Mutual Funds Rise in 1958 Amid Growing Investor Interest
Mutual funds led by 145 open end investment companies reached a 105 billion dollar asset level on June 30 1958 reflecting rising underlying portfolios and broad public acceptance. In the first half the year investors bought about 6854 million in shares as over 1.5 million individuals and institutions owned funds. The aims include retirement income education needs educational protection against inflation and long term growth.
MENTIONED IN THIS ARTICLE
United States
National Association of Investment Companies
Mutual fund redemptions and plans appeal to small investors
Shareholders and mutual fund investors favor diversification and professional management. In the first half of 1958 redemption totals reached about 195 million dollars, a 3.7 percent annual rate, compared with 212.8 million and 4.7 percent for 1957. Accumulation plans, totaling about 757,000 as of June 30, grow by roughly 18,000 monthly, enabling small investors to build modest estates from current income. Investors prize convenience and the ability to redeem shares anytime, a unique mutual fund feature that attracts long-range investing.
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