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Article: Down, but not out: mutual funds have taken quite a hit, but still remain an invaluable investing vehicle.
- Article from:
- The Practical Accountant
- Article date:
- November 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. 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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There are about $6.4 trillion dollars invested in mutual funds of all kinds in the U.S with the ownership widespread. As of May 2001, 93.3 million individuals, representing 52 percent of all U.S. households, owned mutual funds according to the Investment Company Institute (ICI). According to the ICI, in those households, the primary financial decision maker is typically middle-aged, marred, college-educated, of moderate financial means, has $40,000 invested in mutual funds, purchased the fast one through a retirement plan, and has long-term investment goals.
So, it is no wonder with this sustained bear market that investors are seriously questioning whether they ...