Summer Training Project Report On Client Acquisition: An Imperative Component of Wealth Management Process '

SUMMER TRAINING PROJECT REPORT
On
‘CLIENT ACQUISITION: AN IMPERATIVE COMPONENT OF
WEALTH MANAGEMENT PROCESS’
Submitted for the partial fulfillment towards the award of the degree
In
Master of Business Administration
Of
Dr. A.P.J. Abdul Kalam Technical University, Lucknow
By
Meghraj Singh
Roll no. 1706570027
B.S.A. College of Engineering & Technology, Mathura
At
NJ INDIA INVESTS PVT. LTD, FARIDABAD
1
PREFACE
As a part of the partial fulfillment of the MBA programme at B.S.A. College of

Engineering & Technology, Mathura, Summer Training done with the NJ INDIA
INVESTS PVT. LTD, FARIDABAD
In its broadest sense project report is necessary to make the students of business
school familiar with the industrial environment prevailing in the world. To be
competitive and work aggressive, students need to know the policies, procedures
and the trends going on in the present industrial world.
2
ACKNOWLEDGEMENT
At the onset I must bow down in reverence to the almighty that blessed us with the
understanding & prevalence that is needed in this kind of project report.
With great pleasure I express my heartiest thanks to Gorav Anami Khare, for giving
me an opportunity to work under their guidance in their esteem organization and
providing me necessary resources for my project. It makes and feels me proud to be
a part of NJ INDIA INVESTS PVT. LTD, FARIDABAD.
I also have the honor of drawing invaluable support of Pradeep Kumar Kesharvani
without whose unrelated support and guidance, this project would just not have been
possible. He/She provided me all necessary information regarding my project.
I would like to express my extreme gratitude to Mr. Gajendra Garg [HOD, MBA
Deptt.] and Gaurav Agrawal [Lecturer – MBA Department], for their inspiring and
supporting guidance during the course of this project. No words of appreciation are
good enough for the constant encouragement, which I have received from them.I
would like to thank all the staff and the members of NJ INDIA INVESTS PVT. LTD,
FARIDABAD.
At last I would like to extend my sincere thanks to all the respondents to whom I
visited for giving their support and valuable information, which helps me in
completing my project work.
Meghraj Singh
MBA II Yr – III Sem
Roll No. – 1706570027
Contents
3
Chapter Title of the Chapter Page No.
No.
1. Mutual fund Industry 6-22
1.1 Introduction
1.2 Industry profile
i. Evolution
ii. Concept
iii. Mutual fund structure
iv. Types
1.3 Players in the sector
2. NJ India Invest Pvt. Ltd 23-32

2.1 Introduction
2.2 Organization structure
2.3 Divisions
2.4 Philosophy
2.5 Financial Products And Distribution
network
3. Discussion and Analysis 33-55
3.1 Research Methodology

3.2 CLIENT ACQUISITION: AN
IMPERATIVE COMPONENT OF WEALTH
4
MANAGEMENT PROCESS
4. SWOT Analysis, Suggestions and Conclusion 56-60
4.1 SWOT Analysis
4.2 Findings and recommendation
4.3 Conclusion
5
CHAPTER: 1
MUTUAL FUNDS INDUSTRY
1.1 Introduction
Practical training imbibes an integral part of management studies. One cannot

merely depend upon the theoretical knowledge. It is to be coupled with practical
experience for it to be fruitful. Classroom lectures make the fundamental concept of
management clear and they also facilitate the learning of practical things. However
class lectures when correlated with practical training in the company has a
significant role to play in the subject in business management. To hone the
managerial and administrative skill in us -- future managers, it is imperative for us to
enhance our analytical skills, have a hands-on experience working in the industry
and inculcate flexible traits of an amiable team player. This is how we combine our
classroom learning with the knowledge of real business environment.
After liberalization Indian Economy Scene is really a buzz with activity. Lots
and lots of multinational companies are coming in with their technical expertise and
proven management concepts. Industrial activity in Indian has become a thing to
watch and I really wanted to be a part of it and it was essential for me being a
management student. I consider myself lucky to have got my summer internship
project in the Indian Mutual Fund Industry. It helped me to get a practical insight into
the actual business environment.
It is difficult to elaborate everything, which I learned during the survey
however, I have endeavored to incorporate a comprehensive picture of the details
about my working and the subsequent findings and suggestions in the following
pages. I have accumulated the desired information through personal observations,
study of documents and discussions. A Mutual Fund is a trust that pools the savings
of a number of investors who shares a common financial goal. The money is
invested by the fund manager in different types of securities depending upon the
objectives of the schemes.
6
Mutual Fund plays a very vital role in the growth and development of the investment
industry. Mutual Fund is the right product in which investors invest their money
securely and get more benefits as compare o other investments.
Basic aim of the project is to understand Mutual Fund as an Investment Avenue. The
Methodology used was collection using Questionnaire, financial reports of company.
The target customers were salaried, professionals and business class people. The
area of survey was restricted to people residing in Ambala.
1.2 Industry Profile
A mutual fund is a type of professionally managed collective investment vehicle that

pools money from many investors to purchase securities. A common pool of money
into which investor put their contribution. This money is to be invested according to
the pre-stated objectives of the fund. Ownership of the fund is joint or mutual
amongst all investors -equivalent to the contribution made as a proportion of the
overall fund Ownership through holding of units at NAV
I. Evolution of Mutual Fund Industry in India
The mutual fund industry in India started in 1963 with the formation of Unit Trust of
India, at the initiative of the Reserve Bank of Government of India. The objective
then was to attract the small investors and introduce them to market investments.
Since then, the history of mutual funds in India can be broadly divided into six
distinct phases.
 Phase 1- 1964-87: Growth of Unit Trust of India:
In 1963, UTI was established by an Act of Parliament. As it was the only entity
offering mutual funds in India, it was a monopoly. Operationally, UTI was set up by
the Reserve Bank India, but was later de-linked from the RBI. The first scheme, and
for long one of the largest, launched by UTI was Unit Scheme 1964. Over the years,
US-64 attracted the largest number of investors in any single investment scheme. It
was also at least partially the first open-end scheme in the country.
Later in 1970s and 80s, UTI started innovating and offering different schemes
to suit the needs of different classes of investors. Unit Linked Insurance Plan (ULIP)
was launched n 1971. Six new schemes were introduced between 1981 and 1984.
7
During 1984-87, new schemes such as Children Gift Growth fund (1986) and
Mastershare (1987) were launched. Mastershare could be termed as the first
diversified equity investment scheme in India. The first Indian offshore fund, India
fund, was launched in August 1986. During 1990s, UTI catered to the demand for
income-oriented schemes by launching Monthly Income Schemes, a somewhat
unusual mutual fund product offering ―assured returns‖. In absolute terms, the
investible funds corpus of UTI was about Rs. 600cr in 1984, by 1987-88, assets
under management of UTI had grown ten times of Rs. 6,700 cr.
 Phase 2-1987-1993: Entry of Public Sector Funds:
1987 marked the entry of other public sector mutual funds. With the opening up of
the economy, many public sector banks and financial institutions were allowed to
establish mutual funds. State Bank of India established the first non-UTI mutual
fund- SBI Mutual Fund – in November 1987. This was followed by Canbank Mutual
Fund, LIC Mutual Fund. These funds helped in enlarging the investor community
and the investible funds. From 1987-88 to 1992-93, the assets under management
increased from Rs. 6,700 cr. To Rs. 47,004 cr., nearly seven times.
Table 1.1
1992-93
Amount Mobilized Assets Under Mobilization as % of
(Rs.cr) Management Gross Domestic
(Rs.cr) Savings
UTI 11,507 38,247 5.2%
Public Sector 1,964 8,757 0.9%
Total 13,021 47,004 6.1%
During this period, investors showed a marked interest in mutual funds, allocating a
larger part of their savings to investments in the funds (5.2% n 1992, 3.1% in 1988).
UTI was still the largest segment of the industry, with about 80% market share.
 Phase 3 – 1993-1996: Emergence of Private Funds:
8
A new era in the mutual fund industry began in 1993 with the permission granted for
the entry of private sector funds. This gave the Indian investors a broader choice of
‗fund families‘ and increasing competition to the existing public sector funds. Quite
significantly, foreign management companies were also allowed to operate mutual
funds, most of them coming into India through their joint ventures with Indian
promoters. These private funds have brought in with them the latest produce
innovations, investment management techniques and investor-servicing technology
that make the Indian mutual fund industry today a vibrant and growing financial
intermediary.
During the year 1993-94, five private sector mutual funds launched their schemes
followed by six others in 1994-95. Initially, mobilization of funds by the private mutual
funds was slow. But, this segment of the fund industry began to witness much
greater investor of several fund houses. Investors in India now clearly saw the
benefits of investing through mutual funds and became discerning and selective.
 Phase 4 – 1996-99: Growth and SEBI Regulation:
Since 1996, the mutual fund industry in India saw tighter regulation and higher
growth. It scaled new heights in terms of mobilization of funds and number of
players. Deregulation and liberalization of the Indian economy had introduced
competition and provided impetus to the growth of the industry. Finally, most
investors, - small or large – started showing interest in mutual funds.
Measures were taken both by SEBI to protect the investor, and by the Government
of enhance investors‘ returns through tax benefits. A comprehensive set of
regulations for all mutual funds operating in India was introduced with SEBI (Mutual
Fund) Regulations, 1996. These regulations set uniform standards for all funds. The
erstwhile UTI voluntarily adopted SEBI guidelines for its new schemes. Similarly the
budget of Union Government in 199 took a big step in exempting al mutual fund
dividends from income tax in the hands of investors. Both 1996 regulations and the
1999 Budget must be considered of historic importance, given their far-reaching
impact on the fund industry.
 Phase 5 – 1999 – 2004: Emergence of a large and uniform industry:
9
The other major development in the fund industry has been the creation of a level
playing field for all mutual funds operating in India. This happened in February 2003,
when the UTI Act was repealed. Unit Trust of India no longer has a special legal
status as a trust established by an Act of Parliament. Instead, it has also adopted the
same structure as any other fund in India – a Trust and an Asset Management
Company. UTI Mutual Fund is the present name of the erstwhile Unit Trust of India.
All SEBI complaint schemes of the erstwhile UTI are under its charge. All new
schemes offered by UTI Mutual Fund are SEBI approved. Other schemes (US 64,
Assured Return Schemes) of erstwhile UTI have been placed with a special
undertaking administered by the Government of India. These schemes are being
gradually wound up. Consider the data below:
Table 1.2
GROSS FUND MOBILISTION (RS.cr)
FROM TO UTI PUBLIC PRIVATE TOTAL
SECTOR SECTOR
01-April-98 31-March-99 11,679 1,732 7,966 21,377
01-April-99 31-March-00 13,536 4,039 42,173 59,748
01-April-00 31-March-01 12,413 6,192 74,352 92,957
01-April-01 31-March-02 4,643 13,613 1,46,257 1,64,523
01-April-02 31-Jan-03 5,505 22,923 2,20,551 2,48,979
01-Feb-03 31-March-03 * 7,259* 58,435 65,694
01-April-03 31-March-04 68,558 5,21,632 5,90,190
01-April-04 31-March-05 1,03,246 7,36,416 8,39,662
01-April-05 31-March-06 1,83,446 9,14,712 10,98,158
10
Table 1.3
ASSETS UNDER MANAGEMENT (RS.cr)
AS ON UTI PUBLIC PRIVATE TOTAL
SECTOR SECTOR
31-March-99 53,320 8,292 6,860 68,472
31-March-00 76,547 11,412 25,046 113,005
31-March-01 58,017 6,840 25,730 90,587
31-March-02 51,434 8,204 40,956 100,594
31-Jan-03 44,541 12,228 65,036 121,805
31-March-03 * 23,942* 55,522 79,464*
31-March-04 34,642 1,04,992 1,39,616
31-March-05 32,113 1,17,441 1,49,554
31-March-06 50,348 1,81,514 2,31,862
*UTI was re-organized into two parts: one, the specified Undertaking; two, The UTI
Mutual Fund. In the above tables, UTI Mutual Fund‘s data is included under ―public
sector.‖
Between 1999 and 2005, the size of the industry has doubled in terms of assets
under management which have gone from about Rs. 68,000cr to over Rs.
150,000cr. Within the growing industry, the relative market shares of different
players in terms of amount mobilized and assets under management have also
undergone changes. The other major development in the fund industry has been the
creation of a level playing field for all mutual funds operating in India.
UTI Mutual fund is also now fully governed by SEBI with the same regulations
as for all regulations make it easier for the distributors and investors to deal with any
fund house in India. UTI Mutual Fund is still the largest player in the Indian fund
industry. All SEBI compliant schemes of the erstwhile UTI are under its charge.
Other schemes (US 64, Assured Return Schemes) of erstwhile UTI have been
placed with a special undertaking administered by the government of India.
11
 Phase 6 – From 2004 onwards: Consolidation and Growth
The industry had lately witnessed a spate of mergers and acquisitions, most recent
ones being the acquisition of schemes of Alliance Mutual Fund by Birla Sun Life,
Sun F&C Mutual fund by Principal and PNB Mutual fund by Principal. At the same
time more international players continue to enter India, including Fidelity, one of the
largest funds in the world. The stage is set now for growth through consolidation and
entry of new international and private sector players. As at the end of JUNE 2012,
there were 44 fund players.
II. Concept of Mutual Fund
A Mutual Fund is a trust that pools the savings of a number of investors who share a
common financial goal. The money thus collected is invested by the fund manager in
different types of securities depending upon the objective of the scheme. These
could range from shares to debentures to money market instruments. The income
12
earned through these investments and the capital appreciations realized by the
scheme are shared by its unit holders in proportion to the number of units owned by
them (pro rata). Thus a Mutual Fund is the most suitable investment for the common
man as it offers an opportunity to invest in a diversified, professionally managed
portfolio at a relatively low cost. Anybody with an inventible surplus of as little as a
few thousand rupees can invest in Mutual Funds. Each Mutual Fund scheme has a
defined investment objective and strategy
A Mutual fund is the ideal investment vehicle for today‘s complex and modern
financial scenario. Markets for equity shares, bonds and other fixed income
instruments, real estate, derivatives and other assets have become mature and
information driven. Price changes in these assets are driven by global events
occurring in faraway places. A typical individual is unlikely to have the knowledge,
skills, inclination and time to keep track of events, understand their implications and
act speedily. An individual also finds it difficult to keep track of ownership of his
assets, investments, brokerage dues and bank transactions etc.
A draft offer document is to be prepared at the time of launching the fund.
Typically, it pre specifies the investment objectives of the fund, the risk associated,
the costs involved in the process and the broad rules for entry into and exit from the
fund and other areas of operation. In India, as in most countries, these sponsors
need approval from a regulator, SEBI (Securities exchange Board of India) in our
case. SEBI looks at track records of the sponsor and its financial strength in granting
approval to the fund for commencing operations. A sponsor then hires an asset
management company to invest the funds according to the investment objective. It
also hires another entity to be the custodian of the assets of the fund and perhaps a
third one to handle registry work for the unit holders (subscribers) of the fund. In the
Indian context the sponsors promote the Asset Management Company also, in
which it holds a majority stake. In many cases a sponsor can hold a 100% stake in
the Asset Management Company (AMC). E.g. Birla Global Finance is the sponsor of
the Birla Sun Life Asset Management Company Ltd., which has floated different
mutual funds schemes and also acts as an asset manager for the funds collected
under the schemes.
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Characteristics:
 A mutual fund actually belongs to the investors who have pooled their funds.
 A mutual fund is managed by investment professionals and other service
providers, who earn a fee for their services, from the fund.
 The pool of funds is invested in a portfolio of marketable investments. The
value of the portfolio is updated every day.
 The investor‘s share in the fund is denominated by ‗units‘. The value of the
units changes with change in the portfolio‘s value, every day. The value of
one unit of investment is called the Net Asset Value or NAV.
III. Mutual Fund structure
The structure of mutual funds in India is governed by the SEBI Regulations, 1996.
These regulations make it mandatory for mutual funds to have a 3-tier structure of
Sponsors-Trustee-AMC (Asset Management Company).
Sponsor
Sponsor is the person who acting alone or in combination with another body
corporate establishes a mutual fund. Sponsor must contribute at least 40% of the net
worth of the Investment Managed and meet the eligibility criteria prescribed under
the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
14
Trust
The Mutual Fund is constituted as a trust in accordance with the provisions of the
Indian Trusts Act, 1882 by the Sponsor. The trust deed is registered under the
Indian Registration Act, 1908.
Trustee
Trustee is usually a company (corporate body) or a Board of Trustees (body of
individuals). The main responsibility of the Trustee is to safeguard the interest of the
unit holders and inter-alia ensure that the AMC functions in the interest of investors
and in accordance with the Securities and Exchange Board of India (Mutual Funds)
Regulations, 1996, the provisions of the Trust Deed and the Offer Documents of the
respective Schemes. At least 2/3rd directors of the Trustee are independent
directors who are not associated with the Sponsor in any manner.
Asset Management Company (AMC)
The AMC is appointed by the Trustee as the Investment Manager of the Mutual
Fund. The AMC is required to be approved by the Securities and Exchange Board of
India (SEBI) to act as an asset management company of the Mutual Fund. At least
50% of the directors of the AMC are independent directors who are not associated
with the Sponsor in any manner. The AMC must have a net worth of at least 10cr at
all times.
Registrar and Transfer Agent
The AMC if so authorized by the Trust Deed appoints the Registrar and Transfer
Agent to the Mutual Fund. The Registrar processes the application form, redemption
requests and dispatches account statements to the unit holders.
Custodian
A custodian handles the investment back office of a mutual fund. Its responsibilities
include receipt and delivery of securities, collection of income, distribution of
dividends, and segregation of assets between schemes. The sponsor of a mutual
fund cannot act as a custodian to the fund. For example, Deutsche Bank is a
custodian, but it cannot service Deutsche Mutual Fund, its mutual fund arm.
Fee Structure
15
Custodian charges range between 0.15% -0.20% on the net value of the customer‘s
holding for custodian services space is one important factor which has fixed cost
elements.
Responsibility of custodians: -
1. Receipt and delivery of securities
2. Holding of securities.
3. Collecting income
4. Holding and processing cost
5. Corporate actions etc.
Rate of return on mutual funds:-
An investor in mutual fund earns return from two sources:
1. Income from dividend paid by the mutual fund.
2. Capital gains arising out of selling the units at a price higher than the acquisition
price.
Formation and regulations:
1. Mutual funds are to be established in the form of trusts under the Indian
trusts act are to be operated by separate asset management companies
(AMC s)
2. AMC‘s shall have a minimum Net worth of Rs. 5cr;
3. AMC‘s and Trustees of Mutual Funds are to be two separate legal entities
4. AMC or its affiliate cannot act as a manager in any other fund; mutual funds
dealing exclusively with money market instruments are to be regulated by
the Reserve Bank Of India, mutual fund dealing primarily in the capital
market and also partly money market instruments are to be regulated by the
Securities Exchange Board Of India (SEBI)
5. All schemes floated by Mutual funds are to be registered with SEBI
Depository
Indian capital markets are moving away from having physical certificates for
securities, to ownership of these securities in ‗dematerialized‘ form with a
Depository.
16
MUTUAL FUND OPERATION
IV. Types of Mutual fund
There are many types of ‗schemes‘ of mutual funds available to the Indian investor.
However, these different types of schemes can be grouped into certain classification
for better understanding. From the investors‘ perspective, we would follow three
basic classifications.
Firstly, schemes are usually classified in accordance with their structure – as closed-
end or open-end. Schemes can also be grouped in terms of whether the fund collect
from investors any charges at the time of entry or exit or both Schemes are also be
classified as being tax-exempt or non-tax-exempt.
Under each broad classification, we may them distinguish between several types of
funds (schemes) on the basis of the composition of their portfolios.
 Open-end Vs. Closed-end Funds:
An open-end fund is one that sells and repurchases units at all times. When the fund
sells units, the investor buys them from the fund. When the investor redeems the
units, the fund repurchases the units from the investor. An investor can buy units or
redeem units from the fund itself at a price based on the net asset value (NAV) per
unit.
Closed-end fund is fixed, as it makes a one-time sale of a fixed number of units.
After the offer closes, closed-end funds of not allow investors to buy or redeem units
directly from the funds. However, to provide the much-needed liquidity to investors,
closed-end funds a list on a stock exchange.
17
 Load and No-load Funds:
Marketing of a new mutual fund scheme involves initial expenses. These expenses
may be recovered from the investors in different ways at different times. Three
useful ways in which a fund‘s marketing expenses may be recovered from the
investors are:
1. At the time of investor‘s entry into the fund/scheme by deducting a specific
amount from his contribution.
2. By charging the fund/scheme with a fixed amount each year, during a
specified number of years.
3. At the time of investor‘s exit from the fund/scheme with a fixed amount each
year, during a specified amount from the redemption proceeds payable to the
investor.
 Tax-exempt vs. Non-Tax-exempt Funds:
Generally, when a fund invests in tax-exempt securities, it is called a tax-exempt

fund. In the U.S.A., for example, municipal bonds pay interest that is tax-free. After
the 1999 Union Government Budget, all of the dividend income received from any of
the mutual funds is tax-free in the hands of the distributing income to investors
 Money Market/Liquid Funds:
Liquid Funds are often considered to be the lowest rung in the order of risk level.
Liquid funds invest in debt securities of a short-term nature, which generally means
securities of less than one-year maturity.
 Gilt Funds:
Gilts are government securities with medium to long-term maturities, typically of over
one year (under one-year instruments being money market securities). In India, we
have Government Securities or Gilt Funds that invest in government paper called
dated securities (unlike Treasury Bills that mature in less than one year).
 Debt Funds (or Income Funds):
18
Next in the order of risk level, we have the general category Debt Funds. Debt funds
invest in debt instruments issued not only by governments, but also by private
companies, banks and financial institutions and other entities such as infrastructure
companies/utilities.
 Equity Funds:
As investors move from Debt Fund category to Equity Funds, they face increased
risk. However, there is a large variety of Equity Funds each with a slightly different
risk profile. Investors and their advisors need to sort out and select the right equity
fund that suits their risk appetite. In the following section, we have presented the
types of Equity Funds going from the highest risk level to the lowest level within this
category.
 Sector Funds:
Sector funds‘ portfolios consist of investments in only one industry or sector of the
market such as Information Technology, Pharmaceuticals or Fast Moving Consumer
Goods. Since sector and company specify risk than diversified equity funds.
 Mid-Cap or Small-Cap Equity Funds:
These funds invest in shares f companies with relatively lower market capitalization
that that of big, blue chip companies. They may thus be more volatile than other
funds, as mid-size or smaller companies‘ shares are not very liquid in the markets.
We can think of these funds as a segment of specialty funds. In terms of risk
characteristics, small company funds may be aggressive-growth or just growth type.
In terms of investment style some of these funds may also be ―vale investors‖.
 Balanced Funds:
A balanced fund is one that has a portfolio comprising debt instruments, convertible
securities, and preference and equity shares. Their assets are generally held in
more or less equal proportions between debt/money market securities and equities.
By investing in a mix of this nature, balanced funds seek to attain the objectives of
19
income moderate capital appreciation and preservation of capital, and are ideal for
investors with a conserve
ative and long-term orientation.
 Fund of Funds:
A Fund of Funds invests in other mutual funds. Just as a normal mutual fund invest
in a portfolio of securities such as debt or equity, a fund of funds invests in a portfolio
of the units of t\other mutual fund schemes. Availability of a fund of funds to an
investor helps him select the right funds from a wide variety of schemes, offered by
different asset management companies.
It also helps the investor diversify his risk not only in terms of the types of
securities held in the portfolio but also in terms of schemes of different fund
managers and investment styles. For example, a fund of funds can invest in top
performing equity funds of different AMCs and offer the most widely diversified
portfolio to the investor. It can also invest in equity and income schemes of other
AMCs simultaneously offering the investor balanced or diversified portfolios across
asset classes.
1.3 PLAYERS IN THE SECTOR
NJ INDIA INVEST is the leading company dealing in the Mutual Funds. Following
are the competitors of NJ:-
 Karvy:
The Karvy Group was formed in 1983 in Hyderabad, India. Karvy ranks among
the top players in almost all the fields it operates. Karvy Computershare limited is
India‘s largest registrar and transfer agents with a client base of nearly 500 blue
chips corporate, managing over 2cr accounts.Karvy Stock Brokers Limited,
member of National Stock Exchange of India and Bombay Stock Exchange ranks
among the top 5 stock brokers of India.
 AnandRathi:
20
AnandRathi is a leading full service securities firm providing the entire gamut
of financial services. The firm, founded in 1994 by Mr. AnandRathi, today has
a pan India presence as well as an international presence through offices in
Dubai and Bangkok.AnandRathi provides a breadth of financial and advisory
services including wealth management, investment banking, corporate
advisory, brokerage & distribution of equities, commodities, mutual funds and
insurance
 India Infoline:
India Infoline (IIL) is engaged in business of equities broking, wealth advisory
services and portfolio management services. The company was incorporated
in October 1995 as Probity Research & Services and later in April 2000 the
name was changed to India Infoline.com. Then in March 2001 the company
again changed its name to India Infoline. The company is part of India Infoline
Group. It has pan- India presence through its distribution network of 607
branches, 151 franchisees located in 346 cities. The company also has
presence in Dubai, New York and Singapore.
 Edelweiss:
Edelweissis one of India's leading Financial Services Groups, with operations
that span more than forty different lines of business and subsidiaries. Our
operations straddle the entire spectrum of financial services in the wholesale
and retail market segments including Asset Management, Capital Markets,
Credit, Housing Finance and Insurance services. With a net worth of over INR
28bn, Edelweiss is adequately capitalized to exploit the opportunities
emerging from this robust economic growth. Edelweiss employs over 2900
professionals across 297 offices and branches spread across 144 cities of
India.
 Trustline:
Trustline made a humble beginning in 1989 as a proprietary stock broking
company and recently got converted into a public limited company in the
name of Trustline securities limited. With the advent of newer exchanges
21
coming into play in the financial market of India, Trustline groups‘ foray into
the commodity, currency, and depository was but natural. Today Trustline
group is into all major areas of financial services.
 India Bulls:
In middle of 1999, when e-commerce was just about starting in India, Sameer
Gehlaut and his close IIT Delhi friend Rajiv Rattan got together and bought a
defunct securities company with a NSE membership and started offering
brokerage services. A Few months later, their friend Saurabh Mittal also
joined them. By December 1999, the company embarked on its journey to
build one of the first online platforms in India for offering internet brokerage
services. In January 2000, the 3 founders incorporated India bulls Financial
Services and made it as the flagship company.
 UTI Mutual Funds:
January 14, 2003 is when UTI Mutual Fund started to pave its path following
the vision of UTI Asset Management Co. Ltd. (UTIAMC), which was
appointed by UTI Trustee Co, Pvt. Ltd. for managing the schemes of UTI
Mutual Fund and the schemes transferred/migrated from the erstwhile Unit
Trust of India.
 DWS Investment:
DWS Investments is the mutual fund arm of Deutsche Asset Management,

with more than EUR 139 bn.1 the largest mutual fund company in its home
country, Germany; with EUR 193 bn. Aum number four of the leading retail
mutual fund companies across Europe2 and with EUR 270 bn. within the top
10 globally3.
Founded in 1956, DWS‘s activities span beyond Europe.
 PRUDENT:
The Prudent Insurance Brokers team is the key driving force of the company.
We are driven by intense professional pride to excel and deliver. Our team
comprises of over 160 professionals from diverse backgrounds, bringing with
them rich experience to understand better our clients‘ businesses and risks.
22
 Bajaj capital
The Bajaj Capital Group is one of India‘s leading Investment Advisory and
Financial Planning companies. Bajaj Capital is also SEBI-approved Category I
Merchant Bankers. Bajaj Capital offers personalized investment Advisory and
Financial Planning services to individual investors, corporate houses, institutional
investors, Non-Residents Indians (NRIs) and High Net worth Clients, among
others.
 BONANZA- Bonanza is a leading Financial Services & Brokerage House. It

also distributes mutual funds of various AMCs.
CHAPTER 2
NJ INDIA INVEST
2.1 Introduction
NJ INDIAINVEST Pvt. Ltd. is one of the leading advisors and distributors of financial
products and services in India. Established in year 1994, NJ has over a decade of
rich exposure in financial investments space and portfolio advisory services. From a
humble beginning, NJ, over the years has evolved out to be a professionally
managed, quality conscious and customer focused financial / investment advisory &
distribution firm. We are headquartered in Surat, India, and have more than INR
10,000cr.plus of mutual fund assets under advice, with a wide presence at over 104
locations in 21 states in India. The numbers are reflections of the trust, commitment
and value that NJ shares with 11 Lac plus customer base with over 14000+
Advisors.
NJ prides in being a professionally managed, quality focused and customer
centric organization. The strength of NJ lies in the strong domain knowledge in
23
investment consultancy and the delivery of sustainable value to clients with support
from cutting-edge technology platform, developed in-house by NJ.
At NJ, we believe in.
 Having single window, multiple solutions that are integrated for simplicity and
sapience
 Making innovations, accessions, value-additions, a constant process
 Providing customers with solutions for tomorrow which will keep them above
the curve, today
Technology has traditionally been NJ's key strength. Our offering on the
technological front is unmatched, vibrant, and comprehensive in nature. Our focus &
commitment on technology can be gauged from the fact that we have set-up distinct
entity with a very strong, talented work-force for the sole purpose of providing the
best to NJ in terms of technology and support. Finlogic Technologies (India) Pvt. Ltd.
does all the development & support work in-house on a continuous basis. It has
successfully developed & implemented a powerful support system for the mutual
fund distribution business at NJ with a provision for integrating the same with other
investment products as well as the financial accounting system. Today Finlogic
Technologies has more than 100 employees for its IT development.
2.2 Organization structure

The management at NJ brings together a team of people with wide experience and
knowledge in the financial service domain. The management provides direction and
guidance to the whole organization. The management has strong visions for NJ as a
globally respected company providing comprehensive services in financial sector.
The aim of the management is to bring the best to the customers in terms of
 Range of products and services offered
 Quality Customer Service
All the key members of the organization put in great focus on the processes &
systems under the diverse functions of business. The management also focuses on
utilizing technology as the key enabler for all the activities and to leverage the
technology for enhancing overall customer experience.
24
A. Management Team
Mr. Neeraj Choksi & Mr. Jignesh Desai (R) are two first generation entrepreneurs
who began the journey of 'NJ' in 1994. The promoters of the NJ Group were friends
since their college years and the bond between Mr. Neeraj & Mr. Jignesh has been
instrumental in the success of NJ.
 Sales and product team
Table no. 2.1
Mr. Misbah baxamusa National sales head

Mr. Huasian kanchwala Product head for investment
Mr. Jigesh desai Product head for real estate
 Functional team
Table no. 2.2
Mr. Abhishek dulbey Head of strategic business

development
Col.CM dixit Head of administration function
Mr. Dhawal desai Head of human resources function
Mr. Janak patel Head of audit function
Mr. Jagnesh bhatt Head of IT
Mr. Rakesh tokarka Head of compliance function
Mr. shirish patel Head of technology
Mr. Vinayak rajput Head of operations function
2.3 Our Divisions
A. NJ Fundz Network :- NJ Fundz Network has been playing a pioneering role in

India in providing independent advisors/advisory firms with integrated
25
Comprehensive and practical business solutions for ensuring continuous
growth & continuity of business. It provides the financial advisors and the
institutions that serve them with insights, strategies and tools to help them
significantly grow their businesses. How do we do it? That‘s because we
understand how financial & wealth management businesses work and what is
needed to manage, monitor and grow the practice...
With the 360° Advisory platform, NJ has managed to successfully transform the
business of many advisory / distribution houses, bringing them on equal footing or
even better than the toughest competitors in the industry in the concerned domain.
With a vast experience & strong delivery mechanism, we at NJ Fundz Network, help
& ensure transformation and the exploitation of the opportunities available.
First in the Indian Mutual Fund Industry to offer a Complete Business Platform to
Advisors
With this philosophy, we try to offer all possible products, services and support which
an Advisor would need in his business.
The support functions are generally in the following areas:
 Business Planning and Strategy
 Training and Development – Self and of employees
 Products and Service Offerings
 Business Branding
 Marketing
 Sales and Development
 Technology
 Advisors Resources - Tools, Calculators, etc.
26
 Research
 Communications
With this comprehensive supporting platform, the NJ Funds Partners stays ahead of
the curve in each respect compared to other Advisors/competitors in the market.
B. NJ Realty Services
This is an integrated service model offering solutions for meeting the diverse real-
estate needs of Corporate & retail customers in transacting properties.
Finding the right property at the right value and the best buyer for a property is the
crux of any realty solution. The scope of properties embraces both commercial &
residential projects / properties. The integrated value-added services ensure that the
solutions are feasible, authentic, secure & profitable.
Today NJ Realty Services has tied up with over 40 developers with over 150
projects across India.
2.4 Philosophy
At NJ our Service and Investing philosophy inspire and shape the thoughts, beliefs,
attitude, actions and decisions of our employees. If NJ would resemble a body, our
philosophy would be our spirit which drives our body.
A. Service Philosophy:
Our primary measure of success is customer satisfaction.
We are committed to provide our customers with continuous, long-term
improvements and value-additions to meet the needs in an exceptional way. In our
efforts to consistently deliver the best service possible to our customers, all
employees of NJ will make every effort to:
 Think of the customer first, take responsibility, and make prompt service to
the customer a priority
 Deliver upon the commitments & promises made on time
 Anticipate, visualize, understand, meet, exceed our customer‘s needs
 Bring energy, passion & excellence in everything we do
27
 Be honest and ethical, in action & attitude, and keep the customer‘s interest
supreme
 strengthen customer relationships by providing service in a thoughtful &
proactive manner and meet the expectations, effectively
B. Investing Philosophy:
We aim to provide Need-based solutions for long-term wealth creation
We aim to provide all customers of NJ, directly or indirectly, with true, unbiased,
need-based solutions and advices that best meets their stated & un-stated needs. In
our efforts to provide quality financial & investment advice, we believe that
 Clients want need-based solutions, which fits them
 Long-term wealth creation is simple and straight
 Asset-Allocation is the ideal & the best way for long-term wealth creation
 Educating and disclosing all the important facets which the customer needs to
be aware of, is important
 The solutions must be unbiased, feasible, practical, executable, measurable
and flexible
 Constant monitoring and proper after-sales service is critical to complete the
on-going process.
2.5 NJ Wealth – Financial Products Distributors Network
NJ Wealth - Financial Products Distributor Network is one of India's leading and

most successful networks of distributors in the financial services industry. Started in
2003, the NJ Wealth seeks to reach out to the common man and extend the
opportunity to create wealth through an empowered network of financial product
distributors – the NJ Wealth Partners. The NJ Wealth family has grown steadily and
today it has over 16,000 NJ Wealth Partners, spread across 98 branches in 19
states in India with over 12 lac investors and over INR 12,000 crores of mutual fund
28
assets under advice. Irrespective of the numbers though, it is trust in us which fuels
the passion for creating solutions with excellence that touch many lives, day after
day.
The key offerings of the NJ Wealth Distributor platform are briefly mentioned here.
 Product basket
 Domestic mutual funds (all AMCs)

 Capital Markets - direct equity and ETFs
 Fixed Deposits of companies
 PMS products (Third party & NJ)
 Government/ RBI/ Infrastructure bonds
 Residential & commercial properties
 Partner Services
 Dedicated Relationship Manager

 Marketing & Sales support
 Research support
 Training & Education support
 Dedicated Customer Care / Query management support
 Technological support, including online business / 'Partners Desk' with CRM
& Employee Management modules
1) Asset Management
NJ has ventured in asset management business with NJ Advisory Services Pvt. Ltd.,
a group company, launching its discretionary PMS products. At the heart of NJ
29
Advisory Services is the idea to provide customers with solutions that give them the
freedom from active management of investments while having an assurance that we
would be doing so in the best possible manner. The PMS products currently offered
are aimed at meeting investor's need for successful long-term wealth creation by
following strategies that control risk and optimize returns in a mutual fund portfolio.
NJ Advisory Services leverages upon with its rich experience in portfolio
management with in-depth knowledge & expertise in mutual funds. The decisions on
the mutual fund portfolio also combine results of time tested proprietary research
models, extensive due-diligence of fund houses, interactions with fund managers &
internal risk controls.
Products:
 Freedom Portfolio:
Objective: To stay invested in equity mutual fund schemes at all times, deliver
superior portfolio returns by selecting better performing schemes and
encashing on opportunities offered by markets.
 Dynamic Asset Allocation Portfolio
Objective: To give better risk adjusted returns by deciding right proportion of
Equity and Debt asset classes from time to time, and selecting consistently
better performing mutual fund schemes.
Key customer services:
 Online Client PMS Desk with daily update reports

 Reporting on monthly, quarterly & annual basis through email and hard
copies
30
2) Real Estate
The NJ Realty venture offers an integrated service model offering end-to-end

services to various stake-holders in realty program management & execution. The
idea is to associate with stakeholders and engage actively in various stages of
program management, viz. market survey, and legal due diligence, land acquisition,
planning & execution of projects and managing sales & distribution through NJ
Wealth Advisors Network.
3) Insurance Broking
NJ Insurance Brokers Pvt. Ltd., a licensed insurance broker by IRDA, seeks to

provide customers with comprehensive solutions catering to their insurance needs.
At the heart of NJ Insurance is the strong vision for continued financial well-being for
customers - individuals and families, regardless of any circumstances. The key is to
offer 'right' advice which is unbiased and customer centric and encompasses the
right risk to insure, the right coverage, the right product and at the right time. NJ
Insurance leverages from the rich experience of NJ group in financial planning and
investment management for customers. NJ Insurance Brokers has appointed
Certified Insurance Advisors (CIAs) who work with customers in identifying, fulfilling
& managing their insurance needs. NJ offers a comprehensive basket of products
both in life & non-life insurance space and makes exhaustive use of technology to
deliver great value to customers.
31
Product basket:
 Life insurance products from leading life insurers

 General insurance products, especially Health, Motor & Personal Accident,
from leading general insurers
4) Global Wealth Advisory
NJ Global Invest (Ltd.) is a new venture wherein NJ seeks to offer a Global Wealth
Advisory platform to advisors for offshore funds across the globe. The vision at
Global Wealth Advisory platform is to offer a single window for investment
opportunities across the globe to customers. The idea is to bring to customers a
wide range of offshore fund schemes (domiciled in Mauritius, Luxembourg, Dublin
and other jurisdictions), through advisors on the Global Wealth Advisory platform. NJ
Global Invest seeks to provide an offshore fund distribution platform & offshore
Portfolio Advisory services under a B2B distribution model.
5) Information Technology
NJ Technologies is a latest venture by NJ wherein we aim to provide quality

technology solutions to businesses in a wide range of domains. NJ started its
journey in technology with the start of Fin logic Technologies (India) Pvt. Ltd., a
group company, in year 2000. The idea then was to develop software applications to
support the growing (financial services) distribution business and manage the IT
32
infrastructure. Over the years, the captive IT team, gained strong domain expertise
and skills in diverse areas and technology domains. Today, Finlogic team boasts of
over 250 employees with skills & rich experience in product development, software
testing, infrastructure management, R&D, project management & information
security.
6) Training & Development
The NJ Gurukul is a venture aimed at providing valuable training & education

support to the young, emerging talent pool in India. Started in year 2007, NJ Gurukul
today offers a very wide range of training programs across India in all major cities.
NJ Gurukul is about a vision that aspires to nurture the young talent in India and to
transform them into individuals with knowledge & skills for employment and
enterprise. With special focus on the financial advisors community. NJ Gurukul has
an institutionalised, process driven approach to training with focus on delivering
uniformity in quality & content. The NJ Gurukul has a Board of Trainers with over 35
well qualified, professional trainers empanelled across India for delivering training
programs. Within a short time, NJ Gurukul has trained over 30,000 participants in
over 50 locations across India. NJ Gurukul is an authorised Education Provider (EP)
with FPSB India to deliver training for the prestigious Certified Financial Planner -
CFPCM Certification. NJ Gurukul is also amongst the largest trainers of Mutual Fund
Distributors in India.
Key Training Programs:
 Mutual Fund Distributors Certification by NISM for prospective NJ Wealth

Advisors
 Certified Financial Planner (CFPCM) Certification by FPSB India
33
CHAPTER 3
DISCUSSION AND ANALYSIS
3.1 Research Methodology
In common words research is known as a search for knowledge. Research is also

known as a movement, a movement from the known to the unknown. According to
Redman and Mory, ―It is a systematized effort to gain new knowledge.‖
It is said, "A PROBLEM WELL DEFINED IS HALF SOLVED". The step is to define
the project under study and deciding the research objective.
 Scope of study
A big boom has been witnessed in mutual fund industry in recent times. A large
number of new players have entered the market and trying to gain market share in
this rapidly improving market. The research was carried on in Ambala. I had been
sent at one of the branch of NJ INDIA INVEST in Ambala where I completed my
project work. I surveyed on my project topic ―CLIENT ACQUISITION: AN
IMPERATIVE COMPONENT OF WEALTH MANAGEMENT PROCESS‖. The study
will help to know the preferences of the customers, which company, portfolio, mode
of investment, and option for getting return and so on they prefer. This project report
may help the company to make further planning and strategy.
 Objective of study
1. To understand the wealth management process

2. To identify the most suitable way of client acquisition
3. To develop and structure a suitable portfolio for clients keeping in mind their
financial objectives, risk profile, and income
Research instruments
Data Collection: For the purpose of the study secondary data from various
websites, books and journals has been taken. Most information has been taken from
insights gained through interactions with various members of the Sales Team.
Research Design: Judgmental
34
3.1 CLIENT ACQUISITION: AN IMPERATIVE COMPONENT OF WEALTH
MANAGEMENT PROCESS
WEALTH MANAGEMENT
Wealth management is professional service which is the combination of

financial/investment advice, accounting/tax services, and legal/estate planning for
one fee. In general, it is more than just investment advice, as it can encompass all
parts of a person's financial life.
Wealth managementis an investment advisory discipline that incorporates financial
planning, investment portfolio management and a number of aggregated financial
services. High Net Worth Individuals (HNWIs), small business owners and families
who desire the assistance of a credentialed financial advisory specialist call upon
wealth managers to coordinate retail banking, estate planning, legal resources, tax
professionals and investment management. Wealth managers can be an
independent Certified Financial Planner, MBAs, Chartered Strategic Wealth
Professional, CFA Charter holders or any credentialed professional money manager
who works to enhance the income, growth and tax favored treatment of long-term
investors. Wealth management is often referred to as a high-level form of private
banking for the especially affluent. One must already have accumulated a significant
amount of wealth for wealth management strategies to be effective.
Wealth Management Services include:
 Portfolio Management Services and Advisory
 Tax planning
 Business succession planning
 Trading in Equity, Currency, Interest Rate Futures
 Mutual Funds & IPOs
 Fixed Income Products
 Near Risk-free Arbitrage Products
 Structured Products
 Private Equity
35
 Financial Planning
 Insurance planning
 Retirement planning
 Asset Protection
3.2 WEALTH MANAGEMENT PROCESS
DETERMINATION OF
CLIENT
CLIENT’S
ACQUISITION
OBJECTIVES
REALIGNMENT
RISK PROFILING
MANAGEMENT OF PORTFOLIO
PORTFOLIO CONSTRUCTION
Figure 1: Wealth Management Process
36
3.3 CLIENT ACQUISITION
Client acquisition is theprocess of converting existing as well as new

prospects into customers in pursuit of building a long term relationship with
them. It is imperative for any organization to retain customers along with acquiring
them. Customer retention involves keeping, sustaining as well as growing the
relationship customers have with the company, wealth manager and the various
products/services offered to them.
Customer acquisition management is a term used to describe the methodologies
and systems to manage customer prospects and inquiries, generally generated by a
variety of marketing techniques. It can be considered the connectivity between
advertising and customer relationship management. This critical connectivity
facilitates the acquisition of targeted customers in an effective fashion.1
Client acquisition serves as a foundation for the wealth management industry
because in the absence of clients, there is no receiver of the meticulously designed
value added services modeled by the wealth management company.
3.4 IMPORTANCE OF CLIENT ACQUISITION
The foremost necessary aspect of wealth management is to develop a robust base

of customer equity. This is because customer relationships play an important role in:
1. improved services,
2. increase in perceived value derived from the company‘s products/services,
3. increased sales,
4. higher profitability, and
5. consequently deeper penetration in each account.
Without customers, wealth management firms have a tendency to not exist,

customer service is useless and there would be no want for professional sales
37
personnel. Next to employees, customers are the company‘s most precious asset.
Consequently, client acquisition and service must become a core competency. 2
Therefore, client acquisition is the main focal point that serves as a pivot for further
operations of the company.
3.4 DIFFICULTIES IN CLENT ACQUISITION
Wealth management firms face a myriad of challenges that are posed by both the
internal and external business environment they exist in. In order to constantly
outperform other players in the industry, companies need to capture more clients
and build on customer equity. This, however, is a daunting task because of the
following main reasons:
LACK OF TRUST
There is an inherent inertia in the customers when it comes to management of their
personal wealth through a service provider. Also, recent events like the Citibank
Fraud have led to negative sentiment and increased caution from HNIs towards
wealth management.
COMPETITION
According to the publication WealthNet, ―Wealth Management has become one of
the most competitive arenas in all of financial services, with insurers, independent
financial advisors, and other intermediaries all competing for market share. Fierce
competition from various organizations has led to less visibility in the market.
OBSCURITY IN USP
Because of a labyrinth of service providers customers can choose from, it has
become progressively difficult for Wealth Managers to differentiate their services
from competitors and create a unique selling proposition.
3.5 TRADITIONAL METHODS OF CLIENT ACQUISITION
38
The traditional methods of acquiring clients include:
COLD CALLING
Cold calling refers to a method used by brokers/wealth managers to obtain new
business by making unsolicited calls to potential clients.3 There are mixed opinions
on the ethicality of cold-calling, many counties have put forward legislation restricting
this practice. For instance, in a major initiative to stop telemarketing calls, the
Telecom Regulatory Authority of India has started the National Do Not Call Registry
of India.
ORGANIZING EVENTS
Organizing events involve a huge expenditure and the probability of lead generation
is highly volatile. They include holding or sponsoring conferences etc.
REFERENCES FROM EXISTING CLIENTS
Customer referrals are a very profitable method of generating new business with
high quality customers and reduced overall cost of acquisition.
3.6 CREATIVE WAYS OF CLIENT ACQUISITION
QUESTIONNAIRE
The questionnaire method involves cold calling prospective customers in pursuit of
getting a questionnaire filled which is in fulfillment of a company research on
―Factors Affecting HNWI‘ Decision Making Process in Investment Management‖.
Once a meeting is secured, the questionnaire that has been designed specifically to
ascertain the kind of investments made and financial goals of the prospect, along
with his general perception about wealth management firms. The deviations, if any,
are analyzed and appropriate suggestions may be given to secure a talking point.
Advantages:
 Relevant data gathering as well as insight into the needs of a customer
 Identifying gaps between the goals and strategies
 Opportunity to create suitably aligned strategy
39
Potential Limitations:
 There may be customer indifference or disinterest in filling up a questionnaire
 Inertia while answering questions
BLOGGING
Blogging as a method of customer acquisition involves maintaining blogs on social
networking websites through which advice can be given to potential customers and
cloud word-of-mouth marketing can be established.
Advantages:
 Easy communication of solutions and key services to the existing as well as
potential clients
 Building an effective network
 Online visibility
 Indian customers are still not very technologically savvy and therefore, the
reach to customers is limited
 Blogging and social networking requires a lot of time which makes it
unsuitable for implementation in two months.
COLD CALLING A PARTICULAR SEGMENT OF HNWIs

This method includes cold calling a particular segment of profession among HNWIs
and designing services and offerings keeping in mind their particular needs and
requirements.
Advantages:
 Customization of offerings
 May lead to a myopic view
40
 Difficulty in designing services exclusive to that particular segment.
EMPLOYING GOOGLE’S REMARKETING TOOL

The procedure involved in this method is as follows:
• Employ Google's remarketing tool on the company‘s official website
• Create database from the IP addresses received
• Profiling of prospects
• Filtering exercise
• Cold calling of the selected prospects
Advantages:
 There is an inherent first mover advantage as most Indian wealth
management firms are unaware of the concept
 Higher success rate in conversion of prospects to clients
 Improved visibility in customers‘ online searches
Disadvantages:
 This method is not relevant for a short term horizon
 The relevance in Indian markets is low because the customers do not depend
on internet searches to make investment related decisions
 The authenticity of the database is questionable because it is difficult to
determine whether a particular IP address is of a HNWI or not.
3.7 CONCLUSION
Client Acquisition Method:

Google‘s remarketing tool can prove to be immensely useful if implemented by the
company in near future as it will give it a first mover advantage and successfully
acquire clients through cloud databases.
41
Remarketing tags the web page a person is visiting with a cookie — a file that
contains information about a user‘s activity on the Internet and is tracked as the user
surfs the web. This enables it to track the behavior of the user through various
websites online. It then updates its database with such valuable data.
3.8 RISK PROFILING
Before constructing a portfolio, it is extremely important to determine the client‘s risk

profile. The allocation of assets to the portfolio is dependent on the risk appetite of
the client that is affected by his income, psychological risk tolerance level and the
financial goals to be achieved. For this, Sanlam Investments and Advisors Ltd. has a
questionnaire designed specifically to analyze the risk profile:
 RISK PROFILING QUESTIONNAIRE
1. What is the main reason for you investing in the financial markets?
I have to rely on my investments to supplement my cash flow
I have to rely on my investments to supplement my future income (such as

pension)
I want to save for any future unexpected expense
I want to grow my capital by using less volatile investment tools
I want to grow on my capital using aggressive investment tools
2. How would you describe your present income?

More than sufficient to cover my living expenses (I am able to save a
certain amount every year)
Sufficient to cover my living expenses (I am not able to accumulate my

savings)
42
Not sufficient to cover my living expenses (I need to supplement my
income with returns on my investment)
3. How would you best describe your income expectations over the next five
years?
I expect my income to rise well ahead of inflation (through promotions,
career developments, etc.)
I expect my income to keep pace with inflation
I expect my income to fall (as a result of retirement, reduced working

hours, etc.)
My income fluctuates from year to year (such as self-employed investors)
4. Have you invested before?

Never (proceed to No. 7)
Yes, through a discretionary portfolio manager
Yes, in connection with investment linked insurance policy
Yes, through direct investments or investment trusts/mutual funds
5. Which of the following investment vehicles do you have experience in, and for
how long have you invested in such products?
5.1 Fixed Income (such as bond, Convertible Bonds, Capital-Protected
Structured Investments/Notes)
0~less than 2 years 2 years ~ less than 5 years
5 years ~ less than 10 years 10 years or above
43
5.2 Unit Trusts, Mutual Funds or Collective Investments
0~less than 2 years 2 years ~ less than 5
years
5.3 Securities (such as Shares, Equity-Linked Notes, ETFs, Open-End

Certificates), Dual Currency Investments, Non-Capital Protected
Structures Investment/Notes
years
5.4 Options, Futures, Warrants, Mini-Certificates, FX Margin Trading

years
6. On average, how many investment transactions (buy and sell) such as

securities trading, dual currency investment, mutual fund and structured
notes, investment, FX Margin trading (exclude FX Spot trading) do you initiate
each year?
More than 150 times Between 51 and 150 times
Between 26 and 50 times Between 5 and 25

times
Less than 5 times None
44
7. How often would you like to review your investment portfolio in the future?
Rarely or never At least once a year
At least once a quarter At least once a month
Several times a week
8. Investments carrying a higher risk come with a bigger chance of achieving

higher returns, but also a bigger chance of incurring substantial losses. Each
investor has a different appetite for risk. Which of the following return
scenarios would be most comfortable to you? These return scenarios are
solely used for this risk profiling only, it must not be considered as the
expected return/loss of any investment product.
Between a loss of 2% and a gain of 13%
9. How would a sharp drop in your investments affect you?

It would personally affect me very much
I would be disappointed
I would be disappointed, but do recognize that this is always possible
It would not affect me
10. Would you be prepared to invest in a way where you could possibly lose more
than the amount you initially invested (leverage)?
Yes No
45
11. Assuming that you have some amount to invest, what degree of risk are you
prepared to accept in order to achieve your goal?
The safety of my money is the primary objective
I want my investment to generate some return but my capital should

remain stable
I am willing to accept short-term fluctuations in capital in exchange for

higher returns over the long term
In order to achieve maximum return, I am willing to accept a higher degree

of risk
3.9.1 PORTFOLIO CASE STUDY I
DETAILS OF THE HNWI

The current portfolio of the individual is as follows:
Table 1: EXISTING PORTFOLIO OF HNWI
AMOUNT (
ASSETS AMOUNT ( ) LIABILITIES )
Mutual Funds 1667023 Insurance Premium 150000
Equity Stocks 1140363
PPF 200000
Cash in hand 1000000
TOTAL 4007385 150000
Table 2: COMPOSITION OF MUTUAL FUND PORTFOLIO OF HNI

PURCHA VALUE MARK
SE AT NA ET
PRICE( COST ( V VALUE RETU
SCHEME NAME UNITS ) ) ( ) ( ) RN
46
EQUITY
AIG World Gold-G 1567 16 25000 15 23202 -7%
Bharti AXA Equity Reg-G 23538 16 377500 17 406028 8%
BSL Frontline Eqt-G 315 79 24984 87 27341 9%
BSL Frontline Eqt-G 812 60 48925 87 70501 44%
DSPBR T.I.G.E.R. Reg-G 311 36 11068 44 13670 24%
DSPBR World Gold Reg-G 779 19 15000 18 13780 -8%
Franklin India Bluechip-D 1173 30 34727 38 44965 29%
Franklin India Prima Plus-G 160 163 26000 221 35286 36%
Franklin India Smaller
Companies-G 5000 10 50000 14 71855 44%
Franklin India Taxshield-G 98 51 5000 210 20554 311%
HDFC Core & Satellite-G 1956 10 20000 40 78760 294%
HDFC Equity-G 88 124 11000 279 24654 124%
HDFC Taxsaver-G 99 111 11000 233 23091 110%
HSBC Tax Saver Equity-G 2840 8 24000 14 40508 69%
ICICI Pru Dynamic-G 798 68 54451 107 85474 57%
ICICI Pru Dynamic-G 377 68 25723 107 40379 57%
IDFC Premier Equity Plan A-D 3338 13 42449 23 78322 85%
IDFC Premier Equity Plan A-G 627 33 20418 32 20073 -2%
IDFC Premier Equity Plan A-G 1211 33 39459 32 38792 -2%
Reliance Banking Retail-G 948 110 104680 101 95451 -9%
Reliance Banking Retail-G 977 51 50000 101 98315 97%
Reliance Equity Opportunities-G 1529 39 59156 36 54755 -7%
Reliance Regular Savings Equity-
G 3710 27 100000 30 111261 11%
Reliance Tax Saver-D 1862 15 27478 15 27252 -1%
Reliance Tax Saver-G 1109 18 20000 21 23067 15%
Sundaram Select Midcap Reg-G 132 129 16990 151 19977 18%
Tata Tax Saving Fund 76 45 3439 46 3545 3%
47
Total Equity 1248448 1590858 27%
DEBT
Fidelity Ultra ST Debt Ret-DW 7613 10 76235 10
Total Debt 76235 76165
GRAND TOTAL 1324683 1667023 26%
The portfolio has a market value of 16,67,023 and has generated a return of 26%.The
equity shares’ portfolio of the HNWI is given below:
Table 3: PORTFOLIO COMPOSITION OF EQUITY
QUANTIT
MARKET
MARKET
RETURN
STOCKS
VALUE
VALUE
PRICE
PRICE
BOOK
BUY
( )
( )
( )
( )
( )
Y
366.07
Bharti 300 5 109822.5 376.55 112965 3,143
ICICI Bank 60 890 53400 1046 62760 9,360
Rpower 350 151 52850 116.9 40915 (11,935)
Glenmark 1000 451.31 451310 308 308000 (143,310)
BGR Enegry 70 327.81 22946.7 492.8 34496 11,549
Dahampure 875 88.96 77840 16.1 14087.5 (63,753)
Prakash Industries 1000 279.43 279430 69.5 69500 (209,930)
Nagpur Power 1000 78 78000 45.9 45900 (32,100)
Strides arcolab 700 142 99400 366.5 256550 157,150
780.19
Reliance Industries 20 5 15603.9 953.45 19069 3,465
RCom 100 191.06 19106 92.95 9295 (9,811)
Dish TV 500 46.57 23285 80.85 40425 17,140
Spicejet 1000 33.53 33530 34.9 34900 1,370
Videocon 500 412 206000 183 91500 (114,500)
GRAND TOTAL 7475 1522524.1 1140362.5 (382,162)
48
The portfolio has given a negative return of 25.10% and the reduced market value is 11,40,
363.
INCOME
The annual income of the individual is 18,00,000 out of which 80,000 is deducted
per annum for Provident Fund. The increment in salary is 10% per annum. Also, the
workplace provides a medical insurance of 2,00,000.
EXPENSES
 The annual expenses amount to 60% of the income.
 3500 per month gets invested in gold ETFs. This will continue for the next 3
years.

INSURANCE
 Life insurance from Met Smart Plus of sum assured 50,00,000 with annual
premium of 1,00,000. The maturity of the scheme is in 100 years and the
nominee is the mother of the HNI.
 Endowment Policy of LIC Jeewan Anand with sum assured of 2,00,000,
maturing in 2016. The premium paid per annum is 14,520.
 HDFC standard Life pension policy maturing in 2029 with an annual premium
of 10,000.
 Met Magic (Child Plan) of sum assured 1,00,000 with annual premium of
20,000. The nominee is the niece and the policy matures in 2028.

LIQUID CASH
The individual keeps 80,000 as liquid cash every year in a savings account of a
bank.
49
CURRENT ASSETS
Owns a Honda city.
FINANCIAL GOALS
 The individual wishes to purchase a house worth 70,00,000 in Greater

Noida which she‘s going to put on rent.
 The lifestyle expenses amount to 3-5 lakh per annum
 The health related expenses may be roughly 10,00,000 per annum
PHILANTHROPIC ACTIVITIES
The individual is positively inclined towards charity and is currently sponsored a child
at 7,500 per annum for the last 3 years. She‘s also engaged in Kar Seva at a
Gurudwara.
PROJECTIONS FOR RETIREMENT
Table 4: Housing Loan Details for HNWI

HOUSE PARTICULARS AMOUNT ( )
COST 7,000,000
FURNITURE+FIXTURES 800,000
ADD ONS 200,000
TOTAL 8,000,000
DOWNPAYMENT 2,000,000
(FLOATING RATE 0F
9.5%) PAYMENT 751,848
RENT RCVD 500,000
The payment for housing loan per year is 7,51,848
50
Table 5: Break-Up of Income of HNI
YEAR AGE SALARY PF DEDUCTION INCOME IN HAND

2011 32 1800000 80001 1719999
2012 33 1980000 88001 1891999
2013 34 2178000 96801 2081199
2014 35 2395800 106481 2289319
2015 36 2635380 117129 2518251
2016 37 2898918 128842 2770076
2017 38 3188810 141727 3047083
2018 39 3507691 155899 3351791
2019 40 3858460 171489 3686971
2020 41 4244306 188638 4055668
2021 42 4668736 207502 4461234
2022 43 5135610 228252 4907358
2023 44 5649171 251077 5398094
2024 45 6214088 276185 5937903
2025 46 6835497 303804 6531693
2026 47 7519047 334184 7184863
2027 48 8270951 367602 7903349
2028 49 9098047 404363 8693684
2029 50 10007851 444799 9563052
CONCLUSION
The investible surplus with her for every year is as follows:
Table 6: Investible Surplus Each Year with the HNWI

RETURN
INVESTIBLE RETURN FROM VALUE OF
SURPLUS FROM VALUE OF EQUITY EQUITY EQUITY (
YEAR ( ) DEBT ( ) DEBT ( ) DEBT ( ) ( ) ( ) )
2011 (2,72,125 27,212 2,177 29,389 2,44,912 29,389 2,74,302
2012 4,88,768 48,877 3,910 52,787 4,39,891 52,787 4,92,678

2013 85,860 7,72,742
51
8,58,602 6,869 92,729 92,729 8,65,471
2014 14,14,582 1,41,458 11,317 1,52,775 12,73,124 1,52,775 14,25,898
2015 21,95,101 2,19,510 17,561 2,37,071 19,75,591 2,37,071 22,12,662
2016 33,44,787 3,34,479 26,758 3,61,237 30,10,308 3,61,237 33,71,545
2017 47,27,006 4,72,701 37,816 5,10,517 42,54,306 5,10,517 47,64,822
2018 64,91,435 6,49,144 51,931 7,01,075 58,42,292 7,01,075 65,43,367
2019 87,07,492 26,12,248 2,08,980 28,21,227 60,95,245 7,31,429 68,26,674
2020 1,13,85,607 34,15,682 2,73,255 36,88,937 79,69,925 9,56,391 89,26,316
2021 1,46,58,200 43,97,460 3,51,797 47,49,257 1,02,60,740 12,31,289 1,14,92,029
2022 1,86,23,235 55,86,971 4,46,958 60,33,928 1,30,36,265 15,64,352 1,46,00,616
2023 2,33,92,752 70,17,826 5,61,426 75,79,252 1,63,74,926 19,64,991 1,83,39,917
2024 2,90,94,736 87,28,421 6,98,274 94,26,695 2,03,66,315 24,43,958 2,28,10,273
2025 3,58,75,230 1,07,62,569 8,61,006 1,16,23,575 2,51,12,661 30,13,519 2,81,26,180
2026 4,39,00,705 1,31,70,212 10,53,617 1,42,23,828 3,07,30,494 36,87,659 3,44,18,153
2027 5,33,60,737 1,60,08,221 12,80,658 1,72,88,879 3,73,52,516 44,82,302 4,18,34,818
2028 6,46,71,013 1,94,01,304 15,52,104 2,09,53,408 4,52,69,709 54,32,365 5,07,02,074
2029 7,76,98,316 2,33,09,495 18,64,760 2,51,74,255 5,43,88,822 65,26,659 6,09,15,480

TOTA
L 40,08,88,306
52
This surplus generated can be invested by her in other equity schemes, being an
aggressive investor along with some component of debt.
Till the year 2019, 90% of the investible surplus is allocated to equity and
commodities while 10% of the amount is allocated to debt in pursuit of capital
preservation.
In the subsequent years, she should tone down her exposure to equity because
she‘d have reached an age where the focus should be more on safety of money
invested. Hence, the allocation of debt in the portfolio has increased to 30%.
The average rate of return on debt has been assumed to be 8% while that on equity
has been assumed as 12%.
The PF investments will yield 1,98,60,433 at the end of the year 2029, being
invested at a rate of 10%.
The savings would yield 2,61,61,905 at the end of the year 2029, again, invested
at a rate of 10%.
As a stop loss mechanism she can liquidate her equity portfolio and use the surplus
liquid funds of 10,00,000 to pay off 20,00,000 as down payment for the house.
Table 7: Future Value of Invested Amount and Required Amount
FACTOR 2.53
FUTURE
VALUE 15,86,45,116
REQUIRED
AMT 4,50,00,000
The above table shows the expected value of the future amount the investible
surplus will generate compared with the amount required by the HNWI to meet her
retirement goals. It is clear, that she‘d be able to meet her financial objectives given
the above rate of return.
53
3.9.2 PORTFOLIO CASE STUDY II
CLIENT DETAILS:
Age: 60 years Gender: Male

Profession: Businessman Marital Status: Married
Children: Three, all of whom are independent Liabilities: None
The details of his current portfolio are given below:
Table 8: Investment Details of HNWI 2
ASSETS AMOUNT ( ) LIABILITIES AMOUNT( )
Equity MFs 18000000 - -
Debt MFs 12000000
Equity Stocks 6000000
Surplus Cash 8000000
The current portfolio of equity stocks and mutual funds had been generating an
average return of 10-12% every year.
The client needs a recommendation for investment avenues available for the surplus
amount of 80,00,000.
Table 9: Client Profiling of HNWI 2
CLIENT NAME: XYZ

FINANCIAL
OBJECTIVE: Invest surplus funds to generate reasonable returns
RISK PROFILE: Moderate
TIME HORIZON: 1 Year
INVESTIBLE
AMOUNT: 8,000,000
Because the client is past the stage where he needs to provide for his family or take
care of any liabilities, the investible surplus he has can be invested in high to
moderate risk asset classes. However, at the same time, he doesn‘t want to take
54
huge amount of risk, and wants to park some of his funds in asset classes that
provide capital preservation.
CONCLUSION
PERCENTA WEIGHTE
AMOUNT GE AVERA D NET
ASSET INVESTE ALLOCATIO GE AVERAGE RETUR
CLASS OBJECTIVE D N RETURN RETURN DDT N
To provide returns that
closely 10%
GOLD correspond with the
ETFS price of real gold 2,500,000 31.25% 15% 4.69% 20% 4.22%
closely 10%
correspond with the
E-SILVER price of real silver 1,500,000 18.75% 15% 2.81% 20% 2.53%
To provide returns along
with
LIQUID low risk and high
FUNDS liquidity 2,000,000 25% 6% 1.50% 12.5% 1.31%
To limit the downside
through investment
in a combination of
BALANCE equity and debt
D MFs for capital appreciation 2,000,000 25% 10% 2.50% NIL 2.50%
TOTAL 8000000 100% 11.50% 10.56%
3.9.3 PORTFOLIO CASE STUDY III
7.7.1 CLIENT DETAILS:
Age: 38 years Gender: Male

Marital Status: Married Dependents: 2 kids aged 5years and 3 years
Profession: Salaried Annual Income: 50,00,000
55
The details of his current portfolio are as follows:
Table 10: Investment Details of HNWI 3

ASSETS AMOUNT LIABILITIES AMOUNT
Surplus Cash in Savings
50,00,000 - -
A/c
House 50,00,000
TOTAL 1,00,00,000 0
Insurance: The client doesn’t have any insurance.

Fixed Deposit: The client doesn’t have any fixed deposits.
Other Investments: All surplus funds are deployed by the client are in savings accounts of
various banks. He has no experience in investing in the stock markets because of lack of time
as well as adequate knowledge.
Now, however, the client wishes to take insurance cover as well as make investments in the
stock market to earn higher returns.
Table 11: Profiling of the Client

CLIENT NAME: XYZ
FINANCIAL
OBJECTIVE: Pure investment purpose
RISK PROFILE: Moderately-aggressive
TIME HORIZON: 5-6 years
INVESTIBLE
AMOUNT: 5000000
56
CONCLUSION
PERCENTA WEIGHTE
AMOUNT GE AVERAG D NET
ASSET INVESTE ALLOCATIO E AVERAGE TA RETUR
CLASS OBJECTIVE D N RETURN RETURN X N
GOLD/ closely correspond 10%
SILVER with the price of real
ETFs gold/silver 600000 12% 15% 1.8% 20% 1.62%
To provide capital
EQUITY appreciation and earn
STOCKS high returns 1200000 24% 12% 2.9% NIL 2.9%
EQUITY To generate long term
MFs capital appreciation 1600000 32% 14% 4.5% NIL 4.5%
To preserve capital as 10%
well as generate
DEBT MFs reasonable income 500000 10% 8% 0.8% 20% 0.72%
To provide risk cover
INSURANC in case of an untimely,
E unfortunate event 600000 12% 6% 0.66% 25% 0.50%
FIXED To provide safety as 10%
MATURIT well as some amount of
Y PLAN income from capital 500000 10% 8% 0.8% 20% 0.72%
TOTAL 5000000 100% 11.4% 10.92%
The annual income of the individual is sufficient for him to generate an investible
surplus that can generate adequate returns to meet his long-term objectives of his
children‘s higher education, their marriage and retirement planning for himself.
Therefore, he can take on an aggressive approach on investments and allocate a
fair amount in commodities, equity stocks as well as mutual funds, insurance in the
form of life insurance term plan and child plans for each of the children and some
fixed maturity plans to preserve capital in adverse market situations.
57
CHAPTER: 4
S.W.O.T ANALYSIS, SUGGESTIONS AND CONCLUSION
4.1 S.W.O.T. Analysis
Strengths
The biggest strength of the organization is the;
•Money power, which makes them ignorant about gestation period.
•Brand image, business experience and innovative products.
•The agents are very selectively chosen have excellent communication skills.
•Service quality which is the crux of their mission.
Weakness
•High target for financial advisor and sales departments.
•Many competitors in market offer same products by the little difference in the
offering.
•Sustainable to risk associated with investments in money market.
Opportunity
•Huge market is literally untapped; out of estimated 320 million only 20%of
population has investment in mutual fund industry.
•Equity and ELSS schemes, contribute an estimated market potential
of approximately $15 billion.
Threats
•Entry of many other private player companies with equally strong experience and
financial strength of foreign partners making the competition difficult and saturating
the urban market.
•Current government Policies which do not encourage gross domestic saving. If the
tax liability of service class rises the customer will have little money to invest.
4.2 Suggestions:
From the above analysis, I found that even though certainly not the best or deepest
of markets in the world, it has ignited the growth rate in mutual fund industry to
provide reasonable options for an ordinary man to invest his savings.
With the help of –
58
 Give more importance to safety and return attributes because Independent
Financial Advisors are more concern about safety and of giving more benefit
of the investments to their clients.
 Independent Financial Advisors who are not suggesting their clients to invest
in mutual funds due to their lack of knowledge of mutual funds. So, NJ INDIA
INVEST should arrange mutual fund awareness Program of their and other
independent Financial Advisors on regular basis.
 By providing better service NJ INDIA INVEST should try to attract the
Independent Financial Advisors to join with them.
 NJ INDIA INVEST should arrange special mutual fund awareness program for
general public. So they can directly work with NJ INDIA INVEST as direct
client.
 Majority of the Government employees take into consideration tax benefits
before making any investment. So NJ INDIA INVEST should highlight tax
benefits in mutual funds.
 NJ INDIA INVEST should launch its brand awareness campaign to be
successful in Mutual fund advisory service provider
 NJ INDIA INVEST should also concentrate on youngster who are interested
in savings so make them aware about different schemes for investment and
arrange seminars for college going students, by this company gets more
customers connected for long period.
 Put hoardings outside the colleges making NJ INDIA known to them and try to
attract them.
Key Findings: -
 Around 50% of the investors invest to maximize their returns and they are ready
to take moderate risks in their investment portfolio.
 Most of the investors give importance to the fact that their investment should
grow in value over aperiod of time.
 Growth scheme is the most preferred for investment
 Knowledge about mutual funds and their various schemes is moderate among
investors.
59
 It is necessary to make Mutual Fund more popular in the eyes of investors as
well distributors and also cater trust which has been lost due to US-64.
 Most of the investors give importance to return, tax saving etc.
 Objectives of the investor are to get something in return for their investment and
the risk they are taking.
 Here the objective of the investor between the age of 20-30 is to earn the higher
return.
 While the age group above 30years concentrates on safety and tax saving and
they even take care of the liquidity.
4.3 Conclusion
A mutual fund is a type of professionally managed collective investment vehicle that

pools money from many investors to purchase securities. The mutual fund industry
in India started in 1963 with the formation of Unit Trust of India. At the end of JUNE
2013, there were 44 fund players. The structure of mutual funds in India is governed
by the SEBI Regulations, 1996. These regulations make it mandatory for mutual
funds to have a 3-tier structure of Sponsors-Trustee-AMC (Asset Management
Company).
Mutual funds are usually classified in accordance with their structure – as
closed-end or open-end. Schemes can also be grouped in terms of whether the fund
collect from investors any charges at the time of entry or exit or both. Schemes are
also be classified as being tax-exempt or non-tax-exempt.
NJ India invest, karvy, Anand rathi, Trustline etc are the leading distributor of
mutual fund in India. NJ INDIAINVEST Pvt. Ltd. is one of the leading advisors and
distributors of financial products and services in India. Established in year 1994 NJ
Product basket is Domestic mutual funds (all AMCs), Capital Markets - direct
equity and ETFs, Fixed Deposits of companies, PMS products (Third party & NJ)
Government/ RBI/ Infrastructure bonds, Residential & commercial properties.
There are some advantages in investing mutual fund like affordability,
diversification, tax benefits, variety, professional management etc. There are also
some disadvantages of investing in mutual fund like no control over cost, no tailor
made portfolio, delay in redemptions, non availability of funds. Before investing in
60
mutual fund we have to understand some risks involved in mutual fund. Higher the
risk, higher will be the chance of profit. Some risk consider before investing are
Market risk, Credit risk, Inflation risk, interest risk etc.
Financial planning is needed before investing in mutual fund. Financial Planning is a
way not only knowing those things; it is a road map to achieve them. Financial
planning simply arranging finances keeping in mind the financial goals. Financial
planning is helpful for achieving objectives like outflow inflow of cash, how to raise
money etc.
From the above finding and result it is concluded that still lot of peoples are not
aware about the MF. The most people prefer to invest other securities like P.O
deposits, Bank deposits etc. So to make more aware about MF companies should
use the better marketing and promotional strategies. Around 50% of the investors
invest to maximize their returns and they are ready to take moderate risks in their
investment portfolio. Most of the investors give importance to the fact that their
investment should grow in value over aperiod of time.
People are not aware with the benefits of MF. There is need to aware the people
about the benefit like Investor can buy in to a portfolio of equities, which would
otherwise be extremely expensive. Investors must spread your investment across
different securities (stocks, bonds, money market instruments, real estate, fixed
deposits etc.) and different sectors (auto, textile, information technology etc.), they
can also get tax benefits. Everybody wants to invest money, which entitled of low
risk, high returns and easy redemption. In my opinion before investing in mutual
funds, one should be fully aware of each and everything.
 Limitation of Study:
Every research has its own limitation and ptresent research work is no exception to
this general rule the inherent limitation of the study are as under:
-Interview method, which was followed in the present research work, is relatively
more time consuming. In addition to this it is very expensive method, especially
when spread geographic Sample is taken.
61
-Questionnaire method can be used only when respondents are literate and co-
operative.
- Sample size was 100 that are not enough to study the awareness of Independent
individuals.
- As sampling techniques is convenient sampling so it may result in personal bias.
Evenrespondent give bias answers. Time is main constraint of the research as we
have beengiven project as well as study simultaneously.
References
 Mutual fund web Sites
 www.amfi.com
 www.indiainfoline.com
 www.njindiainvest.com
 Company reports
 Fund watch
 Daily performance watch
 Report on financial planning
62

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SUMMER TRAINING PROJECT REPORT

B.S.A. College of Engineering & Technology, Mathura

NJ INDIA INVESTS PVT. LTD, FARIDABAD

As a part of the partial fulfillment of the MBA programme at B.S.A. College of

1.2 Industry profile

iii. Mutual fund structure

1.3 Players in the sector

2. NJ India Invest Pvt. Ltd 23-32

3.1 Research Methodology

4.2 Findings and recommendation

Practical training imbibes an integral part of management studies. One cannot

A mutual fund is a type of professionally managed collective investment vehicle that

II. Concept of Mutual Fund

III. Mutual Fund structure

IV. Types of Mutual fund

 Tax-exempt vs. Non-Tax-exempt Funds:

Generally, when a fund invests in tax-exempt securities, it is called a tax-exempt

1.3 PLAYERS IN THE SECTOR

DWS Investments is the mutual fund arm of Deutsche Asset Management,

 BONANZA- Bonanza is a leading Financial Services & Brokerage House. It

2.2 Organization structure

 Sales and product team

Table no. 2.1

Mr. Misbah baxamusa National sales head

Table no. 2.2

Mr. Abhishek dulbey Head of strategic business

2.3 Our Divisions

A. NJ Fundz Network :- NJ Fundz Network has been playing a pioneering role in

2.5 NJ Wealth – Financial Products Distributors Network

NJ Wealth - Financial Products Distributor Network is one of India's leading and

 Domestic mutual funds (all AMCs)

 Dedicated Relationship Manager

Key customer services:

 Online Client PMS Desk with daily update reports

The NJ Realty venture offers an integrated service model offering end-to-end

NJ Insurance Brokers Pvt. Ltd., a licensed insurance broker by IRDA, seeks to

 Life insurance products from leading life insurers

4) Global Wealth Advisory

NJ Technologies is a latest venture by NJ wherein we aim to provide quality

6) Training & Development

The NJ Gurukul is a venture aimed at providing valuable training & education

Key Training Programs:

 Mutual Fund Distributors Certification by NISM for prospective NJ Wealth

DISCUSSION AND ANALYSIS

3.1 Research Methodology

In common words research is known as a search for knowledge. Research is also

1. To understand the wealth management process

Wealth management is professional service which is the combination of

3.2 WEALTH MANAGEMENT PROCESS

Figure 1: Wealth Management Process

Client acquisition is theprocess of converting existing as well as new

3.4 IMPORTANCE OF CLIENT ACQUISITION

The foremost necessary aspect of wealth management is to develop a robust base

Without customers, wealth management firms have a tendency to not exist,

3.4 DIFFICULTIES IN CLENT ACQUISITION

3.5 TRADITIONAL METHODS OF CLIENT ACQUISITION

3.6 CREATIVE WAYS OF CLIENT ACQUISITION

COLD CALLING A PARTICULAR SEGMENT OF HNWIs

EMPLOYING GOOGLE’S REMARKETING TOOL