rkets. The increasing globalization of business activities by American companies has increased the requirements of these firms and their overseas employees for the availability of a wide variety of financial services in an equally wide variety of geographical locations around the world. These demands have created new opportunities for American mutual funds. Technology is facilitating the globalization of financial services, while investment banking is providing the principal venue for these changes.
An increasing number of investors from all countries are focusing on global markets. As investment horizons broaden, the assessment of financial markets must be transformed from a national to an international perspective. Mutual funds are a part of this trend.
The financial regulatory system in effect in the United States prior to 1980 was largely the result of responses by the federal government to the financial crises of the late 1920s and early 1
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