Mutual funds are a huge and profitable business. According to the Investment Company Institute, at the end of 2013, $30 trillion worldwide was invested in these funds. More than half that amount was invested by approximately 96 million Americans in U.S.-based funds. U.S. retirement market assets are an estimated $23 trillion, and most of those investments are in mutual funds.
Given these staggering numbers, it’s sad that so many investors are woefully ignorant about the funds they are counting on for retirement. If they knew more, I suspect they would invest very differently.
Read the rest of the article on The Huffington Post.