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 <subject>Fees</subject>
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 <title>Mutual Funds: Additional Disclosures Could Increase Transparency of Fees and Other Practices</title>
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<abstract>Concerns have been raised over whether the disclosures of mutual
fund fees and other fund practices are sufficiently fair and	 
transparent to investors. Our June 2003 report, Mutual Funds:	 
Greater Transparency Needed in Disclosures to Investors, GAO-03- 
763, reviewed (1) how mutual funds disclose their fees and	 
related trading costs and options for improving these		 
disclosures, (2) changes in how mutual funds pay for the sale of 
fund shares and how the changes in these practices are affecting 
investors, and (3) the benefits of and the concerns over mutual  
funds&apos; use of soft dollars. This testimony summarizes the results
of our report and discusses certain events that have occurred	 
since it was issued.</abstract>
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<note>Testimony</note>
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 <topic>Fees</topic>
 <topic>Information disclosure</topic>
 <topic>Investments</topic>
 <topic>Mutual funds</topic>
 <topic>Expenses</topic>
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