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Article: ICI Reports Majority of Mutual Fund Shareholders Own Stock Mutual Funds That Have Lower Fees Than Industry Average.
- Article from:
- PR Newswire
- Article date:
- September 29, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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WASHINGTON, Sept. 29 /PRNewswire/ -- A substantial majority of investors own stock mutual funds that charge lower fees than the industry average, Investment Company Institute President Matthew P. Fink today told a subcommittee of the Committee on Commerce of the House of Representatives.
"Competition is working in the interests of investors," Fink said. "Mutual funds fiercely compete to attract and earn the loyalty of investors. Indeed, mutual funds compete on many levels, including performance, investment philosophy, experience, specialized expertise and service. And let there be no doubt in anyone's mind -- mutual funds compete vigorously based on price."
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