Aug
31
Pimco Bucks Trend by Raising Fees on Ivascyn’s Income Fund
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Firm cites dividend management at growing, $92 billion fund
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Increase comes as large money managers compete on low cost
Pimco Income Fund, the fastest-growing actively managed U.S. mutual fund, is raising fees at a time most money managers are racing to slash costs paid by investors.
The $92 billion fund will increase its fees 5 cents per $100 on Oct. 2 for most share classes, according to a filing Thursday, bringing expenses for the institutional-class shares to 50 cents per $100. The change in supervisory and administrative fees is attributed in part to the cost of managing dividends for the growing fund, which has about 5,500 securities in numerous countries and currencies, said Pacific Investment Management Co. spokesman Michael Reid…
Pimco Bucks Trend by Raising Fees on Ivascyn’s Income Fund
