Huber Capital Management [see profile] plans to redesignate the Institutional share class of its two mutual funds as Investor class shares. The change will take effect October 25. [SEC filing]

For the Huber Equity Income Fund, the management fee will become 99 bps from the current 100 bps if the average daily net assets is less than $10 billion. If it's between $10 billion and $20 billion, the management fee is 75 bps and if it's above $20 billion, the fee is 50 bps. The latter two are unchanged from the current fee structure.

For the Huber Small Cap Value Fund, the management fee will become 135 bps from the current 150 bps if the average daily net assets is below $5 billion. Above the $5-billion mark, the management fee is 100 bps, unchanged from the current figure.

Also,  Los Angeles-based Huber Capital has contractually agreed to modify the expense limitation for the small-cap value fund from 199 bps to 185 bps. 

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