Bay area fund firm RS Investments has cut fees on six of its funds, including one of the funds named in the timing scandals last year.

The firm shaved five basis points off of its RS Emerging Growth fund, the fund named in the SEC's order against the firm. In the order, regulators alleged that RS allowed timers to frequently trade the fund in exchange for long-term "sticky" assets. The fund is managed by Jim Callinan.

RS also cut 20 basis points off of the RS Growth Fund, 15 basis points off of the RS MidCap Opportunities Fund and the RS Value Fund, and 25 basis points off of the RS Internet Age Fund and the RS Smaller Company Growth Fund. The funds' management fees now range from 80 basis points to 100 basis points.

The changes were effective on December 7.

Amy Hyde, a RS spokeswoman, did not immediately return a call seeking comment on why the changes were made.

A Morningstar report on the Emerging Growth Fund made the case for the Emerging Growth Fund, at least, to reduce its fees: "This fund's expense ratio is below the average for non-institutional, no-load small-growth funds. However, it hasn't come down as much as we would like over time, in part because the fund's 1% management fee doesn't scale down as assets grow."

RS settled the SEC's market timing allegations for $25 million in October of last year. 

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