Mutual Fund Houses in India

What a fund house does with your money

A fund house looks after the money in each of its schemes. This is the work it does.

• Research

  Its analysts study companies, sectors and interest rates to decide what each scheme should own.

• Asset allocation

  It splits each scheme's money between stocks, bonds and cash, inside the limits SEBI sets for that category.

• Building the portfolio

  The fund manager buys, holds and sells securities to match the scheme's stated objective.

• Monthly disclosure

  It publishes every scheme's full portfolio each month. That statement is the source of the holdings on these pages.

• Daily NAV

  It values each scheme every business day and reports the NAV to AMFI.

• Compliance

  It follows SEBI's mutual fund rules. A trustee company oversees it on behalf of investors.

Kinds of funds a fund house runs

SEBI sorts mutual fund schemes into categories. These are the main groups.

• Equity funds

  Invest mainly in stocks. Large cap, mid cap, small cap and flexi cap funds belong here.

• Debt funds

  Invest in bonds, treasury bills and other fixed-income papers. Liquid and overnight funds belong here.

• Hybrid funds

  Hold both stocks and bonds in one scheme, in a mix the category defines.

• Index funds and ETFs

  Copy a market index such as the Nifty 50. They usually charge a lower expense ratio.

• Gold and silver funds

  Hold the metal itself or units of a gold or silver ETF.

• Tax-saving funds (ELSS)

  Equity funds with a three-year lock-in. They qualify for the Section 80C deduction under the old tax regime.

What to check before you pick a fund house

• What the fund holds

  Read the portfolio, not only the name. Two funds in one category can own very different stocks.

• Portfolio changes

  See what the manager bought and sold each month. Frequent large changes are worth a closer look.

• Expense ratio

  It is charged every year. Compare the Direct and Regular plans of the same fund.

• Fund manager

  Check how long the current manager has run the scheme.

• Exit load

  Some funds charge a fee when you sell within a set period.

• Benchmark

  Know which index the fund is measured against before you judge its results.

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