Financial Times FT.com

Case begins on fees to mutual funds

By Nicole Bullock in New York

Published: November 1 2009 21:31 | Last updated: November 1 2009 21:31

The US Supreme Court will hear arguments on Monday in a landmark case on fees for the $10,000bn mutual fund industry.

At issue is the legal standard for when management fees are excessive and what constitutes a breach of fiduciary duty for the fund’s adviser. A ruling is expected in the next few months.

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