CHESTNUT HILL, - Mass. - A recent survey indicates that most mutual fund investors are satisfied with the services provided by fund companies, but some are still uncomfortable with technology-driven services.
The shareholder survey was conducted by the transfer agent committee of the National Investment Company Service Association, a mutual fund trade organization based here.
Some 30,000 investors from 30 mutual fund companies were contacted this spring, including units of banking companies such as Citicorp, Firstar Corp., and Wilmington Trust Corp. About 24% responded to the survey.
The survey results showed that 89% of investors said the level of service they received from their mutual fund company was excellent. The survey also said that 77% more investors are using mutual funds for savings and investment, than did in the 1994 survey.
But many shareholders did not consider services or information provided by technological means as critical or very important. Most preferred information to be delivered in "hard copy" form.
The exception came from respondents between the ages of 20 and 29 - about 4% of all respondents - of which a high percentage saw technology as an important vehicle for information delivery.