Abstract
In this study, an attempt has been made to find out why investors still prefer broker-sold fund over direct-sold fund despite the superior performance of the latter. We find the sensitivity of funds flow in selected direct-sold funds and broker-sold funds in India. We do not find any evidence that direct-sold funds underperform the broker-sold funds. Despite the superior performance of direct-sold funds, Indian investors go for broker-sold funds because of ignorance and also for the additional services provided by the brokers. We find that fund houses in India offer both direct and broker-sold funds to target different segments of investors.
| Original language | English |
|---|---|
| Article number | 1612573 |
| Journal | Cogent Economics and Finance |
| Volume | 7 |
| Issue number | 1 |
| Early online date | May 15 2019 |
| DOIs | |
| State | Published - May 15 2019 |
| Externally published | Yes |
Keywords
- fund flows
- fund performance
- mutual funds
- total net assets
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