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Determinants of Mutual Funds Performance in Pakistan

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  • Muhammad Asad
  • Danish Ahmed Siddiqui

Abstract

The aim of this thesis is to investigate various fund attributes influencing returns of Pakistani mutual funds. For this ten types of Mutual funds were selected for the period of 2015-17, and the effect of six micro and two macro fund specific variables on their returns were analyzed. Models have analyzed the effect of all factors in different categories of funds & for different classes of funds. Results showed that the attributes having impact on mutual fund return are risk and expense ratio positively. Some variables have no impact on fund returns i.e. fund size, fund age, and risk return coefficient, moreover macroeconomic factors (GDP and Interest rate) & risk adjusted return have negative relation on fund returns. Macro factors impact have difficult to analyzed with mutual fund return because relation of fund returns mostly depends on its micro factors and its fund manager expectation regarding market. However macro-economic factors affect the overall fund market or any specific class of funds. Sector wise analyze describes the detail effect of each variable in this research, however expense ratio have positive effect on fund return in conventional return but negative for Islamic fund returns.

Suggested Citation

  • Muhammad Asad & Danish Ahmed Siddiqui, 2019. "Determinants of Mutual Funds Performance in Pakistan," International Journal of Social and Administrative Sciences, Asian Economic and Social Society, vol. 4(2), pages 85-107.
    • Handle: RePEc:asi:ijosaa:v:4:y:2019:i:2:p:85-107:id:73
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    Citations

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    Cited by:

    1. Abdul Mateen & Rana Yassir Hussain & Shujah-ur- Rahman, 2023. "Economic Fluctuations and Mutual Fund Performance in Pakistan: A Comprehensive Analysis Including the COVID-19 Period," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(3), pages 878-887.
    2. Mohammad Hariri, 2022. "Characterization of Islamic Investments Funds: A Systematic Literature Review," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(5), pages 1-14, May.
    3. Hafiz Muhammad Mushtaq & Kanwal Iqbal Khan & Adeel Nasir & Naheeda Ali, 2022. "Evaluating The Performance Of Islamic And Non-Islamic Mutual Funds: A Comparative Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 11(1), pages 184-196.
    4. Meryem Mehri & M. Kabir Hassan & M. Fasial Safa & Ibrahim Siraj, 2021. "Do determinants of fees differ between Islamic and conventional funds?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3599-3623, July.

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