Even after an entire year of headlines about the mutual fund scandal, most investors are ignorant of the regulatory probes. Of 744 mutual fund investors that
"The issue is probably even worse than the numbers would suggest because these are just the people who are willing to admit they dont know," said Lou Harvey, Dalbar president. But this is good news for the mutual fund industry, Harvey added. "Investors for the most part have not lost confidence, and there is no disenchantment with mutual funds as evil institutions."
The survey also showed that roughly 50% do not know what market timing is, 57% cant define late trading and 88% have no clue as to what soft dollars are.
Nonetheless, a number of shareholder activists still believe regulators should forge ahead, not least of them John Bogle,