Review Of Literature 1. Financial Management of Private and Public Equity Mutual Funds in India: An Analysis of Profitability (By H.

J Sondhi and P K Jain from The ICFAI Journal of applied finance, July 2005) This article examines the rates of returns generated by equity mutual funds,vis --vis,364 days T-bills and the Bombay Stock Exchange100(BSE-100) National Index during the period 1993-2002.Rate of return on 364 days T -bill is the surrogate measure for risk free return and the BSE-100 National index has been chosen as proxy for market portfolio in our analysis. Equity mutual funds predominantly invest in company equities and hence are risky investments while choosing to invest in equity mutual funds, the investors expect not only risk premium but als o better returns than the market portfolio. The paper has been divided in to four sections.Section1 outlines the scope and methodology of the study that includes, inter alia, the basis of computation of rate of return earned by the equity mutual funds,364 days T-bills and BSE-100 National Index,Section2 computes and analyzes rates of return.Section3 is concerned with comparision od rates of return of private sector company spo nsored equity mutual funds and PSU sponsored equity mutual funds Concluding observ ations have been recapitulated in Section 4.

2. Relative Risk Return Analysis Use the Proprietary Bubble Analysis of the Relative Risk and Return Analysis of Mutual Funds deve by the ICICI Bank Private B ank Advisory Group. 3. Mutual Fund Investments ar e subject to Market Risks (Portfolio Organizer, October 2005) This article deals with the risk of Mutual Fund Investments, Types of risks, and the common mistakes done by investor while c hoosing the funds for the purpose of investing, Investors responsibi lity in Investing. To identify suitable fund can be done in two step manner as follows: Selecting a fund with investment objectives and preferences, return objectives, time horizon and risk tolerances that meet the requirements of investor. Selecting a fund that has a detailed asset allocation strategy by fund type category to reflect the investment objectives of the fund.

4. Empirical Investigation on the Investment Managers Stock Selection Abilities: The Indian Experience (By Ramesh Chander fr om The ICFAI Journal of applied finance, August 2005) The study examined the stock selection abilities of investment managers in India across the fund characteristics as well as t he persistence of such performance. It also investigated performance variabil ity for a sample of 80 investment schemes for the period starting from January 1998 -December 2002.On the whole, the results reported documents significant statistical evidences for passive stock selection abilities of Indian investment managers. It points to the consistency of performance across the measurement criteria. Investment Performance depends on the stock selection and pertains to the successful micro forecasting for company specific e vents. It refers to the managers ability to identify under or o vervalued securities.

5. Mutual Fund Industry in India: On a growth Trail (Cover Story, Chartered Financial Analyst, July 2005) The mutual fund industry in India has been on a roll as the assets under management continue to see strong spurt in growth. The assets under management swelled to Rs. 1, 67,978 cr. By May 31, 2005 from Rs.1, 01,565 cr. In January 2000.This apart, the industry has also seen a spurt in the number of schemes on offer which amount to 460 at present, catering to varied needs of inve stors. A booming economy, soaring stock market and a conducive regulatory environment, amongst a slew of other factors have added to the growt h of the industry. Given the huge opportunity in sub -urban and rural markets, which lie hitherto untapped and grow ing income levels in the country, the industrys future look bright.

6. Managing Mutual Fund Investments in the Era of change (By Kulbhushan Chandel and OP Verma from the ICFAI Journal of applied finance, October 2005) The study is confined to evaluate the performance of mutual funds on the basis of weekly returns compared with risk free security returns and BSE Index. The present study includes the five different sector specific schemes. Among these 25 schemes, only se ctor specific schemes floated by d ifferent institutions have been studied .To evaluate the performance of funds only three performance measures have been applied i.e. Sharpe Index,Treynor Index and Jensens measure. It is observed that the performance of sampl e schemes during the study per iod is best.However; there are some instances where poor performance has been reflected. It may lead to regain investors confidence