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The Rise of Mutual FundsAn Insider's View$
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Matthew P. Fink

Print publication date: 2008

Print ISBN-13: 9780195336450

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780195336450.001.0001

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Other Responses to the Bear Market

Other Responses to the Bear Market

(p.95) 5 Other Responses to the Bear Market
The Rise of Mutual Funds

Matthew P. Fink

Oxford University Press

Well before the start of the bear market of the 1970s people in the fund industry, at the SEC, in academia, and elsewhere had thought of new types of funds and of new ways to distribute fund shares to investors. But the industry was doing so well with its traditional product, stock funds, and its traditional method of distribution, broker-dealers, that no one implemented these ideas. The bear market changed everything, and led to the creation of tax-exempt funds and index funds, funds' use of advertising, and the use of fund assets to pay for the distribution of fund shares.

Keywords:   distribution, tax-exempt funds, index funds, advertising, use of fund assets for distribution

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