC.67U (rs. It ,as sta%dard d:!at!o%
6.EEU *0 us!%& s,ar" rat!o !t ,as 3.76U.
Pr$ ICICI T%? P&%n
Sn%<s"ot*
F$n' M%n%;ers * Sa%8ara% Nar%
In'7%tve Invest=ent HorHon* 4 0rs ? $or
In7e<ton '%te* A9B3CBA999
F$n' SHe* Rs. 676.9E (rors
NAV 5As on 8/+)%n$%r-+/86*
Gro!t" o<ton* Rs. E6.6E
Dv'en' o<ton* Rs. 69.A4
? NAV 5As on :I+A<r&+//6*
? Gro!t" o<ton* Rs. CA.CC
6
9
JJE?<ense R%to #or t"e =ont" o# )%nK:1* 6.46U
[[T,!s !s a (#os a""ro<!$at!o% o+ t, %u$*r.
Gro!t" O<ton*
Se7tor A&&o7%ton*
Port#o&o*+
6
9
Co=<%n- E Iss$er
M%r>et V%&$e
5 Rs L%>"6
L to
NAV
A$to 8,I.42 /.82L
Hro Ho%da L!$!td 465.E7 A.47U
A$to An7&&%res 8:/1.0, /,.2,L
J Su%dara$ C#a0to% L!$!td 976.C5 4.93U
J E<!d I%dustr!s L!$!td ECE.6E 4.67U
Su%dara$ >ra8 L!%!%&s Ltd 6C4.AE A.AEU
/sora$ I%dustr!s L!$!td 666.CC A.3CU
Ra% Madras L!$!td 653.E4 A.34U
Ra% Ho#d!%&s L!$!td 653.46 A.34U
Ra% >ra8 L!%!%&s Ltd 645.E3 3.9EU
(%n>s 410.2I 8./4L
Cor"orat!o% >a%8 4E7.36 A.57U
Pu%=a* Nat!o%a# >a%8 6E9.6A A.A5U
>a%8 o+ >aroda AA6.AC 3.7CU
Ce=ent /848.,/ I.1IL
J C%tur0 T<t!#s ? I%dustr!s Ltd 9E6.96 7.33U
Or!%t Pa"r ? I%dustr!s L!$!td 657.C6 A.35U
Po8ar%a Ltd A75.49 3.63U
C"e=7%&s /214.42 1.:2L
A%d,ra Su&ars Ltd E66.A3 6.9EU
I%d!a G#0(o#s L!$!td 447.E6 A.4CU
Na:!% F#our!% I%tr%at!o%a# Ltd 667.46 A.39U
U#tra$ar!% ? P!&$%ts Ltd. A76.56 3.63U
Cons$=er Non+D$r%9&e ,:/8.02 3.,0L
J Ma.a%a Su&ars Ltd C53.56 4.53U
P!d!#!t I%dustr!s L!$!td 5E5.43 6.4EU
Godr= Co%su$rs 7E7.79 A.95U
Harr!so%s Ma#a0a#a$ L!$!td 9C.65 3.7AU
U%!td >r.r!s Ltd A7.97 3.36U
Ferro$s Met%&s 20.02 :.,/L
Ta0o Ro##s Ltd 79.97 3.6AU
Fert&Hers ,:,8.82 3.88L
J DCM S,r!ra$ Co%so#!datd L!$!td C76.A6 4.7EU
Gu=arat Stat Frt ? C,$ L!$!td E67.A4 6.9CU
Puar! I%dustr!s L!$!td 75E.39 A.CCU
Fn%n7e /0.:4 :.:3L
R#!a%( Ca"!ta# V%turs Ltd A9.3E 3.3CU
Co=<%n- E Iss$er
M%r>et V%&$e
5 Rs L%>"6
L to
NAV
H%r'!%re 2,0.2/ /.44L
HCL I%+os0st$s Ltd 769.7A A.EEU
6
9
Hote&s 231.0: ,.::L
Ta= G:8 Hot#s ? Rsorts Ltd 43A.56 A.67U
Or!%ta# Hot#s L!$!td AC5.47 3.E6U
In'$str%& C%<t%& Goo's /://.2, 2./1L
A*a% L#o0d C,!#s O++s,or L!$!td E59.36 4.A6U
Nu$r!( Po.r S0st$s Ltd 656.46 A.37U
In'$str%& Pro'$7ts /,:,.22 2.0IL
Po#0"#< Cor"orat!o% L!$!td 457.EC A.76U
M M For&!%&s L!$!td 476.67 A.7AU
Su"r$ I%dustr!s L!$!td 66A.6C A.3CU
Esa* I%d!a L!$!td 674.47 A.33U
Mner%&sEMnn; ,:3.I2 :.31L
Gu=arat M!%ra# D:#o"$%t Cor"orat!o%
Ltd 63C.57 3.C6U
Non+Ferro$s Met%&s //:2.3: 2.IIL
J Nat!o%a# A#u$!%!u$ Co$"a%0 L!$!td AA37.C3 7.55U
O& //:.,8 :.2IL
H!%dusta% O!# E<"#orat!o% Ltd A36.66 3.77U
R#!a%( Natura# Rsour(s Ltd 4.9E 3.36U
Petro&e$= Pro'$7ts I14.:/ ,.88L
R#!a%( I%dustr!s L!$!td 56E.3A 6.44U
P"%r=%7e$t7%&s 8,03.21 /8.I3L
J Su% P,ar$a(ut!(a#s L!$!td A456.79 5.5CU
J FDC L!$!td A366.6E 7.4EU
J Cad!#a Ha#t,(ar L!$!td C3E.9A 4.44U
Fu#+ord I%d!a L!$!td EA.49 3.69U
Po!er /:4.11 :.22L
Gu=arat I%dustr!s Po.r Co L!$!td 69.EE 3.69U
R#!a%( E%r&0 V%turs Ltd 4E.C9 3.A6U
So#t!%re 323.,/ 8.20L
Su*< S0st$s L!$!td 5E3.3A 6.45U
/PIT I%+os0st$s 6EC.63 A.A7U
Te&e7o= Serv7es /,0.84 :.I8L
R#!a%( Co$$u%!(at!o%s V%turs Ltd A69.4E 3.54U
Te?t&es + Cotton 03/.,, 2.:2L
Pr(ot M!##s Ltd E67.73 6.9CU
Mara# O:rsas L!$!td 656.C6 A.36U
Te?t&es + Pro'$7ts 3:3.04 8.88L
Co=<%n- E Iss$er
M%r>et V%&$e
5 Rs L%>"6
L to
NAV
Ra0$o%d L!$!td 696.9A 6.C5U
/. G. D%!$ L!$!td AA6.65 3.76U
N!t!% S"!%%rs Ltd 4.CA 3.36U
Te?t&es + S-nt"et7 3,3.8: 8.2/L
6
9
J SRF L!$!td C6C.43 4.7AU
C%s"@ C%&&@ C(LO M Reverse Re<o ,2I.:1 /.:/L
Ot"er C$rrent Assets 34:.:3 8.I3L
Tot%& Net Assets ,2,04.28 /::.::L
J To" T% Ho#d!%&s
G$%ntt%tve In'7%tors*
A:ra& P@E 2 A6.53
A:ra& P@>V 2 6.59
A:ra& D!:!d%d 0!#d 2 A.66
A%%ua# Port+o#!o Tur%o:r Rat!o 2 6.9E t!$s
Port+o#!o tur%o:r ,as *% (o$"utd as t, rat!o o+ t, ,!&,r :a#u o+ a:ra& "ur(,as
a%d a:ra& sa#s1 to t, a:ra& %t assts !% t, "ast o% 0ar 's!%( !%("t!o% +or s(,$s t,at
,a: %ot (o$"#td a 0ar). T, +!&urs ar %ot %ttd +or dr!:at!: tra%sa(t!o%s.
Rs In Crs
Assets "e&' %s on )%n 8/@ ,:/8 Rs /2@,44 Crs
E-u!t0 59U C17A3
D*t 7AU 51C6E
Tota# A33U A716EE

Assets "e&' 9- *

Ot,r t,a% L!%8d "o#!(0
,o#drs
617A7
L!%8d "o#!(0 ,o#drs AA1C64
A716EE
KOTAK ELSS
O<en . En'e' EA$t- Ln>e' S%vn; S7"e=es
A9o$t t"e S7"e=e*
6
9
A d!:rs!+!d -u!t0 s(,$ t,at !%:sts !% -u!t0 a%d -u!t0 r#atd s(ur!t!s a%d %a*#
!%:stors to a:a!# t, !%(o$ ta< r*at1 as "r$!ttd +ro$ t!$ to t!$. T, !%:st$%t strat&0 !s
to ,a: C3 D A33 U !% -u!t0 "ort!o% a%d 3 D 63U !% o% -u!t0 "ort!o%.
I'e%& Invest=ent HorHon* 4 0ars a%d a*o:.
Cor<$s* Rs.A36.E4 (rors
R%to* Port+o#!o P@E 2 6E.3E
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.AA.5C6
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.A4.E6
Se7tor A&&o7%ton*
Port#o&o*B
6
9
N%=e o# t"e Instr$=ent In'$str-E R%tn;
L to Net
Assets
EA$t- M EA$t- Re&%te' 5Lste'E A!%tn;
&stn;6
Ia!"ra8as, Asso(!ats Ltd Co%stru(t!o% 4.CC
Nat!o%a# A#u$!%!u$ Co$"a%0 Ltd No%BFrrous Mta#s 4.66
Ar:a T a%d D I%d!a Ltd. I%dustr!a# (a"!ta# Goods 4.66
T#:!s!o% E!&,t% I%d!a Ltd. Md!a ? E%trta!%$%t 4.5A
M(do.## ? Co$"a%0 Ltd. Co%su$r No% Dura*#s 4.7A
Pa%ta#oo% Rta!# '!%d!a) Ltd. Rta!#!%& 4.69
MRF L!$!td Auto A%(!##ar!s 6.C7
HDFC Ltd. F!%a%( 6.E5
I%+os0s T(,%o#o&!s Ltd. So+t.ar 6.E6
A#$*!( Ltd. P,ar$a(ut!(a#s 6.6E
A#+a La:a# 'I%d!a) Ltd I%dustr!a# (a"!ta# Goods 6.64
EID Parr0 'I%d!a) Ltd. Co%su$r No% Dura*#s 6.5C
A%d,ra Su&ars Ltd C,$!(a#s 6.5E
Ta=GV/ Hot#s ? Rsorts L!$!td Hot#s 6.56
Nst# I%d!a Ltd. Co%su$r No% Dura*#s 6.55
C%tur!o% >a%8 o+ Pu%=a* Ltd. >a%8s 6.7E
H!%da#(o I%dustr!s Ltd No%BFrrous Mta#s 6.6C
S/F I%d!a Ltd I%dustr!a# Produ(ts 6.6A
Pu%=a* Nat!o%a# >a%8 >a%8s 6.63
ICICI >a%8 Ltd. >a%8s 6.A5
Na&ar=u%a Co%stru(t!o% Co$"a%0 Ltd Co%stru(t!o% 6.A5
A$t8 Auto Ltd. Auto A%(!##ar!s 6.A6
>a=a= Auto Ltd. Auto 6.35
>r!ta%%!a I%dustr!s Ltd. Co%su$r No% Dura*#s A.99
Ra0$o%d L!$!td Produ(ts A.9A
A"o##o T0rs Ltd. Auto A%(!##ar!s A.C4
U&ar Su&ar For8s Ltd Co%su$r No% Dura*#s A.C4
Tata C,$!(a#s Ltd. Frt!#!srs A.E6
PVR Ltd. Md!a ? E%trta!%$%t A.EA
SREI I%+rastru(tur ? F!%a%( Ltd F!%a%( A.67
>,arat >!=# Ltd I%dustr!a# (a"!ta# Goods A.64
Na,ar I%dustr!a# E%tr"r!ss Ltd. T<t!#s B Cotto% A.6A
S!$%s Ltd. I%dustr!a# (a"!ta# Goods A.5C
>,arat! S,!"0ard Ltd. I%dustr!a# (a"!ta# Goods A.76
/PIT Cu$$!%s I%+os0st$s Ltd. So+t.ar A.76
HCL I%+os0st$s Ltd. Hard.ar A.4E
N%=e o# t"e Instr$=ent In'$str-E R%tn;
L to Net
Assets
C#*r!t0 Fas,!o%s Ltd. T<t!# Produ(ts A.6C
Mar!(o Ltd. Co%su$r No% Dura*#s A.67
6
9
D((a% C,ro%!(# Ho#d!%&s Ltd. Md!a ? E%trta!%$%t A.A5
I%do Gu#+ Frt!#!Kr Ltd. Frt!#!srs 3.99
I"(a La*orator!s Ltd. P,ar$a(ut!(a#s 3.C9
T<$a(o Ltd. I%dustr!a# (a"!ta# Goods 3.79
GV/ Po.r ? I%+rastru(tur Ltd. Po.r 3.AC
Sad*,a: E%&!%r!%& Ltd. Co%stru(t!o% 3.A6
Tot%& 0/.:8 0/.:8
Mone- M%r>et Instr$=ents
Co==er7%& P%<ersECert#7%te o# De<osts
Cor<or%te De9t E Fn%n7%& Instt$tons
C!t!+!%a%(!a# Co%su$r F!%a%( I%d!a Ltd. PAV 3.CE
Tot%& :.34
Co##atra# >orro.!%& ? L%d!%& O*#!&at!o% A.E5
Net C$rrent AssetsE5L%9&tes6 6.45
Gr%n' Tot%& A33.33
Prn7<%& T%? S%vn; F$n'
A% O"% D E%dd E-u!t0 L!%8d Sa:!%& S(,$s
FUND FEATURES
W"o s"o$&' nvest*
T"e S7"e=e s s$t%9&e #or nvestors see>n; n7o=e t%? 'e'$7ton
$n'er Se7ton 3:C 5,6 o# ITA %&on; !t" &on;+ter= eA$t-+=%r>et ret$rns #ro=
nvest=ent n eA$tes.
Invest=ent O9Ce7tve *
To "ro:!d #o%&Btr$ &ro.t, o+ (a"!ta#.
LA$'t-*
Sa# a%d R"ur(,as o% a (o%t!%uous *as!s1 su*=(t to #o(8B!% "r!od o+ 4 0ars.
Invest=ent O<tons* Gro.t,
T%? (ene#ts*
6
9
A% !%:st$%t *0 a% I%d!:!dua# or a H!%du U%d!:!dd Fa$!#0 !% t, ELSS s(,$ .!##
%t!t# t, !%:stor to a ddu(t!o% +ro$ t,!r Gross Tota# I%(o$ as "ro:!dd u%dr (#aus '<!!!) o+
s(t!o% C3C '6) o+ t, I%(o$ Ta< A(t1 A96A. T, $a<!$u$ ddu(t!o% "r$!ss!*# u%dr t,!s
s(t!o% !s Rs. A331333@B !% a 0ar1 su*=(t to a:a!#a*!#!t0 o+ &ross tota# !%(o$ o+ t, assss. No
G!+t Ta<1 %o Fa#t, Ta<. P#as (o%su#t 0our o.% "ro+ss!o%a# ad:!sor (o%(r%!%& "oss!*# ta<
(o%s-u%(s o% 0our !%:st$%t.

F$n' M%n%;er* R. Sr!%!:asa%
Assets $n'er =%n%;e=ent* Rs.A45.A5 (or
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.67.76
? NAV 5As on :I . A"r!# D A4)2
o Gro.t, o"t!o%2
Per#or=%n7e*
Se7tor Str%te;-*
6
9
Port#o&o*B
Instr$=ent In'$str- L o# NAV
>HEL I%dustr!a# Ca"!ta# Goods 5.46
R#!a%( I%dustr!s Ltd Ptrou$ Produ(ts 7.95
Godr= I%dustr!s Ltd C,$!(a#s 7.67
Ma,aras,tra Sa$#ss Ltd Frrous Mta#s 4.99
ONGC Ltd O!# 4.46
Godr= Co%su$r Produ(ts Ltd Co%su$r No% Dura*#s 4.6C
U%!td >r.r!s Ho#d!%& Ltd F!%a%( 4.66
Cro$"to% Gra:s Ltd I%dustr!a# Ca"!ta# Goods 4.A6
Auto$at!: A<#s Ltd Auto A%(!##ar!s 4.A7
S>I >a%8s 4.A3
Pa%ta#oo% Rta!# 'I) Ltd Rta!#!%& 4.35
Gra:s Cotto% Ltd I%dustr!a# Produ(ts 4.34
Ia!"ra8as, Asso(!ats Ltd Co%stru(t!o% 4.3A
Good#ass Nro#a( Pa!%ts Ltd Co%su$r No% Dura*#s 6.93
HDFC >a%8 Ltd >a%8s 6.C4
Ma,!%dra a%d Ma,!%dra Ltd Auto 6.CA
6
9
O$a< Auto Ltd Auto A%(!##ar!s 6.E9
>#u Star Ltd Co%su$ Dura*#s 6.64
I!%da# St# ? Po.r Ltd Frrous Mta#s 6.5C
PVR Ltd Md!a ? E%trt!a%$%t 6.5A
>#u Dart E<"rss Ltd Cour!r 6.69
Instr$=ent In'$str- L o# NAV
/!r#os8ar >rot,rs Ltd I%dustr!a# Produ(ts 6.65
I%+os0s T(,%o#o&!s So+t.ar 6.A3
Ra=s,r Su&ars ? C,$!(a#s Ltd Su&ar 6.39
A>> Ltd I%dustr!a# Ca"!ta# Goods 6.36
CESC Po.r A.9C
H!%dusta% Co%stru(t!o% Co$"a%0
Ltd
Co%stru(t!o% A.EC
S"!( It Ltd Tra%s"ort A.E3
Ma,a:!r S"!%%!%& M!##s Ltd T<t!#s D Cotto% A.5C
T, Sout, I%d!a% >a%8 Ltd >a%8s A.55
Gra",!t Ltd I%dustr!a# Produ(ts A.5A
EID Parr0 Ltd Co%su$r No% Dura*#s A.6E
M!dBda0 Mu#t!$d!a Ltd Md!a ? E%trt!a%$%t A.66
R#!a%( Natura# Rsour(s Ltd Gas A.66
Su"r Sa#s Ltd T<t!#s D Cotto% A.A7
>a%%ar! A$$a% Su&ar Ltd Co%su$r No% Dura*#s A.3E
Vard,a$a% S"!%%!%& ? G%ra#
M!##s
F!%a%( 3.94
C%s"@ C%&& %n' Ot"er Assets 1.,3
Net Assets /::.::
Fr%n>&n In'% T%?s"e&'
Invest=ent St-&e*
T, +u%d $a%a&r s8s stad0 &ro.t, *0 $a!%ta!%!%& a d!:rs!+!d "ort+o#!o o+ -u!t!s
a(ross s(tors a%d $ar8t (a" ra%&s.
Invest=ent O9Ce7tve*
A!$s to "ro:!d $d!u$ to #o%& tr$ &ro.t, o+ (a"!ta# a#o%& .!t, !%(o$
ta< r*at.
D%te o# A&&ot=ent* A"r!# A31 A999
F$n' M%n%;er* Sat!s, Ra$a%at,a%
L%test NAV*
5As on 8/ . Ia%uar0 D A6)2
Gro.t, P#a% Rs. AA3.5A
D!:!d%d P#a% Rs. 47.C5
6
9
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.AAC.7E
F$n' SHe* Rs. 646.5A (rors
T$rnover* Port+o#!o Tur%o:r EA.7CU
St%n'%r' Dev%ton2 6.45
R+sA$%re'* 3.96
(et%* 3.C4
S"%r<e R%toJ* 3.63
[ R!s8B+r rat assu$d to * 5.34U '*asd o% IP Mor&a% 4 $o%t, TB>!## I%d<)
E?<ense R%to* 6.74U
Mn=$= Invest=entE M$&t<&es #or Ne! Investors* Rs.533@533
A''ton%& Invest=entE M$&t<&es #or E?stn; Investors* Rs.533@533
T%? (ene#ts*
I%:st$%ts .!## -ua#!+0 +or ta< *%+!t u%dr t, %. S(t!o% C3C as a$%dd *0 t,
F!%a%( A(t 6335
F$n' M%n%;erFs Co==ent%r-*
T, -u!t0 <"osur o+ t, +u%d ,as !%(rasd to 97.54U +ro$ CC.EAU dur!%& t, $o%t,1 as
. d"#o0d t, (as, "os!t!o%. T, $a!% add!t!o% to t, "ort+o#!o .as R#!a%( Ca"!ta#. E<"osur
to FMCG a%d +!%a%( s(tors ,as &o% u"1 .,!# t,at to so+t.ar a%d $d!a ,as (o$ do.%.
Rs./::: nveste' %t n7e<ton n FIT M SMP CNX I::*
6
9
Se7tor Str%te;-*
Re&%n7e T%? S%ver 5ELSS6 F$n'
FUND DATA
Str$7t$re* O"%B%dd E-u!t0 L!%8d Sa:!%&s S(,$
In7e<ton D%te* S"t$*r 661 63A6
6
9
Cor<$s* Rs A1A96.4A (ror 'Mar(, 4A1 63A4)
Mn=$= Invest=ent* Rs 533 ? !% $u#t!"#s o+ Rs 533
F$n' M%n%;er* As,.a%! /u$ar
Entr- Lo%'* \6(r B 6.65UO W6(r \5(r B A.65UO W5(r B N!#
E?t Lo%'* N!#
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.A4.5A
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.A4.A3
INVESTMENT O()ECTIVE:
T, "r!$ar0 o*=(t!: o+ t, s(,$ !s to &%rat #o%&Btr$ (a"!ta# a""r(!at!o% +ro$ a
"ort+o#!o t,at !s !%:std "rdo$!%a%t#0 !% -u!t0 a%d -u!t0Br#atd !%stru$%ts.
Pr$ICICI T%? P&%n*
? F$n' SHe* Rs. 676.9E (rors
? NAV 5As on 8/+)%n$%r-+/,6*
? Gro!t" o<ton* Rs. E6.6E
? NAV 5As on :I+A<r&+/86*
? Gro!t" o<ton* Rs. CA.CC
? As . 8%o. t,at at t, !%("t!o% t, +u%d :a#u .!## * Rs.A3 *ut at t,!s sta& t, :a#u o+
t, +u%d !s Rs.E6.6E.
? T, rtur% o+ t, +u%d !s 46.9EU .,r as t, *%(, $ar8 o+ t, S?P N!+t0 .as A4.64U.
A((ord!%& to t,!s t, +u%d ,as do% *ttr t,% t, assu$"t!o% o+ t, $ar8t.
? NAV ,as *% !%(rasd +ro$ rs E6.6E to Rs CA.CC.
Kot%> ELSS*
? F$n' SHe* Rs.A36.E4 (rors
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.AA.5C6
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.A4.E6
6
9
? As . 8%o. t,at at t, !%("t!o% t, +u%d :a#u .!## * Rs.A3 *ut at t,!s sta& t, :a#u o+
t, +u%d !s Rs.AA.5C6.
? T, rtur% o+ t, +u%d !s AE.93U .,r as t, *%(, $ar8 o+ t, S?P N!+t0 533 .as
A5.63U. A((ord!%& to t,!s t, +u%d ,as do% *ttr t,% t, assu$"t!o% o+ t, $ar8t.
? NAV ,as *% !%(ras +ro$ Rs.AA.5C6 to Rs.A4.E6

Prn7<%& T%? S%vn; F$n'*
? F$n' SHe* Rs.A45.A5 (rors
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.67.76
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.E6
? As . 8%o. t,at at t, !%("t!o% t, +u%d :a#u .!## * Rs.A3 *ut at t,!s sta& t, :a#u o+
t, +u%d !s Rs.67.76.
? T, rtur% o+ t, +u%d !s 65.36U .,r as t, *%(, $ar8 o+ t, S?P N!+t0 .as A4.ACU.
A((ord!%& to t,!s t, +u%d ,as do% *ttr t,% t, assu$"t!o% o+ t, $ar8t.
? NAV ,as *% !%(rasd +ro$ Rs.67.76 to Rs.E6
Te=<&eton In'% T%?s"e&'*
? F$n' SHe* Rs.646.5C (rors
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.AA3.5A
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.AAC.7E
? As . 8%o. t,at at t, !%("t!o% t, +u%d :a#u .!## * Rs.A3 *ut at t,!s sta& t, :a#u o+
t, +u%d !s Rs.AA3.5A.
? T, rtur% o+ t, +u%d !s EA.7CU .,r as t, *%(, $ar8 o+ t, S?P N!+t0 533 .as
53.6EU. A((ord!%& to t,!s t, +u%d ,as do% *ttr t,% t, assu$"t!o% o+ t, $ar8t.
? NAV ,as *% !%(rasd +ro$ Rs.AA3.5A to Rs Rs.AAC.7E
Re&%n7e T%? S%ver 5ELSS6 F$n'*
? F$n' SHe* Rs.AA96.4A (rors
6
9
? NAV 5As on 8/ . Ia%uar0 D A6)2
o Gro!t" o<ton* Rs.A4.5A
? NAV 5As on :I . A"r!# D A4)2
o Gro!t" o<ton* Rs.A4.A3
? As . 8%o. t,at at t, !%("t!o% t, +u%d :a#u .!## * Rs.A3 *ut at t,!s sta& t, :a#u o+
t, +u%d !s Rs.A4.5A.
? T, rtur% o+ t, +u%d !s 43.5AU .,r as t, *%(, $ar8 o+ t, S?P N!+t0 533 .as
6A.3EU. A((ord!%& to t,!s t, +u%d ,as do% *ttr t,% t, assu$"t!o% o+ t, $ar8t.
? NAV ,as *% d(rasd +ro$ Rs.A4.5A to Rs.A4.A3
INTERPRETATION*
J Mutua# +u%ds out%u$*r tradd s(ur!t!s.
J Mutua# +u%ds ,a: a %u$*r o+ o*=(t!: +u%(t!o%s .,!(, #ad to o*sr:a*#0 d!++r%t trad!%&
st0#s.
T,s st0#s !%(#ud2
J A .!d :ar!t0 o+ +!r$s t,at trad o% %.s r&ard!%& t, %do.$%t s,o(8s o+ !%d!:!dua#s. I% t,
ra# .or#d t,!s $!&,t (orrs"o%d to +u%da$%ta# rsar(, a*out ,o. :ar!ous "arts o+ t, (o%o$0
ar do!%&.
J A "r!( +u%d t,at trads o%#0 o% t, -u!#!*r!u$ "r!( D ss%t!a##0 a t(,%!(a# trad!%& +u%d.
J A +u%d t,at s!$"#0 trads a +!<d a$ou%t o+ sto(8 D *as!(a##0 a% !%d< +u%d.
J Add!%& $utua# +u%ds to t, (o%o$0 !%(rass sto(8 "r!( #at!#!t0. T,!s rsu#t (o%trasts s,ar"#0
.!t, $od#s .,r +u%ds a(t #!8 "o"# .!t, ut!#!t0 +u%(t!o%s. I% t,os "a"rs add!t!o%a# +u%ds
rdu( #at!#!t0.
J S!%( $a%0 +u%ds ,a: d$a%ds .,!(, ar (o$"#t#0 "r!( !%#ast!(1 t, !%trodu(t!o% o+ a%
add!t!o%a# su(, +u%d dos %ot d!r(t#0 a++(t t, r!s8 d!s(ou%t !% t, "r!(s o+ r!s80 s(ur!t!s. T,r
$a0 * su(, a% ++(t1 *ut !t o"rats t,rou&, a (,a%& !% !%:storsM !$"#!d r!s8 a:rs!o%s.
J G%ra##01 %. +u%ds s,ou#d * %do.d .!t, trad!%& strat&!s .,!(, ar $a<!$a##0
d!++r%t +ro$ t,os o+ <!st!%& +u%ds.
6
9
CHAPTER+I
CONCLUSION MSUGGESTIONS
A. >0 t,!s stud0 . (o%(#ud t,at t, $!%!$u$ Ta< sa:!%& o+ a%d !%d!:!dua# !s Rs A333 a%d t,
$a<!$u$ Ta< sa:!%& !s 43333.
6
9
6. A% I%d!:!dua# (a% ta8 a% ad:a%ta& o+ t,!s +u%ds a%d s(,$s to sa: ta< *0 !%:st!%& $a<!$u$
o+ Rs A1331333
4. I+ a% I%d!:!dua# "a0s a "r$!u$ $or t,a% Rs A1331333 t,% , or s, (a%Mt a:a!# ta< *%+!t o+
.,at , or s, "a0s <(ss o+ Rs A1331
a. T, (o%(#us!o% o+ t,!s stud0 !s t,at t, #o.r r!s8 .!t, t, ,!&,r rtur%s !s t, !$"orta%t
as"t o+ t, $utua# +u%ds. As . ar stud!%& o% t, ta< sa:!%& +u%ds !% t,!s t, t.o t0" o+
*%+!ts .!## * %=o0d *0 t, !%:stor !..1 +!rst , .!## * sa:!%& t, ta< a%d t, $o%0
.,at , !s !%:st!%& !% t,at , s,ou#d %ot "a0 a%0 t0" o+ ta<.
*. I% t, a*o: +u%ds . (a% s t,at PruICICI ta< "#a% +u%d ,ad &!:% 46.9EU o+ rtur% +or$
t, !%("t!o% t!$1 /ota8 ELSS +u%d ,as &!:% t, rtur% o+ AE.9U !% o% 0ar1 t,
Pr!%(!"a# Ta< Sa:!%& Fud ,as &!:% 65.36U o+ rtur%s +or$ t, !%("t!o% "r!od1
T$"#to% I%d!a Ta< s,!#d +u%d ,ad &!:% t, rtur%s o+ EA.7CU +ro$ t, !%("t!o%
"r!od a%d t, R#!a%( Ta< sa:r 'ELSS) +u%d ,ad &!:% 43.5AU o+ rtur% +ro$ t,
!%("t!o%.
(. A((ord!%& to t, NAV t, Pr!%(!"a# Ta< Sa:!%& P#a% Fu%d !s .##1*ut t, ot,r a%d t,
(o$"ttor !s Fra%8#!% T$"#to% Ta<s,!#d +u%d a%d ICICI PRUDENTIAL Ta< P#a%
Fu%d. T, +u%d !s !% t, $ar8t +or t, #o%& t!$ *ut a#so t, rtur% o+ t, +u%d ar .##.
So1 t, !%:stor (a% !%:st !% t, Pr!%(!"a# Ta< Sa:!%& P#a% Fu%d or ICICI PRUDENTIAL
Ta< P#a% Fu%d *ot,. Hr1 t, Fra%8#!% T$"#to% +u%d !% t, $ar8t +or t, #o%& t!$
$or t,a% t, +!: 0ars a%d t, "r+or$a%( o+ t, +u%d !s a#so .##. T, $or +#u(t!o%s
ar %ot !..1 t, +u%d !s %ot ,a: $or u" a%d do.%s !% t, $ar8t t, +u%d $a%a&r ,ad
$a!%ta!%d t, +u%d !% a &ood ordr a%d t, "ort+o#!o !s $a!%ta!%d !% t, .## ds!rd .a0
a%d sa$ .!t, t, ICICI PRUDENTIAL Ta< P#a% Fu%d a#so t, !%:stor (a% !%:st a%0
o% o+ t, +u%d.R#!%( Fu%dMs NAV ,as (o$ do.% dur!%& t,!s o% 0ar.So I%:st!&at
"ro"r#0 *+or !%:st!%& !% R#!%( Ta< Sa:r
d. F,!# !%:st!%& t, $a!% t,!%&s ar t,at ,as to * %otd t,at t, +#u(t!o%s ar t,r ar a%d
,o. t, +u%d !s do!%& +ro$ t, !%("t!o% "r!od. I% t, ta< sa:!%& s(,$ t, $a!%
!%t%s!o% o+ t, !%:stor !s to sa: t, ta<1 a%d , .a%ts t, $o%0 to * &t so$ :a#u
addd to !t.
6
9
CHAPTER+1
(I(LIOGRAPHY
A. H.Pr$ Ra=a 163A41 9S0st$at!( Stud0 o+ I%(o$ Ta<;.
6
9
6. A##%1 F. a%d D. Ga#1 A9C91 9O"t!$a# S(ur!t0 Ds!&%1; Review of Financial Studies, A '4)1
669D664.
4. A##%1 F. a%d G. Gorto%1 A9941 9C,ur%!%& >u**#s1; Review of Economic Studies1 63 '7)1
CA4BC46.
7. >!a!s1 >.1 T. Fou(au#t1 a%d F. Sa#a%!N1 A99C1 9F#oors1 Da#r Mar8ts a%d L!$!t Ordr
Mar8ts1; Journal of Financial Markets1 A1 654B6C7.
DATA SOURCES*+
5. ...."ru!(!(!.(o$
6. ....8ota8$utua#.(o$
E. ...."r!%(!"a#!%d!a.(o$
C. ....t$"#to%!%d!a.(o$
9. ....r#!a%($utua#.(o$
A3.....&oo&#.(o$
AA. ....$0!r!s.(o$

doc_341924744.doc