Mutual Fund Performance Analysis Using Nature Inspired Optimization Techniques: A Critical Review

Abstract

Successful prediction of mutual fund with maximum accuracy is a great challenge because of highly fluctuating behaviour of the financial market. The prediction of Net Asset Value (NAV) of mutual fund helps investors to wisely plunge money into profitable mutual funds. This survey covers more than 40 related published articles in the field of mutual fund and gone through a systematic review of the various nature inspired techniques, used for NAV prediction with its performance analysis. The performance of mutual fund is highly correlated with the stock market, hence some of the stock market prediction analysis is also well throughout. Through this survey it is found that very few works is done in the field of NAV prediction using optimization techniques while for performance analysis of mutual fund many nature inspired optimization (NIO) techniques have been employed. On the whole, this paper gives a comprehensive review of the literature in the field of mutual fund.