Last year we looked at the 20 largest actively managed international and U.S. mutual fund portfolios, and the median number of stock holdings per portfolio was 115, or less than a 1% stake on average in any particular holding.

FORBES

For example, American mutual-fund investors are switching from international equities into domestic bond funds.

ECONOMIST: Profits, for a change

Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital.

FORBES: Intelligent Investing Briefing Book