BOSTON - Although the mutual fund industry, with 10,000 funds on the market, has been called glutted, some fund consultants say that fund companies must introduce yet more mutual funds if they want to continue to attract assets.

"Being in the fund industry is like being a shark," said Charlie Carr, executive vice president and director of national sales for Funds Distributor, a mutual fund consulting and research firm in Boston. "You either swim or you die." Carr was one of a number of executives who said developing ever more funds was necessary at a conference sponsored by Graylyn Associates of Boston on market trends and competitive issues in the mutual fund industry here early this month.

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