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It was incorporated on 22 August 1995, as a non-profit organisation. As of now, 44 Asset Management Companies that are registered with SEBI, are its members. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards. [2]
As an association made up of U.S. investment companies, including mutual funds, closed-end funds, exchange-traded funds (ETFs), and unit investment trusts (UITs), ICI encourages adherence to ethical standards among its members. [7] [8] [9] It advocates for meaningful disclosure for investors from funds and provides investor education.
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$610 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$99 billion) recorded in December 2013.
Mutual funds are good starter investments since they are generally affordable. In addition, the funds are liquid for investors who want to redeem shares for the net asset value.
A mutual fund is a type of pooled investment fund in which many people own shares. Mutual funds invest in many different companies, and some even invest in the entire stock market.
Mutual funds typically pay dividends to shareholders on a predetermined schedule – often quarterly, semi-annually or annually. These dividends come from the stocks and bonds the fund invests in. ...
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