AN INTEGRATED AHP, TOPSIS AND SAW METHOD FOR RANKING THE MUTUAL FUNDS:EVIDENCE OF TEHRAN STOCK EXCHANGE

Since the advent of mutual fund in Iran financial market, one of the most concerns for managers and investors has been choosing the best fund for yielding and investing money. There are different techniques for ranking and choosing the best fund that each gives different results. This study aims to evaluate the most famous mutual funds in Iranian capital market by using a new combined technique. By applying a very creative and combined technique of Copeland, this study offer a new way to accommodate and help investors for choosing the best fund. For this purpose, three techniques of AHP, SAW and TOPSIS as the most famous techniques were combined to provide a better ranking mutual fund. All calculations for mutual funds were based on the data of Tehran stock exchange from year 2009 till 2015. According to the findings, Agah, Melli Bank and Pishtaz mutual funds acquired the top performance in Tehran stock exchange in the studied period

Keywords:

Integrated Copeland Technique , Mutual Fund , Rating