Comperesion of Diffrent Financial Products

INTRODUCTION
WHAT IS DEMAT ACCOUNT?
Demat account allows you to buy, sell and transact shares without the endless paperwork and
delays. It is also safe, secure and convenient.Demat refers to a dematerialised account.Just as
you have to open an account with a bank if you want to save your money, make cheque
payments etc, you need to open a demat account if you want to buy or sell stocks. So it is just
like a bank account where actual money is replaced by shares. You have to approach the DPs
(remember, they are like bank branches), to open your demat account.
IS A DEMAT ACCOUNT A MUST
Nowadays, practically all trades have to be settled in dematerialised form. Although the
market regulator, the Securities and Exchange Board of India (SEBI), has allowed trades of
upto 500 shares to be settled in physical form, nobody wants physical shares any more. So a
demat account is a must for trading and investing.
Why Demat?
The demat account reduces brokerage charges, makes pledging/hypothecation of share easier,
enables quick ownership of securities on settlement resulting in increased liquidity, avoids
confusion in the ownership title of securities, and provides easy receipt of public issue
allotments.
It also helps you avoid bad deliveries caused by signature mismatch, postal delays and loss of
certificates in transit. Further, it eliminates risks associated with forgery, counterfeiting and
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loss due to fire, theft or mutilation. Demat account holders can also avoid stamp duty (as
against 0.5 per cent payable on physical shares), avoid filling up of transfer deeds, and obtain
quick receipt of such benefits as stock splits and bonuses.
DEMAT ACCOUNT
Fig. 1.1
Have you decided to buy shares this year?
Or at least decided that you want a part of the Initial Public Offering (IPO) pie, which
promises to be big this year.
How to invest in an IPO If yes, this is what you need to do. First, open a demat account. Let's
tackle a few questions that come to mind.
What's the difference between a depository and a depository participant
A depository is a place where the stocks of investors are held in electronic form.
The depository has agents who are called depository participants.
There are only two depositories in India -- the National Securities Depository Ltd
(NSDL) and the Central Depository Services Ltd (CDSL).
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WHAT'S A DEMAT ACCOUNT
Demat refers to a dematerialised account. Just as you have to open an account with a bank if
you want to save your money, make cheque payments etc, you need toopen a
demat account if you want to buy or sell stocksSo it is just like a bank account
where actual money is replaced by shares.
You have to approach the DPs (remember, they are like bank branches), to open your demat
account. As you buy and sell the shares, they are adjusted in your account. Just like a bank
passbook or statement, the DP will provide you with periodic statements of holdings and
transactions.
Benefits of Demat Account
• Eliminates risks associated with physical certificates such as bad delivery, fake
securities, delays, forgery, counterfeiting, thefts and loss due to fire.
• Reduces brokerage charges
• Pledging/Hypothecation of shares is easier
• Enables quick ownership of securities on settlement thereby resulting in increased
liquidity
• Reduction in paperwork involved in transfer of securities
• Demat account obviates the need to pay stamp duty (in case of physical shares, 0.5 per
cent stamp duty is payable).
• There is no odd lot problem. Even one share can be bought or sold.
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Documents Required for Opening a Demat Account
You can open a demat account with a bank or a depository participant (DP). Banks usually
give preference to those customers who have a savings or current account with the bank.
Along with the application form, following documents are required:
• A cancelled MICR cheque
• Identity proof
• Address proof
• Copy of PAN card (mandatory)
• Photograph of the applicant.
Procedure for Dematerialisation
For dematerialization of physical share certificate(s) you have to first fill the demat request
form (DRF). The form can be obtained from the DP with whom your demat account is
opened. Deface the share certificate(s) by writing across Surrendered for dematerialisation.
Submit the DRF & share certificate(s) to DP. DP would forward them to the issuer. After
dematerialisation, your depository account would be credited with the dematerialised
securities.
Importance of Demat Account
• Settlement of securities traded on the exchange as well as off market transactions.
• Shorter settlements thereby enhancing liquidity.
• Pledging and Hypothecation of Dematerialized Securities.
• Electronic credit in public issue.
• Receipt of non-cash benefits in electronic form.
• No stamp duties on transfer of securities held in demat form.
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WHAT IS A MUTUAL FUND?
A Mutual Fund is a body corporate that pools the savings of a number of investors and
invests the same in a variety of different financial instruments, or securities. The income
earned through these investments and the capital appreciation realized by the scheme is shared
by its unit holders in proportion to the number of units owned by them. Mutual funds can thus
be considered as financial intermediaries in the investment business that collect funds from the
public and invest on behalf of the investors. The losses and gains accrue to the investors only.
The Investment objectives outlined by a Mutual Fund in its prospectus are binding on the
Mutual Fund scheme. The investment objectives specify the class of securities a Mutual Fund
can invest in. Mutual Funds invest in various asset classes like equity, bonds, debentures,
commercial paper and government securities
Fig. 1.2
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Fig. 1.3
A mutual fund is a common pool of money in to which investors with common investment
objective place their contributions 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 equity and equity related instruments
and a debt fund would invest in bonds, debentures, gilts etc.
Working of Mutual Funds
A mutual fund is set up by a sponsor. However, the
sponsor cannot run the fund directly. He has to set up
two arms: a trust and Asset Management Company.
The trust is expected to assure fair business practice, while the AMC manages the money. All
mutual funds except UTI functions under Sebi (Mutual Fund) regulations 1996.
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The mutual fund collects money directly or through brokers from investors. The money is
invested in various instruments depending on the objective of the scheme. The income
generated by selling securities or capital appreciation of these securities is passed on to the
investors in proportion to their investment in the scheme. The investments are divided into
units and the value of the units will be reflected in Net Asset Value or NAV of the unit. NAV
is the market value of the assets of the scheme minus its liabilities. The per unit NAV is the
net asset value of the scheme divided by the number of units outstanding on the valuation
date. Mutual fund companies provide daily net asset value of their schemes to their investors.
NAV is important, as it will determine the price at which you buy or redeem the units of a
scheme. Depending on the load structure of the scheme, you have to pay entry or exit load.
Fair wealth securities – Transacting and investing simplified.
Get ready to change the way you transact and invest in financial products and
services.Whether you wish to transact in equity, equity & commodity derivatives, IPO’s
offshore investments or prefer to invest in mutual funds, life & general insurance products or
avail money transfer and money changing services, you can do it all through fair wealth
securities.Simply open a fair wealth securities account and enjoy the convenience of handling
all your key financial transactions through this one window.
Demat refers to a dematerialised account. Demat account is just like a bank account where
actual money is replaced by shares. Just as a bank account is required if we want to save
money or make cheque payments, we need to open a demat account in order to buy or sell
shares. A Demat Account holds portfolio of shares in electronic form and obviates the need to
hold shares in physical form. The account offers a secure and convenient way to keep track of
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shares and investments without the hassle of handling physical documents that get mutilated
or lost in transit. The Securities and Exchange Board of India (SEBI) mandates a demat
account for share trading involving more than 500 shares.
WHAT IS LIFE INSURANCE.?
The insurance sector in India has come a full circle from being an open competitive market to
nationalization and back to a liberalized market again. Tracing the developments in the Indian
insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.
With largest number of life insurance policies in force in the world, Insurance happens to be a
mega opportunity in India. It is a business growing at the rate of 15-20 percent annually and
presently is of the order of Rs 450 Billion. Together with
banking services, it adds about 7 per cent to the country‟s GDP. Gross premium
collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per
cent of GDP. Yet, nearly 80 per cent of Indian population is without life insurance cover
while health insurance and non-life insurance continues to be below international standards. In
addition, this part of the population is subject to weak social security and pension systems
with hardly any old age income security. This is an indicator that growth potential for the
insurance sector is immense. A well-developed and evolved insurance sector is necessary for
economic development as it provides long-term funds for infrastructure development and at
the same time strengthens the risk taking ability. It has estimated that, over the next ten years
India would require investments of the order of one trillion US dollar. The Insurance sector, to
some extent, can enable investments in infrastructure development to sustain economic
growth of the country. Insurance is a federal subject in India. Two legislations govern the
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sector- The Insurance Act- 1938 and the IRDA Act- 1999. The insurance sector in India has
come a full circle from being an open competitive market to nationalization and back 5
to a liberalized market again. Tracing the developments in the Indian insurance sector reveals
the 360-degree turn witnessed over a periodLife Insurance is the fastest growing sector in
India since 2000 as Government allowed Private players and FDI up to 26%. Life Insurance
in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All
private life insurance companies at that time were taken over by LIC.
INSURANCE MARKET IN INDIA:
The India Insurance market despite having a highly elaborate history spanning almost two
centuries, has come of age only in last 50 years after the formation of the Life Insurance
Corporation (LIC) of India in 1956 and the entry of private companies into the market in
2000.
Traditionally the Indian Insurance Market had centered on the life insurance until recently, a
host of other insurance policies covering a diverse range of issues and objects like Medical
Insurance, Accident Insurance, Fire Insurance, Automobile Insurance and other policies which
fall under the category of general insurance are being provided by various private insurance
companies.
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SCOPE & IMPORTANCE
The need of the study arises because of the reason that a trainee must understand the company,
its achievements and tasks, products and services and also to collect information about its
competitors, its products and services offered. So that, after understanding and collecting
information about the organization and its competitors, a trainee will be able to work well for
the organization.
Importance
 Various investment avenues that is available to the customer.
 Major player in the field of insurance, mutual fund & demat
 What is the future of insurance, demat service & mutual fund in India.
 The growth of opportunities available to the Fair wealth securities.
 Share of Fair wealth securities is Demat, Mutual fund & Life Insurance.
 Extra security features with “Security Token “which is the most secure and tested
technology in computer world.
 Simple, easy and fast online stock trading.
 Almost all investment options are available under one account including Equity Trading,
Derivatives, Forex, Commodity, IPO, Mutual Funds and Insurance.
 Branches are available in all major cities and the number is growing.
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INDSUTRY PROFILE
MAJOR COMPANIES OF DEMAT ACCOUNT
HDFC BANK is one of the leading Depository Participant (DP) in the country with over 8
Lac demat accounts.
HDFC Bank Demat services offers you a secure and convenient way to keep track of your
securities and investments, over a period of time, without the hassle of handling physical
documents that get mutilated or lost in transit.
ICICI DIRECT
ICICIDirect (or ICICIDirect.com) is stock trading company of ICICI Bank. Along with stock
trading and trading in derivatives in BSE and NSE, it also provides facility to invest in IPOs,
Mutual Funds and Bonds. Trading is available in BSE and NSE
ICICIDirect offers 3 different online trading platforms to its customersType of Account
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Share Trading Account
Share Trading Account by ICICIDirect is primarily for buying and selling of stocks in BSE
and NSE.
This account allows Cash Trading, Margin Trading,
MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow and Call and Trade on
phone.
ICICIDirect.com website is the primary trading platform for this trading account. They also
provide installable application terminal based application for high volume trader.
Wise Investment Account
Online Mutual funds investment allows investor to invest on-line in around 19 Mutual Fund
companies. ICICI Direct offers various options while investing in Mutual Funds like Purchase
Mutual Fund, Redemption and switch between different schemes, Systematic Investment
plans, Systematic withdrawal plan and transferring existing Mutual Funds in to electronic
mode. This account also provides facility to invest in Government of India Bonds and ICICI
Bank Tax Saving Bonds. 2.Active Trader account gives more personalized investment options
to the investors. It allows investor to use online and offline stock trading. It also provides with
independent market expertise and support through a dedicated Relationship Manager from
ICICI.
Active Trader also provides commodity trading.
Brokerage and fees
Account opening fees : Rs 750/- (One time non-refundable)
Brokerage : ICICIDirect.com brokerage varies on volume of trade and inclusive of demat
transaction charges, service taxes and courier charges for contract notes. It ranges from 0.1%
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to 0.15% for margin trades, 0.2% to 0.425% for squared off trades and 0.4% to 0.85% on
delivery based trades.
Disadvantages of ICICIDirect
Getting access to ICICIDirect.com website during market session can be frustrating.
SBI DEAMT
SBI demat services include investments in secondary market equities in cash or derivatives.
State Bank of India offers demat services through eZ-trade SBI online share trading service
that removes the tedious process of filling of different application forms. You can trade in
equities, commodities, mutual funds IPOs and more online by blocking funds and shares in
your demat account to trade. BNST (Buy Now Sell Tomorrow) option by eZ-trade service of
SBI helps you deal with limited stock situations.
SBI Demat Account
All you have to do is open a 3-in-1 online trading account with SBI that gives you advantage
of a savings, current and demat account. This SBI demat account as it is commonly called
enables you to get free ATM cum Debit card with ATM access at 5500 SBI ATMs across the
country, net banking services, money multiplying facility, good interest rates on term deposits
and many more.
SBI demat services cover instant access to various online reports pertaining to the market
response of the various mutual funds and investment derivatives. Also get updates on the
latest research reports, market diaries on daily basis and info on pivot points with eth top 20
gainers and loses on various stock indexes.
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SBI Demat Account Login
For further information SBI demat service is available 24 x 7 through their dedicated customer
service. The 24-hour customer care numbers connect you to a SBI customer care executive
from whom you can avail all the information you require in context of SBI demat services,
SBI demat account opening and related forms. For direct access to your SBI demat account to
operate the demat service by state bank of India, login to their official website mentioned
below. For information on other SBI Online and other banking services of State Bank of India
refer to our dedicated pages on
IDBI DEMAT ACCOUNT
Services
This section covers the services we provide in the Demat Account and the process you need to
follow to avail of these services.
Dematerialisation
Converting physical shares into electronic form
• Fill up the DRF with your Demat Account No. correctly
• Handover the share certificates and DRF at the branch
• Use a separate DRF for each eligible security
• Cancel the certificates by writing or stamping across the share certificate "Surrendered
for Dematerialisation"
• The credit will be given to your Demat Account after confirmation by the Company /
Registrar normally within a period of 30 days
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Rematerialization
Converting your electronic shares into physical form
• Fill-up Rematerialization Request Form (RRF)
• Submit the completely filled RRF at the branch along with a copy of your Account
Opening Report (CML)
• Your account will be debited immediately and the share certificates in physical form
will be issued by the concerned Company / Registrar normally within a period of 45
days
History of the Indian Mutual Fund Industry
1964 1987 1993 2004
Phase 1 Phase 2 phase 3
UTI-The only Public/ Bank Entry of Private

player Funds & Foreign FUTURE
The Evolution established Players
Fig. 3.1
The formation of Unit Trust of India marked the evolution of the Indian mutual fund industry
in the year 1963. The primary objective at that time was to attract the small investors and it
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was made possible through the collective efforts of the Government of India and the Reserve
Bank of India. The history of mutual fund industry in India can be better understood divided
into following phases:
Phase 1. Establishment and Growth of Unit Trust of India - 1964-87
Unit Trust of India enjoyed complete monopoly when it was established in the year 1963 by
an act of Parliament. UTI was set up by the Reserve Bank of India and it continued to operate
under the regulatory control of the RBI until the two were de-linked in 1978 and the entire
control was tranferred in the hands of Industrial Development Bank of India (IDBI). UTI
launched its first scheme in 1964, named as Unit Scheme 1964 (US-64), which attracted the
largest number of investors in any single investment scheme over the years.
UTI launched more innovative schemes in 1970s and 80s to suit the needs of different
investors. It launched ULIP in 1971, six more schemes between 1981-84, Children's Gift
Growth Fund and India Fund (India's first offshore fund) in 1986, Mastershare (Inida's first
equity diversified scheme) in 1987 and Monthly Income Schemes (offering assured returns)
during 1990s. By the end of 1987, UTI's assets under management grew ten times to Rs 6700
crores.
Phase II. Entry of Public Sector Funds - 1987-1993
The Indian mutual fund industry witnessed a number of public sector players entering the
market in the year 1987. In November 1987, SBI Mutual Fund from the State Bank of India
became the first non-UTI mutual fund in India. SBI Mutual Fund was later followed by
Canbank Mutual Fund, LIC Mutual Fund, Indian Bank Muatual Fund, Bank of India Mutual
Fund, GIC Mutual Fund and PNB Mutual Fund. By 1993, the assets under management of the
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industry increased seven times to Rs. 47,004 crores. However, UTI remained to be the leader
with about 80% market share.
Amou Assets
Mobilisation as
nt Under
1992-93 % of gross
Mobili Manageme
Domestic Savings
sed nt
UTI 11,057 38,247 5.2%
Public Sector 1,964 8,757 0.9%
Total 13,021 47,004 6.1%
Table No. 3.1
Phase III. Emergence of Private Secor Funds - 1993-96
The permission given to private sector funds including foreign fund management companies
(most of them entering through joint ventures with Indian promoters) to enter the mutal fund
industry in 1993, provided a wide range of choice to investors and more competition in the
industry. Private funds introduced innovative products, investment techniques and investor-
servicing technology. By 1994-95, about 11 private sector funds had launched their schemes.
Phase IV. Growth and SEBI Regulation - 1996-2004
The mutual fund industry witnessed robust growth and stricter regulation from the SEBI after
the year 1996. The mobilisation of funds and the number of players operating in the industry
reached new heights as investors started showing more interest in mutual funds.
Invetors' interests were safeguarded by SEBI and the Government offered tax benefits to the
investors in order to encourage them. SEBI (Mutual Funds) Regulations, 1996 was introduced
by SEBI that set uniform standards for all mutual funds in India. The Union Budget in 1999
17
exempted all dividend incomes in the hands of investors from income tax. Various Investor
Awareness Programmes were launched during this phase, both by SEBI and AMFI, with an
objective to educate investors and make them informed about the mutual fund industry. In
February 2003, the UTI Act was repealed and UTI was stripped of its Special legal status as a
trust formed by an Act of Parliament. The primary objective behind this was to bring all mutal
fund players on the same level. UTI was re-organised into two parts: 1. The Specified
Undertaking, 2. The UTI Mutual Fund
Presently Unit Trust of India operates under the name of UTI Mutual Fund and its past
schemes (like US-64, Assured Return Schemes) are being gradually wound up. However, UTI
Mutual Fund is still the largest player in the industry. In 1999, there was a significant growth
in mobilisation of funds from investors and assets under management which is supported by
the following data:
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GROSS FUND MOBILISATION (RS. CRORES)
PUB PRIV
U
LIC ATE TOTA
FROM TO T
SEC SECT L
I
TOR OR
1
1,
31-
01-April-98 6 1,732 7,966 21,377
March-99
7
9
1
3,
31- 42,17
01-April-99 5 4,039 59,748
March-00 3
3
6
1
2,
31- 74,35
01-April-00 4 6,192 92,957
March-01 2
1
3
4,
31- 6 13,61 1,46,2 1,64,5
01-April-01
March-02 4 3 67 23
3
5,
5 22,92 2,20,5 2,48,9
01-April-02 31-Jan-03
0 3 51 79
5
31- 7,259 58,43

01-Feb.-03 * 65,694
March-03 * 5
31- 68,55 5,21,6 5,90,1

01-April-03 -
March-04 8 32 90
31- 1,03, 7,36,4 8,39,6

01-April-04 -
March-05 246 16 62
31- 1,83, 9,14,7 10,98,

01-April-05 -
March-06 446 12 158
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Table No. 3.2
ASSETS UNDER MANAGEMENT (RS. CRORES)
T
PUBL PRIVA
U O
IC TE
AS ON T T
SECT SECTO
I A
OR R
L
6
8,
31-March-99 53,320 8,292 6,860 4
7
2
Table No. 3.3
Phase V. Growth and Consolidation - 2004 Onwards
The industry has also witnessed several mergers and acquisitions recently, examples of which
are acquisition of schemes of Alliance Mutual Fund by Birla Sun Life, Sun F&C Mutual Fund
and PNB Mutual Fund by Principal Mutual Fund. Simultaneously, more international mutal
fund players have entered India like Fidelity, Franklin Templeton Mutual Fund etc. There
were 29 funds as at the end of March 2006. This is a continuing phase of growth of the
industry through consolidation and entry of new international and private sector players.
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Fig. 3.2
MUTUAL FUND COMPANIES
Birla Sun Life Mutual Fund
A joint venture between Sun Life Assurance Company, the Canada-based financial service
organization and the Indian industrial house of Aditya Birla, this AMC was launched in the
mid-90 s.
Both the partners are well known in all areas that they operate in. While Aditya Birla is a
household name in India and has renowned brands in businesses spread across industries as
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wide ranging as Aluminum (Hindalco), Textiles (Grasim), Fertilizers (Indo-Gulf), Finance
(Birla Global Finance Ltd.) and Rayon (India Rayon), Sun Life is a leading financial service
organization in North America. Sun Life provides services related to risk management, money
management and wealth management across globe. Having established itself at Toronto in
1871, it has now spread its wings across Asia Pacific, U.S.A. and U.K. It also has a significant
presence through MFS Investment Management in U.S. and Spectrum United Mutual Funds
in Canada.
The major strengths of the group are its expertise drawn from managing assets over the globe,
a big agent network and an ability to cater to the need of people. Drawing on the expertise of a
worldwide staff of over 10,000 people and a network of more than 65,000 agents and
distributors, Sun Life is committed to providing not just products and services, but solutions
for clients financial and risk management needs.
DSP Merrill Lynch Fund Managers
DSP Merrill Lynch Asset Management (India) Ltd., has been set up by DSPML and MLAM,
to act as the Asset Management Company (AMC) to the Fund. The AMC has been appointed
as the Investment Manager to the fund, MLAM holds 40% of the paid up share capital of the
AMC, while the balance 60% (approximately), is held by DSPML. DSP Merrill Lynch,
originally called DSP Financial Consultants Ltd., traces its origins to DS Purbhoodas & Co., a
securities and brokerage firm with over 130 years of experience in the Indian market. After a
decade long association, DSP Merrill Lynch & Co. Inc. took up a 40% stake in DSPFC and
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the name was changed to DSPML Ltd. DSPML is a full fledged financial services
organization with a broad employee base and offices in Mumbai, New Delhi, Calcutta,
Chennai, Bangalore, Hyderabad and Cochin. MLAM is a unit of Merrill Lynch Asset
Management Group, the money management arm of ML & Co. It is based in Princeton, N.J.,
USA and offers a wide range of investment products in virtually all U.S. domestic and
international asset classes and in major capital markets of the world. Merrill Lynch Investment
Managers investment philosophy is designed to seek consistent, long-term strategic
performance results. Its disciplined value oriented approach to managing its clients portfolios
has been with the primary objective of seeking consistent returns over a long period. The
name of DSP Merrill Lynch Asset Management (India) Ltd. has been changed to DSP Merrill
Lynch Investment Managers Ltd. w.e.f 20th July, 2000
HDFC Mutual Fund
HDFC Asset Management Company Limited (AMC) was incorporated under the Companies
Act, 1956, on December 10, 1999, and was approved to act as an Asset Management
Company for the Mutual Fund by SEBI on June 30, 2000. The sponsor HDFC was
incorporated in 1977 as first specialized housing finance institution in India. HDFC provides
financial assistance to individuals, corporate and developers for the purchase and construction
of residential housing. It also provides property-related services, training and consultancy. In
the mutual fund venture, HDFC has tied up with Standard Life, one of the leading Insurance
companies in the United Kingdom, having vast experience in management of funds. HDFC
has developed a strong and dedicated team of agents that market its fixed deposit products.
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These key partners would constitute the backbone of the marketing and distribution network
of Mutual Fund and will remain a central theme of the organizational framework in times to
come.
Prudential ICICI Mutual Fund
Prudential ICICI Asset Management Company Limited is an investment management
company and a 55:45 joint venture between Prudential Corporation plc, UK, and ICICI Ltd.,
India. Both companies are financial giants, and each is a major player in its field. Prudential
Corporation plc, UK was incorporated in 1848, as a provider of insurance products. Through
its investments, it controls approximately 4% of all the listed shares on the second largest
stock exchange in the world, the London Stock Exchange, making it one of the largest
institutional investors in the UK. ICICI Ltd. was established in 1955 by the World Bank, the
Government of India and representatives of Indian industry, to promote the industrial
development of India by providing project and corporate finance to Indian industry. Prudential
ICICI Asset Management Company Limited has been incorporated with a capital of Rs 65
crore. This investment - way above the stipulated norm of Rs 10 crore, represents a strategic
long-term commitment, on the part of both partners, to the rapidly expanding financial
services sector in India. In a short span of 14 months, Prudential ICICIs product portfolio has
grown from 2 closed ended funds to 8 open ended funds and 2 closed ended funds.
SBI Mutual Funds
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SBI Funds Management Ltd. is the investment manager of SBI Mutual Fund. SBI Mutual
Fund has been constituted as a trust, sponsored by State Bank India. Today the Fund has an
investor base of over 2.8 million spread over 23 schemes. With a large network of collecting
branches and investor service centers, SBI Mutual Fund constantly endeavors to get closer to
its growing family of investors. SBI is the largest public sector Bank in India with 8,836
branches all over India. SBI is the leader in providing loans to trade & industry. It also
provides related services, which generate significant fee-based income. It has also identified
project finance and consumer banking as key areas.
TATA Mutual Fund
Tata TD Waterhouse Asset Management Private Limited is a Joint Venture between Tata
group and Canadian Major TD Waterhouse. TD Waterhouse is known as one of the best asset
managers, managing assets over $ 100 Bn. Tata Asset Management is a part of the Tata group.
The Shareholders of TAM are Tata Sons Limited, Tata Investment Corporation Limited and
Tata Finance Limited. Tata Investment Corporation Ltd. (TICL) was promoted by Tata Sons
Limited (TSL) in 1937, with the main objective of being an investment company. Tata Sons
Limited (TSL) is the principal investment holding company of TATAs. Through its operating
consultancy divisions Tata Consultancy Services, Tata Consulting Engineers, Tata Economic
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Consultancy Services and Tata Financial Services, it provides a wide range of services in the
areas of information technology, engineering, and financial services.
Standard Chartered Mutual Fund
The fund was established on March 13, 2000. Now the management of the fund has been
taken over by Standard Chartered Bank, the UK based banking conglomerate. The name of
the AMC too has been changed from ANZ AMC. Previously sponsored by ANZ Banking
Group, Australia, this fund has just set up its operations in the year 2000. Australia and New
Zealand Banking Group Limited, the previous sponsor of the fund, is a leading international
bank and is also one of the "Big Four" Australian commercial banks providing a full range of
banking and financial services with total assets of US $ 97.35 billion as on 30th Sept, 1999.
ANZ Funds Management is a core business unit of the group and is one of Australia s large
fund managers. It has a full range of investment products and services managing more than
AUD $ 13267.7 million in customer funds on 30th Sept., 1999. ANZ Banking Group has
significant presence in 35 nations from the Middle East through South Asia and East Asia to
the Pacific.
Kotak Mutual Funds
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Kotak Mahindra Asset Management Company Limited is a wholly owned subsidiary of Kotak
Mahindra Finance Ltd. Kotak Mahindra Finance Limited (KMFL) was set up in 1985 with a
capital base of Rs. 3 million and a single product. From those beginnings, KMFL has grown
over the last decade into a highly diversified financial services company with a net worth of
over Rs. 3 billion and more than 250,000 share, debenture and fixed deposit holders. The
Group currently offers financial services of every kind, including loans, lease and hire
purchase, consumer finance, car finance, investment banking, stock broking and primary
market distribution of equity and debt products, business information services and more. The
Group has offices in 30 Indian cities as well as in Dubai, Mauritius and London. Kotak
Mahindra (UK) Ltd, a subsidiary of KMFL, is the first company owned from India to be
registered with the Securities and Futures Authority in London.
INSURANCE MARKET IN INDIA:
The India Insurance market despite having a highly elaborate history spanning almost two
centuries, has come of age only in last 50 years after the formation of the Life Insurance
Corporation (LIC) of India in 1956 and the entry of private companies into the market in
2000.
Traditionally the Indian Insurance Market had centered on the life insurance until recently, a
host of other insurance policies covering a diverse range of issues and objects like Medical
Insurance, Accident Insurance, Fire Insurance, Automobile Insurance and other policies which
fall under the category of general insurance are being provided by various private insurance
companies.
Major Market Players: -
Birla Sun Life Insurance Company: -
27
Birla Sun Life Insurance Company is a 74:26 joint venturebetween Birla
group and Sun Life Financial. It is a private sector company.The company was registered on
31/1/2001. The market share for FY 2005-06 was 1.89%.
HDFC – Standard: -
HDFC standard is a 74:26 joint venture between HDFC andStandard Life. It is a
private sector company. The company was registeredon 23/10/2000. The market share for FY
2005-06 was 2.87%.
ICICI Prudential Life Insurance: -
ICICI Prudential Life is a 74:26 joint venture between ICICIand Prudential. It is
a private sector company. The company was registeredon 24/11/2000. The market share for
FY 2005-06 was 7.35%.
Life Insurance Corporation of India (LIC): -
Life Insurance Corporation of India is a 100% government heldPublic Sector
Company. Being the first to be established LIC is theforerunner in the Life Insurance sector.
The market share for FY 2005-06was 71.44%.
Kotak Mahindra OLD Mutual: -
Kotak Mahindra OLD Mutual is a 74:26 joint venture betweenKotak Mahindra
bank and Old Mutual. It is a private sector company. Thecompany was registered on
10/1/2001. The market share for FY 2005-06was 1.11%.
Max New York Life: -
28
Max New York Life is a 74:26 joint venture between J & Bank,Pallonji & Co and
MetLife. It is a private sector company. The company wasregistered on 6/8/2001. The market
share for FY 2005-06 was 1.23%.
29
COMPANY PROFILE
OF FAIR WEALTH SECURITIES
The Fair wealth – Anil Dhirubhai Ambani Group is among India’s top three private sector
business houses on all major financial parameters, with a market capitalisation of Rs.325,000
crores (US$ 81 billion), net assets in excess of Rs.115,000 crores (US$ 29 billion), and net
worth to the tune of Rs.55,000 crores (US$ 14 billion)
Fair wealth securities is a comprehensive electronic transaction platform offering a wide range
of asset classes. Its Endeavour is to change the way India transacts in financial markets and
avails financial services. Fair wealth securities is a single window, enabling you to access,
amongst others in Equities, Equity & Commodities Derivatives, Mutual Funds, IPOs, Life &
General Insurance products, Offshore Investments, Money Transfer, Money Changing and
Credit Cards.
Fair wealth securities is a group company of Fair wealth Capital; one of India's leading and
fastest growing private sector financial services companies, ranking among the top 3 private
sector financial services and banking companies, in terms of net worth. Fair wealth Capital
Ltd. has interests in asset management, life and general insurance, private equity and
proprietary investments, stock broking and other financial services. Fair wealth Capital is one
of India’s leading and fastest growing private sector financial services companies, and ranks
among the top 3 private sector financial services and banking companies, in terms of net
worth. The company has interests in asset management and mutual funds, life and general
insurance, private equity andproprietary investments, stock broking and other activities in
financial services
30
FAIR WEALTH GROUP
Fig. 4.1
31
FAIR WEALTH SECURITIES
Fair wealth securities is a group company of Fair wealth Capital, one of India's leading and
fastest growing private sector financial services companies, ranking among the top 3 private
sector financial services and banking companies, in terms of net worth. Fair wealth Capital is
a part of the Fair wealth Securties. Fair wealth securities is a comprehensive electronic
transaction platform offering a wide range of asset classes. Its endeavour is to change the way
India transacts in financial markets and avails financial services.
Fair wealth securities is a single window, enabling you to access, amongst others in Equities,
Equity & Commodities Derivatives, Mutual Funds, IPOs, Life & General Insurance products,
Offshore Investments, Money Transfer, Money Changing and Credit Cards
The Fair wealth Anil Dhirubhai Ambani Group is one of India's top 3 business houses, and
has a market capitalisation of over Rs.2,90,000 crore (US$ 75 billion),net worth in excess of
Rs.40,000 crore (US$ 10 billion), cash flows of Rs. 9,000 crore (US$ 2.2 billion), net profit of
Rs. 5,000 crore (US$ 1.3 billion) and zero net debt.
Fig. 4.2
32
BOARD OF DIRECTORS
Shri Dhirubhai H. Ambani

Founder Chairman Fair wealth Group
December 28, 1932 - July 6, 2002
Board of Directors of Fair wealth Industries Limited
Shri Mukesh D. Ambani

Chairman & Managing Director
Name Designation
Shri Nikhil R. Meswani Executive Director
Shri Hital R. Meswani Executive Director
Shri H.S.Kohli Executive Director
Shri P.M.S. Prasad Executive Director
Shri R. Ravimohan Executive Director
Table No. 4.1
PRODUCT PROFILE
RELIANC MONEY PRODUCT OFFERING
FAIR WEALTH SECURITIES DEMAT ACCOUNT SERVICES
33
Fair wealth securities – Transacting and investing simplified.
Get ready to change the way you transact and invest in financial products and services.
Whether you wish to transact in equity, equity & commodity derivatives, IPO’s offshore
investments or prefer to invest in mutual funds, life & general insurance products or avail
money transfer and money changing services, you can do it all through fair wealth securities.
Simply open a fair wealth securities account and enjoy the convenience of handling all your
key financial transactions through this one window.
Benefits of having a fair wealth securities account
• It’s cost effective
You pay comparatively lower transaction fees. As an introductory offer, we invite you to pay
a flat fee of just Rs. 500/- and 750/- and transact through fair wealth securities. This fee is
valid for two months or a specified transaction value
See the table below for details.
Fig. 5.1
34
• Its offers single – window access
Through fair wealth securities’s associates, you can transact in equity, equity and commodities
derivatives, offshore investments mutual funds, IPO’s life insurance, general insurance,
money transfer, money changing and credit cards, amongst others.
• Its convenient
You can access fair wealth securities’s services through
• The internet
• Transaction kiosks
• The phone (call & transact)
• Our all – India network of associates
On an assisted trade (through the call centre or our network of associates) a charge of Rs 12
per executed trade will be applicable.
• Its Safe
Your account is safeguarded with a unique security number that changes every 32 seconds.
This number works as a dynamics password to keep your account extra safe.
35
• Its provides you a demat account
You get your own demat account with fair wealth capital at an annual fee of just Rs. 50/-.
• Its provides you a 3-in-1 facility.
You can access your banking, trading and demat account through a single window and
transfer funds across accounts seamlessly.
• It provide you value- added services
At www.fair wealthmoney.com, you get
• Reliable research, including views of external experts with an enviable track record
• Live news updates from Reuters and Dow Jones
• CEO’s / expert views on the economy and financial markets
• Tools that help you plan your investments, tax, retirement, etc. in the personal finance
section
• Risk Analyzer for analysis of your risk profile
• Asset allocators to build an appropriate investment portfolio
• Innovative use of technology for facilitating convenient trading/investments – kiosks
(similar to ATM’s)
Required Documents
The extent of documentation required to open a demat account may vary according to your
relationship with the institution. If you plan to open a demat account with a bank, a savings,
current and, or other account for which the holder have been issued a check book, such holder
has an edge over the non-account holder. In fact, banks usually offer additional incentives to
36
customers who open a demat account with them. Along with the application form, your
photographs (with co-applicants) and proof of identity/residence/date of birth have to be
submitted. The DPs also ask for a DP-client agreement to be executed on non-judicial stamp
paper. Here is a broad list:
• A canceled check, preferably MICR
• Proof of Identification
• Proof of Address
• Proof of Pan card (mandatory)
• Recent photographs, one and, or more
For proof of identification and, or address self-attested facsimile copies of PAN card, Voter’s
ID, Passport, Ration card, Driver’s license, Photo credit card, Employee ID card, Bank
attestation, latest IT returns and, or latest Electricity/Landline phone bill are sufficient. While
they only ask for photocopies of the documents, they will need the originals for verification.
Points To Remember
1. Only securities admitted by NSDL can be dematerialized. The list is available with
your DP.
2. Only securities registered in the name of the account holder can be dematerialized.
37
3. Dematerialization is normally completed within 15 days after the share certificates
have reached the issuer/ their R&T Agent. Thus it may take you a month from the date
you hand over shares, to receive demat credit.
4. Dematerialization would be done only when the issuer / their R&T Agent is satisfied
of genuineness of securities & ownership status.
5. All the joint holders should sign the DRF.
6. The pattern of holding in the DRF should match the pattern of holding on the share
certificate & the pattern in which account is opened.
7. Demat requests with name(s) not matching exactly with the name(s) appearing on the
certificates merely on account of initials not being spelt out fully or put after or prior to
the surname, would be processed, provided the signature(s) of the client(s) on the DRF
tallies with the specimen signature(s) available with the issuer/ their R & T agent.
8. If the signature in the DRF does not match with the signature available with the issuer/
their R & T agent, the issuer/ their R & T agent may at the time of demat confirmation,
ask for additional documentation (like bank attestation/ notarisation, etc.) to prove that
the certificate belongs to the person who forwarded the DRF.
9. In case there is any problem in processing the DRF, contact your DP and if he cannot
resolve the problem you may contact NSDL.
FAIR WEALTH MUTUAL FUND
The Concept of Mutual Fund
38
A mutual fund is a common pool of money into which investors place their contributions that
are to be invested in accordance with a stated objective. The ownership of the fund is thus
‘joint’ and ‘mutual’; the fund belongs to all investors
Fair wealth Mutual Fund
Fair wealth Mutual Fund (RMF), a part of the Fair wealth - Anil Dhirubhai Ambani Group, is
India's leading Mutual Fund, with average Assets under Management of Rs. 90,813 crores for
the month of June 2008, and an investor base of over 6.7 million. Fair wealth Mutual Fund
offers investors a well rounded portfolio of products to meet varying investor requirements.
Fair wealth Mutual Fund has a presence in 300 cities across the country and constantly
endeavors to launch innovative products and customer service initiatives to increase value to
investors. Fair wealth Mutual Fund schemes are managed by Fair wealth Capital Asset
39
Management Ltd., a wholly owned subsidiary of Fair wealth Capital Ltd.
Fig. 5.2
Types of Mutual Funds on the Basis of Risk Vs Returns
40
Sector Funds
Diversified
Equity Funds
R Balanced Funds
e MIPs
t
Gilt Funds
u
Income
r Funds
n
s Floaters
Money Market
Funds
Risk
Fig. 5.3
Frequently used term in Mutual Funds
• Net Asset Value (NAV)
Net Asset Value is the market value of the assets of the scheme minus its liabilities. The per
unit NAV is the net asset value of the scheme divided by the number of units outstanding on
the Valuation Date.
• Sale Price
Is the price you pay when you invest in a scheme. Also called Offer Price. It may include a
sales load.
• Repurchase Price
Is the price at which a close-ended scheme repurchases its units and it may include a back-end
load. This is also called Bid Price
• Redemption Price
41
Is the price at which open-ended schemes repurchase their units and close-ended schemes
redeem their units on maturity? Such prices are NAV related.
• Sales Load
Is a charge collected by a scheme when it sells the units. Also called, ‘Front-end’ load.
Schemes that do not charge a load are called ‘No Load’ schemes
• Repurchase or ‘Back-end’ Load
Is a charge collected by a scheme when it buys back the units from the unit holders.
Types of Fair wealth Mutual Funds
1. Fair wealth Growth Fund
2. Fair wealth Vision Fund
3. Fair wealth Banking Fund
4. Fair wealth Diversified Power Sector Fund
5. Fair wealth Pharma Fund
6. Fair wealth Media & Entertainment Fund
7. Fair wealth NRI Equity Fund
8. Fair wealth Equity opportunities Fund
9. Fair wealth Index Fund
10. Fair wealth Tax Saver (ELSS) Fund
11. Fair wealth Equity Fund
12. Fair wealth Long Term Equity Fund
13. Fair wealth Regular Saving Fund
The key term in mutual funds
42
Dividend Policy: Dividend will be distributed from the available distributable surplus after
the deduction of the divided distribution surplus after the deduction of the dividend
distribution tax and the applicable surcharge, if any. The mutual fund is not guaranteeing or
assuring any dividend. Pease read the offer document for details. Further payment of all the
dividends shall be in compliance with SEBI circular No. SEBI/IMD/CIR No. 1/64057/06
dated 4/4/06.
Applicable NAV : Sale of units by fair wealth mutual fund: in respect of valid applications
received up to 3 p.m. by the mutual fund alongwith a local cheque or a demand draft payable
at par at the place where the application is
received, the closing NAV of the day on which application is received shall be applicable.
Repurchase including Switch-out: in respect of valid applications received upto 3 pm by the
mutual fund, same day’s closing NAV shall be applicable. In respect of valid applications
received after 3 p.m. by the mutual fund, the closing NAV of the next business day shall be
applicable.
Daily net Asset Value(NAV) publication: the NAV will be declared on all working days
and will be published in 2 newspaper.
Tax Benefits to the mutual fund: Fair wealth Mutual Fund is a Mutual fund registered with
the securities & exchange board of India and hence the entire income of the mutual fund will
be exempt from income tax in accordance with the provisions of section 10(23D) of the
income tax act, 1961. The mutual fund will receive all income without any deduction of tax at
source under the provisions of section 196(iv) of the act.
43
An exemption has been granted under the finance (No.2) act, 2004 to open ended equity
oriented mutual funds from paying distribution tax on income distributed without any time
limit, effective from 1 April 2004.
Securities transaction Tax:
Name of Transaction Payable by Rate of Tax

Purchase and sale of equity Both purchaser as well as 0.125%
shares or units of equity seller
oriented mutual funds on a
recognized stock exchange
on delivery basis
Sale on stock exchange of Seller 0.025%
equity shares or units of
equity oriented mutual
funds on non- delivery basis

sale of derivatives Seller 0.017%
reorganized stock exchange

Sale of units of equity Seller 0.25%
oriented mutual funds to the
mutual fund
Table No. 4.2
There are two types of investment in Mutual Funds.
• Lump Sum
• Systematic Investment Plan(SIP).
44
• Lump sum: In Lump sum the investment is only one times that
is of Rs. 5,000. and if the investment is monthly then the investment will be 6,000/-.
• Systematic Investment Plan(SIP) :
We have already mentioned about SIPs in brief in the previous pages but now going into
details, we will see how the power of compounding could benefit us. In such case, every small
amounts invested regularly can grow substantially. SIP gives a clear picture of how an early
and regular investment can help the investor in wealth creation. Due to its unlimited
advantages SIP could be redefined as “a methodology of fund investing regularly to benefit
regularly from the stock market volatility. In the later sections we will see how returns
generated from some of the SIPs have outperformed their benchmark. But before moving on
to that lets have a look at some of the top performing SIPs and their return for 1 year:
Total
Scheme Amount NAV NAV Date Amount
Fair wealth diversified power
sector retail 1000 62.74 30/5/2008 14524.07
Fair wealth regular savings
equity 1000 22.208 30/5/2008 13584.944
principal global opportunities
fund 1000 18.86 30/5/2008 14247.728
DWS investment opportunities
fund 1000 35.31 30/5/2008 13791.157
BOB growth fund 1000 42.14 30/5/2008 13769.152
Table No. 4.3
In the above chart, we can see how if we start investing Rs.1000 per month then what return
we’ll get for the total investment of Rs. 12000. There is fair wealth diversified power sector
retail giving the maximum returns of Rs. 2524.07 per year which comes to 21% roughly. Next
45
we can see if anybody would have undertaken the SIP in Principal would have got returns of
app. 18%. We can see fair wealth regular savings equity, DWS investment opportunities and
BOB growth fund giving returns of 13.20%, 14.92%, and 14.74% respectively which is
greater than any other monthly investment options. Thus we can easily make out how SIP is
beneficial for us. Its hassle free, it forces the investors to save and get them into the habit of
saving. Also paying a small amount of Rs. 1000 is easy and convenient for them, thus putting
no pressure on their pockets.
Now we will analyze some of the equity fund SIP s of Birla Sunlife with BSE 200 and bank
fixed deposits In a tabular format as well as graphical.
FAIR WEALTH LIFE INSURANCE
46
FAIR WEALTH POLICIES
Fig. 5.4
1. Fair wealth Term Plan
Welcome to Fair wealth Life
Life, as we know, is full of uncertainties. And to keep ahead of them, you need to plan ahead.
Fair wealth Term Plan is a pure life insurance Plan that offers you comprehensive and
affordable coverage for a limited period of time to suit your needs.
Key Features
Get higher insurance protection at economical rates
Optional Accidental and Disablement Rider to enhance protection
Economical way to protect your family against financial liabilities Like loss of income and
outstanding loans etc

Discount on premium rates for women
Suitable for business owners who want to cover the life of their key employees
2. Fair wealth Credit Guardian Plan
47
safeguard your loans today...
In today’s world of easily available loans, we often tend to neglect the price our loved ones
have to pay in case of our untimely demise.
Fair wealth Credit Guardian Plan ensures that your housing loans, personal loans or even
outstanding credit card bills are paid in the event of untimely demise. Thus keeping you and
your family protected from the burden and the worry of debt in such a situation.
Key Features
Different types of loans are covered under this Policy - Housing Loans,
Personal Loan, outstanding on credit cards etc

Limited premium paying term
Single & Regular Premium payment option
Discount on premium rates for women
Decreasing term insurance
3. Fair wealth Super Five Plus
Secure your dreams today...

Fair wealth Super Five Plus is the key to all your financial needs. You get a desired lump sum
after a specified period. However, your life insurance protection continues for an extended
period. If anything were to happen to you, your beneficiary will get another Sum Assured
along with the bonuses.
The Policy comes with an added feature of a limited Premium Term, which is always five
years less than the Policy Term.
Key Features
Twin Benefit of protection and savings
48
Sum Assured is paid on survival, at the end of the Premium Paying Term
Life Cover for full Sum Assured continues beyond Premium Paying Term
Extended Life Cover for five years after Premium Paying Term
Wealth creation through bonus additions
More value for your money by way of High Sum Assured Rebate
Choose to add the Benefit of two Riders - Critical Illness and Accidental Death Benefit and
Total and Permanent Disablement Rider

Choose to avail of a Policy Loan available after three full years of premium payment
Policy participates in profits even after Premium Paying Term
4. Fair wealth Whole Life Plan
With you today...
You’ve always loved your family. As a loving person you want to be rest assured that they
will be happy, even if something were to happen to you. With Fair wealth Whole Life Plan
you can be sure that your family will receive that timely financial support they need.
Go ahead, live your today to the fullest, without a worry about tomorrow.
Key Features
Insurance protection till age 85
Choice of extending your insurance coverage till age 99
Convenient Premium Payment Term
Wealth creation through bonus additions
More value for your money by way of High Sum Assured Rebate Get Sum
Assured plus Bonuses in case of your unfortunate death

Option to add two Riders – Critical Illness and Accidental Death Benefit and
Total and Permanent Disablement Rider

Policy Loan available after three full years premium payment
49
5. Fair wealth Premier Life
your contribution towards a secure future
UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.
This is a regular premium, unit linked savings plan. The plan offers the twin benefit of
insurance cover along with savings, by investing in market linked securities.
Key Features
Choice of eight different funds to choose from,including a Pure Equity Fund &
Sectoral Funds
Liquidity through partial withdrawals
Unmatched flexibility through switching, top-up's & premium redirection
Benefits:
Death - Sum Assured plus Fund Value as on date of intimation of death.

Maturity - Fund Value as on date of maturity
6. Fair wealth Total Investment Plan Series I - Insurance
50
total investment, total flexibility.
The journey of life, even though it may seem simple, comes with its own twists and turns,
some good, some unfortunate. And along with these moments come new dreams. With every
little twist, our dreams change and so do our ambitions. And most of all we desire a security
that will help us follow our dreams, both financial and emotional. It is this security that Fair
wealth Life Insurance Company Limited promises to bring to you with its Total Investment
Plan Series I Insurance.
We value your dreams in this journey of life. Fair wealth Total Investment Plan Series I
-Insurance (TIPS-I -Insurance) helps you bring them to reality. Your need for investment,
protection and financial liquidity keeps changing at different stages of life. The birth of a child
will require you to increase your insurance cover; a marriage in the family will require
additional money. We provide you that kind of flexibility which suits you best at your
convenience. Similarly on a promotion you may want to increase your investments to create a
large kitty for future expenses. As you progress on this ladder of life we provide you the
platform to increase your investment. Usually you would require multiple financial products
to meet all your needs and would have to actively manage them. However with the Fair wealth
TIPS-I -Insurance, Unit Linked Investment + Insurance Plan you can meet all your financial
needs, without the complexity of managing multiple products.
Key Features
This is a Single Premium unit linked savings life insurance plan with options to purchase the
same plan with reduced allocation charges in subsequent policy years. Since more Premium is
51
allocated towards investment due to lower allocation charges on subsequent purchases, greater
would be the returns. Purchasing the same plan in the subsequent years is an option.
1st purchase would be called as “Classic”
2nd purchase would be called as “Silver”
3rd purchase would be called as “Gold”
4th purchase would be called as “Diamond”
5th purchase would be called as “Platinum”
Once you purchase the first policy there will full flexibility, as to when second and subsequent
purchase can be made and how much Premium should be paid for each purchase subject to the
following:
1. The minimum Premium on each purchase should be at least Rs. 25000 for life assured
aged up to 40 and Rs. 50000 for life assured aged 41 to 64.
2. The maturity date on each purchase cannot exceed 70 years.
3. All the polices should mature on maturity date of the first purchase.
4. The term of the polices purchased during second, third, fourth and fifth policy years
will be 9, 8, 7 and 6 respectively.
5. New policy can be purchased only if all the previous polices are in force on the date of
purchase of new policy.
52
Plan Objective :
The pace setter plan with protection to life which gives
Tax benefit under Sec. 80C and Sec. 10(10D)* of Income Tax Act 1961
Investment opportunity with flexibility
Life protection
Control over your investments
7. Fair wealth Super Automatic Investment Plan
A plan that does all the work, while I relax
UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PROTFOLIO IS
BORNE BY THE POLICYHOLDER
Life is indeed delightful if you have the freedom to make choices. Fair wealth Super
Automatic Investment Plan gives you just that ample freedom! And we make this freedom
more enjoyable by giving you a sense of security. Whether it’s your insurance or investments,
we let you make the choice and leave the rest to us.
So allow us to take over and rest assured, because for us your LIFE comes FIRST… always.
This plan promises Life cover, with a complete flexibility to gain control over your
investments in tune with your financials needs and your risk appetite.
We present a plan that promises what you deserve as you reach greater heights in life.
For the select few like you, Fair wealth Super Automatic Investment Plan is an enhanced Unit
Linked plan addressing comprehensive needs to strike that perfect balance of Protection and
Savings with full flexibility as you grow in your career. Fair wealth Super Automatic
53
Investment Plan gives you full flexibility to choose just the right investment mix to reap
higher benefits.
Key Features – Fair wealth Super Automatic Invest Plan

Two plan options to choose from – Ready-made & Tailor-made.
Life Stage asset allocation to ensure automatic change in investment patterns - under
Ready-made Plan option.

Freedom to decide your own fund mix based on your risk profile under Tailor-made Plan
Allows Systematic transfer plan to average out the cost of unit purchases in equity.
Regular, limited, single premium paying options
Unmatched flexibility through our ‘Exchange Option‘ to move between Fair wealth suite
of unit linked products

Liquidity in the form of partial withdrawal
Option to package policy with Fair wealth Major Surgical Benefit Rider, Fair wealth
Critical Conditions (25) Rider, Fair wealth Term Life Insurance Benefit Rider, Fair
wealth Accidental Death and Total and Permanent Disablement Rider
8. Fair wealth Connect 2 Life Plan
no medicals.no hassles. answer 7 question you're insured!
54
Welcome to Fair wealth Life
Fair wealth Connect 2 Life Plan helps you build security & savings for a better tomorrow.
As your income is likely to grow, you should also ensure that you have sufficient protection
for your near and dear ones. Fair wealth Connect 2 Life Plan ensures that you have the option
to upgrade your life cover to keep pace with your changing lifestyle.
Key Features
Basic Benefits :
Each Fair wealth Connect 2 Life Plan you purchase pays out the following benefits:
Maturity Benefits: On survival of the life assured until maturity, the Plan pays the sum
assured plus simple vested bonuses to the policyholder.

Death Benefit: In case of unfortunate death of the life assured before the maturity date,
the Plan pays the sum assured plus simple vested bonuses to the nominee.
Choice of two plans:
At the time of initial purchase of Fair wealth Connect 2 Life Policy, you have two kinds of
plans to choose from namely, Gold Plan and Silver Plan.

The Fair wealth Connect 2 Life Gold Plan offers a life cover of Rs. 2,00,000 initially.
You may enhance your life cover to a maximum of Rs. 10,00,000 in two stages by
exercising your option..

The Fair wealth Connect 2 Life Silver Plan offers a relatively lower life cover
Rs.1,00,000 initially. You may enhance your life cover to a maximum of Rs. 5,00,000 in
two stages by exercising your option.
Options to enhance life cover:
Under each of the above two plans, you have an option to enhance your life cover amount.
At the end of one year from the date of initial purchase of Fair wealth Connect 2 Life
Gold / Silver Plan, you are entitled to enhance your life cover by exercising your option
55
to purchase an additional Fair wealth Connect 2 Life Policy.
Provided you have exercised your option to enhance life cover at the end of the first year,
you are entitled to enhance your life cover again at the end of the second year by
purchasing an additional Fair wealth Connect 2 Life Policy.
9. Fair wealth Total Investment Plan Series II - Pension
total investment, total flexibility.
Often we notice in our own lives and those of others, how the smallest alteration makes us
change our dreams. And sometimes, we are even forced to let go of these very dreams that
have been the cause of hope and happiness in our lives. All of us desire a security, a security
that will not just help us hold on to our dreams, but also make them larger and fulfill them. It
is this security that Fair wealth Life Insurance Company Limited promises to bring to you
with its Total Investment Plan Series II Pension. To know more, read further…
We value your dreams in this journey of life. Fair wealth Total Investment Plan Series- II
Pension (TIPS-II Pension) are the eyes to let you see them becoming reality.
Your need for investment keeps changing at different stages of life. We promise to walk
through every need with you in the span spent with us and ever beyond that and so on…
Whether it is start of your career, your marriage, birth of child, education of children, their
marriage, your old age requirements everywhere you would find Fair wealth Total Investment
Plan Series II- Pension assisting you financially and thereby providing relief mentally too in
totality.
56
Utilize our multifarious flexibility options at par as per your convenience.
As you progress on this ladder of life we provide you the platform to increase your investment
component. With the Fair wealth TIPS- II Pension you can meet all your financial needs,
without the complexity of managing multiple products.
Key Features
This is a Single premium unit linked pension plan with options to purchase the same plan with
reduced allocation charges in subsequent policy years. Since more premium is allocated
towards investment due to lower allocation charges on subsequent purchases greater would be
the returns. Purchasing the same plan in the subsequent years is an option.
1st purchase would be called as “Classic”
2nd purchase would be called as “Silver”
3rd purchase would be called as “Gold”
4th purchase would be called as “Diamond”
5th purchase would be called as “Platinum”
Once the client purchases the first policy there will full flexibility for the client as to when
second and subsequent purchase can be made and how much premium should be paid for each
purchase subject to the following -
1. The minimum premium on each purchase should be at least Rs. 25,000.
2. The maturity date on each purchase cannot exceed 70 years.
3. All the polices should mature on maturity date of the first purchase.
4. The term of the polices purchased during second, third, fourth and fifth policy years
will be 9, 8, 7 and 6 respectively.
57
5. New policy can be purchased only if all the previous polices are in force on the date of
purchase of new policy.
Plan Objective :
The pace setter plan with unmatched flexibility which gives
Tax benefit under Sec. 80CCC of Income Tax Act 1961

Investment opportunity with flexibility
Control over your investments
10. Fair wealth Secure Child Plan
he wants to be you. you want him to reach higher.
UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.
• Do you see your child becoming a trailblazer?
• Will they create the ultimate symphony or give sports a new dimension?
Our children may just be the ones to end the arms race and wipe out poverty from the face of
the Earth. But for them to be able to aim for the skies, YOU NEED TO ACT NOW!
Introducing Fair wealth Secure Child Plan - a unique life insurance cum savings plan. Start
saving from now and secure the future of your child.
Key Features – Fair wealth Secure Child Plan:

Insurance cover on the life of child
Money at critical milestones in your child's career path - college education, higher
education, marriage
Your child is completely protected - we will continue to pay the premiums even if you are
58
not alive
Life time income to child in the event of disability
Return Shield option to protect your investment returns
Liquidity in the form of partial withdrawals
Capital guarantee available on maturity and on death of the child under Regular Premium
basic policy
Option to package with Fair wealth Accidental Death and Total and Permanent
Disablement Rider, Fair wealth Critical Conditions Rider and Fair wealth Term Life
Insurance Benefit Rider.

Loyalty addition of 1% of the premiums paid under basic plan and top ups
RESEARCH METHODOLOGY
Research refers to search of knowledge .one can also define research methodology as a
scientific and systematic search for required information on a specific topic.
The word research methodology comes from the word “advance learner ‘s dictionary
meaning of research as a careful investigation or inquiry especially through research for new
facts in my branch of knowledge for example some author have define research methodology
as systematized effort to gain new knowledge.
Objective of Study
1. To study the working and performance of various Asset Management Company.
2. Overall perception of investors about mutual funds, Insurance and Demat account .
3. Acceptance of life insurance,mutual funds and demat accounts in India & its scope
in future
TYPES OF RESEARCH
1. Exploratory Research Design:- The major emphasis in exploratory
Research design is on discovery of ideas and insights.
59
2. Descriptive Research Design:- The Descriptive Research Design
Study is typically concerned with determining the frequency with which something
occurs or the relationship between two variables.
3. Casual Research Design:- A Casual Research Design is concerned
with determining cause and effect relationship.
The study is based on descriptive research.
There are two methods of sampling:-
1. Probability Sampling: It is based on the concept of random selection of a controlled
procedure that assures that each Population element is gives a non-zero chance of selection.
Probability Sampling is of following types:
1. Simple Random
2. Systematic
3. Cluster
4. Stratified
5. Double
2. Non-Probability Sampling: Non probability sampling is non-random and subjective. That
is each member does not have a known non zero chance of being included. Types of Non-
Probability Sampling
1. Convenience
2. Judgement
3. Quota
Researcher selects the sample as per their convenience.
60
For this research work researcher have chosen Non- Probability Convenience Sampling
because time limit for the completion of the work is limited and also managers and employees
are not available all the time.
SAMPLE SIZE :Considering the constraints it was decided to conduct the study based on
sample size of 100 people in specific age groups.
METHODS OF DATA COLLECTION
Primary Data:
Primary research entails the use of immediate data in determining the survival of the market.
The popular ways to collect primary data consist of surveys, interviews and focus groups,
which shows that direct relationship between potential customers and the companies.
Secondary Data:
Secondary data is obtained from some other organization than the one instantaneously
interested with current research project. Secondary data is collected and analyzed by the
organization to convene the requirements of various research objectives
In the project work Primary data secondary data (both) sources of data has been used .
Primary sources of data: In the primary sources of data used Observation Method &
Questionnaire method.
Secondary sources of data :In the secondary sources of data is used. (Internet , magazine
,books, journals)
The research is based on primary data.
61
TOOLS OF ANALYSIS
In the project work quantitative technique & percentage method are has been used.
RESEARCH DESIGN
For the proper analysis of data simple quantitative technique such as percentage were used . It
help in marketing more accurate generalization From the data available .The data which was
collected from a sample of population was assumed to be representing entire population was
interested .Demographic factor like age, income and educational background was used for the
classification purpose .
FINDINGS & ANALYSIS
Finding related to Demat Service
Q .1 Which bank is easily available every were ?
Table No. 7.1
Company Name Percentage of respondent

Fair wealth securities 50
ICICI 30
HDFC 20
Fig. 7.1
62
20
Fair wealth
50 ICICI
HDFC
30
Interpretation:
50% have respondent of Fair wealth securities, 20% have respondent of HDFC, 30% have
respondent of ICICI.
Q.2Which banking Demat account offered you a large no. of services?
Table No. 7.2

HDFC 25
ICICI 30
Fig. 7.2
63
30
45 fair wealth
HDFC
ICICI
25
Interpretation:
Q.3 Which bank provides you a better email facility?
Table No. 7.3

HDFC 22
ICICI 32
Fig. 7.3
64
32
fair wealth
46
HDFC
ICICI
22
Interpretation:
Q.4 Which company provide a less Brokerage rate?
Table No. 7.4

HDFC 30
ICICI 28
Fig. 7.4
65
28
Reiance
42
HDFC
ICICI
4th Qtr
30
Interpretation:
Q. 5 Which company provide you a large number of product and services?
Table No. 7.5

HDFC 15
ICICI 30
Fig. 7.5
66
30
Fair wealth
HDFC
55
ICICI
15
Interpretation:
Finding related to Mutual Fund Service
Q6. Are you aware of Mutual Funds?
Table No. 7.6
YES 77%
NO 23%
Fig. 7.6
67
23
Yes
No
77
Interpretation:
77% of the people aware about the mutual funds and only 23% are not aware about the mutual
funds.
Q7. Are you aware of the followings in relation to mutual funds?
Table No. 7.7
Different types of schemes 35%

Sponsor 10%
NAV 35%
AMFI 20%
Fig. 7.7
68
20 Different types of
schemes
35
Sponsor
NAV
35 AMFI
10
Interpretation:
35% of people are aware about different types of schemes and about 35% for NAV. 20%
people are aware about AMFI and only 10% are aware about the sponsors.
Q8.How did you come to know about Mutual fund investment schemes?
Table No. 7.8
Reference groups 12%

Internet/Mail 15%
Financial
Magazine/Newspaper 25%
Television 8%
Broker & Agents 40%
69
Fig. 7.8
12
Reference groups
40 15 Internet/Mail
Financial magazine
Telvision
Broker & Agents
25
8
Interpretation:
40% of people come to know through brokers & agents. Second best is newspaper &
Financial magazine having a stake of 25%., third best is internet / Mail having a 15%, fourth
best is reference groups having a stake 12% & fifth best is television having a stake 8%
Q9. Which all mutual fund you have invested in?
Table No. 7.9
Fair wealth Mutual Fund 55%

ICICI Mutual Fund 23%
S.B.I. Mutual Fund 12%
Any other specify ……… 10%
70
Fig. 7.9
10
12
Fair wealth
ICICI M/F
55 SBI M/F
23 Any other
Interpretation:
55% of people invest in fair wealth mutual fund and about 23% invest in ICICI mutual fund,
12% of people invest in SBI mutual fund & 10% of people invest in any other company
mutual fund
It means Fair wealth Mutual Fund has the more brand equity as compare to the
other Mutual Fund available in the market.
Q10.Do you view following factors/ source of information important while investing in
mutual fund?
Table No. 7.10
Safety 8%
Liquidity 6%
Return earned 6%
Tax saving 5%
All the above 75%
71
Fig. 7.10
8
6
6 Safety
Liquidity
5
Return earned
Tax saving
All the above
75
Interpretation:
8% of people invest mutual fund safety, 6% of people invest mutual fund liquidity, returned
earned and 5% of people invest in mutual fund tax saving are important and considered while
making investment in mutual funds .However, 75% investors consider nearly all the factors.
Q11.Do you find following source of information relevant to analyze the performance of
your investment?
Table No. 7.11
Monthly updates 10%

Quarterly Results 12%
Half yearly Reports 10%
Annual Reports 20%
Newspapers 30%
Websites of respective mutual 9%
funds
72
AMFI website 9%
Fig. 7.11
9 10
Monthly
9
12 Quarterly
Half Yearly
Annual
10
News paper
30
Websites
20 AMFI
Interpretation:
The result shows that majority is occupied by newspaper having 30%.20% by annual
reports,10% each for monthly and halfyearly updates while 9% each by websites of respective
mutual funds and AMFI website
Finding related to Insurance Service
12. Do you have any Insurance Policy?
Table No. 7.12
RESPONSE SHARE (%)
Yes 70%
No 30%
73
Fig. 7.12
30
Yes
No
70
Interpretation:
70% of the respondents are having Insurance policy, 30% of the respondents are either not
having any Insurance policy at present or their policy is already matured.
13. Which Insurance Policy do you have?
Table No. 7.13
POLICY TYPE SHARE (%)
LIFE POLICY 60
NON LIFE POLICY 25
BOTH 15
74
Fig. 7.13
15
Life Policy
Non Life Policy
25
60 Both
Interpretation:
60% of the respondents have Life Insurance Policy, 25% of the respondents have Non Life
Insurance Policy & while15% has both.
14. Which Co’s Insurance Policy you prefer the most?
Table No. 7.14
COMPANY’S NAME SHARE (%)
L.I.C. 78
75
FAIR WEALTH LIFE INSURANCE 3
ICICI PRUDENTIAL 10
SBI LIFE INSURANCE 7
HDFC LIFE INSURANCE 2
Fig. 7.14
LIC
10
5 Reliance Life
30 Insurance
ICICI Prudential
15
SBI Life Insurance
HDFC Life Insurance

40
Fair wealth
insurance
Interpretation:
40% of the people prefer Fair wealth Life Insurance policy, 30% of the people prefer LIC
Policy, 15% of the people prefer ICICI Prudential,10% of the people prefer HDFC Life
Insurance Policy & 5% of the people prefer SBI Life Insurance,
15. What are the benefits of insurance cover?
Table No. 7.15
BENEFITS SHARE (%)
Cover Future Uncertainty 55
76
Tax Deductions 20
Future Investment 25
Fig. 7.15
25
Cover Future
Uncertainty
Tax Deductions
55
Future Investment
20
Interpretation:
55% of the respondents believe that covering future uncertainty is the biggest benefit of an
insurance policy, Whereas, 20% and 25% of them believe that the other benefits are Tax
deduction and future investments respectively.
CONCLUSION
This research study has help me a lot in arriving a particular conclusion for the selling the
financial product of Fair wealth securities.
77
50% of the respondents support the fact that the Fair wealth securities is easily available
everywhere in comparison of its competitor like ICICI & HDFC.
The Fair wealth securities Demat account offers a large number of Service supporting 45% of
the respondents leaving behind the number of service at HDFC & ICICI.
46% of the respondents support that the e-mail facility at Fair wealth securities. The large
number of product & services are widely available with Fair wealth securities.
Fair wealth securities provides the mutual fund to the clients by making them aware with
various sources.
Market of the clients of Fair wealth securities to about mutual fund investment scheme
through magazine & news paper with brokers and agents with 40%.
The factors that a considered to the resources of information while investing in mutual funds
include safety, liquidity, return earned & tax saving with difference percentage of respondents.
About 70% of clients of Fair wealth securities have Insurance Policy with them. Life Policy of
the Fair wealth securities a widely available with the customers.
Fair wealth Life insurance holds 3% of share which are comparatively less than LIC.
SUGGESTION
• The most vital problem spotted is of ignorance. Investors should be made aware of the
benefits. Nobody will invest until and unless he is fully convinced.
78
• Mutual funds offer a lot of benefit 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 mindsets.
The advisors should target for more and more young investors.
• The Brand image of Fair wealth securities is good in market but according to customer
satisfaction the company have to provide the better service.
• And Fair wealth securities also need to change the Market strategy to meet the current
scenario.
• Advertising of the insurance product should be used to create awareness with brand
identity.
• Insurance should be popularized as the means of securing future rather than saving tax.
LIMITATIONS
• Faced little bit of difficulty in collecting the required data because most of the people
are found illiterates.
79
• Good time, efforts and money was spent in contacting the respondent to get the
questionnaire filled.
• Problem is faced with preparing the questions due to non-technical background and
inexperience.
• Some of the respondents were not ready to fill the respondent’s profile.
• Some of the respondents were not ready to fill up the Questionnaire due to lack of
time.
BIBLIOGRAPHY
Books :
80
• Kothari C.R, research methodology, Wishwa Prakashan, New Delhi, Second edition,
2008, Page no 234 - 238
• Kotler. Phillip , Marketing Management, Publication of Pearson Prentice hall, 13th

Edition, 2009, Page no 325-333
Websites:
https://charts.fair wealthsecurities.com
vccircle.com/.../prizm-buys-fair wealth-moneys-pos-biz-eyes-atm-networks -
www.aboutus.org/HdFcIndia.com
https://secure.icicidirect.com/customer/logon.asp
www.icicibank.com/pfsuser/.../internetbanking.htm
QUESTIONNAIRE
81
Q1. Which bank is easily available every were ?
a) Fair wealth securities 
b) HDFC 
c) ICICI 
Q2. Which banking demat account offered you a large no. of services?
b) HDFC 
c) ICICI 
Q3. Which bank provides you a better email facility?
b) HDFC 
c) ICICI 
Q4. Which company provides a less brokerage rate?
b) HDFC 
c) ICICI 
Q5. Which company provides you a large number of product and services?
b) HDFC 
c) ICICI 
Finding Related To Mutual Fund Service
Q6. Are you aware of mutual funds?
82
a) Yes 
b) No 
Q7. Are you aware of the followings in relation to mutual funds?
a) Different Types Of Schemes 
b) Sponsor 
c) NAV 
d) AMFI 
Q8. How did you come to know about mutual fund investment schemes?
a) Reference Groups 
b) Internet/Mail 
c) Financial Magazine/Newspaper 
d) Television 
e) Broker & Agents 
Q9. Which all mutual fund you have invested in?
a) Fair wealth Mutual Fund 
b) ICICI Mutual Fund 
c) S.B.I. Mutual Fund 
d) Any Other Specify ……… 
Q10. Do you view following factors/ source of information important while investing
in mutual fund?
a) Safety 
83
b) Liquidity 
c) Return Earned 
d) Tax Saving 
e) All The Above 
Q11. Do you find following source of information relevant to analyze the performance of
your investment?
a) Monthly Updates 
b) Quarterly Results 
c) Half Yearly Reports 
d) Annual Reports 
e) Newspapers 
f) Websites Of Respective Mutual Funds 
g) AMFI Website 
Finding Related To Insurance Service
Q12. Do you have any insurance policy?
a) Yes 
b) No 
Q13. Which Insurance Policy do you have?
a) Life Policy 
b) Non Life Policy 
84
c) Both 
Q14. Which Co’s Insurance Policy you prefer the most?
a) LIC 
b) Fair wealth Life Insurance 
c) ICICI Prudential 
d) SBI 
e) HDFC 
Q15. What do you think are the benefits of insurance cover?
a) Cover future uncertainty 
b) Tax deductions 
c) Future investment 
85

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INTRODUCTION

WHAT IS DEMAT ACCOUNT?

delays. It is also safe, secure and convenient.Demat refers to a dematerialised account.Just as

IS A DEMAT ACCOUNT A MUST

demat account is a must for trading and investing.

enables quick ownership of securities on settlement resulting in increased liquidity, avoids

quick receipt of such benefits as stock splits and bonuses.

Have you decided to buy shares this year?

promises to be big this year.

tackle a few questions that come to mind.

What's the difference between a depository and a depository participant

The depository has agents who are called depository participants.

(NSDL) and the Central Depository Services Ltd (CDSL).

where actual money is replaced by shares.

Benefits of Demat Account

securities, delays, forgery, counterfeiting, thefts and loss due to fire.

• Reduces brokerage charges

• Pledging/Hypothecation of shares is easier

• Enables quick ownership of securities on settlement thereby resulting in increased

• Reduction in paperwork involved in transfer of securities

cent stamp duty is payable).

Along with the application form, following documents are required:

• A cancelled MICR cheque

• Copy of PAN card (mandatory)

• Photograph of the applicant.

Procedure for Dematerialisation

dematerialisation, your depository account would be credited with the dematerialised

Importance of Demat Account

• Settlement of securities traded on the exchange as well as off market transactions.

• Shorter settlements thereby enhancing liquidity.

• Pledging and Hypothecation of Dematerialized Securities.

• Electronic credit in public issue.

• Receipt of non-cash benefits in electronic form.

• No stamp duties on transfer of securities held in demat form.

commercial paper and government securities

and a debt fund would invest in bonds, debentures, gilts etc.

Working of Mutual Funds

A mutual fund is set up by a sponsor. However, the

sponsor cannot run the fund directly. He has to set up

two arms: a trust and Asset Management Company.

generated by selling securities or capital appreciation of these securities is passed on to the

Fair wealth securities – Transacting and investing simplified.

all your key financial transactions through this one window.

account for share trading involving more than 500 shares.

WHAT IS LIFE INSURANCE.?

presently is of the order of Rs 450 Billion. Together with

economic development as it provides long-term funds for infrastructure development and at

some extent, can enable investments in infrastructure development to sustain economic

INSURANCE MARKET IN INDIA:

 Various investment avenues that is available to the customer.

 Major player in the field of insurance, mutual fund & demat

 The growth of opportunities available to the Fair wealth securities.

technology in computer world.

 Simple, easy and fast online stock trading.

Derivatives, Forex, Commodity, IPO, Mutual Funds and Insurance.

MAJOR COMPANIES OF DEMAT ACCOUNT

Lac demat accounts.

documents that get mutilated or lost in transit.

Mutual Funds and Bonds. Trading is available in BSE and NSE

ICICIDirect offers 3 different online trading platforms to its customersType of Account

This account allows Cash Trading, Margin Trading,

Wise Investment Account