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February 10, 2003 at 07:00 PM
The vast majority of mutual fund shareholders have a long-term investment horizon, according to a survey by the ICI.
In a report, the trade group stated that 97% of fund shareholders regard their mutual fund investments as long-term and 72% identify retirement as their `primary financial goal.’ In addition, more than 80% indicate they are not `overly concerned with short-term market fluctuations.’
The ICI further noted that retirement investors continued to keep a long-term investment horizon despite adverse market conditions. ICI cited that in 2001, net new cash flow to mutual funds from retirement accounts was an estimated $140 billion, up 18% from the year 2000. The net flow was the third largest on record, and the increase in flows occurred in both IRAs and defined contribution plans.
