The mutual fund industry is big business these days. Fueled by baby boomer retirement savings, mutual funds are given at least partial credit for driving the longest running bull market in history. According to Mutual Fund Factbook and Monthly Trends, both by Investment Company Institute, Washington, DC, $5.5 billion of Assets Under Management in 1998 were held in 7,314 mutual funds. In comparison, there are only 3,086 stocks traded on the New York Stock Exchange. Besides sheer size, mutual funds also affect market liquidity: Net Inflows (money deposited minus money withdrawn) has varied from $100 million in one week to over $7 billion in another week. Research on mutual funds isn't limited to those working in the financial sector, although the level of sophistication on the part of the requestor may differ considerably.
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