X.com Asset Management of Palo Alto, Calif., adviser to the X.com online mutual funds, is asking its shareholders to approve a 260 percent increase to the unitary fee it charges on its online money market fund, the X.com U.S.A. Money Market Fund. X.com is proposing to raise the fund's advisory fee from 0.50 percent to 1.80 percent so that it can cover the costs of extra services it expects to soon make available to its fund shareholders.
X.com expects to introduce unlimited check-writing, a Visa debit card and an e-mail money transfer service that will allow investors to buy and sell items at online auctions. The fund will also change its name to the X.com Money Market Reserve Fund. The proposed changes were disclosed in an SEC filing May 19.