Regression analysis shows macroeconomic factors influence net asset value in Russian closed-end mutual funds, indicating potential management strategies.
The article studies the impact of macroeconomic factors on the yield of net asset value of separate closed-end mutual investment funds included in the calculation base of the Moscow Exchange real estate funds index. In the regression analysis, macro indicators such as the industrial production index, consumer price index, monetary aggregate M2 and the key rate were used as explanatory variables. It was established that the net asset value of separate funds is influenced by various combinations of factors, which made it possible to group the obtained models according to the number of significant variables. It was revealed that in the aggregate of all constructed models, all selected factors have an impact on the net asset value indicators of Russian closed-end mutual funds. The obtained results can become one of the aspects of the methodology of real estate fund management.
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Evlakhova et al. (2025) studied this question.
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