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Una interessante lettura: Wall Street Banks’ Mutual Funds Can Lag on Returns

“[…] Most of the funds run by each of the four largest banks in the business — Goldman Sachs, Morgan Stanley, JPMorgan Chase and Wells Fargo — have underperformed their basic benchmarks over the last 10 years, according to analysis of industry data done for The New York Times by Morningstar. And that does not include the funds that went out of business because of poor performance.

[…] “It’s a good business for them — but that doesn’t mean it is a good investment,” said Larry Swedroe, director of research at Buckingham Asset Management.

[…] The banks have suggested in marketing materials that their investing prowess differentiates their offerings from the pack. But the relatively high fees that banks charge for their mutual funds subtract from the ultimate returns and make it harder to compete against their most successful competitor in recent years, the giant fund manager Vanguard, a company that prides itself on offering low-cost funds.