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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Alena Elkina
Demand for Equity Funds in Russia
Finance
(Master’s programme)
8
2018
This study examines factors affected to the russian mutual funds flows. The analysis is carried out on the basis of a sample of 206 open-ended mutual funds for the period 2004-2017. The methodology is regression analysis of panel data. Three out of four hypotheses is confirmed: prior fund performance and its size positively affect the mutual funds flows.

There is a difference in such characteristics as the size and prior performance: these characteristics of "state" funds are higher than private funds. Investors do not take into account market risk when choosing a fund for investment. The practical importance of this research is as follows: Fund managers, understanding how investors operate and react to the performance of the fund, can use these dependencies to attract new investors to the industry.

Key words: unit investment funds, prior fund performance , CAPM model, Oaxaca - Blinder decomposition

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