$\rm{Ni–Co–Cu–Mn\,Ferrite+PZT (PbZr_{0.52}Ti_{0.48}O_{3})}$ ferroelectric: composite thick filmswere prepared by the screen-printing method. The normal XRD and the low glancing angle XRD confirm the presence of both phases in the composite thick films. Back-scattered SEM shows 0-3 and 3-3 types of connectivity. The magnetic ordering of the ferrite phase was confirmed from $M–H$ hysteresis loop whereas the electric ordering of the ferroelectric phase was confirmed from $P–E$ hysteresis curve. Various measurable parameters from the loop were studied as a function of the mole percent of constituent phases. PUND (positive up negative down) analysis was done to determine the resultant polarisation contributed by the participating phases in the composites. Dielectric and magnetoelectric (ME) measurements were analysed in the light of PUND measured data.