Fund Investors Ask, ‘Scandal, What Scandal?’

"Mutual fund investors have demonstrated a surprising lack of concern about the scandals that have rocked the industry, and when they do express anxiety, it involves pocketbook issues such as fees and overall return," said Cathrine McBreen, managing director at Spectrum. "While a general lack of knowledge about the issues no doubt contributes to this apathy, the findings do suggest that investors simply don't see a direct connection between the headlines and their own bottom lines."
An astonishing one-fifth of the investors surveyed said they didn't care about the scandals. Investors purchasing mutual funds through 401(k) plans were the least concerned about the scandals. Only 37% of the survey group expressed an interest in moving their assets to fund providers that were untouched by the scandals and more than half of the survey group expressed confidence in the industry.