AllianceBernstein Discovery Value Fund’s recent fee hike has earned it a downgrade from a Bronze to Neutral rating by Morningstar.

According to Morningstar analyst David Falkof, in 2012 AllianceBernstein lifted this fund's fee cap, which had kept expenses on all of the share classes well below the averages for their similarly sold peer groups since 2005. “The fund's low cost gave it a meaningful built-in advantage over rivals,” wrote Falkof.

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