The purpose of the study was to establish whether diversification differs among individual investors based on their demographics and also whether diversification affects portfolio performance. Data was collected from 279 investors who trade at the Nairobi Securities Exchange, Kenya. The results depicted that diversification differs significantly based on experience but not age, education and gender. The relationship between demographics (age, and experience) and portfolio diversification was found to be significant. Diversification was found to affect portfolio performance with concentrated portfolio earning superior returns. Download
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