(Sept. 10, 2002) -- While the number of funds has quadrupled since 1990, a record number of mutual funds have gone the way of the dodo bird since the bear market began in March 2000, according to mutual fund tracker Morningstar.
Morningstar data showed 414 stock mutual funds have been liquidated (sold all their holdings and distributed the proceeds to investors) during the past two years, according to a report by USA Today. That number represents half of the liquidations in Morningstar's database, which covers 4,074 stock funds. Another 566 stock funds merged into other funds, the report said.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access