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Economics/Mutual fund in India


Which is the prime mutual fund in India ? Describe the type of funds offered by them ?

Thank you very much for selecting "allexperts" forum and me.

The Unit Trust of India is the prime mutual fund in India.  This is the largest mutual fund in India, formed by the Unit Trust act 1963.  This attracts the savings of small man. Attracts  rural investment.

It Offers 6 Open ended schemes : Unit scheme 1964. Insurance linked scheme of 1971. Charitable & Religious Trust scheme. Capital gain scheme of 1983. Registered society’s scheme of 1981.  Children’s gift scheme of 1987.

Closed ended schemes – Monthly income for senior citizens. Extra bonus scheme. Growth oriended schemes.

There were restrictions on UTI. They were removed, permitting direct lending of funds, bill re-discounting, leasing and housing.  The capital in 1964-65 = 10 crores, 1988-89 it was 3,071 crores, 1990-91 it was 4,122 crores. Currently the capital is about 60,000 crores with 60 schemes.

Offshore funds :  India fund 1986 attracted Non Resident Indian investment. It is quoted in London stock exchange.  Issue price was British Pound 1.93. Limit was 128 Million British Pounds.  

India growth fund 1988 : Issue price was $ 10. It is quoted in Newyork stock exchange. The limit is upto $ 60 million.  

You can go to their Web portal and get many detailed infor mation. Search for "Unit trust of India". You will get many listings.


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