Mavrix Fund Management Inc. today announced that the Mavrix Strategic Bond Fund will be reducing its management fee to 1.00%. As well, the administration fee will be reduced to 0.25% to create an effective MER of 1.34% for the fund as at April 14.

Trailing service fee commissions will remain the same and the Fund pays a monthly distribution.

“For fixed income fund investors, we know that a penny saved is indeed a penny earned, so the reduction will benefit the existing and new unit holders of the Fund going forward,” said Malvin Spooner, president and CEO of Mavrix. “We’ve developed sufficient scale to enable us to offer this core bond fund with a more competitive fee structure within its peer group while maintaining a very competitive trailing service fee schedule for the fund.”