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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Kristina Kasyanova
Mutual Investment Funds Returns’ Determinants
Economics
(Bachelor’s programme)
2016
Abstract

This paper is devoted to studying the key profitability factors of Russian mutual funds. Mutual funds are the new way of investing for the Russians that is gaining popularity, however, the main problem by choosing a Fund is the choice of a highly qualified Manager. The purpose of this study is to determine the factors affecting the yield of Russian mutual funds. The main research method was a building a multiple regression using the least squares method. Before modeling the simulations procedure was carriend out. It showed that not all managers do have sufficient skill in the management of funds, and high yield is due to other factors – in particular, a market factor, a size factor and the previous factor returns (momentum) that were revealed through attribution analysis. This study can be useful for investors considering mutual Funds as a financial instrument.

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