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What are the Oldest Mutual Funds

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03 Aug 2023


The idea of mutual funds has completely evolved over the course of the last few decades and they have transformed the way people invest their money. Mutual funds are considered a pillar of the financial sector, allowing millions of people to invest and grow their money.

But how did mutual funds start? Which are the oldest mutual funds in India? Let's explore some of India's oldest mutual funds and how they have impacted the investment environment. 

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Oldest Mutual Funds In India 

Unit Trust of India

Unit Trust of India (UTI) is the first and most well-known Indian mutual fund. UTI was founded in 1963 by the RBI, under the parliamentary act and operated as per its regulatory supervision. Unit Scheme 1964 was the first program introduced by the UTI. It became immensely popular over time, giving investors a chance to participate in India's expanding economy.

UTI Mastershare Fund

UTI Mastershare Fund was introduced in April 1986 by UTI AMC. By investing primarily in a diverse portfolio of equities-related assets, it seeks to give investors long-term capital security. UTI Mastershare Fund became a trustworthy choice for investors with its expert fund management team and dedicated investment strategies.

SBI Magnum Equity ESG Fund

SBI Mutual Fund was launched under the name SBI Magnum Equity ESG Fund in 1991. The fund was established with the goal of advancing environmental, social, and governance (ESG) principles. By emphasizing these goals, it aims for long-term capital appreciation. SBI Magnum Equity ESG Fund intends to draw in ethical and sustainable investors who want to connect their investments with these values. 

UTI Flexicap Fund

A dynamic mutual fund, UTI Flexicap Fund, is run by UTI Mutual Fund. The fund was established in 1992 with the aim of giving investors the freedom to invest across different market capitalizations. It offers opportunities for development with adequate risk management. The fund is a popular option for investors looking to traverse shifting market conditions.

SBI Large and MidCap Fund

SBI Large and MidCap Fund was established in 1993, emphasizing the intent to serve investors with development prospects. For balancing risk and reward, this mutual fund features a diverse portfolio of large-cap and mid-cap companies. The fund's stringent selection procedure, which prioritizes quality and sustainability, makes certain that only the most promising stocks are included in its portfolio. 


The Indian mutual fund market has grown strongly over the years and offers a wide range of investment possibilities. As the industry advances, it is critical to acknowledge and value the contributions made by these oldest mutual funds. They have endured the test of time and continue to serve as national symbols of fiscal responsibility and development.


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