A Study of Mutual Funds in India

Over the last few years, Indian economy and the capital market have witnessed phenomenal changes. One of the important developments has been the growth of mutual funds.Mutual funds,through out the world,are contributing to the growth of economies by channelizing surplus funds from small investors to the corporate sector.This book analyses the growth and pattern of development of mutual funds in India during the period 1964 -2000.It provides a detailed review of literature on performance of mutual funds in India and other developed economies in the world.Select mutual fund schemes have been evaluated simultaneously for selectivity and market timing skills of mutual fund managers.Apart from using the popular measures of performance,a two-step generalized varying parameter estimation process,adopted by Chen and Stockum,has been used to evaluate the selected schemes. This book should help understanding the Indian mutual fund industry and should be useful to researchers,academicians and professionals interested in mutual funds and other managed portfolios.