Purveyors of the Iron Horse Fund (IRHAX/IRHIX), a mutual fund deploying a signature covered call investment strategy, have announced a reduction in fees for the fund.
The fund, which is sub-advised by Van Hulzen Asset Management, a Folsom, Calif.-based registered investment advisor and distributed by Northern Lights Distributors, is reducing its management fee by 50 basis points to 75 bps, effective July 1.
“By reducing the fund management fee from 125bp to 75bp, we are reducing the costs to our investors and improving our competitive position within the industry,” according to Craig Van Hulzen, founder Van Hulzen.
“An income strategy is especially relevant in today’s low yield and volatile investment landscape, and with the support of NLD and Gemini, we believe we are now better positioned to grow our assets.”
The Iron Horse Fund was launched in July 2011 and managed slight some $29 million as of June 28, according to Bloomberg.