Wealthy Give Doge & Cox, Blackrock, Columbia Top Billing

A survey on perceptions of mutual funds by the Luxury Institute, a research organization that caters to the high-net-worth and the companies that serve them, found that Dodge & Cox, Blackrock and Columbia are considered the most "prestigious" fund families out of a listing of 23 firms.

The survey, conducted online among 1,500 people with an average net worth of $3.4 million and an average income of $329,000, found that the wealthy consider the investment products from Dodge & Cox to be consistently superior in all market conditions and that the firm is especially admired by penta-millionaires.

Many high-net-worth individuals achieved their wealth through their own achievements and are very selective about which firms they invest with, said Milton Pedraza, chief executive officer of the Luxury Institute. “It is amazing how well informed they are about scandal, conflict of interest and lack of transparency, and they rate brands accordingly,” Pedraza said. “In these times of market volatility, high-net-worth investors look for trustworthy performers who help them mitigate the downturns and make them prosper in the long term.”