A

PROJECT REPORT

ON
“THE STUDY OF MUTUAL FUND IN UNION BANK”

IN PARTIAL FULFILLMENT OF
BACHELOR OF BUSINESS ADMINISTRATION

(T.Y.B.B.A.)[CBCS Pattern]

SAVITRIBAI PHULE PUNE UNIVERSITY

SUBMITTED TO

K.V. N NAIK SHIKSHAN PRASARAK SANSTHA’S

ARTS, COMMERCE AND SCIENCE COLLEGE

CANADA CORNER, NASHIK –

UNDER GUIDANCE OF
PRO. WAGH MADAM

ACADEMIC YEAR
2022-2023
PREPARED BY

MS DATE SHITAL GORAKH

Entrnship certifecate
Ackowledgment

It is great pleasur to me in acknowledment my deep sense of gratitude to all those who have
helped me in compeleting this projects successfully .first of all , would like to thank savitribai
phule pune university for provinding me an opportunity to undrtake a project as a partial
fulfilment of BBA degree in additional providing guidance in developing in my project .
I greatly appreciate the staff of the surveyed business unit who responded promptly and
enthusiastically to my requests for frank comments despite their congested schedules I am
indebted to all of them who did their bestirring improvements through their suggestion
I would like the thanks ms supriya pawar mam department satff whose valuable gauidance
and encouragement at every phase of the project has helped me to prepare this project
successfully.
All the faculities ,office satff and libarary satff of [Link] college nashik and friends
who helped me in some or other way in making this project.

Palce Nashik NAME OF THE STUDNET

DATE : /2023 DATE SHITAL GORKH
 DECLARATIONI

here by declare that information gathered during two months period is strictly utilized for
thepurpose of project report. The project is completed as per rules and regulation of Savitribai
PhulePune University for full time BBA (Bachelor of business administration ) course which I
amperusing from [Link] ,ARTS, COMMERCE AND SCIENCE COLLEGE NASHIK.I
honestly express that the information is not collected with any commercial intentions ,the
solemotive is to learn real business practices and prepare project on [Link] confidential
information of Cravesale has been included in project report.
INDEX

CHAPTER TITLE PAGE NO

Chapter- 1
Introduction to Project

1.1 Basic Theoretical Concept.

1.2 Selection of Topic.

1.3 Objective of Study.

1.4 Limitation of Study

Chapter 2 Company Profile

Name & Address of

2.1 Organization.
Vision & Mission of
2.2 Organization.

2.3 History of Organization.

2.4 Product of Organization.

2.5 Process
Research
Chapter-3 Methodology
Concept & Definition of
3.1 Research.
Research Methodology for
3.2 Project.
Data Analysis & Interpretation
Chapter- 4

Chapter -5 Conclusion.

Chapter- 6 Suggestions.

Chapter- 6 Bibliography.
CHAPTER 1

Introduction

A mutual fund is a collective investment vehicle that collects & pools money from a number of
investors and invests the same in equities, bonds, government securities, money market
instruments. The money collected in mutual fund scheme is invested by professional fund
managers in stocks and bonds etc.

A mutual fund is a collective investment vehicle that collects & pools money from a number of
investors and invests the same in equities, bonds, government securities, money market
instruments.

The money collected in mutual fund scheme is invested by professional fund managers in stocks
and bonds etc. in line with a scheme’s investment objective. The income / gains generated from
this collective investment scheme are distributed proportionately amongst the investors, after
deducting applicable expenses and levies, by calculating a scheme’s “Net Asset Value” or NAV.
In return, mutual fund charges a small fee.

In short, mutual fund is a collective pool of money contributed by several investors and managed
by a professional Fund Manager.
Mutual Funds in India are established in the form of a Trust under Indian Trust Act, 1882, in
accordance with SEBI (Mutual Funds) Regulations, 1996.

The fees and expenses charged by the mutual funds to manage a scheme are regulated and are
subject to the limits specified by SEBI.

Over the past decades mutual funds have grown intensely in popularity and have experienced
a considerable growth rate. Mutual funds are popular because they make it

easy for small investors to invest their money in a diversified pool of securities. As the mutual
fund industry has evolved over the years, there have arisen many questions about the nature
of operations and characteristics of these funds. Thus the fund evaluation process helps the
investors to know more about the funds and its performance. Mutual fund is the pool of the
money, based on the trust who invests the savings of a number of investors who shares a common
financial goal, like the capital appreciation and dividend earning. The money thus collect is
then invested in capital market instruments such as shares, debenture, and foreign market.
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 man as it offers an
opportunity to invest in diversified portfolio management, good research team, professionally
managed Indian stock as well as the foreign market, the main aim of the fund manager is to taking
the scrip that have under value and future will rising, then fund manager sell out the stock.
WHAT ARE MUTUAL FUNDS?

A mutual fund is a pool of money managed by a professional Fund Manager.

It is a trust that collects money from a number of investors who share a common investment
objective and invests the same in equities, bonds, money market instruments and/or other
securities. And the income / gains generated from this collective investment is distributed
proportionately amongst the investors after deducting applicable expenses and levies, by
calculating a scheme’s “Net Asset Value” or NAV. Simply put, the money pooled in by a large
number of investors is what makes up a Mutual Fund.

Here’s a simple way to understand the concept of a Mutual Fund Unit.

Let’s say that there is a box of 12 chocolates costing ₹40. Four friends decide to buy the same,
but they have only ₹10 each and the shopkeeper only sells by the box. So the friends then decide
to pool in ₹10 each and buy the box of 12 chocolates. Now based on their contribution, they each
receive 3 chocolates or 3 units, if equated with Mutual Funds.

And how do you calculate the cost of one unit? Simply divide the total amount with the total
number of chocolates: 40/12 = 3.33.

So if you were to multiply the number of units (3) with the cost per unit (3.33), you get the initial
investment of ₹10.

This results in each friend being a unit holder in the box of chocolates that is collectively owned
by all of them, with each person being a part owner of the box.

Next, let us understand what is “Net Asset Value” or NAV. Just like an equity share has a traded
price, a mutual fund unit has Net Asset Value per Unit. The NAV is the combined market value
of the shares, bonds and securities held by a fund on any particular day (as reduced by permitted

expenses and charges). NAV per Unit represents the market value of all the Units in a mutual
fund scheme on a
given day, net of all expenses and liabilities plus income accrued, divided by the outstanding
number of Units in the scheme.

Mutual funds are ideal for investors who either lack large sums for investment, or for those who
neither have the inclination nor the time to research the market, yet

want to grow their wealth. The money collected in mutual funds is invested by professional fund
managers in line with the scheme’s stated objective. In return, the fund house charges a small fee
which is deducted from the investment. The fees charged by mutual funds are regulated and are
subject to certain limits specified by the Securities and Exchange Board of India (SEBI).

India has one of the highest savings rate globally. This penchant for wealth creation makes it
necessary for Indian investors to look beyond the traditionally favoured bank FDs and gold
towards mutual funds. However, lack of awareness has made mutual funds a less preferred
investment avenue.

Mutual funds offer multiple product choices for investment across the financial spectrum. As
investment goals vary – post-retirement expenses, money for children’s education or marriage,
house purchase, etc. – the products required to achieve these goals vary too. The Indian mutual
fund industry offers a plethora of schemes and caters to all types of investor needs.

Mutual funds offer an excellent avenue for retail investors to participate and benefit from the
uptrends in capital markets. While investing in mutual funds can be beneficial, selecting the right
fund can be challenging.

Hence, investors should do proper due diligence of the fund and take into consideration the risk-
return trade-off and time horizon or consult a professional investment adviser. Further, in

order to reap maximum benefit from mutual fund investments, it is important for investors to
diversify across different categories of funds such as equity, debt and gold.

While investors of all categories can invest in securities market on their own, a mutual fund is a
better choice for the only reason that all benefits come in a package.
HOW A MUTUAL FUND WORKS?

One should avoid the temptation to review the fund's performance each time the market falls or
jumps up significantly. For an actively-managed equity scheme, one must have patience and
allow reasonable time - between 18 and 24 months - for the fund to generate returns in the
portfolio.

When you invest in a mutual fund, you are pooling your money with many other investors.
Mutual fund issues “Units” against the amount invested at the prevailing NAV. Returns from a
mutual fund may include income distributions to investors out of dividends, interest, capital
gains or other income earned by the mutual fund. You can also have capital gains (or losses) if
you sell the mutual fund units for more (or less) than the amount you invested.

One should avoid the temptation to review the fund's performance each time the market falls or
jumps up significantly. For an actively-managed equity scheme, one must have patience and
allow reasonable time - between 18 and 24 months - for the fund to generate returns in the
portfolio.

When you invest in a mutual fund, you are pooling your money with many other investors.
Mutual fund issues “Units” against the amount invested at the prevailing NAV. Returns from a
mutual fund may include income distributions to investors out of dividends, interest, capital
gains or other income earned by the mutual fund. You can also have capital gains (or losses) if
you sell the mutual fund units for more (or less) than the amount you invested.
BASIC THERITICAL CONCEPT

A mutual fund is a pool of money managed by a professional Fund Manager. It is a trust that
collects money from a number of investors who share a common investment objective and
invests the same in equities, bonds, money market instruments and/or other securities.

Most mutual funds fall into one of four main categories – money market funds, bond funds, stock
funds, and target date funds. Each type has different features, risks, and rewards.

Money market funds have relatively low risks. By law, they can invest only in certain high-
quality, short-term investments issued by U.S. corporations, and federal, state and local
governments.

Bond funds have higher risks than money market funds because they typically aim to produce
higher returns. Because there are many different types of bonds, the risks and rewards of bond
funds can vary dramatically.

Stock funds invest in corporate stocks. Not all stock funds are the same. Some examples are:

Growth funds focus on stocks that may not pay a regular dividend but have potential for above-
average financial gains.
Income funds invest in stocks that pay regular dividends.

Index funds track a particular market index such as the Standard & Poor’s 500 Index.

Sector funds specialize in a particular industry segment.

Target date funds hold a mix of stocks, bonds, and other investments. Over time, the mix
gradually shifts according to the fund’s strategy. Target date funds, sometimes known as
lifecycle funds, are designed for individuals with particular retirement dates in mind.
SECTION OF THE MUTUAL FUND

ELSS is a type of Mutual Fund which allows you to claim for income tax deduction. You can
save up to ₹ 1.5 lakhs a year in taxes by investing in ELSS, which is covered under Section 80C
of the Income Tax Act, 1961.

ELSS mutual funds are the only class of mutual funds that are covered under Section 80C of the
Income Tax Act, 1961.
OBJECTIVE OF THE STUDY

1. To study some of the mutual fund schemes and analyse them

2. Explore the recent development in the mutual funds in India.

3. To give an idea about the regulations of mutual funds

.4. To give a brief idea about the benefits available from Mutual Fund investment.
LIMITATION OF THE STUDY

The limited information in the secondary survey report is a fundamental obstacle in finding
out the true consequences of investing in a mutual fund system by investors.

The study is limited to the different schemes available under the mutual funds selected.

The study is limited to selected mutual fund schemes

. The lack of information sources for the analysis part.

CHAPTER 2

COMPANY PROFILE
COMPANY NAME : UNION BANK OF INDIA

ADDRESS OF ORGANISION : B -50, A- ROAD, K,P INDUSTRIES

COMPOUND , NICE AREA MIDC , SATPUR COLONY , NASHIK , MAHARASHRTRA

422007
VISION AND MISSION

Our Bank’s Financial Inclusion vision is to ensure coverage of each member of household in the
country in banking umbrella by opening saving accounts and providing Banking services such as
micro credit, RuPay card, Aadhaar based services, financial literacy, and empowerment of
women, Direct Benefit Transfer, Insurance & pension services etc.

With a commitment to reach the un-reached and with a firm corporate belief that even the poor is
bankable, financial services to be extended at an affordable cost in an on-going basis to improve
quality of life of all those who have been hitherto deprived of financial services from formal
financial institutions. Our Bank’s Financial Inclusion vision is to ensure coverage of each
member of household in the country in banking umbrella by opening saving accounts and
providing Banking services such as micro credit, RuPay card, Aadhaar based services, financial
literacy, and empowerment of women, Direct Benefit Transfer, Insurance & pension services etc.
MISSON

Union members come together to make workplace improvements. Unions advocate for working
people to keep us safer, healthier and able to enjoy a higher quality of life. All working people
should have the freedom to join a union to make their workplaces better and negotiate for the
wages and benefits they deserve.
HISTROY OF UNION NANK OF INDIA

Union Bank of India was established on 11 November 1919 in Bombay (now Mumbai) by Seth
Sitaram Poddar. The bank's corporate office was inaugurated by Mahatma Gandhi. At the time of
India's independence in 1947, the bank had four branches – three in Mumbai and one in
Saurashtra in trade [Link] the time the Indian government nationalized UBI in 1969, it had
240 branches. In 1975, it acquired Belgaum Bank, a private sector bank established in 1930 that
had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank (Bijapur; incorporated on
10 May 1948). In 1985, it acquired
Miraj State Bank, which had been established in 1929, and which had 26 branches. In 1999, UBI
acquired Sikkim Bank with its eight branches.

UBI expanded internationally in 2007 with the opening of offices in Abu Dhabi, United Arab
Emirates and in Shanghai, China. In 2008, it established a branch in Hong Kong. In 2009, Union
Bank opened a representative office in Sydney, Australia.

On 30 August 2019, Finance Minister Nirmala Sitharaman announced that Andhra Bank and
Corporation Bank would be merged into Union Bank of India. The proposed merger would make
Union Bank the fifth largest public sector bank in the country with assets of ₹14.59 lakh crore
(US$180 billion) and 9,609 branches. The Board of Directors of Andhra Bank approved the
merger on 13 [Link] Union Cabinet approved the merger on 4 March, and it was
completed on 1 April 2020.

Union Bank of Nigeria’s rich history can be traced to 1917 when it was first established as
Colonial Bank.

In 1925 the bank became known as Barclays Bank DCO (Dominion, Colonial and Overseas)
resulting from its acquisition by Barclays Bank. Following Nigeria’s independence and the
enactment of the Companies Act of 1968, the bank was incorporated as Barclays Bank of Nigeria
Limited (BBNL, est. 1969).

Between 1971 and 1979, the bank went through a series of changes including its listing on the
NSE and share acquisitions/transfers driven by the Nigerian Enterprises Promotion Acts (1972
and 1977); this resulted in its evolution into a new wholly Nigerian-owned entity. To reflect the
new ownership structure, and in compliance with the Companies and Allied Matters Act of 1990,
it assumed the name Union Bank of Nigeria Plc. (UBN “the Bank” or “Union Bank”).
In 1993, in line with its privatisation/commercialisation drive, the Federal Government divested
by selling its controlling shares (51.67%) to private investors. Thus, Union Bank became fully
owned by Nigerian citizens and organizations all within the private sector. During the Central
Bank of Nigeria’s (CBN) banking sector consolidation policy, Union Bank of Nigeria Plc
acquired the former Universal Trust Bank Plc and Broad Bank Ltd. and absorbed its one-time
subsidiary, Union Merchant Bank Ltd.

In compliance with CBN’s Regulation 3, UBN is divesting of all non-core banking subsidiaries,
which aligns with our core banking business model. Union Bank, United Kingdom (UBUK) will
remain the only subsidiary of the bank.

Following the banking crisis in 2009 and the intervention of the CBN via Asset Management
Company of Nigeria (AMCON), the bank was recapitalized in 2012 with an injection of $500
million by Union Global Partners Limited (UGPL), a consortium of local and international
investors. UGPL acquired 65% of the bank’s shareholding and in the last quarter of 2014,
AMCON’s remaining 20% stake in the bank was acquired by Atlas Mara. UGPL comprises:
SERVICES OF THE UNION BANK OF INDIA

Advancements of loans.

Cheque payments.

Discounting on bills of exchange.

Collecting and paying the credit instruments.

Guarantee by banks.

Consultancy.

Credit cards.

Funds remittance.

Asset Finance

Cash/Liquidity management

Working capital

Foreign Exchange

Letters of credit

Bonds and Guarantees

Internet Banking

New savings Account.

Home Loan.

Personal Loan.

Mudra STP.

KCC STP.

Nari Shakti STP.

PROCESS

One can invest in mutual funds by submitting a duly completed application form alongwith a
cheque or bank draft at the branch office or designated Investor Service Centres (ISC) of mutual
Funds or Registrar & Transfer Agents of the respective the mutual funds.

One may also choose to invest online through the websites of the respective mutual funds.

Further, one may invest with the help of / through a financial intermediary i.e., a Mutual Fund
Distributor registered with AMFI OR choose to invest directly i.e., without involving or routing
the investment through any distributor.

A Mutual Fund Distributor may be an individual or a non-individual entity, such as bank,

brokering house or on-line distribution channel provider.

Before investing in a mutual fund scheme, whether through online mode or via conventional
paper based mode, one must first complete the KYC process by filling up the prescribed KYC
form.

KYC stands for "Know Your Customer" and is a term used for Customer Identification Process
as a part of account opening process with any financial entity. KYC establishes an investor’s
identity & address through relevant supporting documents such as prescribed photo id. (e.g.,
Passport, Aadhaar or PAN card) and address proof. KYC compliance is mandatory under the
Prevention of Money Laundering Act, 2002 and Rules framed thereunder.

For detailed information about KYC, please visit the section on KYC & UBO
RESEARCH METHDOLOGY

In its most common sense, methodology is the study of research methods.

However, the term can also refer to the methods themselves or to the philosophical discussion of
associated background assumptions. A method is a structured procedure for bringing about a
certain goal. In the context of research, this goal is usually to discover new knowledge or to
verify pre-existing knowledge claims. This normally involves various steps, like choosing a
sample, collecting data from this sample, and interpreting this data. The study of methods
involves a detailed description and analysis of these processes. It includes evaluative aspects by
comparing different methods to assess their advantages and disadvantages relative to different
research goals and situations. This way, a methodology can help make the research process
efficient and reliable by guiding researchers on which method to employ at

each step. These descriptions and evaluations of methods often depend on philosophical
background assumptions. The assumptions are about issues like how the studied phenomena are
to be conceptualized, what constitutes evidence for or against them, and what the general goal of
research is. When understood in the widest sense, methodology also includes the discussion of
these more abstract issues.

The most discussed distinction among types of methodologies is between the quantitative and the
qualitative approach. Quantitative research is the main methodology of the natural sciences. It
uses precise numerical measurements, usually with the goal of finding universal laws that can be
utilized to make predictions about future events. Qualitative research is more characteristic of the
social sciences and gives less prominence to exact numerical measurements. It is often concerned
with human behavior and experienc
PRIMARY DATA

[Link] data is the kind of data that is collected directly from the data source without going

through any existing sources.

2. It is mostly collected specially for a research project and may be shared publicly to be used

for other research Primary data is often reliable, authentic, and objective in as much as it was

collected with the purpose of addressing a particular research problem.

3. It is noteworthy that primary data is not commonly collected because of the high cost of

implementation.

4. A common example of primary data is the data collected by organizations during market

research, product research, and competitive analysis.

SECONDARY DATA

1. Secondary data is the data that has been collected in the past by someone else but

made available for others to use. They are usually once primary data but become

secondary when used by a third party.

2. Secondary Data are usually easily accessible to researchers and individuals because

they are mostly shared publicly. This, however, means that the data are usually general

and not tailored specifically to meet the researcher's needs as primary data does

3. For example, when conducting a research thesis, researchers need to consult past

works done in this field and add findings to the literature review. Some other things like

definitions and theorems are secondary data that are added to the thesis to be properly

referenced and cited accordingly.

DATA INTRPRETATION AND ANYLISIS

A. Equity Funds:

1. Large cap - also known as big caps are shares that trade for corporations with a market
capitalization of $10 billion or more. Large-cap stocks tend to be less volatile during rough
markets as investors fly to quality and stability and become more risk-averse.

[Link]. Fund Fund 1 year 3 year Beta (%) Downside

manager return(%) return(%) risk(%)
1. Axis bluechip fund Shreyash D. 20.74 15.26 0.78 70.28
2. BNP Paribas Abhijeet D. 25.09 12.02 0.84 83.25
3. Nippon India Sailesh Raj 25.11 8.04 1.10 131.15

• Axis fund gave highest return in 3 year, but lowest in 1 year and its risk is also the lowest
of all.
• Nippon India gave highest return in 1 year, but lowest in 3 year, the risk is also high.

[Link] cap and Mid cap - These mutual funds select stocks for investment from the largest 250
stocks listed in the Indian markets (highest market capitalization). Larger stocks are expected to
be less risky whereas smaller stocks may have higher potential to grow .

[Link]. Fund Fund 1 year 3 year Beta (%) Downside

manager return(%) return(%) risk(%)

1. Invesco growth Pranav G. 23.51 10.52 0.93 86.94

2. Kotak equity Harsha U. 27.62 11.56 0.94 88.29
3. Sundaram S krishna 20.63 10.14 1.65 104.85

• Kotak gave highest return in both 1 and 3 year, with medium risk.
[Link] cap - A flex-cap fund allows investors to diversify their investment portfolio across
companies of different market capitalisation, mitigating risk and lowering volatility. They are
also referred to as diversified equity funds or multi-cap funds.

[Link] Fund Fund 1 year 3 year Beta Downside

manager return(%) return(%) (%) risk(%)

1. UTI flexi Ajay T. 35.13 16.77 0.97 80.63

2. DSP equity Atul B. 24.61 12.63 0.99 92.96

3. Kotak flexi Harsha U. 24.89 10.79 0.94 88.47

• UTI flexi gave highest return in both the years with lowest risk
B. Debt Funds:

[Link] and PSUs debt - Banking and PSU funds are debt funds that lend only to banks and
public sector companies. The high quality of borrowers allows these loans mean the risk of
default is very less. However, they do get affected if interest rates in the economy go up.

[Link] Fund Fund 1 year 3 year Standard

manager return(%) return(%) deviation(%)

1. Kotak banking & Deepak A. 7.42 8.92 2.42

PSU
2. IDFC banking & Anurag M. 8.21 9.43 2.48

PSU
3. Axis banking & Aditya P. 7.61 8.80 2.08

PSU
IDFC gave highest return in both the years.

2. Medium term debt - Medium term/duration funds are debt funds that lend to quality
companies for 3 or more years. The longer tenure of loan means these funds returns are subject
to the interest rate changes that borrowing companies undergo due to positive or negative
economic cycles over time.

[Link] Fund Fund manager 1 year 3 year Standard

return(%) return(%) deviation(%)

1. IDFC Bond Suyash Ch. 6.56 8.06 2.57

2. Axis Strategic Bond Devang S. 7.65 7.79 2.60
3. L&T resurgent India Shriram R. 6.31 6.95 3.32
• Axis gave high return in 1 year, IDFC gave high return in 3 year.
C. Hybrid Funds:

1. Aggressive Hybrid Funds - are balanced funds invest primarily in stocks with some allocation
to FD-like instruments. Spreading out of investments means these funds are less risky than pure
equity funds with almost similar returns in the long run.

[Link] Fund Fund Manager 1 year 3 year Beta Downside

return(%) return(%) (%) risk(%)

1. BNP Paribas [Link] 22.45 13.39 1.01 97.41

2. SBI Equity [Link] 18.96 11.11 1.08 119.32
3. DSP Equ & Vikram C. 20.58 11.23 1.20 126.75
bond
• BNP gave highest return in both the years, with the lowest risk.

[Link] Hybrid - Conservative Hybrid funds invest primarily in FD-like instruments with
some allocation to stocks. These funds look to provide more returns than bank fixed deposits
without taking too much risk.

[Link] Fund Fund 1 year 3 year Beta Downside

Manager return(%) return(%) (%) risk(%)

1. ICICI Pru Rajat Ch. 11.43 9.10 0.88 40.14

2. Franklin India S. Paudwal 7.34 6.68 1.18 140.65
3. DSP Reg Sav Vinit S. 9.18 4.08 1.47 238.58
• ICICI gave highest return in both the years, with the lowest risk.
CONCLUSTION

Mutual fund industry have developed itself very fastly in today’s times . Mutual fund industry in
India is maturing with increase in the number of investors and increasing geographical spread.
MF in India have become major players in the equity and corporate bond markets and are also
providing crucial liquidity support to the money market. Consequently, their influence on price
movements in equity and debt markets as also domestic liquidity conditions has increased over
time.

This research was made to understand the management of mutual funds, the schemes which
Asset management companies offers and analysing them from the given data.
 SUGGESTION

1 Financial goals. Defining different financial goals is most important aspect to prepare
an investment plan. ...

2 Risk Appetite. Risk refers to an adverse financial outcome against your expectations. ...

3Asset allocation.
bibliography

[Link]

magazine

book on mutual fund

 QUESTIONNAIRE

1. What is the rule of mutual fund?

Mutual funds carry annual expense ratios equal to a percentage of your investment, and a number
of other fees may be charged

2. What are mutual fund

What are mutual funds? A mutual fund is a company that pools money from many investors and
invests the money in securities such as stocks, bonds, and short-term debt

3. What are 3 types of funds?

There are three types of funds of the Central Government – Consolidated Fund of India (Article
266), Contingency Fund of India (Article 267) and Public Accounts of India (Article 266)
mentioned in the Indian Constitution.

4. What is type of fund?

A fund is a pool of money set aside for a specific purpose. The pool of money in a fund is often
invested and professionally managed in order to generate returns for its investors. Some common
types of funds include pension funds, insurance funds, foundations, and endowments.

5. Who is the father of mutual fund?

John Clifton "Jack" Bogle (May 8, 1929 – January 16, 2019) was an American investor, business
magnate, and philanthropist. He was the founder and chief executive of The Vanguard Group,
and is credited with popularizing the index fund