The Indian mutual fund industry has grown significantly since its inception in 1963. It has evolved through various phases from the establishment of UTI as the sole player to increased competition and regulation. Today there are over 100 funds with over $250 billion in assets. Going forward, factors such as financial inclusion, international players, and new product offerings are expected to drive further growth. However, challenges remain around fees, returns, and market penetration in rural areas.
In this ppt i have included Knowing the Basics, How do mutual funds work?, History of Indian Mutual Fund, Types of Mutual Funds, Myths and Facts of Mutual Fund
Mutual Funds are one of the best investment solutions that generate better interest. This presentation points out Mutual Funds types, growth, role, challenges and their scope in coming years. To get more details go through the presentation.
In this ppt i have included Knowing the Basics, How do mutual funds work?, History of Indian Mutual Fund, Types of Mutual Funds, Myths and Facts of Mutual Fund
Mutual Funds are one of the best investment solutions that generate better interest. This presentation points out Mutual Funds types, growth, role, challenges and their scope in coming years. To get more details go through the presentation.
A mutual fund collects money from investors and invests the money on their behalf. It charges a small fee for managing the money. Mutual funds are an ideal investment vehicle for regular investors who do not know much about investing. Investors can choose a mutual fund scheme based on their financial goal and start investing to achieve the goal.
Mutual Funds
Portfolio/Fund Manager
Net Asset Value
Types of Mutual Funds
By Structure
By Investment Objective
Sources of Profit generation
Mutual Funds industry in Pakistan
Rules Govern Mutual Funds in Pakistan
Mutual Funds Companies in Pakistan
NBP Fullerton Asset Management Limited
Sponsors
Funds name
NAFA Money Market Fund
Department Of Journalism and Mass Communication- MUTUAL FUNDS
Mutual Find is a collective saving schemes
TYPES OF MUTUAL FUNDS
NET ASSET VALUE
PLAYERS IN MUTUAL FUND
Mutual Fund Trust
Asset Management Company
Association of Mutual Funds in India.
Mutual funds of Bangladesh:An OverviewAsifa Ishrat
An outline of mutual fund sector of Bangladesh has been given here.In addition,impediments that are holding back the improvement of the sector and some suggestions to remove them are mentioned.
mutual funds explained as a points with included examples and types of it, explained with live example of mutual funds and companies offering mutual funds
A mutual fund collects money from investors and invests the money on their behalf. It charges a small fee for managing the money. Mutual funds are an ideal investment vehicle for regular investors who do not know much about investing. Investors can choose a mutual fund scheme based on their financial goal and start investing to achieve the goal.
Mutual Funds
Portfolio/Fund Manager
Net Asset Value
Types of Mutual Funds
By Structure
By Investment Objective
Sources of Profit generation
Mutual Funds industry in Pakistan
Rules Govern Mutual Funds in Pakistan
Mutual Funds Companies in Pakistan
NBP Fullerton Asset Management Limited
Sponsors
Funds name
NAFA Money Market Fund
Department Of Journalism and Mass Communication- MUTUAL FUNDS
Mutual Find is a collective saving schemes
TYPES OF MUTUAL FUNDS
NET ASSET VALUE
PLAYERS IN MUTUAL FUND
Mutual Fund Trust
Asset Management Company
Association of Mutual Funds in India.
Mutual funds of Bangladesh:An OverviewAsifa Ishrat
An outline of mutual fund sector of Bangladesh has been given here.In addition,impediments that are holding back the improvement of the sector and some suggestions to remove them are mentioned.
mutual funds explained as a points with included examples and types of it, explained with live example of mutual funds and companies offering mutual funds
I have found all primary data and secondary data for this project by my own efforts and the all data are 100% true according to my summer internship experience..Thanks
A mutual fund is the money pooled in by a large number of investors and offers an opportunity to invest in a diversified and professionally managed basket of securities at a relatively lower cost. Read for more details.
IDFC Mutual Fund is a leading Mutual Funds Investment Company in India. Invest in SIP, Equity, Debt, Hybrid, Long Term and Tax Saving Mutual Funds online.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Scope Of Macroeconomics introduction and basic theories
Emerging trends in indian mutul funds
1. EMERGING TRENDS IN INDIAN MUTUL FUNDS
Content:
Introduction
Definition of 'Mutual Fund'
Origin of Mutul funds
The Evolution
Advantages and Disadvantages
The Future of Mutul funds in india facts on growth
Conclusion
Introduction:
A mutual fund is a type of professionally-managed type collective investment
scheme that pools money from many investors. While there is no legal definition of mutual fund,
the term is most commonly applied only to those collective investment schemes that are
regulated, available to the general public and open-ended in nature. Hedge funds are not
considered a type of mutual fund.
The term mutual fund is less widely used outside of the United States. For collective
investment schemes outside of the United States, see articles on specific types of funds including
open-ended investment companies, SICAVs, unitized insurance funds, unit trusts and
Undertakings for Collective Investment in Transferable Securities.
Definition of 'Mutual Fund'
An investment vehicle that is made up of a pool of funds collected from many
investors for the purpose of investing in securities such as stocks, bonds, money
market instruments and similar assets. Mutual funds are operated by money managers, who
invest the fund's capital and attempt to produce capital gains and income for the fund's investors.
A mutual fund's portfolio is structured and maintained to match the investment objectives stated
in its prospectus.
2. Origin of Mutul funds:
The first mutual funds were established in Europe. One researcher credits a Dutch
merchant with creating the first mutual fund in 1774. The first mutual fund outside the
Netherlands was the Foreign & Colonial Government Trust, which was established in London in
1868. It is now the Foreign & Colonial Investment Trust and trades on the London stock
exchange.
Mutual funds were introduced into the United States in the 1890s. They became popular during
the 1920s. These early funds were generally of the closed-end type with a fixed number of shares
which often traded at prices above the value of the portfolio.
The first open-end mutual fund with redeemable shares was established on March 21, 1924. This
fund, the Massachusetts Investors Trust, is now part of the MFS family of funds. However,
closed-end funds remained more popular than open-end funds throughout the 1920s. By 1929,
open-end funds accounted for only 5% of the industry's $27 billion in total assets.
After the stock market crash of 1929, Congress passed a series of acts regulating the securities
markets in general and mutual funds in particular. The Securities Act of 1933 requires that all
investments sold to the public, including mutual funds, be registered with the Securities and
Exchange Commission and that they provide prospective investors with a prospectus that
discloses essential facts about the investment. The Securities and Exchange Act of 1934 requires
that issuers of securities, including mutual funds, report regularly to their investors; this act also
created the Securities and Exchange Commission, which is the principal regulator of mutual
funds. The Revenue Act of 1936 established guidelines for the taxation of mutual funds, while
the Investment Company Act of 1940 governs their structure.
When confidence in the stock market returned in the 1950s, the mutual fund industry began to
grow again. By 1970, there were approximately 360 funds with $48 billion in assets. The
introduction of money market funds in the high interest rate environment of the late 1970s
boosted industry growth dramatically. The first retail index fund, First Index Investment Trust,
was formed in 1976 by The Vanguard Group, headed by John Bogle; it is now called the
Vanguard 500 Index Fund and is one of the world's largest mutual funds, with more than $100
billion in assets as of January 31, 2011.
Fund industry growth continued into the 1980s and 1990s, as a result of three factors: a bull
market for both stocks and bonds, new product introductions (including tax-exempt bond, sector,
international and target date funds) and wider distribution of fund shares. Among the new
distribution channels were retirement plans. Mutual funds are now the preferred investment
option in certain types of fast-growing retirement plans, specifically in 401(k) and other defined
contribution plans and in individual retirement accounts (IRAs), all of which surged in popularity
in the 1980s. Total mutual fund assets fell in 2008 as a result of the credit crisis of 2008.
3. In 2003, the mutual fund industry was involved in a scandal involving unequal treatment of fund
shareholders. Some fund management companies allowed favored investors to engage in late
trading, which is illegal, or market timing, which is a practice prohibited by fund policy. The
scandal was initially discovered by then-New York State Attorney General Eliot Spitzer and
resulted in significantly increased regulation of the industry.
At the end of 2010, there were over 15,000 mutual funds of all types in the United
States with combined assets of $13.1 trillion, according to the Investment Company Institute
(ICI), a national trade association of investment companies in the United States. The ICI reports
that worldwide mutual fund assets were $24.7 trillion on the same date.
Mutual funds play an important in U.S. household finances. At the end of 2010, they
accounted for 23% of household financial assets. Their role in retirement planning is particularly
significant. Roughly half of assets in 401(k) plans and individual retirement accounts were
invested in mutual funds.
When three Boston securities executives pooled their money together in 1924 tocreate
the first mutual fund, they had no idea how popular mutual funds wouldbecome.The idea of
pooling money together for investing purposes started in Europe in themid-1800s.
The first pooled fund in the U.S. was created in 1893 for the faculty andstaff of
Harvard University. On March 21st, 1924 the first official mutual fund wasborn. It was called the
Massachusetts Investors Trust.After one year, the Massachusetts Investors Trust grew from
$50,000 in assets in1924 to $392,000 in assets (with around 200 shareholders).
In contrast, there areover 10,000 mutual funds in the U.S. today totaling around $7
trillion (withapproximately 83million individual investors) accor ding to the
InvestmentCompany Institute.The stock market crash of 1929 slowed the growth of mutual
funds. In response tothe stock market crash, Congress passed the Securities Act of 1933 and
theSecurities Exchange Act of 1934.
These laws require that a fund be registered withthe SEC and provide prospective
investors with a prospectus. The SEC(U.S. Securities and Exchange Commission) helped
create the Investment Company Actof 1940 which provides the guidelines that all funds must
comply with today.With renewed confidence in the stock market, mutual funds began to
blossom. Bythe end of the 1960s there were around 270 funds with $48 billion in assets.In 1976,
John C. Bogle opened the first retail index fundcalled the First IndexInvestment Trust.
It is now called the Vanguard500 Index fund and in November of 2000 it became the
largest mutual fund ever with $100 billion in assets. One of the largest contributors of mutual
fund growth was Individual Retirement Account (IRA) provisions made in 1981, allowing
individuals (including those already in corporate pension plans) to contribute $2,000 a year.
Mutual funds are now popular in employer-sponsored defined contribution retirement plans
(401k),IRAs and Roth IRAs. Mutual funds are very popular today, known for ease-of-use,
liquidity, and unique diversification capabilities.
4. The Evolution
The formation of Unit Trust of India marked the evolution of the Indian mutual fund
industry in the year 1963. The primary objective at that time was to attract the small investors
and it was made possible through the collective efforts of the Government of India and the
Reserve Bank of India. The history of mutual fund industry in India can be better understood
dividedintofollowingphases:
Phase 1. Establishment and Growth of Unit Trust of India - 1964-87
Unit Trust of India enjoyed complete monopoly when it was established in the year 1963
by an act of Parliament. UTI was set up by the Reserve Bank of India and it continued to operate
under the regulatory control of the RBI until the two were de-linked in 1978 and the entire
control was tranferred in the hands of Industrial Development Bank of India (IDBI). UTI
launched its first scheme in 1964, named as Unit Scheme 1964 (US-64), which attracted the
largest number of investors in any single investment scheme over the years.
UTI launched more innovative schemes in 1970s and 80s to suit the needs of different
investors. It launched ULIP in 1971, six more schemes between 1981-84, Children's Gift Growth
Fund and India Fund (India's first offshore fund) in 1986, Mastershare (Inida's first equity
diversified scheme) in 1987 and Monthly Income Schemes (offering assured returns) during
1990s. By the end of 1987, UTI's assets under management grew ten times to Rs 6700 crores.
Phase II. Entry of Public Sector Funds - 1987-1993
The Indian mutual fund industry witnessed a number of public sector players entering the
market in the year 1987. In November 1987, SBI Mutual Fund from the State Bank of India
became the first non-UTI mutual fund in India. SBI Mutual Fund was later followed by Canbank
Mutual Fund, LIC Mutual Fund, Indian Bank Muatual Fund, Bank of India Mutual Fund, GIC
Mutual Fund and PNB Mutual Fund. By 1993, the assets under management of the industry
increased seven times to Rs. 47,004 crores. However, UTI remained to be the leader with about
80% market share.
Amount Assets Under Mobilisation as % of gross
1992-93
Mobilised Management Domestic Savings
UTI 11,057 38,247 5.2%
Public Sector 1,964 8,757 0.9%
Total 13,021 47,004 6.1%
5. Phase III. Emergence of Private Secor Funds - 1993-96
The permission given to private sector funds including foreign fund management
companies (most of them entering through joint ventures with Indian promoters) to enter the
mutal fund industry in 1993, provided a wide range of choice to investors and more competition
in the industry. Private funds introduced innovative products, investment techniques and
investor-servicing technology. By 1994-95, about 11 private sector funds had launched their
schemes.
PhaseIV.Growth and SEBI Regulation 1996-2004
The mutual fund industry witnessed robust growth and stricter regulation from the SEBI
after the year 1996. The mobilisation of funds and the number of players operating in the
industry reached new heights as investors started showing more interest in mutual funds.
Invetors' interests were safeguarded by SEBI and the Government offered tax benefits to
the investors in order to encourage them. SEBI (Mutual Funds) Regulations, 1996 was
introduced by SEBI that set uniform standards for all mutual funds in India. The Union Budget
in 1999 exempted all dividend incomes in the hands of investors from income tax. Various
Investor Awareness Programmes were launched during this phase, both by SEBI and AMFI,
with an objective to educate investors and make them informed about the mutual fund industry.
In February 2003, the UTI Act was repealed and UTI was stripped of its Special legal
status as a trust formed by an Act of Parliament. The primary objective behind this was to bring
all mutal fund players on the same level. UTI was re-organised into two parts: 1. The Specified
Undertaking, 2. The UTI Mutual Fund
Presently Unit Trust of India operates under the name of UTI Mutual Fund and its past
schemes (like US-64, Assured Return Schemes) are being gradually wound up. However, UTI
Mutual Fund is still the largest player in the industry. In 1999, there was a significant growth in
mobilisation of funds from investors and assets under management which is supported by the
following data:
6. GROSS FUND MOBILISATION (RS. CRORES)
PUBLIC PRIVATE
FROM TO UTI TOTAL
SECTOR SECTOR
01-April-98 31-March-99 11,679 1,732 7,966 21,377
01-April-99 31-March-00 13,536 4,039 42,173 59,748
01-April-00 31-March-01 12,413 6,192 74,352 92,957
01-April-01 31-March-02 4,643 13,613 1,46,267 1,64,523
01-April-02 31-Jan-03 5,505 22,923 2,20,551 2,48,979
01-Feb.-03 31-March-03 * 7,259* 58,435 65,694
01-April-03 31-March-04 - 68,558 5,21,632 5,90,190
01-April-04 31-March-05 - 1,03,246 7,36,416 8,39,662
01-April-05 31-March-06 - 1,83,446 9,14,712 10,98,158
ASSETS UNDER MANAGEMENT (RS. CRORES)
AS ON UTI PUBLIC SECTOR PRIVATE SECTOR TOTAL
31-March-99 53,320 8,292 6,860 68,472
Phase V. Growth and Consolidation - 2004 Onwards
The industry has also witnessed several mergers and acquisitions recently, examples of
which are acquisition of schemes of Alliance Mutual Fund by Birla Sun Life, Sun F&C Mutual
Fund and PNB Mutual Fund by Principal Mutual Fund. Simultaneously, more international
mutal fund players have entered India like Fidelity, Franklin Templeton Mutual Fund etc. There
were 29 funds as at the end of March 2006. This is a continuing phase of growth of the industry
through consolidation and entry of new international and private sector players.
7. Advantages and Disadvantages
Mutual funds have advantages compared to direct investing in individual securities. These
include:
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
Mutual funds have disadvantages as well, which includ:
Fees
Less control over timing of recognition of gains
Less predictable income
No opportunity to customize
8. Future of Mutual Funds In India-Facts on growth
Important aspects related to the future of mutual funds in India are -
The growth rate was 100 % in 6 previous years.
The saving rate in India is 23 %.
There is a huge scope in the future for the expansion of the mutual funds industry.
A number of foreign based assets management companies are venturing into Indian
markets.
The Securities Exchange Board of India has allowed the introduction of commodity
mutual funds.
The emphasis is being given on the effective corporate governance of Mutual Funds.
The Mutual funds in India has the scope of penetrating into the rural and semi urban
areas.
Financial planners are introduced into the market, which would provide the people with
better financial planning.
Conclusion:
Professional Investment Management. By pooling the money of thousands of
investors, mutual funds provide full-time, high-level professional management that few
individual investors can afford to obtain independently. Such management can be important to
achieving results in today's complex markets.
Mutual funds invest in a broad range of securities. This limits investment risk by
reducing the effect of a possible decline in the value of any one security. Mutual fund
shareowners can benefit from diversification techniques usually available only to investors
wealthy enough to buy significant positions in a wide variety of securities.
Investor Information Shareholders receive regular reports from the mutual funds,
including details of transactions on a year-to-date basis. The current net asset value of your shares (the
price at which you may purchase or redeem them) appears in the mutual fund price listings of daily
newspapers. You can also obtain pricing and performance results for the all mutual funds at this site, or it
can be obtained by phone from the mutual funds.