TAILIEUCHUNG - MAKING MUTUAL FUNDS WORK FOR YOU

Investment banks have strong capital adequacy, in particular with respect to their hedge credit fund exposures – some estimates of which are provided below. Ironically, the fastest growing area of new financial products that utilise highly-complex derivative products exclusively lies mostly within the regulated sector. This is the market for “structured products” that are produced by investment banks and sold to retail, private bank and institutional clients. The strong volume growth in this area, particularly in Europe and Australasia, creates ex-ante derivative pricing pressure, and hedge funds frequently take the other side of the trades (reducing ex-post volatility). . | MAKING Investees MUTUAL FUNDS WORK FOR YOU AM Fl nnn PREFACE Association of Mutual Funds in India AMFI incorporated in August 1995 isthe umbrella body of all the Mutual Funds registered with SEBI. It isa non-profit organisation committed to developthe Indian Mutual Fund Industry on professional healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of Mutual Funds and their unitholders. Mutual Fund both conceptually and operationally is different from other savings instruments. Mutual Fundsinvestin instruments of capital markets which have different risk-return profile. It is very necessary that the investors understand properly the conceptual framework of Mutual Fund and its operational features. AMFI therefore thought it appropriate to produce a booklet in the form of an investor s concise guide that will explain in simple language the concept and working of Mutual Funds. The then Chairman Mr. . Shenai constituted a special committee with me as the Chairman and with Mr. Vivek Reddy Mr. K. N. Atmaramani Mr. S. K. Mitra Mr. Ajai Kaul and Mr. A. N. Palwankar as members. This committee with the help of Price Waterhouse LLP Financial Institutions Reform and Expansion FIRE Project funded by USAID brought out this booklet in April 1997. This guide on the concept operations and advantages of Mutual Funds and the rights of the Mutual Fund unitholders is intended purely as a guide and does not solicit investment in any specific Mutual Fund. It is not a legal or regulatory document. It is recommended that you read the relevant offer document and if necessary consult your investment advisor before making an investment decision. So far we have distributed more than fifteen lakh copies of this booklet all over the country. This is the third edition with updated information and I hope this revised edition will be equally useful to the readers. A. P. Kurian Chairman June 19 2008 1 MUTUAL FUND - A .

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