Toronto-based SEI Investments Canada Co. (SEI Canada) has announced the reduction of management fees on Class F units of a selection of SEI Canada mutual funds as of July 1.
In addition, the firm will alter a selection of embedded-fee purchase options for certain other classes of mutual funds to provide competitive pricing and remain relevant in the current regulatory landscape. Specifically, Class P and Class D units will be discontinued gradually starting Sept. 15 while Class E units will have the minimum initial investment lowered.
“[These] unit class changes represent the next phase of our evolution as we continue to support fee transparency,” says Andy Mitchell, managing director of SEI Canada, in a statement. “In the face of unfolding regulatory changes, we continue to provide our head office and advisor partners options to offer their clients comprehensive portfolio solutions with competitive all-in fees.”
SEI Canada has also announced changes to the risk levels of certain SEI Canada Funds effective Sept. 1.
The list of changes can be found in the firm’s news release.
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