FYI: One way to get back at a company you think has abused you is to sue. That’s what Robert Kenny did on Dec. 31. Kenny, a shareholder in the Pimco Total Return fund, alleges that Pacific Investment Management Co., the fund's parent, gouges investors with excessive fees to support huge bonuses for its top executives. As assets in the Total Return fund mushroomed in recent years, he says, it should have passed along the economies of scale by lowering fees. (Pimco has said it will “vigorously defend itself” against the suit.)
A better way to get satisfaction, though, may be to get even. The best way to do this is to just stop paying outrageous fees. And with the Pimco Total Return fund, that’s not even hard to do.
Regards,
Ted
http://www.bloomberg.com/news/articles/2015-01-29/how-to-fight-back-against-high-mutual-fund-fees
