Insight June 2006 Monthly Update

In the June 2006 issue of Insight, we examine the 10 largest independent mutual fund complexes, following the analytical framework established in our two previous reports focusing on deposit-takers. The large independents featured in our story collectively account for over 50% of industry assets, but continue to face mounting competitive pressures from other mutual fund manufacturers and other investment products. Our research article examines these competitive challenges and looks at how independent companies have already “reinvented” themselves to address them. The increasing competition from other unitized investment vehicles is the subject of our Trend Lines story, which updates our measurement of the fund continuum up to the end of March 2006.