Zurich YieldWise, which is restoring expenses after having waived them for the past year and a half, may be a harbinger of things to come.

"When they (Zurich YieldWise) came into being in April 1997, they were waiving all fees," said Connie Bugbee, editor of IBC Data's Money Fund Expense Report of Ashland, Mass. Now, Zurich YieldWise is slowly reinstituting fees, she says. The fund's expense ratio was 21 basis points in July, 31 basis points in August and 34 basis points in September, she said.

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