{"id":15855,"date":"2022-09-02T15:00:19","date_gmt":"2022-09-02T09:30:19","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=15855"},"modified":"2022-09-02T15:18:48","modified_gmt":"2022-09-02T09:48:48","slug":"history-of-mutual-funds-in-india","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/","title":{"rendered":"History Of Mutual Funds In India"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d3f7aaa2b5d\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d3f7aaa2b5d\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/#What_are_mutual_funds\" title=\"What are mutual funds?\">What are mutual funds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/#Formation_and_history_of_mutual_funds_in_India\" title=\"Formation and history of mutual funds in India\">Formation and history of mutual funds in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/#What_makes_mutual_funds_better_than_other_investments\" title=\"What makes mutual funds better than other investments\">What makes mutual funds better than other investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/#Best_performing_AMC_in_India\" title=\"Best performing AMC in India\">Best performing AMC in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/#Current_status_of_Mutual_funds_in_India\" title=\"Current status of Mutual funds in India\">Current status of Mutual funds in India<\/a><\/li><\/ul><\/nav><\/div>\n<p><span data-preserver-spaces=\"true\">The mutual funds industry is one of the fastest-growing industries in the Indian investment sector. They have become immensely popular amongst the newer generation of investors.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">The asset under management by the mutual fund as on July 2012, was $7.30 trillion, this increased 5 times in the next 10 years to $<\/span><span data-preserver-spaces=\"true\">37.75 trillion by 31st July 2022.<\/span><span data-preserver-spaces=\"true\">\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">This shows that investment in mutual funds is constantly increasing and is expected to grow in the future as well. This is also because mutual funds are one of the most beginner-friendly investments out there.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"What_are_mutual_funds\"><\/span><span data-preserver-spaces=\"true\">What are mutual funds?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">A mutual fund is basically when you pool money from a lot of investors with common investment objectives and invest it in a diversified portfolio. This fund is managed by professional fund managers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">These fund managers work for Asset Management Company or AMC. Each AMC will have different mutual fund schemes with different investment objectives. You will have to choose the scheme you want to invest in depending on your investment goals.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">The money is invested in securities like stocks, bonds, money market instruments, and other assets depending on the investment objectives of the investor. <a href=\"https:\/\/kuvera.in\/blog\/what-are-the-different-types-of-mutual-funds-in-india\/\">Click here<\/a>\u00a0to read about the various types of mutual funds available in India and their benefits.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4><strong><a href=\"https:\/\/kuvera.in\/fixed-deposit\/all\"><img loading=\"lazy\" class=\"alignnone wp-image-14483\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1-300x98.jpg\" alt=\"kuvera-fixed-deposit-online\" width=\"400\" height=\"130\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1-300x98.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1-1024x334.jpg 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1-768x250.jpg 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1-150x49.jpg 150w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/08\/fd-blog-01-1.jpg 1080w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/a><\/strong><\/h4>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Formation_and_history_of_mutual_funds_in_India\"><\/span><span data-preserver-spaces=\"true\">Formation and history of mutual funds in India<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The government of India along with the Reserve bank established the <\/span><span style=\"font-weight: 400;\">first mutual fund in India<\/span><span style=\"font-weight: 400;\"> in 1963 called Unit Trust Of India (UTI).\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-15858\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/UTIMF-300x300.png\" alt=\"First mutual fund in India\" width=\"300\" height=\"300\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/UTIMF-300x300.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/UTIMF-150x150.png 150w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/UTIMF-96x96.png 96w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/UTIMF.png 512w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Initially, it was regulated by the RBI but in 1978, Industrial Development Bank of India (IDBI) took over the regulatory role of UTI.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The purpose of UTI was not just to introduce the concept of <\/span><span style=\"font-weight: 400;\">mutual fund in India<\/span><span style=\"font-weight: 400;\"> but also to encourage small investors to take active participation in the investment process.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The government introduced many tax rebates for<\/span><span style=\"font-weight: 400;\"> investing in mutual funds<\/span><span style=\"font-weight: 400;\"> and it worked. By 1988, UTI was managing <\/span><span style=\"font-weight: 400;\">\u20b9 <\/span><span style=\"font-weight: 400;\">6,700 crores.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Up until this time, UTI was the only entity operating with mutual funds. But, due the success of the mutual funds many public sector banks and insurance companies also started demanding the government to be allowed to have their own mutual fund division.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As a result, SBI was the first \u2018non-UTI\u2019 entity to have its own mutual fund in June 1987. By the end of 1993, the Asset Under Management (AUM) by the mutual fund industry was <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\"> 45,000 crore.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">After 1991, when the government liberalized the economy, the private sector started entering the mutual fund industry as well. During this time Securities Exchange Board Of India or SEBI was also set up to protect the interest of Indian investors.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In 1999, the government exempted all dividends earned from mutual funds from income tax.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">While the mutual funds industry has experienced setbacks over the years like the recession of 2009, it has also been able to recover from it.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"What_makes_mutual_funds_better_than_other_investments\"><\/span><strong><span data-preserver-spaces=\"true\">What makes mutual funds better than other investments<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The major reason why mutual funds became so successful in India is large that it is one of the most beginner-friendly investment options available. Here are a few other reasons which make mutual funds a good investment:\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">The government of India along with SEBI has constantly encouraged the growth of the mutual fund industry and promoted it beyond tier I cities.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Mutual funds are also highly regulated by SEBI and there are stringent laws in place to protect the interest of investors.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-15859\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/SEBI-LOGO-1.jpg\" alt=\"sebi regulates MF in India\" width=\"400\" height=\"240\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/SEBI-LOGO-1.jpg 290w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/SEBI-LOGO-1-150x90.jpg 150w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">They are managed by professional fund managers who are legally required to work for the benefit of the investors. This means individual investors don\u2019t have to put in time and effort to buy, sell or monitor investments.\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Open-ended mutual funds can be easily redeemed if there is an emergency need for funds. The amount will be credited to your account within 3-4 business days. However, if the mutual fund is a close-ended mutual fund, then the amount can only be withdrawn at the time of maturity.\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Mutual funds qualify for tax benefits up to \u20b91,50,000 under section 80C of the Income Tax Act. Long-term investments in mutual funds are very tax efficient.\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">They are affordable as compared to other forms of investments. You can start a SIP at \u20b9100 only.\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">One of the best advantages of mutual funds is the easy diversification it offers. You can easily diversify your investments across equity, debt, and other types of investments which decreases the risk of losses significantly.\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">You can also easily invest in mutual funds online these days.\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/blog\/how-can-you-invest-in-mutual-funds-online\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Here\u2019s<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0a detailed guide on how you can invest in mutual funds online.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Best_performing_AMC_in_India\"><\/span><strong><span data-preserver-spaces=\"true\">Best performing AMC in India<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Asset Management Companies (AMC) are the companies that handle all the money of the investors and employ professional fund managers to manage various mutual fund schemes. A trustworthy AMC is crucial to safeguard your investment interest. Here are some of the best-performing AMCs in India:<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">SBI Mutual Fund<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">ICICI Prudential Mutual Fund<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">HDFC Mutual Fund<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Reliance Mutual Fund<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Nippon India Mutual Fund<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Current_status_of_Mutual_funds_in_India\"><\/span><b>Current status of Mutual funds in India<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Mutual funds have seen a tremendous growth post demonetisation. Various awareness programmes like \u2018Mutual funds sahi hai\u2019 by AMFI and the invention of SIP (Systematic Investment Plan) have created awareness and a pattern of disciplined investment amongst the investors.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Small and medium level investors have benefited greatly due to mutual funds and even created substantial wealth over the years. An investor with only <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">1000 investment per month starting from the 1990s would have created about <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">1 crore of wealth by now.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The mutual fund industry is expected to grow manifold in the coming years. With continuous support from SEBI and a new generation of financially aware and technologically savvy investors the golden days of mutual funds in India are yet to come.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Read more:\u00a0<a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>Watch\/hear on YouTube: Stocks Vs. Mutual Funds, Which is better?<\/p>\n<p>&nbsp;<\/p>\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/N1li1d9X0jw\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\">&lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&gt;\ufeff&lt;\/span&gt;&lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&gt;\ufeff&lt;\/span&gt;<\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit\u00a0<a href=\"https:\/\/app.kuvera.in\/\">Kuvera.in<\/a>\u00a0to discover\u00a0<a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\">Direct Plans<\/a>\u00a0and\u00a0<a href=\"https:\/\/app.kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a>\u00a0and\u00a0<a href=\"https:\/\/kuvera.in\/user\/login\">start investing today.<\/a><\/p>\n<p>#MutualFundSahiHai #KuveraSabseSahiHai!<\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mutual funds industry is one of the fastest-growing industries in the Indian investment sector. They have become immensely popular amongst the newer generation of investors.\u00a0 &nbsp; The asset under management by the mutual fund as on July 2012, was $7.30 trillion, this increased 5 times in the next 10 years to $37.75 trillion by [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/history-of-mutual-funds-in-india\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":15860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[1275,1479,1480,1237,1478,1483,1481,1484,1482],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>History Of Mutual Funds In India<\/title>\n<meta name=\"description\" content=\"Unit Trust of India (UTI) was the first company to set up mutual funds in India in 1963. 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