Beruflich Dokumente
Kultur Dokumente
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Classification of MF schemes
Advantages and Disadvantages of MF
Concept
Form
of trust that pools the funds of a whole lot of investors to make more money by investing in an array of financial instruments.
A
Owner
of a mutual fund unit gets a proportional share of the funds gains, losses, income and expenses.
Investors
Pooling
Returns
Mutual fund
Investment
Returns
Financial Markets
Types of Funds
Open
ended funds Close ended funds Interval funds Actively Managed Funds Passive funds Debt, Equity and Hybrid funds International funds (Feeder fund and host fund) Exchange traded funds
Equity Funds Sector funds Thematic Funds ELSS Dividend Yield schemes Arbitrage funds
funds Diversified debt funds Junk bond schemes Fixed maturity plans Floating rate funds Liquid schemes
Advantages/ Disadvantages
ADVANTAGES
Professional
DISADVANTAGES
Lack
Management Affordable Portfolio Diversification Economies of scale Liquidity Tax Deferral Convenient options Investment comfort Regulatory comfort Systematic approach to investment
History of Indian MF
Started
In 1978, UTI was de-linked from RBI and IDBI took the regulatory control.
Phase
2 (1987-93) 3 (1993-2003)
1987 marked the entry of non-UTI, public sector banks, LIC and GIC Entry of private sector Mutual funds
Phase
Phase
4 (Since 2003)
UTI Act,1963 bifurcated into specified undertaking of UTI and sponsored UTI.
+ Dividend Income
+ Realized Capital Gain + Valuation Gains Realized capital losses Valuation losses Scheme Expenses
When this metric is positive, true worth of unit goes up and vice-versa
Terminology
NAV NFO AUM Net Asset Value New Fund Offer Assets under Management
Sale Price
Re-purchase Price Redemption Price Sales Load
Trustee
AMC RTA
Custodian Auditors
Distributors Collective
Bankers
Sponsors
Applies to Sebi and invest in AMC.
The
Latest
Sponsors
Applies to Sebi and invest in AMC.
He
Offer Documents
NFO
(New fund Offer) SID (Scheme information documents) SAI (Statement of additional information) KIM (Key information memorandum)
SID
Prepared in prescribed format by SEBI. It is a public document, available for viewing in SEBIs website for 21 working days. Final SID is hosted on AMFIs website two days before the issue.
Cover
page:
Scheme
structure (Open, close, interval) Nature of scheme (Equity, balanced, debt) Face value Units offered Dates of NFO SID Date Name & address of mutual fund
SID
Table
Provisions regarding minimum number of investors in scheme Any other special consideration
Definitions
Due diligence certificate
Information
about scheme Fees & Expenses Rights of unit holders Penalties, litigation
Contents of SAI
Information
about sponsors, AMC, Trustee company (including contact information, shareholding pattern, responsibilities, names of directors and their contact information) Profiles of key personnel with contact information Condensed financial information How to apply Rights of unit-holders Investment valuation norms Tax, legal and general information
KIM
of AMC, Mutual funs, trustee, fund manager and scheme Dates of issue opening, closing and re-opening Plans and options under scheme Risk profile of scheme Prices, minimum amount to purchase, Dividend policy Performance of scheme for last 5 years Loads & expenses Contact information of registrar for taking up investor grievances