Equity fund investors have paid 11% more in fees, all the while their investments have fallen during the bear market, according to a report by the General Accounting Office expected to be released at today’s Congressional hearing on the fund industry.

The 46 largest stock funds charged an average 70 basis-point fee in 2001, up from 63 basis points in 1999, according to the report that the GAO released early to leading publications, including USA Today and The Wall Street Journal.

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