Posted on 22/11/03
Spitzer targets mutual fund fees
NEW YORK -- New York State Attorney-General Eliot Spitzer is promising to force mutual fund companies to reduce their management fees, which, he said, are "grossly out of control.''Mr. Spitzer -- who has led the crackdown on improper trading practices by mutual funds -- said the huge rise in fees over the past several years has cost investors far more than the trading abuses he and other regulators have exposed.
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