Study of the compatibility between the type of mutual fund management and the composition of fund assets
Quarterly Journal of Securities Exchange

Quarterly Journal of Securities Exchange

Study of the compatibility between the type of mutual fund management and the composition of fund assets

Document Type : Original Article

Authors
1 Ph.D. Student, Department of Financial Management, Kermanshah Branch, Islamic Azad University. Kermanshah, Iran.
2 Assistant Professor, Department of Accounting, Kermanshah Branch, Islamic Azad University. Kermanshah, Iran.
Abstract
Increase in number and variety of Mutual fund in the Iranian capital market has caused that these funds as one of the most important financial instruments, will be interest by the many investors and capital market players. funds statutes are one of the most important tools that used to estimate the rate of compliance of a fund with the investment needs of individuals so that investors can easily target their fund according to their investment needs. Therefore, by providing a new and innovative approach, the research seeks to detect that is there compatibility between the style of a Mutual fund with the actual composition of its assets or not?. for this reason, among the different styles of Equity Funds / Growth Funds and Balanced Funds active in the Iranian capital market, six of their most well-known ones were selected and then examined them according to the characteristics and composition of the portfolio. In the following, in order to estimate the scale of price changes of the shares in the portfolios of funds, and forecast their future behavior were used the time series analysis through the R program. The results showed that in funds without sponsor (Income style), there are maximum compatibility between the declared style of mutual funds and composition of fund portfolios. in contrast, composition of funds portfolios with sponsor have been most distence with declared style of mutual fund.
Keywords

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