Mutual funds made one hot mess out of August. On Aug. 10, Fidelity Investments conducted stock splits on some of its biggest funds, cutting their per-share prices by a factor of 10 while giving investors 10 times as many shares -- a gesture that leaves shareholders exactly where they were before. On Aug. 22, Harbor Capital Advisors, which runs the $20 billion Harbor International Fund, announced it would pay out between 35% and 42% of the fund’s net asset value as capital gains -- handing many of its investors a giant tax...

Source: Wall Street Journal August 31, 2018 16:03 UTC