Mutual fund shareholder costs declined again last year, the Investment Company Institute said.

Shareholder costs of equity funds fell 5.6%, of bond funds 3.5%, and of money market funds 2.3%, the fund trade group reported this week. Lower distribution and operating expenses were credited.

Since 1980, equity fund shareholders' costs have dropped 40%, the report said, while those of bond fund shareholders have fallen 29% and of money fund shareholders' 24%.

Costs have dropped even when index and institutional funds are not counted, the report showed.

-- Stephen Garmhausen

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