Mutual Fund Performance and Flow of Funds

<p>Mutual fund industry has been steadily developing during the recent years. In particular, mutual fund investing (net assets) increased from 30 billion in 2003 to almost 590 billion this year while the total number of funds is 88 times higher than eleven years ago.&nbsp;<span style="font-size: 12px;">With increasing interest to mutual fund industry from market players (both institutional and individual investors) the investigation of factors driving the development of this field becomes especially important.</span></p><p><span style="font-size: 12px;">The principal aim of the study is analysing main factors influencing the direction and magnitude of mutual fund flows on the Russian market during 2005-2012. In general, both macroeconomic factors and fund-specific/ investor-related factors influence fund flows (the latter show stronger impact in increased uncertainty and turbulence). The shift in the attitude towards risk just after the recent world economic crisis &nbsp;changed the performance-flows relationship framework quite substantially.&nbsp;</span></p><div>&nbsp;</div><p>&nbsp;</p>