Summary prospectus gets nod
The SEC recently voted to require mutual funds to provide investors with a summary prospectus.
The SEC recently voted to require mutual funds to provide investors with a summary prospectus. The summary will appear at the front of each prospectus and provide, in plain English, information such as a fund’s investment objectives and strategies, risks and costs, tax consequences and compensation for financial intermediaries. The rule changes are effective Feb. 28; funds have until Jan. 1, 2010, to comply. For more details, visit sec.gov/news/press/2008/2008-275.htm.
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