ABN AMRO Asset Management of Chicago has named MFS Institutional Advisors, Inc. sub-advisor of the ABN AMRO Value Fund, according to a company regulatory filing.

ABN AMRO will MFS an annual fee of .40 of 1% of the fund’s average daily net assets for the first $250 million and .33 of 1% on assets between $500 million and $900 million. As of Jan. 3, the fund held $121 million in assets, according to Morningstar.

ABN AMRO lists Mellon Equity as the fund’s current advisor, but the filing did not indicate whether Mellon was being replaced. A company representative could not be reached in time for deadline.

The ABN AMRO Value Fund underperformed its peers last year, returning -12.37% compared to -.7% for the average large cap value fund, according to Morningstar.

ABN AMRO also moved to allow the fund to begin investing in REITs, convertible securities and preferred stocks, according to the filing.

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