In many emerging economies including India the growth of mutual fund industry has been phenomenal during the last ten years in terms of assets under management, number of mutual funds, products/schemes and more importantly, the number of retail investors. Notwithstanding this rapid growth, India remains as one of the least developed countries with respect to mutual fund industry as also participation in mutual funds by individuals. Although, at the aggregate level, it is difficult to pinpoint the determinants favoring the growth of mutual funds, the fact however remains that the individuals are increasingly attracted to mutual funds. Therefore, understanding retail investors in mutual fund in emerging market economies like India is imperative not just from the perspective of mutual funds but also from the larger perspective of enhancing the participation of retail investors in capital market. This book apart from providing a detailed account of the growth and development of mutual fund industry in India, answers some basic questions such as; who are retail investors, why do they invest in mutual funds and how do they select mutual funds.