As of December 31, 1961, there were 195 investment compa nies, which were members of The Investment Company Insti tute, and had total assets of approximately $25 billion. Some 170 were open-end companies with assets of approximately $23 billion, and 25 were closed-end companies, with assets of around $2 billion. Net […]

GENERAL SURVEY Open-end investment companies are now generally known as mutual funds, the terms being used interchangeably. Un doubtedly, the word mutual has sales value, for it is associated with savings banks and certain life insurance companies. In a number of ways, open-end companies are no more mutual than the ordinary […]