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In Business This Week
HOW MUTUAL FUNDS CAN SAVE TREES
QUICK READ: THE SECURITIES & EXCHANGE COMMISSION ruled on Mar. 10 that mutual-fund companies are allowed to sell their wares using a three- to six-page document called a profile instead of a lengthy fund prospectus. The commission also revised its disclosure requirements for prospectuses, which investors will still receive after they invest in funds, omitting such information as descriptions of a fund's capital structure. "It's time investors had useful information before making a decision instead of incomprehensible, dense documents," says Kathleen Clarke, the commission's assistant director of the division of investment management.EDITED BY KELLEY HOLLAND