Should Congress Overturn Gartenberg?
From Wall Street Journal
Iercer Bullard continues to attack what he claims are excessive fund fees. In this case he goes after the Gartenberg legal standard for determining which fees are excessive. In the article he also explains the case for whether Congress will look at overturning Gartenberg. He concludes" Whether President Bush and company appreciate the need for a meaningful legal standard for fund fees, however, they should recognize that Republicans' chances in 2002 and Bush's in 2004 may depend on ensuring that the growing class of American investors are getting a square deal."

UK Fund Supermarket Competition Grows
From Wall Street Journal
The fund supermarket market is still up for grabs in the United Kingdom, reports the paper. It predicts that a dozen players could enter the space to compete with Egg.com and Fidelity this year. Another, Cofunds, a venture of Gartmore Investment Management, Jupiter Asset Management, Threadneedle Asset Management and M&G Asset Management, is set to launch later this year. Egg launched in March and Fidelity in June of 2000. Others eyeing the space are: Charles Schwab, Merrill Lynch, HSBC Holdings and Norwich Union. Cerulli Associates is cited in the article as pegging the opportunity at as much "as 35 percent to 40 percent of net new inflow in the British mutual-fund industry in three to five years."

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