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A mutual fund is an investment fund that pools money from many investors to purchase securities.The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
Investors can redeem shares directly with the fund at any time (similar to an open-end fund) or wait to redeem them upon the trust's termination. Less commonly, they can sell their shares in the open market. Unlike other types of mutual funds, unit investment trusts do not have a professional investment manager.
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol manages and invests, typically on behalf of its clients. [1]
ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between ICICI Bank and Prudential plc. [4] It is the second-largest asset management company in India after the SBI Mutual Fund .
ET Money is an Indian fintech and wealth management platform which was founded in 2015 . [2] It offers a variety of financial products and services, including mutual funds, insurance, fixed deposits, NPS and SIPs. [3]
SBI Mutual Fund is an Indian private asset management company [6] introduced by the State Bank of India (SBI) and incorporated in 1987 with its corporate head office located in Mumbai, India. SBIFMPL is a joint venture between the State Bank of India , an Indian public sector bank , and Amundi , a European asset management company.
Considering the active schemes, UTI Mutual Fund is one of the oldest mutual fund companies in India. UTI Mutual Fund has been a pioneer in launching various schemes, such as the UTI Unit Linked Insurance Plan (ULIP) with life and accident cover (launched in 1971), UTI Master Share (launched in 1986), India's first Offshore Fund – India Fund ...