A Mutual Fund is a trust that mobilises investments from different investors whose desire and objective is to accomplish a set financial goal. The money thus collected in turn invested in capital market such as shares, debentures, money market instruments, fixed income options, etc.The total number of Mutual Fund accounts (Also known as Folios in the mutual fund industry) as on October 31, 2016 stood at 51 million. Out of these 41 million is from retail investors. Also, Mutual Fund Industry’s Average Assets Under Management (AAUM) for the month of October 2016 has crossed र 16.80 Lakh Crore which is the highest ever AUM for the industry.