Unit Trust of India is the first Mutual Fund set up under a separate act, UTI Act in 1963, and started its operations in 1964 with the issue of units under the scheme US-64
In the year 1987 Public Sector banks like State Bank of India, Punjab National Bank, Indian Bank, Bank of India, and Bank of Baroda have set up mutual funds.
Apart from these above mentioned banks Life Insurance Corporation [LIC] and General Insurance Corporation [GIC] too have set up mutual funds
With the entry of Private Sector Funds a new era has started in Mutual Fund Industry [ex:- Reliance Mutual Fund, Deutsche Mutual Fund, ICICI Mutual Fund, HDFC Mutual Fund etc]
Which are the other institutions that have floated Mutual Funds in India?
Currently public sector banks like SBI, Canara Bank, ICICI, HDFC, institutions like IDBI, LIC Foreign Institutions like Alliance, Morgan Stanley, Templeton and Private financial companies like Kothari Pioneer, DSP Merrill Lynch, Sundaram, Kotak Mahindra etc. have floated their own mutual funds
How many Mutual Funds are there in India currently?
Presently there are 38 Mutual Funds in India and close to 400 mutual fund schemes.
Why has the concept of mutual funds taken so long to pick up in India?
Even in the US the concept of mutual funds has started picking up only in the last decade. This whole process of investor education and investor awareness takes a lot of time. But Indian investors are now beginning to understand the benefits of investing through the mutual funds route and hence the collections are beginning to pick up
What is the total size of the mutual fund sector in India?
Currently the total funds under mutual fund management in India are a little over Rs. 2, 65,805 crores as on June 2006*. Out of this UTI accounts for nearly 70 percent while the private funds account for around 22 percent. The balance 8 percent is managed by mutual funds floated by public sector banks and financial institutions.
In the year 1987 Public Sector banks like State Bank of India, Punjab National Bank, Indian Bank, Bank of India, and Bank of Baroda have set up mutual funds.
Apart from these above mentioned banks Life Insurance Corporation [LIC] and General Insurance Corporation [GIC] too have set up mutual funds
With the entry of Private Sector Funds a new era has started in Mutual Fund Industry [ex:- Reliance Mutual Fund, Deutsche Mutual Fund, ICICI Mutual Fund, HDFC Mutual Fund etc]
Which are the other institutions that have floated Mutual Funds in India?
Currently public sector banks like SBI, Canara Bank, ICICI, HDFC, institutions like IDBI, LIC Foreign Institutions like Alliance, Morgan Stanley, Templeton and Private financial companies like Kothari Pioneer, DSP Merrill Lynch, Sundaram, Kotak Mahindra etc. have floated their own mutual funds
How many Mutual Funds are there in India currently?
Presently there are 38 Mutual Funds in India and close to 400 mutual fund schemes.
Why has the concept of mutual funds taken so long to pick up in India?
Even in the US the concept of mutual funds has started picking up only in the last decade. This whole process of investor education and investor awareness takes a lot of time. But Indian investors are now beginning to understand the benefits of investing through the mutual funds route and hence the collections are beginning to pick up
What is the total size of the mutual fund sector in India?
Currently the total funds under mutual fund management in India are a little over Rs. 2, 65,805 crores as on June 2006*. Out of this UTI accounts for nearly 70 percent while the private funds account for around 22 percent. The balance 8 percent is managed by mutual funds floated by public sector banks and financial institutions.
No comments:
Post a Comment