Performance appraisal in Mutual fund Companies

Indian mutual fund industry came into existence with the establishment of Unit Trust of India in 1964. Unit Trust of India was not efficient enough to expand the mutual fund market. In late 1980¿s nationalized bank sponsored mutual funds came into existence which helped mutual fund industry to expand its market. The private sector mutual fund entered the industry during early 1990¿s with greater variety of products and better services. They introduced different kinds of products satisfying the needs of the different classes of investors. In this study five major players of mutual funds in India are selected namely Reliance mutual fund, HDFC mutual fund, ICICI mutual fund, Birla sun life mutual fund and UTI mutual fund. The selection for the top five companies is made on the basis of asset under management criteria.