Brandes Investment Partners & Co. announced today that effective immediately it will waive or absorb a portion of the expenses borne by the unitholders for all classes of Brandes RSP funds.

Total class expenses will be reduced to match the expense charges of the corresponding classes in the underlying funds. Brandes says the cuts stem from the removal of foreign content limits for registered plans in Canada proposed in the federal budget.

“This is great news for Canadian investors. They will now be able to properly diversify their portfolios without additional costs. Although it may take us some time to reorganize our Funds, we want our investors to reap the benefit of this Federal Budget change immediately,” said Oliver Murray, president and CEO of Brandes Investment Partners & Co.

In addition, Brandes has announced that once the budget proposal has been passed, it will take the necessary steps to reorganize the RSP Funds into the underlying Funds.

“Reorganizing the funds is the best solution for advisors and their clients and we’ll do it in a way that minimizes administration. This immediate reduction of expenses in Brandes RSP Funds is a step in that direction. Advisors and clients don’t need to be worried about having to take any immediate action,” said Alasdair Hayes, executive vp, sales.

The four Brandes RSP funds are: Brandes RSP Global Equity Fund; Brandes RSP Global Balanced Fund; Brandes RSP International Equity Fund; and Brandes RSP U.S. Equity Fund.