Alireza Momeni - Assistant professor, Payame-Noor University Tehran, Iran

The purpose of this study is to investigate the effect of economic growth on changing trends in the asset-holding pattern of mutual funds. Mutual fund is divided two categories such as open-ended and close- ended. This research tries to study open-ended mutual funds. The Sample in this study were mutual funds companies in USA, which is beigest in term of assets under management (AUM) in the words. For analyzing data used the regression line over period time 2004 to 2012. The four components of the open-ended mutual fund that is equity funds (EF), bond funds (BMF), hybrid funds (HMF) and money market mutual funds (MMMF) as independent variables. Growth domestic production (GDP) countries became the dependent variable. The result of the study indicates that a higher GDP growth rate benefits equity funds, and affects money market mutual funds and bond funds adversely. In account of hybrid funds, there is no association between GDP and hybrid funds.

open-ended mutual funds, Equity fund, bond and income fund, money market mutual fund, GDP