rational investment decisions but their decisions are usually influenced by several factors and restrictions; emotion, beliefs and biases, for example. Those factors and restrictions cause investors to
mutual fund. Such factors include emotion, personal belief and attitudes toward different channels of savings and investment. For example, some investors prefer low risk, principal guaranteed investment
of live. At present, a lot of 60-year-old persons are healthy and intelligent to make contribution to many useful activities and have longer live expectancy. With larger amount of pensions to be