SAN FRANCISCO (CBS.MW) -- Almost no one in America would admit to being overpaid, but many of us take home bloated paychecks far beyond what we deserve. http://www.marketwatch.com/news/sto...953-43F3-BBC8-63D351A3BF2A}&dist=MostReadHome
Most of the large funds are closet index funds, the managers add little if any value. Look at the top 10 holdings of almost any large cap fund- XOM, MRK, T, IBM, WMT, C, etc. Their job, however, is to collect assets, not have blowout performance numbers. They get paid on assets, not for performance.
No, it's the brokers' or mutual fund salesmen's job. Fund managers have nothing to do with collecting assets.
Great link. This is a free market, capitalistic system and you can only get paid what the market will bear ... JJ