Surveying the Effect of Combination of Natural and Legal Investors on the Return of Investment Funds

The current research is in direction of theoretic discussions of return to study the effect of combination of natural and legal investors on the return of investment funds. According to the spatial and temporal territory, the research population includes the active investment funds in Tehran stock exchange from 2009 to 2011, which the total amount of active mutual funds in this interval is 78 funds. The sample data of this research includes 9 investment funds and from them, three investment funds are with fixed income, three mutual funds are with large size and three mutual funds are with small size. For surveying the relationship between the variables of this research which consist of combination of natural and legal investors as the independent variables and return of mutual funds (NAV= Net Asset Value) as the dependent variable, the related data were collected monthly. The related data of combination of natural and legal investors and their return were collected monthly, for each fund, thus for each of them 12 items were considered. Pearson correlation test was used for studying the research hypotheses. Also, The SPSS V.18 software was used for analyzing the data. At the end of the research, while providing detailed results and findings, the mentioned cases will be wrapped up and the applicable suggestions related to this will be provided for managers and experts and also continuing and consistency of similar researches in the future will be provided.