Factors Influencing the Customer Satisfaction of Fund Management Companies in Sri Lanka

In recent decades, customers have emerged as a crucial force in driving business success, with customer satisfaction now playing a pivotal role in an organisation’s survival. This trend extends to fund management companies in Sri Lanka, which are highly focused on their customers’ satisfaction. Consequently, it is essential for these companies to develop a comprehensive understanding of the factors that drive customer satisfaction. This study aims to identify and examine the key elements that influence customer satisfaction specifically within the context of fund management companies. Data for the study was gathered using a structured questionnaire to select the sample. The study collected data using a structured questionnaire and selected the sample through a multistage sampling method, receiving responses from 300 customers. To analyse data, Partial Least Squares Structural Equation Modelling (PLS-SEM) was employed with all tests conducted using Minitab-17 and SamartPLS 3 statistical software. Based on factors identified from previous scholars’ literature, the result indicates that both reliability and responsiveness are statistically significant and there is a significant influence on customer satisfaction of fund management companies in Sri Lanka. However, it also revealed that both convenience and empathy had no significant impact on customer satisfaction. Among the variables examined, the reliability factor was identified as having the most substantial effect on customer satisfaction in fund management companies. In conclusion, the study highlights that among the variables examined, the reliability factor has a significant impact on customer satisfaction of fund management companies. The study recommends that the government crafts and implements new policies designed to foster growth and collaboration between fund management companies and their customers.