First Eagle SoGen Funds of New York is seeking shareholder approval to liquidate the First Eagle SoGen Money Fund, according to a preliminary proxy statement filed April 3 with the Securities and Exchange Commission.

The fund’s manager, Arnhold and S. Bleichroeder Advisers of New York had agreed to limit the expense ratio to .75 percent of assets under management, according to the proxy. The fund has not been able to attract enough assets without further increasing the expense cap, it said. The price cap, which the manager agreed to hold until March 31, will be extended until April 30. “While we believe that the Money Fund has performed competitively with its peers, we have sadly not been able to attract enough assets for it to maintain this competitiveness without a continuing and substantial economic commitment on the part of Arnhold and S. Bleichoroeder by way of a voluntarily extended expense cap,” the proxy said. Further, it is likely that the manager would not extend the price cap beyond April 30, which would negatively affect the performance of the fund, according to the proxy.

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