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Does Mutual Fund Management in India Correspond to its Investment Objective Classification?

Author

Listed:
  • Luis Ferruz Agudo

    (Department of Accounting and Finance, Faculty of Economics and Business Studies, University of Zaragoza, C/Gran Vía, 2, Zaragoza, 50005, Spain)

  • Cristina Ortiz Lázaro

    (Department of Accounting and Finance, Faculty of Economics and Business Studies, University of Zaragoza, C/Gran Vía, 2, Zaragoza, 50005, Spain)

Abstract

The aim of this article is to investigate the mutual fund market in India and verify whether or not the fund classification obtained from the name given to identify them corresponds to that which would be obtained were prior management to be taken into account. This industry has undergone spectacular growth in recent years, making this study extremely interesting, not least because institutional control could be less in times of expansion. The methodologies employed in the study are factor analysis and cluster analysis. The former determines that risk would clearly identify two groups of funds in the same manner as public classification of the funds. Cluster analysis, on the other hand, identifies funds that are, in fact, very close to one another, when for the bulk of investors they are not.

Suggested Citation

  • Luis Ferruz Agudo & Cristina Ortiz Lázaro, 2005. "Does Mutual Fund Management in India Correspond to its Investment Objective Classification?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 8(04), pages 659-685.
    • Handle: RePEc:wsi:rpbfmp:v:08:y:2005:i:04:n:s0219091505000555
    DOI: 10.1142/S0219091505000555
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    Cited by:

    1. Anchada Charoenrook & Pantisa Pavabutr, 2017. "A Window into Thai Mutual Fund Managers’ Perception and Decision-Making Process," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-43, September.

    More about this item

    Keywords

    Indian mutual funds; factor analysis; cluster analysis;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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