The new legal expense trust fund was established in February 1998.
The SEC also wanted to see the meeting agenda in order to confirm the charge "really was the expense the fund was claiming, " Ms. Simon said.
They often include extra loads, wrap fees, 12b-1 fees, and often consist of high expense actively-managed mutual funds or even annuities versus lower expense equivalent fund options.
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And hot stock tips produce more pageviews than earnest lectures about mutual fund expense ratios.
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This all-in cost includes mutual fund expense ratios, trading costs and adviser fee.
Investors in index funds expect to get exactly the performance of the index (less any expense of the fund).
Also, trading costs are greatly increased by this large turnover and trading costs are not included in fund expense ratios.
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But Schwab extracts undisclosed fees from the fund vendors for acting as middleman, and these fees necessarily put upward pressure on fund expense ratios.
Note that brokerage commissions are reflected in the cost basis of the purchased securities or as a reduction of the proceeds from the sale of securities and not as an expense of the fund.
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Lasser's dismissal followed charges by the U.S. Securities and Exchange Commission of securities fraud at Putnam, which allegedly failed to reveal trades employees conducted for personal profit and at the expense of mutual fund shareholders.
In simplified terms, if a fund holds stocks yielding an average of 3% and the fund has a 1% expense ratio, the yield to fund investors will be around 2%.
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How can this be, that the expense ratios disclosed to fund customers omit commissions?
The costs of these transactions can be high, so do look carefully at the expense ratios of the fund along with all its fees.
The average exchange traded fund (ETF) does have a lower expense ratio than the average traditional mutual fund, but not less than most low-cost index funds that have been available for decades.
If investors could see how regularly fund managers profit at their expense, they would run, not walk, from many mutual fund companies.
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The BlackRock Latin America Fund is a large blended fund with an expense ratio of 1.5%.
Equity Income Fund has an expense ratio of 0.71% and an R-squared of 89%.
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The BlackRock fund has an expense ratio of 1% and an upfront load of up to 4%.
The fund's expense ratio of 0.5% and its turnover ratio of 25% are substantially below peer-group averages.
Given its high expense ratio, the mutual fund may be no great bargain.
Using Morningstar data, Sharpe found the average actively-managed U.S. stock fund had an expense ratio of 1.12 percent during 2012.
All returns cited are based on gross performance before advisory and transaction fees but net of fund or ETF expense ratios.
The fund's expense ratio is nine basis points, which bears looking into.
The Guggenheim Shipping ETF ( SEA) holds 31 different shipping companies, with the highest weighting just 4.9% of the total fund and an expense ratio well below 1%.
Our fund survey highlights expense ratios and tax efficiency.
The first three types of fees are shown, as an aggregate total, in each mutual fund's expense ratio, and are generally reported in your 401(k)'s "summary documents" as a percentage of assets.
To give you an example, here is a snippet from an email exchange that I recently had with an ETF provider concerning the high expense ratio of a new fund and how they were marketing the product.
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