The mutual fund industry was open to private sector competition in 1993. The erstwhile Kothari Pioneer Mutual Fund (now Franklin Templeton Mutual Fund) launched Prima Fund and Bluechip Fund on December 1, 1993.
At the end of the calendar year 1993, there were nine equity mutual fund schemes available in the country. Six schemes were launched in 1993, and two were launched prior to it. Other equity schemes that existed were Canara Robeco Equity Tax Saver Fund, SBI Magnum TaxGain’93, SBI ..
