More disclosure from mutual funds, says SEC

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In a letter to the Investment Company Institute, a mutual fund industry trade group, the Securities and Exchange Commission (SEC) has warned mutual fund companies to improve their disclosure of US government bond funds, many of which invest heavily in mortgage-related debt.

The agency says that some funds “have reduced the prominence of these important disclosures by relegating them” to footnotes in documentation or by glossing over them “to such an extent that they may be easily missed by

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