In this study, we use the conjoint analysis to consider the impact to investors' preference on the mutual fund selection from the type of mutual funds, the investment channels and the ways of investment. We find the demographic characteristics and related investment situation have influence on the choice of mutual funds. Male has overconfidence bias and female has herding behavior. The people with younger tenure years and less family burden choose to invest through bank with stock mutual funds in a large sum. It coincides with overconfidence. The people with longer tenure years and more family burden choose to invest fixed income fund periodically. It coincides with herding behavior and endowment bias.