Historical Evolution of Mutual funds in India: A Global Comparative Analysis

Abstract

Mutual funds collect the savings from the investors and invest into capital market and earn income from it. The earning is distributed among the investors. The story of mutual fund stated from 1774, after the long journey modern mutual fund concept of open-ended introduced by United States in the year1924. After that around the world the concept of collection of money became popular for collect money from investors and mobilized toward economical development of the country. U.S. is the first position in the world of this investment industry. In the year 1964 with establishment of UTI, new industry enters in Indian market. The industry opened for public sector banks, Institutions (1987) and private sector (1993) with this, the industry has undergone spectacular growth in the recent years. In this study try examine the historical evolution of mutual fund in India and compare with top ten countries of the world.