MassMutual increases administrative fees but also ups fee waivers

By Toni Weeks

San Diego, Dec. 8 - MassMutual Select Funds announced that the adviser for several MassMutual funds has increased administrative fees and has modified the investment strategy for one fund, according to a 497 filing with the Securities and Exchange Commission.

The BlackRock Global Allocation Fund, Indexed Equity Fund, Growth Opportunities Fund, MassMutual Select Indexed Equity Fund, MassMutual Select Growth Opportunities Fund and MassMutual Select Mid-Cap Value Fund will all increase their administrative expenses by up to 0.15%. However, the adviser for the funds, Springfield, Mass.-based Massachusetts Mutual Life Insurance Co., has also agreed to increase the percentage of fees that it waives in order to keep the annual fund operating expenses fixed.

Furthermore, the filing noted that the BlackRock Global Allocation Fund has expanded the types of investments that it makes in order to include exposures to real assets that trade in the commodity markets, such as precious metals, agriculture, energy, livestock and industrial metals, to include futures contracts, options, interest rate swaps, total return swaps, credit default swaps and exchange-traded funds.

In addition, the Focused Value Fund will move to the Large Cap Core category from the Multi Cap Value category.

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