Class-A unitholders of Sceptre Equity Growth Fund will meet this month to vote on an increase in management fees to 1.5% from 1.25%. Toronto-based Sceptre Investment Counsel Ltd. says the hike would cover costs of the additional investment management resources required to research the small-cap companies in which the fund is invested. The company says more proprietary research, including on-site visits and management interviews, are needed for the fund to remain competitive in the small-cap fund category. But even with the increase, the company says the fund’s fee would be below the average fee of Canadian small-cap funds. “Sceptre’s objective remains and always has been to deliver above-average performance over the long term with below-average fees,” says Richard Knowles, Sceptre’s president. If approved,
the fee increase would come into effect around June 14.