Fund Assets Sold On The Internet Are Set For A Fivefold Increase, Study Says

SPECIAL REPORT

NEW YORK--Mutual funds sold via the Internet are set for a period of explosive growth, according to a report published last week by Goldman Sachs. By 2002, mutual fund assets in on-line accounts will have reached an industry-wide total of $241 billion, compared to $47 billion in 1998.

The growing reliance on the Internet is in some ways only the technological side to fundamental changes in the asset management business that will drag down fund performance, drive industry consolidation and for