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Project -Project report on Mutual Fund
« on: January 02, 2013, 04:30:03 AM »
Project report on Mutual Fund

Project report on Mutual Fund


The mutual fund industry in india began with the setting up of the Unit Trust of  india (UTI) in 1964 by the Government of India.  Till the year 2000, UTI has grown to be a dominant player in the industry with the assets of over Rs. 76,547 crores as of March 31, 2000.  the UTI is governed by a  special legislation, the Unit Trust of India Act, 1963.  in 1987 public sector banks and insurance companies were permitted to set up mutual funds.  Also the two insurance companies LIC and GIC established mutual funds.  Securities Exchange Board of India (SEBI) formulated the Mutual Fund (Regulation) 1993,  which for the first time established a comprehensive regulatory framework for the mutual fund industry.  Since then several mutual funds have been set up by the private and the joint sectrors.


Growth of Mutual Funds


The Indian Mutual Fund has passed through three phases.  The first phase was between 1964 and 1987 and the only player was the Unit Trust of India, which had a total assets of Rs. 6700 crores at the end of 1988.  The second phase is between 1987 and 1993 in which period 8 funds were established (6 by banks and one each by LIC and GIC).  The total assets under management had grown to rs. 61028 crores at the end of 1994 and the number of schemes were 167.


The third phase began with the entry of private and foreign sectors in the Mutual Fund industry in 1993.  Kothari Pioneer Mutual Fund was the first fund to be established the private sector in association with a foreign fund.  At the end of financial year 2000 (31st March) funds were functioning with Rs. 113005 crores as total assets under management.  As on August end 2000 there were 33 funds with 391 schemes and assets under management with Rs. 102849 crores.


As you probably know, mutual funds have become extremely popular over the last 20 years. What was once just another obscure financial instrument is now a part of our daily lives. More than 80 million people, or one half of the households in America, invest in mutual funds  That means that, in the United States alone, trillions (yes, with a "T") of dollars areinvested in mutual funds.
 In fact, to many people, investing means buying mutual funds. After all, it's common knowledge that incesting in mutual funds is (or at least should be) better than simply letting your cash waste away in a savings account, but, for most people, that's where the understanding of funds


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Source: Project report on Mutual Fund

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Project -Project report on Mutual Fund
« on: January 02, 2013, 04:30:03 AM »

 
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