Northwest Mutual Funds announced the lowering of management expense ratios (MERs) on four of the Northwest Funds.

The following funds were adjusted on October 1.

The MER for Northwest Canadian Equity Fund Series A slipped to 2.60% from 2.64%.

The MER for Northwest Canadian Equity Fund Series F fell to 1.54% from 1.58%.

The MER for Northwest Growth & Income Fund Series A dipped to 2.61% from 2.65%.

The MER for Northwest Growth & Income Fund Series F was reduced to 1.55% from 1.59%.

The MER Northwest Specialty Innovations Fund Series A was lowered to 2.71% from 2.77%.

And the MER for Northwest Specialty Innovations Fund Series F, dipped to 1.65% from 1.71%.

“Since the June 2004 integration of Northwest with the Desjardins Group, Northwest has continued to honour its commitment to provide superior customer service and exceptional portfolio management,” said Michael Butler, President and C.O.O of Northwest Mutual Funds, in a news release. “The lowering of MERs on all of the Northwest Funds over the past two years is symbolic of that effort” continued Butler.

From June 2004 to October 2006 for example the Northwest Canadian Equity Fund has had its MER reduced from 2.80% to 2.60%, a reduction in operating expenses of 25%.

While expenses have gone down, performance has risen. Annualized returns for the Northwest Canadian Equity Fund as at October 31, 2006 are as follows: 1 year: 22.6%, 2 years: 24%, 3 years: 17.7%, 5 Years: 12%, 10 years: 10.7%.

Said Butler, “Northwest has been one of the fastest growing mutual fund companies in Canada over the past several years. As we continue to grow, we are committed to monitoring and lowering fees when economies of scale are realized.”