Transamerica Life Canada yesterday announced lower management fees on select imaxxGIF segregated funds, effective immediately.

This fee reduction applies to guaranteed investment funds in all guarantee levels within the imaxxGIF family of seg funds, and will result in lower management expense ratios for each applicable fund.

The expected MER reductions range from 0.05% to 0.70%, depending on the fund and guarantee level. For example, the management fee for TOP Growth GIP at the 100/100 level has decreased from 3.82% to 3.29% (with GST).

Transamerica says the fee decrease is a result of its regular pricing review process. A schedule of the new fees and estimated MER for each imaxx guaranteed investment fund is available for download at www.transamerica.ca.

“Investors will benefit from the reduced fees as more of their investment dollars go directly to their portfolio, a prime opportunity at RRSP season. The benefit to the independent advisor is that the fund offering, which is already made up of top-performing funds, is now that much more appealing to investors,” said Geraldo Ferreira, vp, investment product development and marketing, in a release.

Advisors can access the client letter, the imaxxGIF – Information Folder Supplement and a Q & A on Transamerica’s Distributor Web site, http://transact.transamerica.ca.