Longleaf Partners International will see a big cut in its expense ratio next month. Effective October 1, Southeastern Asset Management is lowering the fund's management fee from 150 bps to 120 bps for the first $2.5 billion in assets, Morningstar's Ryan Leggio reports. This will bring the expense ratio of the fund down from 169 basis points to 139 basis points.

The fee cut stems from the addition of global and international accounts over the last 10 years.

But even with the hefty fee cut, the fund remains one of the more pricey no-load international large-cap funds with the same size, Leggio notes.  

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