Chapter

Early Development

Matthew P. Fink

in The Rise of Mutual Funds

Second edition

Published in print January 2011 | ISBN: 9780199753505
Published online January 2012 | e-ISBN: 9780199918805 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199753505.003.0004
Early Development

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This chapter discusses the first thirty years of the modern mutual fund industry, 1940 to 1970, which witnessed an extremely strong stock market and a corresponding boom in mutual funds as they were heavily concentrated in stocks. It details how the fund industry's success attracted the attention of competitors, and insurance companies became the first “outsiders” to enter the fund business. The industry's growth also led the Securities and Exchange Commission to seek and obtain legislation addressing mutual fund sales charges and management fees.

Keywords: mutual fund industry; mutual funds; insurance companies; SEC; competition; rate regulation; management fees; sales charges

Chapter.  7338 words. 

Subjects: Macroeconomics and Monetary Economics

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