has increased the purchase fee of its Emerging Markets Stock Index Fund
, an international fund that tracks the long term return of the MSCI Emerging Markets Index , from 25 to 50 basis points. The fund holds $11.9 billion assets under management.
According to the SEC filing
, the fee hike is a reaction to the stock-buying tax imposed by the Brazilian government on October 20. Brazil now charges a two percent tax on equities purchased by foriegn investors.
The Emerging Markets Fund, which invests in many international markets -- such as Russia, China, Korea and Taiwan -- gained 67 percent this year through Friday. 16 percent of its assets were invested in Brazilian stocks as of Sept. 30, Bloomberg reported
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