A new tax policy could prompt mutual fund management companies to hike the administrative fees they charge investors, an industry accountant is warning.

The policy, outlined in an Internal Revenue Service statement in the spring, effectively bars mutual fund companies from taking a federal tax deduction for some of the costs of starting a fund. Such deductions are now the norm, said Joseph M. Diangelo, a tax manager in the Columbus, Ohio, office of Coopers & Lybrand.

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