According to the National Association of Investment Companies, at the end of 1960 there were approximately 2.9 million shareholders in investment companies. A significant part of the study covers the investment firm features which investors preferred. Half of the investors who replied to the questionnaire cited diversification as the primary advantage of owning investment firm shares.
A number of funds now point to the sizable holdings of their shares by college endowment funds, pension funds, charitable institutions, trade unions, and other large investors. Widespread ownership of investment firm shares presents the same problem of stockholder-management relations that confront investors in other securities. Owners of investment firm shares are not exempt from the lethargy, which characterizes American stockholders in general.
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