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Fund Companies flunk Net Promoter Score test

In the current economic climate, it seems fund performance is no longer the main driver of mutual fund company loyalty. Cogent Research's newly released Investor Brandscape 2009 details the Net Promoter® Scores (NPS) for 38 leading mutual fund companies. Supporting Cogent's earlier analysis, firms that receive the highest ratings from investors on perceived financial stability and product offerings also have the highest NPS. The overall average NPS for all mutual fund companies included in the study is -29, which means that, on average, mutual fund companies have more detractors than promoters. An 84-point spread exists among firms, ranging from Vanguard, which receives the highest positive score of +21, to Calamos which receives the lowest negative score of -63. The only mutual fund companies surveyed to achieve positive NPS scores were Vanguard, Fidelity Advisor Funds, and Fidelity Investments."It's rather stunning to see that nine out of ten fund companies have more customers at risk of defecting than remaining loyal. In times like these, where positive investment performance is difficult, firms must provide or promote other offerings that address the existing mood of the market - thus, smaller or boutique firms with limited options will have a tough time maintaining loyalty due to lack of product or service breadth," said Antonio Ferreira, Managing Director of Cogent's Wealth Management Group.Source: BNET

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