Comparison of financial performance Of sectoral mutual funds in india an Empirical study

Abstract

The mutual fund business was incepted in India in the year 1963 by newlineformation of Unit Trust of India UTI UTI was the monopoly institution newlineinvolved in mutual fund business until 1987 From 1987 public sector mutual newlinefunds was set upped Later in 1993 private sector was permitted to enter into newlinemutual fund industry There was a drastic change in mutual fund regulation newlinethereafter Security Exchange Board of India SEBI an apex body to monitor newlinecapital market was established The industry started functioning under the newlineSEBI Mutual Fund Regulations 1996 newlineIndia at present is emerging as one of the fastest growing economy newlineof the world Foreign investors are finding Indian market with high potential newlineIt is the financial market which finances economic development main newlinerole of financial market is to channelise the savings of the people into the newlineinvestment Indian financial markets are getting more and more newlineinstitutionalized newlineNow a days investors are showing more interest to invest in shares newlineand mutual funds Comparing to shares investment in mutual funds have less newlinerisk But due to high volatility in the share market there is a equivalent newlinechange in the net asset value of mutual funds It is very difficult to select the newlinebest mutual fund based on risk and return The researcher has attempted to newlinestudy the performance of the mutual funds and rank the funds This will help newlinethe investors to select the best fund based on risk and return ranked by the newlineresearcher The study has also attempted to identify the fund attributes that newlinehave an impact on returns The mutual fund industry is becoming more newlinecompetitive The asset management company needs to know about the newlinecompetition to understand the conduct of the mutual fund industry newline