Mutual Fund Shareholders: Characteristics, Investor Knowledge, and Sources of Information
Document Type
Article
Publisher
Elsevier
Abstract
This paper examines responses from a survey of 2,000 randomly selected mutual fund investors who purchased shares from six different distribution channels. The survey provides data on the demographic, financial, and fund ownership characteristics of mutual fund investors. It also provides data on investors' knowledge of the costs and investment risks of mutual funds and the information sources these investors use to learn about these costs and risks. Our survey results strongly suggest there is room for improvement in the level of financial literacy of mutual fund investors.
COinS
Comments
Published by the Academy of Financial Services in Financial Services Review, volume 7 issue 4, 1998. Bryant users may access this article here.