Scout Funds tacks on 0.05% administrative services fee to nine funds

By Toni Weeks

San Diego, March 26 - The board of trustees of Scout Funds approved an administrative services agreement between the trust and Scout Investments, Inc., the investment adviser to the nine funds under the trust.

According to a 497 filing with the Securities and Exchange Commission, the funds will pay to Scout a fee of 0.05% of a fund's average daily net assets for administrative services, effective April 1.

The administrative fee will have no effect on the total annual fund operating expenses for the Scout Stock Fund, Scout International Discovery Fund, Scout Global Equity Fund, Scout Core Bond Fund, Scout Core Plus Bond Fund and Scout Unconstrained Bond Fund. Scout is already waiving advisory fees and/or assuming some fund expenses for those funds due to an expense limitation agreement.

For the other three funds, the Scout Mid Cap Fund, Scout Small Cap Fund and Scout International Fund, the new administrative fee will raise the total annual fund operating expenses by 0.05%.

Scout Investments is based in Kansas City, Mo.

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