A little fund confusion
struck Bloomberg's news room Friday morning. The editors of an article reported by Jody Shenn and Yalman Onaran on the bailout of the failed Bear Stearns
hedge fund first ran the headline "Bear Stearns Plans $3.2 Billion Mutual Fund Bailout.
" Of course, the bailout was for a hedge fund
, a distinction that the editors caught in an update.
* * *
Did your fund's NAV make it into the paper Tuesday?
The Washington Post admitted
in its Thursday edition that there were "Missing Funds" after it "unintentionally dropped" some listings from its stock page "because of problems the Associated Press had in delivering the data." There was no word of other papers experiencing similar problems.
* * *
The new SEC disclosure requirements
of mutual funds of fund's fees has at least one mutual fund advisor upset, reported the Wall Street Journal
"If this rule had been in effect five years ago, I probably never would have put this fund together," Curtis Teberg, founder of the Teberg Fund told the paper. He added that the added disclosure is "too complicated, too much extra expense" and that "from a marketing perspective it's going to be a real uphill battle."
The $40 billion fund is seeing its reported expenses rise 75 basis points because of the rule.
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