The aim of this paper is an analysis of an investment fund's portfolio structure utilizing fund's risk-tolerance coefficient, which is the reciprocal of the Arrow - Pratt measure of absolute risk aversion. The risk-tolerance coefficient indicates the fund manager's willingness to accept greater risk in order of their aggressiveness. We examined the aggressiveness of selected 15 equity open-end mutual funds using daily and monthly data from January 2003 to January 2009.
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