Posted on 23/06/04
Even in a bear market, some fund managers saw a bonanza
What they don't tell you about compensationPoor mutual fund returns have disappointed lots of investors - but their pain hasn't been felt by all fund managers. After all, pay for some has continued to climb. The reason: fund manager compensation is tied not to fund performance but to the continually rising value of assets under administration, fed by ever-growing ranks of aging baby boomers.
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