Manjrekar, Rajesh and Sinha, Pankaj (2010): Myopic investment view of the Indian mutual fund industry.
Download (349Kb) | Preview
This paper examines the investment behavior of Indian mutual fund industry. Since the majority of investors who invest in mutual funds are salaried individuals or individuals that own SMEs, the Indian Mutual Fund industry should have a long term investment horizon. However, the data from all mutual funds for the periods December 2007 to May 2008 and December 2008 to May 2009 reveals that the mutual fund industry has adjusted its position on a short term basis in tandem with the short term volatility of the market. The findings substantiate the SEBI Chairman’s observation that there is an urgent need to set up investment norms with regard to the holding period for stocks owned by the Indian mutual fund industry
|Item Type:||MPRA Paper|
|Original Title:||Myopic investment view of the Indian mutual fund industry|
|English Title:||Myopic investment view of the Indian mutual fund industry|
|Keywords:||Mutual Fund, short term volatility, asset under management, investment churn.|
|Subjects:||G - Financial Economics > G1 - General Financial Markets > G11 - Portfolio Choice; Investment Decisions
G - Financial Economics > G2 - Financial Institutions and Services > G23 - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation
G - Financial Economics > G2 - Financial Institutions and Services > G24 - Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages
|Depositing User:||Pankaj Sinha|
|Date Deposited:||04. May 2010 02:27|
|Last Modified:||14. Feb 2013 01:55|
Agudo, L. F. and LÃ¡zaro, C. O. (2005). “Does Mutual Fund Management in India Correspond to its Investment Objective Classification?”, Review of Pacific Basin Financial Markets and Policies, vol. 8, pages 659-685.
Menkhoff, L. and Schmidt, U. (2005). "The use of trading strategies by fund managers: some first survey evidence," Applied Economics, vol. 37(15), pages 1719-1730.
Sadhak H. (1998), “Mutual Funds in India, Marketing Strategies and Investment Practices’, Second Edition, Response Books, Sage Publications India.
Sehgal, S. and Jhanwar, M. (2008). “Short-Term Persistence in Mutual Funds Performance: Evidence from India, International Research Journal of Economics and Finance, issue 15, pages 307-317.