International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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A Comparative Analysis of Risk Tolerance Levels between Generation Y and Generation Z Mutual Fund Investors

Author(s) Anjali Goyal, Divya Jaroli
Country India
Abstract The study examines generational differences in risk tolerance levels among mutual fund investors, with particular reference to Generation Y and Generation Z. Understanding variations in risk tolerance across generational cohorts is important for designing suitable investment products and advisory strategies. The primary objective of the study is to analyse whether significant differences exist in the risk tolerance levels of Generation Y and Generation Z mutual fund investors. A quantitative research approach was adopted, and data were collected from 230 mutual fund investors using a structured questionnaire. Risk tolerance was measured through a fifteen-item Likert-scale instrument, and the data were analysed using descriptive statistics, Levene’s test, and an Independent samples t-test. The findings reveal a statistically significant difference in risk tolerance levels between the two groups, with Generation Z investors demonstrating higher risk tolerance than Generation Y investors. The results highlight how generational characteristics influence investment behaviour and offer practical insights for financial advisors, mutual fund companies, and policy makers when tailoring investment strategies to generational risk preferences.
Keywords Risk tolerance, Generation Y, Generation Z, Mutual fund investment, Generational differences
Field Business Administration
Published In Volume 8, Issue 1, January-February 2026
Published On 2026-01-18
DOI https://doi.org/10.36948/ijfmr.2026.v08i01.66759
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E-ISSN 2582-2160
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