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, September 24, 2004 USAA Enters the Ring in the Index Fund Price War USAA is following quickly on the heels of Fidelity and E*Trade's index fund fee cuts. The fund manager is cutting fees on its S&P Index Fund by nearly half. USAA's Reward shareholders will pay 9 basis points, down 47 percent from 17 basis points; and Member shareholders will pay 19 basis points, down 46 percent from 35 basis points. The fee cuts take effect on October 1, according to a Monday SEC filing. USAA is also mimicking its fee-cutting predecessors by including a clause that allows it to back out of the fee cuts at any time: "From time to time IMCO may voluntarily, without prior notice to shareholders, waive all or any portion of fees or agree to reimburse expenses incurred by a Fund." Printed from: MFWire.com/story.asp?s=8112 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |