In an effort to help consumers better understand their own finances, Securities and Exchange Commission Chairman Arthur Levitt on Tuesday unveiled a tool they can use to compare the costs of competing mutual funds.

"Each and every investor should know what he or she is paying for in a mutual fund - plainly, simply, and in dollars and cents," Mr. Levitt said. "Only when investors know what they're paying can they shop for a fund that best matches their investment objectives."

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