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Chapter 16. Reforms to Protect Small Inv... > Improving Disclosure and Governance ...

Improving Disclosure and Governance at Mutual Funds

Mutual funds have grown enormously in recent years, and have become a major investment vehicle for small investors. In fact, the retail investor buying individual stocks is a less and less important factor in the market. Instead, small investors put their money in mutual funds, and because of professional management and greater diversification, that's where it ought to go.

But there are both disclosure and governance issues. The boilerplate of mutual funds is virtually useless to investors, and many funds tend to drift away from whatever principles are stated in their prospectuses.


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