Gender Differences and Factors that Affect Mutual Fund Investment Decision of Western Canadian Investors

Investing in mutual funds is an important decision for investors. This study extends the findings of Gill & Biger (2009) and Gill et al. (2011). Investors from Western Canada were surveyed to gather information. Subjects were asked about their beliefs, feelings, and perceptions regarding the factors that impact on their decisions to invest in mutual funds. Findings show that perceived mutual fund investment decisions of Western Canadian male investors are positively affected by their own perceived mutual fund investment expertise and their own perceived consultation with advisors. Results also show that perceived mutual fund investment decisions of Western Canadian female investors are positively affected by their own perceived mutual fund investment expertise and their own perceived knowledge of ‘neutral information’. This study contributes to the literature on the factors that influence mutual fund investment decision of investors. The findings may be useful for investment managers and investment advisors.