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Investment Models in the Mutual Fund Industry - by Sarthak Kumar Rath * Part - I The mutual fund industry in India started with the setting up the Unit Trust Of India in 1963 at the initiative of the Government of India and the Reserve Bank Of India. The first mutual fund scheme that was floated in India was US-64 in 1978.With the opening up of the industry to private players and foreign institutions in 1993 gave the Indian investors a wide choice of fund families to choose from. The total assets under management in the Indian mutual fund industry have grown from a meager 25 crores to 1,21,778 crores (Refer Graph 1). The government of India has given a boost to the development of the mutual fund industry by offering sops in the form of tax incentives. This has enabled the mutual funds to play an important role in the mobilization of savings and in the development of the financial market.
Graph 1 * Contributed by - |
