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Losing Mutual Funds Still Enjoy Big Paydays.
Despite 2008 decline, some fund giants garnered more than $300 million in fees

Many mutual-fund investors suffered heavy losses in 2008, but managers of some of the largest stock funds – including ones that fell roughly 40% in 2008 – gathered hundreds of millions of dollars in fees during that time.

And later on:

[Morningstar analyst] Dolan also suggested that the dollar amount brought in by fees be expressed in terms of total returns delivered by a fund. For example, if a fund’s returns in a year amounted to about $600 million, and it realized $300 million in management fees, investors would have a clear picture of how much fees affected returns.

The entire article is here.