In response to historical low short-term interest rates, Mavrix Fund Management Inc. has introduced temporary fee reductions for both of its money market funds, the company said Monday.

Thetemporary action is designed to ensure investors receive a reasonable rate of return and will result in a lower management expense ratio. The trailing service fees paid to dealers from the management fee remains unchanged for both of the money market funds, Mavrix says.

“Implementing the fee reduction is in the best interests of the unitholders of our money market funds. We believe it is an important step to ensure continued confidence for both unitholders and their investment advisors,” says David Balsdon, CCO, secretary-treasurer and vice president.

The two funds subject to the temporary fee reduction are Mavrix Money Market Fund and Mavrix Multi Series Fund Ltd. – Short Term Income Series.

IE