The Oldest Mutual Fund in India is the-
Unit Trust of India
The Oldest Mutual fund in India is the Unit Trust of India. A mutual fund is an investment account that pools money from a large number of investors for investing into securities, such as bonds, stocks, short-term debts and real estate. Normally, mutual funds act as intermediaries and facilitate investments in various securities. Investing in a mutual fund allow you to minimise risk and maximum returns. Mutual funds have both advantages and disadvantages compared to direct investing in individual securities. At the Present time, they play an important role in thousand finances.
The Oldest Mutual Fund in India is the Unit Trust of India
The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched Unit Trust of India (UTI). Until 1987, UTI enjoyed a monopoly in the Indian mutual fund market. After that other Government controlled financial companies came in the market. The market was opened for the private players in 1993.