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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (31386)7/4/2008 3:41:57 PM
From: Jurgis Bekepuris  Read Replies (1) of 78485
 
I would doubt this happens, since this is somewhat easily calculated and would lead to a huge bad publicity if deception was shown. Might also lead to lawsuit. Considering someone even cracked down on Beardstown Ladies, I'm pretty sure there are a lot of people who would love to write an article about fund XXXXX fudging their reported results.

Funds do not subtract taxes though, so in reality you will have lower return than stated unless your investment is in tax deferred account. Some funds may also assume minimum load/fees that won't be true for some investors. Although they do usually account correctly for different share classes, e.g. normal with 1.5% management fee and institutional with 0.5% or something. The reported numbers usually have a correct discrepancy based on that.

If I owned hedge funds, I would probably be much more investigative into their numbers, since these are not publicly disclosed and the number of people doublechecking the results would be very small.
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