Myopic investment view of the Indian mutual fund industry

Rajesh Manjrekar and Pankaj Sinha

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the investment behavior of Indian mutual fund industry. Since the majority of investors who invest in mutual funds are salaried individuals or individuals that own SMEs, the Indian Mutual Fund industry should have a long term investment horizon. However, the data from all mutual funds for the periods December 2007 to May 2008 and December 2008 to May 2009 reveals that the mutual fund industry has adjusted its position on a short term basis in tandem with the short term volatility of the market. The findings substantiate the SEBI Chairman’s observation that there is an urgent need to set up investment norms with regard to the holding period for stocks owned by the Indian mutual fund industry

Keywords: Mutual Fund; short term volatility; asset under management; investment churn. (search for similar items in EconPapers)
JEL-codes: G11 G21 G23 G24 G28 (search for similar items in EconPapers)
Date: 2010-05-02
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