Wealth creation in the 1990s has led to even greater demand for money management services today.In the U.S. alone,2.8 million Families have reached millionaire status.Mutual fund demand has continued to increase,as of 2002,there were 8000 different funds in the market ,up from just 3000 in 1990.In fact nearly 50 million house holds invest in mutual funds,with a total worth of $8.5 trillion,up from only $340 billion in 1984 and $1 trillion as recently as 1990.
As the industry has matured,total assets under management(AUMs) in the United States have grown to $20 trillion.Consolidation and Globalization have created a diverse list of leading industry players the range from well-capitalized divisions of investment banks,global insurance companies and multinational commercial banks to independent behemonths,such as Fidelity and Capital Group.
As the industry has matured,total assets under management(AUMs) in the United States have grown to $20 trillion.Consolidation and Globalization have created a diverse list of leading industry players the range from well-capitalized divisions of investment banks,global insurance companies and multinational commercial banks to independent behemonths,such as Fidelity and Capital Group.
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