This document provides an overview of mutual funds including what they are, how they work, and asset under management statistics. The key points are: - A mutual fund is a trust that pools investments from many investors who share a common financial goal. It invests the money in securities like stocks and bonds. - Investors purchase units of a fund and share proportionally in its income, capital gains, and losses. - As of March 2011, the total assets under management across mutual funds in India was over Rs. 7 trillion. Equity funds made up the largest portion at over Rs. 554 billion.