An announcement this week that Fidelity is launching retail mutual funds with management expense ratios of zero basis points shows how asset managers are evolving to capture a greater share of a shrinking fee pool.
Tag: investment fees
However, a federal judge certified subclasses on the imprudent investment claims because class representatives were not all invested in the 401(k) funds challenged.
Roughly four in five retirement plan participants said it would be at least somewhat useful to have additional information about investment fees, according to research from The Pew Charitable Trusts.
401(k) participants claim GE retained underperforming proprietary funds in the plan so that its asset management arm could earn significant profits.
A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer enough arguments to support her claims.
The SEC says Envoy Securities received at least $24,893.26 in 12b-1 fees in connection with investments in higher-fee share classes.