Mutual Funds Issues
Our staff and affiliates have been at the forefront of investigations involving mutual funds and have worked on high-profile litigations involving the mutual funds industry. We also work on numerous matters involving ERISA and pension performance-related issues.
In such matters as Jones v. Harris Associates, which was ruled on by the U.S. Supreme Court in March 2010, we have drawn on our experience examining economies-of-scale issues to analyze such issues as the impact of governance structure on competition and shareholders’ sensitivity to fees. Our research has included analysis of performance and fee differences in shares of mutual funds and of fees for individual investors relative to those for institutional investors. We also have used conjoint analysis and other scientific survey methods to understand drivers of consumer choice in dispute over investment fees.
Perspectives on Investment Management Disputes
In the following Q&A with Managing Principal D. Lee Heavner, affiliate John W. Peavy III shares his perspectives developed from 38 years in portfolio management.
Working with major fund complexes and their boards, we have undertaken numerous analyses to identify market timing and quantify its impact. We have, for example, identified shareholders potentially affected due to market timing and late trading, the measurement of such harm, and a plan for making shareholders whole.
Clients have retained us in litigations involving shareholder allegations of mismanagement of variable annuity plans to analyze:
- Appropriateness of variable annuities in a qualified retirement account
- Disclosures and fees
- Total cost to participants
- Appropriateness of class certification
Read about our work involving other insurance products.