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The Determinants of the Russian Mutual Funds Net Asset Value
Nowadays investing in mutual funds is becoming more popular, which can be noticed by the steady increase in the value of its net assets. The incresing flow of funds to the collective investment market is one of the state's priorities, but the reasons of the change in the value of net assets of Russian mutual funds have not been thoroughly studied. Using the least-squares regression model, it was found that funds that outperformed the market attracted more funds. In addition, it was obtained that if the fund has some degree of state support, its assets grow faster. Gaining a degree in Moscow positively affects the value of net assets, while other characteristics of the manager have no significant influence. The study confirmed the hypothesis that larger funds are growing more slowly. The conclusions obtained in this paper can be used by fund managers to form strategies for attracting clients.