A mutual fund is a professionally managed firm of collective investments that collects money from many investors and puts it in stocks,bonds, short-term money market instruments, and/or other securities.[1] The fund manager, also known as portfolio manager, trades the fund's underlying securities, realizing capital gains or losses and passing any proceeds to the individual investors. Currently, the worldwide value of all mutual funds totals more than $26 trillion. [2]
Since 1940, there have been three basic types of mutual fund investment companies in the United States. Similar funds also operate in Canada. However, in the rest of the world, mutual fund is used as a generic term for various types of collective investment vehicles, such as unit trusts,open-ended investment companies (OEIC's), and unitized insurance funds.
In India Mutual Funds are Controlled By AMFI
The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders
CONCEPTA Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is then invested in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realised are shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. The flow chart below describes broadly the working of a mutual fund:
Mutual Fund Operation Flow Chart
ORGANISATION OF A MUTUAL FUNDThere are many entities involved and the diagram below illustrates the organisational set up of a mutual fund:
Organisation of a Mutal Fund
ADVANTAGES OF MUTUAL FUNDSThe advantages of investing in a Mutual Fund are:
Professional Management
Diversification
Convenient Administration
Return Potential
Low Costs
Liquidity
Transparency
Flexibility
Choice of schemes
Tax benefits
Well regulated
TYPES OF MUTUAL FUND SCHEMESWide variety of Mutual Fund Schemes exist to cater to the needs such as financial position, risk tolerance and return expectations etc. The table below gives an overview into the existing types of schemes in the Industry.
For More Details Visit
www.amfiindia.comReliance Mutual Fund :
Reliance Mutual Fund (RMF) is one of India’s leading Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 96,386 Crores (AAUM for 30th Apr 08 ) and an investor base of over 65.68 Lakhs.Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. RMF offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 118 cities across the country. Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors. "Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders."Reliance Capital Ltd. is one of India’s leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services.
For More Details :
http://www.reliancemutual.comSBI MUTUAL FUND :
SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track record in judicious investments and consistent wealth creation.
The fund traces its lineage to SBI - India’s largest banking enterprise. The institution has grown immensely since its inception and today it is India's largest bank, patronised by over 80% of the top corporate houses of the country.
SBI Mutual Fund is a joint venture between the State Bank of India and Société Générale Asset Management, one of the world’s leading fund management companies that manages over US$ 500 Billion worldwide.
In twenty years of operation, the fund has launched 38 schemes and successfully redeemed fifteen of them. In the process it has rewarded it’s investors handsomely with consistently high returns.
A total of over 5.4 million investors have reposed their faith in the wealth generation expertise of the Mutual Fund.
Schemes of the Mutual fund have consistently outperformed benchmark indices and have emerged as the preferred investment for millions of investors and HNI’s.
Today, the fund manages over Rs. 51,461 crores of assets and has a diverse profile of investors actively parking their investments across 36 active schemes.
The fund serves this vast family of investors by reaching out to them through network of over 130 points of acceptance, 28 investor service centers, 46 investor service desks and 56 district organisers.
SBI Mutual is the first bank-sponsored fund to launch an offshore fund – Resurgent India Opportunities Fund .
Growth through innovation and stable investment policies is the SBI MF credo.
For More Details :
http://www.sbimf.com/UTI MUTUAL FUND :
Introduction
VisionTo be the most Preferred Mutual Fund.
Our mission is to make UTI Mutual Fund: • The most trusted brand, admired by all stakeholders • The largest and most efficient money manager with global presence • The best in class customer service provider • The most preferred employer • The most innovative and best wealth creator • A socially responsible organisation known for best corporate governance
Genesis Jan 14, 2003 is when UTI Mutual Fund started to pave its path following the vision of UTI Asset Management Company Limited, who has been appointed by the UTI Trustee Pvt. Limited Co. for managing the schemes of UTI Mutual Fund and the schemes transferred/migrated from the erstwhile Unit Trust of India.
The UTI Asset Management Company provides professionally managed back office support for all business services of UTI Mutual Fund (excluding fund management) in accordance with the provisions of the Investment Management Agreement, the Trust Deed, the SEBI (Mutual Funds) Regulations and the objectives of the schemes. State-of-the-art systems and communications are in place to ensure a seamless flow across the various activities undertaken by UTIMF.
UTI AMC is a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 on 3rd February 2004, for undertaking portfolio management services and also acts as the manager and marketer to offshore funds through its 100 % subsidiary, UTI International Limited, registered in Guernsey, Channel Islands.
Assets Under ManagementUTI Asset Management Company presently manages a corpus of over Rs. 48,983 Crores as on 31st Mar' 2008 (source:
www.amfiindia.com). UTI Mutual Fund has a track record of managing a variety of schemes catering to the needs of every class of citizenry. It has a nationwide network consisting 97 UTI Financial Centres (UFCs) and UTI International offices in London, Dubai and Bahrain. With a view to reach to common investors at district level, 3 satellite offices have also been opened in select towns and districts.
We have a well-qualified, professional fund management team, who have been highly empowered to manage funds with greater efficiency and accountability in the sole interest of unit holders. The fund managers are also ably supported with a strong in-house securities research department. To ensure better management of funds, a risk management department is also in operation.
Reliability UTIMF has consistently reset and upgraded transparency standards. All the branches, UFCs and registrar offices are connected on a robust IT network to ensure cost-effective quick and efficient service. All these have evolved UTI Mutual Fund to position as a dynamic, responsive, restructured, efficient and transparent SEBI compliant entity.
For More Details :
http://www.utimf.com/HDFC MUTUAL FUND :
HDFC Asset Management Company Limited (AMC)HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated June 30, 2000. The registered office of the AMC is situated at Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400 020. In terms of the Investment Management Agreement, the Trustee has appointed the AMC to manage the Mutual Fund. As per the terms of the Investment Management Agreement, the AMC will conduct the operations of the Mutual Fund and manage assets of the schemes, including the schemes launched from time to time. The present equity shareholding pattern of the AMC is as follows :
Particulars
% of the paid up equity capital
Housing Development Finance Corporation Limited
60
Standard Life Investments Limited
40Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual Fund, following a review of its overall strategy, had decided to divest its Asset Management business in India. The AMC had entered into an agreement with ZIC to acquire the said business, subject to necessary regulatory approvals. On obtaining the regulatory approvals, the following Schemes of Zurich India Mutual Fund have migrated to HDFC Mutual Fund on June 19, 2003. These Schemes have been renamed as follows:
Former Name
New Name
Zurich India Equity Fund
HDFC Equity Fund
Zurich India Prudence Fund
HDFC Prudence Fund
Zurich India Capital Builder Fund
HDFC Capital Builder Fund
Zurich India TaxSaver Fund
HDFC TaxSaver
Zurich India Top 200 Fund
HDFC Top 200 Fund
Zurich India High Interest Fund
HDFC High Interest Fund
Zurich India Liquidity Fund
HDFC Cash Management Fund
Zurich India Sovereign Gilt Fund
HDFC Sovereign Gilt Fund**HDFC Sovereign Gilt Fund has been wound up in March 2006 The AMC is managing 24 open-ended schemes of the Mutual Fund viz. HDFC Growth Fund (HGF), HDFC Balanced Fund (HBF), HDFC Income Fund (HIF), HDFC Liquid Fund (HLF), HDFC Long Term Advantage Fund (HLTAF), HDFC Children's Gift Fund (HDFC CGF), HDFC Gilt Fund (HGILT), HDFC Short Term Plan (HSTP), HDFC Index Fund, HDFC Floating Rate Income Fund (HFRIF), HDFC Equity Fund (HEF), HDFC Top 200 Fund (HT200), HDFC Capital Builder Fund (HCBF), HDFC TaxSaver (HTS), HDFC Prudence Fund (HPF), HDFC High Interest Fund (HHIF), HDFC Cash Management Fund (HCMF), HDFC MF Monthly Income Plan (HMIP), HDFC Core & Satellite Fund (HCSF), HDFC Multiple Yield Fund (HMYF), HDFC Premier Multi-Cap Fund (HPMCF), HDFC Multiple Yield Fund . Plan 2005 (HMYF-Plan 2005), HDFC Quarterly Interval Fund (HQIF) and HDFC Arbitrage Fund (HAF). The AMC is also managing 8 closed ended Schemes of the HDFC Mutual Fund viz. HDFC Long Term Equity Fund, HDFC Mid-Cap Opportunities Fund, HDFC Fixed Maturity Plans, HDFC Fixed Maturity Plans - Series II, HDFC Fixed Maturity Plans - Series III, HDFC Fixed Maturity Plans - Series IV, HDFC Fixed Maturity Plans - Series V and HDFC Fixed Maturity Plans - Series VI. The AMC is also providing portfolio management / advisory services and such activities are not in conflict with the activities of the Mutual Fund. The AMC has renewed its registration from SEBI vide Registration No. - PM / INP000000506 dated December 8, 2006 to act as a Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 1993. The Certificate of Registration is valid from January 1, 2007 to December 31, 2009.
For More Details :
http://www.hdfcfund.com/LIC MUTUAL FUND :
ife Insurance Corporation of India set up LIC Mutual Fund on 19th June 1989 and contributed Rs. 2 Crores towards the corpus of the Fund. LIC Mutual Fund was constituted as a Trust in accordance with the provisions of the Indian Trust Act, 1882. The settlor is not responsible for the management of the Trust. The settlor is also not responsible or liable for any loss or shortfall resulting in any of the schemes of LIC Mutual Fund.
The Trustees of the LIC Mutual Fund have exclusive ownership of Trust Fund and are vested with general power of superintendence, discretion and management of the affairs of the Trust. LIC Mutal Fund Asset Management Company Ltd. was formed on 20th April 1994 in compliance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993. The Company commenced business on 29th April 1994. The Trustees of LIC Mutual Fund have appointed LIC Mutual Fund Asset Management Company Ltd. as the Investment Managers for LIC Mutual Fund. The Trustees are responsible for appointing a Custodian. The Trustees should also ensure that the activities of the Trust and the Asset Management Company are in accordance with the Trust Deed and the SEBI Mutual Fund Regulations as amended from time to time. The Trustees have also to report periodically to SEBI on the functioning of the Fund.
The investors under the schemes can obtain a copy of the Trust Deed, the text of the concerned Scheme as also a copy of the Annual Report, on a written request made to the LIC Mutual Fund Asset Management Company Ltd. at a nominal price of Rs. 10/-.
For More Details :
http://www.licmutual.com/
Port-Louis naturally grew to be the economic and administrative capital of Mauritius after it superseded Mahebourg in the early eighteenth century because of the superior quality of its harbour. Until the 1860s, when the Suez Canal was built, Port-Louis was the recommended stopover for ships from Europe on their way to India. It was largely because of the safety and activity of Port-Louis, that Mauritius then earned the title of 'Star and Key of the Indian Ocean.' The City of Port-Louis underwent a second birth in the 1980s when post-independence economic stagnation finally gave way to bursting activity. The skyline of Port-Louis has changed dramatically since, and high-rising towers now compete with buildings from the colonial times. Port-Louis is unrecognizably quiet after business hours and on week-ends, except when the Champs-de-Mars hosts the very popular horse races. 
Chateau de Labourdonnais: Privately-owned colonial house dated circa 1850, down the road from Belle-Vue Mauricia to Forbach, Goodlands. 
