Evaluation of the performance of the Refinery Fund: Examining the challenges and providing solutions

اقتصاد پولی مالی

Article 8, Volume 30, Issue 26, July 2023, Pages 243-279   

Document Type: Original Article

DOI: 10.22067/mfe.2024.80549.1273

Authors

Seyyed Abdollah razavi^{* 1}; Seyyed Mohammad Javadi²

¹Associate professor, Department of Energy Economics and Management, Petroleum University of Technology, Tehran Faculty of Petroleum, Tehran, Iran,

²Assistant professor, Department of Accounting, Petroleum University of Technology, Tehran Faculty of Petroleum, Tehran, Iran,

Abstract

Investment funds are one of the suitable tools for investing in the capital market, which manage risk by diversifying the composition of assets. The first refining fund was launched by the government in 2019. Based on economic theories, it was expected that the price of the investment units of this fund would be higher than the value of the assets in that fund, but for various reasons, this did not happen and the price of the shares of this fund has always been sold below the nominal value. The purpose of this research is to identify the influencing factors on the activities and evaluate the performance of this fund. This research is of the type of library studies, through interviews with experts, 16 important factors affecting the performance of the 1st Refinery Fund were identified. Finally, the information was collected from the questionnaire using a five-point Likert scale to answer the questions of the questionnaire. In this regard, the required quantitative information was collected through the design and distribution of a questionnaire among 35 experts and analyzed using the statistical method of analysis of variance (ANOVA). The results of the research show that the identified factors have affected the performance of the 1st Refinery Fund in different ways.

Keywords

Investment fund; first refinement; performance evaluation

References