Toronto-based Sun Life Global Investments (Canada) Inc. has announced the reduction of management fees and operating expenses across its mutual fund lineup.
Effective Jan. 1, 2018, fee reductions of up to 35 basis points will be applied to 50 mutual funds across certain A, AH, T5, T8, AT5, AT8, F, FH, O, and OH series.
“By lowering fees on our mutual fund lineup, Clients can keep more of their money working for them, giving them even more peace of mind,” says Rick Headrick, president, SLGI, in a statement.
The firm also announced the addition of series F5, F8, FT5 and FT8 securities. “The new series have been designed to provide an income-oriented solution for clients who have a fee-based account with their dealer and whose dealer has signed an agreement with Sun Life Global Investments, the firm says in its announcement. They are expected to be available on or about Feb. 9, 2018.
SLGI is also trimming certain management fee reductions in the private client program, “in order to continue to provide clients with the best possible products and service,” the firm says.
Pricing is only changing for clients who enter the program on or after March 28, 2018, and who have $500,000 or more in eligible assets.
In addition, SLGI announced that 11 funds that have had their risk classification change are the result of an annual review, not the result of any change to the investment objectives, strategies or management of the funds. The risk classification for each fund has been calculated in accordance with the new risk methodology mandated by the Canadian Securities Administrators.
Full details of the funds affected by SLGI’s announcement are in the company’s news release.
Photo copyright: nonwarit/123RF