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.
Stay ahead of the news ... Sign up for our email alerts now