Very interesting article on page B1 in the Sat/Sun Jan 12-13 copy of the Wall Street Journal. -I didn't know the TSP funds were being run by Blackrock. The TSP Investment Board oversees the fund...I thought they ran it also. -Blackrock does lend out shares to short-sellers. In other Blackrock funds, it was noted that Blackrock returns 65% of the fees (recieved from the borrowers of shares) and keep the rest for themselves. Its suggested that Blackrock returns a larger percentage to the TSP funds in order to keep managing the funds. But it mentions Vanguard returns 100% of such fees to the funds. The last paragraph makes a subtle suggestion that all fees recieved from lending shares belong to the fund (i.e, the shareholders). Did Congress favor a big contractor at the expense of federal employees again? The good news?? Fund management expenses are dirt cheap. If you want a copy of the article, try emailing the author at email@example.com, or twitter.com/jasonzweigwsj
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