Fundsters interested in issues of mutual fund governance may want to check out yesterday's "Fund Spy" column on Morningstar
. Eric Jacobson attacks Pimco
's [see profile
] mutual fund boards on three fronts: for not having enough independent directors or independent chairmen, for making it too difficult for shareholders to nominate new directors, and for not doing more to negotiate fees.
"The P in Pimco does not stand for 'perfect,'" MStar writes. "One flaw is the firm's structure of mutual fund pricing, disclosure and governance."
MStar added praise of Pimco's recent move to take over its retail distribution from parent Allianz
, which could mean price cuts.
Neil Anderson, Managing Editor
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