BIRLA INSTITUTE OF TECHNOLOGY,

MESRA

PROJECT REPORT ON

“MUTUAL FUND SIMPLIFIED”

Submitted to
ICICI SECURITIES, PATNA
KIDWAIPURI

In partial fulfilment of the requirements for the award of the

Degree of

Master of Business Administration

In

MARKETING AND FINANCE

By

ANURAG ANAND
MBA- 2015-17

1
BIRLA INSTITUTE OF TECHNOLOGY, MESRA RANCHI
CERTIFICATE OF ORIGIN

This is to certify that ANURAG ANAND, a student of MBA BIRLA INSTITUTE OF

TECHNOLOGY, MESRA RANCHI under fulfilment of the course has successfully done his
project on MUTUAL FUND SIMPLIFIED of ICICI SECURITIES, PATNA from 16th
May to15th July. During the period we found him sincere and hardworking.

We declare that the work done by him is his own and original to the best of our knowledge.

We wish him success and bright future in life.

Authorized signatory

Name-AMULLYA BISWAS

Manager Business Development- East

ICICI SECURITIES

(Signature)

2
 DECLARATION

I, ANURAG ANAND, student of MBA, Marketing and finance, here by declare that the
Summer Internship Report titled “MUTUAL FUND SIMPLIFIED” which is submitted by
me to ICICI Securities, PATNA in partial fulfilment to requirement for the award of degree
of Master of Business Administration has not been previously formed the basis for toward
of any degree, diploma or other similar title or recognition.

PATNA ANURAG ANAND

Date-15/7/2016 BIT ,MESRA
RANCHI

3
 ACKNOWLEDGEMENT

It is my proud privilege to release the feelings of my gratitude to several persons who helped
me directly or indirectly to conduct this project work. I express my heart full in debt and owe
a deep sense of gratitude to my project mentor Mr Amullya Biswas (Manager Business
Development- East,ICICI SECURITIES) for their sincere guidance and inspiration in
completing this project.

I am also extremely thankful to all those persons who have positively helped me and ICICI
Securities customers who gave their precious time for me to watch the video and to fill the
feedback.

I also thank all my friends who have more or less contributed to the preparation of this
project report. I will be always indebted to them.

Thanking you

ANURAG ANAND

4
 PREFACE

This project has been undertaken in the partial fulfilment of our internship require during the
pursuance of MBA from Birla Institute Of Technology Mesra , Ranchi.

Practical internship is an essential part of every professional program. It is very helpful in

proving knowledge for the practical aspects of academic studies.

In the project title “MUTUAL FUND SIMPLIFIED” the area covered includes Marketing.
It has been my endeavour to bring out the procedure regarding efficient collection of
information, its presentation; and also the decision making process arising they’re from.

5
 EXECUTIVE SUMMARY

This project report presents a study on “Mutual funds Simplified”. An Investor Awareness
initiative by ICICI Securities. This project has been prepared as part of summer training in
ICICI Securities. ICICI Securities ltd is one of the largest broker in the country and also
Mutual Fund distributor. It provides more than 26 financial instruments in which one can
invest to grow his/her wealth. The study is done for Spreading Awareness on the investments
in Mutual funds on the fingertips. The Project gave me a great learning experience and at the
same time it gave me enough scope to implement my theoretical knowledge in Practical
manner and helped in learning the client’s interaction as well as online investments in Mutual
Funds. This project undertaken deals with customer perception with regard to mutual funds
that is the schemes they prefer, the plans they are opting, the reasons behind such selections
and also this project dealt with different investment options, which people prefer along with
and apart from mutual funds. Like postal saving schemes, recurring deposits, bonds, and
shares. The findings from this project is that most of the people are hesitant in going for new
age investments like mutual funds and prefer to avert risks by investing in less riskier
investment options like recurring deposits and so. This Project report also gives detail study
about ICICI direct, ICICI Group and working of ICICI direct. This Project is done through
one to one interaction with the clients and helping them out in understanding Mutual Funds
and their Investments.

6
 TABLE OF CONTENTS

Chapter 1- Introduction to Company………………………………………….10

 1.1 About The Company………………………………………10

 1.2 Overview…………………………………………………...11
 1.3 ICICI Group………………………………………………..12
 1.4 Global Presence…………………………………………….17
 1.5 Vision Mission……………………………………………....18
 1.6 Major Components…………………………………………23
 1.7 ICICI Direct………………………………………………...29
 1.8 Mutual fund…………………………………………………39

Chapter 2- Research Methodology……………………………………………44

 2.1 Research Objective…………………………………………..45

 2.2 Statement Of Problem……………………………………….46
 2.3 Analysis And Outcome………………………………………47

Chapter 3- Limitation of Study…………………………………….……..……..49

Chapter 4- Findings…………………………………………………….….…….50

Chapter 5- Suggestions and Recommendation…………………………………..51

Chapter 6- Conclusion………………………………………………….………..52

7
 List of Tables
1.1 Company profile…………………………………..………………………………10

1.2 Report Analysis…………………………………………………….……………...47

8
 List of Figures
1.1 ICICI Group………………………………………………………..12

1.2 Geographical spread of customers of

ICICI……………………………………………………………...13
1.3 Pie Chart on report………………………………………………….47

9
 CHAPTER- 1
INTRODUCTION TO COMPANY

TRAINING ORGANISATION AND ITS OPERATIONAL

STRUCTURE

TABLE 1.1

Company Name ICICI Securities

Founded In 1995

Parent Company ICICI Limited

Headquarter Mumbai

Chairperson Mrs. Chanda D. Kochhar

Managing Director Mr. Anup Bagchi

Website www.icicisecurities.comwww.icicidirect.com

1.1 ABOUT THE COMPANY:

ICICI Securities Limited provides various investment banking products and services to
corporate, financial institutions, and retail investors in India and internationally. It
provides corporate finance services to corporations, financial institutions, financial
sponsors, and government, which include equity capital market products, such as initial
public offerings (IPO), further public offerings, rights offerings, convertible offerings,
qualified institutional placements, non-convertible debentures, buyback, delisting, and
open offers and international offerings for unlisted and listed entities. The company also
offers mergers and acquisitions advisory services; and private equity advisory.

10
 1.2 OVERVIEW

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
corporate, financial institutions, high net-worth individuals, and retail investors.
Headquartered in Mumbai, ICICI Securities operates out of 66 cities and towns in India and
global offices in Singapore and New York. 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. ICICI Securities Inc. is also registered with the Monetary Authority of Singapore
(MAS) and operates a branch office in Singapore.

Brief about ICICI Group

The Industrial Credit and Investment Corporation of India Limited (ICICI) incorporated at
the initiative of the World Bank, the Government of India and representatives of Indian
industry, with the objective of creating a development financial institution for providing
medium-term and long-term project financing to Indian businesses. Mr A. Rama swami Mud
liar elected as the first Chairman of ICICI Limited. ICICI emerges as the major source of
foreign currency loans to Indian industry. Besides funding from the World Bank and other
multi-lateral agencies, ICICI was also among the first Indian companies to raise funds from
international markets.

11
1.3ICICI GROUP

1. ICICI Bank

2.ICICI Prudential Life Insurance Company

3.ICICI Securities Limited

4.ICICI Securities Primary Dealership Limited

5.ICICI Lombard General Insurance Company

6.ICICI Prudential Asset Management Company

7.ICICI Venture

8.ICICI Home Finance Company

Figure1.1- ICICI group

12
  2.8 million customers
 Largest E-Brokerage House in India
 Customers across in 20 countries , 1255 cities and 8671 Pincodes
 53.3 bn Mutual Fund Asset Under Management
 Rs. 450 billion of Equity Holdings

ICICI Direct Advantage - One stop financial solutions provider

Comprehensive and integrated approach to manage your finances.

Value for Money Service excellence

Performance Seamlessly integrated Diversified customer
Award winning platform products base
Outstanding long term Investment management Customer focus
performer approach approach

Figure 1.3- ICICI Direct

13
Management Team

Ms. Chanda Kocher is the Managing Director and Chief Executive Officer of ICICI
Bank Limited, India’s largest private sector bank. She is widely recognised for her
role in shaping the retail banking sector in India and for her leadership of the ICICI
Group, as well as her contributions to various forums in India and globally.

Ms. Kocher began her career, with erstwhile ICICI Limited in 1984 and was
elevated to the Board of Directors of ICICI Bank in 2001. She was instrumental in
establishing ICICI Bank during the 1990s, and subsequently headed the
infrastructure finance and corporate banking business in ICICI Limited. In 2000,
she took on the challenge of building the nascent retail business, with strong focus
Ms. Chanda Kochhar
on technology, innovation, process reengineering and expansion of distribution
MD & CEO and scale. The Bank achieved a leadership position in this business. During 2006-
2007, she successfully led the Bank’s corporate and international banking
businesses during a period of heightened activity and global expansion by Indian
companies. From 2007 to 2009, she was the Joint Managing Director & Chief
Financial Officer during a critical period of rapid change in the global financial
landscape. She was elevated as Managing Director & CEO of ICICI Bank in 2009
and is responsible for the Bank’s diverse operations in India and overseas. She
also chairs the boards of the Bank’s principal subsidiaries, which include India’s
leading private sector life and general insurance companies.

She was conferred with the Padma Bhushan, one of India's highest civilian
honours, in 2011

Mr. N.S. Kannan is Executive Director of ICICI Bank. His responsibilities

include Finance, Treasury, Commercial Banking, Corporate Legal, Risk
Management, Secretarial, Corporate Communications, Corporate
Branding and Strategic Solutions Group. He also has the responsibility for
day to day administration of the Compliance and Internal Audit functions.
Mr. Kannan was Executive Director & CFO of ICICI Bank from May 1,
2009 to October 25, 2013. Prior to this assignment with the Bank, Mr.
Kannan was Executive Director of ICICI Prudential Life Insurance
Company. Mr. Kannan was earlier the Chief Financial Officer and
Mr. N. S. Kannan Treasurer of ICICI Bank.
Executive Director
.

14
Corporate Citizen (CSR)

The social initiatives programme of ICICI Securities has over the years focused
mainly on two areas: providing education and health to the poor and
marginalized children from our society. Under the aegis of ICICI Foundation,
ICICI Securities provides both financial and volunteering support to the
following two organisations:

Door Step School - One of the most long standing associations has been with
Door Step, a NGO focused on spreading education to children residing in the
slums. The Colaba Municipal School, which is managed by the Mumbai
Municipal Corporation along with Door Step, was adopted by ICICI Securities
in 2004. The firm not only provides funds for hiring teachers, books and other
educational needs but also encourages its employees to spend some quality time
with the children through various activities like Diya making during Diwali or
playing a cricket match with the children.

Muktangan - ICICI Securities has also adopted the pre-primary section of a

municipal school in Lower Parel, Mumbai. This school is run by the Paragon
Charitable Trust through their CSO called Muktangan. Managed in
collaboration with the Brihanmumbai Municipal Corporation (BMC),
Muktangan conducts its classes in English. ICICI Securities supports this
educational programme that offers alternatives to orthodox educational practices

15
 Board of Directors

ICICI Securities Limited

 Ms. Chanda D. Kochhar,Chairperson

 Mr. Uday Chitale, Independent Director
 Mr. Vinod Kumar Dhall, Independent Director
 Ms. Zarin Daruwala
 Ms. Shilpa Kumar
 Mr. Anup Bagchi, Managing Director & CEO
 Mr. Ajay Saraf, Executive Director

1.5.2 ICICI Securities Holding Inc

Mr.SankerParameswaran, Director

Mr.SriramIyer, Director

Mr. Warren Law

1.5.3 ICICI Securities, Inc

Mr.AnupBagchi, Chairman

Mr. Ajay Saraf

Mr.Subir Saha

Mr.Jaideep Goswami

Mr.Bishen Pertab

Mr.Rober

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1.4 Global Presence

ICICI Securities, Inc., Singapore

30 Cecil Street, #15-29, Prudential Tower,
Singapore - 049712
Contact details for Institutional Investors (Only)Tel: +65 6232 2452
Fax: +65 6232 2455

ICICI Securities Inc. New York

415 Madison Avenue Suite 1427
New York, NY 10017
Tel: 646-673-8549
Fax: 212-202-4012

ICICI Securities Limited., Oman

461 MHD Corporate Office Building,
Ground Floor P.O.Box:2451,
PC: 112, Ruwi, Sultanate of Oman
Tel No: +968-24769000

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1.5VISION & MISSION OF ICICI GROUP

Vision: To be the leading service provider of financial services in India.

Mission: We will leverage our people, technology, speed and financial capital to:

 Be the banker of first choice for our customers by delivering high quality, excellent
products and services.
 Expand the frontiers of our business globally.
 Play a proactive role in the full realisation of India’s potential.
 Maintain a healthy financial profile and diversify our earnings across businesses and
geographies.
 Maintain high standards of governance and ethics.
 Contribute positively to the various countries and markets in which we operate.
 Create value for our stakeholders.

Privacy Policy

ICICI is strongly committed to protecting the privacy of its customers.

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Award & Recognition

Retail

 ICICI Securities won the Award for Outstanding Social Impacts at the Global
 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.
 "MOST ADMIRED SERVICE PROVIDER IN FINANCIAL SECTOR at the
BANKING FINANCIAL SERVICES & INSURANCE AWARDS 2014 presented by
ABP News.
 ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' ninth time in a
row. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009, 2010,
2011, and 2012.
 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 ICICI Direct' for its `Valid Till Cancel
Order' (VTC ) facility, which was awarded amongst the top three innovations in BFSI
industry by 'Peer Voting'.
 ICICI Securities won the Outlook Smart use Technology e Retailer 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.
 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

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 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 e Retailer 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 – ICICI direct 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:

 Brand Leadership Award (overall)

 Campaign of the Year' for the Trade Racer Campaign
 Brand Excellence in Banking and Financial Services for the store format
 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
 ICICI direct, the neighbourhood financial superstore won the prestigious Franchise
India `Service Retailer of the Year 2008 award.
 ICICI direct 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

20
 Institutional

 ICICI Securities awarded the Asia money `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 Asia
money.

Technology

 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 honour 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

 Business Technology Excellence award

 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.

21
 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

22
1.6 Major Competitors

 HDFC Securities

 Kotak Securities

 SBI Capital

 Sharekhan Broker

 IDBI Capital

 HSBC InvestDirect

 Angel Broking

 Indiabulls Services

 Reliance Securities

 Bajaj Capital

23
ICICI Securities provides services in three sectors

1. Institutional
2. Private Wealth management
3. Retail

1. Institutional
ICICI Securities facilitates access to capital for the growth engine of the Indian economy
which is the corporate sector including large, medium and small enterprises; both from the
public and private markets.

1.1 Corporate finance

 Equity Capital Market
ICICI Securities has been at the forefront of capital markets advisory for several decades and
has been involved in most of the major public equity issuances in recent times. The company
was among the leading underwriters of Indian equity and equity linked offerings with
unparalleled execution capabilities. ICICI Securities provides end-to-end fund raising
solutions, from structuring to placement of the equity instrument. The firm's expertise include
Initial Public Offerings (IPOs), Further Public Offerings (FPOs), Rights Offerings,
Convertible Offerings, Qualified Institutional Placement (QIP), Non-convertible Debentures,
Buyback, Delisting, Open Offers and international offerings, for both, unlisted and listed
entities. ICICI Securities has successfully managed public issues of companies, which were
the first in their sector to tap the market - media both print and television, first Govt. of India
divestment IPO, first pure-play Internet Company in India, first mobile VAS Company, etc.
ICICI Securities was also involved in various pioneering issues in the Indian capital markets -
the first issue using the new alternate book-building (French Auction) method (NTPC), the
first issue of shares with Differential Voting Rights (Tata Motors), the first public issue of
Non-Convertible Debentures (Tata Capital), the first delisting using the reverse book-
building mechanism (Hewlett-Packard), etc. With offices across major financial centers (New
York, Singapore, Mumbai and Delhi), ICICI Securities delivers its products covering
corporate and investors across geographies.

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Key Recent Deals

 In FY2010, ICICI Securities has helped companies raise ~ US$ 1.86 billion through
QIPs and IPOs in FY2010 Some of the recent transactions include:
IPOs

 Jaypee Infratech: In 2010, Book Running Lead Manager, Rs. 22.6 bn

 A2 Z Maintenance & Engineering Services: In 2010, Book Running Lead Manager,
Rs. 8.6 bn
 Punjab & Sind Bank: In 2010, Book Running Lead Manager, Rs. 4.7 bn
 Claris Life Sciences : In 2010, Book Running Lead Manager, Rs. 3 bn
 Parabolic Drugs: In 2010, Book Running Lead Manager, Rs. 2 bn
 Commercial Engineers & Body Builders Co: In 2010, Book Running Lead Manager,
Rs. 1.7 bn
 Adani Power: In 2009, Book Running Lead Manager, Rs. 30.2 bn
FPOs

 NTPC: In 2010, Book Running Lead Manager, Rs 84.8 bn

 Power Grid Corp. Of India: In 2010, Book Running Lead Manager, Rs 74.4 bn
 Rural Electrification Corporation: In 2010, Book Running Lead Manager, Rs 35.3 bn
 Shipping Corporation Of India: In 2010, Book Running Lead Manager, Rs 11.6 bn
 Engineers India: In 2010, Book Running Lead Manager, Rs 9.6 bn
QIPs

 Adani Enterprises: In 2010, Book Running Lead Manager, Rs. 40 bn

 GMR Infrastructure: In 2010, Lead Manager, Rs. 14 bn
 Lanco Infratech: In 2009, Book Running Lead Manager, Rs. 7.3 bn
 Alok Industries : In 2010, Book Running Lead Manager, Rs. 4.2 bn
 Network18 Media & Investments: In 2009, Book Running Lead Manager, Rs. 2 bn

 Mergers and Acquisitions

ICICI Securities' Mergers and Acquisitions Advisory team creates and executes market-
leading solutions for clients' strategic business ambitions. Our mid-market focused M&A
practice is consistently among the top 3 investment banks in India. The M&A team is
proficient in domestic and international transactions including acquisitions, divestitures, joint
ventures, corporate restructurings, recapitalizations, spin-offs, mergers and exchange offers.

25
The team also works closely with the leading financials sponsors or private equity houses in
India. Our extensive knowledge of diverse industries and regulatory framework help us
innovate and tailor products and structures to best suit the clients short- and long-term
strategic objectives.

 Private Equity
ICICI Securities has a dedicated practice to assist companies with capital mobilization
through the private equity / venture capital route across their life cycle. It helps companies to
raise capital during the seed, growth and expansion phases as well as acquisition financing,
structuring the deal to maximize value for all its stakeholders. It has extensive industry
knowledge across multiple sectors, wide-ranging deal structuring capabilities and thorough
grasp of the regulatory environment make us the 'banker of choice', for companies and private
equity funds alike. ICICI Securities have working relationships with all major private equity
players, both in India and abroad and can facilitate access for our clients to these investors.
We advice on a wide variety of products including mezzanine and private equity financing,
secondary sale transactions, pre IPO deals and preferential allotments by listed companies.

In the advisory space, some of the transactions advised by ICICI Securities in FY10
included the following:-

 CEEBCO: In 2010, Exclusive Financial Advisor for Private Equity placement with
Tata Capital, USD 15mn
 Muthoot Finance: In 2010, Exclusive Financial Advisor for Private Equity placement
with Barings and Matrix Partners, USD 17.5mn
 A2Z Infrastructure: In 2009, Exclusive Financial Advisor for Private Equity
placement with Indian Equity partners, USD 32.4 mn
 Shiv-vani: In 2009, Exclusive Financial Advisor for Private Equity placement with
Franklin Templeton, USD 20mn
 PNB Housing Finance: In 2009, Exclusive Financial Advisor for Private Equity
placement with New Silk Route, USD 17mn
Institutional Equities
ICICI Securities assists global institutional investors to make the right decisions through
insightful research coverage and a client focused Sales and Dealing team. A dedicated and
specialized research team ensures flow of well thought-out and well-researched stock ideas
and portfolio strategies. The Sales and Dealing team has demonstrated strong sales and

26
execution capabilities of actionable ideas to clients which have resulted in good relationships
across geographies. ICICI Securities enjoys the first mover and market leader advantage in
the derivatives segment and offers the entire spectrum, from set-up to trading strategy. The
equity group leverages research and distribution reach to domestic and foreign institutional
investors in case of public offerings. The research team tracks over 15 key sectors of the
Indian economy and publishes in-depth research reports every year. The equity group acts as
a bridge for institutional investors and corporate clients with the markets. ICICI Securities is
the first domestic Investment Bank to organize theme based conferences in New York,
Shanghai, Singapore & Hong Kong.

2. Private Wealth management

The Wealth Management Group is a team of specialists who offer specific advisory services
to meet both personal and business wealth requirements of HNIs. The team creates
customized strategies to meet Customer's investment goals of wealth accumulation, wealth
preservation and liquidity. In addition to mutual funds, fixed deposits and other traditional
products, we also offer alternate investment avenues of Private Equity, Structured /
Customized products for investors with specific views on the markets and Portfolio
Protection Strategies for large investors.

3. Retail
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 not only offers convenient ways to invest in Equity, Derivatives, Currency Futures,
Mutual Funds but also other services Fixed Deposits, Loans, Tax Services, New Pension
Systems and Insurance are available. ICICIdirect.com offers a convenient and easy to use
platform to invest in equity and various other financial products using its unique 3-in-1
account, which integrates customer’s saving, trading, and Demat accounts. Apart from
convenience, ICICIdirect.com also offers access to comprehensive research information,
stock picks, and mutual fund 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. 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 in India to introduce `Digitally Signed Contract Note' to its

27
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.

28
1.7ICICI Direct

ICICI direct is an online trading and investment platform on ICICI Securities, the largest
stock broker firm in India providing a wide range of investment options to the retail and
institutional customers. ICICI Securities is part of ICICI Group, India's top financial service
provider offering banking and other financial services.

ICICI Securities (I-Sec) is the top equity house in India with over 20 lakh customers. ICICI
Direct.com is the flagship website of I-Sec. This website was the first online trading platform
lunched in India to provide browser based equity, commodity and currency trading; all under
one login.

ICICIdirect.com is the most visited investment portal in India and by NRI's living across
countries. It is one website, which provides options to invest in over 20 financial products
including Equity, Derivatives, Currency Futures, IPO, Mutual Funds, ETF, Fixed Deposits,
Loans, Tax Services, New Pension Systems and Insurance.

ICICI direct also provide current stock market information which includes stock prices, news,
market research reports, stocks tips, events, IPO News and company results. Its 'Centre for
Financial Learning' initiative offers number of online and classroom programs for investors.

The 3-in-1 account, which includes ICICI Bank Account, ICICI Direct Trading Account and
ICICI Demat Account, is the best offering for retail investors in India as it provides easiest
way to invest in stock market and other financial instruments. The customers can visit any of
the over 1500 ICICI Bank branches to get help on financial products which are sold through
ICICI direct.

29
ICICIDirect's Trading Platforms

ICICI Direct offers 2 trading platforms to its customers:

Share Trading Account (Website Based Trading)

Website based online Share Trading Account by ICICI Direct is primarily for buying and
selling of stocks at BSE and NSE.
The ICICI Direct website allows Cash Trading, Margin Trading, Margin PLUS Trading, Spot
Trading, Buy Today Sell Tomorrow, IPO Investment, Mutual Fund Investment etc.

ICICIDirect.com website is the primary Investment vehicle of ICICI Limited.

Trade Racer (Trading Terminal)

Trade Racer is a power packed Trading platform, which provides an investor with Live
streaming quotes & Research Calls, integrated fund transfer system along with multiple
watch list facility. Investor can also do technical analysis with the help advance charting
tools. Single Order entry page for Equities and Derivatives, Technical Analysis, Integrated
Fund Transfer System, Customized Interface, Intra-day and EOD Charts and Shortcut keys
for faster access to markets are some of the key features of Trade Racer Terminal.

30
Products & Services

Equity

ICICI direct.com offers various options while trading in shares.

Cash Trading: This is a delivery based trading system, which is generally done with the
intention of taking delivery of shares or monies.

Margin Product : Investor can also do an intra-settlement trading up to 3 to 4 times available

funds, wherein Investor take long buy/ short sell positions in stocks with the intention of
squaring off the position within the same day settlement cycle.

Margin PLUS Product : Through Margin PLUS Investor can do an intra-settlement trading up
to 25 times your available funds, wherein Investor take long buy/ short sell positions in stocks
with the intention of squaring off the position within the same day settlement cycle. Margin
PLUS will give a much higher leverage in Investor account against his limits.

Call N Trade: Call N Trade allows Investor to call on a local number in your city & trade on
the telephone through our Customer Service Executives. This facility is currently available in
over 11 major states across India.

Trading on NSE/BSE: Through ICICIdirect.com, can trade on NSE as well as BSE.

Market Order: Investor could trade by placing market orders during market hours that allows
to trade at the best obtainable price in the market at the time of execution of the order.

Limit Order: Allows placing a buy/sell order at a price defined by Investor. The execution
can happen at a price more favourable than the price, which is defined by Investor, limit
orders can be placed by Investor during holidays & non-market hours too.

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Derivatives

Futures

Through ICICIdirect.com, investor can now trade in index and stock futures on the NSE. In
futures trading, investor takes buy/sell positions in index or stock contracts having a longer
contract period of up to 3 months.

Trading in FUTURES is simple! If, during the course of the contract life, the price moves in
investor favour (i.e. rises in case investor has a buy position or falls in case investor has a sell
position), make a profit.

Presently only selected stocks, which meet the criteria on liquidity and volume, have been
enabled for futures trading.

Calculate Index and Know your Margin are tools to help you in calculating investor margin
requirements and the index & stock price movements. The Centre for Financial Learning is a
comprehensive guide on futures and options trading.

OPTIONS

An option is a contract, which gives the buyer the right to buy or sell shares at a specific
price, on or before a specific date. For this, the buyer has to pay to the seller some money,
which is called premium. There is no obligation on the buyer to complete the transaction if
the price is not favourable to him.

To take the buy/sell position on index/stock options, investor has to place certain percentage
of order value as margin. With options trading, investor can leverage on his trading limit by
taking buy/sell positions much more than what he could has taken in cash segment.

The Buyer of a Call Option has the Right but not the Obligation to Purchase the Underlying
Asset at the specified strike price by paying a premium whereas the Seller of the Call has the
obligation of selling the Underlying Asset at the specified Strike price.

The Buyer of a Put Option has the Right but not the Obligation to Sell the Underlying Asset
at the specified strike price by paying a premium whereas the Seller of the Put has the
obligation of buying the Underlying Asset at the specified Strike price.

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By paying lesser amount of premium, investor can create positions under OPTIONS and take
advantage of more trading opportunities.

Currency Derivatives

ICICI Direct offers a simple and convenient way to trade and hedge currency risk in four pair
of Currencies- Dollar, Euro, Pound and Japanese Yen against Indian Rupee.

By offering the choice of trading in different asset class of Currencies ICICI Direct offers the
opportunity to diversify investor portfolio.

The benefits of choosing ICICI Direct for your Currency Trading are:

Convenience - Provides a well-diversified set platform for online trading with competitive
brokerage under a single sign-on and completely paper-less investing experience

Expertise - Investor can access Daily Research Reports as well as Fundamental & Technical
Reports and Advisory.

Flexibility – Investor can select the Currency Pair USD/INR, EUR/INR, GBP/INR and
JPY/INR in which he wish to trade

Few Advantages of this market are

Trading hours of 09:00 am to 05:00 pm provide more trading opportunities

Trade in prominent currencies like US Dollar, EURO, Pound, Yen against Indian Rupee

Real time and Transparent Currency Rates in comparison to OTC Rates.

No Counterparty Default risk due to settlement guarantee by regulated clearing house.

Low Taxation ( No STT and CTT)

Daily Cash Settlement in INR via MTM (Mark to Market)

Currency Futures - An Assets Class

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Mutual Fund

ICICI Direct offers a simple and convenient way to invest and manage personal finance with
over 2000 funds approximately.

The benefits of choosing ICICI Direct for investment in mutual funds are:

Convenience - Provides a well-diversified set of investment products under a single sign-on

and completely paper-less investing experience.

Expertise - Investor can access some of the researched funds selected based on rigorous
criterion.

Flexibility - Investor may select the fund that best suits his need

Exchange Traded Funds

Exchange Traded Funds or ETFs are securities that are traded, like individual stocks, on an
exchange. Unlike regular open-end mutual funds, ETFs can be bought and sold throughout
the trading day like any stock.

Most ETFs charge lower annual expenses than many mutual funds. As with stocks, one must
pay a brokerage to buy and sell ETF units.

ICICI direct advantage:

The benefits of choosing ICICI direct for ETF investment are:

 Invest in a paperless manner

 No need to cut cheques
 Get instant confirmation & Calculate capital gains at click of a button
 Check portfolio for realized and unrealized profit/loss

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 Life Insurance

Wealth insurance ensures that investor receives a lump sum amount of money at
the maturity of the Policy. In the unfortunate event of death during the term of the
policy, investor family receives lump sum amount, called the Sum Assured. Thus
it combines the benefits of protection and saving in a single instrument.

IN ULIP POLICIES, THE INVESTMENT RISK IN THE INVESTMENT

PORTFOLIO IS BORNE BY THE POLICY HOLDER
Conditions Apply: Guaranteed benefits are available only if all premiums are paid
as per the premium payment term and the policy is in-force till the completion of
entire policy term.

General Insurance

General Insurance products cover Health, Home, Motor and Travel, and help protect financial
health unforeseen events strike close to home. ICICI Lombard is the leading private general
insurance company and has one of the best products.

Partnership with ICICI Lombard enables to bring the entire range of insurance offerings
personal and professional needs, with minimal paperwork and at the comfort of home or
office. Select products can be entirely bought online on ICICIdirect.com with instant policy
issuance.

Fixed Deposits & Bonds

Corporate Fixed Deposits:- ICICI Direct offers a range of Corporate Fixed Deposits varying
in tenures, interest rates & institutions to suit investment needs. The deposit schemes have
been specially chosen from high-safety options to ensure that customers enjoy the twin
benefits of returns and protection.

Why opt for Corporate Fixed Deposits?

 If risk appetite is low, fixed deposits are perfect. Since most of the instruments are
rated, corporate fixed deposits have a very high safety level.
 Attractive returns at interest rates higher than bank’s Fixed Deposits.

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  Higher Interest rates for senior citizens.
 High liquidity; most of these issuers offer 75% of the investment amount as loan @
2% over the interest rate on the deposit, as well as a pre-mature withdrawal Option.
 Potential to earn compounding interest on money by reinvesting the principal amount
along with the interest earned.
 Flexible tenure - there are various tenures ranging from 1 to 7 years.
 Can choose interest frequency; most issuers offer monthly, quarterly, bi annual and
annual cumulative deposits.
 Get direct ECS credit facility for interest payments or advance interest warrants for
the year issued by most issuers.

Bonds:-

Bond refers to a security issued by a company, financial institution or government, which

offers regular or fixed payment of interest in return on the amount, borrowed money for a
certain period.

Thus by purchasing a bond, investor loans money for a fixed period at a predetermined
interest rate. While the interest is paid to the bond holder at regular intervals, the principal
amount is repaid later, known as the maturity date. While both bonds and stocks are
securities, the principle difference between the two is that bond holders are lenders, while
stockholders are the owners of the organization. Another difference is that bonds usually have
a defined term, or maturity, after which the bond is redeemed, whereas stocks may be
outstanding indefinitely.

Customer also has the option of recurring interest along with Principal i.e. Cumulative
Interest. Thus a bond is like a loan: the issuer is the borrower (debtor), the holder is the lender
(creditor), and the coupon is the interest. Bonds provide the borrower with external funds to
finance long-term investments, or, in the case of government bonds, to finance current
expenditure. Bonds must be repaid at fixed intervals over a period.

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E-Locker

ICICI direct .com's e-Locker helps with the convenience and flexibility to store and retrieve
important documents when need them. Can store scanned copies of Passport, PAN,
Agreements or even medical reports securely under your ICICI direct account.

E Locker helps eliminate to carry copies of important documents either as a physical photo
copy or in storage devices like Compact Disks, USB token etc.

With e Locker, can store documents in one central secure location and know that documents
are just a few clicks away.

Key Benefits:

Secure and Accessible – e Locker ensures that documents are secure and accessible only via a
secure login.

Anywhere, anytime access –e Locker is available from anywhere, via an Internet connection
under ICICI direct account login.

Durability and Longevity - Storage of documents in CD's or other portable media is prone to
handling them with care, e Locker lets store documents online, which ensures durability and
longevity.

No storage or retrieval hassles - Since documents are stored in a digital format under ICICI
direct account, the account is available to you wherever you go.

Trade Racer

Trade Racer is a trading platform, which provides Live streaming quotes & Research Calls,
integrated fund transfer system along with multiple watch list facility. Power-packed with
new features, Trade Racer gives the power to identify market opportunities while enjoying
the attractive new look and feel of the trading terminal.

National Pension System (NPS)

Pension Fund Regulatory and Development Authority (PFRDA) was established by the
Government of India on August 23, 2003 to promote old age income security by establishing,

37
developing and regulating pension funds, to protect the interests of subscribers to schemes of
pension funds and for matters connected therewith or incidental thereto.

The NPS is a new voluntary contributory pension scheme introduced by the Central
Government . Under the National Pension System , individuals can open a personal
retirement account and can accumulate a pension corpus during their work life to meet
financial needs post retirement. These contributions would grow and accumulate over the
years, depending on the returns earned on the investment made. When the person retires, he
will be able to use these savings to take care of the needs and expenses of his family during
old age. The subscribers may use the accumulated pension wealth under the scheme to
purchase a life annuity from a life insurance company. Alternatively, depending on the age of
the subscriber, a part of the wealth may be withdrawn as lump-sum.

ICICI Securities Limited (I-Sec) has obtained the Point of Presence (POP) Registration
Certificate from PFRDA to offer NPS accounts. Any individual customer of icicidirect.com
desiring to open an NPS account t can do so by clicking on "Subscribe NPS" and fulfilling
the prerequisite process.

SEBI regulations require that at least two thirds of the directors of trustee company or board
of trustees must be independent i.e. they should not be associated with the sponsors. In
addition, 50 per cent of the directors of AMC must be independent. All Mutual Funds are
required to be registered with SEBI before they launch any scheme

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 1.8MUTUAL FUND

A mutual fund is a financial intermediary that pools the savings of investors for collective
investment in a diversified portfolio of securities. A fund is “mutual” as all of its returns,
minus its expenses, are shared by the fund’s investors. Investors invest money and get the
units as per the unit value, which we called as NAV (net assets value). Mutual fund is the
most suitable investment for the common person as it offers an opportunity to invest in
diversified portfolio management, good research team, professionally managed Indian stock,
as well as the foreign market.

History of Mutual Funds in India and role of SEBI

Unit Trust of India was the first Mutual Fund set up in India in the year 1963. In early 1990s,
Government allowed public sector banks and institutions to set up Mutual Funds. In the year
1992, Securities and exchange Board of India (SEBI) Act was passed. The objectives of SEBI
are - to protect the interest of investors in securities, to promote the development of, and to
regulate the securities market.

As far as Mutual Funds are concerned, SEBI formulates policies and regulates the Mutual
Funds to protect the interest of the investors. SEBI notified regulations for the Mutual Funds
in 1993. Thereafter, Mutual Funds sponsored by private sector entities were allowed to enter
the capital market. The regulations were fully revised in 1996 and have been amended
thereafter from time to time. SEBI has also issued guidelines to the Mutual Funds from time
to time to protect the interests of investors.

39
How is a Mutual Fund set up?

A Mutual Fund is set up in the form of a trust, which has a sponsor, trustees, and asset
management company (AMC) and custodian. The trust is established by a sponsor or more
than one sponsor who is like a promoter of a company. The trustees of the Mutual Fund hold
its property for the benefit of the unit holders. Asset Management Company (AMC) approved
by SEBI manages the funds by making investments in various types of securities. Custodian,
who is registered with SEBI, holds the securities of various schemes of the fund in its
custody. The trustees are vested with the general power of superintendence and direction over
AMC. They monitor the performance and compliance of SEBI regulations by the Mutual
Fund.

ADVANTAGES OF MUTUAL FUNDS

Mutual funds have designed to provide maximum benefits to investors, and fund manager
have research team to achieve schemes objective. Assets Management Company has different
type of sector funds, which need to proper planning for strategic investment and to achieve
the market return.

Portfolio Diversification

Mutual Funds invest in a well-diversified portfolio of securities, which enables investor to

hold a diversified investment portfolio (whether the amount of investment is big or small).

Professional Management

Fund manager undergoes through various research works and has better investment
management skills, which ensure higher returns to the investor than what he can manage on
his own.

Less Risk

Investors acquire a diversified portfolio of securities even with a small investment in a

Mutual Fund. The risk in a diversified portfolio is lesser than investing in merely 2 or 3
securities.

40
Low Transaction Costs

Due to the economies of scale (benefits of larger volumes), mutual funds pay lesser
transaction costs. These benefits are passed on to the investors.

Liquidity

An investor may not be able to sell some of the shares held by him very easily and quickly,
whereas units of a mutual fund are far more liquid.

Choice of Schemes

Mutual funds provide investors with various schemes with different investment objectives.
Investors have the option of investing in a scheme having a correlation between its
investment objectives and their own financial goals. These schemes further have different
plans/options

Transparency

Funds provide investors with updated information pertaining to the markets and the schemes.
All material facts are disclosed to investors as required by the regulator.

Flexibility

Investors also benefit from the convenience and flexibility offered by Mutual Funds.
Investors can switch their holdings from a debt scheme to an equity scheme and vice-versa.
Option of systematic (at regular intervals) investment and withdrawal is also offered to the
investors in most open-end schemes.

Safety

Mutual Fund industry is part of a well-regulated investment environment where the interests
of the investors are protected by the regulator. All funds are registered with SEBI and
complete transparency is forced.

41
DISADVANTAGES OF MUTUAL FUNDS

The mutual fund not just advantage of investor but also has disadvantages for the funds. The
fund manager not always made profits but might creates loss for not properly managed. The
fund have own strategy for investment to hold, to sell, to purchase unit at particular time.

Costs Control Not in the Hands of an Investor

Investor has to pay investment management fees and fund distribution costs as a percentage
of the value of his investments (as long as he holds the units), irrespective of the performance
of the fund

No Customized Portfolios

The portfolio of securities in which a fund invests is a decision taken by the fund manager.
Investors have no right to interfere in the decision making process of a fund manager, which
some investors find as a constraint in achieving their financial objectives.

Difficulty in Selecting a Suitable Fund Scheme

Many investors find it difficult to select one option from the plethora of funds/schemes/plans
available. For this, they may have to take advice from financial planners in order to invest in
the right fund to achieve their objectives.

Functional Classification of Mutual Funds:-

 Open-ended schemes: In case of open-ended schemes, the mutual fund continuously

offers to sell and repurchase its units at net asset value or NAV-related prices. Unlike
close-ended schemes, open-ended ones do not have to be listed on the stock exchange
and can offer repurchase soon after allotment. Investors can enter and exit the scheme
any time during the life of the fund.There is no fixed redemption period in open-
ended schemes, which can be terminated whenever the need arises. The fund offers a
redemption price at which the holder can sell units to the fund and exit. Besides, an
investor can enter the fund again by buying units from the fund at its offer price. Such
funds announce sale and repurchase prices from time-to-time. The key feature of
open-ended funds is liquidity. They increase liquidity of the investors as the units can

42
 be continuously bought and sold. The investors can develop their income or saving
plan due to free entry and exit frame of funds. Open-ended schemes usually come as a
family of schemes, which enable the investors to switch over from one scheme to
another of same family.

 Close-ended schemes:

Close-ended schemes have a fixed corpus and a stipulated maturity period ranging
between 2 to 5 years. Investors can invest in the scheme when it is launched. The
scheme remains open for a period not exceeding 45 days. Investors in close-ended
schemes can buy units only from the market, once initial subscriptions are over and
thereafter the units are listed on the stock exchanges where they dm be bought and
sold. The fund does not interact with investors until redemption except for paying
dividend/bonus. In order to provide an alternate exit route to the investors, some
close-ended funds give an option of selling back the units to the mutual fund through
periodic repurchase at NAV related prices. If an investor sells units directly to the
fund, he cannot enter the fund again, as units bought back by the fund cannot be
reissued. The close-ended scheme can be converted into an open-ended one. The units
can be rolled over by the passing of a resolution by a majority of the unit-holders.

 Interval scheme:
Interval scheme combines the features of open-ended and close-ended schemes. They
are open for sale or redemption during predetermined intervals at NAV related prices.

43
 CHAPTER--2

RESEARCH METHODOLOGY

Research methodology is a methodology for collecting all sorts of information & data
pertaining to the subject in question. The objective is to examine all the issues involved &
conduct situational analysis. The methodology includes the overall research design, sampling
procedure & fieldwork done & finally the analysis procedure. The methodology used in the
study consistent of sample survey using primary data. The primary data has been collected
with the help of questionnaire. The questionnaire has been drafted & presented by the ICICI
Securities, which was in online mode.

2.1 Research objective

 To understand ICICI customer’s psyche towards mutual fund through conducting

survey (client meeting).
 In future investors would like to invest in mutual fund or not.

2.2Responsibilities assigned by the project mentor

 I have to meet ICICI Securities clients and have to give demo presentation on the
benefits of Mutual Funds and its online transaction.
 I have to show mutual fund video and ICICI Direct site demo to customers.
 I was responsible to solve their queries about mutual fund.
 If customers want to know about online portal and online trading I have to give them
site demo.
 I have to make customers fill up one online feedback form.
 I had to give clients mutual funds simplified brochure/ booklet.
 Work done is shown below

Sample Size:

Sample of 43 customers of ICICI Securities was taken into study and their data was collected.

Sampling Technique:
Study the Project, a Simple Random Sampling technique is used

44
Data Collection:
Collection of data (primary) is done by:

 Questionnaire

Data Analysis:
After data collection, I am able to analyze customer views, perception and opinions related to
mutual fund and from this, ICICI Securities will come to know the customers’ requirements.

Data Interpretation:
Interpretation of data is done by using statistical tools like Pie diagrams and using
quantitative techniques (by using these techniques) accurate information is obtained.

Classification & tabulation of data:

The data thus collected were classified according to the categories, counting sheets & the
summary tables were prepared. The resultant tables were one dimensional, two-dimensional.

Statistical tools used for analysis:

Out of the total respondents, the respondents who responded logically were taken into
account while going into statistical details & analysis of data. The tools that have been used
for analyzing data & inference drawing are mainly statistical tools like percentage, averages,
etc.

As per questionnaire, I have find out different responses from different people. According to
their responses, I analyse the findings and draw certain remarks.

45
2.2 STATEMENT OF PROBLEM

 The area of survey was huge.

 ICICI Securities has not updated its database. Customers who have shifted to other cities or
even closed their account still I got their details to contact.
 At initial stage of project, there was some technical problem in ICICI Securities site demo,
which was not working and I have visited same clients twice.
 I had to fix appointment first with customers but few were not ready to give their time to be
part of my project.

46
 2.4ANALYSIS AND OUTCOMES

TABLE-1.2-Report Analysis

ACTIVITY REPORT
COUNT CONTACTABLES NON INTERESTED NON-
OF CONTACTABLES FEEDBACK INTERESTE
CALLING RECEIVED D
1230 150 1080 150 12 138

Figure 1.3– shows the data collected

ACTIVITY REPORT
INTERESTED NOT
FEEDBACK INTERESTED
NON RECEIVED
CONTACTABLE
COUNTS OF
S
CALLS
ASSIGNED

CONTACTABLE
S CALLS ASSIGNED
COUNTS OF CONTACTABLES NON CONTACTABLES
FEEDBACK RECEIVED INTERESTED NOT INTERESTED

47
SIGNIFICANCE AND SCOPE
 The geographical scope of the study is restricted to Patna only with sample size of
150 people.
 All the analysis and suggestions are based on the analysis of the primary data, which I
have collected with the help of questionnaire.
 A big boom has been witnessed in Mutual Fund Industry in recent times. A large
number of new players have entered the market and trying to gain market share in this
rapidly improving market.
 The research was carried on in Patna. I had been sent to park street branch of ICICI
Securities Ltd. where I completed my project work.

48
 CHAPTER – 3

LIMITATIONS OF THE STUDY

 I had to rely upon the information given to me by the customers to arrive at

conclusion. Their responses might not be fully true.
 This study is only limited to Patna therefore the conclusion may not be universally
applicable.
 Since the researcher is a student, he lacks professional approach.

49
 CHAPTER - 4

FINDINGS

 Most of the customers were not fully aware with mutual fund and its advantage.
 Customers even who know about mutual fund, are not investing their money into it
because of lack of knowledge about mutual fund.
 In future, customers would like to invest in mutual fund if ICICI Securities create
awareness and provide right knowledge about mutual fund among customers.
 Almost every customer were agree to continue with ICICI Securities services.
 There was communication gap with some customers.
 Mostly customers update themselves about investment decision by their own or take
advice with family and friends.

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 CHAPTER -5

SUGGESTIONS AND RECOMMENDATION

 Before making any investment financial advisors should first enquire about the risk
tolerance of the investors, their need, and time (how long they want to invest). By
considering these three things they can take the customers into consideration.
 ICICI Securities should provide proper guidance to its customers about mutual fund
though seminars or other way of interaction.
 There should be one department, which will call customer once in a month and notice
their problem or their complaint so there would not be any communication gap.
 At the time of opening account, ICICI Securities can offer one tutorial class about
mutual fund or about other investment plans so there would not be any lack of
knowledge in customer mind.
 ICICI Securities can send details about investment decision to its customers through
e-mail or SMS.

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 CHAPTER - 6

CONCLUSION

Running of successful Mutual Funds requires complete understanding the psyche of small
investors. This study has made an attempt to understand the financial behaviour of ICICI
Securities customers. I observed that many of customers have fear of Mutual Fund. Many of
customers do not invest in mutual fund due to lack of awareness although they have money to
invest. Most of customers prefer to invest in equity. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convinced. . It is very important to
make a relation with customers and maintain it so that the business can work smoothly and
properly . So, one should maintain a good relation with the customers

52
 REFERENCE

1. http://www.icicigroupcompanies.com
2. http://www.icicisecurities.com
3. http://www.assetmanagement.hsbc.com/in/mutual-funds/learning-
centre/investor-progrm/mutual_fund.html
4. http://www.mutualfundindia.com
5. http://www.moneycontrol.com

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