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Mutual Funds and the U.S. Equity Market.
Federal Reserve Bulletin
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December 1, 2000|
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COPYRIGHT 2000 Board of Governors of the Federal Reserve System. 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.
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Eric M. Engen and Andreas Lehnert, of the Board's Division of Research and Statistics, prepared this article with the assistance of Richard Kehoe.
Mutual funds have become an important intermediary between households and financial markets, particularly the equity market. By providing liquid, low-cost shares in a diversified portfolio of financial assets selected by professional money managers, mutual funds have enabled an increasing number of households to enter financial markets. Indeed, about half of all U.S. households currently own shares in a mutual fund.
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 "Al Arabiya (Saudi Arabia)")
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