Boston May Lose PositionAs Nation's Fund Hub
May 3, 2004
The percentage of money put into Boston fund firms plummeted from 42% of the total market in 1994 to only 8% in 2003, thanks to the scandal and its effects on Putnam and MFS, but also to the growth of huge fund firms elsewhere, according to Financial Research Corp. However, Boston still possesses more than 20% of overall mutual fund assets, primarily thanks to the presence of Fidelity.
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