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The UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a Securities and Exchange Board of India-registered mutual fund as of 1 February 2003. UTI Mutual Fund was launched by the Government of India in 1963, and it is one of the oldest mutual fund companies in India.
Mutual fund statistics. The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$640 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$100 billion) recorded in December 2013. [2]
A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, and also properties, mortgage and cash equivalents
A unit trust is an investment, usually good for beginning investors, that is similar to, but not the same as a mutual fund. Unit trusts pass profits directly to investors instead of reinvesting ...
Unit investment trust. In U.S. financial law, a unit investment trust ( UIT) is an investment product offering a fixed (unmanaged) portfolio of securities having a definite life. Unlike open-end and closed-end investment companies, a UIT has no board of directors. [1] A UIT is registered with the Securities and Exchange Commission under the ...
Investment funds are regulated by the Investment Company Act of 1940, which broadly describes three major types: open-end funds, closed-end funds, and unit investment trusts. Open-end funds called mutual funds and ETFs are common. As of 2019, the top 5 asset managers accounted for 55% of the 19.3 trillion in mutual fund and ETF investments.
A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
U.S.-based closed-end funds are referred to under the law as closed-end companies and form one of three SEC-recognized types of investment companies along with mutual funds and unit investment trusts. Like their better-known open-ended cousins, closed-end funds are usually sponsored by a fund management company.
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