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Excelsior Changes Funds' Expense Ratio Caps

Its new parent, Charles Schwab, had nothing to do with it, family says.

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If you look at its recent prospectuses, it looks like investing in the Excelsior Funds family has gotten more expensive since Charles Schwab (SCH) took over the complex's investment advisor, U.S. Trust, earlier this year.

The family, which manages $12 billion in mutual fund assets, looks like it has raised the expense ratios on five of its nine domestic equity funds, three of its five international stock funds, and five of its eight bond funds, according to prospectuses released earlier this month.

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.