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money from many investors to buy stocks, bonds, short-term money market instruments,
and/or other securities.[1] In the United States, a mutual fund is registered with the
Securities and Exchange Commission (SEC) and is overseen by a board of directors (if
organized as a corporation) or board of trustees (if organized as a trust). The board is
charged with ensuring that the fund is managed in the best interests of the fund's investors
and with hiring the fund manager and other service providers to the fund. The fund
manager, also known as the fund sponsor or fund management company, trades (buys
and sells) the fund's investments in accordance with the fund's investment objective. A
fund manager must be a registered investment advisor. Funds that are managed by the
same fund manager and that have the same brand name are known as a "fund family" or
"fund complex".
The Investment Company Act of 1940 (the 1940 Act) established three types of
registered investment companies or RICs in the United States: open-end funds, unit
investment trusts (UITs); and closed-end funds. Recently, exchange-traded funds (ETFs),
which are open-end funds or unit investment trusts that trade on an exchange, have
gained in popularity. While the term "mutual fund" may refer to all three types of
registered investment companies, it is more commonly used to refer exclusively to the
open-end type.
Hedge funds are not considered a type of mutual fund. While they are another type of
commingled investment scheme, they are not governed by the Investment Company Act
of 1940 and are not required to register with the Securities and Exchange Commission
(though many hedge fund managers now must register as investment advisors).
Mutual funds are not taxed on their income as long as they comply with certain
requirements established in the Internal Revenue Code. Specifically, they must diversify
their investments, limit ownership of voting securities, distribute most of their income to
their investors annually, and earn most of the income by investing in securities and
currencies.[2] Mutual funds pass taxable income on to their investors. The type of income
they earn is unchanged as it passes through to the shareholders. For example, mutual fund
distributions of dividend income are reported as dividend income by the investor. There
is an exception: net losses incurred by a mutual fund are not distributed or passed through
to fund investors.
Outside of the United States, mutual fund is used as a generic term for various types of
collective investment vehicles available to the general public, such as unit trusts, open-
ended investment companies (OEICs, pronounced "oyks"), unitized insurance funds,
UCITS (Undertakings for Collective Investment in Transferable Securities, pronounced
"YOU-sits") and SICAVs (société d'investissement à capital variable, pronounced "SEE-
cavs").
• Increased diversification
• Daily liquidity
• Professional investment management
• Ability to participate in investments that may be available only to larger investors
• Service and convenience
• Government oversight
• Ease of comparison
• Fees
• Less control over timing of recognition of gains
• Less predictable income
• No opportunity to customize
MF IN INDIA:
Mutual Funds are financial intermediaries. They are companies set up to receive your
money, and then having received it, make investments with the money Via an AMC. It is
an ideal tool for people who want to invest but don't want to be bothered with
deciphering the numbers and deciding whether the stock is a good buy or not.
Introduction
Vision
To be the most Preferred Mutual Fund.
Since February 3, 2004, UTIAMC is also a registered portfolio manager under the SEBI (Portfolio
Managers) Regulations, 1993 for undertaking portfolio management services. UTIAMC also acts as
the manager and marketer to offshore funds through its 100 % subsidiary, UTI International
Limited, registered in Guernsey, Channel Islands.
UTIAMC has a well-qualified, professional fund management team, which has been fully
empowered to manage funds with greater efficiency and accountability in the sole interest of the
unit holders. The fund managers are ably supported by a strong in-house securities research
department. To ensure investors’ interests, a risk management department is also in operation.
Reliability
UTIMF has consistently reset and upgraded transparency standards. All the branches, UFCs and
registrar offices are connected on a robust IT network to ensure cost-effective quick and efficient
service. All these have evolved UTIMF to position as a dynamic, responsive, restructured, efficient
and transparent entity, fully compliant with SEBI regulations.