📝 One-liners · 65 cards
MUTUAL FUNDS
What is a mutual fund?
A mutual fund is a professionally managed investment vehicle that pools money from multiple investors to invest in a diversified portfolio of securities such as stocks, bonds, and money market instruments.
What is the lock-in period for an ELSS mutual fund scheme?
3 years, shortest among tax-saving instruments under 80C.
Which regulatory body governs mutual funds in India?
Mutual funds in India are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Mutual Funds) Regulations, 1996.
What does the term 'scheme' mean in the context of mutual funds?
A distinct investment portfolio launched by an AMC under a fund.
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