Inquiring into Characteristics of Successful Investment Managers in Iran: Human Capital Approach

Abstract

One of the main challenges in effective management of Mutual Funds is ensuring the availability of qualified managers in these institutions. Such managers can run investment resources effectively and ensure high return on investment for investors. This exploratory study aims to identify successful investment manager's dimensions and components. Since qualitative research methods is suitable for exploring people minds, experiences and their attitudes, in this study using 15 in-depth interviews with successful mutual fund managers were conducted content analysis approach. These managers had the best performance according to Sharp and Sortino index. The results of semi-structured interviews were categorized into five dimensions including behavioral, technical, individual, managerial and interpersonal that each of these dimensions consist of other concepts. Generally, this study shows that mutual fund managers in order to achieve the desired level of performance and success should possess different tangible and intangible characteristics. In fact, this study imply successful investment managers profiles in capital market of Iran which can be used as a benchmark for managers who want to become a desirable patterns in the field of mutual funds management.

Keywords

• investment managers
• performance appraisal
• human capital
• content analysis