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Friday, October 30, 2009

Fundsters' Eyes Turn to the Supreme Court

News summary by MFWire's editors

Will the Supreme Court interfere with asset managers' pricing models that differentiate individual investors' mutual fund shares from institutional shares and institutional separate accounts? On Monday, November 2, the court will hear oral arguments in Jones v. Harris Associates (Chicago-based Harris advises the Oakmark funds). For fundsters and non-fundsters interested in a refresher on the case, both the Wall Street Journal's Jess Bravin and Jane J. Kim and USA Today's John Waggoner take a long look in their articles published Friday.

Harris' defenders in the case have included: SEC commissioner Troy Paredes, the ICI and the Mutual Fund Directors Forum. The SEC itself and renowned federal judge Richard Posner are among those who have weighed in against Harris. 

Edited by: Neil Anderson, Managing Editor


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