Starting in 2005, for instance, the retirement program will cost $500 for those with less than $100,000 at Fidelity (if a customer ups his Fidelity holdings, the fee will be rebated).
The legendary investor Philip Fisher gave us an answer a year ago: The ideal fund would have low turnover in its holdings and low fees, and would select stocks on superior management rather than on price.
Nonetheless, citing the city's responsibility to appraise all its "assets," Mr. Orr enlisted the auction house Christie's to appraise its holdings for a reported fee of $200,000, a process, barely begun, that will take weeks.
An investor could see that his holdings in a fund produced fees for the management company of, say, $300 last year, even as he lost $1,000.
That price included not only a hip joint, made by Warsaw-based Zimmer Holdings, but also all doctors' fees, operating room charges, crutches, medicine, a hospital room for five days, a week in rehab and a round-trip ticket from America.
These programs allow no-load funds from different families to be bought without transaction fees while consolidating holdings in one statement.
AS more investors reached their pain thresholds last year and cashed out their fund holdings, the amounts paid in exit fees to many top funds exceeded the amounts paid in entrance fees on other types of the funds' shares.
They, too, have little interest in seeing any modification because it would harm the value of their holdings and reduce their income from fees.
He also reported $50,000 in consulting fees from Crow Family Holdings, a Dallas real estate concern, and Moore Capital, a leading hedge fund, as well as Enron.
According to the new information provided by Barclays, the FCA has concluded that the bank should have disclosed more details about the fees due to Qatar Holdings, which amounted to £322m over five years.
Today, these funds produce little if any financial return for their fiduciaries while their administrators continue to coast along, sitting on fund assets without making any effort to liquidate and return their holdings — yet still collecting their management fees.
