While not exactly a national victory for the mutual fund industry, a recent court ruling regarding "excessive fees" could set a strong precedent for further disputes.

In the case Jerry N. Jones v. Harris Associates L.P., the U.S. Court of Appeals, Seventh Circuit affirmed a lower court's decision to dismiss claims that the Oakmark Funds, managed by Harris Associates, breached their fiduciary duties by charging retail investors excessive fees.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.