Dear Dagen: Pointed Questions Often Stump Fund Company Phone Reps

Phone representatives at fund companies spend their days answering the usual boilerplate questions: "Who manages this fund?" and "What is its expense ratio?" But how prepared are these reps to answer some tough, even embarrassing questions? I decided to find out.

I called the toll-free customer service numbers of eight of the larger or more popular fund companies. I tried to come up with some tough questions focusing either on recent events at a specific fund company or on topics that are pertinent to investors, such as fees or Y2K.

Even though some of my questions were out of the ordinary, none were too difficult. I was surprised that some reps couldn't give me clear answers. Some were dumbfounded by some of my questions, while others were willing to wing it -- for better or for worse. ...