Pilgrim Investments of Phoenix, Ariz. is asking shareholders to approve large increases in the advisory fees for two of its best performing funds. The increased fees will help the firm retain investment talent and expand its capabilities, according to a July 13 proxy.

If approved by shareholders, the annual investment management fee on the Pilgrim Growth Opportunities Fund would increase from 0.75 percent to 0.95 percent and the advisory fee for the Pilgrim SmallCap Opportunities Fund would rise from 0.75 percent to one percent. Based on current fund assets, annual fees on these funds would increase $497,455 and $638,618, respectively.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.