1. Introduction

The management of mutual funds is a multidimensional idea. It can be understood in relation to the four pillars of mutual funds: corporate governance, benchmarking, asset management and portfolio management, in addition to the active role of the fund manager. The concept of mutual funds was conceived to pool the resources of small investors and deploy them in the capital markets to help industrialization, through participation in equity and debt instruments. The mutual fund industry imparts formal identity, provides access to the payments system and to safety net-like savings deposit insurance. More recently, the focus of the Indian government has been on establishing the basic right of every person to have access to affordable basic financial services offered by banking and non-banking companies.