X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO – Long before the litany of market timing and trading scandals swept the mutual fund industry, wealthy investors pulled back slightly for more favorable assets, according to a recent survey. Researchers at Spectrem Group, a consulting firm, polled more than 300 respondents with at least $5 million in net worth over the summer. The survey revealed mutual funds dropped to roughly 6% of assets in August, falling behind stock options and restricted stock, which comprised 3% of the respondents assets. High-net worth investors are turning to managed accounts for higher returns and certificates of deposit for safety, the survey discovered. Since 2001, managed accounts assets grew from 13 to 26%, individual stocks and bonds increased from 26% to 31% and cash edged up more than half from 3 to 9%, Spectrem reported. In 2004, nearly 67% said they planned to invest cash in individual stocks, 22% expect to invest cash stockpiles in real estate and 33% will shift cash to fixed income. Mutual funds were not an option, the respondents indicated.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.