According to the most recent flow of funds accounts published by the Federal Reserve, the combined share of household equity managed by mutual funds, pension funds, and life insurance companies grew from only 3% in 1952 to more than 50% at the end of 2001.
Mutual funds held 16% of household equity at the end of 2001, and public and private pension funds held about 10 and 20%, respectively. Life insurance companies held about 7 of household equity at that time, mainly through separate accounts that were, in effect, mutual funds with insurance wrappers.