Any mutual fund has an objective of earning income for the investors and getting increased value of their investments. To achieve these objectives mutual funds adopt different strategies and accordingly offer different scheme of investments. On these basis the simplest way to categories schemes would be to group these into two broad classifications. Operational Classification and Portfolio Classification 1. Operational Classification: It highlights the two main types of schemes, i.e. open ended and closed ended which were offered by mutual funds. (i) Open ended Schemes: As the name implies...