This little, unknown blog, www.mutualfundreform.com, has won a national award from the Society of American Business Editors and Writers (SABEW) for being one of the three best small blogs in the U.S. in 2009.
The winning award was made as part of the 15th annual Best in Business Journalism competition, recognizing top publications and web sites and the best business news reporting during 2009.
In making their award, the SABEW judges said this site was "Readable. Informed. Has a point of view. First hand view. Combination of reporting and informed opinion."
In the entire contest, there were 163 winners out of a total of 796 entries, the second highest entry total in the history of the contest which began in 1995, according to SABEW.
The awards will be presented Saturday, March 20, 2010 during SABEW’s 47th annual conference in Phoenix, Arizona.
SABEW started the competition in 1995 to help set standards and recognize role models for outstanding business journalism. It has grown steadily since then with a record 842 entries two years ago.
Wins for Original Investigative Series
This blog, www.mutualfundreform.com, won the award primarily for its original investigative series (The Deception Series) into how high, hidden mutual load-fund fees, revenue sharing deals, high commissions paid to wholesalers, and different share classes benefit mutual fund salespeople and executives more than individual shareholders.
The series showed how these hidden deals and payments are approved by fund trustee board members who insist they are being “forthright” with their shareholders and acting in their interests.
Other issues covered on the blog deal with the failure of SEC regulators, and the need for financial professionals to adopt the same fiduciary standards used by institutions and pension fund executives.
The site maintains that the need for mutual fund reform is essential because the load mutual fund industry currently has practices in place which essentially work against their own shareholders.
See the press release.
For the complete list of winners in the 2009 SABEW Best in Business Awards, go to the SABEW Web site.
For more information, contact Chuck Epstein at cepstein@prodigy.net
Wednesday, March 3, 2010
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