Fees Unveiled

As early as this summer, mutual-fund investors will see changes in shareholder reports. New rules from the Securities and Exchange Commission, which aim to make funds more accountable, require that fees, historically stated as a percentage of assets, appear as dollars for every $1,000 invested. The idea is to help investors comparison shop, but critics say the measures don't go far enough since a hypothetical $1,000 is not the actual amount invested. The SEC will also require funds to disclose their holdings four times a year instead of twice.