George T. McDonald, who is the founder and president of the Doe Fund, switched parties and jumped into the race a few weeks ago, meaning Mr. Allon would most likely face a primary to win the Republican nomination.
The S.E.C. contended that from March 1994 through November 1996, a broker in Dean Witter's Atlanta office improperly made at least 48 mutual fund switches in seven customer accounts, costing the customers around $157,000 in unnecessary sales charges.
Late last year the Guinness Flight China & Hong Kong fund switched from defensive holdings, like Hong Kong Electric, to interest-rate-sensitive finance stocks.
The growth comes from millions of adults who picked majors that didn't deliver a good career, a recognition that they weren't qualified for the job they wanted, and that employers won't fund switching careers.
But it is probably not enough to make investors in rival funds switch.
This funding switch has already left Britain lagging in the global R&D race, and may yet put America at risk, too.Private firms have plenty of incentive to shell out, of course.
If you are invested in actively managed funds, switch to index or passively managed funds that have low management fees and are tax efficient.
Some pension funds switched to bonds; others demanded products that delivered positive returns, regardless of the performance of the equity index.
The cheapest tracker charges just 12bp; if clients in closet funds switched to that tracker, they would save £756m in fees a year.
