Guides
A growing collection of how-to guides and reference notes.
- UTI Mutual Fund IPO (2020)
UTI Asset Management Company's October 2020 IPO was the first listing of a major Indian AMC after the HDFC AMC IPO of 2018, valuing the country's oldest asset manager at approximately Rs 11,000 crore.
- UTI Mutual Fund direct portal
UTI Mutual Fund's direct portal (utimf.com) enables direct plan investing in UTI AMC schemes, one of India's oldest and largest government-sponsored asset management companies.
- UTI Mutual Fund
UTI Mutual Fund is India's oldest mutual fund, successor to the Unit Trust of India (post-2003 bifurcation), co-sponsored by SBI, PNB, Bank of Baroda, and LIC.
- UTI Master Index Fund (1998), India's first index fund
UTI Master Index Fund, launched in 1998, was the first passive index-tracking mutual fund in India, predating the Nifty BeES ETF by three years and establishing the conceptual foundation for passive investing among Indian retail investors.
- Upstox mutual fund platform
Upstox's mutual fund platform offers direct plan MF investing integrated into the Upstox stockbroking app, backed by Tiger Global and Ratan Tata, with AMFI ARN registration.
- Upside capture ratio in mutual funds
The upside capture ratio measures what percentage of benchmark gains a mutual fund captures when the benchmark posts a positive return. A ratio above 100 indicates the fund rises more than the benchmark during market upturns.
- UPI AutoPay for SIPs in Indian Mutual Funds
How UPI AutoPay replaced NACH e-mandates as the dominant SIP registration mechanism in India, enabling real-time mandate setup on smartphones and accelerating SIP account growth from 2020 onwards.
- Upfront commission in mutual funds, banned in 2018
Historical reference on upfront commissions paid to mutual fund distributors in India, SEBI's October 2018 ban, the churning problem it addressed, and the transition to trail-only distribution.
- Unit Trust of India
Unit Trust of India (UTI) was India's first mutual fund, established by Parliament in 1963, and bifurcated in 2003 into SUUTI and the SEBI-registered UTI Mutual Fund.
- Unclaimed Mutual Fund Redemption and Dividends in India
The regulatory framework, scale, and resolution process for unclaimed redemption proceeds and dividends in Indian mutual funds, including the Investor Education and Protection Fund (IEPF) transfer mechanism and AMC obligations.
- Ultra-short-duration mutual fund
Encyclopedic reference on ultra-short-duration mutual funds in India: SEBI Macaulay duration 3 to 6 months rule, comparison with liquid and low-duration funds, credit quality practice, taxation, and exemplar schemes.
- Trust as MF investor
Reference on trusts, public charitable, private, religious, and other, investing in Indian mutual funds: legal basis, trustee authority, KYC documentation, eligible schemes, and tax treatment.
- Trigger-based investing in mutual funds
Reference on trigger-based mutual fund investing in India: types of triggers (NAV, index, date, event), automated switch and redemption triggers, SEBI framework, and risks.
- Treynor ratio in mutual funds
The Treynor ratio measures excess return per unit of systematic risk (beta) rather than total risk. It is the appropriate risk-adjusted metric when evaluating a mutual fund that forms part of a well-diversified portfolio.
- Transmission of mutual fund units on death
Reference on the transmission of mutual fund units to nominees or legal heirs in India on the death of a unitholder: SEBI rules, documentation, process, joint holding, and distinction from nomination.
- Tracking error in index funds
Tracking error measures how closely an index fund or ETF replicates the return of its benchmark index. It is the annualised standard deviation of the daily return differences between the fund and the benchmark, with lower values indicating tighter replication.
- Tracking difference in index funds
Tracking difference is the gap between an index fund's cumulative return and the return of its benchmark total return index over a given period. Unlike tracking error, it is a signed number that directly shows how much the fund under- or over-performed the benchmark.
- Total expense ratio in mutual funds
The total expense ratio (TER) is the annual cost a mutual fund charges unitholders as a percentage of its average daily net assets, covering management fees, trustee fees, marketing costs, and other operational expenses.
- TDS on MF redemption for NRIs (Section 195)
Section 195 requires TDS on all MF redemption proceeds for NRI investors in India. Rates, DTAA relief, Form 15CA/15CB, and refund claim procedures explained.
- TDS on MF dividend (IDCW) for residents (Section 194K)
Section 194K requires 10% TDS on IDCW distributions from mutual funds when the aggregate IDCW in a financial year exceeds Rs 5,000. Scope, exemptions, and Form 15G/15H explained.
- Taxation of SWP withdrawals from mutual funds
Each SWP (Systematic Withdrawal Plan) instalment is a partial redemption. FIFO determines which units are sold, and each lot's holding period determines STCG vs LTCG treatment.
- Taxation of STP transactions in mutual funds
Each STP transfer is a partial redemption from the source fund (taxable) and a fresh purchase in the target fund (new holding period). FIFO, STCG/LTCG, and set-off rules explained.
- Taxation of SIPs (FIFO method)
Each SIP instalment is a separate lot with its own acquisition date. Redemptions are assigned to the earliest lots first (FIFO). Holding-period and gain calculation explained.
- Taxation of international funds in India
International mutual funds investing primarily in overseas equity are treated as specified MFs from 1 April 2023: all gains taxed at slab rates. Older units retain LTCG with indexation.
- Taxation of hybrid mutual funds in India
Tax treatment of hybrid mutual funds in India depends on whether equity allocation exceeds 65% (equity-oriented) or 35% (specified MF). Finance Act 2023 and 2024 changes explained.
- Taxation of gold ETFs and silver ETFs in India
Gold ETFs and silver ETFs are classified as specified mutual funds from 1 April 2023. All gains on new units are taxed at slab rates. Pre-2023 units retain 20% LTCG with indexation.
- Taxation of Fund of Funds (revised 2024)
Finance Act 2024 harmonised FoF taxation: domestic equity FoFs investing 90%+ in equity-oriented funds now qualify as equity-oriented. Other FoFs remain slab-rate specified MFs.
- Taxation of equity mutual funds in India
Comprehensive guide to equity mutual fund taxation in India: STCG at 20%, LTCG at 12.5% under Finance Act 2024, STT requirement, grandfathering, ELSS, and dividend (IDCW) treatment.
- Taxation of debt mutual funds (post-April 2023)
India's debt mutual fund tax regime changed fundamentally from 1 April 2023: indexation and the 20% LTCG rate were abolished; all gains are now taxed at slab rates regardless of holding period.
- Taxation of arbitrage funds (equity-oriented)
Arbitrage funds maintain 65%+ equity for equity-fund tax classification: STCG at 20% (held under 12 months) or LTCG at 12.5% (held over 12 months). Post-Finance Act 2024 rates.