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Skimming; Mutual funds.(Regulating mutual funds)
- Article from:
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The Economist (US)
- Article date:
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November 8, 2003
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Copyright informationCOPYRIGHT 2003 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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America's mutual funds need a more alert regulator
SOLID, squeaky clean and somewhat dull. Until two months ago, this had been the image of America's mutual-fund industry, which had not been sullied by a single scandal for decades. And the industry has boomed on the back of its reputation as a safe way to invest in shares and bonds. Today almost 95m Americans have money invested in mutual funds, many through retirement plans supported by their employer, many others directly as investors. The success of America's mutual funds in promoting private investment in stock and bond markets has become the envy of the world.
So it came as a real shock in September when Eliot ...
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