How many fund managers invest in thier own funds?
According to WSJ article today:
"It has become easier to know this thanks to a rule by the Securities and Exchange Commission that required fund companies, starting last year, to disclose whether fund managers hold stakes in funds they run. This information can generally be found in a fund's "statement of additional information," posted on a fund company's Web site. The data are given in broad dollar ranges -- specifying only if a manager has invested, say, "$1 to $10,000" in a fund, or "over $1,000,000.""
I went fishing to see how easy it is to get this information. I spent almost an hour on two mutual fund websites and scanned through some prospectus looking for disclosure of managers' "skin in the game".
Alas, I failed, miserably. I will return later to the quest.
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