This revised edition of a widely appreciated book provides fund managers and investors with a thorough analysis of mutual funds as important financial intermediaries. Immensely popular, yet controversial as investment vehicles, mutual funds experienced tremendous growth when they entered India’s financial services sector. However, the recent slump in the mutual funds market reveals that the Indian investor is still unable to fully comprehend the intricacies of investing in these complex and sophisticated investment options. Drawing on years of managerial experience in mutual funds backed by meticulous research, Dr Sadhak lucidly explains the characteristics of mutual funds, and the benefits/risks of investing in them. In addition, he describes recent changes in regulatory practices, marketing strategies, investment management, products, distribution, and service delivery systems. Several improvements in the strategic and operational practices of mutual funds are suggested keeping in mind the mechanisms used by fund managers in developed economies. These include: Stronger supervisory norms. Improved standards of disclosure and managerial accountability. Planning for risk minimization as also business cycles and liquidity management and investment strategies. Strategies for product development, market expansion and improvement in service standards. Measures to improve operational efficiency. Further, in the context of extreme market volatility, the book discusses the self-regulatory organization (SRO), corporate governance and related fiduciary responsibilities in mutual funds.This comprehensive and well-researched book in a must for practising managers in the financial services industry including fund managers, portfolio managers and investment mangers. Researchers and students of merchant banking and financial services as well as the individual investor will also find it immensely useful.
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