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Wednesday, April 26, 2006

Fund Firms Spending More On Advertising

by: Armie Margaret Lee

Mutual fund firms have been shelling out more money to promote their offerings. In 2005, fund companies spent nearly $300 million on advertising, the highest since 2001, The Wall Street Journal reported Wednesday.

T. Rowe Price Group Inc. led the pack with $74.7 million, up 41 percent from 2004, according to figures from Nielsen Monitor-Plus. Fidelity Investments placed second, with $48.9 million, followed by Franklin Templeton Investments, which spent about $25 million.

Due to the improvement in the stock market, fund firms are increasingly coming out with ads that highlight fund performance. A growing number of ads are also now geared towards financial advisers instead of individual investors.

Some of the fastest-growing fund companies, however, spent little or none at all, on marketing. These include Barclays Global Investors, Dodge & Cox Funds and American Funds.  

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