Go to the Investment Company Institute website and look up the most recent data on the asset values and number of short-term and long-term mutual funds using the following steps. The website is www.ici.org. Click on “Research,”

“Investor Research,” and “Investment Company Fact Book.” Then go to the Fact Book Website for the most recent year. Go to “Data Tables.” This section contains the relevant data. The data on asset values and number of mutual funds is among the first few pages. How have these values increased since those for 2020 reported in Table 5–1?

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TABLE 5-1 Growth of Mutual Fund Industry, 1940-2020 Source: Investment Company Institute, 2021 Investment Company Fact book, www.ici.org Year Number of Funds Total Net Assets ($ billions) Gross Sales ($ billions) Redemptions ($ billions) 1940 68 $0.45 1950 98 2.53 $0.52 $0.28 1960 161 17.03 2.10 0.84 1970 361 47.62 4.63 2.99 1980 564 134.76 247.42 216.08 1990 3,079 1,065.19 1,564.81 1,470.83 1995 5,725 2,811.29 3,600.62 3,314.86 2000 8,154 6,964.31 11,109.49 10,586.56 2005 7,976 8,891.01 13,939.17 13,546.69 2006 8,122 10,397.75 17,409.22 16,751.91 2007 8,040 11,999.71 23,470.56 22,352.14 2008 8,039 9,620.27 26,349.16 25,714.04 2009 7,663 11.111.16 20,679.76 20,676.51 2010 7,555 11,833.09 18,209.46 18,319.50 2015 8,121 15,657.87 20,939.31 20,811.36 2020 7,636 23,895.84 33,142.38 32,677.30