High fees and low returns have made these stock funds poor long-term performers.
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The law of unintended consequences may well trump the rule of Buffett.
An explosion in the number of funds and share classes has yielded few economies of scale for investors.
Western makes manager changes, Loomis Sayles to rename a fund, and star Vanguard health-care manager to retire.
Templeton makes leadership changes, long-short fund finds new partner, and more.