Author: H Sadhak
Publisher: Sage Publications
Year: 2003
Language: English
Pages: 556
ISBN/UPC (if available): 0761997954
Description
This revised edition of a widely appreciated book provides fund managers and investors with a thorough analysis of mutual funds as important financial intermediaries. Immensely popular, yet controversial as investment vehicles, mutual funds experienced tremendous growth when they entered India’s financial services sector. However, the recent slump in the mutual funds market reveals that the Indian investor is still unable to fully comprehend the intricacies of investing in these complex and sophisticated investment options.
Drawing on years of managerial experience in mutual funds backed by meticulous research, Dr Sadhak lucidly explains the characteristics of mutual funds, and the benefits/risks of investing in them. In addition, he describes recent changes in regulatory practices, marketing strategies, investment management, products, distribution, and service delivery systems. Several improvements in the strategic and operational practices of mutual funds are suggested keeping in mind the mechanisms used by fund managers in developed economies. These include:
Stronger supervisory norms
Improved standards of disclosure and managerial accountability
Planning for risk minimization as also business cycles and liquidity management and investment strategies
Strategies for product development, market expansion and improvement in service standards
Measures to improve operational efficiency
Further, in the context of extreme market volatility, the book discusses the self-regulatory organization (SRO), corporate governance and related fiduciary responsibilities in mutual funds.
This comprehensive and well-researched book in a must for practising managers in the financial services industry including fund managers, portfolio managers and investment mangers. Researchers and students of merchant banking and financial services as well as the individual investor will also find it immensely useful.
PRAISE FOR THE FIRST EDITION
A critical review of the performance of the mutual funds while identifying the constraints in their development.
-The Economic Times
A must for anyone wanting to get into the mutual funds industry.
-Business India
Indian mutual fund managers need to learn a lot on how to avoid risks and earn more money. They will do well to read Dr Sadhak’s book to pick up some ideas.
-The Telegraph
A structured study of mutual funds in the context of changes in the national economy and capital markets, Recommended for students, researchers, practising managers and investors.
-The Financial Express
Comprehensive and well researched, this book will be highly useful to practitioners in the financial services industry.
-Fortune India
The book is exhaustive and quantitative, and useful for industry professionals, fund managers, researchers and high networth investors.
-Intelligent Investor
Contents
FOREWORD BY G N BAJPAI
PREFACE TO THE SECOND EDITION
PREFACE TO THE FIRST EDITION
Mutual Funds and Financial Markets
Inside Mutual Funds
Growth of Mutual Funds in India
Mutual Funds Marketing
Investment Management of Mutual Funds
Investor Protection and Mutual Funds Regulation
In Lieu of a Conclusion
APPENDICES
SELECT BIBLIOGRAPHY
INDEX