Indian capital market endows with a variety of investment alternatives for investors to assist them in various investment tools and to make certain the profitable return. Along with diverse range financial products, mutual fund ensures the maximum return and minimum risks to the investors. Development of various mutual fund schemes in the Indian capital market has proved to be one of the most catalytic investment avenue in generating significant investment growth. The Asset management companies are taking vigorous part in financial affluence and they promote investment practice among the investors. This Mutual fund industry has witnessed magnificent growth in past few years. This study is aimed at evaluating performance of mutual funds and also to inspecting the role of asset management companies in reference to public and private sector. The main objective of this study work is to study financial performance of selected mutual fund schemes through the statistical parameters such as (beta, standard deviation, coefficient of determination, Sharpe ratio). The findings of this study will helpful to investors for their investment decisions in future.