Research Scholar, Department of Commerce, Delhi School of Economics, University of Delhi, New Delhi, India
Online published on 5 February, 2014.
Massachusetts Investors Trust (now MFS Investment Management) was founded on March 21, 1924, and after one year, it had 200 shareholders and $392,000 in assets. The entire industry, which included a few closed ended funds, represented less than $10 million in 1924.
Huge downfall in the stock market in 1929 hindered the growth of mutual funds. As the stock market crashed so in this response, Congress passed the Securities Act of 1933 and the securities Exchange Act of 1934.
