Mutual Funds Steady, Investors Keep Money In
The assets that Boston's mutual fund companies manage appear to be holding steady after months of investors taking money out.
The consulting firm, Financial Research Corporation, says overall, people have stopped taking their money out of Boston-managed mutual funds. Analyst Bridget Bearden says investor runs on deposits have slowed, despite the still rocky market. Now she says there's a lot of money sitting on the sidelines.
"According to our most recent data we haven't seen any investors jumping back into the game yet," says Bearden.
Last year was brutal for Boston mutual fund companies. According to the limited numbers Bearden's company tracks, the assets Fidelity Investments manages are down 43 percent from last year.
This program aired on March 25, 2009. The audio for this program is not available.