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FYI: International stock mutual funds outperformed the U.S. stock market for much of the past 10 years. But international funds fell behind in the past year amid difficulties in stimulating moribund economies in Europe and China as well as Greece's debt problems. Regards, Ted http://license.icopyright.net/user/viewFreeUse.act?fuid=MjAxMjE2NzI=
Hope this is not a top for OSMYX , institutional version of OSMAX but decided to add to it today. Its my best ytd fund. Put it into my roth which has the most aggressive funds, will be tapped last.
There's a proxy now to increase the management fee of OSMAX/OSMYX in a way that would increase it by 23 basis points (1/3 of its current 70 basis points). That's just the management fee; the total ER would likewise increase by 23 basis points. If you own shares, you can vote your proxy through Feb 11. Shareholder meeting is Feb 12.
The reason given is that while the management fees were once reasonable, now that other managers are getting more, these managers want in on the action too. Okay, a cynical paraphrasing; the exact phrasing is:
"(1) ... the Current Fee, which was established at the initial launch of the Fund in 1997, is no longer priced in line with the Fund’s peer group"
In case you didn't get that, it goes on to give another reason: "(2) the Current Fee is below market and substantially lower than the fees charged to the Fund’s peers"
Comments
The reason given is that while the management fees were once reasonable, now that other managers are getting more, these managers want in on the action too. Okay, a cynical paraphrasing; the exact phrasing is:
"(1) ... the Current Fee, which was established at the initial launch of the Fund in 1997, is no longer priced in line with the Fund’s peer group"
In case you didn't get that, it goes on to give another reason:
"(2) the Current Fee is below market and substantially lower than the fees charged to the Fund’s peers"
SEC filing: http://www.sec.gov/Archives/edgar/data/1041102/000072888915001798/proxy.htm