Senate Banking Committee Chairman Chistopher Dodd (D-Conn.)’s financial overhaul bill takes issue with performance information in mutual fund advertisements and asks for a review of the practice by the comptroller general.
A recent study by three professors at Wake Forest University and Arizona State University found that despite the standard disclosure that “past performance is no guarantee of future returns,” investors can still be unduly swayed by the performance figures mutual fund companies populate their ads with.
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