With Japan’s economy finally revived, the nation’s mutual fund industry is booming, Yield reports. The number of Japanese invested in mutual funds has risen from 15 million in 1990 to 40 million today. Of the total $420 billion invested in mutual funds in the nation, $169 billion is in equity mutual funds. That’s 13% lower than its peak in 1989, even though the average Japanese stock price is only 50% of what it was in 1989.

As the U.S. mutual fund industry boomed during the 1980s and 1990s, Japan’s mutual fund industry is likely to grow even further over the next decade, Yield forecasts, projecting that total assets could top $2.5 trillion.

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