Abstract

http://ssrn.com/abstract=1738954
 


 



Analysis of Behavior of Mutual Fund Returns - With Special Reference to Equity Schemes


S. Vimala


affiliation not provided to SSRN

Dr. C. Dhanalakshmi


affiliation not provided to SSRN

January 12, 2011


Abstract:     
Mutual fund is an investment company or trust that pools the resources from thousands of its unit holders, who share common investment goal, and then diversifies its investments into different types of securities in order to realize potential returns with reasonable safety.

The objective of the study is to analyze the behavior of mutual fund returns of select mutual fund schemes. To fulfill this objective of the study the following hypotheses have been formulated and tested:

- There is no significant difference in the returns of mutual fund equity schemes.
- There is no significant difference between the average return of the scheme and the average return of Bombay stock exchange National Index.
- There is no significant difference in the Independence of mutual fund returns.

To understand and analyze the behavior of mutual fund returns statistical tools viz. Mean, Standard deviation, coefficient of determination, Skewness, and Kurtosis are used. Paired “t” test been applied to test the significant difference between average returns of each scheme and the average return of Bombay Stock Exchange National Index. To test the independence of mutual fund returns, Runs test, regression techniques and Correlation techniques are used.

Among 50 equity schemes HSBC equity Fund have earned the highest average monthly return is (3.91%). The highest volatile nature is observed from the Standard deviation of schemes. Taurus Discovery Fund has the high volatile nature. The behavior of returns of mutual fund schemes are analyzed through comparison of returns and dependence of schemes on past performance.

Number of Pages in PDF File: 15

Keywords: Diversified investment, Behaviour of Return of 50 equity schemes, kurtosis, skewness tool

JEL Classification: E22, G11

working papers series


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Date posted: January 13, 2011  

Suggested Citation

Vimala, S. and Dhanalakshmi, Dr. C., Analysis of Behavior of Mutual Fund Returns - With Special Reference to Equity Schemes (January 12, 2011). Available at SSRN: http://ssrn.com/abstract=1738954 or http://dx.doi.org/10.2139/ssrn.1738954

Contact Information

S. Vimala (Contact Author)
affiliation not provided to SSRN ( email )
Dr. C. Dhanalakshmi
affiliation not provided to SSRN ( email )
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