News Flash- Fund Capital Gains Reach Lowest Point Since 1990

Many mutual fund shareholders were pleasantly surprised in April by plentiful embedded losses in their investments. Capital gains paid by mutual funds slumped in 2003 to an estimated $14 billion, the lowest level since 1990, according to a study by the Investment Company Institute. The lengthy bear market also contributed reduced levels of capital gains payments totaling $16 billion in 2002, which dramatically trailed a record $326 billion in 2000.