RT Journal Article
SR Electronic
T1 The “Many Faces” of Mutual Fund Revenue Sharing
JF The Journal of Index Investing
FD Institutional Investor Journals
SP 59
OP 72
DO 10.3905/jii.2014.5.3.059
VO 5
IS 3
A1 John A. Haslem
YR 2014
UL https://pm-research.com/content/5/3/59.abstract
AB The objective of this study is to take some of the mystery out of mutual fund revenue sharing, but without saying that investors have transparent disclosure. Topics begin with the transition from directed brokerage to revenue sharing. The discussions that follow include directed brokerage and revenue sharing, replacing 12b-1 fees, defensive 12b-1 fees, distribution with a difference, revenue sharing nuances, types of revenue sharing, revenue sharing summary, disclosure issues, revenue sharing and 401(k) plans, pension plan subtransfer agency fees, Schwab revenue sharing, SEC versus Edward D. Jones, and Morgan Stanley distribution fees. It appears that most in the world of regulation and practice of revenue sharing lack clarity, consistency, proper redress, and investor transparency, such as the so-called direct distribution of revenue sharing payments from mutual fund adviser profits.TOPICS: Mutual fund performance, exchanges/markets/clearinghouses