The focus of this study is exploring determinants of mutual fund growth as its impressive growth, Compound Annual Growth Rate (CAGR) of . As documented by Ramasamy and Yeung (2003), growth of mutual fund industry among emerging markets is expected to grow at the rate of double digit by 2030. There are extensive research collections of . mutual fund or US funds investing in emerging markets ., Sharpe (1966), Petersen (2001), Kaminsky (2001), and Ramasamy and Yeung (2003). However, research on emerging mutual funds and their determinants is still limited. .
