Mutual Funds in India

Contents: Preface. 1. Mutual funds in historical perspective. 2. International and Indian studies on mutual funds. 3. Savings and alternative investment opportunities. 4. Concept significance and attributes of mutual funds. 5. Classification of mutual funds. 6. Regulations and problems of mutual funds. 7. Sponsors trustees and asset management companies of mutual funds. 8. Unit Trust of India Mutual Fund (UTIMF). 9. Major schemes of UTI mutual fund. Glossary. Bibliography. Index.

Mutual funds are very popular all over the world and they play an important role in the financial system of many countries. Mutual funds are an ideal medium for investment by small investors in the stock market. Mutual funds pool together the investment of small investors for participation in the stock market. Being institutional investors mutual funds can afford market analysis generally not available to individual investors. Furthermore mutual funds can diversify the portfolio in a better way as compared to individual investors due to the expertise and availability of funds.

Mutual funds in India were first created in 1963 when the Unit Trust of India (UTI), a state-sponsor identity came into being. Until 1987 UTI was the only mutual fund in the country. Between 1987 and 1993 other entities belonging to the public sector were permitted to offer mutual funds basically state controlled banks and insurers. (jacket)