Here comes the tax drag. Thanks to a 2010 rule change, many mutual funds this year and next will lose their ability to continue to offset taxes with accrued capital losses from the financial crisis, hitting after-tax returns.
Art Lipson targets closed-end funds that he says betray investors. He also created the bond market’s most widely used benchmark.
Capital Group Cos.' New Perspective Fund has cut cash levels to the lowest in two decades.