Comparitive study of mutual funds Essay

Investing in mutual funds provides a total solution for the investing needs. With a well-designed portfolio of mutual funds, the investor can have his own pool of professionally managed investments, even with a small initial investment. Mutual fund is a kind of trust that manages the pool of money collected from various investors and it is managed by a team of professional fund managers (usually called an Asset Management Company) for a small fee. An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money managers, who invest the fund’s capital and attempt to produce capital gains and income for the fund’s investors. A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus. The Indian Mutual fund  business has passed through three phases. The first phase was between 1964 and 1987, when the only player was the Unit Trust of India, which had a total asset of Rs. 6,700/- crores at the end of 1988. The second phase is between 1987 and 1993 during which period 8 funds were established (6 by banks and one each by LIC and GIC). The total assets under management had grown to Rs. 61,028/- crores at the end of 1994 and the number of schemes were 167. The third phase began with the entry of private and foreign sectors in the Mutual fund industry in 1993. Kothari Pioneer Mutual fund was the first fund to be established by the private sector in association with a foreign fund. The share of the private players has risen rapidly since then. At present 39 asset management companies are working in India. The major mutual fund players in Indian market at present are: ï  ¶ABN AMRO Mutual Fund I have chosen HDFC ASSET MANAGEMENT COMPANY from private sector and SBI MUTUAL FUND from public sector for my study because HDFC is no 1 in private sector mutual fund companies and SBI is no 1 in public sector mutual fund companies. HDFC Asset Management Company Limited (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the Mutual Fund by SEBI on July 3, 2000. In terms of the Investment Management Agreement, the Trustee has appointed the HDFC Asset Management Company Limited to manage the Mutual Fund. The paid up capital of the AMC is Rs. 25.161 crore. SBI Funds Management Ltd. is the investment manager of SBI Mutual Fund. SBI Mutual Fund has been constituted as a trust, sponsored by State Bank India. Today the Fund has an investor base of over 2.8 million spread over 23 schemes. With a large network of collecting branches and investor service centres, SBI Mutual Fund constantly endeavors to get closer to its growing family of investors. NEED OF THE STUDY Mutual fund companies are introducing various new schemes in the market due to which the investors are generally confused that in what type of schemes they should invest and in which mutual fund company they should invest. The main purpose of this study is to know about the performance of various schemes of mutual fund companies of public and private sector in the market. It would help to know about the concept of mutual funds and to know about various schemes under mutual fund which will ultimately benefit the investors to decide about their investment in mutual fund companies. OBJECTIVES OF THE STUDY The study is being conducted for the following objectives: ïÆ'ËœTo develop understanding of the concept and working of mutual fund schemes. ïÆ'ËœTo analyze and compare the performance of selected mutual fund schemes offered by SBI mutual fund and HDFC mutual fund. ïÆ'ËœTo study the investor’s behavior towards the mutual fund schemes offered by public and private sector. RESEARCH METHODLOGY DATA COLLECTION The data required for the study is collected from primary as well as secondary sources. The primary data is collected through self constructed questionnaires which will be to know about the investors behavior towards mutual funds in private and public sector. SAMPLE AREA- AGRA CITY SAMPLE SIZE- 50 SAMPLING METHOD- CONVINIENT SAMPLING The secondary data is collected from websites. NATURE OF STUDY The study is analytical which includes comparative analysis of performance of mutual funds in public and private sector as well as analysis of investors behavior towards mutual funds in private and public sector. TOOLS USED FOR ANALYSIS ïÆ'ËœFinancial technique such as Sharpe ratio and Standard deviation. Presentation tools ïÆ'ËœBar graphs and pie charts REFERENCES 1) KHORANA AJAY (2001) â€Å"Performance Changes following Top Management Turnover: Evidence from Open-End Mutual Fund† Journal of Financial and Quantitative Analysis, September 2001 2) Sapar Rao Narayan and Madava Ravindran in his paper entitled Performance Evaluation of Indian Mutual Funds(2003) www.ssrn.com 3)Panwar Sharad and Madhumathi R. in their study entitled Characteristics and Performance Evaluation of selected Mutual funds in India(2006) Indian Institute of Capital Markets 9th Capital Markets Conference Paper 4)Ranganathan Kavitha in her study entitled A Study of Fund Selection Behaviour of Individual Investors Towards Mutual Funds – with Reference to Mumbai City (2006) Indian Institute of Capital Markets 9th BIBLIOGRAPHY www.mutualfundsonline.com www.hdfcfund.com www.sbimf.com www.valueresearchonline.com

Critical Reflective Log Essay Example | Topics and Well Written Essays - 5000 words

Critical Reflective Log - Essay Example This essay is a critical reflective log on placement based on drugs and alcohol use, a recovery process. Although research has shown that moderate consumption of alcohol has some health benefits for older adults, excessive consumption of alcohol has negative health and social consequences just like drug abuse or addiction. About five percent of the world’s population meets the criteria for an alcohol and drug use disorder, dependence or abuse (Miller 2003). The highest percentage of this population comes from Australia. People under 25 years of age stand the riskiest drinking habits. The most effective treatment strategy for alcoholism and drug addiction is intervening early with risky alcoholics and drug abusers to prevent them from becoming heavy and regular alcoholics or drug abusers (American Psychiatric Association 1994). It is a complicated process to withdraw someone from heavy alcohol intake or drug addiction because it is not easy to stop the drinking habit or stop the drug abuse habit. Once an alcoholic or drug addict decides to recover from the addiction, there are various ways of doing so. For instance, one can do it from an inpatient rehab center, outpatient rehab center, hospital, therapy, or engage himself in the twelve step programs (VandenBos 2007). Quitting drinking or drugs assists one to get rid physical illnesses related to the addiction out of his body. In addition, the addict needs to heal emotionally to avoid cases where he goes back to his old addictions. For an alcoholic or drug addict to recover, he will be expected to follow a certain process beyond his old life to create a new life (Schaler 1997). These processes are part of self reflection or introspection. Below are programs, which can assist an alcoholic or drug addict to have a self reflection. These programs last for a month or more than a year and they usually take place in a residential

Philosophy Ethics Essay Example | Topics and Well Written Essays - 1250 words - 1

Philosophy Ethics - Essay Example The paper also describes the methods to keep ethical code in priority in order to maintain rule of morality and law in society in general and within the organization in particular. I have been working as CEO of ABC Tobacco Company for the last five years, and maintain the credit of multiplying the business volume of my company to almost three fold from the time I assumed the position afore-mentioned. We prepare high quality tobacco for the cigars and cigarettes that produce alluring aroma, and hence, captivates the attraction of smokers and even non-smokers too to some extent. Thus, refined high quality, bewitching fragrance, delicate presentation, stylish packing and economical cost make our product as a very popular brand at regional level. It is therefore the sales volume of our cigarettes is in constant increase, and our company has also brought the characteristics of the product in limelight through advertising campaign at print and electronic media. Somehow, arrival of new brands at low prices has affected our sales, and profit volume may also witness downfall. Consequently, our marketing and advertising department has proposed the advertising of our pro duct outside schools, colleges, universities and health clubs, so that it could fascinate the youth and thus they start buying and consuming the product both secretly and openly. It is a fact beyond suspicion that youth serves as the most emotional and thrilling stratum of society, which appears to be ready to enter into adventures and create excitement in one way or the other. Additionally, harmful, destructive and risky adventures particularly capture their attention, and they are determined to violate the law and thus get involved into the activities the norms, values, mores, traditions and statutes of prevailing law of their society prohibits them to do the

Describe the importance of having a sound business continuity plan Assignment

Describe the importance of having a sound business continuity plan - Assignment Example Key areas that present challenges include commitment and involvement levels of senior management, incorrect assumptions in the stages of designing BCPs, and approaching the execution of BCPs inappropriately (BSI, 2012). The senior management may be too busy in other undertakings and, therefore, delegate their duties and responsibilities. From the organizational perspective, a project’s visibility is compromised by such delegation. To overcome this challenge, a steering committee should be formed and have membership from across the stakeholders, which will serve a cross-functional role in solving issues. In terms of incorrect assumptions, most limiting factors are usually not considered. For example, organizations presume that its activities in different locations will be supported by employees. However, disruptions that cause injuries or fatalities also lead to reluctance from the employees. However, when the BCP procedure is understood at the developing stage, it will elimina te the need of having to be amended when a disruption strikes the organization. The third challenge, from inappropriate approach, may be characterized by outsourced services from multiple providers (BSI, 2012). For instance, organizations operating from multiple locations my use services from different agencies in different locations, as much as the organization focuses on centralized management. This can be avoided by working with approaches based on services and products while assessing risks. Failure to implement these strategies means an organization will not be able to restore its critical services seamlessly following a disruption and may result in closure of

Book review for chinese whispers by Hsiao-Hung Pai Literature

Book for chinese whispers by Hsiao-Hung Pai - Literature review Example ntensity brought out the issues that the Chinese workers face each day, and how although there is a high awareness of the issues being faced by people working in the sweatshops in developing countries like India and China, however one thing which most people tend to overlook is the people who work at the local sweatshops even now operating within Britain. The author brings out in this book that there is a major issue that the Chinese migrant workers tend to face mainly due to high levels of exploitation and due to their own vulnerable nature as well. The author has very effectively explained the ill effects of globalization and has also brought out how the boom of the new Chinese economy is in a number of ways killing a number of people within the country itself. The author brings out that the strategic decisions being made by people to overcome and stop the sweatshops and child labor in other developing counties is not the only areas that need to be considered. The sweatshops within Britain are also following unruly manners of dealing with the people and to a great extent, are leaving the Chinese illegals to be living in inhumane conditions. This needs first attention and focus rather than focusing on other areas in other countries. Although the author does not express this as incorrect strategy, the author tries to explain the need to stop the Chinese exploitation in the UK. The Chinese are brought to the country illegally and are forced to work in different jobs with no breaks and made to live in inhumane conditions with no care from anyone. This the author explains is a major issue in the strategies of people trying to assist and cut down the ill – treatment of people. This is a sector of the society that needs assistance and needs to be focused upon to help the people and to ensure that the people are not exploited. The main errors here is that although the people have the work permits and are allowed to work, the policies in the United Kingdom government

Economic Philosophy Term Paper Example | Topics and Well Written Essays - 1750 words

Economic Philosophy - Term Paper Example Though there are theories that can be described as being best suited to explain crime, the question is whether it can be argued that there is the best punishment that can help reduce criminal acts in the world. It is worth noting that scholars have held different points of view concerning whether there can be a theory that can explain in totality the criminal behavior of the contemporary society. Advancing this debate, this paper uses Gary Becker point of view to argue as to whether that there can be an appropriate punishment to deal with criminal behavior in the contemporary societies. In justifying this statement the paper would utilize the four part approach centered on three theories: Rational choice theory, Strain theory, and Labeling theory. In social strain theory, Robert Merton, postulates that most individuals have very similar aspiration, however, they do not all have similar abilities or opportunities. According to this theory, whenever individuals fail to realize the expectations of the society by approved means such as delayed gratification, and hard work, such persons might attempt to achieve their success through crime. Although this theory has played a significant role in sociological theorization of crime, limitation identifies in this theory, indicate that the theory cannot explain in totality what can drive individuals into committing crime. Cohen the first critique of Robert merton theory, there is ample amount of delinquent or crime behavior that is malicious, negativistic, and non-utilitarian. This indicates that not all crimes can be explicable with the use of Merton’s theory. As much as Merton’s theory can explain well, crimes such as theft, and fraud on such basis as innovation, this the ory does not explain youth crimes that in most cases are involved in for social status reason rather than material acquisition. Moreover, Strain theory fails to address adequately issues such as gender and race and it

Experiment 4 Rdr - Chemical Equilibrium Essay Example for Free

Experiment 4 Rdr Chemical Equilibrium Essay Iron-Silver Equilibrium In the first phase of the experiment, iron sulfate was mixed with silver nitrate, and the reaction produced solid silver and iron nitrate, which is formally written as, Fe2+ (aq) + Ag+ (aq) ⇄ Ag (s) + Fe3+ (aq) The mixture was then placed in a centrifuge in order for the solid silver to settle and separate from the supernate. The supernate was then tested for the presence of Fe2+, Fe3+ and Ag+ by placing K3Fe(CN)6, KSCN and HCl to 3 separate samples of the supernate. The result of the tests was as follows: 1.Addition of K3Fe(CN)6 After K3Fe(CN)6 was added to the supernate, a Prussian blue precipitate was formed, more formally written as, Fe2+ (aq) + Fe(CN)63- (aq) + K+ (aq) → K∙Fe2(CN)6 (s) This reaction thus proves that the supernate contains Fe2+. 2.Addition of KSCN After KSCN was added to the supernate, a blood red complex was formed, more formally written as, Fe3+ (aq) + SCN- (aq) → FeSCN2+ (aq) This reaction thus proves that the supernate contains Fe3+. 3.Addition of HCl The last test was the addition of HCl to the supernate. This produced a white precipitate, which we can formally write as, Ag+ (aq) + Cl- (aq) → AgCl (s) This reaction thus proves that the supernate conatins Ag+. The 3 tests showed that all 3 ions were present in the supernate. This goes to show that the reaction between iron sulfate and silver nitrate was in a state of equilibrium since both the ions in the product and reactant side were present, meaning to say that the forward and reverse reactions were proceeding at the same rate. Furthermore, the range of the equilibrium constant (Keq) for the reaction of iron sulfate and silver nitrate is from 10-10 to 1010 [1]. Copper-Ammonia Equilibrium The second phase of the experiment dealt with the reaction between copper sulfate and ammonia, more formally written as, CuSO4 (aq) + 2 NH4OH (aq) → Cu(OH)2 (aq) + (NH4)2SO4 (aq) The pale blue precipitate formed at the beginning of the reaction of copper sulfate and ammonia was the Cu(OH)2. From the pale blue color, it turned into a deep cerulean blue when 11 drops of ammonia was added. The solution then went back to the pale blue color after 4 drops of hydrochloric acid was added. The addition of hydrochloric acid added more H+ ions to the solution; therefore, drawing the equilibrium back to the reactant side. This equilibrium reaction is formally stated as, [Cu(H2O)6]2+ (aq) + 4 NH3 (aq) ⇄ [Cu(NH3)6]2+ (aq) + H2O (l) As observed, it took almost 3 times the number of drops of ammonia to change the pale blue color to a deep cerulean blue as compared to the number of drops of hydrochloric acid that changed the deep cerulean blue back to pale blue. This means that the reverse reaction was more spontaneous than the forward reaction. Chromate-Dichromate Equilibrium In the third phase of the experiment, the chromate and dichromate solutions were observed. Chromate had a yellow color, while dichromate had an orange color. When sulfuric acid was added to a sample of chromate and dichromate solutions, the yellow chromate solution turned orange, while the dichromate solution remained orange. The equation for the chromate’s change in color is as follows, 2 CrO42- (aq) + 2 H+ (aq) → H2O (l) + Cr2O7- (aq) When sodium hydroxide was added to a sample of chromate and dichromate, the chromate solution remained yellow, while the orange dichromate solution turned yellow, formally written as, 2 OH- (aq) + Cr2O7- (aq) → 2 CrO42- (aq) + H2O (l) The change in color of chromate as hydrochloric acid was added and the change in color of dichromate as sodium hydroxide was added was due to the instability of the reactions, causing a shift in the equilibrium. The acid H2SO4 (sulfuric acid) was used in the reaction since it’s a strong acid, and strong acids dissociate more. The added H+ ions increase the concentration, therefore, shifting the equilibrium. Based on the observations made, it could be said that the dichromate solution is stable under acidic conditions, while the chromate solution is stable under basic conditions. Iron-Thiocyanate Equilibrium In the fourth phase of the experiment, iron trichloride was reacted to thiocyanate giving way to this reaction, [Fe(H2O)6]2+ (aq) + SCN- (aq) ⇄ [Fe(SCN)(H2O)5]2+ (aq) + H2O (l) The reaction produced a light orange solution, which was then tested to determine to which direction the equilibrium shifted when Fe3+, SCN- and NaCl were added. The result of the tests was as follows: 1.Addition of Fe3+ After FeCl3 was added to a sample of the solution, the light orange color of the solution became a darker shade of orange, which could be said to show a shift to the right. 2.Addition of SCN- After KSCN- was added to a sample of the solution, the shade of orange of the solution was lighter than the solution when FeCl3 was added, but darker than the original light orange color. It could then be said that the equilibrium shifted to the right. 3.Addition of NaCl Lastly, NaCl was added to a sample of the solution. It was observed that the resulting solution had a lighter shade of orange than that of the original. With this, it could be said that the equilibrium shifted to the left. The shift to the left of the equilibrium was brought about by the reaction of Cl- (from NaCl) with Fe(SCN)3. Cobalt-Cobalt Chloride Equilibrium The last and final phase of the experiment was on the reaction of cobalt dichloride and hydrochloric acid which could be formally written as, [Co(H2O)6]2+(aq) + 4Cl- (aq) ⇄ [Co(Cl)4]2-(aq) + 6H2O(l) The first part of this phase reacted cobalt dichloride with hydrochloric acid. The pink color of the cobalt dichloride (Co2+) turned blue (CoCl42-) when hydrochloric acid was added. In the second part of this phase, the test tube containing cobalt dichloride was immersed in a boiling water bath. The pink color of the solution turned blue when the temperature increased. With this, it could be said that the equilibrium shifted to the right upon heating. When the temperature is increased at constant pressure, an exothermic reaction would proceed backward or shift to the left. In this case, the increase in temperature made the equilibrium shift to the right; therefore, the reaction is said to be endothermic. CONCLUSION The experiment basically could be summarized into the 5 different equilibrium states. First, the iron-silver equilibrium states that reactants and products could indeed co-exist in a system. Second, the copper-ammonia equilibrium states that certain chemicals could affect the state of equilibrium of a system. Third, the chromate-dichromate equilibrium states that increasing the acidity or basicity of the solution could either move the equilibrium forward or backward. Fourth, the iron-thiocyanate equilibrium states that â€Å"An increase in the concentration of the reactant or a decrease in the concentration of the product shifts the direction of the reaction towards the production of more products to return to the equilibrium position. On the contrary, a decrease in the concentration of the reactants or an increase in the concentration of the product shifts the equilibrium position towards the production of more reactants.† [3] Lastly, the cobalt-cobalt chloride equilibrium states that an increase in temperature in an endothermic reaction favors product formation, therefore shifting the equilibrium to the right. On the contrary, increasing the temperature in an exothermic reaction favors reactant formation causing a shift to the left. RECOMMENDATIONS The methods and procedures done in the experiment are sufficient to obtain the data and results needed. No further recommendation is needed. REFERENCES [1] Petrucci, Ralph et.al. General Chemistry: Principles and Modern Applications, 10th ed.; Pearson Canada: Toronto, Ontario, 2010. [2] Padolina, Ma. Cristina et.al. Conceptual and Functional Chemistry: Modular Approach, Vibal Publishing House, Inc.: Araneta, Quezon City, 2004. [3] Chemical Equilibrium. [Online]. http://www.scribd.com/doc/30015115/Expt-9-Chemical-Equilibrium (accessed last January 15, 2013)