The '90s decade is characterized by the dynamic growth of the Greek investment services market. Mutual funds hold a prominent position in this market, which, within a framework of efficient and transparent operation as well as institutional completeness, attracted the interest and gained the trust of the savings public, resulting in impressive growth rates.
The analysis of the investment behavior of mutual funds and especially the study of the relationship between their performance and risk are obviously important issues to be examined. However, the study of the mutual funds market presents other dimensions, such as the microeconomic analysis of the organization and operation of this market, the effects of Greece's accession to the eurozone, the degree of internationalization of the mutual funds portfolio, the consequences of their activities on the financial system and the exercise of monetary policy, the behavior of the domestic mutual funds market during the recent currency disturbances, etc. Some of these are examined in detail in the corresponding chapters of the book.
The crisis that affected the mutual funds market during the period 2000-2003 demonstrated the great usefulness of this market both for the savings public and for the financial sector and the Greek economy in general, but at the same time revealed a series of weaknesses in the organization and operation of this market, which require immediate and radical treatment.