Strong Capital Management of Menomonee Falls, Wis., adviser to the Strong Family of Funds, in an effort to cut costs, will ask its shareholders in July to approve a new management agreement that will add management fee breakpoints on all but 10 funds and for the first time, impose administrative fees, the company announced on Wednesday.

It will also ask to close or consolidate small, uneconomical funds into larger Strong Funds, according to the company. It recently closed one fund and two variable annuity funds and eliminated two classes of shares on five of its six municipal bond funds.

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