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Erstwhile Unit Trust of India was bifurcated with the non-NAV based schemes brought under the government purview and other under the purview of SEBI. While the former came under the Administrator of the Specified Undertaking of The Unit Trust of India (SUTTI) and the latter became the asset manager, UTI Mutual Fund. [7] [8] [9]
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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$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
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, [1] and also properties, mortgage and cash equivalents
A Unique Transaction Identifier (UTI), alternatively called Unique Swap Identifier (Acronym: USI) is a globally unique identifier for individual transactions in financial markets.
The SEC is removing the valuation exemption that permitted these funds (whose investors historically have made the heaviest redemptions in times of stress) to maintain a stable NAV, i.e., they will have to transact sales and redemptions as a market value-based or "floating" NAV, rounded to the fourth decimal place (e.g., $1.0000). Fees and gates
The valuation of the assets and liabilities of an open-ended fund is therefore very important to investors. If the NAV in the above example had, with the same assets, been calculated as $160 million (and the NAV per share as $160), the investor would have been given 250,000 shares and would become entitled to 1/5 of the fund's value.
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.