MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, July 17, 2009 E-mails May Cause Difficulties for Harris in Fee Case, Says WSJ In Friday's Wall Street Journal Fund Track column, Sam Mamudi reports that attorneys representing plaintiffs in the excessive fund fee case against Harris Associates Those messages, lawyers said, show Harris staff expressing concern about explaining the fee gap between mutual funds and institutional accounts. In a court filing last month, plaintiffs' lawyers said that Harris' marketing head Michael Neary "suggested that if the [Oakmark funds] are compared to accounts with a 'similar strategy,' then Harris' defense regarding the fee discrepancy 'is weak but not zero.'" Responding to the filing, Harris' attorneys said they disagree with the plaintiffs' sweeping conclusion" that statements in e-mails suggest that "Harris investment professionals and marketing personnel expressed concern over explaining the fee gap between the funds and similarly managed institutional accounts." Printed from: MFWire.com/story.asp?s=22090 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |