| Fund Democracy |
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Purpose and Services
This page was last updated on December 14, 2000. Articles by Fund Democracy: Archives Activists, Advisors Press for Better Mutual Funds Disclosure, NAPFA Advisor (Dec. 2000).
Abstract: If don't have the time to listen the archived tape of Fund Democracy's Toward Truth In Mutual Fund Investing Symposium, take a moment to read this review of the Symposium's highlights. The Symposium boasted a breadth of views rarely seen at industry conferences. The panel included Paul Roye, director of the SEC's investment management division; Don Phillips, CEO of Morningstar, Inc.; Harold Evensky, chairman of the Evensky Group; Davis Nadig, executive VP and co-founder of MetaMarkets.com (sponsor of the Open Fund); and David Musto, associate professor of finance, Wharton School. In an often heated discussion, the non-SEC panelists made a strong case for more frequent, and more accessible portfolio disclosure, while the SEC's Roye did an admirable job articulating the Commission's position. Investors should take heart in the way that Roye's comments at the Symposium -- while carefully circumscribed -- implied general support among SEC staff for portfolio disclosure reform. |