By Scott Ronalds

Morningstar’s Manager of Fund Analysis, David O’Leary, recently published an article titled Six Changes We Would Like to See in the Canadian Mutual Fund Industry. O’Leary acknowledges that by and large, Canada has an investor-friendly fund industry. Yet, there is still room for improvement in a number of areas. His laundry list includes:

• Fees
  
• Manager co-investment (a call for some form of disclosure)
  
• Management team changes (a call for greater transparency)
  
• Disclosure of regulatory findings
  
• Currency hedging (a call for greater clarity)
  
• Share class naming conventions (a call for standardized terminology)
  

David’s list is pretty complete and we agree with most of his suggestions, but we would add one thing to the list:

• Client statements (few firms/dealers show fees and account performance)