Ambassador extends waiver on Selkirk Opportunities, Core, Income funds

By Tali David

Minneapolis, Jan. 3 - Ambassador Funds entered into an agreement to waive fees and reimburse expenses with Convergence Financial Services, Inc. the investment adviser to each of the Selkirk Opportunities Fund, Selkirk Core Fund and Selkirk Income Fund, according to a 497 filing with the Securities and Exchange Commission.

Under the agreement, the adviser will waive its investment advisory fee and/or reimburse each fund's operating expenses as necessary to limit each fund's total annual operating expenses to 2% of the fund's average net assets.

The agreement initially runs through April 30, 2013.

The agreement supersedes the existing fee waiver agreement dated June 10, 2011.

Convergence is a Southfield, Mich.-based investment adviser.

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