tailieunhanh - Effect of Fund Size on the Performance of Mutual Funds Evidence from Iran

There is an oft-quoted saying believed to have originated as a Chinese proverb: “May you live in interesting times”. It is often not interpreted with a positive connotation! At present, it would be fair to say that the Indian mutual fund industry is living in interesting times. It remains to be seen how positively that can be interpreted. The last few years have seen a series of events, both within and outside the Indian economy, which have had a deleterious effect on the industry. The world as we knew it has changed in many ways | J. Basic. Appl Sci Res. 2 7 6889-6902 2012 2012 TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www. textroad. com Effect of Fund Size on the Performance of Mutual Funds Evidence from Iran Majid Abbasi1 Elham Kalantari2 Hamideh Abbasi3 Department of Accounting Payam-e-Noor University Behshahr Mazandaran province 2Department of Business Management Payam-e-Noor University Karaj alborz province Iran Department of Business Management Abhar Branch Islamic Azad University Abhar Zanjan province Iran ABSTRACT Mutual Fund is one of the most important mechanisms for indirect investment in financial markets which provides better conditions in terms of risk and return especially for amateur investors. This research examined the effect of fund size on the performance of Iranian mutual funds. The research was carried out on all Iranian mutual funds during 2007 to are several aspects and dimensions in evaluating the performance of mutual funds but this study focused on five aspects namely Sharpe measure Jensen differential measure Treynor measure Sortino measure and Information measure. Correlation coefficients between all the parameters were computed to assess the degree of relationship between fund size and performance of mutual funds. The findings highlighted no significant relationship between fund size and performance whether Fixed Income Instruments or Big and Small Cap Stock mutual funds. KEYWORDS Mutual funds Fund Performance Fund Size Iran 1- INTRODUCTION Mutual fund is basically a company that pools the money from a group of investors its shareholders to buy financial securities building a less risky portfolio than an individual investor would do. In other words a mutual fund is a company that invests in a diversified portfolio of securities. People who buy shares of a mutual fund are its owners or shareholders. Their investments provide the money for the mutual fund to buy securities such as stocks and bonds. A mutual .

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