Did You Know | India’s first ‘MF’ UTI was never an MF
Unit Trust of India (UTI) was an investment scheme that was set up under the UTI Act, 1963. Launched in 1964, UTI’s inaugural scheme, US-64, was the first scheme to mobilize the common man to invest in a cluster of equity and debt securities. The Securities and Exchange Board of India (Sebi), which governs mutual funds (MFs) now, wasn’t even born then.
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