An empirical analysis of the effect of COVID-19 on the Indian mutual funds industry

Rupsa Mahapatra, Kishore Kumar Das (), Shahnawaz Ali and Pradeepta Banerjee ()
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Rupsa Mahapatra: Department of Commerce, MPC Autonomous College, Takhatpur, Baripada 757003, India
Kishore Kumar Das: Department of Commerce, Ravenshaw University, Cuttack 753003, India
Shahnawaz Ali: AFS Department, Oman College of Management and Technology, Muscat, Oman
Pradeepta Banerjee: Department of Business Administration, Sidho-Kanho-Birsha University, Purulia 723104, West Bengal, India

International Journal of Financial Engineering (IJFE), 2025, vol. 12, issue 03, 1-21

Abstract: Purpose: This research aims to examine and study the direct impact of change in COVID-19 cases and IIP index on the performance of NIFTY and selected mutual funds NAV performance for one year from the date WHO declared COVID-19 pandemic on 11 March 2020.Approach/Methodology/Design: The study applies using daily NAV series of four mutual funds across sectors. ANOVA, Correlation, Regression, Descriptive Statistics.Findings: There is a strong relation among NIFTY 50 and all the four mutual funds’ NAV performance, however, the relation between daily reported COVID-19 cases and NAV performance couldn’t be established.Practical Implications: Economic turmoil has affected the disposable income of investors, the capital market is very volatile. This study will help the researchers and analysts to understand the relationship between COVID-19, NIFTY 50 index and select mutual funds NAV movements. And they can make a better decision under a similar situation.

Keywords: COVID-19; mutual fund; NIFTY 50; analysis; pandemic (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1142/S2424786325500021

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