History of Mutual Funds in India


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1963 Establishment of Unit Trust of India
1964 Unit Scheme 1964 launched
1987 Entry of non-UTI, Public Sector mutual funds
1993 Entry of private sector funds

First Mutual Fund regulations came into being

1996 Substitution of prevalent rules by SEBI (Mutual Funds) Regulations 1996
2003 UTI bifurcated into two separate entities

-1964             Specified Undertaking of Unit Trust of India

-1965             UTI Mutual Fund

2004 Existence of 421 schemes, managing assets worth Rs. 153108

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