Wealthy Americans Turn to Mutual Funds

Phillip Morton, Investors Offshore.com, reports that, "New research suggests that, despite the surging popularity of alternative investments, wealthy Americans are continuing to put their faith, and money, into mutual funds. Over the past 2 years, investors worth $5 million or more have doubled the percentage of investable assets allocated to mutual funds from 6% in 2003 to 12% in 2005, according to a new study released by financial services consultancy firm, Spectrem Group." Over the same period, cash deposits increased to 13% of investable assets, from 9%, and investments in individual stocks and bonds have declined to 18% and 8%, respectively, from 20% and 10%, according to the Spectrum study.

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(May '04-Jun '05)