Netfolio targets funds
From Smart Money
Foliofn has competition. This Fall Netfolio is set to debut, according to the magazine. The startup is putting fund companies squarely in its sites -- just check out its tagline: "Goodbye Mutual Funds, Hello Netfolio." Both sites let investors invest in baskets of stocks that have the diversification of a fund without the downsides. Also expected to enter this area late this year or early next is E*Trade.

A new fund for Salomon only
From TheStreet.com
Salomon's Consulting Group unit has filed preliminary paperwork with the SEC for a new Global Sciences and Technology Investments fund. The twist on this fund is that only investors with a Salomon Smith Barney account or adviser participating in one of the firm's wrap programs will be able to buy shares in the fund. The minimum purchase will be $10,000. The fund's subadvisors were not named in the filing.

Will full disclosure crash the market?
From CBS.MarketWatch
Are fund companies hiding how much profit they make on their funds. That is the accusation made in this article. The author points out that that Fidelity would earn roughly $6 billion a year in fees if it charges the average management fee of one percent. The author says that "We need full disclosure. As it is now, investors can't see their fees or what the funds do with all that excess cash." He also wants full disclosure of fund holdings, although he admits that this would cause four problems: managers' disincentive since their picks will be "out there", the failure of indexing as active managers throw in the towel, accelerated hyper-volatility of stock prices, and the destruction of American capitalism. 

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