Journal Article

Mutual funds and annuities at Tenth District banks

Abstract: Mutual funds are today's second-largest financial industry in the United States, second only to commercial banks. Since 1990, mutual fund assets have more than doubled to $2.3 trillion. Such rapid growth, coupled with the desire of banks to expand into new financial services, has prompted up to one-fourth of all U.S. commercial banks to begin selling mutual funds and annuities. Some banks have even begun to manage and provide investment advice to their own mutual fund companies. This article shows that many commercial banks in the Tenth District states are following the national trend, with large banks leading the way.

Keywords: Mutual funds; Federal Reserve District, 10th;

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Regional Economic Digest

Publication Date: 1995

Issue: Q III

Pages: 15-19