Fund supermarkets in the US 2007: Industry Research Report

Fund supermarkets in the US 2007

Published Date: October 2007

Published By: Datamonitor

Page Count: 46

Order Code: R313-26609

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Overview: Catalyst; Summary; Executive Summary; Mutual funds were the largest segment of the US retail savings and investment market in 2006, representing 39% of the total; fund supermarkets account for a growing proportion of mutual fund sales; The market size for US mutual funds has remained steady at around one third of the US retail savings and investments market since 2002; The US dominates the global market for mutual funds; Stock funds dominated the US mutual fund market in 2006; The average US fund supermarket customer is middle-aged with an above-average income; Mutual funds are among the most strictly regulated financial products in the US; Fidelity is the leading US fund supermarket; TD Ameritrade supplies funds solely from external suppliers; TD Ameritrade also offers a certain level of portfolio• guidance; Charles Schwab is one of the largest fund providers in the US; FolioFn is a smaller service than its competitors; Fees and charges have been driven down by competition; Table of Contents; Table of tables; Distribution Dynamics; The market size for US mutual funds has remained steady at around one third of the US retail savings and investment market since 2002; Mutual funds were the largest segment of the US retail savings and investment market in 2006, accounting for 39% of the total; Retail mutual funds accounted for almost 90% of the US mutual fund market in 2006; Equity funds dominate the US retail mutual fund market; The US dominates the global market for mutual funds; Investor demand is increasing; Multiple distribution channels have increased competition; Fund supermarkets have seen significant growth; Fund supermarkets have a number of distinct advantages; Stock funds dominated the US mutual fund market share in 2006; Retirement plans are the fastest-growing mutual fund purchase source in the US; Hybrid mutual fund sales fell between 2005 and 2006, but all other classes saw a rise in new sales; The average US fund supermarket customer is middle-aged with an above-average income; 84% of US households have an income below USD100, 000; Around a third of households with an income of USD100, 000 or more own mutual funds; The number of US households owning mutual funds has remained stable over the past 6 years; The number of US individuals holding mutual funds has increased by 5 million since 2000; The number of fund-owning households with internet access has grown by around 42% since 2000; Almost 80% of fund-owning households with internet access used the internet for a financial purpose in 2006; Distribution Forecasts; Retail mutual funds will continue to account for around 40% of the total US retail savings and investments market for the next 5 years; Regulatory climate; Mutual funds are one of the most strictly regulated products in the US; The Mutual Fund Transparency Act of 2005 aimed to increase disclosure; There have recently been calls for further mutual fund disclosure; The US is cracking down on online systems failures; Distributor Profiles; Fidelity is the leading US fund supermarket; Fidelity offers one of the widest ranges of funds; Fidelity's charging structure for non-Fidelity funds is higher than some other discount brokerage sites; Fidelity offers a wide range of core services; In addition, Fidelity offers flagship Asset Management services; Fidelity is a successful private business; The Fidelity website offers high functionality; Fidelity has a separate website for advisors; TD Ameritrade supplies funds solely from external suppliers; TD Ameritrade offers some of the highest quantities of funds; TD Ameritrade offers a competitive fee structure; TD Ameritrade offers a range of basic trading services; The site offers a multitude of additional services; TD Ameritrade also offers a certain level of portfolio guidance; TD Ameritrade is owned by Ameritrade Holding Corporation; TD Ameritrade is directed at the mass market; TD Ameritrade offers fewer options of account structures than some of its competitors; Opening an account is extremely simple; Charles Schwab is one of the largest fund providers in the US; Charles Schwab offers some of the highest quantities of funds through its online brokerage; Schwab does not charge fees on its own funds; Schwab offers a wide range of core services; Charles Schwab offers a number of additional services including a detailed portfolio service; Schwab Portfolios are designed for diversification; Schwab MarketTrack Portfolios are designed to match investor tolerance for risk; Charles Schwab provides a full range of financial services; Schwab.com is extremely user-friendly; Schwab offers a specialist service for advisors; Opening an account with Schwab is easy; FolioFn is a smaller service than its competitors; FolioFn offers far fewer funds than the larger brokers; FolioFn offers extremely competitive pricing; FolioFn offers a number of core brokerage services; FolioFn offers a particular type of service based around its proprietary Folio products.; FolioFn operates as an independent company; FolioFn's internet functionality is limited by its size; FolioFn has developed a new tool for intermediaries; FolioFn is one of the easiest accounts to open online; Fees and charges have been driven down by competition; Fund supermarkets reduce the burden of fees on mutual fund companies
APPENDIX: Definitions; Brokerage Firms; Fund Supermarkets; Mutual Funds; Online Broker Ratings/Rankings; Prospectus; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Tables: Table 1: Overview of the retail savings and investments market in the US 2001-2006; Table 2: Total mutual funds under management segmented by investor; Table 3: Retail mutual funds under management segmented by type of fund; Table 4: Principal features of mutual fund distribution channels in the US; Table 5: Total Net Assets of Mutual Funds in the US, December 2005-2006; Table 6: Share of Mutual Fund Assets by distribution channel in percentages, 2002; Table 7: Net New Cash Flow of Long-Term Funds in the US, December 2005-2006; Table 8: Income ranges in the US per household, 2006; Table 9: Percentage distribution of households owning mutual funds and all U.S. households, by income, 2006; Table 10: Number and Percent of US Households owning mutual funds, 2000-2006; Table 11: Individual US Investors owning mutual funds; Table 12: Number and percent of fund-owning households with Internet access; Table 13: Percent of fund-owning and non-fund-owning households with Internet access, by online activities in past 12 months, 2006; Table 14: US retail savings and investment balances forecasted 2007-2011, segmented by broad product line; Table 15: Some Leading US Fund Supermarkets at a Glance; Table 16: Fidelity short-term trading fees; Table 17: Fidelity Target Asset Mix by portfolio allocation; Table 18: Fidelity Target Asset mix by historic returns; Table 19: Range of available Fidelity.com accounts; Table 20: TD Ameritrade fee structure; Table 21: Amerivest portfolio guidance; Table 22: Funds offered by Charles Schwab, by segment; Table 23: Charles Schwab fee structure; Table 24: Schwab account minimum balance requirements; Table 25: Schwab portfolios; Table 26: Schwab portfolios by stock allocation; Table 27: Schwab portfolios by historic return; Table 28: Schwab MarketTrack portfolios by stock allocation; Table 29: FolioFn Pricing Structures; Table 30: FolioFn Service fee structure; Table 31: FolioFn product range

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