Investors Are Not Concerned About Y2K, Study Says
October 4, 1999
T. Rowe Price Associates of Baltimore, Md. announced that a survey of its mutual fund shareholders found that they are not overly anxious about potential Y2K problems and few will change their investment habits when the new year arrives.
The phone survey of 403 T. Rowe Price investors was conducted in June and July to measure their level of concern about Y2K, the company said.
The shareholders were confident that financial institutions will be prepared for Y2K. On a scale of one for "not at all confident" to five for "highly confident," shareholders gave the mutual fund industry a 4.24; the banking industry, 4.10; and brokerage firms, 4.06.
Nine percent of the respondents expected to change their investment behavior because of Y2K. Of that group, 44 percent said their most likely change would be to stop making fund transactions around the turn of the century, the company said.
Only five people said they would withdraw money from their funds and only one person intended to call the mutual fund company to make sure that his money was still there.