Mutual funds are provided with various schemes where small investors can also invest. Through mutual funds, small savings of investors are grouped and used to buy different securities in the securities market. Thus, main purpose of mutual funds is, to pool the money of small investors and make portfolio investment. Mutual Fund industry is growing day by day in terms of investments and asset allocation. It becomes a major source of investment among investors. As it provides various schemes according to the requirement of investors, thus fetch more attraction in the market as comparison to other securities. So, this study is also in relation to it where the growth of mutual funds is examined along with evaluating the performance of selected schemes with the help of Sharpe and Treynor’s ratio. Data used was collected through various secondary sources. The analysis of performance of selected tax saving schemes has been also done from 2014 to 2018 in terms of annual returns. Study concludes that despite risk involved, mutual funds are becoming more popular in recent years among small investors also. Tax saving mutual fund is the best option of investment for the investors who wants to earn income from investment as well as wants to save tax.
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