The Boston Globe's
Ross Kerber devoted an article Thursday to how fund firms are getting their message out to clients amid the market turbulence. Fidelity
, for example, ran full-page newspaper ads that read "Volatility is to be expected," while Putnam Investments
distributed a "Bear Market Relief Kit" to advisers containing charts that show how stocks have bounced back from previous lows. Other firms mentioned in the article include Vanguard, Schwab and MFS Investment Management.
Numbers from AMG Data Services show that mutual fund outflows totaled $14.9 billion in the first three weeks of September. About $4.5 trillion remain in equity funds.
Samantha C. Wreaks
, publisher of The Journal of Financial Advertising and Marketing, noted the difference between fund firm's marketing efforts now and during the last financial downturn in 2001 to 2002. During that downturn, fund firms scaled back on spending.
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