Costly nuisance
A STAMPEDING bull market is not a time when investors tend to get upset about the fees they pay to money managers. America's burgeoning army of investors in mutual funds has therefore made little fuss about the fact that fund managers are taking increasing sums off the top. When the bears have their day, however, complaints about fee inflation can be expected to grow louder.
This article appeared in the Finance & economics section of the print edition under the headline “Costly nuisance”
From the January 24th 1998 edition
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