MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, March 18, 2005 American Funds Cuts Fees Not to be excluded from recent price cuts by other major fund firms, American Funds said on Thursday that it is cutting advisory fees by 10 percent on all 28 of its mutual funds, reports the Los Angeles Times. The fund family cut its fees by five percent last year. The new moves shave another 10 percent off of advisory fees. "We have a history of recognizing that as assets grow, it's appropriate and fair to reduce fees," Paul Haaga, executive vice president of the adviser to the American Funds, Capital Research & Management Co., told the LA Times. The cuts will take effect on April 1. Printed from: MFWire.com/story.asp?s=9289 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |