15
Mutual Funds
Chapter Objectives
This chapter will enable you to develop an understanding of the following:
Meaning and benefits of mutual funds
History of mutual funds
Growth of mutual funds in India
Types of mutual fund schemes
Net asset value
Organisation of a mutual fund
SEBI guidelines relating to mutual funds
Association of mutual funds in India
Unit Trust of India and US-64
Growth and performance of mutual funds in India
INTRODUCTION
A mutual fund is a financial intermediary that pools the savings of investors for collective investment in a diversified portfolio of securities. A fund is ‘mutual’ as all of its returns, minus its expenses, are shared by the fund's investors.
The Securities and Exchange Board of India (Mutual Funds) ...
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