New Research by The Investment Company Institute (ICI) shows that US mutual funds are now worth over USD10 trillion. They found that assets reached USD10.013 trillion in October this year, an increase of 2.9 percent on September.
“The rise was is due to high levels of investors using mutual funds for long-term investments,” says Edward Giltenan a spokesman for ICI. “More investors are turning to mutuals for the long term than the funds were designed for.”
Stock funds also saw an increase in assets of 3.8 in October to USD5.67 trillion.