The Mutual Funds have emerged as a favoured investment vehicle among the investors in recent times. The fund houses have been introducing innovative schemes to expand their market. In this backdrop, the authors have made a sincere effort to bring this book out by conducting a detailed performance analysis of equity funds in the context of the Indian financial market. This book provides a structured study of Equity Funds by way of presenting a comprehensive picture of financial performance and evaluation criteria of equity funds. An attempt has been made to help the readers to evaluate the risk and return characteristics of equity funds; to examine the degree of correlation that exists between fund and market return and to understand the impact of fund specific characteristics on the fund performance. The study analyses the performance of 113 equity funds of 25 Indian fund houses. This book provides valuable inputs to the practitioners in the financial services industry including fund managers, investment analysts, portfolio managers, policy makers, academicians, researchers and individual investors.