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Glossary T

Tax saving fund

Such funds allow the income tax payees to claim a rebate under the Income Tax Act.

Technical Analysis

A method of prediction of share price movements based on a study of price graphs or charts on the assumption that share price trends are repetitive. Since investor psychology follows a certain pattern, what is seen to have happened before is likely to be repeated. The technical analyst is not concerned with the fundamental strength or weakness of a company or an industry; he only studies price and volume behavior.

Top-Down Investment

An approach to stock selection which evaluates the prospects of the economy first, then the prospects of the industry and then finally the prospects of a particular company to take an investment decision. It is the opposite of a bottom-up approach to investing.

Total Assets Under Management

The market value of the total investments of a fund as on a particular date

Total Return

Return on an investment, taking into account capital appreciation, dividends or interest, and individual tax considerations adjusted for present value and expressed on an annualised basis.

Transfer Agents

Professional firms, now mostly computerized, which maintain the records of shareholders of their client companies.


A legal arrangement under which property and assets may be held and managed for the benefit of another person. Mutual funds in India are registered under the Trusts Act.


A person or a group of persons having an overall supervisory authority over the fund managers. They ensure that the managers keep to the trust deed, that the unit prices are calculated correctly and the assets of the funds are held safely. The trustee is the legal owner of the mutual fund. The trustee takes into custody or under its control all the capital and property of every scheme of the mutual fund and hold it in trust for the unitholders of the scheme.