Oct. 27, 2004 — Shareholders still have a favorable opinion of the mutual fund industry, although the recent trading scandal and the bear market have cooled investor sentiment, a survey by a trade group found.
The survey by the Investment Company Institute found that 72% of fund shareholders had “very” or “somewhat” favorable impressions of fund companies this year, compared with 71% in 2003.
Eighty-four percent had a favorable impression in 2000. That was the highest level since 1997, when the ICI began conducting the survey.