Kutak Rock attorney Marc Lieberman authored an article, "The Management Fee Charade: What's Lost is What's Unrecovered, Not What's paid," for the April 2019 issue of The NAPPA Report, the official publication of the National Association of Public Pension Attorneys.

In the article, Mr. Lieberman explains that management fees collected by fund advisors are recovered throughout the course of the investment and are not just fees, "thrown down the toilet." Lieberman further states that management fees are not a lost expense and in actuality, they are recovered with interest. 

Read the entire article in the NAPPA Report, "The Management Fee Charade: What's Lost is What's Unrecovered, Not What's paid."