The Securities and Exchange Commission will consider a handful of proposed changes to the Investment Company Act at its open meeting 10 a.m. tomorrow, most of which are intended to give investors more information about how their funds invest and how much those funds cost.

One proposal would require fund companies to file a complete list of their portfolio holdings once each quarter, whereas funds must now reveal that information twice a year. In addition, the SEC may also allow fund companies to include a summary portfolio schedule in reports to shareholders. The idea is to allow fund companies to provide narrowed-down, key information that investors can use to figure out how their funds are allocating assets and whether those funds are meeting their investment objectives, said Paul Roye, the SEC’s director of investment management, during a press conference this afternoon.

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