CDC IXIS Asset Management Advisers, the advisor to the CDC Nvest Star Worldwide Fund, is replacing Montgomery Asset Management LLC as one of the funds sub-advisors with Hansberger Global Investors, according to a company regulatory filing.
Besides Montgomery, the international equity fund is sub-advised by Loomis Sayles & Co. and Oakmark/Harris Associates LP. While the filing does not say why Montgomery is being replaced, the new fee payable to Hansberger is less than what CDC IXIS was paying Montgomery, according to the filing. The firm will pay Hansberger .55% of the funds net assets for the first $50 million, .50% of the next $50 million and .35% of amounts in excess of $100 million. However, the overall sub-advisory fee the fund pays CDC IXIS Advisers will remain the same, the company said.