FYI: Fidelity Investments' $105 billion Contrafund is having a bad three-year run, but you would never know it by looking at its fees.
The mutual fund's management fees have increased 25 percent to $614 million over the past three years despite investors pulling several billion dollars as its performance lagged the benchmark S&P 500 Index.
The escalation in fees at Contrafund is replicated in other large actively-managed funds run by Dodge & Cox, DoubleLine, TCW Group and T. Rowe Price, and belies a growing narrative in the U.S. mutual fund industry that such firms are under siege as investors redirect tens of billions of dollars each month into cheaper passive investments.
Regards,
Ted
http://www.reuters.com/article/usa-funds-fidelity-idUSL1N1DV1ME
