The concept of mutual funds is not new in India. UTI started India's first mutual fund in 1964 to mobilize household savings and investing the funds in capital markets. There are many type of mutual funds like equity, debt, balanced etc. SEBI has issued guidelines for the working of mutual funds. There are various risks associated with them but the returns are also high. The growth which accrues by investing in mutual funds is adding to the importance of mutual funds. Association of Mutual Funds (AMFI)has been created in 1995 to maintain professional and healthy environment in the market. Many companies like ABN AMRO, HDFC,UTI,TATA, ICICI are operating in this field. The Indian mutual fund industry has evolved from a single player monopoly in 1964 to a fast growing, competitive market on the back of a strong regulatory framework. The growth in this sector is tremendous and in future it has great prospects. Though, there are certain obstacles in the growth of mutual funds yet, regulatory framework and global competition will certainly improve upon. I Hope that this analysis will definitely contribute to the research by academicians,industry practitioners and students on the topic.
Mutual funds in India: a comprehensive review is an outcome of extensive research work carried out by Dr. Bhavinkumar A. Patel. The basic objectives of this book includes (A) In-depth analysis of mutual fund industry in India (B) Performance evaluation of selected growth oriented schemes operating in India by different blue chip companies and (C) Analysis of perception of investors, brokers and fund managers. This book focuses on the real life growth and development of the mutual fund industry in India considering different parameters like Assets Under Management (AUM), fund mobilized, redemption and repurchase of funds, total schemes launched and in operation under different categories, analysis of growth oriented mutual fund schemes by applying well established measures like Sharpe, Treynor, Jensen and Fama's Net Selectivity. Moreover, it also highlight the perception of investing community and mutual fund professionals. This book would surely provide strong platform to students and professors of finance, mutual fund research scholars, practicing mutual fund professionals and investing community at large.
John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today's turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term. Written by respected mutual fund industry legend John C. Bogle Discusses the timeless fundamentals of investing that apply in any type of market Reflects on the structural and regulatory changes in the mutual fund industry Other titles by Bogle: The Little Book of Common Sense Investing and Enough. Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the Second Edition of Common Sense on Mutual Funds.
Mutual funds serve those individuals inclining to invest but lack the technical investment expertise. However, potential investors are perplexed while choosing the right scheme at the time of investment. This concise and compact text has identified mutual funds as less risky compared to equity shares. This book brings to light the panorama of Mutual fund industry in the world and in India. The book also discusses in detail the method of evaluating growth schemes, opinion of fund managers, brokers and investors. It would be best suited to fund managers to identify the determinants of success for mutual funds; attitude of investors towards mutual funds, factors contributing towards satisfaction of unit holders. It would be of great guide to students intending to carryout research relating to mutual funds. It would be an asset to the potential investors to know the criteria’s for choosing mutual fund organization and schemes. This book will highlight the policy makers the need to take steps to increase the attractiveness of mutual funds among investors.
"The Mutual Fund Industry Handbook is a remarkably important work . . . I am profoundly impressed by the broad and comprehensive sweep of information and knowledge that this book makes available to industry participants, college and business school students, and anyone else with a serious interest in this industry." – From the Foreword by John C. Bogle President, Bogle Financial Markets Research Center Founder and former chief executive, The Vanguard Group A Foreword by John C. Bogle, founder of The Vanguard Group and one of the most respected leaders in the mutual fund industry, sets the stage for this authoritative book that explains the complexities of the phenomenal industry in simple terms. Investors like the fact that mutual funds offer professional management, easy diversification, liquidity, convenience, a wide range of investment choices, and regulatory protection. Mutual Fund Industry Handbook touches on all of those features and focuses on the diverse functions performed in the day-to-day operations of the mutual fund industry. You'll learn about: Front-office functions-analysis, buying, and selling. Back-office functions, including settlement, custody, accounting, and reporting. Commission structures-front-end loads, back-end loads, or level loads. The various fund categories used by the Investment Company Institute, Morningstar, and Lipper. The roles played by fund managers, investment advisors, custodial banks, distributors, transfer agents, and other third-party service providers. If you want a definitive reference on the mutual fund industry, this is the book for you.
This book is about investors’ perception on mutual fund schemes. The focus of this book is on the mutual funds and investment behavior. This book discusses the evolution & growth of mutual fund industry in India, investors’ behavior on their saving pattern, investors’ awareness on the mutual funds and adoption of mutual funds. The basic purpose of the book is to assist the reader to know about mutual fund industry and understanding the behavior of different aged investors. This book contains the history of mutual fund industry in India and personal & family, educational considerations effect on investors’ perception in choosing the mutual funds are helpful to the reader in making financial decisions. The perceptions are made clear in simple language before introducing complicated analysis. For a better and easy understanding of the perceptions and analysis, the book contains illustrative diagram and hypothetical as well as real life financial problems with suggested and solutions. This will facilitate the reader enhanced understanding of the subject.
A guide to how your money is managed, with foreword by Nobel laureate Robert Shiller The Fund Industry offers a comprehensive look at mutual funds and the investment management industry, for fund investors, those working in the fund industry, service providers to the industry and students of financial institutions or capital markets. Industry experts Robert Pozen and Theresa Hamacher take readers on a tour of the business of asset management. Readers will learn how to research a fund and assess whether it's right for them; then they'll go behind the scenes to see how funds are invested, sold and regulated. This updated edition expands coverage of the segments of the industry where growth is hottest, including hedge funds, liquid alternatives, ETFs and target date funds—and adds an introduction to derivatives. Mutual funds are a key component of financial planning for 96 million Americans. Nearly a quarter of U.S. household savings are invested in funds, which give individual investors affordable access to professional management. This book provides a detailed look at how firms in the industry: Invest those savings in stocks and bonds Evaluate the risks and returns of funds Distribute funds directly to consumers or through financial advisors or retirement plans Handle the complex operational and regulatory requirements of mutual funds Vote proxies at the annual meetings of public companies Expand their operations across borders Along the way, the authors describe the latest trends and discuss the biggest controversies—all in straightforward and engaging prose. The Fund Industry is the essential guide to navigating the mutual fund industry.
The present study examines the behaviour of Mutual Funds Investors in Tamil Nadu and this study is an analytical one. The mutual fund industry has been gaining maturity and hence it is important to know how the Indian investors perceive the mutual funds and what their investment preferences are. This study would help the policy makers in designing appropriate mutual fund schemes to cater to the needs and preferences of Indian investors of different segments of mutual funds.
The prime objective of this book is to provide its readers with a full comprehensive text and contents of performance of mutual funds in India that covers the growth and development of Indian mutual fund industry, investment pattern of selected mutual fund schemes, evaluation of public and private sector mutual fund schemes and market timing ability. The contents of the book fulfill the requirement of the Doctoral Degree, Master of Business Administration, Master of Commerce and Bachelor of business Administration students. There are five chapters in the book with comprehensive coverage, examples, diagrams and tables.
Indian Mutual Fund industry has long history of over six decades. Mutual funds being the combination of various savings instruments are regarded as the ideal investment vehicle for retail investors in modern and complex financial scenario. Considering this, mutual fund investments should be popular and widespread among Indian retail investors. As per 2011 statistics, there are only 10.5 million households are investing in Mutual Funds. Mutual funds and retail investors are like “made for each other”, therefore, the poor participation of retail investors in them is a curious and surprising phenomenon. Researcher is curious to find the reason behind lower Mutual Fund penetration in Indian markets. This curiosity shoved researcher to study Indian mutual fund distribution intermediaries. This book is the result of this research endeavor.
Over the last few years, Indian economy and the capital market have witnessed phenomenal changes. One of the important developments has been the growth of mutual funds.Mutual funds,through out the world,are contributing to the growth of economies by channelizing surplus funds from small investors to the corporate sector.This book analyses the growth and pattern of development of mutual funds in India during the period 1964 -2000.It provides a detailed review of literature on performance of mutual funds in India and other developed economies in the world.Select mutual fund schemes have been evaluated simultaneously for selectivity and market timing skills of mutual fund managers.Apart from using the popular measures of performance,a two-step generalized varying parameter estimation process,adopted by Chen and Stockum,has been used to evaluate the selected schemes. This book should help understanding the Indian mutual fund industry and should be useful to researchers,academicians and professionals interested in mutual funds and other managed portfolios.
The book highlighted the importance of mutual fund investments in general. In few years Mutual Fund has emerged as a tool for ensuring one’s financial wellbeing. Mutual Funds have not only contributed to the India growth story but have also helped families tap into the success of Indian Industry. As information and awareness is rising more and more people are enjoying the benefits of investing in mutual funds. The main reason the number of retail mutual fund investors remains small is that nine in ten people with incomes in India do not know that mutual funds exist. But once people are aware of mutual fund investment opportunities, the number who decide to invest in mutual funds increases to as many as one in five people. The trick for converting a person with no knowledge of mutual funds to a new Mutual Fund customer is to understand which of the potential investors are more likely to buy mutual funds and to use the right arguments in the sales process that customers will accept as important and relevant to their decision.
Financial sector liberalization was one of the major reforms, which have taken place in majority of the developing countries in the eighties. The major objectives of financial sector reform were to improve the allocative efficiency of resources and to accelerate the growth process of the real sector by removing structural deficiencies affecting the performance of financial institutions and financial markets. Internationally mutual funds are key contributors to the globalization of financial market and one of the main source of capital flows to emerging economies. Mutual funds in developed countries have become one of the main instruments for investing in emerging markets. The mutual fund industry is among the most successful recent financial innovation. The present research work is an attempt to analyse and compare different mutual fund schemes on various Yadsticks which helps in determining the future trends in mutual fund industry.
A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realised are shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. Mutual Funds have played an important role in the growth of Indian Economy especially in Post Liberalization era (1991 onwards). Many ups and downs have been seen in the market since then. The book is a compilation of the ideas, thoughts and experiences of Mutual Funds in the Indian Economy and gives the glimpse of the Analysis and Performace in the selected Mutual funds. The book also help the researchers to frame the research plan on the strong fundamentals of Mutual Fund industry in future.