In case you didn’t know it already by looking at your clients’, or your own, portfolios, 2008 was one of the worst years ever for stock markets around the world. And as the stock markets go, so for the most part do mutual funds.
According to the January 2009 issue of The Cerulli Edge Global Edition, total U.S. mutual fund assets dropped nearly 20% to $8.97 trillion by the end of 2008′s third quarter from $11.4 trillion the previous year, with year-end numbers expected to be even more dismal.
Results for mutual funds in some nations have been even more disappointing, with some seeing mutual fund asset levels decline by more than half–Russia (-59.4%), Greece (-51.9%)–although on admittedly small bases.