A project report on performance evaluation of sectoral mutual fund
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1. GROWTH OF MUTUAL FUNDS IN INDIA BY, PRATUL BALDEWA LOKAMANYA TILAK P.G COLLEGE
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4. History of Mutual Fund The concept of mutual fund by UTI in the year 1963. Though the growth was slow, but it accelerated from the year 1987 when non-UTI players entered the industry. The mutual fund industry can be broadly put into four phases according to the development of the sector.
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6. The first scheme launched by UTI was Unit Scheme 1964.
7. In 1978 UTI was de-linked from the RBI and the Industrial Development Bank of India (IDBI) took over the regulatory and administrative control in place of RBI.
13. Fourth Phase - since February 2003 This phase had bitter experience for UTI. It was bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust of India with AUM of Rs.29,835 crores (as on January 2003). The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is registered with SEBI and functions under the Mutual Fund Regulations. With the bifurcation of the erstwhile UTI which had in March 2000 more than Rs.76,000 crores of AUM and with the setting up of a UTI Mutual Fund,
20. OBJECTIVES OF AMFI It recommends and promotes the top class business practices and code of conduct. AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual fund industry. AMFI represent the Government of India, the RBI a and other related bodies on matters relating to the Mutual Fund Industry. It develops a team of well qualified and trained Agent distributors. AMFI undertakes all India awareness programme.
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