Harnessing Research in Finance for Resilience and Sustainability: The 5th Annual Development Finance Conference (ADFC 2023)

Held on October 25th and 26th, 2023, the Fifth Annual Development Finance Conference (ADFC 2023) marked a pivotal moment in the field of development finance. Organized by the Department of Finance and Accounting the conference examined the crucial role of finance in tackling pressing global issues.

Does Portfolio Diversification Affect Performance of Balanced Mutual Funds in Kenya?

Literature provides conflicting results on the effect of diversification on performance of mutual funds with some studies showing a positive relationship (Markowitz, 1952; Muriithi, 2005; Kagunga, 2010), others negative (Chang & Elyasiani, 2008; Fiegenbaum & Thomas, 1998) and still others showing that there is no relationship between the two variables (Loeb, 1950). It is with this background that this study sought to establish the effect of diversification on performance of mutual funds in Kenya.