1993
- Sebi MF Regulations 1993 formulated
- First private sector MF Kothari Pioneer registered in July 93
- First open-ended scheme launched by a private sector player (Kothari )
1994
-
Morgan Stanley launched a fund on a "first-come, first -serve" basis leading to unprecedented response from investors.
Also, for the first time, lead managers were appointed for a mutual fund scheme
- Reliance Growth and Reliance Vision were the first schemes launched by an MF with "no load"
- Incorporation of AMFI
- First instance of a promoter misusing an MF comes to light. CRB mutual fund barred from launching new products
1996
- Sebi MF Regulations substituted by a more comprehensive regulation, that is, Sebi MF Regulations, 1996
1997
- First merger in the industry- HB Asset Management merged with Credit Capital Asset Management
1999
- Union Budget 1999 made dividends tax-free in the hands of investors
2001
- First ETF launched by Benchmark MF
2002
- Registration of MF distributors made compulsory by AMFI
2003
- UTI Act 1963 repelled and consequently UTI was bifurcated into two parts
2006
- Sebi disallows open-ended funds from charging initial issue expenses to investors
2007
- First gold ETF launched
2008
- Sebi disallows amortisation of initial issue expenses in close-ended funds ; end of the NFO saga
- KYC introduced for mutual fund investors investing more than Rs 50,000
2009
- Sebi bans entry load on MF investments
- Sebi introduces KYD for distributors
2012
- Sebi implements steps to reenergise the MF industry- look beyond top 15 cities, single plan and additional expenses can be charged for monies mobilised beyond top 15 cities
