MUTUAL DECISION: FUNDS MUST GET ONLINE OR BE UNPLUGGED.

Pensions & Investments, June, 1999 by Williamson, Christine

Cannibalize yourself or be eaten. That's the advice from the young Turks of the electronic commerce world to mutual fund companies worried about their traditional sales channels if fund sales over the Internet really take off. Said Richard Owen, vice president of the Dell Online division of Dell Computer Corp.: ``The Internet is a huge threat to the largest, current (mutual fund) leaders with the largest pools of assets.

. . . The Net changes the nature of the game. New entrants will keep the pressure on. You must reinvent yourself to survive.'' And to Meg Whitman, president and chief executive officer of eBay Inc., the Internet represents the biggest change in business and society since the Industrial Revolution, a change that fund companies had better...

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