Nearly overnight, it seems, managing mutual funds has become a mainstream banking business.

At the end of 1994, 115 banking companies managed proprietary mutual funds, with assets topping $300 billion, according to Lipper Analytical Services. That's a healthy slice of the $2.164 trillion invested in all mutual funds.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.