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In the current scenario, mutual funds as a means of investment are attaining immense popularity and drawing the attention of investors at large to invest in various securities through the expertise and knowledge of qualified professionals. The Mutual fund industry in India is more than five decades old. The year 1964 saw the birth of the first asset management company (AMC) in India: Unit Trust of India (UTI). Unit Scheme 1964 (US-64) was the first scheme launched by UTI in 1964 followed by Master share in 1986. As the mutual fund industry gained momentum, the Indian market witnessed the setting up of many public sector mutual funds from 1987. All fund managers are not successful in the formation of the portfolio and so the study also focuses on the empirically testing on the basis of fund manager performance and analysing data at the fund-manager and fund-investor levels. This study is based on to analyses the performance of equity mutual funds of India, to see pattern of performance of Mutual fund against stock market benchmark and which set of group of equity performing better than others. This study helpful to the investors, researchers and portfolio managements.

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