As the old Yorkshire saying goes, “Where there’s muck there’s brass.” What could be murkier than the municipal bonds that underlie muni bond mutual funds? I count 666 muni/tax-free mutual…
It isn’t news that in the past decade, investors have been moving their assets from higher fee fund products to lower fee products. Since early 2019 a new trend may…
MaxDatabook has extended its data warehouse to include securities lending. Some preliminary findings. According to SEC filings, the average assets lent by mutual funds in 2019 was roughly $220 billion.…
What has been the net effect of the volatile markets on fund manager income statements? Because funds charge their fees daily, yesterday’s market prices only tell 1/20th of the story.…