|
 



|



 
 




 

|
|



 O
 |
 
ë A Mutual Fund is a trust that pools the savings of a number of
investors who share a common financial goal.

ë Or a mutual fund is a professionally-managed firm of collective

investments that pools money from many investors and invests it
in stocks, bonds, short-term money market instruments, and/or
other securities.

ë The SEBI regulations, 1993 defines a mutual fund as ͞a fund in

the form of a trust by a sponsor, to raise money by the trustees
trough the sale of units to the public, under one or more
schemes, for investing in securities in accordance with these
regulations͟
| |
  
 
å Mutual funds in India began in 1964
å Unit Trust of India (UTI) was the first
å Remains the market leader even today
å Having about 68% of the market share
å Lost monopoly in 1987
å With entry of public sector mutual funds
å Promoted by public sector banks
 and insurance companies
å Industry was open to foreign institutions in
1993
å Real competitive structure began only then
  
 
å Unit trust of India was established on 1963 by an Act of
Parliament.

å The first scheme launched by UTI was unit Scheme in 1964

å In 1978, UTI was de-linked from the RBI and IDBI took
over the regulatory and administrative control in place of
RBI

å At the end of 1988 UTI had Rs,6700 crores of assets under

management
  
å SBI Mutual fund was the first followed by Can bank
Mutual Fund (Dec1987)

å PnB Mutual Fund (Aug 1989)

å Bank of India(Jun1990),LIC in 1989 and GIC in 1990

å Bank of Baroda Mutual Fund (Oct 1992)

å The end of 1993 marked Rs.47004 a assets under

management

   !"" 



#
 
å A new era started in the Indian mutual fund
industry, with the entry of pvt sector funds from
1993

å The erstwhile Kothari Pioneer(now emerged

with Franklin Templeton ) was the first pvt
sector mf registered in July 1993.

å At the end of January 2003,there were 33

mutual fund with total assets of Rs.121805
crores.
 
  !""
å This phase had bitter experience of UTI. It was
bifurcated into two separate entities. One is the
specified Undertaking of the UTI of Rs.29835
crores.

å The 2nd is UTI Mutual Fund Ltd, sponsored by

SBI, PnB, BOB, LIC

å With the bifurcation of the erstwhile UTI which

had in March 2000 more than Rs.76000crores
and the setting up a UTI mutual fund
|
  
O


 

|
 

å Mobilizing small savings

å Professional Management
å Diversified Investment
å Better Liquidity
å Reduced Risk
å Switching Facility
å Tax benefits
å Low Transaction Cost
å Convenience
  

 |

 
å ›

å



   
å  
 
  
å Obj
 
 








  
 
å  

 

å  
 
   
å  
!
  
 

!
   O
å 
  





 

b 


   

"
# 
$!%
b"
&

  '




  
 

  







b(


 

b
 




 
&
'

) 
 


 
 

 
  '
%




 

 %
!%
 '
å * 




 j


  


b%






 '
) 


 
 
%




 

 '
å +  
 


,
 

 ,
  '




%

&b%


 

 



 '
å 


   

  

%


  '

) 
%

!


   (

%





*  '
O



  

!
 '
 ||

å 




 
 
b 





 
b

 



  
 



'
å - 


 

 

!%




b

b 
 


 

 
!%
 '
 
 

!%
 
b




 
%


   '
å  
 

 


  
b 


 
 



 





 
 '
   

 -   

 
 

 
 





 

 
b 


 

   

 '
.%
%
 


 


 

b
 


 

 





 (

(

'

O
/
› 


-   "

 
 

 
 



 


 


&
 

 '
%(
%

 

 




 
%

 

 

 
b 


b




 

'