scholarly journals Mutual Funds as Venture Capitalists? Evidence from Unicorns

2020 ◽  
Author(s):  
Sergey Chernenko ◽  
Josh Lerner ◽  
Yao Zeng
Keyword(s):  
Conceptual Framework ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Early Stage ◽  
Agency Problems ◽  
Private Firms ◽  
Venture Capitalists ◽  
The Past ◽  
Board Representation ◽  
Private Venture

Abstract “Founder-friendly” venture financings and nontraditional venture investors have both flourished over the past decade. Using detailed contract data, we study open-end mutual funds investing in private venture-backed firms. We posit that conflicts between early-stage venture investors and liquidity-constrained later-stage ones influence the classic agency problems affecting entrepreneurs and investors. We find that mutual funds with more stable funding are more likely to invest in private firms and that financing rounds with mutual fund participation have stronger redemption, stronger IPO-related rights, and less board representation. These findings are consistent with our conceptual framework.

Mutual Funds

GIS Business ◽  
2019 ◽  
Vol 14 (4) ◽  
pp. 201-208
Author(s):  
Sonal Kumawat ◽  
Hemraj Kumawat ◽  
Vaishali Sharma ◽  
Pooja Verma ◽  
Priyanka
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Investment Decision ◽  
Indian Government ◽  
The Past ◽  
Adequate Knowledge ◽  
Investment Decision Making ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
Unit Trust

The Indian mutual fund industry witnessed a remarkable performance in the past 30 years. After independence, with the joint effort of the Indian government and the Reserve Bank of India, the establishment of Unit Trust of India marked the beginning of the mutual fund industry in India. With the opening of mutual fund industry in India, investors started taking the advantage of multiple investment opportunities. This leads to increase in savings to the funds along with banks. Mutual funds have given consistent favorable returns over the past year despite of slow growth. For making an investment in a highly sophisticated and complex financial market, investors need the support of financial experts to take an informed decision. These financial experts are mutual funds who act as an intermediary. Association of Mutual Funds in India is established to protect the interests of mutual funds along with its unit holders and to ensure the development of Indian mutual fund industry on ethical and professional lines. Today, investors prefers to invest in mutual funds amongst other investment options as mutual funds ensures protection of their interest by making an optimum investment decision making. Investment in mutual funds proved to be advantageous to those investors who are ready to take higher risk in order to earn higher return but they lack adequate knowledge of the market.

scholarly journals An Evaluation of Factors Considered while Selecting Mutual Funds: A Case of Brokers in Punjab

2014 ◽  
Vol 9 (3) ◽  
pp. 1748-1753
Author(s):  
Anu Sahi ◽  
Dr. Anurag Pahuja ◽  
Dr. Balram Dogra
Keyword(s):  
Empirical Study ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Distribution Channel ◽  
The State ◽  
Financial Advisors ◽  
The Past ◽  
Retail Investor ◽  
Fund Industry

The past years have been a defining period for the mutual fund industry, as lack of incentivisation has made it increasingly burdensome for the distributor to reach out to the retail investor. Rather, role of distribution channel is phenomenal in delivery of product or service. Majority of the investors relies on financial advisors for choosing mutual funds. Hence, it is imperative to unveil the factors considered while selecting mutual funds and attributes affecting success of mutual funds. It is a maiden effort in this regard, since no such empirical study as per best of our knowledge has been conducted in the state of Punjab till date.

scholarly journals Evolving American Investing Attitudes: The Hybrid Shift In Mutual Fund Distribution

2012 ◽  
Vol 10 (11) ◽  
pp. 613 ◽  
Author(s):  
Brian D. Fitzpatrick ◽  
Ethan McWilliams ◽  
David B. Vicknair
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Financial Planning ◽  
Human Mind ◽  
Third Party ◽  
Distribution Model ◽  
The Past ◽  
New Methods ◽  
The U.S ◽  
The Way

This paper studies the dramatic evolution in the way American investors choose to invest in the mutual fund industry. The industrys change from direct-to-shareholder model to a third-party distribution model is discussed, as well as the implications for future mutual fund investors. Ever since the first recorded asset and debt managers arose in the 14th and 15th centuries in Europe, investing has grown into a tug-and-pull type of system that the human mind seems drawn to. The way that Americans choose to invest their money is changing as we enter the 21st century and the new methods and procedures are having a greater impact than many of us realize. In the U.S., trillions of dollars each year are invested in mutual funds, but more and more investors are taking a less-involved route by allowing financial analysts to choose where their money is invested. In the following pages, we will take a closer look at the mutual fund market and its basic components, the ways that mutual funds have been viewed and traded in the past, and the revolutionary changes that are happening right under our noses that the average American may not even be aware of. With the help of many credible sources, such as the Investment Company Institute, Reflow Investments LLC, and the Financial Planning Journal, the change from direct-to-shareholder mutual fund distribution to third-party intermediary distribution will be explained and the effects these changes has on the average investor will be explored.

A study on performance evaluation of equity mutual funds schemes in India

2020 ◽  
Vol 07 (02) ◽  
pp. 2050017
Author(s):  
Ruchi Arora ◽  
T. V. Raman
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Secondary Data ◽  
Information Ratio ◽  
Portfolio Evaluation ◽  
The Past ◽  
Equity Mutual Funds ◽  
Secondary Data Sources ◽  
Fund Investment ◽  
Fund Size

Mutual Funds give a platform for everyone to participate within the Indian capital market with skilled fund management no matter the number endowed. In the past few years, among the various financial products in India, Mutual Funds have emerged as the favorite. There is no doubt that acceptance of mutual funds as an investment vehicle has certainly increased among investors as many investors are earning from mutual fund — as result of increase in information and awareness among investors. Smaller amount of risk is associated with mutual fund investment than directly investing in stocks. Fund manager needs to provide returns in order to construct a diversified portfolio. They take into account numerous factors like, fund size, scheme type, returns, risk, etc. The paper attempts to analyze portfolio evaluation of selected equity diversified schemes using volatility measures such as quantitative factors like Standard Deviation, Beta and the ratios such as Sharpe, Treynor, Jensen’s Alpha, Information ratio, Fama’s Measure, Expense ratio measures. Data for research are collected from the secondary data sources and selected from 30 Mutual Fund schemes 10 AMCs.

scholarly journals A Comparative Study of the Mutual Fund Schemes of Reliance and Unit Trust of India

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Tom Jacob ◽  
Thomas Paul Kattookaran
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Research Work ◽  
Investment Decisions ◽  
Monitoring And Evaluation ◽  
Close Monitoring ◽  
Statistical Parameters ◽  
The Past ◽  
Unit Trust ◽  
Investment Growth

The mutual fund industry has experienced phenomenal growth in the past two decades. The increase in the number of schemes with increased mobilisation of funds in the past few years shows the importance of the Indian mutual funds industry. Proper assessment of various fund performance and their comparison with other funds helps retail investors for making investment decisions. Among various financial products, mutual fund ensures the minimum risks and maximum returns to the investors. The development of various mutual funds products has proven to be one of the most catalytic instruments in generating momentous investment growth in the Indian capital market. In this context, close monitoring and evaluation of mutual funds have become essential. Therefore, choosing profitable mutual funds for investment is a very important issue. The main objectives of this research work are to analyse the financial performance of select mutual fund schemes of reliance and UTI through the statistical parameters such as alpha, beta, standard deviation, r-squared, Sharpe ratio. The findings of this research study will be helpful to investors for their future investment decisions.

scholarly journals Conceptual Framework for the Determinants of Mutual Fund Performance in Malaysia

2018 ◽  
Vol 3 (4) ◽  
pp. 48-53
Author(s):  
Hafinaz Hasniyanti Hassan ◽  
Nazimah Hussin
Keyword(s):  
Conceptual Framework ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Structural Equation ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Mediating Role ◽  
Fund Governance ◽  
The Relationship

Objective - The aim of the study is to identify the determinants of mutual fund performance. Mutual funds have grown in the global financial scene since the 1890s. Past studies have examined various issues associated with mutual funds. However, in Malaysia, mutual fund related studies are rather limited. While most global researches observe the determinants of conventional mutual fund performance, the literature in Malaysia focuses only on a comparison of the performance of mutual funds. Hence, this study aims to fill that gap by providing a framework to assess the determinants of mutual fund performance. More specifically, the study proposes a conceptual framework to determine the effect of historical return, fund governance, timing and selection skills on mutual fund performance. The advancement of the study can be found through the use of theory of performance and mutual fund fees as a mediator in determining the performance of mutual fund fees. Methodology/Technique - A quantitative approach based on secondary data will be used in this study. Multivariate regression analysis and structural equation modelling is also used to evaluate the relationship between the variables. Findings - A conceptual framework is proposed based on the Theory of Performance. The model fit and the mediating role of mutual fund fees will be confirmed after the collection of the research data. It is expected that historical return, fund governance, timing and selection skills will affect mutual fund performance and mutual fund fees will mediate the relationship between the two. Novelty – This study will provide a new perspective on mutual fund performance by using the Theory of Performance. In addition, the mediating role of mutual fund fees is further examined in relation to the specified determinants and mutual fund performance. Type of Paper - Review. Keywords: Mutual Funds; Fees; Performance; Mediator; Theory of Performance. JEL Classification: G10, G11, G19.

The Study of the Determinants Affecting the Performance of Mutual Funds in Indiaequity Mutual Fund

2019 ◽  
Vol 54 (5) ◽  
pp. 58
Author(s):  
Preeta Sinha ◽  
Tamal Taru Roy ◽  
Debi Prasad Lahiri
Keyword(s):  
Mutual Funds ◽  
Mutual Fund

How Many Mutual Funds Constitute a Diversified Mutual Fund Portfolio?

CFA Digest ◽  
1997 ◽  
Vol 27 (4) ◽  
pp. 35-37
Author(s):  
John H. Earl
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Fund Portfolio

A Critical Analysis of Selected Public and Private Mutual Fund Schemes in India

2019 ◽  
Vol 118 (8) ◽  
pp. 28-34
Author(s):  
Dr. V. Murali Krishna ◽  
Dr T. Hima Bindu ◽  
Dr. Ravikumar Gunakala
Keyword(s):  
Mutual Funds ◽  
Capital Market ◽  
Mutual Fund ◽  
Portfolio Diversification ◽  
Financial Intermediaries ◽  
Public And Private ◽  
Fund Managers ◽  
Fixed Base ◽  
Banking Institutions ◽  
Different Levels

Mutual Fund Industry is one of the emerged dominant financial intermediaries in Indian Capital Market. The main objective of investing in a mutual fund is to diversify risk. Though the mutual fund invests in diversified portfolio, the fund managers take different levels of risk in order to achieve the schemes objectives. Mutual funds allow portfolio diversification and relative risk management through collection of funds from the savers/investors, the same investing in equity and debt stocks. This type of invested funds is managed by professional experts called as fund managers Funds are categorized as income should fixed base in India are a kind of mutual fund which makes investment in debt securities that have been issued to the corporate, banking institutions and to government in general

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