AIG Money Market Fund adviser waives fee to limit total fees to 0.4%

By Toni Weeks

San Diego, Dec. 8 - AIG Money Market Fund announced that its investment adviser, AIG Asset Management (U.S.), LLC, would limit the fees it receives from the fund for advisory services, according to a 497 filing with the Securities and Exchange Commission.

AIG is currently entitled to receive an annual fee of 0.25% of the average daily net assets of the fund but has voluntarily agreed to waive its management fee and further reduce fees so that total annual operating expenses do not exceed 0.4% of the fund's average daily net assets. Though the adviser intends to continue its fee reductions, it may discontinue them at any time, the filing stated.

The fund paid 0.35% of its average daily net assets in advisory fees during the most recent fiscal year to AIG.

AIG Asset Management is based in New York.

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