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BUT as Mr. Klawans has demonstrated, it is possible to operate a mutual fund on a far tighter budget and to be paid for one's trouble.
In Massachusetts, Ms. Sharma said the treasurer had begun questioning Putnam's conduct in July, putting the mutual fund on its "watch list" of closely monitored investment managers.
But for the investors, a large, unwieldy mutual fund, on average, underperforms an index fund while charging higher management fees.
Each mutual fund on our list is adept at navigating bull and bear markets over the long term and has relatively low fees.
In a few months he'll be advising a Canadian mutual fund on investments in companies that are successfully seizing the e-commerce initiative.
For anyone who likes McDuff's perspective, and track record, the bad news is that you can't hitch a ride directly on RMG ValueCatalyst because it's a mutual fund on paper only.
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Schroders, for example, gets low overall ratings from the Heart Rating, one tool for investors that scores mutual funds on social criteria.
A recent Fidelity ad in Forbes magazine suggests that you "put your portfolio of mutual funds on autopilot".
But the high mortality rates for hedge funds, which tend to die at roughly twice the rate of mutual funds on average, make the issue particularly acute.
This was to avoid conflicts of interest where the administrator would put its own mutual funds on the menu and push them on participants.
A recent study by the Corporate Library, a research firm, reviews the proxy-voting trends of 26 large American mutual funds on pay-related matters.
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