Mutual fund Simplified- To study the Perception Towards Mutual Fund Services on ICICI Direct and Level of Awareness

A Summer Training Project Report on
“Mutual Fund Simplified - To Study the Perception towards Mutual
Fund Services on ICICI Direct and Level of Awareness”
AT
ICICI SECURITIES
Submitted By:
Shubham Tandan (BM- 014252)
Under the Guidance of:
Faculty Instructor: Industry Guide:
Prof. Mayank Kumar Mr. D.K. Ramchandra
Faculty- PGDM Manager Business Development
(IMS- GHAZIABAD) (ICICI SECURITIES)
(Summer Internship report in partial Fulfillment of the award of full time
post-Graduation Diploma In Management which is equivalent to MBA)
Academic Session
2014- 2016
Institute of Management Studies
Lal Quan, Ghaziabad, Uttar Pradesh -201009

CERTIFICATE
This is to certify that Shubham Tandan, student of PGDM (Full Time) 2014-16 Batch, I.M.S.
Ghaziabad, have done this summer training project under My supervision and guidance.
During this project they were found to be very sincere and attentive to small details whatsoever
were told to them.
I wish them good luck and success for their future.
Date: ………………… Prof. Mayank Kumar
Faculty – PGDM
(IMS Ghaziabad))

DECLARATION
I, Shubham Tandan, student of PGDM course in Institute of Management Studies, Ghaziabad,
declare that project report titled “Mutual Fund Simplified - To Study the Perception towards
Mutual Fund Services on ICICI Direct and Level of Awareness” at “ICICI SECURITIES”
which is being submitted in the partial fulfillment of the requirement for the summer internship
project. A prestigious post graduate diploma awarded by INSTITUTE OF MANAGEMENT
STUDIES. The project duration was from 11th
May 2015 to 11th
July 2015.
This is my original work and has not been submitted as part of another degree or diploma of
other business school or university.
The findings and conclusion of this project report are based on my personal study and
experience, during the tenure of my summer internship.
Name: Shubham Tandan
Institute Of Management Studies
Ghaziabad
Signature:
Date:
Place: ROHINI SECTOR-8 BRANCH, DELHI

PREFACE
PGDM is a stepping-stone to the management carrier and to develop good manger. Summer internship is an
essential and Important part of curriculum of PGDM program because along with the theoretical aspects, practical
training is also very important. Summer training is an exposure to cooperate environment and help PGDM students
to get acquainted with original norms, procedures, practices ethics, and culture. It also give an insight of actual
functioning of the organization. It helps the student to understand and to cooperate with theoretical aspect with
practical reality.
The attractive feature of the PGDM course is that along with theory we also get to have the exposure of the practical
environment. This is through the summer training that we have to undergo after the completion of first year. The
entire journey from the very idea of this project report to reality would not have been possible without guidance and
support of many people.
The Project Report is based on Market Study on “Mutual Fund Simplified - To Study the Perception towards
Mutual Fund Services on ICICI Direct and Level of Awareness”. The study was confined geographically to
Delhi NCR. The data source was given to me by the company.
The special task was assigned to me to give demonstration about the site of icici direct to the customers whose
account was inactive.
The Mutual fund Industry is in the growing stage in India, which is evident from of mutual funds offered by the
banks, financial institution & private Companies.

ACKNOWLEDGEMENT
This successful project report has been made possible through the direct co-operation and
guidance of various people for whom I wish to express my appreciation and gratitude.
First of all, I would like to express my sincere gratitude to our department that has given
me an opportunity and special thanks to my guide Prof. MAYANK KUMAR, Faculty of IMS
GHAZIABAD who have always provided me guidance whenever needed.
I extended my heartiest thanks to Mr. Vaibhav Goyal (BRANCH MANAGER OF
ICICI SECURITIES ROHINI BRANCH) and Ms. Manisha Bisht (SENIOR RELATIONSHIP
MANAGER) and last but not least, Mr. D.K. Ramchandra (MANAGER BUSINESS
DEVELOPMENT) who have given me an opportunity to work under him and help me to
complete my project in ICICI SECURTIES.
I would like to acknowledge the advice and suggestions of all the staff member of ICICI
SECURITIES who have directly or indirectly helped me in the project. And foremost I offer my
sincere thanks to my parents, cousins and friends for their encouragement.
THANKING YOU
SHUBHAM TANDAN

TABLE OF CONTENT
CHAPTERS PARTICULARS PAGE NO.
1. EXECUTIVE SUMMARY 1
2. INTRODUCTION 3
3. OBJECTIVE OF THE STUDY 20
4. COMPANY PROFILE 22
5. LITRATURE REVIEW 31
6. RESEARCH METHODOLOGY 34
7. DATA ANALYSIS 37
8. FINDINGS 54
9. CONCLUSION 56
10. SUGGESTION 58
11. ANNEXURE 60
10. BIBLIOGRAPHY 65

EXECUTIVE SUMMARY
It presents an introduction to these and throws light on the introduction on
mutual fund information and awareness is raising more and more people are enjoying the
benefits of investing in mutual funds. These include the measurement of the customer
awareness. The research work done in the field of finance with a particular
reference to the investment of the mutual fund.
Further an overview of the ICICI SECURITIES and the services of the ICICI
SECURITIES. And also explain the research methodology adopted for carrying out
the research work.
The analysis and advice presented in this project report is based on market research
on perception of investors towards investment in mutual funds. This report will help
to know about the investor‟s preferences in mutual fund means.
Also all the constructs are exhibited below with their dimensions and shows
the overview of pattern of analysis which is adopted, data collection method,
sampling details, research instrument, construction of questionnaire. etc
This also summarizes the main finding and conclusion of the study.
Moreover, in the light of these findings, appropriate suggestion has also been
worked out.

CHAPTER 2
INRODUCTION TO MUTUAL FUND

INTRODUCTION TO MUTUAL FUND
 HISTORY
In India, Mutual fund industry stated in 1963 with the formulation of UTI (Unit Trust of
India, at the initiative of Government of India and Reserve Bank of India. Much later, in
1987, SBI Mutual Fund became the first non-UTI mutual fund in India.
Subsequently, the year 1993 heralded a new era in the mutual fund industry. This was
marked by the entry of private companies in the sector. After the Securities and Exchange
Board of India (SEBI) Act was passed in 1992, the SEBI Mutual Fund Regulations came
into being in 1996. Since then, the Mutual fund companies have continued to grow
exponentially with foreign institutions setting shop in India, through joint ventures and
acquisitions.
As the industry expanded, a non-profit organization, the Association of Mutual Funds in
India (AMFI), was established on 1995. Its objective is to promote healthy and ethical
marketing practices in the Indian mutual fund Industry. SEBI has made AMFI
certification mandatory for all those engaged in selling or marketing mutual fund
products.
As the name suggests, a 'mutual fund' is an investment vehicle that allows several
investors to pool their resources in order to purchase stocks, bonds and other securities.
These collective funds (referred to as Assets under Management or AUM) are then
invested by an expert fund manager appointed by a mutual fund company called Asset
Management Company (AMC).
The combined underlying holding of the fund is known as the 'portfolio', and each
investor owns a portion of this portfolio in the form of units.
These are classified according to their maturity period, or investment objective. One can
also classify mutual funds as 'open ended funds' - where investors may invest or redeem
at any point in time and 'close ended funds' - where investors can invest only during the
initial launch period known as the NFO (New Fund Offer) period.

 What is Mutual Fund?
A mutual fund is a professionally-managed trust that pools the savings of many investors
and invests them in securities like stocks, bonds, short-term money market instruments
and commodities such as precious metals. Investors in a mutual fund have a common
financial goal and their money is invested in different asset classes in accordance with the
fund‟s investment objective.
Mutual funds are pooled investment vehicles actively managed either by professional fund
mnagers or passively tracked by an index or induatry. The funds generally well diversified
to offset potential losses. They offer an attractive way for savings to be managed in a
passive manner without paying high fees or requiring constant attention from individual
investors. Mutual funds presents an option for investors who lack the time or knowledge
to make traditional and complex inveatment decisions. By putting your money in mutual
fund, you permit the portfolio manager to make those essential decision for you.
In simple Words, Mutual Fund is a mechanism for pooling the resources by issuing units
to the investors and investing funds in securities in accordance with objectives as
disclosed in offer document.
In the Mutual funds, Diversification reduces the risk because all stocks may not move in
the same direction in the same proportion at the same time. Mutual Fund issues units to
the investors in accordance with Quantum of money invested by them. Investors of
Mutual funds are known as unit holders.
The profit or loses are shared by the investors in proportion to their investments. The
Mutual finds normally come out with a number of schemes with different investment
objectives which are launched from time to time. In India, A Mutual fund is required to be
required to be registered with Securities and Exchange Board of India (SEBI) which
regulates securities markets securities makes before it can collect funds from the public.
In short, a Mutual fund is a common pool of money in to which investors with common
investment objective place their contribution that are to be invested in accordance with the
stated investment objective of the scheme. The investment manager would invest the
money collected from the investor in to assets that are defined/permitted by the stated
objective of the scheme. For example, an equity fund would invest in equity and equity
related instruments and a debt fund would invest in bonds, debentures, gilts etc. Mutual
fund is a suitable investment or the common man as it offers an opportunity to invest in a
diversified, professionally managed basket of securities at a relatively low cost.

A VEHICLE FOR INVESTING IN PORTFOLIO OF STOCKS AND
BONDS
Characteristics of Mutual Funds
 A Mutual Fund actually belongs to the investors who have pool their funds. The mutual
find is in the hands of the investors.
 A Mutual Fund is managed by the investment professionals and other service providers,
who earn a fee for theirservices, from the fund, manage a mutual fund.
 The pool of fund is invested in a portfolio of marketing investment. The value of the
portfolio ids updated every day.
 The invester‟s shares in the fund is denominated by „units‟. The value of the unit changes
with changes in the portfolio value, every day. The value of one unit of ivestment is
called as the net asset value (NAV).
 The investment portfolio of the mutual fund is created according to the stated investment
objectives of the fund.

Benefits of Investing in a Mutual Fund
As an investor, you would like to get maximum returns on your investments, but you may not
have the time to continuously study the stock market to keep track of them. You need a lot of
time and knowledge to decide what to buy or when to sell. A lot of people take a chance and
speculate, some get lucky, most don t. This is where mutual funds come in. Mutual funds offer
you the following advantages :
Professional management:- Qualified professionals manage your money, but they are not
alone. They have a research team that continuously analyses the performance and prospects of
companies. They also select suitable investments to achieve the objectives of the scheme. It is a
continuous process that takes time and expertise which will add value to your investment. Fund
managers are in a better position to manage your investments and get higher returns.
Diversification:- The cliché, "don't put all your eggs in one basket" really applies to the concept
of intelligent investing. Diversification lowers your risk of loss by spreading your money across
various industries and geographic regions. It is a rare occasion when all stocks decline at the
same time and in the same proportion. Sector funds spread your investment across only one
industry so they are less diversified and therefore generally more volatile.
More choice:- Mutual funds offer a variety of schemes that will suit your needs over a lifetime.
When you enter a new stage in your life, all you need to do is sit down with your financial
advisor who will help you to rearrange your portfolio to suit your altered lifestyle.
Professional
management
Diversification
More choice
Affordability
Tax benefitsLiquidity
Rupee-cost
averaging
Transparency
Regulations

Affordability: As a small investor, you may find that it is not possible to buy shares of larger
corporations. Mutual funds generally buy and sell securities in large volumes which allow
investors to benefit from lower trading costs. The smallest investor can get started on mutual
funds because of the minimal investment requirements. You can invest with a minimum of
Rs.500 in a Systematic Investment Plan on a regular basis.
Tax benefits: Investments held by investors for a period of 12 months or more qualify for capital
gains and will be taxed accordingly. These investments also get the benefit of indexation.
Liquidity: With open-end funds, you can redeem all or part of your investment any time you
wish and receive the current value of the shares. Funds are more liquid than most investments in
shares, deposits and bonds. Moreover, the process is standardised, making it quick and efficient
so that you can get your cash in hand as soon as possible.
Rupee-cost averaging: With rupee-cost averaging, you invest a specific rupee amount at regular
intervals regardless of the investment's unit price. As a result, your money buys more units when
the price is low and fewer units when the price is high, which can mean a lower average cost per
unit over time. Rupee-cost averaging allows you to discipline yourself by investing every month
or quarter rather than making sporadic investments.
Transparency: The performance of a mutual fund is reviewed by various publications and
rating agencies, making it easy for investors to compare fund to another. As a unitholder, you are
provided with regular updates, for example daily NAVs, as well as information on the fund's
holdings and the fund manager's strategy.
Regulations: All mutual funds are required to register with SEBI (Securities Exchange Board of
India). They are obliged to follow strict regulations designed to protect investors. All operations
are also regularly monitored by the SEBI.
Disadvantages of Mutual Fund

No Insurance: Mutual funds, although regulated by the government, are not insured against
losses. The Federal Deposit Insurance Corporation (FDIC) only insures against certain losses at
banks, credit unions, and savings and loans, not mutual funds. That means that despite the risk-
reducing diversification benefits provided by mutual funds, losses can occur, and it is possible
(although extremely unlikely) that you could even lose your entire investment.
Dilution: Although diversification reduces the amount of risk involved in investing in mutual
funds, it can also be a disadvantage due to dilution. For example, if a single security held by a
mutual fund doubles in value, the mutual fund itself would not double in value because that
security is only one small part of the fund's holdings. By holding a large number of different
investments, mutual funds tend to do neither exceptionally well nor exceptionally poorly.
Fees and Expenses: Most mutual funds charge management and operating fees that pay for the
fund's management expenses (usually around 1.0% to 1.5% per year for actively managed
funds). In addition, some mutual funds charge high sales commissions, 12b-1 fees, and
redemption fees. And some funds buy and trade shares so often that the transaction costs add up
significantly. Some of these expenses are charged on an ongoing basis, unlike stock investments,
for which a commission is paid only when you buy and sell .
Poor Performance: Returns on a mutual fund are by no means guaranteed. In fact, on average,
around 75% of all mutual funds fail to beat the major market indexes, like the S&P 500, and a
growing number of critics now question whether or not professional money managers have better
stock-picking capabilities than the average investor.
Loss of Control: The managers of mutual funds make all of the decisions about which securities
to buy and sell and when to do so. This can make it difficult for you when trying to manage your
portfolio. For example, the tax consequences of a decision by the manager to buy or sell an asset
No Insurance
Dilution
Fees and
Expenses
Poor
Performance
Loss of
Control
Trading
Limitations
Size
Inefficiency of
Cash Reserves
Too Many
Choices

at a certain time might not be optimal for you. You also should remember that you are trusting
someone else with your money when you invest in a mutual fund.
Trading Limitations: Although mutual funds are highly liquid in general, most mutual funds
(called open-ended funds) cannot be bought or sold in the middle of the trading day. You can
only buy and sell them at the end of the day, after they've calculated the current value of their
holdings.
Size: Some mutual funds are too big to find enough good investments. This is especially true of
funds that focus on small companies, given that there are strict rules about how much of a single
company a fund may own. If a mutual fund has $5 billion to invest and is only able to invest an
average of $50 million in each, then it needs to find at least 100 such companies to invest in; as a
result, the fund might be forced to lower its standards when selecting companies to invest in.
Inefficiency of Cash Reserves: Mutual funds usually maintain large cash reserves as protection
against a large number of simultaneous withdrawals. Although this provides investors with
liquidity, it means that some of the fund's money is invested in cash instead of assets, which
tends to lower the investor's potential return.
Too Many Choices: The advantages and disadvantages listed above apply to mutual funds in
general. However, there are over 10,000 mutual funds in operation, and these funds vary greatly
according to investment objective, size, strategy, and style. Mutual funds are available for
virtually every investment strategy (e.g. value, growth), every sector (e.g. biotech, internet), and
every country or region of the world. So even the process of selecting a fund can be tedious.

ROLE OF MUTUAL FUNDS
Mutual Funds & Financial Market
In the process of development Indian mutual funds have emerged as strong financial
intermediaries & are playing a very important role in bringing stability to the financial system &
efficiency to resource allocation. Mutual Funds have opened new vistas to investors & imparted
a much-needed liquidity to the system. In the process they have challenged the hitherto role of
commercial banks in the financial market & national economy.
Mutual Fund & Capital Market
The active involvement of Mutual Funds in promoting economic development can be seen not
only in terms of their participation in the savings market but also in their dominant presence in
the money & capital market. A developed financial market is critical to overall economic
development, & Mutual Funds play an active role in promoting a healthy capital market. The
asset holding pattern of mutual funds in the USA indicates the dominant role of Mutual Funds in
the capital market & money market. Moreover they have also rendered critical support to
securities mortgage loans & municipal bond market in the USA. In the USA, Mutual Funds
provide very active support to the secondary market in terms of purchase of securities.
Investor‟s preferences pattern in India has undergone a tremendous change during recent times,
along with the changes in the share of financial assets in the total annual savings. Indian
investors have moved towards more liquid & growth oriented trade able instruments like‟s
shares/debentures & units of Mutual Funds. The shift is asset holding pattern of investors has
been significantly influenced by the „equity‟ & „unit‟ culture while the holders of company
shares & debentures are concentrated in the urban areas, small/medium investors in the semi-
urban & rural areas are tending towards Mutual Funds.
Mutual Funds in India have certainly created awareness among investors about equity oriented
investments & its benefits.

KEY INVESTMENT CONSIDERATION BY THE INVESTORS

TYPES OF MUTUAL FUNDS
 The mutual fund industry of India is continuously evolving. Along the way, several
industry bodies are also investing towards investor education. Yet, according to a report
by Boston Analytics, less than 10% of our households consider mutual funds as an
investment avenue. It is still considered as a high-risk option.
 In fact, a basic inquiry about the types of mutual funds reveals that these are perhaps one
of the most flexible, comprehensive and hassle free modes of investments that can
accommodate various types of investor needs.
 Various types of mutual funds categories are designed to allow investors to choose a
scheme based on the risk they are willing to take, the investable amount, their goals, the
investment term, etc.

 By Constitution :
a) Close Ended: In India, this type of scheme has a stipulated maturity period and
investors can invest only during the initial launch period known as the NFO (New
Fund Offer) period.
b) Open Ended: This scheme allows investors to buy or sell units at any point in
time. This does not have a fixed maturity date.
c) Interval: Operating as a combination of open and closed ended schemes, it
allows investors to trade units at pre-defined intervals.
 By Investment Objective:
a) Equity Funds: Equities are a popular mutual fund category amongst retail
investors. Although it could be a high-risk investment in the short term, investors
can expect capital appreciation in the long run. If you are at your prime earning
stage and looking for long-term benefits, growth schemes could be an ideal
investment.
b) Debt Funds: In a debt/income scheme, a major part of the investable fund are
channelized towards debentures, government securities, and other debt
instruments. Although capital appreciation is low (compared to the equity mutual
funds), this is a relatively low risk-low return investment avenue which is ideal
for investors seeing a steady income.
c) Cash/Balanced Funds: This scheme allows investors to enjoy growth and
income at regular intervals. Funds are invested in both equities and fixed income
securities; the proportion is pre-determined and disclosed in the scheme related
offer document. These are ideal for the cautiously aggressive investors. These
schemes are also known as Hybrid Schemes.

TAXATION BENEFITS INVESTING IN MUTUAL FUNDS
INDEXATION:
 Under Indexation, you are allowed by law to inflate the cost of your asset by a
government notified inflation factor.
 This factor is called the „Cost Inflation Index‟, from which the word „Indexation‟ has
been derived.
 This inflation index is used to artificially inflate your asset price.
 This helps to counter erosion of value in the price of an asset and brings the value of an
asset at par with prevailing market price.
 This cost inflation index factor is notified by the government every year. This index
gradually increases every year due to inflation.
INDEXATION CALCULATION:
 Invested amount X (CII of the year when the redemption has happened / CII of the
year when the investment has been done).

 So the indexed cost of investment for an investment of Rs 100,000 done in the year
2011-12(CII=785) in the year 2014-15 (CII=1024) will be as follows:
Indexation Example & Comparision With FD:
More about Mutual Fund
 Net Asset Value (NAV)
Net Asset Value of the fund is the cumulative market value of the assets of the fund net
of its liabilities. NAV per unit is simply the net value of assets divided by the number of
units outstanding. Buying and selling into funds is done on the basis of NAV- related
prices.
130445.9
1024
785
100000

The NAV of a Mutual Fund are required to published in newspaper. The NAV of an open
end scheme should be disclosed at least on a weekly basis.
The following are the requirements and accounting definitions laid down by SEBI.
NAV Per share = total assets of fund - accrued expenses – payables- other liabilities
Number of units outstanding
 Entry/ Exit Load
A load is a charge, which the mutual fund may collect on entry and /or exit from a fund.
A load is levied to cover thr up-front cost incuured by the mutual fund for selling the
fund. It also covers one time processing costs. Some funds do not charge any entry or exit
load. These fuds are refered to as “No Load Fund”. Funds usually charge an entry load
ranging between 1.00% and 2.00%. Exit load vary between 0.25% and 2.00%.
For e.g. Let us assume an investor invest Rs. 10,000/- and current NAV is Rs. 13/-. If the
entry load levied is 1.00%, the price at which the investor investsis Rs. 13.13 per unit.
The investors receives 10000/13.13 = 761.6146 units. (Note that units are allotted to an
investor based on the amount invested and not on the basis of no. of units purchased).
Let us now assume that the same investor decides to redeem his 761.6146 units. Let us
also assume that the NAV is Rs.15/- and the exit load is 0.50%. therefore the redemption
price per units works out to Rs.14.925. The investor therefore receives 761.6146 ×
14.925 = Rs.11367.10.
 Sale or Repurchase/Redemption price
The price or NAV a unit holder is charged while investing in a open-ended scheme is
called sales price. It may include sales load if applicable.
Repurchase or Redemption price is the price or NAV at which open-ended scheme
purchases or redeems is units from the holders. It may include exit load if applicable.
Risk involved in investing in Mutual Funds:
The level of risk in a mutual fund depends on what it invests in. Usually, the higher the potential
returns, the higher the risk will be. For example, stocks are generally riskier than bonds, so an
equity fund tends to be riskier than a fixed income fund.
Some specialty mutual funds focus on certain kinds of investments, such as emerging markets, to
try to earn a higher return. These kinds of funds also tend to have a greater risk of a larger drop
in value.
Mutual Funds do not provide assured returns. Their returns are linked to their performance. They
invest in shares, debentures, bonds, etc. All these investments involve an element of risk. The

unit value may vary depending upon the performance of the company and if a company defaults
in payments of interest/principal on their debentures/bonds the performance of the fund may get
affected. Besides incase there is a sudden downturn in the industry or the government comes up
with new a regulation which affects a particular industry or company the fund can again be
adversely affected. All these factor influence the performance of Mutual funds.
There is a six common risk are covered in every investment are as follows:
Some of the risk to which Mutual Funds are Exposed ti is given below:
1. Market Risk
If the overall stock or bond markets fall on account of overall economic factors, the value
of stocks or bonds holdings in the fund‟s portfolio can drop. Thereby impacting the fund
performance.
2. Non-market Risk
Bad news about an individual company can pull down its stock price, which can
negatively affect fund holdings. This risk can be reduced by having a diversified portfolio
that consists of a wide variety of stocks drawn from different industries.
3. Interest rate Risk
Bond prices and interest rates moves in opposite directions. When interest rates rise,
bond prices fall and this decline in underlying securities affects the fund negatively.
4. Credit Risk
Bonds are debt obligation. So when the funds invested in corporate bonds, they run the
risk of corporate defaulting on their interest and principal paymen obligations and when that risk

crystalizes, it leads to a fall n the value of the bond causing the NAV of the fund to take a
beating.

CHAPTER 3
OBJECTIVES OF THE STUDY

OBJECTIVES OF THE STUDY
 The objective of the research is to study the perception towards MUTUAL FUND
services on ICICI Direct and level of awareness.
 To know the investor‟s awareness about investment in Mutual Fund on ICICI Direct.
 To make people aware about ICICI Direct and its presence in MUTUAL FUNDS
 To know why investors are not investing in Mutual Fund.
 To study the factors considered by the investors and those which ultimately influence him
while investing.
 To determine the type of Mutual Fund investors prefers to invest in most.

ICICI SECURITIES
ICICI Securities Ltd is an integrated securities firm offering a wide range of services including
investment banking, institutional broking, retail broking, private wealth management, and
financial product distribution.
ICICI Securities sees its role as 'Creating Informed Access to the Wealth of the Nation' for its
diversified set of client that includes corporates, financial institutions, high net-worth individuals
and retail investors.
Headquartered in Mumbai, ICICI Securities has 250 stores across 66 cities in India and global
offices in Singapore and New York.
ICICI Securities empowers over 2 million Indians to seamlessly access the capital market with
ICICIdirect.com, an award winning and pioneering online broking platform. The platform nit
only offer convenient way to invest in Equity, Derivatives, and Currency Futures, Mutual Funds
but also other services Fixed Deposits, Loans, Tax Services, New Pension System and Insurance
are available. ICICIdirect.com offers a covenant and easy to use platform to invest in equity and
various financial instruments using its unique 3-in-1account which integrates customer‟s savings,
trading and Demat account.
Apart from convenience, ICICIdirect.com also offers access to comprehensive research
information, stock picks and Mutual Funds recommendations among other offerings. Tailored
services and trading strategies are available to different types of customers; long term investors,
day traders, high volume traders and derivatives traders to name some.
ICICI Securities Inc., the step-down wholly owned US subsidiary of the company is a member of
the Financial Industry Regulatory Authority (FINRA) / Securities Investors Protection
Corporation (SIPC). ICICI Securities Inc. activities include Dealing in Securities and Corporate
Advisory Services in the United States.
ICICIdirect.com uses the most advanced commercially available 128-bit encryption technology
enabled Secure Socket Layer (SSL). To ensure that the information transmitted between the
client and ICICIdirect.com across the internet is safe and cannot be accessed by any third party.
ICICIdirect.com is the first broker‟s in India to introduce “Digitally Signed Contract Note” to its
customers. As a result, the process of generating contract notes has been automated and the same
would be instantly available to its customers in a safe and secure manner through the website.
ICICI Securities has set-up neighborhood financial stores which offer a variety of financial
products and services under one roof. It is a one-stop shop that facilitates existing and potential
customer to speak to our team and understand their financial plans and goals. ICICI Securities
Inc. is also registered with the Monetary Authority of Singapore (MAS) and operates a branch
office in Singapore.
More about ICICIdirect.com
 IF I invest in Equity:

 A unique 3-in-1 On-line Trading Account
Seamless, Secure and Integrated 3-in-1 trading platform...
Our 3-in-1 online trading platform links your banking, trading and demat
accounts, ensuring unmatched convenience for customers.
With an ICICIdirect.com account, you get the following benefits:
a) Seamless Trading
You can trade in shares without going through the hassle of tracking
settlement cycles, writing cheques and transfer instructions. Absolutely
hassle free!
b) Security
Instead of transferring monies to a broker's pool or towards deposits, you
can manage your own demat and bank accounts when you trade through
ICICIdirect.com. It provides you the flexibility to pay only when you
trade.
c) Wide range of products
Share trading in both NSE and BSE, innovative offerings like - Margin,
MarginPlus, BTST, and SPOT. Derivatives trading, overseas trading,
mutual funds, mutual funds, IPOs and on-line life insurance.
d) Award Winning Research
We understand the need for the right research to make the right investment
decision and have focused heavily in this area.
Our team with its consistent delivery has been voted as the 'Most preferred
brand of financial advisory services' at the CNBC Awaaz Consumer
Awards, 2007.
e) Control
You can be rest assured, that your order will be precisely for the amount
you wanted it to be, without any deviation, giving you full control of your
money and your trades
f) Tracking and Review
Monitoring your investments is as important if not more than making that
investment itself. Our portfolio tracker and watchlist along with sms alerts
will always keep you updated on the status of your investments with us
and act on them when required.

 IF I don’t invest in Equity
 A unique 2-in-1 On-line Trading Account
A Unique 2-in-1 account that gives you:
a. Convenience
The 2-in-1 account integrates your banking and investment accounts.
When you invest, the system checks for the funds in your account and then
executes your request online. The bank account is automatically debited or
credited. This enables you to invest without going through the hassles of
filling up long forms, writing cheques, following up with different brokers
for different investments etc.
b. Speed
Your investment reduces to choosing the investment option and a few
clicks and your investment request is placed online instantly!
c. Control
A comprehensive account for all your investment needs thereby giving
you control over your investments!
d. Rich Content
ICICIdirect.com offers rich content on mutual funds and helps you take
informed decisions
e. Trust
ICICIdirect.com comes to you from ICICI, the organization trusted by
millions of Indians.
f. Tracking and Review
Monitoring your investments is as important if not more than making that
investment itself. Our portfolio tracker and watch list along with sms alerts
will always keep you updated on the status of your investments with us
and act on them when required.

Awards and Recognition
 ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' for 10th time in a
row in 2014. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009, 2010,
2011, 2012 and 2013.
 ICICIdirect won the Franchisor of the year award 2014
 ICICIdirect won the BSE - D&B Equity Broking Awards 2014
 ICICI Securities won the Award for Outstanding Social Impacts at the Global
Sustainability Leadership Awards 2014 These awards recognize institutions for their
contribution to the society in their domain as well as businesses that deliver products and
services in ways that takes full account of their responsibility towards the communities
they touch.
 Ranked 2 at the THOMSON REUTERS STARMINE ANALYST AWARDS 2014 - TOP
BROKERS
 ICICI Securities was awarded the "MOST ADMIRED SERVICE PROVIDER IN
FINANCIAL SECTOR” at the BANKING FINANCIAL SERVICES & INSURANCE
AWARDS 2014 presented by ABP News.
 ICICIdirect.com won the Mobbys award for the "Best Mobile application in Mobile
Trading".
 ICICI Securities Business Partners has been conferred the Franchise India Awards 2013,
for being the 'Franchisor of the year' in the Financial Services category.
 ICICIdirect.com, won the award for Innovation at Banking Frontiers Finnoviti Awards
2013. The award was conferred on ICICIDirect' for its `Valid Till Cancel Order' (VTC)
facility, which was awarded amongst the top 3 innovations in BFSI industry by 'Peer
Voting'.
 ICICI Securities won the Outlook Smart use Technology eRetailer of the year
2013 conferred by FIHL in association with HomeShop18.com.
 ICICIdirect.com won the 'Stock Broker of the Year' award at the Money Today FPCIL
Awards 2012
 ICICI Securities Business Partners (Sub Broker channel) won the 'Franchisor of the Year'
at the Franchise Awards 2012 for the fourth time in a row.
o ICICI Securities won the 'BSE IPF D&B Equity Broking Awards 2012' under two
categories:
 Best Equity Broking House - Cash Segment
 Largest E-Broking House
 ICICI Securities won the Chief Learning Officer Award from World HRD Congress for
Innovation in learning category.

 ICICI Securities won the Grand Jury Award for 'Commendable performance by National
Financial Advisor (Retail) - Online' at the CNBC TV 18 - Financial Advisor Awards
2011. The awards recognize India's best Financial Advisors.
 ICICI Securities Business Partners (Sub Broker channel) won the 'Franchisor of the Year
at the Franchise Awards 2011', third time in a row.
 ICICI Securities was the winner of the „Smart use Technology eRetailer of the year'
2012 award conferred by Franchise India in association with UTV Bloomberg for the
first time.
 ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' seventh time in a
row. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009 and 2010.
 ICICI Securities' Business Partners (Sub Broker channel) won the 'Franchisor of the Year
2011' for the third consecutive year.
 Anup Bagchi, MD & CEO has been honoured with the Zee Business 'Industry
Newsmaker Award 2010' for his tremendous and unmatched contribution in the field of
Finance
 Pankaj Pandey, Head- Research - ICICIdirect has won the Zee Business Best Market
Analyst 2010 award in the Equities Fundamental Category
 CMO Asia Awards for Excellence in Branding and Marketing 2010:
o Brand Leadership Award (overall)
o 'Campaign of the Year' for the Trade Racer Campaign
o Brand Excellence in Banking and Financial Services for the store format
o Award for Brand Excellence in the Internet Business
 Franchisor of the year award 2009
 Retail concept of the year awards 2009
 Frost and Sullivan 2009 Award for Customer Service Leadership
 ICICIdirect, the neighborhood financial superstore won the prestigious Franchise India
`Service Retailer of the Year 2008 award.
 ICICIdirect has also won the CNBC AWAAZ 2007 Consumer Award for the Most
Preferred Brand of Financial Advisory Services.
 Best Broker - Web 18 Genius of the Web Awards 2007
 Institutional
 ICICI Securities awarded the Asiamoney `Best Domestic Equity House' for 2012

 Vikash Mantri tops The Wall Street Journal's Asia's Best Analysts survey in the media
sector for 2010
 ICICI Securities has awarded as the Best Investment Bank 2008 by Global Finance
Magazine
 The Corporate Finance group also was awarded a runner-up Best Merchant Banker by
Outlook Money in 2007.
 ICICI Securities topped the Prime Database League Tables 2007 for money raised
through IPOs/FPOs.
 The equities team was adjudged the 'Best Indian Brokerage House-2003' by Asiamoney.
 Technology
 ICICI Securities Ltd was awarded the The Indian Merchants Chamber - IT Awards 2015
for the category "End Users of IT" by the Indian Merchants? Chamber under the BFSI
domain.
 ICICI Securities recently won the Innovation Award for Oracle Fusion Middleware.ICICI
Securities has consistently demonstrated the best usage of Oracle Tuxedo as an OLTP
engine. These Asia-Pacific awards honor customers for their optimum and innovative
solutions using Oracle Fusion Middleware.
 Fairfax Business Media has recognized ICICI Securities as a recipient of CIO 100 Asia
award in 2013.
 ICICI Securities has been awarded the NASSCOM IT Innovation Awards 2013.
 CIO Masters for Collaboration and Cloud was awarded by Biztech2 (Network 18) in
2013.
 ICICI Securities has been conferred by Dataquest in 2012
o Business Technology Excellence award
o Business Technology Innovation award
 IDG India has recognized ICICI Securities as a recipient of CIO 100 award in 2009,
2010, 2011 and 2012, four times in a row.
 IDG India has conferred the CIO Hall of Fame award in 2012.
 EMC Transformers Award was presented for best use of IT to transform business in 2012
 CIO Masters for Virtualization was awarded by Biztech2 (Network 18) in 2012
 ICICI Securities was the Bloomberg UTV CXO Awards Finalist for Best Utilization of
IT to Transform Business in 2011

 ICICI Securities was conferred the Gold CIO award jointly by CIOL and Dataquest at the
Enterprise Awards 2010
 ICICI Securities was the NASSCOM CNBC IT User Awards Finalist in 2009 and 2010
 Indian Bank's Association Business Technology Awards was presented for Best Online
Trading Platform in 2006 and 2007

Ippolito R. A. (1992)
Concluded that the investors prefer mutual funds which have a record of positive return in the
past.
Lenard et. al. (2003)
Empirically investigated investor‟s attitudes toward mutual funds. The results indicate that the
decision to switch funds within a fund family is affected by investor‟s attitude towards risk,
current asset allocation, investment losses, investment mix, capital base of the fund age, initial
fund performance, investment mix, and fund and portfolio diversification. The study reported
that these factors are crucial to be considered before switching funds regardless of whether they
invest in non-employer plans or in both employer and non-employer plans.
Bollen (2006)
Studied the dynamics of investor fund flows in a sample of socially screened equity mutual
funds and compared the relation between annual funds flows & lagged performance in SR funds
to the same relation in a matched sample of conventional funds. The result revealed that the
extra-financial SR attribute serves to dampen the rate at which SR investors‟ trade mutual funds.
The study noted that the differences between SR funds and their conventional counterparts are
robust over time and persist as funds age. The study found that the preferences of SR investors
may be represented by conditional multi-attribute utility function (especially when SR funds
deliver positive returns). The study remarked that mutual fund companies can expect SR
investors to be more loyal than investors in ordinary funds.
Walia and Kiran (2009)
Studied investor‟s risk and return perception towards mutual funds. The study examined
investor‟s perception towards risk involved in mutual funds, return from mutual funds in
comparison to other financial avenues, transparency and disclosure practices. The study
investigated problems of investors encountered with due to unprofessional services of mutual
funds. The study found that majority of individual investors doesn‟t consider mutual funds as
highly risky investment. In fact on a ranking scale it is considered to be on higher side when
compared with other financial avenues. The study also reported that significant relationship of
interdependence exists between income level of investors and their perception for
investment returns from mutual funds investment.
Saini et., al. (2011)
analyzed investor‟s behavior, investors‟ opinion and perception relating to various issues like
type of mutual fund scheme, its objective, role of financial advisors / brokers, sources of
information, deficiencies in the provision of services, investors‟ opinion relating to factors that
attract them to invest in mutual and challenges before the Indian mutual fund industry etc. The
study found that investors seek for liquidity, simplicity in offer documents, online trading,
regular updates through SMS and stringent follow up of provisions laid by AMFI.

Singh (2012)
Conducted an empirical study of Indian investors and observed that most of the respondents do
not have much awareness about the various function of mutual funds and they are bit confused
regarding investment in mutual funds. The study found that some demographic factors like
gender, income and level of education have their significant impact over the attitude towards
mutual funds. On the contrary age and occupation have not been found influencing the investor‟s
attitude. The study noticed that return potential and liquidity have been perceived to be most
lucrative benefits of investment in mutual funds and the same are followed by flexibility,
transparency and affordability.
Kalpesh P Prajapati and Mahesh K Patel (2012)
Evaluated the performance of Indian mutual funds using relative performance index, risk-return
analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure, and Fama's measure.
The data used is daily closing NAVs from 1st January 2007 to 31st
December, 2011 and
concluded that most of the mutual funds have given positive return during the period of study.
Shivani Inder and Shikha Vohra (2012)
The paper evaluates the long run performance of the selected index fund schemes and make
comparative analysis of the performance of these funds on the basis of the risk-return for the
period of 6 years (January, 2005 to December, 2011). The results indicate that index funds are
just the follower of market. They try to capture market sentiments, good as well as bad, and thus
perform as the market performs.

CHAPTER 6
RESEARCH METHODOLOGY

Primary sources for data collection will be used for the presnt study. On the basis of the
information gathered, a well designed pretested interview schedule will be drafted and used in
the field survey to collect primary data, before undertaking the main survey a tentative.
Primary Source:
Primary data had been collected by approaching the investors (Survey Method)
Secondary Source:
The sources of data are internet, magazines, newspaper, reference books, etc.
Need for the study
This study is know the customer perception and level of awareness about the mutual fund
and how customers are investing their funds in the different like equity market, fixed deposit,
insurance etc. and thereafter to know how the customer investing online of offline mode and
what the reasons for not investing by ICICIDirect.com.
Data Set and Sample
The study suffers from certain limitations, although. The researcher will make every
possible for comprehensive study of investment pattern degree of risk and returns to investors.
Yet, non-availability of adequate information may be key limitation in few cases. The present
study is confined only the area of DELHI NCR. Thus the findings can be generalized only to
certain extent.

RESEARCH DESIGN
Type of Research Design : Descriptive Research Design
Research Equipment : Questionnaire
Sampling Technique : Non- probability Technique-
convenience sampling method
Sample Size : 70 samples
Sample Design : Data has been presented with the
help of bar graph,pie-charts, line
graphs etc.
Area of Research : DELHI NCR

Factor Analysis
Principal component factor analysis with Varimax rotation and Kiser normalization was applied.
The factor analysis of 8 factors converged into 3 factors. The details about the factors, the factor
name, variable number, variable convergence and their Eigen value is given in the table given
below.
KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .666
Bartlett's Test of Sphericity Approx. Chi-Square 39.553
df 28
Sig. .072

Component
Initial
Eigenvalues
Extraction
Sums of
Squared
Loadings
Rotation
Sums of
Squared
Loadings
Total
% of
Variance
Cumulative
% Total
% of
Variance
Cumulative
% Total
% of
Variance
Cumulative
%
1 1.847 23.086 23.086 1.847 23.086 23.086 1.610 20.119 20.119
2 1.240 15.500 38.586 1.240 15.500 38.586 1.286 16.081 36.200
3 1.130 14.128 52.715 1.130 14.128 52.715 1.192 14.896 51.096
4 1.057 13.206 65.921 1.057 13.206 65.921 1.186 14.825 65.921
5 .913 11.410 77.331
6 .653 8.163 85.494
7 .617 7.707 93.201
8 .544 6.799 100.000

Kaiser-Meyer-Olkin Measure of Sampling Adequacy: It is an index used to examine two
things:
1. Sample size is adequate.
2. Factor analysis is applicable or not.
Value lying between 0.5 to 1, indicate the validity of the above two statements.
Here, KMO Value is .666> 0.5
Thus, sample size is adequate and factor analysis can be applied.
Bartlett's Test of Sphericity: This test is used to examine the hypothesis that variables are not
correlated with each other.
Factor name
Eigen value
VARIABLE
CONVERGENCE
LOADING
VALUE
TOTAL % OF
VARIANCE
Wealth
1.1610 20.119
SAFETY 0.726
TAX_SAVING 0.806
Strategies
1.286 16.081
Performance_schemes 0.079
Rating_Agencies 0.807
Presence
1.192 14.896
Advertisements 0.827
Recommendation 0.660
Easy-Money
1.186 14.825
Liquidity 0.557
Return_Earned 0.273
INTERPRETATION:
So the Four factors evolved are:
a) Wealth
b) Strategies
c) Presence
d) Easy-Money

Eigen Values: In this approach, only factors with Eigen Values greater than 1.0 are retained. An
Eigen Value represents the amount of variance associated with the factor.
Percentage of Variance: In this approach, the number of factors extracted is determined so that
the cumulative percentage of variance extracted by the factors reaches a satisfactory level.
Hence, here Four values are greater than 1. The factor accounts for the total variances of
65.921%
Factor Matrix: In this, the factors that were identified and clubbed in Component Matrix are
given a common name i.e. Factor name. Here, Four factors came out, name of which is
Information.
Crosstabs
Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
Age * Invested_last_12_months 70 100.0% 0 .0% 70 100.0%
Occupation *
Invested_last_12_months
70 100.0% 0 .0% 70 100.0%

Age * Invested_last_12_months
H0: There is no relationship in perception about the customer age with respect to investment last
12 months
H1: There is exist a relationship in perception about the customer age with respect to investment
last 12 months
Crosstab
Count
Invested_la
st_12_mont
hs Total
Equity Mutual fund insurance FD PPF others
Age less than
25
1 0 2 2 0 0 5
25-35 1 4 12 22 3 2 44
35-45 2 1 8 9 0 0 20
45 Above 0 0 0 1 0 0 1
Total 4 5 22 34 3 2 70

Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
Pearson Chi-Square 8.975
a
15 .879
Likelihood Ratio 10.747 15 .770
Linear-by-Linear Association .310 1 .578
N of Valid Cases 70
INTERPRETATION
As we see the p-value is more than 0.05, we accept Ho, which means that There is no
relationship in perception about the customer age with respect to investment last 12
months

Occupation * Invested_last_12_months
H0: There is no relationship in perception about the customer Occupation with respect to
investment last 12 months
H1: There is exist a relationship in perception about the customer occupation with respect to
Crosstab
Count
Invested_l
ast_12_m
onths
Total
equity Mutual
fund
insurance FD PPF others
Occupation Govt. job 0 0 2 9 2 1 14
self
employe
d
2 2 6 11 0 0 21
private
job
2 3 14 14 1 1 35
Total
4 5 22 34 3 2 70
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
a
10 .291
Linear-by-Linear Association 4.655 1 .031
N of Valid Cases 70

INTERPRETATION
As we see the p-value is Less than 0.05, we Accept Ho, which means that There is no
exist a relationship in perception about the customer occupation with respect to

T-Test
One-Sample Statistics
N Mean Std. Deviation Std. Error Mean
Return_earned 70 3.79 .740 .088
Interpretation :
Here the no of respondents is 70 and the mean for Awareness comes out to be 4(approx.),which
means that the sample is returned earned in Mutual Fund. Now in order to conclude this result of
population we apply one sample T-test.
One-Sample Test
Test Value = 4
t df Sig. (2-tailed) Mean Difference
95% Confidence Interval of the
Difference
Lower Upper
Return_earned -2.423 69 .018 -.214 -.39 -.04
Interpretation:
Ho: µ = 4
H1: µ ≠ 4
Here Tcal comes out to be -2.423 with d.f = (70-1)= 69.
p-value = .018
α = .05
If p-value is greater than Alpha than we accept the Null hypothesis(Ho) otherwise reject it.
Here p-value(.018) > α(.05),therefore we Reject the null hypothesis.
Thus the mean responses is not 4(Agree) in mutual fund return.

ANNOVA- ONE WAY
We have determined the investment in last 12 months among various categories of users by
using One way Anova.
ANOVA
Occupation
Sum of Squares df Mean Square F Sig.
Between Groups 1.140 3 .380 .603 .615
Within Groups 41.560 66 .630
Total 42.700 69
Invested_last_12_months
Frequency Percent Valid Percent
Cumulative
Percent
Valid equity 4 5.7 5.7 5.7
Mutual fund 5 7.1 7.1 12.9
insurance 22 31.4 31.4 44.3
FD 34 48.6 48.6 92.9
PPF 3 4.3 4.3 97.1
others 2 2.9 2.9 100.0
Total 70 100.0 100.0

Interpretation:
H0: No difference in the investment in last 12 months among various level in different categories
of users.
H1: There exists a difference.
Fcal: .603
P-value = .615
α = .05
As we can see that p-value(.615) < α(.05),so we reject the null hypothesis(H0).
Thus we conclude that there exists a difference the investment in last 12 months among various
level in different categories of users in different investment.

Crosstabs
Age * Way_MF
H0: There is no relationship in perception about the customer age with respect to
different ways of investment in Mutual Fund through various sources.
H1: There is exist a relationship in perception about the customer age with respect to
Crosstab
Count
Way_MF
Totalthrough banks through AMC through Brokers
Age less than 25 5 0 0 5
25-35 39 3 2 44
35-45 20 0 0 20
45 Above 1 0 0 1
Total 65 3 2 70

Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
a
6 .786
Linear-by-Linear Association .668 1 .414
N of Valid Cases 70
INTERPRETATION
As we see the p-value is more than 0.05, we accept Ho, which means that there is no
relationship in perception about the customer age with respect to different ways of
investment in Mutual Fund through various sources.

Occupation * Way_MF
H0: There is no relationship in perception about the customer occupation with respect to
H1: There is exist a relationship in perception about the customer occupation with respect to
Crosstab
Count
Way_MF
Totalthrough banks through AMC through Brokers
Occupation Govt. job 13 0 1 14
self employed 18 2 1 21
private job 34 1 0 35
Total 65 3 2 70
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
a
4 .347
Linear-by-Linear Association 1.799 1 .180
N of Valid Cases 70

INTERPRETATION
As we see the p-value is less than 0.05, we Accept Ho, which means that there is no exist
a relationship in perception about the customer occupation with respect to different
ways of investment in Mutual Fund through various sources.

From the study we can understand that the customers are not investing in Mutual Fund
through ICICIDirect.com here some findings are there.
 Maximum customer are investing in the Insurance as well as Fixed deposit whether they
are expertise knowledge or not but they investing in the Mutual Fund where their money
is invested by the expert fund Manager.
 Reasons for not investing in the Mutual Fund is only 87.14% of the customers are aware
about that Mutual Funds are also available on the online Portal of ICICIDirect.com rest
of 12.86% do not Know about that. For this regard the reason behind the where they are
not investing in Mutual Funds are to Lack of aware ness as well as high transaction
charges applied on ICICIDirect.com
 ICICI SECURITIES is charging for the buying Mutual Fund where online AMC‟S are
not charging for buying and know a day‟s all AMC‟S are having their own online portal
and giving facility to purchase and sale of mutual fund.
 The performance check of the investment by the customer/investor generally shows the
72.85% goes for the update investment detail on third party website.
 After the DEMO, 47.14% investors are ready to invest in Mutual Fund by
ICICIDirect.com and thereafter the preference for the Mutual Fund 41.43% in Equity
Fund followed to 31.43% in Debt Fund and 27.14% are prefer the balance fund
investment.
 Last but not least, Important factor are consider by the Investor/Customer before
choosing an Investment in Mutual Fund, 55.71% refers the wealth creation, then 24.29%
go for the opportunity for steady growth and rest 20 % refers the safety of investment
principle.

From this study we can say that the customer pf the ICICI SECURITIES are aware about
the Mutual Fund investment so, still they are not investing in the Mutual Fund and the second
reason for not investing in the Mutual Fund through ICICIDirect.com is the charges that ICICI
SECURITIES are taking for any Mutual Fund investment.
Talking about the services of the ICICI SECURITIES that are too good, the response of
the customer is positive with the services. ICICIDirect.com is the No.#1 platform for the
Investment.
Many people do not invest in Mutual Fund due even awareness presence in the arena
through they have money to invest. As the awareness and income is growing number of Mutual
Fund Investors are also growing. Here “Brands” plays an important role for the investment.
People invest in those companies where they have faith or which are well known with them so
ICICIDirect.com provides satisfactory services to the customer.
For any new investor the site is user friendly so easily he/she can understand and invest
properly and If he/she can‟t predict the market than personalized research is also given in the site
so ICICIDirect.com is one of the best portals for online Investment.

After going through practical training in ICICI SECURITIES for making the analytical report
of a company. I would like to conclude some suggestion in order to achieve the targets and to
make its customer brand loyal.
 ICICI SECURITIES is giving the best services that any broker can provide but their
charges are high in comparison of any broker so the main suggestion to the company ids
to reduce the charges if there is no compromise with the services.
 The most vital problem spotted is to ignorance. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convicted. Investors should be
made to realize that ignorance is no longer bliss and what they are losing by not
investing.
 Mutual Funds offer lot of benefits which no other single option could offer. But most of
the people are not even aware of what actually a mutual fund is? They only see it as just
another investment option. So the advisors should try to change their mind sets. The
advisors should target for more and more young investors. Young investors as well as
persons at the height of their career would like to go for advisors due to lack of expertise
and time.
 Employees are opening account of new customers but they are not taking follow up those
customers are really taking the advantage of the services of the or not and there are many
accounts of the customer even they have not logged in once from the opening of the
accounts.
 Mutual Fund Company needs to give the training of the Individual Financial Advisors
about the fund/scheme and its objective, because they are the main sources to influence
the investors.
 87.14% of the customer are aware about the services of Mutual Fund are also available
on portal of ICICIDirect.com so lack in assistance should be done for the customers.
 Systematic Investment Plan (SIP) is one the innovative products launched by Assets
Management Companies. SIP is easy for monthly salaried persons as it provides the
facility of do the investment in EMI. Through most of the prospects and potential
investors are not aware about SIP. There is a large scope for the companies to tap the
salaried persons.

ANNEXURE
QUESTIONNAIRE
Dear Respondents,
I am the student of PGDM first year studying at IMS- GHAZIABAD. We are conducting a
survey about “Mutual Fund Simplified - To Study the Perception towards Mutual Fund
Services on ICICI Direct and Level of Awareness”. This project is a part of PGDM curriculam
& I would like to have your co-operation & full support to complete it so I would like to provide
us with your valuable view and options.
Name __________________________
Age*
less than 25
25-35
35-45
above 45
Occupationred
Govt. job
Self employed
Private job
agricultural
Have you invested in any of following instrument in last 12 months*Required
Equity
Mutual Fund
Insurance
Fixed Deposit
Debentures
PPF
Others
Which is your prefered mode of Investment*Re quired

Online
Offline
Both
Never Access
Are you aware aware about Mutual Funds
Yes
No
If Yes, do you invest in Mutual fund
Yes
No
How would you prefer to make your investment in Mutual Funds*Required
through Banks
through AMC
through Distribuition channels
through Brokers
Others
Before DEMO, Were you aware that you can invest in MF Through ICICI DIRECT*Required
yes
no
If Yes, What are the resons for not investing in MF through ICICI Direct.com
Need it more assistance
Need it more knowledge
Not interested to invest by ICICI Direct
Do not investing in mutual fund
Now, after DEMO would you like to Invest through ICICI Direct
Yes
No
If NO,why do you not invest in MF

lack of awareness
higher risk
high transaction charges
not support of Relationship Manager
No specific reason
How do you check the performance of all/any of your investments*Required
Update investment details on third party websites
Ask financial advisor/ Realtionship Manager
My broker provides me the information
Others
which of the folowing site features did you find useful in DEMO*Required
Capital Gain Staetment
Portfolio Monitoring
Ease of Purchase and Redemption
Personalized Research
Others
Preference towards the type of MF investment*Required
Equity Fund
Debt Fund
Balance Fund
Others

Important factors to you consider before choosing an investment in MF?
Safety of investment principle
Opportunity for steady growth
Liquidity
Wealth Creation
Do you agree following factor/sources of information are important while investing in
mutual fund.*Required
strongly agree agree Nuteral disagree
Highly
disagree
Safety
liquidity
returned
earned
tax saving
performance of
past schems
rating of MF
by Agencies
advertisement
recommendation
of friends and
relatives

BIBLIOGRAPHY
 www.icicidirect.com
 www.icicisecurities.com
 www.sebi.gov.in
 www.investopedia.com
 www.moneycontrol.com
 www.indianmba.com

Mutual fund Simplified- To study the Perception Towards Mutual Fund Services on ICICI Direct and Level of Awareness

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Mutual fund Simplified- To study the Perception Towards Mutual Fund Services on ICICI Direct and Level of Awareness