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In a letter, Pimco's Bill Gross slams the fund industry for hefty fees on subpar performance:...

Jul. 29, 2009 1:44 PM ETBy: Jason Aycock, SA News Editor3 Comments
In a letter, Pimco's Bill Gross slams the fund industry for hefty fees on subpar performance: "I've never known any gold-capped tooth money managers, but without squinting very hard there is undoubtedly a strong resemblance between all of us 'managers' and the infamous Madame Rue selling Potion #9."

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Comments (3)

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this is ridiculous. look at the assets in total return over the past ten years. massive growth. fees on the fund though? same or higher, depending on vehicle. the economies clearly aren't being passed through to the fund's investors.
Viajero2007 profile picture
Gross is one to talk. Sounds like he is trying to squeeze his competitors out of business now that he has realized massive economies of scale.
Vieira Trading profile picture
"Since money market funds barely earn 38 basis points these days, much of the return winds up in the hands of investment managers," Gross said. "A mighty expensive potion indeed.", We do agree with Gross comments on this matter, investors should be cautious feeding investment managers, they should learn to do it themselves instead
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