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Topsy-turvy times for mutual funds |
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If you're a mutual fund investor, the damage from the financial crisis is easy enough to measure: The typical blue-chip stock fund, for example, is down 34% over the past year. What may be less obvious to you is the trouble the crisis has caused fund companies - and what that means for your portfolio. After two decades of booming growth, the fund industry is going through its own meltdown. Long-term assets held by fund companies plunged 37% between October 2007 (when the bear market started) and the end of last year. The result: a wave of budget cutting and consolidation.
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