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|Subject: some interesting info about M*||Date: 1/3/2005 5:35 PM|
|Author: jesserivera67||Number: 43859 of 77402|
Just learned a tip. Apparently M* only pulls expense ratio information from the audited annual reports and not prospectuses (prospecti???).
Why should we care? I did a quick search on a fund in my deferred comp program, GAPAX or Goldman Sachs Aggressive Growth Strategies fund. It showed an expense ratio of 0.6% on M*.
I thought, that seems almost too good even if it's got a bunch of underlying funds. I decided to dig into the prospectus and I pulled up 1.52%! What the?!?
I spoke with M* who said this has been a problem particulary with Goldman Sachs and that they only pull expense information from the audited annual reports. Not sure if anyone else knew that but I didn't.
So if this says anything...make sure to read that prospectus. The unsuspecting person could have been paying close to 100% more than they would have thought.
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