Financial literacy impacts mutual fund behavior in Pakistan, guiding investors.
The study looked at what influences people's decisions when investing in mutual funds in Pakistan. They surveyed 500 investors and found that how risky they think the investment is, how much they expect to earn, and how much they know about mutual funds don't really affect their behavior. However, what does matter is the criteria they use to choose where to invest. Also, having good financial knowledge doesn't make a big difference. This information can help investors and policymakers understand what drives mutual fund investment behavior.