Now let's take a brief look at the history of mutual funds. History always helps in terms of understanding where we came from. We'll find the earliest evidence of mutual funds in 19th in 1772 73, in the Dutch Republic, from by a person called Adrian Venkat, which he created a fund, which allowed small investors with an opportunity to diversify their savings. In the United States of America, mutual funds were introduced in the 1890s. mutual fund industry began in India in 1963, with the formation of unit Trust of India UTI as an initiative of the Government of India and Reserve Bank of India in 2000, 19 the mutual fund industry worldwide managers and asset worth approximately US dollar 50 trillion as on date the countries with the largest mutual fund industries is given here. Thank you for watching See you in the next lecture.