Auxier Focus Fund plans to 'unbundle' fees with new adviser agreement

By Toni Weeks

San Diego, Jan. 31 - The board of trustees of the Auxier Focus Fund approved a new investment advisory agreement on Monday between the fund and its investment adviser, Auxier Asset Management LLC, according to a 497 filing with the Securities and Exchange Commission.

If shareholders approve the agreement, Auxier will "unbundle" the unified fee structure into separate components, moving some of the management fees into the "other expenses" category, among other changes.

Although implementing the new fee structure would increase the total annual fund operating expenses for the class A and investor share classes, Auxier has agreed to an expenses limitation agreement that would maintain the net annual fund operating expenses at the current level, 1.25% for both share classes, through Oct. 31, 2015.

The new adviser agreement would take effect April 5. Shareholders will be mailed a meeting notice and proxy statement on Feb. 24.

Auxier Asset Management is based in Lake Oswego, Ore.

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