Relationship between fundflow, and risks and returns of mutual funds in Thailand

Abstract

This research examines the relationship fundflow and systematic risk and return of 235 mutual funds in Thailand, all of which were registered for general investors, Invested in domestic equity securities, Net asset values are no less than 100 million baht. This study use the data January 2006 to December 2021. The study found that fundflow is not significantly associated from future systematic risk, For active fund with no tax benefit. Where fundflow is positively correlated with future systematic risk. It also found that fundflow is not significantly associated from future returns.