Woe to any money management firm that tries to sell a new brand of mutual funds. Competi-tion in the crowded U.S. marketplace was tough enough before the stock market tanked during the summer of 2007 and customers started pulling their money out. Now, as the mutual fund market contracts, new entrants are getting squeezed out even before they gain a foothold. "We have not seen this difficulty since the 1980s, when we were coming out of the bear market of the 1970s," says Geoff Bobroff, president of Bobroff Consulting in East Greenwich, Rhode Island.
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