The Indian mutual fund industry is passing through a transformation, adapting to the various regulatory changes. In today’s volatile market environment, mutual funds are looked upon as a transparent and low cost investment vehicle, which attracts a fair share of investor attention promoting the growth of the industry. Mutual funds as an investment vehicle have gained immense popularity in the current scenario, which is clearly reflected in the robust growth levels of assets under management.
A financial system plays a vital role in the economic growth of a country. It intermediates between the flow of funds belonging to those who save a part of their income and those who invest in productive assets. The mutual fund functions as a link between the investor and the securities market by mobilizing savings from the investors and investing them in securities market to generate returns. The Indian mutual fund industry is one of the fastest growing and most competitive segments of the financial sector.
The Unit Trust of India was the first mutual fund set up in India in the year 1963. In the early 1990s, the government allowed public sector banks and institutions to set up mutual funds. To protect the interests of the investors, SEBI first notified regulations for mutual funds in 1996. At a later stage mutual funds sponsored by private sector entities were allowed to enter the market. Over time, the number of asset management companies have increased to approximately 51 to 55.
This study is an attempt to examine the growth of the mutual funds in Indian industry. Objective of this research paper is to overview of growth of Mutual Fund s in India during 2009-10 to 2013-14. Growth of Indian mutual funds is presented by five parameters: 1. Asset Under Management 2. Resource Mobilisation by Private and Public sector 3. Trends in transactions on stock exchanges by mutual funds 4. Scheme-wise resource mobilization 5. Number of Schemes and folios. This research study first provides an overview of the assets managed within India's mutual fund market.
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