A study of the role of management style on performance of mutual funds in India (Paperback)

Description

1 Origin and History of Mutual Funds

The evolution of Mutual funds can be traced to the times of the Egyptians

and Phoenicians when they sold shares in caravans and vessels to

spread the risk of these ventures. Historians are uncertain of the origins of

investment funds; some cite the closed-end investment companies

launched in the Netherlands in 1822 by King William I as the first mutual

funds, while others point to a Dutch merchant named Adriaan van Ketwich

whose investment trust was created in 1774 may have given the king the idea.

In July 1774, he offered on the market a diversified pooled security

specifically designed for citizens of modest means. The security was known

as a negotiation, an instrument very similar to the present-day closed-end

fund.