January 18, 1995
TO: BOARD OF GOVERNORS No. 12-95
BROKER/DEALER ASSOCIATE MEMBERS No. 2-95
DIRECT MARKETING COMMITTEE No. 5-95
INDUSTRY STATISTICS COMMITTEE No. 3-95
MARKETING POLICY COMMITTEE No. 6-95
MEMBERS - ONE PER COMPLEX No. 7-95
PUBLIC INFORMATION COMMITTEE No. 4-95
RESEARCH COMMITTEE No. 4-95
SALES FORCE MARKETING COMMITTEE No. 5-95
SHAREHOLDER COMMUNICATIONS COMMITTEE No. 5-95
SMALL FUNDS COMMITTEE No. 3-95
RE: Profiles of First-time Mutual Fund Buyers
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Enclosed is a copy of Profiles of First-time Mutual Fund Buyers. Based on telephone interviews
with shareholders who purchased their initial mutual fund between January 1992 and April
1994, this report provides a detailed profile of first-time fund buyers. The study compared first-
time buyers with shareholders who purchased their first fund before January 1992. The report
also examines first-time buyers according to the distribution channel used to purchase their
first fund, the type of fund initially purchased, age, income, and gender.
Profiles of First-time Mutual Fund Buyers will be a valuable resource to fund management across
the industry because it identifies in one place the key demographic and financial characteristics
of this very important segment of shareholders. The report will serve as both an informational
and education tool for the industry. Extra copies of this report will be available to members for
$10.00 each.
For comments or questions about this report, please contact Vicky Leonard-Chambers at
(202) 326-5918.
Sandra J. West
Director, Marketing Research