March 25, 2004
I think that anyone selling a fund should have to clearly identify:
1 how that fund has performed in the past including comparisons to peers and benchmark indices,
2 any sales commissions that the agent receives for selling the fund to you,
3 a description of all the fund expenses, including expense ratio, hidden expenses like trading commissions and soft money.
Selling a fund should require the same kind of disclosures as providing a loan.