Mutual Funds

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KAVITA KARUNAKARAN
XIII B BATCH
ROLL NO: 73

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Mutual Funds

  1. 1. KAVITA KARUNAKARAN XIII B BATCH ROLL NO: 73
  2. 2. MUTUAL FUNDS
  3. 3. Concept of a mutual fund <ul><li>A mutual fund is a common pool of money into which investors place their contributions that are to be invested in accordance with a stated objective </li></ul><ul><li>The ownership of the fund is thus joint or mutual </li></ul>
  4. 4. History of MF in India <ul><li>Phase I: (1964-87) </li></ul><ul><li>UTI was established in 1963 </li></ul><ul><li>Unit scheme 1964 : The first and the largest scheme </li></ul><ul><li>ULIP : launched in 1971 </li></ul>
  5. 5. <ul><li>Phase II: (1987-1993) </li></ul><ul><li>Entry of public sector mutual funds </li></ul><ul><li>First Public sector mutual fund: State bank of India in 1987 </li></ul>
  6. 6. <ul><li>Phase III: (1993-1996) </li></ul><ul><li>Emergence of private funds </li></ul><ul><li>Foreign fund management companies came to India with joint venture </li></ul>
  7. 7. <ul><li>Phase IV: (1996) : securities and exchange board of India </li></ul><ul><li>SEBI regulation for mutual funds </li></ul><ul><li>Dividends exempted from income tax from 1999 </li></ul>
  8. 8. Types of funds <ul><li>Open end & closed end </li></ul><ul><li>Load funds & no load funds </li></ul><ul><li>Tax exempt or Non tax exempt </li></ul>
  9. 9. Structure of Mutual Funds <ul><li>The fund sponsor </li></ul><ul><li>Mutual fund as trust </li></ul><ul><li>Trustee </li></ul><ul><li>The asset management company </li></ul>
  10. 10. <ul><ul><li>Custodian and depositories </li></ul></ul><ul><ul><li>Bankers </li></ul></ul><ul><ul><li>Transfer Agents </li></ul></ul><ul><ul><li>Distributors </li></ul></ul>

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