Three Selkirk funds lower fees to 1.25% from 2% with new fee agreement

By Toni Weeks

San Diego, March 14 - Ambassador Funds announced that it has amended its investment advisory fee agreement with Convergence Financial Services, Inc., the investment adviser to the Selkirk Opportunities Fund, the Selkirk Core Fund and the Selkirk Income Fund.

Convergence has agreed to waive its investment advisory fee and/or reimburse each fund's operating expenses as necessary to limit each fund's total annual operating expenses to 1.25% of the fund's average net assets.

The previous investment advisory agreement limited each fund's total annual operating expenses to 2%.

Convergence is based in Southfield, Mich.

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