I'm playing with MSN Money's Fund Screen today. As one of the exercises to serve my curiosity, I'm trying to find out the most expensive fund.
My finding: Frontier Equity (FEFPX) is without doubt a model of high fees. The fund, specializing in small caps, has a lofty front load of 8% and an expense ratio of 42.36%. A few minutes of further research shows that this is a tiny fund (with Total Net Assets of $1.03M) and recently hired a 20-year-old to manage the fund (ABCNews, 12/4/2003).
Sigh, Even a genius from Mars will not save the ship after an annual expense of 42%. For the benefit of fund investors, this fund should immediately liquidate itself. It is clearly another evidence that there are more evil in the fund industry.