Abstract
Mutual Fund is a fund establishment in the form of a trust to raise money through the sale of units to the public or a section of the public under one or more schemes for investing in securities, including money market instrument. The investors want to know about the present and past performance of the selected mutual funds. This information must be supported by certied documents. The system of accounting for Mutual Fund is different from conventional system of accounting which is followed in industrial sectors. Hence, only proper accounting for mutual funds can show the real picture of risk and return of a specic mutual fund. An investor may compare accounting information relating to a mutual fund with its benchmark return. He can do the comparison with condence on the basis of audited report of a particular fund. Moreover proper system of mutual fund accounting leads the fund manager to minimize cost
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