Maxim T. Rowe Price Equity/Income Portfolio revamps subadviser fees

By Toni Weeks

San Diego, Jan. 10 - Maxim Series Fund, Inc. announced changes to the fees paid to the subadviser for its Maxim T. Rowe Price Equity/Income Portfolio, according to a 497 filing with the Securities and Exchange Commission.

The fund's investment adviser, Greenwood Village, Colo.-based Maxim Capital Management, LLC, will now compensate T. Rowe Price Associates, Inc., the fund's subadviser, at 0.5% for the first $50 million of assets and 0.45% for the next $50 million of assets. At assets of $100 million, the fee resets, and the entire amount will be assessed a 0.4% fee. Likewise, the entire amount is subject to a 0.35% fee at $200 million of assets and a 0.325% fee at $500 million of assets. Assets over $500 million will have a fee of 0.3%. If assets reach $1 billion, the entire amount is subject to a 0.3% fee.

Previously, T. Rowe Price earned compensation for its services at the annual rate of 0.4% on the first $250 million of assets, 0.375% on the next $250 million of assets and 0.35% on all assets over $500 million.

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