Time for fund managers to use their power for good | Money

For years the investment industry told us that customers didn’t care about fees. Every time we wrote a story questioning the true cost of investing, firms argued that all customers should worry about was performance net of charges, which is true — but it is a neat way of deflecting from the real issue over the cost of investing.

My theory was always that investors did care, they just didn’t understand what they were paying.

And then Vanguard came along with a simple investment process and low charges and, what do you know, it proved a stunning success because, well, investors did care about charges after all. Net of charges, the performance of a low-cost tracker is often much better than that of an expensive