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Myopic investment view of the Indian mutual fund industry

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  • Manjrekar, Rajesh
  • Sinha, Pankaj

Abstract

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

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22458.

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Date of creation: 02 May 2010
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Handle: RePEc:pra:mprapa:22458

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Keywords: Mutual Fund; short term volatility; asset under management; investment churn.;

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  1. Lukas Menkhoff & Ulrich Schmidt, 2005. "The use of trading strategies by fund managers: some first survey evidence," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 37(15), pages 1719-1730.
  2. Luis Ferruz Agudo & Cristina Ortiz Lázaro, 2005. "Does Mutual Fund Management in India Correspond to its Investment Objective Classification?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., World Scientific Publishing Co. Pte. Ltd., vol. 8(04), pages 659-685.
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