MetWest Asset Management Wins Trial Over Advisory Fees

Law360 (August 6, 2019, 9:08 PM EDT) -- Metropolitan West Asset Management did not charge excessive fees to investors in one of its mutual funds, a California federal judge ruled Monday, saying the shareholder who sued the firm improperly compared a fund's advisory fees to its subadvisory fees.

U.S. District Judge George Wu said Thomas J. Kennis — who sued MetWest in 2015 on behalf of its Total Return Bond Fund over claims the firm received unreasonably large advisory fees from the fund's investors — failed to prove that MetWest's advisory fees were excessive.

"It is the court's conclusion that plaintiff has not satisfied his burden on any individual factor,...

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