Online discount brokerage E*TRADE Canada today announced the launch of the FundPlus Program, a new service that provides investors with access to a special class of mutual funds with lower management expense ratio.

The program offers investors the opportunity to lower the costs and increase the return on their mutual fund investments.

According to E*TRADE Canada, the FundPlus Program provides access to a special class of mutual funds that do not pay a trailer fee, which results in a lower MER and the potential for higher returns for the investor. These lower MER funds have traditionally been offered in association with advice-based managed or wrap accounts with full service brokerages.

AIM Trimark and Elliott & Page are the first mutual fund companies to provide access to their lower MER funds under the new program. Investors wanting to buy or sell units of these funds through E*TRADE Canada pay a flat rate service fee of $26.99.

“E*TRADE Canada’s FundPlus Program reinforces our commitment to provide all customers with tangible tools to improve their investment options,” said Bruce Seago, chief operating officer, in a release. “Our ongoing mission is to support customers in making informed financial decisions.”