Preliminary Investigation of the Company Assignment

Preliminary Investigation of the Company - Assignment Example The company's target markets include local clients as well as clients from foreign countries. Several concerns and opportunities were mentioned. The first is to establish the company as a household name when it comes to land management software. The company also hopes to establish itself as a big brand name in providing consultancy services, training, and customization in the said field. In order to establish itself as a market leader in the local scene, one should have a lot of customers. To rake in more sales, the company should be visible to potential clients locally as well as abroad. With this end in mind, the company is keen on putting up their own website. This will serve not only as an information center to current and potential clients but will bring in more sales what with the ease of availing products online and within the comforts of one's home. The company, being global in scale has recently felt that the market is too large to maintain strong relationships with all potential buyers. The company has been used to utilizing direct mail to attract new clients. However, this method does not ensure that the brochures and advertisement material are reaching the decision makers of the target companies. The current advertisement setup uses mail-outs to special groups which have been selected based on predefined criteria. These are sent out every 2-3 months. Instead of doing this, focus on the key persons for such companies, send them emails and find out how they will be able to use the software, and if possible, set up presentation meetings over lunch or dinner. This way, with a clear void to fill, the goal is more focused and a strategy to present the product in the best way possible to the potential customer can be formulated. Also, contingency plans can be set up in case the client rejects the first approach. Moreover, if the correspondences would prove that the prospect is a dead end, it should send the signal that it's time to move on to other prospects, thus saving time.     

Ww1, roaring 20s, theodore roosevelt Assignment Example | Topics and Well Written Essays - 500 words

Ww1, roaring 20s, theodore roosevelt - Assignment Example He propagated for a government that serves as an agent of reform for the benefit of the citizens. Through his belief in the government, he gave it, more power to regulate big businesses so that its activities did not affect the general public negatively. Roosevelt also revolutionized foreign affairs because he believed America had a responsibility to build a strong foreign policy. In terms of the presidential style of leadership, Roosevelt incorporated charisma into his political equation. He had a strong attachment to the public and knew how to use the media to shape public opinion (Giblin 151). Even after his death, his legacy continues today and Americans continue to commemorate his life. When Germany declared its intentions to resume unrestricted submarine attacks on Allied and neutral shipping areas within the prescribed war zones, President Woodrow Wilson did not find a reason to join the battle. He refrained from asking for a declaration of war on Germany since he doubted whether the U.S. public would support him (Giblin 51). He thought providing ample proof that the Germans intended to attack the U.S. ships without warning would more important instead of seeking support without proof. Wilson left open a possibility to negotiate the situation with the Germans in case they refrained from attacking the U.S shipping. Nevertheless, the German submarines sank several American ships throughout the February and March period, resulting in the death of several U.S. citizens and seamen. Thus, on February 26, President Wilson requested the Congress to allow him to arm the U.S. merchant ships with naval equipment and personnel (Giblin 121). The request proved unfruitful, and Wilson was forced to arm the merchant ships through his executive order. These among other conflicts between the Germany and the U.S. forced Americans to declare war on Germany in order to protect their territory. The 1920s is often regarded as the â€Å"Roaring Twenties,† and

U.S. Debit Essay Example for Free

U.S. Debit Essay Advancement in technology has challenged the traditional way of transacting as new financial services which offer reduced costs of transactions and incorporates innovations to delivery channels thereby increasing more value to businesses, customers and business activities have been introduced into the market place. For instance the electronic financial transaction services such as debit cards which are used as an alternative to cash when making payment of purchases. The funds are withdrawn from the buyer’s bank account or the balance in the card. Technological advancement has introduced a debit card to be used over the internet. This mode of payment has gained popularity in many countries because it is flexible and usually reduces the expenses that arise when a person operates cash funds outside the general account. This system was introduced to meet the demands of consumers who needed a safe and secure way of accessing their account anytime and at any place (Kobliner, 2009). In US the department of Treasury Financial Management Services (FMS) for federal agencies runs the debit card program allowing individuals to make nonrecurring and miscellaneous payment. This department also offers federal agents access to money when on official duty because it provides centralized payment services to the federal agency as it operates the collection and deposit systems of the federal government. Moreover, the use of the debit card is deemed to reduce the workload of accountants, auditors, staff members, drivers of indirect cost and enterprise resource planning (ERP) integration. Apart from this the debit card program offers management of various other programs such as benefits/ pension, disaster relief and travel expenses among others (Evans Schmalensee, 2005). Furthermore, the US debit card program emanates strict management control guided by powerful reporting mechanisms thereby ensuring ease in fund distribution. The reporting mechanisms are categorized into two; from the primary research sources for example conduction of interviews on financial analysts, consultants of the field, marketers and public relations officers. The other reporting mechanism is from secondary research sources which includes gathering data from the company reports of relevant trade businesses, consumer demographics from research bureaus and from government sources (Evans Schmalensee, 2005). The use of debit card in US has gained popularity that it overshadows the use of the credit card which was launched earlier. Statistics show that today more than 8 billion US citizens owns and uses a debit card in comparison to about 274 debit card holders in the year 1990 (Walden Peg, 2007). In the year 2008 about USD 206 billion dollars were received from debit card transaction in comparison to USD203 billion dollars received from credit card transactions in the same year (Walden Peg, 2007). This can be based on the fact that there are two types of debit cards which include the single deposit debit cards and multiple deposit debit cards. Single deposit cards are usually used to pay card holders incentives, bonuses, one-time stipend among other services while the multiple deposit debit card is usually designed to make payment to debt card holders for emergencies, payroll and recurring payments among others (Walden Peg, 2007). The use of debit cards has been credited as a secure means of transaction as it eliminates chances of fraudulent acts because of the imposed personal identification number (PIN) which is issued to the card holder once they become legal debit card holders. A card reader which is a small hand device that works independently from the computer is used to read the chip on the credit card which contains the eight digits pass code of the pin (the digits were increased from four to eight to increase security measures). This fact makes it difficult for fraudsters to get access to the PIN and thus reduces the overall number of debit card theft cases (Kobliner, 2009). The debit card programs offers an accurate and simplified reconciliation system because transactions are satisfied at the till as they are directly connected to the bank accounts of card holders. This is because the point of sale (POS) system offers reports that can be directly counter checked with reports created by the bank concerning the activities of the card holder’s bank account. The use of debit card programs also ensures that opening up of individual accounts is rapid and results to a low risk start up for bulk. This program also ensures immediate distribution of the debit cards because the issuance process is instant. Debit card holders have the freedom of accessing their accounts at anytime and from any place because the services offered by the debit card program run for twenty four hours, are available online and offers a real time funding system. The debit cards can also be used at any ATM points and by merchants such as online casinos among other vendors worldwide. While using debit cards transactions are done rapidly thus reducing the long queues that are witnessed in shopping parlors and other transacting sites. Debit card holders are therefore, comfortable and satisfied by the services extended by the debit card programs because of their convenience and the ability of fulfilling their demands (Kobliner, 2009). However, debit card issuers that is, the financial institutions are faced with a major marketing problem on their earnings and spending because they earn less profit when their customers use debit cards than when they use credit cards. This is because the finance charges, late fees and annual fees charged on credit card holders are not charged on debit card holders. Thus in contrast to the benefit and convenience consumers and merchants enjoy, debit card issuers struggle to increase the profit margins of their businesses. To overcome this drawback debit card issuers have implemented financial fee charges used to help the institution cater for expenses incurred when formulating and implementing reward programs tied to debt cards to attract more customers especially because the use of debit cards for financial transactions is growing rapidly. This initiative has created tension between the banks and merchants because of the fee that the financial institutions charge when accepting the use of the plastic cards in place of money. Merchants are complaining that the financial institutions have increased the amount of the fees that they charge on the use of debit cards while on the other hand they offer little reward benefits when they lower the amount of the fee they charge (Mann, 2006). Despite this hitches debit card issuers are still encouraged to continue supporting this technology as they have been able to survive and even earn profit during the 2009 economic recession that has had a standstill effects on many transaction and business activities (Kobliner, 2009). Therefore, from the above facts it is quite clear that US as a country will greatly benefit from the implementation of debit card programs because of increased levels of income generation. This will also improve the livelihood and lifestyle of US citizens. Reference List Evans, S. D. Schmalensee, R. (2005). Paying with Plastic: The Digital Revolution in Buying and Borrowing. 2nd Ed. Cambridge, MA: MIT Press. Kobliner, B. (2009). Get a Financial Life: Personal Finance in Your Twenties and Thirties. 3rd ED. NY: Simon Schuster. Mann, J. R. (2006). Charging Ahead: The Growth and Regulation of Payment Card Markets. Cambridge, UK: Cambridge University Press. Walden, M. L. Peg, T. (2007). Battleground: Business. Westport, Connecticut: Greenwood Publishing Group.

slaverybel Impact of Slavery in Toni Morrisons Beloved Essay

Impact of Slavery on the Individual Exposed in Beloved  Ã‚        Ã‚  Ã‚   In her novel, Beloved, Toni Morrison conveys her strong feelings about slavery. One of the major themes throughout the book is the impact that slavery has on the individual.   Morrison utilizes the characters Mr. Garner and Schoolteacher to illustrate how slavery affects everyone in a different way.    Though Morrison portrays Mr. Garner as the more humane master, in actuality he is no different then Schoolteacher, because ultimately they are both slave owners. Morrison includes the character, Mr. Garner, to show that even if you allow your slaves to do certain activities, you are still a displeasing human being because you are a slave owner.   Garner allowed his slaves to choose wives, handle guns, learn to read and even purchase a mother's freedom.   Garner let Halle buy his mother,   Baby Suggs' freedom, but as Halle points out to Sethe , his wife,   " If he hadn't of, she would of dropped in his cooking stove...I pay him for her last years and in return he got you, me and three more coming up" ( Morrison, 195-96).   Garner allowed for one slave's freedom, but received stronger, younger slaves in her place, which in his mind made him the victor of the deal.      Schoolteacher on the other hand treated his slaves without any respect because he did not believe they deserved any.   He use to measure them with string as if they were animals and ask them foolish questions in order to conduct research.   He also involved his nephews in these dehumanizing acts by persuading them to physically abuse the slaves, while he watched.   At one point in the book, the narrator discusses Schoolteacher's views on how Garner ran the plantation, " the spoiling these p... ...th a degree of trust and respect he was still a slave owner and that had definite effects on his slaves.   Yes, Schoolteacher had a more devastating effect on his slaves because he held absolutely no respect or compassion for any of his slaves, but these two characters were not very different. As Halle says, "What they say is the same.   Loud or soft" (Morrison, 195).   Halle sums it up perfectly, it did not matter that they treated their slaves differently, because in the end, they both owned people.   And those people were permanently effected by being owned and what their owners, nice or not, did to them.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Works Cited    Kubitschek, M.D. Toni Morrison : A Critical Companion. London: Greenwood Press,   1998. Morrison, Tony. Beloved. New York: Penguin Books, 1987.         

Executive Summary

EXECUTIVE SUMMARY Square Textile Ltd. started its operation in 1997. It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. The business lines of Square Textile Ltd. are manufacturing and marketing of yarn. Its factory is located in Gazipur , Dhaka. The manufactures 100% Cotton Ring Span Yarn or Hosiery , 100% Cotton OE Rotor For Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry. The strategic Goals and Objectives of the Company are to strive hard to optimize profit though conduction and transparent business operations and to create more competitive in the internal and external market. In home, customer of Square Textile Limited are export oriented readymade Garments Industry. The Company also exports its products to the market of Europe & USA . The export sells increased by 19% in 2003 over the previous year. Competition level is increasing both in local and abroad market . Competition will be more stiff after 2005 when multifiber agreement will be phaced out. Among the other foreign competitors Srilanka , China Pakistan and India are prominent. Square is one of the biggest employees in Bangladesh. It has a personnel and administrative department . The total number of employees are 1223. For the employees there are systematic in house training in home and abroad . The managing director, the CEO is the head of the executive management team . Below in there are directors , executive directors and general manager. Under the direct super vision of the general manager a number of departments are controlled. The Company is going through continuous growth in production . The total production increased year on year basis at the rates of 0. 43% and 1. 467% during 2002 and 2003 respectively . The Company’s operations are out on a aggregate basis and are managed as a single opportunity segment . The Company uses Computer Aided Design (CAD) , Computer Aides Spreading (CAS) and Computer Aided Manufacturing (CAM) in its plant to increase the overall efficiency and productivity. OBJECTIVE: The broad objective of this report is to provide an overview of HRM practice of Square Textiles Ltd. The specific objectives of this report are : †¢ To provide Company overview †¢ To provide market overview and analysis †¢ To reveal operational, management and HRM planning. †¢ Discuss all HRM practice METHOLODGY: To prepare this report we have collected data from different published materials. Then we have conducted a secondary study. After that we have prepared a questionnaire and took interview one of the executive serving in this Company. We also collect data from internet . This way we collected primary data. Thus we have used both primary and secondary report to prepare this report. INTRODUCTION: This report is prepared as a requirement of the course â€Å"Seminar in Human Resource Management. † We selected Square Textiles Ltd. Working on this organization we came to know various Kind of HRM practice which are use here. Though it is a textile, it has proved itself in the related industry s a major competitor. In this report we have followed the guidelines provided by the teacher. Here we have tasked not only the HRM practice but also the marketing, management, finance and operational area of the Company. 5. Human resource management 5. 1. Human resource planning Square has a personal and administrative Department . Square is one of the biggest employers in Bang ladesh. The total number of employers in Bangladesh . The total number of employees is 1,223. For the employees there are systematic in house training in home and abroad . To motivate the employees, along with salary and benefits the company provides various facilities like free meals , free transportation , 24 hour medical center , on site sports . Production and accommodation facilities includes full time supply of safe drinking water, adequate lighting and ventilation facilities from sheet. 5. 2 HR Practices of SQUARE textile Recruitment Training Performance Management Labor relation Employee relation Job analysis Job design Selection Development Incentives Benefits 5. 2. 1 Recruitment and Selection process in SQUARE Recruitment is the process trough which the organization seeks applicants for potential employment. Selection refers to the process by which it attempts to identify applicants with the necessary knowledge, skills, abilities and other characteristics that will help the company achieve its goals, companies engaging in different strategies need different types and numbers of employees. The strategy a company is pursuing will have a direct impact on the types of employees that it seeks to recruit and selection. Source of recruitment There are two kinds of source SQUARE uses for recruitment . They are 1. External source 2. Internal source. We try to discuss all relative sources which are used for recruitment in SQUARE. 1. Internal source SQUARE thinks that current employees are a major source of recruits for all but entry-level positions. Whether for promotions or for ‘Lateral’ job transfers, internal candidates already know the informal organization and have detailed information about its formal policies and procedures. Promotions and transfer are typically decided by operating managers with little involvement by HR department. 1. 1Job-posting programs HR departments become involved when internal job openings are publicized to employees through job positioning programs, which informs employees about opening and required qualifications and invite qualify employees to apply. The notices usually are posted on company bulletin boards or are placed in the company newspaper. Qualification and other facts typically are drawn from the job analysis information. The purpose of job posting is to encourage employees to seek promotion and transfers the help the HR department fill internal opening and meet employee’s personal objectives. Not all jobs openings are posted . Besides entry level positions, senior management and top stuff positions may be filled by merit or with external recruiting. Job posting is most common for lower level clerical, technical and supervisory positions. 1. 2 Departing Employees An often overlooked source of recruiters consists of departing employees. Many employees leave because they can no longer work the traditional 40 hours work week . School, child care needs and other commitments are the common reason. Some might gladly stay if they could rearrange their hours of work or their responsibilities . Instead, they quit when a transfer to a part-time job may retain their valuable skill and training. Even if part-time work is not a solution, a temporary leave of absence may satisfy the employee and some future recruiting need of the employer. 2. External source When job opening cannot be filled internally, the HR department of SQUARE must look outside the organization for applicants. We discuss all the external source of recruitment at bellow: 2. 1 Walk-ins and Write-ins: Walk-ins are some seekers who arrived at the HR department of SQUARE in search of a job; Write-ins are those who send a written enquire . both groups normally are ask to complete and application blank to determine their interest and abilities. Usable application is kept in an active file until a suitable opening occurs or until an application is too old to be considered valid, usually six months. 2. 2 Employee referrals: Employees may refer job seekers to the HR department . Employee referrals have several advantages . Employees with hard –to –find job skill may no others who do the same work. Employees referrals are excellent and legal recruitment technique, but they tend to maintain the status quo of the work force in term of raise , religions , sex and other characteristics , possibly leading to charges of discrimination. 2. 3 Advertising Want ads describe the job and the benefits, identify the employer, and tell those who are interested how to apply . They are most familiar form of employment advertising . for highly specialist requites, ads may be placed in professional journal or out of town newspaper in areas with high concentration of the desired skills Example: General Manager- production (ref: PM) Age: 28-35 years; Graduate with specialization in garment mfg technology from NIFT or equiv. -Minimum 10 years experience in similar position of a unit with a minimum of 1000machines. -Must have detailed hands on knowledge of industrial engineering. We offer competitive salary which is commensurate with experience and qualification. If you aspire to an exiting and rewar ding career , send your detailed resume, quoting your present and expected salaries to jobs. 2. 4 Internet Now today no body thinks anything without internet. So SQUARE give their advertise at internet. Example: WWW. bdjobs. com www. square. bd. com Executive summary The highly anticipated and much celebrated release of the newest and perhaps hippest cellular phone on the market has spurred a number of discussions on the applicability of these devices to other forums.   An important change which has revolutionized not only the way people interact and do business with one another but also the way relationships are formed in this world is the telephone. Alexander Graham Bell could never have imagined that phones today allow people to surf the internet and also watch movies.   The telephone has become such an integral part of the everyday lives of people.   This role is even expected to only become more and more important as the next generation of cellular phones will allow users to watch videos and talk to each other onscreen. This short discourse will therefore discuss the different marketing strategies for mobile phone providers.   This includes the features that are offered in the market for current cellular phones such as the WAP access and even the video or camera quality.   As shown in other pertinent marketing studies that will be discussed in this discourse, there are also other important considerations that consumers take into their decision making process with regard to the purchase of a mobile phone unit.   Using projective techniques and perceptual mapping techniques, this study will attempt to show which of these new features and marketing strategies have the greatest impact on the mobile phone industry.    Executive summary The highly anticipated and much celebrated release of the newest and perhaps hippest cellular phone on the market has spurred a number of discussions on the applicability of these devices to other forums.   An important change which has revolutionized not only the way people interact and do business with one another but also the way relationships are formed in this world is the telephone. Alexander Graham Bell could never have imagined that phones today allow people to surf the internet and also watch movies.   The telephone has become such an integral part of the everyday lives of people.   This role is even expected to only become more and more important as the next generation of cellular phones will allow users to watch videos and talk to each other onscreen. This short discourse will therefore discuss the different marketing strategies for mobile phone providers.   This includes the features that are offered in the market for current cellular phones such as the WAP access and even the video or camera quality.   As shown in other pertinent marketing studies that will be discussed in this discourse, there are also other important considerations that consumers take into their decision making process with regard to the purchase of a mobile phone unit.   Using projective techniques and perceptual mapping techniques, this study will attempt to show which of these new features and marketing strategies have the greatest impact on the mobile phone industry.   

The Rise Of Labor Unions, Strikes, Protests And Uprisings...

The later half of the 19th century was characterized by the rise of labor unions, strikes, protests and uprisings. Starting in the 1960s, workers started to feel strongly the presence and pressure of instability in social mobility. â€Å"The truth could hardly be denied. Class, as defined in terms of dignity, was increasingly insecure† [Isenberg[8]] The gap between the rich and the poor became wider and the working class erroneously placed in-between began to question their identity and in the process seek to define and defend this new identity Capitalist America was witnessing a boom in production as industrialism became more and more prominent. The gap between the rich and the poor continued to widen and eventually would evolve to create a new class. The Marxism theory identified the rise of the bourgeoisie and the proletariat; the bourgeoisie consisted of those who owned capital and supplied the means of production while the proletariat were the laborers who owned only thei r labor and offered it up to the bourgeoisie in return for wages. According to the Marxism theory, the definition of the working class was simply made up of people who simply offered up work. The inclusion of the Marxism theory above serves to clearly and simply define who the stakeholders were in the Industrial labor system. 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Reliance mutual fund - Free Essay Example

Sample details Pages: 29 Words: 8735 Downloads: 2 Date added: 2017/06/26 Category Statistics Essay Did you like this example? INTRODUCTION OF RELIANCE MUTUAL FUND Overview Reliance Mutual Fund (RMF) is one of Indias leading Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 1,22,252 CRORES and an investor base of over 72.40 Lacs. (AAUM and investor count as of November 2009) For its 7.3 million investors, RMF offers a well-rounded portfolio of products that meet varying requirements. They are served from offices across 226 locations in India, offices in Dubai, Singapore, Mauritius and UK Don’t waste time! Our writers will create an original "Reliance mutual fund" essay for you Create order Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. RMF offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 118 cities across the country. Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors. Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services. Sponsor: Reliance Capital Limited Trustee: Reliance Capital Trustee Co. Limited Investment Manager or Asset Manager: Reliance Capital Asset Management Limited Statutory Details: The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956. Reliance Mutual Fund (RMF) has been established as a trust under the Indian Trusts Act, 1882 with Reliance Capital Limited (RCL), as the Settlor/Sponsor and Reliance Capital Trustee Co. Limited (RCTCL), as the Trustee. RMF has been registered with the Securities Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. The name of Reliance Capital Mutual Fund has been changed to Reliance Mutual Fund effective 11th. March 2004 vide SEBIs letter no. IMD/PSP/4958/2004 date 11th. March 2004. Reliance Mutual Fund was formed to launch various schemes under which units are issued to the Public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities The main objectives of the Trust are: To carry on the activity of a Mutual Fund as may be permitted at law and formulate and devise various collective Schemes of savings and investments for people in India and abroad and also ensure liquidity of investments for the Unit holders; To deploy Funds thus raised so as to help the Unit holders earn reasonable returns on their savings and To take such steps as may be necessary from time to time to realize the effects without any limitation. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond their initial contribution of Rs.1 lakh towards the setting up of the Mutual Fund and such other accretions and additions to the corpus. The NAV of the Scheme may be affected, interalia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. The Mutual Fund is not assuring that it will make periodical dividend distributions, though it has every intention of doing so. All dividend dist ributions are subject to the availability of distributable surplus in the Scheme. Vision Statement To be a globally respected wealth creator with an emphasis on customer care and a culture of good corporate governance Mission Statement To create and nurture a world-class, high performance environment aimed at delighting our customers Corporate Governance Corporate Governance Policy: Reliance Capital Asset Management Ltd. has a vision of being a leading player in the Mutual Fund business and has achieved significant success and visibility in the market. However, an imperative part of growth and visibility is adherence to Good Conduct in the marketplace. At Reliance Capital Asset Management Ltd., the implementation and observance of ethical processes and policies has helped us in standing up to the scrutiny of our domestic and international investors. Management: The management at Reliance Capital Asset Management Ltd. is committed to good Corporate Governance, which includes transparency and timely dissemination of information to its investors and unit holders. The Board of Directors of RCAM is a professional body, including well-experienced and knowledgeable Independent Members. Regular Audit Committee meetings are conducted to review the operations and performance of the company. Employees: Reliance Capital Asset Management Ltd. has at present, a code of conduct for all its officers. It has a clearly defined prohibition on insider trading policy and regulations. The management believes in the principles of propriety and utmost care is taken while handling public money, making proper and adequate disclosures. All personnel at Reliance Capital Asset Management Ltd are made aware of their rights, obligations and duties as part of the Dealing Policy laid down in terms of SEBI guidelines. They are taken through a well-designed HR program, conducted to impart work ethics, the Code of Conduct, information security, Internet and e-mail usage and a host of other issues. One of the core objectives of Reliance Capital Asset Management Ltd. is to identify issues considered sensitive by global corporate standards, and implement policies/guidelines in conformity with the best practices as an ongoing process. Reliance Mutual Fund Schemes: Equity/Growth Schemes The aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities. Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time. Debt/Income Schemes The aim of income funds is to provide regular and steady income to investors. Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market instruments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The NAVs of such funds are affected because of change in interest rates in the country. If the interest rates fall, NAVs of such funds are likely to increase in the short run and vice versa. However, long term investors may not bother about these fluctuations. Sector Specific Schemes These are the funds/schemes which invest in the securities of only those sectors or industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds are dependent on the performance of the respective sectors/industries. While these funds may give higher returns, they are more risky compared to diversified funds. Investors need to keep a watch on the performance of those sectors/industries and must exit at an appropriate time. They may also seek advice of an expert. Exchange Traded Funds (ETFs) Exchange Traded Funds (ETFs) are usually passively managed mutual fund schemes tracking a benchmark index and reflect the performance of that index. These schemes are listed on the stock exchange and therefore have the flexibility of trading like a share on the stock exchange. It can also be looked as a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange, thus experiencing price changes throughout the day as it is bought and sold. Fixed Maturity Plans (FMPs) Fixed Maturity Plans (FMPs) are basically debt oriented investment schemes with a pre-specified tenure offered by mutual funds. FMPs invest in a portfolio of debt instruments whose maturity coincides with the maturity of the concerned FMP. The primary objective of a FMP is to generate income while aiming to protect the capital by investing in a portfolio of debt and money market securities. Since FMPs are available with several maturity options, one can invest in the relevant plan depending upon his investment horizon and the requirement of cash flows. Interval Fund / Fixed Maturity Plan Reliance Interval Fund (A Debt Oriented Interval Scheme): The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund Plan C (A close-ended scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A close-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Reliance Fixed Horizon Fund (A closed-ended income scheme): The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of Central and State Government securities and other fixed income/ debt securities normally maturing in line with the time profile of the plan with the objective of limiting interest rate volatility. Portfolio management services: Overview Reliance Portfolio Management Services is an exclusive offering from the portfolio management division of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd., Reliance Capital Asset Management Ltd. is also the investment manager for Reliance Mutual Fund schemes wherein it manages assets worth over Rs. 42,200 crores (as on Feb 28, 2007) Reliance Portfolio Management Services is a premium financial service, offering innovative exclusive products through discretionary advisory services. Our expertise has earned the trust of thousands of high net-worth individual/ institutional investors and created a family that is constantly growing. Reliance Portfolio Management Services can conduct your investments with true finesse coupled with passion and innovation. Reliance Portfolio Management Services is a part of Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd. Reliance Capital Ltd. is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services Organizational philosophy When it comes to managing investments what one needs is the fine harmony and the scale of an orchestra. Essentially, this translates to a special kind of skill that understands the finer nuances and appreciates the subtle notes. Only then can the instrumentation deliver a consistently enhanced performance. Now, you can get that kind of superior orchestration for your investment portfolio. Introducing Reliance Portfolio Management Services (Reliance PMS), a premium financial offering for select investors. An exclusive service, where a diligent team of talented professionals with diverse skill sets orchestrate your investments to deliver optimum returns. And a consistently laudable performance. Investmant philosophy A rich canvas of melodies.. At Reliance PMS you can expect a multitude of innovative investment options to serve varying investment objectives. The spectrum of asset classes traverses from the traditional asset classes, such as equities, fixed income or gold, to emerging ones, such as structured products or realty. Their Aim: To traverse the journey of your wealth creation with you by leveraging these asset options. They constantly endeavor to deliver competitive returns through a conservative and a diligent fund management framework, that is supported by rigorous analysis and a proven investment methodology The keynotes to perfection Minimizing Risks, Optimizing Gains All great scores being with a plan. To make beautiful music and surpass all expectations. Their strategy is quite similar. An increasing investor base is a reflection of the trust that investors repose in us, which we respect. Hence the safety of our investors assets is of utmost priority and this is the foundation of our investment philosophy. At Reliance PMS, they view every portfolio with the diligence of a musician composing a new score. Fine-tuning. Enhancing. Improving. Constantly working towards superior orchestration of your portfolio. Naturally, this is only possible if the foundation is sound. Strong investments, pure harmonies what we believe in Strong melodies call for a fine conductor. Reliance Portfolio Management Services can conduct your investments with utmost perfection. Our investment beliefs form the core of what we do. Our foundation is based on five key elements: Canvas, Concentration, Cash and Flexibility, Customisation and Customer Service. And it is with this rock solid base that we plan a fine crescendo for your investments Reliance PMS advantage: you As a Reliance PMS customer, we get a lot more than just superior portfolio management. We get the advantage of a solid and reputable track record backed by the expertise of a sound and stable investment team. Their philosophy lays considerable emphasis on an intensive research based, bottom-up, stock picking approach with a bias towards customizing the product offerings for our investors and business associates. They strongly believe that our investments should be adaptable enough to succeed in any market situation. Which is why our investment philosophy revolves around a solid bottom-up approach. So its true, when you invest with Reliance PMS, its certain that you will have all your investments in perfect sync. The composers score fund management Process All great scores begin with a plan. To make beautiful music and surpass all expectations. Their process is quite similar. All potential investment opportunities are subjected to extensive research, which includes analysis of various macro and micro economic indicators, related to specific sector company and or industry. This coupled with company visits and extensive interaction facilitates a data pool, which becomes the foundation of the process. Following are various services or investment schemes offered by Reliance Portfolio Management: 1). Absolute freedom option: This investment option is a highly flexible one with a very direct focus. To make the most of investment openings across a wide gamut of large cap, mid cap and small cap stocks. The aim of this product is to deliver positive absolute returns. It plans to do this by focusing on research based value investing to cover potentially investment-worthy companies. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 2). Large cap option: This portfolio model endeavors to generate capital appreciation by investing in companies drawn primarily from the Top 250 companies. These companies are ranked on the basis of market capitalization. The focus over here is on companies with a proven track record and a favorable medium to long-term outlook. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 3). Small Mid cap option: Capital appreciation through bottom up stock picking is of priority here with a special emphasis on the small and mid-cap space. Incisive and keen research is the backbone of this product. A dedicated research team will initiate portfolio building by discovering businesses that are relatively new and less tracked. Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 2 Crores 4). Concentrated option: The investment objective of concentrated option is to achieve long term capital appreciation from equity and equity related investments. This investment option endeavors to invest disproportionate corpus in large and mid cap high growth companies that would be able to compound wealth over medium to long term. Investment Time Horizon: 3 years more Minimum Investment Amount: Resident Indian: Resident Indian: INR 1 Crore Tranche 1: INR 50 Lacs Tranche 2: INR 25 Lacs* Tranche 3: INR 25 Lacs* Non Resident Indian: INR 1 Crores 5). Emerging sector opportunity option: The Trinity Option which is a part of Emerging Sector Opportunity Option shall invest in a combination of sectors in order to cater to specific investor requirements and market conditions. The Trinity Series will look at investment opportunities in Natural Resources, Infrastructure Capital Goods and Financial Services. The Trinity Series offer the investors an opportunity to be part of the emerging sectors which would be the engines of growth and key drivers of the Indian economy Investment Time Horizon: 3 years more Minimum Investment Amount : Resident Indian: INR 1 Crore Non Resident Indian: INR 1 Crores Fixed income schemes under portfolio management services: All Season Debt Shield Aggressive Returns Option: A highly flexible investment option, which offers a diversified investment portfolio across ratings and the yield curve. Fixed Maturity Option: A relatively protective investment option with investments predominantly locked for the duration of the scheme. In certain scenarios, there might be partial redemption allowed, without a significant impact on the portfolio returns. Liquidity Option: The underlying tone of this investment option is to essentially provide the investors with superior returns as compared to traditional open-ended money market schemes. Blended Debt Plus Best of Funds Option Under this option, investments shall be made in units of different mutual funds. This option is designed to achieve even greater diversification than traditional mutual funds. Structured products solution: Structured Products are Investment instruments that combine at least one derivative with assets such as equity and fixed income securities. Such products are fast emerging as an alternate asset class among HNI/ Institutional investors providing opportunities that capture potential upsides of the equity universe with capital protection. Customized solutions: At Reliance PMS believe in delivering more than what the customer expects, customized solutions are just a step towards it. Customized solutions are investments specially created to meet needs that cannot be met from the standardized financial instruments available in the market. Customized solutions capture the characteristics of traditional and nontraditional investments with financial instruments. The strategic combination of these components provides control and flexibility to address those investors whose investment objective is not met through traditional investments available. AMC (Asset Management Company) of Reliance Mutual fund: A company that invests its clients pooled fundinto securities that match its declared financial objectives. Asset management companies provide investors with more diversification and investing options than they would have by themselves. Mutual funds, hedge funds andpension plans are all run by asset management companies. These companies earn income by charging service fees to their clients. AMCs offer their clients more diversificationbecause they have a larger pool of resources than the individual investor.Pooling assets together and paying out proportional returns allows investors to avoid minimum investment requirements often required when purchasing securities on their own,as well as the ability toinvest in a larger set of securities with a smaller investment AMC has to discharge mainly three functions as under: Taking investment decisions and making investments of the funds through market dealer/brokers in the secondary market securities or directly in the primary capital market or money market instruments Realize fund position by taking account of all receivables and realizations, moving corporate actions involving declaration of dividends,etc to compensate investors for their investments in units; and Maintaining proper accounting and information for pricing the units and arriving at net asset value (NAV), the information about the listed schemes and the transactions of units in the secondary market. AMC has to feed back the trustees about its fund management operations and has to maintain a perfect information system. Structure of AMC: RCAM has been appointed as the Asset Management Company of Reliance Mutual Fund by The Trustee vide Investment Management Agreement (IMA) dated May 12, 1995 and executed between Reliance Capital Trustee Co. Limited and Reliance Capital Asset Management Ltd. and amended on August 12, 1997 in line with SEBI (Mutual Funds) Regulations, 1996). Reliance Capital Asset Management Ltd.(RCAM) is an unlisted Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, having its registered office at Reliance House, Near. Mardia Plaza, Off. C.G. Road, Ahmedabad, 380 006 and its Corporate Office at One Indiabulls Centre, Tower 1, Jupiter Mills Compound , 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400 013. Directors of the company include Amitabh Jhunjhunwala, a senior executive of ADAG. Amitabh Chaturvedi is the managing director of the AMC. As of end August 2006, Reliance mutual fund has Rs 28,753 crore of assets under management. Reliance Equity Fund, launched by Reliance MF in early 2006, is the largest mutual find scheme in the country with a fund size of over Rs 5,500 crore. The net worth of the Asset Management Company based on audited accounts as on March 31, 2009 is Rs. 841.32 Crore. Here is a list of mutual funds of Reliance which includes Debt/Income Funds , Equity Funds and Sector Specific Funds. Latest NAV Scheme Name NAV (Net Asset Value) Date Reliance Medium Term Fund-Retail Plan Growth Plan Bonus Option 13.4254 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Growth Plan Growth Option 18.7981 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Monthly Dividend Plan 10.3827 03-Dec-2009 Reliance Medium Term Fund-Retail Plan Quarterly Dividend Plan 10.8016 03-Dec-2009 Reliance NRI Income Fund-Dividend Plan-Dividend Option 11.8741 03-Dec-2009 Reliance NRI Income Fund-Growth Plan-Growth Option 11.8741 03-Dec-2009 Reliance Short Term Fund-Dividend Re-investment Plan 10.6417 03-Dec-2009 Reliance Short Term Fund-Growth Plan 17.1406 03-Dec-2009 Reliance Short Term Fund-Quarterly Dividend Plan 13.5299 03-Dec-2009 Reliance Banking Fund-Dividend Plan-Dividend Option 31.2926 03-Dec-2009 Reliance Banking Fund-Growth Plan-Bonus Option 78.4123 03-Dec-2009 Reliance Banking Fund-Growth Plan-Growth Option 78.4123 03-Dec-2009 Reliance Diversified Power Sector Fund-Dividend Plan-Dividend 47.6648 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Bonus 76.6486 03-Dec-2009 Reliance Diversified Power Sector Fund-Growth-Growth 76.6486 03-Dec-2009 Reliance Equity Fund-Dividend Plan-Dividend Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Bonus Option 15.1151 03-Dec-2009 Reliance Equity Fund-Growth Plan-Growth Option 15.1151 03-Dec-2009 Reliance Equity Opportunities Fund-Dividend Plan-Dividend Option 19.3456 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Bonus Option 27.3863 03-Dec-2009 Reliance Equity Opportunities Fund-Growth Plan-Growth Option 27.3863 03-Dec-2009 Reliance Growth Fund-Dividend Plan-(D) 53.3177 03-Dec-2009 Reliance Growth Fund-Growth Plan-Bonus Option 68.9535 03-Dec-2009 Reliance Growth Fund-Growth Plan-Growth Option 415.6732 03-Dec-2009 Reliance Media Entertainment Fund-Dividend Plan-Dividend Option 18.0409 03-Dec-2009 Reliance Media Entertainment Fund-Growth Plan-Bonus Option 25.0919 03-Dec-2009 Reliance Media Entertainment Fund-Growth Plan-Growth Option 25.0919 03-Dec-2009 Reliance NRI Equity Fund-Dividend Plan-Dividend Option 20.382 03-Dec-2009 Reliance NRI Equity Fund-Growth Plan-Bonus Option 34.2542 03-Dec-2009 Reliance NRI Equity Fund-Growth Plan-Growth Option 34.2542 03-Dec-2009 Reliance Pharma Fund-Dividend-Dividend 31.2834 03-Dec-2009 Reliance Pharma Fund-Growth Plan-Bonus 41.9474 03-Dec-2009 Reliance Pharma Fund-Growth Plan-Growth 41.9474 03-Dec-2009 Reliance Regular Savings Fund-DEBT OPTION -Growth Option 12.4072 03-Dec-2009 Reliance Regular Savings Fund-EQUITY OPTION-Growth Option 27.3386 03-Dec-2009 Reliance Regular Savings Fund-BALANCED OPTION-Growth Option 18.9998 03-Dec-2009 Reliance Vision Fund-DIVIDEND PLAN-D 42.6779 03-Dec-2009 Reliance Vision Fund-GROWTH PLAN-Bonus Option 41.431 03-Dec-2009 Reliance Vision Fund-GROWTH PLAN-Growth Option 246.6464 03-Dec-2009 Reliance Liquidity Fund-Bonus Plan-Bonus Option 5-Jan-2006 Reliance Liquidity Fund-Dividend Plan-Daily Dividend Reinvestment 10.0031 03-Dec-2009 Reliance Liquidity Fund-Dividend Plan-Monthly Dividend Plan 13.6835 03-Dec-2009 Reliance Liquidity Fund-Dividend Plan-Weekly Dividend Reinvesment 10.0086 03-Dec-2009 Reliance Liquidity Fund-Growth Plan-Growth Option 13.6835 03-Dec-2009 Reliance Tax Saver (ELSS) Fund-Dividend Plan-Dividend Option 13.6406 03-Dec-2009 Reliance Tax Saver (ELSS) Fund-Growth Plan-Growth Option 17.4974 03-Dec-2009 Reliance Gold Exchange Traded Fund-Dividend Payout Option 1752.9959 03-Dec-2009 Working of AMC: RCAM has been registered as a Portfolio Manager vide SEBI Registration No. INP000000423 and renewed effective 1st August, 2006. Investment Management, also known as Asset Management is simply the managing of clients money. Investment Management is known as the other side of the finance business. They are the buy side. Unlike, Investment Bankers, who create stocks and bonds for others to buy, investment managers buy the stocks and bonds for clients in attempts to produce maximum growth. Investment Bankers advise and inform managers of new stocks or bonds being issued along with the research behind the companies or institutions offering the stocks. The manager then decides whether to buy or not from the investment banker. The investment banker gets a commission for carrying out the trade of stock or bond. The investment manager gets paid based on the amount of money he is managing for a client but gets paid whether or not he gains or loses money. Asset Management companies typically look for investment bankers because they have quantitative analysis skills, which are necessary to evaluate companies. Management consultants are also valued because they are able to quickly immerse themselves and get to know a given industry. The AMC has also been rendering advisory services in respect of Emergent India Investment Limited, an offshore fund for investment in India. RCAM has commenced these activities. It has been ensured that key personnel of the AMC, the systems, back office, bank and securities accounts are segregated activity wise and there exists systems to prohibit access to inside information of various activities. As per SEBI Regulations, it will further ensure that AMC meets the capital adequacy requirements, if any, separately for each such activity. However, there is no conflict of interest between various business activities carried on by Asset Management Company. RELIANCE EQUITY FUND-GROWTH: Reliance Equity Fund is an Open-Ended Equity Growth Scheme. Reliance Equity Fund is an aggressive diversified equity scheme Reliance Equity Fund is to seek to generate capital appreciation and provide long term growth opportunities by investing in a portfolio constituted of equity securities and equity related securities. The fund has a high portfolio turnover ratio. It has Instrument type such as Equity Equity related Instruments and Debt Money Market Instruments. INTRODUCTION OF ICICI PRUDENTIAL MUTUAL FUND: An overview of ICICI Prudential Mutual Fund: ICICI Prudential Mutual Fund was set up in May, 1998 and it has the parentage of ICICI Bank as well as of Prudential plc. ICICI Prudential Mutual Fund has attained an important position in the Mutual Fund industry in India. This mutual fund company has started a large number of schemes so that it can meet the different investment needs of its investors. The total assets under the management of ICICI Prudential Asset Management Co. Ltd. came to around Rs. 160 crores in May 1998. The total number of funds that ICICI Prudential Mutual Fund managed in December, 2007 was 35 and the total assets under its management stood at about Rs. 56,820.11 crores. Key Information Mutual Fund ICICI Prudential Mutual Fund Setup Date Oct-13-1993 Incorporation Date Jun-22-1993 Sponsor Prudential Plc and ICICI Bank Ltd. Trustee ICICI Prudential Trust Ltd. Chairman Mr. K. V. Kamath CEO / MD Mr. Nimesh Shah CIO Mr. Nilesh Shah Compliance Officer Mr. Ranganath Athreya Investor Service Officer Ms. Kamaljeet Saini Assets Managed Rs. 82138.97 crore (Nov-30-2009) Other Details Auditors M/s N. M. Raiji Company Custodians HDFC Bank Limited Registrars Computer Age Management Services Pvt. Ltd. AMC ICICI Prudential Asset Management Co. Ltd. Objective The Scheme seeks to generate regular returns through investments made in Gilts. Asset (Rs 84.22 crore)( October 31, 2009) Various schemes launched by ICICI Prudential Mutual Fund are: ICICI Prudential Liquid Plan ICICI Prudential Long Term ICICI Prudential GILT Fund- Investment Option ICICI Prudential Flexible Income Plan ICICI Prudential Child Care Plan ICICI Prudential Monthly Income Plan ICICI Prudential Growth Plan ICICI Prudential Discovery Fund ICICI Prudential Infrastructure Fund Major locations of the branch offices of ICICI Prudential Mutual Fund are: Chandigarh Ahmadabad Chennai Goa Cuttack Bhubaneswar Guwahati Fund Facts We are unique and thats why whats right for someone else may not be right for us. So is the case with our investment needs. As an investor we could be very cautious or very aggressive or someone who would like to maintain a balance ICICI Prudential Mutual Fund, understand this reality and therefore to meet the investment needs of different kinds of investors we offer a range of solutions that enable them to create a portfolio of the tenor, return and risk that they desire. On the debt market side, from simple parking solutions for efficient utilization of each rupee for each day, to long term interest rate view-based products, their range spans varying time horizons and incomes. Their debt products are managed to minimize liquidity credit risks and also manage interest rate risks. They come with periodic dividend and growth options to enable you to choose your income streams in a manner most efficient for your needs. On the equity market side, their equity funds offer a choice of size, sectors, themes and styles to enable participation in the broad market and its segments. The chart below plots schemes offered by ICICI Prudential Mutual Fund on a risk-return scale that helps you zero-in on the relevant schemes that match your risk taking ability and the returns you ICICI Prudential Long Term Floating Rate Plan Much as we may dislike it, interest rates change constantly in response to changes in the underlying fundamentals. Every change in interest rates impacts the value of our fixed income portfolio i.e increase in rates reduces the value of what we hold, and vice versa. If interest rates on instruments in the portfolio keep getting reset according to the prevailing market rates, we may be able to focus on the interest income, without undue worry about its impact on our portfolio value. ICICI Prudential Long Term Floating Rate Plan enables such a focus on interest rates, creating a portfolio that responds to these changes and minimizes their impact. ICICI Prudential Long Term Floating Rate Plan further extends this benefit by tapping into products whose interest rates are benchmarked to longer term rates. Investment Philosophy ICICI Prudential Long Term Floating Rate Plan is a debt fund that invests predominantly in debt securities with a floating rate of interest. The majority of floating rate instruments in the portfolio are benchmarked to the 1 year INBNK rate and the rest are benchmarked to a short term rate like the Mibor with resets taking place at 3 month / 6 month intervals. This also ensures that the portfolio has limited interest rate risk. The portfolio also invests in fixed rate securities, but spreads out its investments such that parts of the portfolio mature regularly, enabling redeployment at newer rates. The portfolio also uses the interest rate swap market to swap fixed rates for floating rates. During times of increases in interest rates, the Plan enables focus on the interest income, rather than losses in portfolio value. Benefits ICICI Prudential Long Term Floating Rate Plan offers the following key benefits: Focus on accrual income that derives from floating rate instruments. Reduced interest rate risk of longer term instruments. Performance See performance for the fund in the graph below: Investor Profile Investors who believe that interest rates in the short to medium term could increase. Investors who prefer floating rate interest income, over gains / losses from changes in portfolio value This fund is ideal for: ICICI Prudential Income Plan Our need to keep some money in fixed return instruments stems from a need to earn regular income, or from an aversion to risk. ICICI Prudential Income Plan is for those investors who seek to deploy part of their funds in fixed income products as a conscious investment option. The fund enables you to earn a total return-made up of both interest income and changes in the value of capital, a facility that comes only with debt funds that do not restrict themselves to generating merely interest income. As market interest rates change, the value of your portfolio also changes, creating a total return portfolio in debt securities. Benefits: ICICI Prudential Income Plan offers the following key benefits: Strategic deployment of funds in the debt markets as part of an overall asset allocation to fixed income securities. Participation in markets that are large and institution-dominated. Potential to earn total return from both interest and capital gains, with the attendant risks of capital loss as well. See performance for the fund in the graph below: Investor Profile This fund is ideal for: Investors seeking exposure to long term debt markets. Investors seeking to earn total return rather than interest income alone. Investors seeking to participate in a portfolio of debt securities over the long term. ICICI Prudential Child Care Plan Give Your Child the license to dream Our child wants to be a surgeon one day, an astronaut the next day and may be a fashion designer the day after. So small yet children dream so big, even if the dream changes every day. Education, however, is fast becoming a very expensive proposition for which you need to start planning from today. Even as your child takes off on his/her flights of fancy, you need to be firmly rooted on the ground, managing your financial resources so as to give your child the best education. ICICI Prudential Child Care Plan is an investment instrument specially designed to help you give your child a head start in life. It offers two options Gift and Study, for the differing needs of parents with children in differing age groups. Gift Option (Suitable if your child is in age group of 1-13 years.) Study Option (Suitable if your child is in age group of 13-17 years.) Investment Philosophy This plan normally invests 65-100% of your money in equity and equity related securities. The other 0-35% is normally invested in debt securities to seek stability to your investments. Debt Equity ICICI Prudential Child Care Plan Gift offers the following key benefits: Scholarship Program: We have specially designed a scholarship programme to provide financial assistance to deserving and meritorious students to pursue their higher education. Personal Accident Cover (for resident applicants): Till your child attains the age of 18 or till units are redeemed (whichever is earlier), you as her parent / legal guardian will be eligible for a Personal Accident Cover equivalent to 10 times the value of the Units you have purchased (value at purchase price) subject to a maximum of limit of Rs. 5 lakhs See performance for the fund in the graph below: This fund is ideal for: Consider this plan if your child is in the age group of 1-13 years and you are looking to save over a long term horizon ICICI Prudential FMCG Fund It is not always the case that we like our investments to be diversified across sectors. There are times when we believe that a particular sector might do better than the others, and therefore choose to increase your exposure to that sector. Sector funds enable spiking a diversified portfolio with sharper sectoral focus, as a strategic means to managing their asset allocation. ICICI Prudential FMCG Fund is a diversified sector fund that invests in companies which are benefiting from the consumption boom in the Indian economy. Investment Philosophy ICICI Prudential FMCG Fund is an open-ended equity fund, that predominantly invests in companies with a retail and consumption focus. The portfolio is made up of fewer number of scrips, chosen to reflect the prospects of the FMCG sector. Within the broad definition of the sector, scrips are held across sub sectors like food, retail distribution, apparel, and consumables. A smaller allocation to other sectors is permitted, purely for defensive considerations. The fund adopts a bottom-up stock selection strategy to choose its investments. Benefits ICICI Prudential FMCG Fund offers the following key benefits: Enables the investor to allocate his equity assets according to his sectoral preferences and use the fund to implement his views on the sector. The fund also enables investors to diversify in terms of style into sharply focused thematic fund investing in FMCG sector. See performance for the fund in the graph below: Investor Profile This fund is ideal for: Investors who like to sacrifice some diversification, in the interest of pursuing a sector strategy. Investors who view the fund in the context of their existing portfolio, rather than choose the fund as a stand alone product. Investors who prefer the FMCG sector for their investments. Systematic investing: One of the simplest and most sensible ways of investing, especially when you are just starting off on your Investment journey is to use the Systematic Investing Option. ICICI Prudential Mutual Fund allows you to invest systematically through the following 3 different systematic investing options which allow you to make your transactions whether purchasing a new fund, transferring between funds or redeeming from a fund in a systematic and disciplined manner. 1. ICICI Prudential Systematic Investment Plan (ICICI Prudential SIP) ICICI Prudential SIP allows you to make your investments in periodic installments instead of a lump sum amount. This has the following advantages: It helps you start small, with as low as Rs. 1000 per month. It helps you reduce the risk of mistiming the market. It helps you buy more units when the market is down and fewer units when the market is up. Thus reducing the cost of entry. 2. ICICI Prudential Systematic Transfer Plan (ICICI Prudential STP) ICICI Prudential STP allows you to make a lump sum investment in a money-market or a debt oriented ICICI Prudential Scheme and subsequently transfer partial amounts to any equity oriented ICICI Prudential Scheme at regular intervals. This way your money continues to earn while it waits to be fully deployed in the equity scheme of your choice. You can choose from three frequencies(weekly, monthly and quarterly) if you wish to transfer your investments from one scheme to another. 3. ICICI Prudential Systematic Withdrawal Plan (ICICI Prudential SWP) ICICI Prudential SWP operates like the reverse of ICICI Prudential SIP. It allows you to systematically withdraw your existing investment in a ICICI Prudential Mutual Fund scheme by redeeming your units in periodic installments instead of all at one go. As in the case of the SIP, this helps you reduce your risk of mistiming your exit from a particular scheme. Portfolio management services: ICICI Prudential Portfolio Managers, a division of ICICI Prudential Asset Management Company, is created especially to meet the investment needs of a select clientele who require focused portfolios. As Portfolio Managers, they endeavor that every portfolio created by them reflects the values on which ICICI Prudential has been built. A commitment towards transparency and service. Add to that, a strong research driven investment process. Since the aim is to create a portfolio that suits our requirements, they will first try and understand our needs and investment objectives and on that basis offer us portfolios that best suit our objectives. Information and accessibility is the key By providing us with information that is updated on a daily basis and unmatched interactivity, a whole new era in portfolio management has now been ushered in. A first in the industry; via a password protected website, we will have access to : A portfolio disclosure statement where the entire portfolio will be disclosed. A financial summary comprising the Income Statement and Balance Sheet. A detailed client account statement that allows you to track your inflows and outflows. A transaction statement listing all the transactions made. Calculations of capital gains Comprehensive performance tracking Convenience and customization through their services: One more advantage of being with them is that we will have a team to support us. Initially, we will interface with a Customer Relationship Manager your one point contact, and a personal Portfolio Manager our portfolio investment guide, to discuss in depth and understand our investment objectives, our risk-return appetite and establish required service levels. On the basis of this, they shall evolve a portfolio that is best-suited for us. Thereafter, their Customer Relationship Manager will periodically interact with us for any other clarifications and services that may require. Product Range: Aggressive Portfolio This portfolio is aimed at investors who are looking for higher returns. The portfolio is constructed with a value-orientation and with adequate diversification, but which will at times take on certain aggressive positions. Depending on the market conditions these could include a greater exposure to high beta / mid-cap / illiquid stocks, an exposure in momentum stocks etc. Dividend Yield Portfolio This portfolio endeavours to generate superior risk-adjusted returns through a combination of dividend income and capital appreciation. This portfolio may be considered appropriate for investors with a relatively low risk appetite, who wish to earn potentially higher returns, offered through the equity markets. It is also suitable for investors looking for tax-efficient investment options that offer the scope for high-returns. Investments are proposed to be made primarily in stocks that offer an attractive dividend yield. Portfolio Manager seeks to pay particular attention to the dividend track record, sustainability of free cash flows / dividends, industry prospects, management quality, business fundamentals etc., with an attempt to include only high-quality companies in the portfolio. Deep Value Portfolio The objective of the portfolio is to generate returns over the long term, by investing in a diversified portfolio of undervalued stocks. Various parameters may be used to judge the degree of under valuation of the stocks including, but not limited to, price/earnings (p/e), price/book (p/book), dividend yield (DY), price/cash flow, replacement cost, valuations relative to history/sector/markets, etc. Due attention will be paid to qualitative parameters such as management quality, industry prospects, liquidity etc. The Focused Portfolio The Focused Portfolio endeavours to generate capital appreciation by taking concentrated positions in stocks and sectors. Greater concentration of the portfolio will increase both the risks and potential returns from the portfolio. The Focused Portfolio is not limited by any particular theme / sector / market capitalization and has the flexibility to choose between stocks across themes / sectors / investment styles Preservation of Investment Amount (Asset Shield) In addition to the above portfolios, the Portfolio Manager also offers products to meet specific objectives such as products endeavouring to preserve Investment Amount. Portfolio Manager would endeavour preservation of a certain percentage of the Investment Amount by investing in a mix of fixed income andequity derivatives (these could include both call and put options on indices or individual stocks) in such a manner so that the same endeavours to preserve the stated percentage of the Investment Amount while attempting to enhance returns by the use of equity derivatives. Arbitrage opportunities between the cash and futures market may also be undertaken (more specifically described in the section below) as part of the fixed income component. Herein the portfolio is invested in a mix of fixed income mutual funds / securities and equity derivatives in such a manner so that the same endeavours to preserve the stated percentage of the Investment Amount while at the same time an attempt w ould be made to enhance returns by the use of equity derivatives. Infrastructure Portfolio The infrastructure portfolio will invest in companies that are directly or indirectly linked to the infrastructure theme. This could include sectors such as construction, capital goods, power, cement, metals, banking, logistics and other related sectors/sub-sectors. Diversified Portfolio The portfolio will have a defined tenure. The Portfolio Manager has discretion to invest in a combination of different asset classes including but not limited to listed equities, equity related instruments, or other unlisted securities/instruments (private equity) including but not limited to units issued by SEBI Registered Venture Capital Funds and money market instruments. The terms of tenure of the product, subscription and redemption etc. will be as per the agreement executed with the Investor. AMC (Asset Management Company) of ICICI PRUDENTIAL MUTUAL FUND: ICICI Prudential Mutual Funds Asset Management Company (AMC) is ICICI Prudential Asset Management Co. Ltd. ICICI Prudential Asset Management Company, a joint venture between Prudential, U.K.s leading insurance company and ICICI Bank Ltd., Indias largest private sector bank, is the investment manager for ICICI Prudential Mutual Fund. ICICI Prudential Mutual Fund is the largest and amongst the fastest growing mutual funds in the country with a rapidly growing family of over 14.50 lakh investors. The objective of ICICI Prudential Asset Management Co. Ltd. is to provide distribution of income and also capital appreciation to the shareholders by investing mainly in equity that is related to the shares of the companies that belong to the development of infrastructure and the rest in debt shares and instruments of money market that includes call money. The total asset of ICICI Prudential Asset Management Co. Ltd amounted to Rs. 4783.65 crores as on 31st December. Prudential Plc holds 55 per cent of the asset management company and the balance by ICICI Bank. In a span of just over six years, Prudential ICICI Asset Management Company has emerged as one of the largest asset management companies in the country. The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors spread across 68 cities in the country. The management is headed by Pankaj Razdan, managing director and the fund management team is headed by Nilesh Shah, chief investment officer. Here is a list of mutual funds of Prudential ICICI which includes Equity Funds, Balanced Funds and Debt Fund: Latest NAV Scheme Name NAV (Net Asset Value) Date ICICI Prudential Child Care -Study Plan 25.4292 04-Dec-2009 ICICI Prudential Child Care- Gift Plan 47.40 04-Dec-2009 ICICI Prudential Flexible Income Plan Premium-Daily Dividend Plan 105.7350 04-Dec-2009 ICICI Prudential Flexible Income Plan Premium-Weekly Dividend Plan 105.4473 04-Dec-2009 ICICI Prudential Flexible Income Plan Premium-Growth 168.7494 04-Dec-2009 ICICI Prudential Gilt Fund Investment Plan PF Option 18.1512 04-Dec-2009 ICICI Prudential MIP-Cumulative 23.7857 04-Dec-2009 ICICI Prudential MIP-Dividend-Half Yearly 12.3215 04-Dec-2009 ICICI Prudential MIP-Dividend-Monthly 11.4345 04-Dec-2009 ICICI Prudential MIP-Dividend-Quarterly 12.2172 04-Dec-2009 ICICI Prudential Services Industries Fund-Dividend Plan 11.66 04-Dec-2009 ICICI Prudential Services Industries Fund-Growth Plan 15.50 04-Dec-2009 ICICI Prudential Discovery Fund Institutional Option I Growth 17.13 04-Dec-2009 ICICI Prudential Discovery Fund-DIVIDEND OPTION 19.20 04-Dec-2009 ICICI Prudential Discovery Fund-GROWTH OPTION 38.90 04-Dec-2009 ICICI Prudential Dynamic Plan-Dividend Option 17.8967 04-Dec-2009 ICICI Prudential Dynamic Plan-Growth Option 88.6655 04-Dec-2009 ICICI Prudential Dynamic Plan-Institutional Option I 13.7599 04-Dec-2009 ICICI Prudential Emerging Star Fund Institutional Option I 11.65 04-Dec-2009 ICICI Prudential Emerging Star Fund-Dividend 15.78 04-Dec-2009 ICICI Prudential Emerging Star Fund-Growth 28.87 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Income Optimiser Plan-Institutional Dividend Option 10.49 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Income Optimiser Plan-Institutional Growth Option 12.60 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Income Optimiser Plan-Retail Dividend Option 10.39 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Income Optimiser Plan-Retail Growth Option 12.50 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Wealth Optimiser Plan-Retail Dividend Option 11.44 04-Dec-2009 ICICI Prudential Equity Derivatives Fund-Wealth Optimiser Plan-Retail Growth Option 12.07 04-Dec-2009 ICICI Prudential FMCG Plan-Dividend Option 31.17 04-Dec-2009 ICICI Prudential FMCG Plan-Growth Option 52.32 04-Dec-2009 ICICI Prudential Growth Plan- Institutional Option I Growth 16.61 04-Dec-2009 ICICI Prudential Growth Plan-Dividend Option 19.58 04-Dec-2009 ICICI Prudential Growth Plan-Growth Option 119.60 04-Dec-2009 ICICI Prudential Index Fund 47.1625 04-Dec-2009 Comparative study of Reliance and ICICI Prudential Mutual Fund: Both the mutual funds are Indias top most mutual funds in India. Both of them have a large market share in Indian mutual fund industry. But if we compare both of them then Reliance have the more market share then ICICI Prudential mutual fund. It can be shown with the following chart which on the basis of their market share: Now from the above it is very clear that Reliance mutual fund has 16.39 % market share whereas ICICI prudential has only 9.83 % market share. And after such largest market share, Reliance mutual fund has become the top most mutual funds in Indian industry. In March, 2006, the Reliance mutual fund emerged as the largest private sector fund house in the country, overtaking Prudential ICICI which has been holding that position for many years. We can also compare them on the basis of NAV of last 5 years and give them ranks which can be shown as follows: Top 10 Funds -Period(Last 5 Years) Rank Scheme Name Date NAV (Rs.) Last 5 Years % 1 Reliance Diversified Power Sector Fund Growth Dec 4 , 2009 76.5693 45.6041 2 Reliance Growth Growth Dec 4 , 2009 414.8059 32.7926 3 SBI Magnum Tax Gain Scheme 93 Growth Dec 4 , 2009 56.59 32.7603 4 SBI Magnum Sector Umbrella Contra Fund Growth Dec 4 , 2009 54.47 32.754 5 Sundaram BNP Paribas Select Midcap Growth Dec 4 , 2009 132.0091 32.5712 6 SBI Magnum Multiplier Plus 93 Growth Dec 4 , 2009 73.28 30.2626 7 Reliance Banking Fund Growth Dec 4 , 2009 77.7619 30.2353 8 HDFC Equity Fund Growth Dec 4 , 2009 229.298 30.1271 9 HDFC Top 200 Growth Dec 4 , 2009 178.938 29.8821 10 ICICI Prudential Dynamic Plan Growth Dec 4 , 2009 88.6655 29.6373 According to this ranking also reliance stood in the first position in terms of net asset value with the total value worth Rs. 414.8059. Now if we talk about their schemes, both of them have the different investment schemes for different purposes like growth, fixed income etc. Like I have earlier shown the chart of ICICI schemes which is as follows: And Reliance has basically following schemes: Sector Specific Schemes Debt/Income Schemes Equity/Growth Schemes Fixed Maturity Plans (FMPs) On the other hand we can also compare them on the following basis: Top of Form Bottom of Form SnapShot Performance Risk Volatility Investment Details NAV Details Fund Name Launch Date Category Rating Risk Grade Return Grade 1 Year Return Expense Ratio ICICI Prudential Growth 1998-06Jun-1998 Equity-Diversified 3 Star below Average Average 86.64 2.33 Reliance Growth 1995-10Oct-1995 Equity-Diversified 5 Star Average Above Average 111.72 1.81 Fund Name 1-Month Return (%) 1-Month Rank 6-Month Return (%) 6-Month Rank 1-Year Return (%) 1-Year Rank 3-Year Return (%) 3-Year Rank 5-Year Return (%) 5-Year Rank ICICI Prudential Growth 10.68 187 19.08 145 86.64 162 8.49 85 24.50 38 Reliance Growth 13.49 55 24.27 84 111.72 59 16.66 15 32.89 1 Fund Name NAV As on Chg. from previous 52 Weeks High As on 52 Weeks Low As On ICICI Pru Growth-G 120.03 Dec 3, 2009 0.04 120.17 Dec 1, 2009 63.32 Mar 9, 2009 Reliance Growth-G 415.67 Dec 3, 2009 2.91 415.67 Dec 3, 2009 183.38 Mar 9, 2009 Conclusion: So from the above we can conclude that a Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. Mutual Fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document. The main objective of mutual funds is to provide an opportunity for lower income groups to acquire without much difficulty, property in the form of shares. And as I already told that Reliance mutual fund and ICICI Prudential mutual fund both are growing at a very fast pace. And both are contributing a lot in the Indian financial sector and to the Indian economy. But Reliance mutual fund is growing at a more rate than ICICI Prudential mutual fund.