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Finalist for the National Post Business Book Award An entertaining dissection of a huge and important but almost invisible industry. Daniel Stoffman became intrigued by the mutual fund industry while writing Boom Bust & Echo with David K. Foot. The stock markets, driven by baby boomers saving for their retirement, were enjoying an extended bull run. Mutual funds which few people had even heard of in the 1960s were becoming the investment vehicle of choice for Canadians. Stoffmans first surprise was that the fund companies Fidelity and Altamira, Investors Group and Trimark, AIC and Mackenzie see themselves not as financial institutions but as manufacturers of products. These products are marketed to consumers, just like soft drinks or automobiles or razor blades. The most successful companies arent those that provide the best returns on clients investments, theyre the ones that most effectively market their products. The industry has done a fine job of keeping Canadians ignorant of its workings, Stoffman discovered, and with good reason. Most investors are unaware of the fees they pay to own mutual funds. Few realize that financial planners are remunerated by the fund companies

Author

Stoffman, Daniel

Publisher

Toronto: Macfarlane Walter & Ross

Published

2000

Language

EN

ISBN

9781551990866

Subjects

Economics, Finance, Business