It is not a new thing in the world. This concept has been originated in USA and lately moved towards Uk in 1930’s.This concept introduced in India in 1960’s along with setup of UTI in 1964
What is it
They are actually financial intermediaries in the investment business.Simply they use your funds(along with many other investors) to create a diversified portfolio which is very well managed by the mf company.
It is just like combining the small funds from various small investors and make it big in a unified way and invest it accordingly in a better way.
Objectives are quite clear :
Fulfilling the needs of small in investors who cannot themselves monitor their investement regularly.
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