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Abstract
There are studies which says that the study on the financial and growth performance of mutual fund has been carried out in India but the market penetration of these funds were not carried out in the popular fifteen cities. There is a need for the research to study why this change has happening over the developed countries. If such types of research happen it will help the policy holder to frame the policies to improve the mutual fund. Mutual fund is an instrument designed to pool the capital from those who have and supply it those who needs therefore it acts has a bridge between industry and common people. Mutual fund issue units to the investors and pool the capital and the distribution of fund based on the NAV to the investors. The entire investment are spread over various securities and hedge instruments and it will work based on the market reaction therefore mutual funds are subject to market risk. Usually the mutual fund institution work for the commission and they have to follow the rules given by the SEBI. The mutual funds are considered one of the best investment alternatives or avenues compare to other investment. The mutual fund provides cost advantages to the investor and it is easy to invest in this types of funds.