NONE 20260617123448711 wseas/wseas content-registration-form@crossref.org content-registration-form Financial Engineering 2945-1140 Dorina Koçi Department of Finance, Faculty of Economy University of Tirana Street “Arben Broci”, Tirana ALBANIA Meril Canameri Department of Finance, Faculty of Economy University of Tirana Street “Arben Broci”, Tirana ALBANIA This paper aims to investigate the key macroeconomic factors influencing mutual fund returns in Albania as a developing economy. Despite the growing importance of investment funds in emerging markets, research on the relationship between macroeconomic conditions and mutual fund performance in Albania remains limited. To address this gap, stepwise multiple regression analysis is employed to identify the most significant determinants affecting mutual fund returns, using annual data on GDP growth, inflation, treasury bill rates, and monetary policy rates. 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