May 5, 2016
I fully support the recommendations of the Investor Advisory Council on Mutual Fund Cost information.
I am a sophisticated investor (by the terms of the financial industry) and I have the time to read through prospectuses which most who are gainfully employed do not have.
I should be able to make informed decisions with the time and knowledge I have but I still cannot fully understand how much I am paying for the management of my money. There are industry practices such as the reduction or remission of expenses between fund managers and fund sponsors or the absolutely unnecessary 12b1 "distribution" expense that are just "shipping and handling" fees that are generally a cost of business to the company and are most often not charged back to the consumer.
Investors rely on mutual funds to add value to the money we entrust to them. Unfortunately, the information provided does not allow us to measure accurately what that value really is.
Thank you for taking the side of the consumer in this matter.