Mutual fund shareholders

characteristics, investor knowledge, and sources of information

Authors

  • Gordon J. Alexander Jr. Carlson School of Management, University of Minnesota, Minneapolis, MN 55455, USA
  • Jonathan D. Jones Risk Management Division, Office of Thrift Supervision, Washington, DC 20552, USA
  • Peter J. Nigro Policy Analysis Division, Office of the Comptroller of the Currency, Washington, DC 20219, USA

DOI:

https://doi.org/10.1016/S1057-0810(99)00023-2

Abstract

This paper examines responses from a survey of 2,000 randomly selected mutual fund investors who purchased shares from six different distribution channels. The survey provides data on the demographic, financial, and fund ownership characteristics of mutual fund investors. It also provides data on investors’ knowledge of the costs and investment risks of mutual funds and the information sources these investors use to learn about these costs and risks. Our survey results strongly suggest there is room for improvement in the level of financial literacy of mutual fund investors. © 1999 Elsevier Science Inc. All rights reserved.

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Published

1998-12-30

Issue

Vol. 7 No. 4 (1998): Financial Services Review

Section

New Original Submission

License

Copyright (c) 1998 JAI Press Inc.

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How to Cite

Mutual fund shareholders: characteristics, investor knowledge, and sources of information. (1998). Financial Services Review, 7(4), 301–316. https://doi.org/10.1016/S1057-0810(99)00023-2