CMA Holdings Inc., the organization responsible for the business subsidiaries of the Canadian Medical Association, including MD Funds Management Inc. today announced four major developments, including fee reductions for several MD funds.
These initiatives include:
- reduced fees charged to MD Bond Fund, MD Bond and Mortgage Fund and MD Private Investment Management clients;
- the purchase of a clinical practice management software company; li>the launch of mydoctor.ca, a service that enables physicians to create a Web site that improves practice efficiency and enhances patient communication; and
- the creation of Tenant Lease Services, which is designed to help physicians negotiate the best possible lease for office space>
.“Taken together, these four developments reflect our commitment to consistently deliver superior value to our clients, while ensuring long-term growth through various strategic initiatives,” said Rob Hewett, president and CEO, CMA Holdings, in a release.
The management expense ratio on both the MD Bond and MD Bond and Mortgage funds was reduced by 10 basis points effective October 1, 2004. Almost 40,000 unitholders stand to benefit from the fee decrease.
In addition, clients of MD Private Investment Management will also benefit from a reduction in expenses and custody fees equivalent to a total of 5 basis points on assets invested in MD PIM pools. MD Private Investment Management is the discretionary investment management group within the MD organization.
With last year’s acquisition of Howson Tattersall and Saxon Mutual Funds, CMAH has grown to include 16 separate companies offering comprehensive financial and investment counsel, life insurance, banking, trust, practice management assistance and online healthcare products and services for institutions.