WALL STREET BROKERS’ FUNDS WERE A TOUGH SELL IN 1997: INDUSTRY’S NET FLOWS ROSE, BUT WIREHOUSES’ SUNK 80%
Big Wall Street brokerages were the wallflowers at 1997's mutual fund industry ball. While U.S. stock and bond…
Big Wall Street brokerages were the wallflowers at 1997's mutual fund industry ball. While U.S. stock and bond mutual funds as a whole enjoyed a 17.5% gain in net cash flows from 1996, in-house fund families of brokerages like Merrill Lynch & Co. and Salomon Smith Barney Holdings Inc. saw net cash f
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