A Systematic Review Study on Growth of Mutual Fund in India

In the backdrop of liberalization and private participation in the Indian mutual fund industry, the challenge to survive and retain investor confidence has been a prime area of concern for fund managers. For small investors who do not have the time or the expertise to take direct investment decision in equities successfully, the alternative is to invest in mutual funds. The performance of the mutual fund products become more complex in context of accommodating both return and risk measurements while giving due importance to investment objectives. In this paper, an attempt has been made to study the performance of selected schemes of mutual funds based on risk-return relationship models and measures. A total of 23 schemes offered by six private sector mutual funds and three public sector mutual funds have been studied over the time period April 2000 to March 2023 (13 years). The analysis has been made on the basis of mean return, beta risk, co-efficient of determination, Sharpe ratio, Trey nor ratio and Jensen Alpha. The overall analysis will be done to find out the best performers and fund which are showing poor below-average performance when measured against the risk-return relationship models.