Denver-based Old Mutual Capital is reducing the advisory fee it collects on the $82 million Old Mutual Analytic Fund (ANDEX) to 85 basis points from 95 bps on August 1. The move follows Old Mutual's June decision to levy a $12 annual fee on accounts with fewer than $1,000. Old Mutual affiliate Analytic Investors subadvises the fund. [SEC filing]

Old Mutual will also cap the annual expenses on the fund at 155 bps for class A shares and 230 bps for class C shares and 125 bps for institutional class shares. It will also consider further reductions to these limits on an annual basis.

The fund carries a one-star rating by Morningstar, which lists its expense ratio at 207 bps.

The fund had been known as Old Mutual Analytic Defensive Equity Fund. 

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