Saxon Funds Management Limited is reducing management fees on the Saxon Money Market Fund and Saxon Bond Fund.

Effective Dec. 1, 2005, the annual management fee will be reduced on Saxon Money Market Fund from 0.60% to 0.50% and Saxon Bond Fund from 1.15% to 0.89%.

The new management expense ratio (MER) including GST for Saxon Money Market Fund and Saxon Bond Fund will now be 0.54% and 0.95% respectively — putting them more than 40% lower than the industry median as of Oct. 31, 2005.

“We’re lowering our fees to provide Saxon clients with conservative fixed income investments with industry-leading returns — a value proposition that few can match.” said Allan Smith, president and CEO of Saxon Funds, in a release.

The Saxon Money Market and Saxon Bond Fund were launched in September 2004. Like all funds in the Saxon family, they are managed in-house by the investment specialists at Howson Tattersall Investment Counsel.

“Saxon made its name in equities, and we plan to deliver superior performance and value on the fixed income side,” Smith concluded.