OXFORD, Miss. – The mutual fund fee bill is in the mail. And it should include the hidden costs of mutual funds, which are so significant that in some cases they are several times greater than the fund’s stated expense ratio.

That was the consensus from the majority of panelists on The Mutual Fund Summit here Saturday, where 11 lawmakers, regulators and industry leaders, including ICI Chairman Paul Haaga, gathered, just a day after the Zero Alpha Group released a report showing that brokerage commissions average 27 basis points.

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