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India's Mutual Fund Industry

The assets managed by India's mutual funds have shown impressive growth, and had totaled 3.3 trillion rupees (Rs 3.3 trillion) as of the end of March 2007. India's middle class, who are prospective investors in mutual funds, has been growing, and we expect to see further growth in the mutual fund market moving forward. In this paper, we first provide an overview of the assets managed within India's mutual fund market, both now and in the past, and of the legal framework for mutual funds, and then discuss the current situation and recent trends in financial products, distribution channels and asset management companies.