Ottawa-based MD Financial Management Inc. Friday announced a reduction in management fees for two international funds.
Effective May 25, the MD International Growth Fund management fee of 1.65% has been reduced by 0.05% to 1.60% and the MD International Value Fund management fee of 1.80% has been reduced by 0.20% to 1.60%.
“The reduction in management fees means that the management expense ratio for all MD funds is now below 2%,” says Brian Peters, president and CEO of MD Financial.
The changes will be reflected in the simplified prospectus dated Monday, May 25. The investment objectives and strategies of the funds or pools remain unchanged.
Owned by the Canadian Medical Association, MD Financial provides financial products and services for Canada’s physicians and their families.