Posted on 24/11/03
Mutual fund abuses found in Canada
NEW YORK -- A U.S. economist who tracked mutual fund abuses in the United States says there is evidence of similar trading problems occurring in Canada.Stanford University economist Eric Zitzewitz, who helped New York State Attorney-General Eliot Spitzer probe the mutual fund industry in the United States, tracked a "small sample"' of Canadian global equity funds and found that trading irregularities shaved up to a half a percentage point off rates of returns.
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