연령대에 따른 개인투자자의 펀드투자행태 및 펀드투자이해력

Investment Behaviors and Literacy of Mutual Fund Investors according to Age Groups

The purpose of this study was to compare mutual funds investment behaviors and mutual funds literacy of Individual investors according to age groups. The data were drawn from '2012 Investor Survey' data collected by Korea Invest Protection Foundation, and 1,269 investors who held mutual funds were selected. Main results were as following: First, fund investors had average 4.92 types of funds. Most investors bought funds through banks or security firms. Second, most of the fund investors found difficulties in understanding fund terminologies, the timing for subscription for funds, and the decision to redeem their funds. Third, in answer to a question about the reason why they invested in funds, most investors in all age brackets said that it was because of the rate of return. The direct reason for them to begin fund investments was because of the active advice of a sales employee with investors in their 40s or over highly affected by this. Fourth, for investors in their 50s or over, in many cases they acquired information about fund investment after listening to the explanation of employees. With regard to investors in their 40s, many of them obtained such information from newspapers, magazines, and TV. Fifth, for investors in their 40s and 50s or over, their funds literacy was lower than that of investors in their 20s. In particular, their understanding of information about commission for fund sales was very low. The ratio of correct answers to questions related to redemption fees and the dispute conciliation institute was less than 50%.