Mutual Funds Industry: Issues and Experiences

by Jayanta Kumar Seal, Tamal Datta Chaudhuri

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The Indian Mutual Fund Industry has come of age. It has grown over the years in terms of total assets under management (AUM), number of AMCs, number of schemes and types of schemes aimed at different segments of households with varying risk appetite. Mutual funds hold a significant share in total funds deployed in the capital market. It has grown to such an extent that a separate regulatory body is being contemplated for this industry. However, this industry is still urban-oriented with a few major cities contributing to its growth. The extent of penetration in the rural and semi-urban areas is low and thus investor education has been chosen to be a major thrust area by the Association of Mutual Funds in India (AMFI). The purpose of the book is investor education. It blends in well with the current thought process between AMFI and Mutual Fund Managers that in order to increase fund penetration, investor education is a prerequisite. It deals with contemporary issues in this field and makes cross-country comparisons. The need for new generation products and how the developments in the macroeconomy help in the process are analysed. Performance of schemes introduced recently like Real Estate Funds, Country Funds, Thematic Funds, Value Funds, Fund of Funds, Capital Protection Funds, Gold ETFs etc., are explained with a detailed account of the schemes and their characteristics. It is hoped that this book will make the reader thoroughly conversant with this industry.

ABOUT THE AUTHOR Jayanta Kumar Seal

Jayanta Kumar Seal holds a doctoral degree in Finance from the Rabindra Bharati University and holds an M.Phil degree in Finance and Accounting from the University of Calcutta. He is presently working as a Faculty Member at the Icfai Business School, Kolkata. Prior to joining Icfai, he was faculty in the Vivekananda College, Kolkata. He regularly contributes articles to various refereed journals. He has more than ten years of teaching experience at various academic as well as management institutions. His areas of interest are in corporate finance, portfolio management, security analysis and cost accountancy.

ABOUT THE AUTHOR Tamal Datta Chaudhuri

Tamal Datta Chaudhuri did his Masters in Economics from Calcutta University. He obtained his PhD from Johns Hopkins University, USA. He taught in Calcutta University for a period of ten years. He then joined Industrial Investment Bank of India Ltd., (IIBI) where he is currently serving as Chief General Manager. He has been associated with Icfai Business School from 1997 as Adjunct Faculty. He has taught in other management schools like IISWBM, NIMC, IIMC, ISI, and Towson State University, Maryland. He was a Visiting Fellow in University of Illinois, Urbana Champaign, USA. He has contributed several papers to various domestic and foreign journals, and a few papers to edited books.