Sun Life Global Investments (Canada) Inc. reports that investors of its mutual funds that are structured as trusts have approved a proposal to change the way expenses are charged to the funds.
Effective Jan. 1, 2015, Sun Life Global Investments will begin paying certain operating expenses of the funds in return for each fund paying a new fixed-rate administration fee to Sun Life Global Investments.
The unitholders of each fund approved the introduction of the fixed-rate administration fee at special meetings held Wednesday.
“By approving the introduction of a fixed-rate administration fee, our customers have increased the fee predictability and clarity of their investments,” said Rick Headrick, president, Sun Life Global Investments.
Sun Life Global Investments mutual funds structured as classes of a mutual fund corporation already pay fixed-rate administration fees.