A recent study has found that 368 of the 497 largest equity mutual funds lowered their operating expense ratios as their assets grew.

The study, conducted by the Investment Company Institute of Washington, D.C., examines the relationship between fund asset size and operating expense ratios. The funds that reported a decrease in their operating expense ratios account for 71 percent of all equity fund assets, the study reveals. The study results were released Dec. 21.

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