This book seeks to discuss the theory of Mutual funds and finance with provides the frame work for various Mutual fund and fiance applications. An attempt has been made to relate theory and practice. Of course, the theory presented has its imperfections and inadequacies. Yet, it is a patent tool for management students in India, particularly scholars their research perspective. It aims covering all mutual fund related topics and we are hopeful that the book meets these requirements. For making student friendly, various research issues were articulated.