Abstract
The mutual fund industry in India has emerged as a dominant financial intermediary in Indian capital market. As of April 2014, the industry comprising of 45 Asset Management Companies managed financial assets of Rs. 14000 billions contributed by 80 million investors spread all over the country. Majority of the funds (approximately) 96% of the funds are open-ended type and the remaining 4% of the funds are close-ended type. The assets have been grown at a compounded annualized growth rate of 48 per cent over a period of five decades, 1964–2014 of mutual funds in the country (as per figure available from association of mutual funds in India). The impressive growth can be attributed to the entry of commercial banks and the private players in mutual funds industry coupled with the rapid growth of the Indian capital markets during the last couple of years.
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