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Mutual funds turn 100


Jason Zweig at the WSJ

Mutual Funds

Comments

  • Thanks, Mark!
  • Wow. Love that Sargent painting at the end of the article. Nothing like that palette in his stuff at the National Gallery that I remember.
  • edited March 13
    Fund industry trade association ICI also has features on this "100th Anniversary Year" for mutual funds/OEFs.
    https://www.ici.org/news-release/24-news-mf100
    https://twitter.com/ICI/status/1752367498039566341
    https://twitter.com/ICI/status/1765746727003320432

    More
    MITTX https://twitter.com/DividendGrowth/status/1752526427042238817

    Keep in mind that CEFs are older and go back to 1850s. They were complex then, as they are now. OEFs developed in response to CEFs. Then in 1990s, ETFs developed as a further improvement. CEFs didn't sit still and came up with things like Interval-Funds (like Roach Motels, easy to get in, but hard to get out), new term-structure CEFs with definite 12.0-13.5 life.

  • Old_Skeet owns a MFS sister fund MIGFX that dates back to 1930. At one time I owned MITTX but merged it into MIGFX as it had better returns and both are considered LCG funds.
  • Pretty soon we will hit the 100th anniversary of my father's getting a few shares of what is now XOM from his dad who worked there.

    I still have the original broker tickets. When he died the cost basis was close to $4 a share
  • edited March 16
    For gifting some shares from my Schwab a/c to a relative's Fido account, I prepared a letter stating the gift, share#, cost basis, approximate value, both account names and #; some of this was redundant because the brokers provide the info on transfer. This was given to Fido, and an asset transfer form was completed, and a few days later the shares were transferred. So, one doesn't have to move a/c to do this.
  • From a WSJ email today (3/21/2024) - "On this day in 1924, the Massachusetts Investors Trust, the first open-end mutual fund, was founded in Boston by a former cookware salesman and two investment bankers. The minimum initial purchase of five shares cost $262.50, or $2.50 less than a new Ford Model T runabout."

    Makes me wonder what that Model T runabout in mint condition might be worth today and also the value of that initial investment left untouched to do it's thing.
  • @YBB - thank you sir.
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