Mutual Funds Growing

Over one quarter (3500) of all commercial banks now sell mutual funds, and the number is growing every day. In 1992, 33% of new sales of money market funds and about 14% of all sales of long-term funds were accomplished in financial institutions. According to the Investment Company Institute, about 27% of all households invest in mutual funds today. In 1980 only about 6% did. Investments in mutual funds, including much 401K, IRA, and other retirement money, now amount to $1.6 trillion and are gaining $1 billion a day.

Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 4, No. 4, 9/93