Save

Spend

What do you do
with your money?

Invest
Do not save what is left after spending,
But spend what is left after saving.

Warren Buffett
What's wrong with
just saving?

Inflation
eats up your savings over time!
 Impact of Inflation

Impact of Inflation on expenses Impact of Inflation on savings

₹ 80,000

₹ 1,00,000
₹ 60,000

₹ 80,000
₹ 40,000

₹ 50,000
₹ 1,00,000
₹ 30,000

₹ 35,000
₹ 80,000

Today 5 Years 15 Years 20 Years Today 5 Years 15 Years 20 Years

Impact of 5% yearly inflation on expenses Impact of 5% yearly inflation on Savings

Disclaimer: For illustration purpose only | Assumed rate of inflation as 5%

Solution?
Investing - the safeguard against inflation

Start Saving … Progress from ‘Saving’ Put money to work rather than
the earlier you start, the better to ‘Investing’ accumulating or keeping it idle

You work hard to earn money … Benefit from the

So, make the money work hard Power of Compounding
for you

A comprehensive financial plan can help you plan your investments efficiently
What is Financial Planning?
Financial Planning is the practice of assessing one’s current financial situation and drawing a financial plan to
reach future life-stage goals.

Steps of financial planning

Monitor, review
and modify the
financial plan if
required
Invest
accordingly

Create asset
allocation and
evaluate risk
Assess current
financial
situation
Define
financial goals
Why is Financial Planning important?

To reach financial goals faster & To enhance your standard of living To prepare for financial emergencies
in a disciplined manner
Saving and investing according to a Keeping aside a contingency fund can
Investing systematically can help you financial plan can help you live a protect your financial being during a
stay focused on the goal sustainable standard of living. crisis situation

To manage and save taxes efficiently To enjoy peace of mind

Financial planning helps you invest in tax-saving A financial plan manages your money efficiently
instruments which are aligned with your goals and and thereby helps you enjoy peace of mind.
asset allocation
Never depend on single income.
Make investment to create a second source.

Warren Buffett
Investing in the right asset can help create
wealth in the long term
Returns generated by investment in stock market over different tenures

Sensex (CAGR %)

18.0 16.8

16.0 15.5
14.5 14.4
14.0
12.2 12.2
12.0 11.2
10.4
10.0

8.0

6.0

4.0

2.0

0.0
5 10 15 20 25 30 35 40

Tenure (years)

Source: ACE MF | CAGR returns are as on 30th September, 2024| Returns are calculated in a way that the investment period for every tenure is ending on 30 th September 2024.
For example, the investment period for five-years returns is 30th September 2019 to 30th September 2024; the investment period for ten-years is 30th September 2014 to 30th
September 2024 and so on | Past performance may or may not guarantee future performance
Investing for long-term can prove to be beneficial

S&P BSE SENSEX

Growth over the years
100000

90000

80000

70000

60000

50000

40000

30000

20000

10000

0
1979 1984 1989 1994 1999 2004 2009 2014 2019 2024

Performance

Source: ACE MF | Past performance may or may not guarantee future performance | Data as on 30 th September 2024
Determine
What are you
Investing for?

Goal based investing

Always invest in assets

with your specific financial
goal in mind
What are the
various options?

Gold Stocks Bonds

Mutual Funds

Property Insurance Bank

Deposits
Make your
investments
work for you Fight inflation for you

Provide income when you need it

Your Investments Be accessible & usable in parts and portions

should
Grow in value and appreciate over time

Be realizable at fair value and low cost

Proper Asset allocation is the answer

What is Asset
Allocation ?

Asset Allocation
is like a balanced thali …
Asset Allocation should match your financial planning/goals
Investment that can Investment that can
Grow in Value Generate Income

Property Gold Bonds NSC/KVP

Art Collection Equity Shares PPF Bank / Company

Mutual Funds
Deposits

Are you investing in the right assets?

Mutual Funds
What is a Mutual Fund?

A mutual fund is a financial vehicle (scheme) that collects Mutual Funds are managed by fund managers, who
money from many investors and invests it in securities such have the expertise in studying the financial markets.
as stocks, bonds, debentures etc.

Anybody with an investible surplus of as little as a few Mutual Fund investment gives the market returns and
hundred rupees can invest in Mutual Funds not assured returns

Investment in Mutual Funds is the most cost-efficient In the long term, market returns have the potential to
as it offers the lowest charge to the investor perform better than other assured return products

Assured returns is an interest or return on money invested by an investor at an agreed rate.

 Investors

Delivered to Pool their

money

How does a
Mutual Fund
work?
Returns Fund Manager
Helps
Invest in
generate

Stocks / Securities
 Professional
Management

Why invest in Low Cost Transparency

Mutual Funds?
Risk
Diversification
Convenient
(Invest Small Liquidity
Amounts)

Well-Regulated
By SEBI
Mutual Fund
Structure & Scheme Categories
Structure of Mutual Fund at a glance …

Execute a Trust Deed to form a trust

Sponsor Trustee

Mutual Fund is established as a Trust under Indian Trust Act, 1882

Investment Management & Asset Management

Investors Mutual Fund
Day-to day Operations Company

Custodian

Agents/ Fund Registrar & Transfer

Bankers
Distributors Accountants Agency
Types of Mutual Funds

Organizational Management Investment Investment Other Fund

Structure of Portfolio Objective portfolio Types

• Open ended Funds • Active Funds • Growth Funds • Equity Funds • Exchange Traded
• Funds (ETF)
• Close ended Funds • Passive Funds • Income Funds • Debt Funds
• Gold ETF
• Interval Funds • Hybrid Funds • Hybrid Funds • ELSS

• Liquid Funds • Retirement /

• Pension Scheme
• Overseas Funds
• Fund of Funds
Categorization of Mutual Fund Schemes
As per SEBI guidelines on Categorization and Rationalization of schemes issued in October 2017,
mutual fund schemes are classified as:

Equity Schemes Debt Schemes Hybrid Schemes

Solution Oriented Schemes – Other Schemes – Index Funds &

For Retirement and Children ETFs and Fund of Funds

• Under Equity category, Large, Mid and Small cap stocks have now been defined.

• Naming convention of the schemes, especially debt schemes, as per the risk level of underlying portfolio (e.g., Credit
Opportunity Fund is now called Credit Risk Fund)

• Balanced / Hybrid funds are further categorised into conservative hybrid fund, balanced hybrid fund and aggressive hybrid
fund etc
Equity
schemes
Equity Funds

Invest in equities and Seek growth in the long Suitable for investors with
equity related instruments term, can be volatile in higher risk appetite and
of companies the short term longer investment horizon
Equity Fund Categories

Multi Cap Fund* Large Cap Fund Large & Mid Cap Fund
At least 65% investment in equity & equity At least 80% investment in equity & equity At least 35% investment in large cap
related instruments related instruments stocks and 35% in mid cap stocks

Mid Cap Fund Small cap Fund Flexi Cap Fund

At least 65% investment in mid cap stocks At least 65% investment in small cap stocks An open ended dynamic equity
scheme investing across large cap,
mid cap, small cap stocks

* Also referred to as Diversified Equity Funds

Equity Fund Categories

Dividend Yield Fund Value Fund Contra Fund

Predominantly invest in dividend yielding Value investment strategy, with at least Scheme follows contrarian investment
stocks, with at least 65% in stocks 65% in stocks strategy with at least 65% in stocks

Focused Fund Sectoral/ Thematic Fund ELSS

Focused on the number of stocks At least 80% investment in stocks of a At least 80% in stocks in accordance with
(maximum 30) with at least 65% in equity particular sector/ theme Equity Linked Saving Scheme, 2005,
& equity related instruments notified by Ministry of Finance
Equity Linked Savings Scheme (ELSS)

Deduction from taxable Invests predominantly in Shortest lock-in period of 3

income of up to equity and helps generate years, as compared to other
Rs.1,50,000 under Sec 80C market-linked returns tax-saving options

Tax benefits are subject to the provisions of the Income Tax Act, 1961 and are subject to amendments from time to time. | Investments of up to Rs 1.5 lakhs done
in ELSS Mutual Funds in a financial year are eligible for tax deduction u/s 80C. It translates into a tax saving of up to Rs 46,800 in a financial year.
Debt schemes
Debt Funds

Invest in different types Aim to earn interest income Suitable for investors
of fixed income securities and capital appreciation seeking returns with low
or moderate risk
Types of debt funds

* Dynamic Bond Fund and Gilt Funds are suitable across duration | # Duration of securities in Credit Risk Fund is strategic and not pre-determined
Debt Fund Categories

Overnight Fund Liquid Fund Ultra Short Duration Fund

Overnight securities/ Securities Debt and money market securities with Securities with Macaulay duration of the
having maturity of 1 day maturity of upto 91 days only portfolio between 3 months - 6 months

Low Duration Fund Money Market Fund Short Duration Fund

Securities with Macaulay duration of the Money Market instruments having Securities with Macaulay duration of the
portfolio between 6 months - 12 months maturity upto 1 Year portfolio between 1 year- 3 years

Medium duration fund Medium to long duration fund

Securities with Macaulay duration of the Securities with Macaulay duration of the
portfolio between 3 year- 4 years portfolio between 4 year- 7 years
Debt Fund Categories

Long Duration Fund Dynamic Bond Corporate Bond Fund

Securities with Macaulay duration of Securities across duration Minimum 80% investment in corporate bonds
the portfolio greater than 7 years only in AA+ and above rated corporate bonds

Credit Risk Fund Banking and PSU Fund Gilt Fund

Minimum 65% investment in corporate bonds, Minimum 80% in Debt instruments of banks, Minimum 80% in G-secs, across maturity
only in AA and below rated corporate bonds Public Sector Undertakings, Public Financial
Institutions and Municipal Bonds

Gilt Fund with 10 year constant Duration Floater fund

Minimum 80% in G-secs, such that the Macaulay Minimum 65% in floating rate instruments (including fixed rate instruments
duration of the portfolio is equal to 10 years converted to floating rate exposures using swaps/ derivatives)
Hybrid schemes
Hybrid Funds

Invest in a mix of Aim to generate wealth Suitable for investors

equities and debt from equity exposure while looking for a mix of safety,
the debt portion fortifies income and modest capital
them against any downturn appreciation
Hybrid Funds

SEBI has classified Hybrid funds into 7 sub-categories as follows:

Conservative Hybrid Fund Balanced Hybrid Fund Dynamic Asset Allocation

• 10% to 25% investment in equity & equity
• 40% to 60% investment in equity &
or Balanced Advantage
related instruments; and
equity related instruments; and • Investment in equity/ debt that is
• 75% to 90% in Debt instruments
• 40% to 60% in Debt instruments managed dynamically (0% to 100% in
equity & equity related instruments; and
• 0% to 100% in Debt instruments)

Arbitrage Fund Equity Savings

Multi Asset Allocation
• Arbitrage funds are hybrid mutual • Equity and equity related instruments
• Investment in at least 3 asset classes with funds that generate returns by (min.65%);
a minimum allocation of at least 10% in using the strategy of • Debt instruments (min.10%); and
each asset class simultaneously buying and selling • Derivatives (min. for hedging to be
of securities in different markets specified in the SID)
to take advantage of different
prices.
Solution-oriented
& Other schemes
Solution Oriented & Other Schemes

Retirement Funds Children’s Funds

Lock-in for at least 5 years or till retirement Lock-in for at least 5 years or till the child
age whichever is earlier attains age of majority whichever is earlier

Index Funds/ ETFs Fund of Funds

Minimum 95% investment in securities of a (Overseas/ Domestic)
particular index
Minimum 95% investment in
securities of a particular index
Index Funds

Portfolio replicates the index Aims to provide returns in Suitable for investors
line with index seeking returns similar to
index
 Mirrors a market index.

Includes securities as per index and in the same proportion/weightage

Index Funds
Passive fund management

Aims to offer returns and undertake risks similar to the of the index it tracks

Fees capped at: 1.5% (of the amount one invests annually)

Complete transparency in knowing the stocks in the portfolio

Exchange
Tracks an index, a commodity, bonds, or a basket of assets
Traded Funds
(ETFs)
Trades like a common stock on the stock exchange

Passive fund management

Lower cost of fund management than active funds

 Invests in pure physical gold bullion of 99.5% purity. May also
invest in gold related instruments approved by SEBI and Gold
Deposit Scheme of banks upto 20% of net assets

Each unit of Gold ETFs represents a defined weight in gold, typically one gram.
Gold
Exchange Traded Funds
The price of Gold ETF unit moves in line with the domestic price of gold.

Gold ETF are benchmarked against the price of gold.

Considered as non-equity mutual funds for the purpose of taxation

• Eligible for long-term capital gains benefits if held for 3 years
• No wealth tax is applicable on Units of Gold ETFs
 International funds expose your portfolio to international
markets, by holding one or more of the following:

• Equity/ Debt of companies listed abroad

International • ADRs and GDRs of Indian companies
Funds • Debt of companies listed abroad

• ETFs of other countries

• Units of passive index funds in other countries

• Units of actively managed mutual funds in other countries

An international equity fund may also hold some Indian equity or

debt and invest in money market instruments to manage liquidity.
 Fund of funds invest in the units of another mutual fund. Hence,
FoFs are also known as multi-manager funds
Fund of
Funds (FoF) The portfolio of a FoF scheme includes the units of different mutual fund
schemes the FOF invests in

The fund management cost includes expenses of FoF along with underlying
schemes.

Investing in an FoF helps diversify the portfolio and benefit from risk
diversification
 The word 'Arbitrage' refers to the practice of buying a security in
one market, and then selling it at a higher price in another market.

An Arbitrage fund buys a security in the cash market and simultaneously

sells it in the Futures market, at a higher price. The price difference in
these two markets helps generate returns.
Arbitrage
The positions have to be held until expiry of the derivative cycle and both
Funds positions need to be closed at the same price to realize the difference.

The cash market price converges with the futures market price at the end of the
contract period. Thus it delivers risk-free profit for the investor/trader.

Price movements do not affect initial price differential because the profit in one
market is set-off by the loss in the other market.

Suitable for cautious investors who want to benefit from a volatile market
without taking on too much risk.
Mutual Fund Scheme - Which one to buy?

…. a matter of
Risk Return Trade-Off

Equity Schemes Hybrid Schemes Debt Schemes Liquids Schemes

• Higher Returns • Moderate Returns • Low - Moderate Returns • Lower Returns
• Higher Risk • Moderate Risk • Low - Moderate Risk • Very Low Risk
Scheme Related
Documents
Scheme Related Documents

KIM

Scheme information Statement of Key Information

document (SID) Additional Memorandum (KIM)
Information (SAI)
• It includes detailed information • SAI contains information related • KIM is a summarized version
that an investor should know to legal, tax, and general of the SID
before investing, like the aspects of a mutual fund. • It includes key/essential
investment objective, fees, • It is common for all schemes details that an investor must
asset allocation, etc. issued by a mutual fund. understand before investing.

• One must read & understand scheme related documents before investing in a mutual fund scheme.
Factsheet

A fact sheet helps you evaluate a scheme and keep

a track of its performance.

It is issued every month.

Factsheet The document aims to provide a snapshot of the

scheme, in an easy-to-understand way.

A fact sheet shows key information like NAV,

returns, Riskometer, etc. at a glance.
Plans & Options
Direct Plans & Regular Plans

Regular Plan Direct Plan

You can invest with the help of You can invest DIRECTLY without
Mutual Fund Distributor/agent involving any distributor/agent

It has comparatively LOWER NAV It has HIGHER NAV than regular plan

It has High Expense Ratio It has Low Expense Ratio as there is no

additional fees involved to broker/agent
Growth Option & IDCW (Dividend) Option

Growth Option

Profits made by the

Suitable for investors
scheme are re-invested in This option can help avail
who do not require
the scheme and not paid the benefit of compounding
regular income
out to investors

Income Distribution cum Capital Withdrawal (IDCW) Option

Profits made by the

Suitable for investors Investors have to
scheme are either
who require a source pay a tax on the
re-invested or paid
of income dividend income
out to investors from
time to time
Modes of Investing

Lump sum Investment Systematic Systematic Transfer Inter Scheme

Investing a certain amount Investment Plan (SIP) Plan (STP) Switches
in one go
Investing a fixed amount Transferring a certain amount Switching investment from
periodically from one mutual fund scheme one open ended scheme
(source) to another mutual fund to another within the same
scheme (target) of your choice fund house
 SIP allows an investor to regularly invest a fixed
amount in a mutual fund scheme.

This is similar to the Recurring Deposit facility

Systematic provided by banks

Investment The advantages of investing through SIP are:

Plan (SIP)
• Regular, disciplined investing

• Smaller installments

• Averaging the cost of one unit i.e., 'Rupee Cost

Averaging’

• No need to time the market!

SIP: The Power Of Compounding
SIP of Rs. 1,000 invested per month @ 8% pa till the age of 60.

23,09,175
Total Amount invested through SIP

15,00,295 Value at the age of 60

4,20,000
9,57,367
3,60,000
5,92,947
3,00,000
2,40,000

Starting Age 25 30 35 40

…the sooner you start, makes a lot of difference!

https://www.mutualfundssahihai.com/en/calculators
SIP - How Rupee Cost Averaging helps

Month Amount Rising Market Falling Market Volatile Market

NAV (Rs) Units Allotted NAV (Rs) Units Allotted NAV (Rs) Units Allotted

1 10,000 10 1000.00 10 1000.00 10 1000.00

2 10,000 10.5 952.38 9.75 1025.64 10.5 952.38
3 10,000 12 833.33 9 1111.11 9 1111.11
4 10,000 14 714.29 7 1428.57 11 909.09
5 10,000 17 588.24 6.5 1538.46 13 769.23
6 10,000 18 555.56 6 1666.67 11.5 869.57
Total 60,000 81.50 4643.79 48.25 7770.45 65.00 5611.38
Avg. Purchase NAV 13.58 8.04 10.83
Avg. cost per unit 12.92 7.72 10.69
Put aside an amount regularly Rupee cost averaging Discipline is the key Control volatility

Note: The above example uses assumed figures and is for illustrative purposes only.
 SWP allows an investor to regularly withdraw a fixed amount from
their mutual fund investments

Systematic The desired amount is credited to the investor's bank account by

Withdrawal redeeming equivalent units

Plan (SWP)
SWP can aid retirement planning as it provides a regular cash inflow

SWP also helps in supplementing your regular salary, etc. income by

way of additional cash flow
How to invest in
Mutual Funds
Be 'Investment-ready'!

Pre-requisites Steps to complete KYC Process After completing KYC

Visit any MF Branch Investor Service

KYC (Know Your Customer) Centre / Branch with required KYC you can open a MF Folio
Process Documents, namely – with any Mutual Fund
and start investing .

Address Proof - Aadhaar Card,

PAN Card Passport, Tel. bill etc.

Identity Proof - PAN Card,

Aadhaar Card, Passport,
Bank Account Voter’s card etc. Start Investing
Submit Completed KYC form
with photograph with required
documents
KYC
KYC is an acronym for "Know Your Customer" and is a term used for Customer Identification Process as a part of Account Opening
process with any financial entity.

To know your KYC status, visit your Mutual Fund’s or Registrar & Transfer Agent’s (RTA) Website and
check for “KYC Status” link. Enter your 10-digit PAN to know your KYC status.

If your KYC status is “Validated” If your KYC status is “Registered”, you can If your KYC status is “On-Hold/ Rejected”,
you can transact in any Mutual transact in all you existing mutual fund you will have to remediate the reason for
Fund, anytime. investments, but will need to update your KYC to KYC On-Hold/ Rejected by following the
invest in a Mutual Fund where you don’t have an steps on the Mutual Fund website.
investment already.
Modes of Investing

Online Mode
Physical Mode
(Traditional / Paper based )
How to invest in a Mutual Fund Scheme?

One can invest in a Mutual Fund scheme Offline or Online

Offline (physical application) mode Online mode

To invest in mutual funds through the offline mode: To invest in mutual funds through the online mode:
Fill out the scheme application form
and sign it Visit the website of the respective mutual
fund or a mutual fund distributor

Provide a cheque or a bank draft for

Buy mutual funds units through NSE –
the amount to be invested
MFSS and BSE - StAR MF

Submit the form and the cheque/bank

draft at the branch office or designated
Visit the MF Utilities website, which is a
Investor Service Centers of mutual
shared service platform promoted by the
funds or Registrar and Transfer Agents
mutual fund industry
and MFU
How to withdraw your money?

Withdrawing your money from Mutual Fund scheme is called as Redemption or Repurchase.

You can withdraw full or partial amount or even a specific number of units.

Offline mode to redeem your Online mode to redeem your

mutual fund investments mutual fund investments

Submit the Redemption Request form to the Log-on to the ‘Online Transaction’
AMC or the Registrar's office. page of the desired Mutual Fund.

The form has to be signed by all unit holders. Select the Scheme and the
number of units (or the amount)
you wish to redeem and confirm
The proceeds from the redemption will be
your transaction.
credited to the first named unit holder's
bank account.
Performance Evaluation Principles

A mutual fund provides The returns of a fund should be The risk a fund undertakes,
relative return, with respect measured over the and the returns generated
to its benchmark. recommended holding period by taking this risk, should
be proportionate

The returns have to be Debt funds are held for shorter A fund underperforms when
compared with the fund's periods higher returns are generated
benchmark with higher than proportionate
risks, and vice versa.

The idea is to know if the risk

Appropriate benchmarks Equity funds are held for longer is worth the returns of a fund
should be used to evaluate periods
a fund’s performance
Stress Testing

Stress Testing is a computer- In Mutual Fund context, it aims Stress testing is based on the It is a only a measure of
simulated method to test how to measure the impact on a fund latest real stock data and is resilience of a portfolio based on
investment portfolios may in case a significantly large updated every month on the certain assumptions and may or
perform under extreme amount of portfolio needs to be AMFI website for Mid and Small may not behave the same in
conditions. liquidated in a very short time. Cap Funds. actual future market conditions.
What is NAV?

Net Asset Value

The NAV indicates the price of one unit of a particular fund.

The formula of NAV is:

NAV = (Assets-Liabilities)/ Total number of outstanding shares

Mutual Fund NAVs are published daily on AMFI’s website, Mutual Fund Websites, leading newspapers,
etc.
Product Labelling
The product label of a mutual fund helps the investor understand:

Ideal time horizon for investing in scheme i.e., short, medium or

long term

Brief investment objective of the scheme, and the asset/assets it invests in

Riskometer

Level of risk the investor will undertake by investing in the scheme, indicated by the
'Riskometer‘. The levels of risk may be as follows:

Low Risk – Principal at low risk

Low to Moderate Risk - Principal at low to moderate risk

Moderate Risk - Principal at moderate risk

Moderately High Risk - Principal at moderately high risk

Investors understand that their principal will be at moderate risk
High Risk - Principal at high risk

Very High Risk - Principal at very high risk

Disclaimer that says "Investors should consult their financial advisers if they are not
clear about the suitability of the product.”
Nomination

Nomination is a facility that enables an individual unit holder to nominate a

person, who can claim the units held by the unit holder or the redemption
proceeds thereof in the event of death the unit holder.

If the Units are held jointly by more than one person, all joint unit holders are
required to together nominate a person who gets the rights of the units, upon
the death of all joint unit holders.

W.e.f October 1, 2021, it is mandatory for investors subscribing to Mutual

Funds to register nomination / opt-out of nomination
Nomination once made can be changed subsequently any time and any
number of times.

It is mandatory for mutual fund unit holders to provide nomination. Failing to

do so might result in freezing of folios from debit.
Why is Nomination important?

If a unit holder does not nominate a It also depends upon the Will left by Thus, Nomination provides a simpler
person, the units would be transmitted the unit holder (if any) and as per and cost-efficient way for the
to the account of legal heir(s). the relevant laws. This may make nominee to claim the units/money in
the procedure lengthy, expensive one's mutual fund portfolio, demat
and cumbersome. account or bank account.

It also involves minimal paperwork. The nominee has to complete If the nominee is a minor, a proof of
formalities as completing the KYC guardianship is required.
process, providing the proof of
death of the unit holder, etc. to claim
the units after the death of the unit
holder.
Complaints Redressal Mechanism

Complaint to Mutual Fund

Contact the Investor Relations Officer of the Mutual Fund

Name and contact details of the Investor Relations Officer are available in the Scheme Information
Document and also on the website of the concerned mutual fund.
SEBI Complaints
Redress System

SEBI Complaint Redress System (SCORES) is a

web-based complaint redressal portal provided by SEBI.

An investor can lodge an online complaint with SEBI

through SCORES if he/she is not satisfied with the response
from the Mutual Fund/company/intermediary.

SEBI takes up the complaints registered via SCORES with

the concerned company / mutual fund / intermediary for
timely redressal.

To log on to SCORES System, please visit http://scores.gov.in/

SEBI Saarthi App
 Thank You

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.