Comparison of Reliance Mutual Fund with Others

A pop REPORT ON COMPARISON OF RELIANCE MUTUAL computer storage WITH OTHERS UNDERTAKEN AT INDIA INFOLINE LTD. BARDOLI pic SUBMITTED BY dimpled chad M. SHARMA (10BBA52) GUIDED BY Mr. NAVIN H. SAPARIYA BBA PROGRAMME ( course of instruction 2012-13) pic VIDYABHARTI TRUST COLLEGE OF BBA & BCA, UMRAKH I DIMPLE SHARMA from Vidyabharti Trust College of BBA & BCA, Umrakh hereby declare that the project melodic theme turn every over entitled Comparison of confidence reciprocal stemma With Others submitted by Ms. DIMPLE M. SHARMA Id nary(prenominal) 0BBA52 during descentember 2012 to February 2013 has been to a lower place taken as a part of 6th Semester of BBA broadcast of Veer Narmad South Gujarat University, Surat. I declare that this report has not been submitted to each separate university or institute for any other purposes. DIMPLE M. SHARMA (10BBA52) This run into employ is written in accordance with the Bachelor of Business court course prescribed by Veer Narmad South Gujarat University for two month project work.I am greatly thankful to India Infoline Ltd. , Bardoli for giving me an opportunity to work on this project at their go with. I wish to express my guileless thanks to Mr. Viral Chauhan, I/c Principal of BBA College who gave me the chance to do this project report under India Infoline Ltd. , Bardoli. I wish to express my sound sense gratitude to my guide Mr. Navin H. Sapariya whose constant assistant and support at tot tout ensembley stages of this project has modify me to complete it. I am thankful to my corporation guide Mr.Parag Khatri, for providing his valuable suggestion and guidance which has given final achieve to the report and to a fault for sharing his rich experience for the contents of this report without whom this project would not turn over been completed successfully. Last but not least, I am also grateful to my parents, colleagues whose continuous support has of in all time boosted my moral towards working on this report. DIMPLE M. SHARMA (10BBA52)As a partial fulfilment of BBA Programmed all students are required to undergo training for 2 months with respect to this I grant prepared a project report on Comparison of credit unwashed breed with Others. The project is base under the assumption that, As shared blood being a brand-new enthronisation avenue in the food market deal likes to grab just about information about assurance usual computer storage. I want to cadency the performance of creed mutual ancestry Schemes correspondd to others. In the duration of 8 weeks, I studied various interchangeable lineage Schemes of faith & bluff Ended origin like right Fund.In order to compare the intrigues of Reliance shared Fund & Others, I stack away each week net as present abide bys of Reliance Mutual Fund Schemes & leave Ended Fund Schemes for the catch of 2007 to 2012. I compare fascinates by calculating stake & turn back in that respectby to round the performance of polar schemes of Reliance Mutual Fund & Open Ended Fund in legality schemes. In the paleness Fund Schemes, the years from 2009, 2010 & 2012 Reliance Mutual Fund is headspringhead playing among others. Ch. No. Topic Page No. 1. Introduction About fraternity Profile About Topic About Reliance Mutual Fund 2. inquiry Methodology 3. Data Analysis and Interpretation 4. Findings 5. Conclusions 6. Recommendations 7. References Bibliography CHAPTER 1 picIntroduction pic go with PROFILE INTRODUCTION OF INDIA INFO LINE PVT. LTD. VISION OF THE COMPANY quite a little is to be the close respected company in the financial operate space. INTRODUCTION 5 paisa is the trade name of the India Infoline Securities private limited, a tout ensemble owned subordinate word of India Infoline ltd. paisa holds membership of both the prima(p) rip commute of India viz. the Bombay stock exchange ( mad cow disease) and subject area transmit modify and is also a Depository Participant with NSDL and CDSL. It has tied up with the guide banks for silver transfer facilities Viz. City Bank, Centurion Bank, ICICI Bank and UTI bank the group has a membership of a Multi Commodities fill in (MCX), National Commodities and Derivative Exchange of India (NCDEX) and the Dubai florid and Commodities Exchange (DGCX). India Infoline Ltd was shewed in 1995 by a group of professionals with impeccable educational qualification and professional credentials. India Infoline is listed on BSE and NSE with a market chief city letterization of over $ 150 million. The India Infoline group, comprising the holding company, the India Infoline Ltd. And its wholly owned subsidiaries offers the entire gamut of expendment products ranging from Equities and redress , obstinate deposits ,GOI bonds , Loan products and other small saving instruments. It also owns and ope grade sack up sites, www. indiainfolin e. om and www. 5paisa. com. India Infoline is a forerunner in the field of equity enquiry. India Infolines look for is acknowl sharpnessd by none other than Forbes as The best of the tissue and a must read for come outor in Asia. India Infolines inquiry is for sale not just over the cyberspace but also on international wire serve like Bloomberg (code ILL), Thomson set-back call and internet securities where it is amongst the most read Indian brokers. The India Infoline group has a signifi send packingce straw man across the country with over 500 branches in over ccc cities across India.All these offices are networked and connected with the corporate office in Mumbai. The group has invested signifi assholetly in technology and research, the result of which are there for everyone to see. The 5 paisa trading interface is one of the most advanced platforms available to retail investor in India. The group has membership on BSE and NSE for equities trading. It has a SEBI evidence for Portfolio Management under which, various schemes are offered, which bugger off been continentally beating the benchmark indices since inception. THE INDIA INFOLINE LTD. India Infoline Ltd, being a listed entity, is regulated by SEBI (Securities and Exchange Board of India). It undertakes equities research which is acknowledged by none other than Forbes as Best of the web must read for investors in Asia. Its various subsidiaries are in different lines of business and hence are governed by different regulators. The subsidiaries of India Infoline Ltd are India Infoline Securities close Ltd. India Infoline Securities Pvt. Ltd. is a snow% adjuvant of India Infoline Ltd, which is engaged in the businesses of Equities broking and Portfolio Management Services. It holds memberships of both the straining stock exchanges of India viz. the Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE). It offers broking serve in the cash and Derivatives seg ments of the NSE as well as the Cash segment of the BSE. India Infoline Commodities closed-door Ltd. India Infoline Commodities Pvt.Ltd is a 100% subsidiary of India Infoline Ltd, which is engaged in the business of commodities broking. Our experience in securities broking empowered us with the requisite skills and technologies to forget us offer commodities broking as a contra- Cyclical alternative to equities broking. We respect memberships with the MCX and NCDEX, two leading Indian commodities exchanges, and recently acquired membership of DGCX. We have a multi-channel delivery model, making it among the select few to online as well as offline trading facilities. India Infoline Distribution Co. Ltd. India Infoline. com Distribution Co Ltd is a 100% subsidiary of India Infoline Ltd. and is engaged in the business of distribution of Mutual cash in hand, IPOs, Fixed Deposits and other small savings products. It is one of the largest vendor-independent distribution hous es and has a astray pan-India footprint of over 232 branches coupled with a huge arrive of feet-on-street, which helps author and service customers across the length and breadth of India.Its unique value suggest of free doorstep expert advice coupled with free pick-up and delivery of cheques has been met with an vehement response from customers and storehouse houses alike. Our business has expanded to include the online distribution of vulgar currency, wherein users can view and compare different product offerings and download coat forms which they can later submit to the product leave behindr. India Infoline amends Services Ltd. India Infoline Insurance Services Ltd is also a 100% subsidiary of India Infoline Ltd and is a registered incorporate cistron with the Insurance Regulatory and Development Authority (IRDA). It is the largest collective Agent for ICICI prudent life story Insurance Co Ltd, which is Indias largest private Life Insurance familiar ity. India Infoline Investment Services Ltd. India Infoline Investment Service Ltd is also a 100% subsidiary of India Infoline Ltd. It has an NBFC license from the Reserve Bank of India (RBI) and offers margin-funding facility to the broking customers. India Infoline Insurance divisor Ltd. India Infoline Insurance Brokers Ltd. is a 100% subsidiary of India Infoline Ltd and is a newly organize subsidiary which will carry out the business of Insurance broking. We have applied to IRDA for the restitution broking license and the clearance for the homogeneous is awaited. OPERATIONS This is where the 5paisa subsidiary of the India Infoline group, comes in. They operate their functions through their dobriny knowledge and infobase on in judgment research of complex paradigms of commodity kinetics, offers their customers a unique insight into behavioral patterns of these markets. Their customers are ideally positioned to make aware investment finale s with a racy probability of success India Infoline commodities private ltd. offers the investors the opportunity to participate in this market by facilitating trading in commodities incomings.They are the members of Multi commodity Exchange of India (MCX) and National Commodity Exchange of India (NCDEX). Their main function is to provide the investor with the complete head for the hills of commodities for trading, in both the morning as well as eventide sessions. Trading can be online, over the phone or at their branches. Highly qualified, well trained relationship managers are available at their investor points across the country, to help the investor make the best of commodities trading Besides all the above functions, they also leverage their skills in research, investments in cutting edge technology and understanding of investors requirements to ensure that their needs are taken care of.Thus, they perform the function of adding value to the investors money. HISTORY & MILESTONES Year 2011 Launched IIFL Mutual Fund. 2010 Received in-principle approval for membership of the gravid of Singapore Stock Exchange Received membership of the Colombo Stock Exchange. 2009 Acquired registration for Housing pay SEBI in-principle approval for Mutual Fund Obtained Venture Capital license 2008 Launched IIFL wealthiness Transitioned to insurance broking model 2007 Commenced institutional equities business under IIFL Formed Singapore subsidiary, IIFL (Asia) Pte Ltd 2006 Acquired membership of DGCX Commenced the lending business 2005 Maiden IPO and listed on NSE, BSE 2004 Acquired commodities broking license Launched Portfolio Management Service 2003 Launched proprietary trading platform trader circumstanceinal for retail customers 2000 Launched online trading through www. 5paisa. com Started distribution of life insurance and mutual fund 1999 Launched www. indiainfoline. om 1997 Launched research products of leading Indian companies, key sectors and the thriftiness Client included leading FIIs, banks and companies. 1995 Commenced operations as an Equity Research firm PRODUCT & SERVICES Equities our core offering, gives us a leading market share in both retail and institutional segments.Over a million retail customers rely on our research, as do leading FIIs and MFs that invest billions. IIFL has rapidly emerged as one of the premier institutional equities houses in India with a squad of over 25 research analysts, a full-fledged sales and trading team coupled with an experienced investment banking team. Private Wealth Management services cater to over 2500 families who have indisputable us with close to Rs 25,000 crores ($ 5bn) of assets for advice. Investment Banking services are for corporates looking at to agitate detonating device. Our forte is Equity Capital Markets, where we have executed several pavilion transactions. IIFLs investme nt banking division was plunked in 2006.The business leverages upon its strength of research and placement capabilities of the institutional and retail sales teams. Our experienced investment banking team possesses the skill-set to manage all kinds of investment banking transactions. Our close interaction with investors as well as corporates helps us understand and offer tailor-made solutions to fulfill requirements. IIFL Mutual Fund made an impressive beginning in FY12, with lowest aid Nifty ETF. Other products include Fixed Maturity Plans. Credit & pay focuses on secured mortgages and consumer loanwords. Our eminent quality loan book of over Rs. 6,200 crores ($ 1. 2bn) is O.K. by strong capital adequacy of approximately 20%. IIFL offers a wide array of secured loan products. Currently, secured loans (mortgage loans, margin funding, loans against shares) comprise 94% of the loan book. The Company has discontinued its unsecured products. It has robus t credit processes and collections mechanism resulting in overall NPAs of less than 1%.The Company has positioned proprietary loan-processing software to enable stringent credit checks while ensuring fast application processing. Recently the company has also launched Loans against Gold. Life Insurance, Pension and other Financial Products, on sacrifice architecture complete our product suite to help customers build a match portfolio. IIFL entered the insurance distribution business in 2000 as ICICI prudent Life Insurance Co. Ltds corporate agent. Later, it became an Insurance broker in October 2008 in line with its strategy to have an open architecture model. The Company now distributes products of major insurance companies through its subsidiary India Infoline Insurance Brokers Ltd.Customers can choose from a wide bouquet of products from several insurance companies including exclusive New York Life Insurance, MetLife, Reliance Life Insurance, Bajaj Allianz Life, Birla Sunlife , Life Insurance Corporation, Kotak Life Insurance and others. Commodities IIFL offers commodities trading to its customers vide its membership of the MCX and the NCDEX. Our domain knowledge and data based on in depth research of complex paradigms of commodity kinetics, offers our customers a unique insight into behavioral patterns of these markets. Our customers are ideally positioned to make informed investment decisions with a advanced probability of success. IIFL (India Info Line Ltd) Corporate Structure pic pic ABOUT THE TOPIC COMPARISON OF RELIANCE MUTUAL FUND WITH OTHERS What are Mutual Funds? A Mutual Fund is a trust that pools the savings of a number of investors who share a plebeian financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realized are shared by its unit holders in proportion to the number of un its owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a coitusly low cost.The flow chart below describes broadly speaking the working of a mutual fund pic Mutual Fund operation Flow Chart ORGANIZATION OF A MUTUAL FUND on that point are many entities involved and the diagram below illustrates the organizational set up of a mutual fund pic Organization of a Mutual Fund ADVANTAGES OF MUTUAL FUNDS The advantages of investing in a Mutual Fund are Professional Management Diversification Convenient governing ReturnPotential Low Costs Liquidity Transparency Flexibility Choice of schemes revenue enhancement benefits Well regulated TYPES OF MUTUAL FUND SCHEMES Wide varieties of Mutual Fund Schemes exist to cater to the needs such as financial position, attemptiness tolerance and return expe ctations etc. The table below gives an overview into the existing types of schemes in the Industry. TYPES OF MUTUAL FUND SCHEMES BY STRUCTURE Open Ended Schemes boney Ended Schemes Interval Schemes BY INVESTMENT OBJECTIVE maturement Schemes Income Schemes equilibrate Schemes Money Market Schemes OTHER SCHEMES Tax Saving Schemes Special Schemes index number Schemes celestial sphere Specific Schemes FREQUENTLY USED TERMS Net addition Value (NAV) Net Asset Value is the market value of the assets of the scheme minus its liabilities. The per unit NAV is the net asset value of the scheme carve up by the number of units outstanding on the Valuation Date. Sale de marginine Is the worth you pay when you invest in a scheme? too called Offer worth. It whitethorn include a sales load. Repurchase Price Is the worth at which units under open-ended schemes are repurchased by the Mutual Fund? Such prices are NAV related. Redemp tion Price Is the price at which close-ended schemes redeem their units on maturity. Such prices are NAV related. Sales fill up Is a charge collected by a scheme when it sells the units?Also called, Front-end load. Schemes that do not charge a load are called No Load schemes. High insecurity, High Return Many investors purchase a item stock with the intention of making a big profit over a poor period of time. However, this action is not investing, but a pure gambling. The reason for this is that you are never guaranteed that you will get the superior returns you hope for over such a short period of time.There may be times in which stocks have put a bring down on short-term growth, but these occurrences are very rare. On fair stocks have returned from 10% to 12%. However, this doesnt flirt with that all stocks return at these rates. The stock market is characterized by the trade-off between adventure and return. The higher(prenominal) the jeopardy t he investor is willing and able to take, the higher the potential rewards from the investment. Therefore, if a particular investment offers you high returns, it is an indication that it will come with a high risk of infection burden. As part of the selection process, you should determine the risk grow of the stock as well as your risk tolerance. If you are looking for high returns you should be able to meet high potential tone endinges as well.Many investors prefer young technology-oriented companies over blue chip companies, because the first provide higher returns than the latter. However, the latter provides its shareholders with regular dividends to compensate for the modest growth. So, the bordering time you are offered a stock that is expected to triple in value over a short time period, think conservatively whether to invest in it, because the chances of it failing to reach this level of return is passing high. Risk Return (finance) the financial term for profit or l oss derived from an investment. Return is the benefit distributed to the owner. A person making an investment expects to get some return from the investment in the future. But as the future is uncertain, so is the future expected return.It is the uncertainty associated with the returns from an investment that introduces risk in to an investment. Standard difference of opinion For the much than technically-minded, Standard discrepancy is the basic statistical mensuration of the dispersion of a population of data observations around a think. In trading language its an indication of price fluctuation it measures how off the beaten track(predicate) the last price is from the average terminal price over a set period. The greater the difference between the closing prices and the average price, the higher the standard deviation will be. The closer the closing prices are to the average price, the lower the standard deviation . he relative rate at which the price of protective cove r moves up and down. Risk is found by calculating the annualized standard deviation or daily changes in the price. Risk = standard deviation of closing price for n periods / average closing price for n periods pic The variance and standard deviation measure the extent of unevenness of possible returns from the expected return. Several other measures such as a range, semi-variance and mean absolute deviation have been employ to forecast measure risk but standard deviation has been the most popularly accepted measure. The standard deviation or variance provided provides a measurement of total risk associated with warranter.Total risk comprises of two components videlicet dictatorial risk and un imperious risk. Variance The variance of a random variable is a measure of its statistical dispersion, indicating how far from the expected value the variance is the average of squared deviation about the arithmetic mean for a set of numbers It describes how far values lie from the mean. In particular, the variance is one of the moments of a distribution. pic Risk and Beta As far as an investor is concerned, the systematic risk is no very important as it can be reduced or eliminated through diversification. It is an irrelevant risk. The risk that is relevant in decision making is the systematic risk because it is undiversifiable.Hence the investor seeks to measure the systematic risk of security. Systematic risk is the variant in security returns caused by changes in the economy or the market. All securities are affect by such changes to some extent, but some securities exhibit greater variability in response to market changes. Such securities are verbalize to have higher systematic risk. A higher variability would head higher systematic risk and vice versa. The systematic risk of security is measured by a statistical measure called Beta the stimulation data required for the calculation for important are the historical data of returns of the individual securit y as well as the returns of a lesson stock market index.For the calculation of beta, the return of individual security is taken as dependent variable, and the return of the market index is taken as the independent variable. Beta is a score that measures a market stock volatility or risk against the rest of the market. It is calculating using relapsing analysis. The Beta of an asset, ? , is a measure of the variability of that asset relative to the variability of the market as a whole . Beta is an index of the systematic risk of an asset. Risk also implies return. Stocks with a high beta should have a higher return than the market. If you are accepting more risk you should accept more reward as beta measures the Risk of a securities return relative to the market the larger the beta, the security is more risky. A beta of 1. indicates a security of average risk a stock with beta greater than 1. 0 has above average risk. Its returns would be more risky than the market returns. A stock with less than 1. 0 would have below average risk. A security can have betas that are unconditional, negative or zero. It is a historical measure of systematic risk of systematic risk. In using this beta for investment decision making, the investor is assuming that the relationship between the security variability and market variability will continue to remain the same in future also. Investor can find the best use of beta ratio in short term decision making, where price volatility is important. Beta shows sensitivity of Stock market with that of index. If positive than moves with market. And if beta is negative it has inverse relationship. Correlation The coefficient of correlativity is one of the most useful statistics. A correlation is single number that describes degree of relationship between two variables. Correlation is a statistical technique that can show weather that how strongly pairs of variables are related. For modeling height and weight are related taller muckl e tend to be heavier than shorter people. The relationship isnt perfect. People of the same height vary in weight and you can think of two people. You know where the shorter one is heavier than the other taller one.Correlation can tell you just how much of the variation in peoples weight is elated to their heights. Compute the correlation value, the formula for correlation are pic Covariance Intuitively, covariance is the measure of how much two variables vary together. That is to say, the covariance becomes more positive for each pair of values which differ from their mean in the same direction, and becomes more negative with each pair of values which differ from their mean in opposite directions. In this way, the more often they differ in the same direction, the more positive the covariance, and the more often they differ in opposite directions, the more negative the covariance.The covariance between two real-valued random variables X and Y, with expected values E(X) = ? and E(Y) = ? is defined as pic pic About Reliance Mutual Fund Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settler/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee. RMF has been registered with the Securities & Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund was changed to Reliance Mutual Fund effective 11th March 2004 vide SEBIs letter no. IMD/PSP/4958/2004 date 11th March 2004.Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to direct to the capital market and to provide investors the opportunities to make investments in diversified securities. The main objectives of the Reliance Mutual Fund are To carry on the activeness of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings an d investments for people in India and abroad and also ensure gasity of investments for the whole holders To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings and To take such travel as may be necessary from time to time to reckon the effects without any limitation.Our Schemes Equity The aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities. Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also render the investors to change the options at a later date. reaping schemes are best for investors having a long-term outlook seeking appreciation over a period of time. Diversified Large Cap Diversified Theme establish Diversified Multi Cap Sector Diversified Mid Cap & picayune Cap Tax Saver Index Arbitrage Banking equilibrate DebtThe aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market instruments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The NAVs of such funds are affected because of change in interest rates in the country. If the interest rates fall, NAVs of such funds are probable to increase in the short run and vice versa. However, long term investors may not bother about these fluctuations. Ultra Short Term Money Market Funds (Liquid Funds) Short Term Funds pine Term Funds Monthly Income Plans Gold Gold is seen as a symbol of security and a sign of prosperity. Indian consumers consider grand jewellery as an investment and are well aware of fortunates benefits as a store of value. Gold is also know as a form of money in India, a tradable liquid asset. It is one of the foundation assets for Indian households and a means to accumulate wealth from a long term perspective. Gold investment has been in the finale of Indian tradition and has been on rise amongst the modern investors as well due to the financial uncertainty and inflationary pressures. Gold Exchange Traded Fund Gold Savings Fund picChapter 2 research methodology query METHODOLOGY Problem Statement Comparison of Reliance Mutual Fund with others. Scope of Study The scope of the project is mainly concentrated on the different categories of the mutual funds such as equity schemes, debt funds, balanced funds and equity linked savings schemes etc. Research Objectives base Objective To know the best scheme of Mutual Fund by different parameters. Second ary Objectives Understanding the attitude & behavior of the distributors towards Reliance Mutual Fund (RMF). Understanding the competition for the schemes provided by different Mutual Funds Company. Finding out ways & means to improve on the services by RMF. To evaluate investment performance of selected mutual funds in terms of risk and return. Also to analyze the performance of mutual fund schemes on the basis of various parameters. Importance of The Study This study provides the sizeable comparison to Reliance Mutual Fund for improving in their services and takes a sound decision regarding it. Reference Period Reference period is 1st January 2007 to 30th December 2012. Research Design I have selected Descriptive Research Design. Data Collection Collect data with the help of distributor (INDIA INFOLINE) and Internet.Sample Size 5 schemes of Reliance Mutual Fund & 5 schemes of Open Ended Funds. Plan for Data Analysis By bit by bit like Checking Editing Tabulating through Table, Charts & Graphs. LIMITATION OF STUDY Data is collected from secondary sources which may not be as reliable as primary data so sometimes it may be lead wrong soothsaying about future. Data giving a prediction of market condition but other factors also affect to it so perfect suggestion may not be predicted. DIRECTION FOR besides RESEARCH The study is held for direct Company and research department head. picChapter 3 Data Analysis & Interpretations DATA INTERPRETATIONThe study is based on the weekly scheme returns of Mutual Fund as well as the weekly return of NIFTY INDEX. The series of scheme returns computed from weekly scheme prices of the good index for the period of 5 years from 1st Jan 2007 to 31st Dec 2012 and take overtake 5 Open Ended Schemes to measure risk and return. Risk is measured by standard deviation, beta, etc. Performance of Reliance Banking Fund & Other pic Funds Name Beta Standard Deviation Correlation Covariance Return ICICI Prudential baring Fu nd- 1. 03% 4. 7% 0. 86 0. 0018 110. 8% emergence UTI drug company & health anxiety Fund- 0. 78% 4. 7% 0. 65 0. 0014 98. 41% ingathering TATA equilibrize Fund- yield 0. 77% 3. 9% 0. 93 0. 0014 82. 92% ICICI Prudential Discovery 1. 03% 4. 7% 0. 86 0. 0018 110. 8% Fund- harvest-festival UTI Pharma & wellness Care Fund- 0. 78% 4. 7% 0. 65 0. 0014 98. 41% Growth TATA Balanced Fund- Growth 0. 77% 3. 9% 0. 93 0. 0014 82. 92% ICICI Prudential Discovery Fund- 1. 03% 4. 7% 0. 86 0. 0018 110. 8% Growth UTI Pharma & Health Care Fund- 0. 78% 4. 7% 0. 65 0. 0014 98. 41% Growth TATA Balanced Fund- Growth 0. 77% 3. 9% 0. 93 0. 0014 82. 92% ICICI Prudential Discovery Fund-1. 03% 4. 7% 0. 6 0. 0018 110. 78% Growth UTI Pharma & Health Care Fund- 0. 78% 4. 7% 0. 65 0. 0014 98. 41% Growth TATA Balanced Fund- Growth 0. 77% 3. 9% 0. 93 0. 0014 82. 2% ICICI Prudential Discovery Fund-1. 03% 4. 7% 0. 86 0. 0018 110. 78% Growth UTI Phar ma & Health Care Fund- 0. 78% 4. 7% 0. 65 0. 0014 98. 41% Growth TATA Balanced Fund- Growth 0. 7% ICICI Prudential Discovery Fund- Growth 1. 03% Reliance Banking Fund- Growth 0. 98% Reliance Diversified Power Sector Fund- Growth 0. 90% Reliance Equity Opportunities Fund- Growth 0. 86% UTI Pharma & Health Care Fund- Growth 0. 78% Standard Deviation Here, are the top 5 schemes that has confine & low deviation which is somewhat good. Funds Name Standard Deviation Reliance MIP (Monthly Income Plan) Fund- Growth 3. 10% Reliance Pharma Fund- Growth 3. 30% Reliance Equity Opportunities Fund- Growth 3. 50% SBI Magnum Balanced Fund- Growth 3. 80% TATA Balanced Fund- Growth 3. 90% CorrelationHere, are the top 5 schemes whose Correlation is High & Highly Moderate. Funds Name Correlation SBI Magnum Balanced Fund- Growth 0. 95 TATA Balanced Fund- Growth 0. 93 Reliance Equity Opportunities Fund- Growth 0. 92 Reliance Diversified Power Sector Fund- Growth 0. 91 ICICI Prud ential Discovery Fund- Growth 0. 6 Covariance Here, are top 5 schemes who has moderate to low variation compared to others. Funds Name Covariance Reliance MIP (Monthly Income Plan) Fund- Growth 0. 0004 Reliance Pharma Fund- Growth 0. 0008 Reliance Equity Opportunities Fund- Growth 0. 0011 ICICI Prudential FMCG Fund- Growth 0. 012 SBI Magnum Balanced Fund- Growth 0. 0013 pic Chapter 5 Conclusions Conclusion all investor wants to maximize his returns at the lowest possible risk or he tries to minimize his risk keeping his returns equivalent, both gives him higher profits. In evaluating mutual funds, investors usually consider only the past returns generated by the fund without considering the risk associated with it. From the project, I conclude that, After analysis of all the schemes of reliance mutual fund & open ended funds, there are 5 schemes that as high risk involved but there is also high return accumulated with it. These schemes are Reliance Banking Fund,Reliance D iversified Power Sector Fund, Reliance Equity Opportunities Fund, ICICI Prudential Discovery Fund & UTI Pharma & Health Care Fund. Theory says that risk and return go hand in hand. And we can see that in these 5 schemes. Considering all the factors, the best scheme is Reliance Pharma Fund & Reliance MIP (Monthly Income Plan) Fund compare to all other schemes. pic CHAPTER Recommendation After analyze the Risk and Return of all the schemes of Reliance Mutual Fund & Open Ended Funds, I urge that the Reliance Pharma Fund & Reliance MIP (Monthly Income Plan) Fund for the low risk takers and Reliance Banking Fund & ICICI Prudential Discovery Fund for the high risk takers.These schemes gives the highest return but there is also high risk compare to other schemes included in Reliance Mutual Fund & Open Ended Funds. Those people invest in this schemes who believes that High Risk, High lucre. I also recommend that the SBI Magnum Balanced Fund and TATA Balanced Fund schemes are providin g less return & having high risk so there is highest risk to invest in these two schemes. pic Chapter 7 Bibliography ? www. mutualfundsindia. com/rankfund. rpt. asp ? http//www. personalfn. com/tools-and-resources/mutual-funds/nav-history. aspx ? http//www. indiainfoline. com/Aboutus/ ? http//www. reliancemutual. com/NAV/NAVDownload. aspx pic firmness ACKNOWLEDGEMENT EXECUTIVE SUMMARY TABLE OF CONTENTS