Toronto-based Natixis Global Asset Management Canada on Tuesday announced a series of changes to its lineup of NexGen mutual funds, including management fee cuts, portfolio manager changes, a proposed fund merger.

Effective Sept. 19, Natixis will reduce the management fees on certain funds by between 10 and 20 basis points. The affected funds include NexGen Canadian Bond Tax Managed Fund and NexGen Canadian Bond Fund, which will both see fees cut from 1.35% to 1.25% on the front-end, deferred, and low load series, with the F series fees dropping from 0.85% to 0.75%.

For NexGen Corporate Bond Tax Managed Fund and NexGen Corporate Bond Fund, the fees for the front-end, deferred, and low load series are being reduced from 1.45% to 1.25%; and, F series fees are going from 0.95% to 0.75%.

Additionally, the portfolio manager for NexGen Corporate Bond Fund and NexGen Corporate Bond Tax Managed Fund will change to Loomis Sayles & Company, L.P. on Oct. 17. The funds will be renamed Loomis Sayles Global Diversified Corporate Bond Fund and Loomis Sayles Global Diversified Corporate Bond Tax Managed Fund, respectively. The funds’ strategies will be changed to allow greater investments in foreign and high yield fixed-income securities.

At the same time, Natixis is also changing the portfolio manager of NexGen Turtle Canadian Balanced Registered Fund and NexGen Turtle Canadian Balanced Tax Managed Fund to Cidel Asset Management Inc. These funds will also be renamed Natixis Strategic Balanced Registered Fund and Natixis Strategic Balanced Tax Managed Fund, respectively. Their strategies will also change to provide increased flexibility.

Cidel is also taking over portfolio management of NexGen Canadian Diversified Income Registered Fund and NexGen Canadian Diversified Income Tax Managed Fund. which the firm plans to merge with NexGen Turtle Canadian Balanced Registered Fund and NexGen Turtle Canadian Balanced Tax Managed Fund, as of Dec. 9. The proposed mergers will be voted on at special meetings on Dec. 2.

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