Even as the Investment Company Institute at its general membership meeting pored over ways to fix the mutual fund scandal and not let anything like it happen again, investors and executives are already considering the scandal a done deal, according to a column in The St. Paul Pioneer Press Monday.
Chuck Jaffe wrote that moving on, not pondering the past, was the key message at the meeting. The writer cites studies by Strategic Insight that show funds have successfully halted market timing and late trading and that investors have returned to their previous concerns. He quotes Sheldon Jacobs of the No-Load Fund Investor as saying, "People have heard enough about the scandals. They are back to asking which type of assets to buy now and which funds look good."
Jaffe says four areas of changes not always in the headlines before the scandal - rules and regulations, attitudes, information and skepticism are now back foremost on the minds of investors and executives.