A Study on the Satisfaction Levels of Mutual Fund Investors in Kurnool District of Andhra Pradesh


Authors : P. Naseema; C. Viswanatha Reddy

Volume/Issue : Volume 10 - 2025, Issue 12 - December


Google Scholar : https://tinyurl.com/5n7jcte8

Scribd : https://tinyurl.com/4vn89p9c

DOI : https://doi.org/10.38124/ijisrt/25dec1349

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.


Abstract : The mutual fund industry has emerged as a significant investment avenue for individual investors by offering diversification, professional management, and liquidity. The present study aims to analyse the satisfaction levels of mutual fund investors in the Kurnool District of Andhra Pradesh and to identify the major factors influencing their investment satisfaction. The study examines investor awareness, investment objectives, risk perception, fund performance, transparency, and the quality of services provided by mutual fund companies and intermediaries. Primary data were collected from mutual fund investors in Kurnool district through a structured questionnaire, and the data was analysed using descriptive and appropriate inferential statistical tools. The results reveal that investor satisfaction is largely driven by consistent returns, ease of transactions, timely information disclosure, and effective advisory services, while dissatisfaction arises due to market fluctuations, inadequate product knowledge, and lack of personalised guidance. The study suggests that enhancing financial literacy, improving communication strategies, and strengthening investor support services can significantly improve investor satisfaction and encourage long-term investment in mutual funds.

Keywords : Mutual Funds; Investor Satisfaction; Risk Perception; Fund Performance; Investor Awareness; Service Quality; Investment Behaviour; Kurnool District; Andhra Pradesh.

References :

  1. I. Ajzen, “The theory of planned behavior,” Organizational Behavior and Human Decision Processes, vol. 50, no. 2, pp. 179–211, 1991, doi: 10.1016/0749-5978(91)90020-T.
  2. J. C. Anderson and D. W. Gerbing, “Structural equation modeling in practice: A review and recommended two-step approach,” Psychological Bulletin, vol. 103, no. 3, pp. 411–423, 1988, doi: 10.1037/0033-2909.103.3.411.
  3. K. A. Bollen, Structural Equations with Latent Variables. New York, NY, USA: John Wiley & Sons, 1989.
  4. L. J. Cronbach, “Coefficient alpha and the internal structure of tests,” Psychometrika, vol. 16, no. 3, pp. 297–334, 1951, doi: 10.1007/BF02310555.
  5. J. F. Hair, W. C. Black, B. J. Babin, and R. E. Anderson, Multivariate Data Analysis, 8th ed. Boston, MA, USA: Cengage Learning, 2019.
  6. J. Hulland, “Use of partial least squares (PLS) in strategic management research: A review of four recent studies,” Strategic Management Journal, vol. 20, no. 2, pp. 195–204, 1999, doi: 10.1002/(SICI)1097-0266(199902)20:2<195::AID-SMJ13>3.0.CO;2-7.
  7. H. F. Kaiser, “An index of factorial simplicity,” Psychometrika, vol. 39, no. 1, pp. 31–36, 1974, doi: 10.1007/BF02291575.
  8. N. K. Malhotra and S. Dash, Marketing Research: An Applied Orientation, 7th ed. New Delhi, India: Pearson Education India, 2016.
  9. H. Markowitz, “Portfolio selection,” The Journal of Finance, vol. 7, no. 1, pp. 77–91, 1952, doi: 10.2307/2975974.
  10. J. C. Nunnally and I. H. Bernstein, Psychometric Theory, 3rd ed. New York, NY, USA: McGraw-Hill, 1994.
  11. W. F. Sharpe, “Capital asset prices: A theory of market equilibrium under conditions of risk,” The Journal of Finance, vol. 19, no. 3, pp. 425–442, 1964, doi: 10.2307/2977928.
  12. U. Sekaran and R. Bougie, Research Methods for Business: A Skill-Building Approach, 7th ed. Chichester, U.K.: Wiley, 2016.
  13. Association of Mutual Funds in India, Indian Mutual Fund Industry Annual Report, Mumbai, India, 2023. [Online]. Available: https://www.amfiindia.com
  14. Reserve Bank of India, Handbook of Statistics on the Indian Economy, Mumbai, India, 2023. [Online]. Available: https://www.rbi.org.in
  15. Securities and Exchange Board of India, Mutual Fund Regulations and Guidelines, Mumbai, India, 2022. [Online]. Available: https://www.sebi.gov.in
  16. A. Saha and A. Dutta, “Investor perception towards mutual fund investment: A study in India,” International Journal of Management Studies, vol. 5, no. 3, pp. 45–53, 2018.
  17. B. Singh and A. Jha, “An empirical study on awareness and acceptability of mutual funds,” in Proc. Regional Student Conf., Indian Institute of Management Ahmedabad, India, 2009.

The mutual fund industry has emerged as a significant investment avenue for individual investors by offering diversification, professional management, and liquidity. The present study aims to analyse the satisfaction levels of mutual fund investors in the Kurnool District of Andhra Pradesh and to identify the major factors influencing their investment satisfaction. The study examines investor awareness, investment objectives, risk perception, fund performance, transparency, and the quality of services provided by mutual fund companies and intermediaries. Primary data were collected from mutual fund investors in Kurnool district through a structured questionnaire, and the data was analysed using descriptive and appropriate inferential statistical tools. The results reveal that investor satisfaction is largely driven by consistent returns, ease of transactions, timely information disclosure, and effective advisory services, while dissatisfaction arises due to market fluctuations, inadequate product knowledge, and lack of personalised guidance. The study suggests that enhancing financial literacy, improving communication strategies, and strengthening investor support services can significantly improve investor satisfaction and encourage long-term investment in mutual funds.

Keywords : Mutual Funds; Investor Satisfaction; Risk Perception; Fund Performance; Investor Awareness; Service Quality; Investment Behaviour; Kurnool District; Andhra Pradesh.

CALL FOR PAPERS


Paper Submission Last Date
31 - January - 2026

Video Explanation for Published paper

Never miss an update from Papermashup

Get notified about the latest tutorials and downloads.

Subscribe by Email

Get alerts directly into your inbox after each post and stay updated.
Subscribe
OR

Subscribe by RSS

Add our RSS to your feedreader to get regular updates from us.
Subscribe