Effect of Tax-Deferred Assets on Mutual Fund Strategies of the Mutual Funds

Michael Owusu Akomeah, Yusheng Kong, Henry Asante Antwi


Mutual funds are financial intermediaries that pool savings of individual investors with a diverse tax consumers. In spite of the fact that a lot of funds are held basically by individuals who are taxable investors, quite a large amount of mutual funds’ assets are apprehended by certain retirement funds which are taxable. The main idea of the study investigated the investment strategies as well as the performance of mutual funds which are held by different tax customers is distinct from each other in Ghana. It was found in the study that, funds which are basically held by the taxable investors tend to be more tax efficient than the funds held basically in tax-deferred special retirement funds like the Tier two and Tier three in Ghana. There was no significance difference between the funds which are held fundamentally by retirement accounts against with those held by taxable investors that presumes that tac efficient fund managers constraints does not show to have costs in terms of minimum risk-adjusted returns.                        

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