The Attitudes of Accountants Towards Mutual Funds in Kuwait

Abstract

The purpose of the study is to find out the attitude of accountants towards Mutual Funds (MFs) and explore the responsible factors for picking them as an investment option. To achieve this purpose, 120 questionnaires have been distributed to random accountants investing in MFs in Kuwait. A total of 100 questionnaires were returned: resulting in an 83% usable response rate. Descriptive statistics which involve the mean, standard deviation and the Mann-Whitney U test are employed to examine the participants’ answers. The findings of the study revealed that relatives and friends as the primary sources of information to accountants followed by recommendations from brokers and the internet. It also revealed that accountants ranked lack of awareness as the main problems faced selecting MFs and ranked regular income and risk involved as the main factors behind investing in MFs. This study is useful in providing evidence in favor of investors and has implications for both practitioners and academicians.