In a scandal that has turned many in the mutual fund industry into seekers of transparency, some firms are now saying that duct tape, and not scotch tape, should be used to cover up the figures representing portfolio managers salaries. In short, they think that there should still be some limit to disclosure, Reuters reports.
Vanguard, the nations No. 1 fund firm, is one of those companies. "There is no advantage whatsoever to disclosing the compensation of portfolio managers," said Vanguard spokesman Brian Mattes.