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Ajidahun, Adebola Oluwakemi (2013)
Languages: English
Types: Doctoral thesis
2013 dissertation for MSc in Finance and Risk. Selected by academic staff as a good example of a masters level dissertation. \ud \ud In the wake of financial crisis, many investors are faced with the uncertainty\ud in investment decision as a result of the volatility in the market. In an\ud attempt to reduce this risk of uncertainties, investors have therefore\ud provided different method of risk management.\ud Past studies has shown the importance of fund managers in the management\ud of funds while some proves that fund managers are not necessary in\ud investment. This study carries out an in depth analysis in answering the\ud questions asked by investors; is it worth it to hire a fund manager in\ud investment in funds? This study tests the use of Monte Carlo simulation\ud method on mutual fund data in a practical way.\ud The research studies mutual funds in the United Kingdom, United States of\ud America, Germany and Nigeria.\ud The study also went ahead into analyzing emerging market funds and\ud European fund to create an in depth analysis of mutual fund and its\ud performance. It also shows how an efficient portfolio construction can help\ud market conditions. The study was carried out giving emphasis to the\ud importance of diversification. The result arrived at after the Monte Carlo\ud simulation was applied to mutual fund data were organized in form a\ud histogram in tabular form in other to carry out a precise analysis on the\ud result of the simulation.\ud This study however concludes that it is possible to outperform the market\ud index, even though it occurs in rare cases. The research was also able to find\ud out that investment decision on choice of securities depends on the risk\ud tolerance of the investors.

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