{"id":12316,"date":"2026-08-25T10:28:13","date_gmt":"2026-08-25T04:58:13","guid":{"rendered":"https:\/\/www.fatakpay.com\/blog\/?p=12316"},"modified":"2026-08-25T10:28:16","modified_gmt":"2026-08-25T04:58:16","slug":"oldest-mutual-funds-in-india","status":"publish","type":"post","link":"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/","title":{"rendered":"Oldest Mutual Funds in India: Which Came First and What Happened to It\u00a0"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Key_Takeaways\" >Key Takeaways&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Which_is_the_oldest_mutual_fund_in_India\" >Which is the oldest mutual fund in India?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#The_First_Scheme_What_It_Was_and_What_Happened_to_It\" >The First Scheme: What It Was and What Happened to It&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Oldest_Mutual_Funds_in_India_The_Earliest_Schemes_Still_Running\" >Oldest Mutual Funds in India: The Earliest Schemes Still Running&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#The_First_Non-UTI_Mutual_Fund\" >The First Non-UTI Mutual Fund&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#The_First_Private_Sector_Mutual_Fund\" >The First Private Sector Mutual Fund&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Why_the_Oldest_Funds_Still_Matter\" >Why the Oldest Funds Still Matter&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Conclusion\" >Conclusion&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#FAQs\" >FAQs&nbsp;&nbsp;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Which_is_the_oldest_mutualfunds_in_India\" >Which is the oldest&nbsp;mutualfunds&nbsp;in India?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Which_is_the_oldest_mutual_fund_scheme_still_running\" >Which is the oldest mutual fund scheme still running?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#What_was_the_first_mutual_fund_scheme_in_India\" >What was the first mutual fund scheme in India?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Which_was_the_first_private-sector_mutual_fund_in_India\" >Which was the first private-sector mutual fund in India?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#Is_an_older_mutual_fund_a_safer_investment\" >Is an older mutual fund a safer investment?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/#When_did_mutual_funds_start_in_India\" >When did mutual funds start in India?&nbsp;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span><strong>Key Takeaways<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Unit Trust of India (UTI) is the oldest mutual funds institution in India,\u00a0established\u00a0in 1963 under the Unit Trust of India Act.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Unit Scheme 1964 (US-64) was India&#8217;s first mutual fund scheme, launched by UTI in 1964, but it is no longer operational.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>UTI\u00a0Mastershare\u00a0Unit Scheme, launched in 1986, is among the oldest mutual fund schemes still\u00a0operating.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SBI Mutual Fund was the first non-UTI mutual fund, beginning operations in 1987, while Kothari Pioneer became the first private-sector mutual fund in 1993.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The age of a mutual fund does not guarantee better or safer performance. Investors should also consider the fund&#8217;s objective, portfolio, risk,\u00a0costs\u00a0and current management.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The\u00a0oldest mutual funds in India\u00a0was\u00a0established\u00a0long before mutual funds became a mainstream investment choice. Unit Trust of India (UTI) was set up in 1963 and launched its first scheme, Unit Scheme 1964, in 1964. This guide looks at which institution came first, what happened to its first scheme, which early schemes are still running and the key milestones that followed as India&#8217;s mutual fund industry expanded.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_is_the_oldest_mutual_fund_in_India\"><\/span><strong>Which is the oldest mutual fund in India?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Unit Trust of India (UTI) is the\u00a0oldest mutual fund institution in India.\u00a0It was\u00a0established\u00a0in 1963 under the Unit Trust of India Act, 1963, and launched its first scheme, Unit Scheme 1964 (US-64), in 1964. UTI was created as a statutory corporation through an Act of Parliament and initially\u00a0operated\u00a0under the regulatory framework applicable at the time. The distinction matters because the oldest institution and the oldest surviving scheme are not necessarily the same.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_First_Scheme_What_It_Was_and_What_Happened_to_It\"><\/span><strong>The First Scheme: What It Was and What Happened to It<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">UTI&#8217;s first mutual fund scheme was\u00a0Unit Scheme 1964 (US-64). It became one of the most widely\u00a0recognised\u00a0investment schemes in India&#8217;s early mutual fund industry and remained UTI&#8217;s flagship offering for decades.\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However,&nbsp;US-64 is no longer an operating mutual fund scheme. UTI suspended dealings in the scheme in 2001 after a significant gap&nbsp;emerged&nbsp;between the value of its underlying assets and the repurchase price of its units. The scheme was&nbsp;subsequently&nbsp;dealt with as part of the restructuring of UTI.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, while UTI and US-64&nbsp;represent&nbsp;the beginning of India&#8217;s mutual fund story, neither should automatically be described as the oldest active fund today.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Oldest_Mutual_Funds_in_India_The_Earliest_Schemes_Still_Running\"><\/span><strong>Oldest Mutual Funds in India: The Earliest Schemes Still Running<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Fund House Type<\/strong>&nbsp;<\/td><td><strong>Scheme or Entity<\/strong>&nbsp;<\/td><td><strong>Year<\/strong>&nbsp;<\/td><td><strong>Status Today<\/strong>&nbsp;<\/td><\/tr><tr><td>First mutual fund institution&nbsp;<\/td><td>Unit Trust of India&nbsp;<\/td><td>1963&nbsp;<\/td><td>UTI continues as a mutual fund institution&nbsp;<\/td><\/tr><tr><td>First scheme&nbsp;<\/td><td>Unit Scheme 1964 (US-64)&nbsp;<\/td><td>1964&nbsp;<\/td><td>No longer in operation&nbsp;<\/td><\/tr><tr><td>Oldest surviving scheme highlighted by UTI&nbsp;<\/td><td>UTI&nbsp;Mastershare&nbsp;Unit Scheme&nbsp;<\/td><td>1986&nbsp;<\/td><td>Active&nbsp;<\/td><\/tr><tr><td>First non-UTI mutual fund&nbsp;<\/td><td>SBI Mutual Fund&nbsp;<\/td><td>1987&nbsp;<\/td><td>Active&nbsp;<\/td><\/tr><tr><td>First private-sector mutual fund&nbsp;<\/td><td>Kothari Pioneer Mutual Fund&nbsp;<\/td><td>1993&nbsp;<\/td><td>Merged with Franklin Templeton&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">UTI&#8217;s current scheme information lists&nbsp;UTI&nbsp;Mastershare&nbsp;Unit Scheme as launched in October 1986 and&nbsp;active. SBI Mutual Fund&nbsp;commenced&nbsp;operations in June 1987 as the first mutual fund entity outside UTI. SEBI records&nbsp;identify&nbsp;Kothari Pioneer, launched in July 1993, as the first&nbsp;private-sector&nbsp;mutual fund.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before judging an old fund, it helps to understand&nbsp;what mutual funds are&nbsp;and how they pool money from multiple investors to invest in a portfolio of securities.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_First_Non-UTI_Mutual_Fund\"><\/span><strong>The First Non-UTI Mutual Fund<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SBI Mutual Fund was the first mutual fund entity outside UTI,&nbsp;commencing&nbsp;operations in June 1987. This marked an important expansion of the Indian mutual fund industry beyond its original institution.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other&nbsp;public-sector&nbsp;institutions soon followed.&nbsp;Canbank&nbsp;Mutual Fund began in December 1987, while Punjab National Bank Mutual Fund and other bank- and insurance-backed funds entered during the following years.&nbsp;&nbsp;<br>&nbsp;<br>For a broader account of these early milestones, see&nbsp;the full&nbsp;<a href=\"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/history-of-mutual-funds-in-india\/\" target=\"_blank\" rel=\"noopener\"><strong>history of mutual funds<\/strong><\/a>&nbsp;in India.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_First_Private_Sector_Mutual_Fund\"><\/span><strong>The First Private Sector Mutual Fund<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Kothari Pioneer Mutual Fund was the first private-sector mutual fund in India, beginning in July 1993. SEBI records&nbsp;identify&nbsp;it as the country&#8217;s first registered&nbsp;private-sector&nbsp;mutual fund.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its entry became possible after SEBI introduced the 1993 Mutual Fund Regulations, which allowed privately owned entities to enter the industry alongside existing public-sector funds. Kothari Pioneer later became part of Franklin Templeton through&nbsp;subsequent&nbsp;industry consolidation.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_the_Oldest_Funds_Still_Matter\"><\/span><strong>Why the Oldest Funds Still Matter<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>They have lived through multiple market cycles:<\/strong>\u00a0The oldest mutual funds have\u00a0operated\u00a0through periods of booms, crashes,\u00a0reforms\u00a0and changing investor\u00a0behaviour.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>They offer historical context:<\/strong>\u00a0A long operating history can help investors understand how a scheme and its management have evolved over time.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Age is not a performance metric:<\/strong>\u00a0An older fund is not automatically better than a newer one. Past longevity does not guarantee future returns.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Management can change:<\/strong>\u00a0The people,\u00a0processes\u00a0and portfolio strategy behind a scheme today may differ\u00a0substantially from\u00a0those at launch.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Look beyond age:<\/strong>\u00a0When comparing\u00a0the\u00a0<a href=\"https:\/\/www.fatakpay.com\/blog\/investments-and-insurance\/different-types-of-investments\/\" target=\"_blank\" rel=\"noopener\"><strong>different types of investments<\/strong><\/a>\u00a0available, consider\u00a0objectives, risk, costs, portfolio\u00a0strategy\u00a0and consistency rather than choosing solely on vintage.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The history of the\u00a0oldest mutual funds in India\u00a0is therefore useful context, but it should not become the investment decision itself\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>oldest mutual funds in India<\/strong>&nbsp;began with UTI in 1963, followed by its landmark Unit Scheme 1964 in 1964. Since then, the industry has expanded from one statutory institution to a broad market of fund houses and schemes. Understanding these milestones can put today&#8217;s mutual fund&nbsp;landscape in&nbsp;perspective, but age alone is not a reason to invest. Before choosing a fund, assess its&nbsp;objective, strategy,&nbsp;risk&nbsp;and costs. Age tells you a fund has survived, not that it will outperform. Explore&nbsp;FatakPay&nbsp;to make more informed decisions as you build your&nbsp;<a href=\"https:\/\/www.fatakpay.com\/invest-in-mutual-funds\" target=\"_blank\" rel=\"noopener\"><strong>mutual fund&nbsp;investment<\/strong><\/a>&nbsp;portfolio.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs&nbsp;<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_is_the_oldest_mutualfunds_in_India\"><\/span><strong>Which is the oldest&nbsp;mutualfunds&nbsp;in India?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Unit Trust of India (UTI) is the oldest mutual fund institution in India. It was&nbsp;established&nbsp;in 1963 under the Unit Trust of India Act, 1963. UTI launched its first scheme, Unit Scheme 1964, in 1964, marking the beginning of India&#8217;s modern mutual fund industry.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_is_the_oldest_mutual_fund_scheme_still_running\"><\/span><strong>Which is the oldest mutual fund scheme still running?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">UTI&nbsp;Mastershare&nbsp;Unit Scheme, launched in 1986, is among the oldest mutual fund schemes still&nbsp;operating. UTI&#8217;s current scheme information lists its launch date as October 15, 1986, and shows the scheme as active. This is distinct from US-64, the first scheme, which is no longer operational.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_was_the_first_mutual_fund_scheme_in_India\"><\/span><strong>What was the first mutual fund scheme in India?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Unit Scheme 1964 (US-64) was the first mutual fund scheme in India. It was launched by UTI in 1964, shortly after UTI was&nbsp;established&nbsp;in 1963. US-64 became UTI&#8217;s flagship scheme but was eventually&nbsp;discontinued&nbsp;following the restructuring of UTI.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_was_the_first_private-sector_mutual_fund_in_India\"><\/span><strong>Which was the first private-sector mutual fund in India?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Kothari Pioneer Mutual Fund was the first private-sector mutual fund in India. It began in July 1993 after SEBI&#8217;s 1993 regulations opened the industry to privately owned mutual funds. Kothari Pioneer later became part of Franklin Templeton through industry consolidation.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_an_older_mutual_fund_a_safer_investment\"><\/span><strong>Is an older mutual fund a safer investment?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">No, an older mutual fund is not automatically safer. A long history shows that a scheme has experienced different market conditions, but it does not remove market or investment risks. Investors should assess the scheme&#8217;s portfolio,&nbsp;objective, risk level,&nbsp;costs&nbsp;and current management before investing.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_did_mutual_funds_start_in_India\"><\/span><strong>When did mutual funds start in India?<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Mutual funds started in India with UTI&#8217;s establishment in 1963 and the launch of Unit Scheme 1964 in 1964. The industry later expanded to&nbsp;public-sector&nbsp;and&nbsp;private-sector&nbsp;fund houses. For a broader timeline, explore the full history of mutual funds in India.&nbsp;&nbsp;<\/p>\n\n\n\n<script type=\"application\/ld+json\"> \n{ \n  \"@context\": \"https:\/\/schema.org\/\", \n  \"@type\": \"BreadcrumbList\", \n  \"itemListElement\": [{ \n    \"@type\": \"ListItem\", \n    \"position\": 1, \n    \"name\": \"Home\", \n    \"item\": \"https:\/\/www.fatakpay.com\" \n  },{ \n    \"@type\": \"ListItem\", \n    \"position\": 2, \n    \"name\": \"Blog\", \n    \"item\": \"https:\/\/www.fatakpay.com\/blog\/\" \n  },{ \n    \"@type\": \"ListItem\", \n    \"position\": 3, \n    \"name\": \"Mutual Funds\", \n    \"item\": \"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/\" \n  },{ \n    \"@type\": \"ListItem\", \n    \"position\": 4, \n    \"name\": \"Oldest Mutual Funds in India: Which Came First and What Happened to It\", \n    \"item\": \"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/\" \n  }] \n} \n<\/script>\n\n\n\n<script type=\"application\/ld+json\"> \n{ \n  \"@context\": \"https:\/\/schema.org\", \n  \"@type\": \"BlogPosting\", \n  \"mainEntityOfPage\": { \n    \"@type\": \"WebPage\", \n    \"@id\": \"https:\/\/www.fatakpay.com\/blog\/mutual-funds\/oldest-mutual-funds-in-india\/\" \n  }, \n  \"headline\": \"Oldest Mutual Funds in India: Which Came First\", \n  \"description\": \"Discover the oldest mutual funds in India, from UTI's 1963 founding and Unit Scheme 1964 to the oldest schemes still running today, and why age isn't a guarantee.\", \n  \"image\": \"https:\/\/www.fatakpay.com\/navbar-assest\/Logo-2.png\", \n  \"author\": { \n    \"@type\": \"Organization\", \n    \"name\": \"FatakPay\", \n    \"url\": \"https:\/\/www.fatakpay.com\" \n  }, \n  \"publisher\": { \n    \"@type\": \"Organization\", \n    \"name\": \"FatakPay\", \n    \"logo\": { \n      \"@type\": \"ImageObject\", \n      \"url\": \"https:\/\/www.fatakpay.com\/navbar-assest\/Logo-2.png\" \n    } \n  }, \n  \"datePublished\": \"2026-08-25\", \n  \"dateModified\": \"2026-08-25\" \n} \n<\/script>\n\n\n\n<script type=\"application\/ld+json\"> \n{ \n  \"@context\": \"https:\/\/schema.org\", \n  \"@type\": \"FAQPage\", \n  \"mainEntity\": [{ \n    \"@type\": \"Question\", \n    \"name\": \"Which is the oldest mutual funds in India?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"Unit Trust of India (UTI) is the oldest mutual fund institution in India. It was established in 1963 under the Unit Trust of India Act, 1963. UTI launched its first scheme, Unit Scheme 1964, in 1964, marking the beginning of India's modern mutual fund industry.\" \n    } \n  },{ \n    \"@type\": \"Question\", \n    \"name\": \"Which is the oldest mutual fund scheme still running?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"UTI Mastershare Unit Scheme, launched in 1986, is among the oldest mutual fund schemes still operating. UTI's current scheme information lists its launch date as October 15, 1986, and shows the scheme as active. This is distinct from US-64, the first scheme, which is no longer operational.\" \n    } \n  },{ \n    \"@type\": \"Question\", \n    \"name\": \"What was the first mutual fund scheme in India?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"Unit Scheme 1964 (US-64) was the first mutual fund scheme in India. It was launched by UTI in 1964, shortly after UTI was established in 1963. US-64 became UTI's flagship scheme but was eventually discontinued following the restructuring of UTI.\" \n    } \n  },{ \n    \"@type\": \"Question\", \n    \"name\": \"Which was the first private-sector mutual fund in India?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"Kothari Pioneer Mutual Fund was the first private-sector mutual fund in India. It began in July 1993 after SEBI's 1993 regulations opened the industry to privately owned mutual funds. Kothari Pioneer later became part of Franklin Templeton through industry consolidation.\" \n    } \n  },{ \n    \"@type\": \"Question\", \n    \"name\": \"Is an older mutual fund a safer investment?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"No, an older mutual fund is not automatically safer. A long history shows that a scheme has experienced different market conditions, but it does not remove market or investment risks. Investors should assess the scheme's portfolio, objective, risk level, costs and current management before investing.\" \n    } \n  },{ \n    \"@type\": \"Question\", \n    \"name\": \"When did mutual funds start in India?\", \n    \"acceptedAnswer\": { \n      \"@type\": \"Answer\", \n      \"text\": \"Mutual funds started in India with UTI's establishment in 1963 and the launch of Unit Scheme 1964 in 1964. The industry later expanded to public-sector and private-sector fund houses. For a broader timeline, explore the full history of mutual funds in India.\" \n    } \n  }] \n} \n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways&nbsp; The\u00a0oldest mutual funds in India\u00a0was\u00a0established\u00a0long before mutual funds became a mainstream investment choice. Unit Trust of India (UTI) was set up in 1963 and launched its first scheme, Unit Scheme 1964, in 1964. This guide looks at which institution came first, what happened to its first scheme, which early schemes are still running<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[697],"tags":[],"class_list":["post-12316","post","type-post","status-publish","format-standard","category-mutual-funds"],"_links":{"self":[{"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/posts\/12316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/comments?post=12316"}],"version-history":[{"count":1,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/posts\/12316\/revisions"}],"predecessor-version":[{"id":12317,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/posts\/12316\/revisions\/12317"}],"wp:attachment":[{"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/media?parent=12316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/categories?post=12316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fatakpay.com\/blog\/wp-json\/wp\/v2\/tags?post=12316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}