Y2K Fears May Cause Some Investors to Redeem
June 28, 1999
Concerns about computer programming problems associated with the switch to the year 2000, the so-called Y2K problem, is prompting some shareholders to consider redeeming fund shares. A survey sponsored by DeRemer + Associates of Wrentham, Mass. and Prince & Associates of Shelton, Conn., found that about 14 percent of approximately 1,000 mutual fund shareholders surveyed would consider selling fund shares by the end of the year because of concerns about possible disruptions at the turn of the century.