The cash flows in financial markets have a decisive role in directing the economy and the returns of financial institutions. Mutual funds are no exception to this base as an important and Innovative financial institution in Iran. Reviewing the net inflow cash flows of mutual funds in different periods of bull and bear has a particular importance for a better understanding of the absorption capacity of resources in this financial institution; therefore, the purpose that this research generally pursues Take the cash flows mutual funds in bull and bear conditions.
Accordingly, the main variables of this research are net cash flows in funds and bull and bear conditions of the market.In addition, the research sample contains mutual funds (4213 samples) from the beginning first of 2012 to the end of 2017. The results of this research indicate that there is significant difference between the net inflow in mutual funds in the bull and bear conditions. Also we found cash flow in mutual funds in bull condition is fewer than bear condition. As well there is no significant difference between net cash flows of funds in terms of dependence on the bank.