Satuit Capital tacks on service fees for fund, holds net fees to 1.95%

By Toni Weeks

San Diego, Nov. 2 - The board of trustees of Satuit Capital Management Trust approved a shareholder servicing plan and an operating services agreement for its Satuit Capital U.S. Emerging Companies Fund, according to a 497 filing with the Securities and Exchange Commission.

Both the plan and agreement took effect Nov. 1.

The shareholder servicing plan permits the fund to pay a fee of up to 0.25% of the fund's net assets to unaffiliated third parties who enter into servicing agreements with fund distributor Rafferty Capital Markets, LLC for providing shareholder services to the fund's shareholders. The operating services agreement specifies that the fund will pay Satuit Funds Administrator, LLC a fee equal to 0.1% of the fund's net assets for administrative services.

The fund's adviser, Franklin, Tenn.-based Satuit Capital Management, will continue to agree to limit the fund's expenses to no more than 1.95%. Because of this cap, neither the servicing plan nor the operating services agreement will affect the fees and expenses payable by shareholders.

The 1.95% annual fund operating expenses fee consists of 1.25% in management fees, 0.25% in distribution and service fees and other expenses of 0.45%, which includes the 0.25% service fee to Rafferty Capital and the 0.1% administrative fee to Satuit.

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