Trouble at Freddie Mac is likely to have serious implications for the mutual fund industry, CNBC.com reports. Institutions, primarily mutual funds, own 88% of the government-sponsored mortgage-finance giant.

Fidelity Investments owns nearly 8% of the stock, Putnam owns 7%, Alliance Capital 4.7%, Barclay’s Global Investors 4.6% and Pacific Financial Research 2.9%.

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