![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextgreen.png)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextred.png)
![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextgreen.png)
![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltext_open_medium.gif)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextred.png)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltext_restricted_medium.gif)
Mutual Fund Purchases by High Net Worth Individuals in India
Subscribe/Renew Journal
Mutual Funds (MFs) are an investment avenue for small investors. However, it has been observed that Indian MFs industry is dominated by institutional investors who hold about 65% of the Indian mutual fund assets, whereas retail investors account for only 1.3%. In the last decade, High Net Worth Individuals (HNWIs) have emerged as prominent players in the MF segment. A number of studies have been conducted to identify factors that motivate small investors to invest in Mutual Funds. There is sufficient amount of research that would help identify factors, which influence non Indian HNWIs, but research relating specifically to Indian HNWIs is lacking. This study aims to identify factors that drive Indian HNWIs to invest in Mutual Funds.
Keywords
High Net Worth Individuals, Mutual Funds, Investments
User
Information
- Attracting the Affluent: The First Guide to America's Changing Ultimate Market (1991), Financial Sourcebooks, Naperville, IL.
- Bowdoin, H (1986), Hybrid Products: An Alternative for Capturing the Emerging Affluent Market, Journal of Retail Banking 8 (Spring-Summer): 35-40.
- Burnett, J J (1991), Examining the Media Habits of the Affluent Elderly, Journal of Advertising Research 31 (October-Nov): 33-41.
- Business Week (1993), The Power of Mutual Funds, Business Week (18 January): 62-8.
- Capon, N, Fitzsimons, G and Prince, R A (1992), Rationality and the Mutual Fund Purchase Decision, under review for Journal of Financial Services Research.
- Consumer Reports Survey (1990), Survey Research Report: Mutual Fund Survey, unpublished manuscript.
- Elton, E J and Gruber, M J (1989), Modern Portfolio Theory and Empirical Work, John Wiley and Sons, New York, NY.
- Grinblatt, M and Titman, S (1989), Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings, Journal of Business 62 (July): 393-416.
- Hirschman, E C (1990), Secular Immortality and the American Ideology of Affluence, Journal of Consumer Research 17 (June): 31- 42.
- Kane, Snatini and Aber (1991), Lessons from the Growth History of Mutual Funds, working paper, Harvard University, Cambridge, MA.
- Liebtag, B (1986), Marketing to the Affluent, Journal of Accountancy 162 (August): 64-71.
- Markowitz, H (1959), Portfolio Selection: Efficient Diversification of Investments, John Wiley and Sons, New York, NY.
- Metzger, R O and Dey, S (1986), Affluent Consumers: What Do They Really Want?, Journal of Retail Banking 8 (Fall): 25-35.
- Patel, Zeckhauser, R and Hendricks, O (1992), Investment Flows and Performance: Evidence from Mutual Funds, Cross Border Investments and New Issues, working paper, Harvard University, Cambridge, MA.
- Prince, R A and Shutz, A (1989), Targeting the Affluent Small Business Owner, Bank Marketing 21(11): 38-9.
- Rose, S (1992), A New Approach to Private Banking, Journal of Retail Banking 14 (Summer): 11-15.
- Stanley, T J (1988), Targeting the Affluent Consumer, Journal of Business Strategy 9 (September-October): 17-20.
- Stanley, T J, Moschis, G P and Danko, W O (1987), Financial Service Segments: the Seven Faces of the Affluent Market, Journal of Advertising Research 27 (August-September): 52-67.
- Stanley, T J and Sewall, M A (1986), The Response of Affluent Consumers to Mail Surveys, Journal of Advertising Research 26 (June- July): 55-8.
- Tynan, C (1990), Marketing to the Older Consumer: A Qualitative Perspective, Management Decision 28(6): 34-41.
![](https://i-scholar.in/public/site/images/abstractview.png)
Abstract Views: 345
![](https://i-scholar.in/public/site/images/pdfview.png)
PDF Views: 1