the role of investors’ objective financial knowledge on the assessment of risk disclosures in mix mutual funds advertisements in iran (the evidence of mutual funds in iran)

financial literacy of investors reduces uncertainty on future decisions and increases predictability of investment policies in financial markets. thus, the lack of clear information on financial markets is a determining factor in the arrival of domestic and foreign capitals and their quick exit in case of crisis. the lack of transparency and basic knowledge on decisions and failure to provide regular information in order to meet the reasonable expectations force the private firms to increase the flexibility of asset values and investments by further investigation of their expectations and expect higher risk for their investments. therefore, the main objective of this study was to examine the role of financial literacy of investors in evaluating the risk disclosure of promotion mix by mutual investment funds in iran. the population of this study included 120 mutual investment funds in iran; the sample size (384) was calculated by the krejcie -morgan table. data was collected by field studies using interviews and questionnaires, including financial literacy of investors and risk disclosure of promotion mix by investment funds, as well as archival studies. construct validity was used to determine the validity of the questionnaires, which were validated. cronbach's alpha was used to determine reliability. finally, data was analyzed by spss software. the results show that financial literacy of investors influences the risk disclosure of promotion mix by mutual funds in iran. the financial literacy of investors reduces uncertainty of future decisions and increases predictability of investment policies in financial markets. moreover, financial literacy of investors leads to predictable risk and return among those who are interested in investment in iranian mutual funds