In the high net worth crowd, Dodge & Cox
is a king among mutual fund firms. The 2007 Luxury Brand Status Index
found that Dodge is the most popular fund firm among high earners ($300k plus) and penta-millionaires (net worth of $5 million plus). Milton Pedraza
, CEO of the Luxury Institute
, chalks it up to the smarts of high earners. "Most investors became wealthy through achievement and smart financial management. They are highly informed and meticulously selective about which firms they entrust with their money," he said.
High net-worth consumers rated Dodge & Cox the most prestigious mutual fund family in the 2007 Luxury Brand Status Index (LBSI) survey from the independent New York-based Luxury Institute (www.LuxuryInstitute.com).
Dodge & Cox was ranked highly for delivering consistently superior quality investment products and as a mutual fund family that is invested in by people who are admired and respected. Dodge & Cox is particularly popular with high earners ($300k plus) and penta-millionaires (net worth of $5 million plus). One enthusiastic fan of this firm's funds says, "FABULOUS! Excellent investment strategy and wonderful returns over good and bad years."
"Most investors became wealthy through achievement and smart financial management," said Milton Pedraza, CEO of the Luxury Institute. "They are highly informed and meticulously selective about which firms they entrust with their money. It is amazing how well informed they are about scandal, conflict of interest and lack of transparency, and they rate brands accordingly. In these times of market volatility, high net-worth investors look for trustworthy performers who help mitigate the downturns and make them prosper in the long term." Pedraza added, "The Luxury Institute's impartial 'voice of the high net-worth consumer' surveys are a most important endorsement for financial firms."
Following are the 23 mutual fund families that were rated (alphabetically):
1. AIM Distributors
3. American Century
4. American Funds
8. Dodge & Cox
11. Franklin Templeton
13. JP Morgan
14. Lord Abbett
20. State Street
21. T. Rowe Price
22. Van Kampen
The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 1500 wealthy American consumers, with an average income of $329K and average net worth of $3.4 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.
About the Luxury Institute
The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.luxuryboard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.
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